/biz/ - Business & Finance

>>54883812
based

>>54883812
Are they really? So people are buying those huh

>>54883812
I sent a transaction last night when fees were ~140 sat/vB then went to bed. I woke up to fees at >300 sat/vB and I’m still stuck in the mempool

>>54883812
>the Bitcoin blockchain
*the BTC Blockchain

Where are all the trannies that said that BTC was over once the last block has been mined?
Ordinals have generated a total of 6.6 million dollars worth of transaction fees

>>54883812
is dey realy?

>>54883888
How the fuck are you gonna cash that in when it costs an arm and a leg to send it anywhere, just for it to get stuck in the mempool anyways because Raj had to put out another dog coin?

>>54883812
You act surprised

>>54883812
Nobody cares
https://youtu.be/uvPeKB20-do

>>54883812
haircomb solves this problem
biz does not want to hear this because biz posters convinced themselves haircomb was a meme

>>54883812
Is this worth aping into now, I feel like it already had it’s bullrun and now if I invest I will just get dumped on. I kind of want a Btc machine though… just not for 0.14 btc

>>54883812
They have to undo them. BTC will burn down at this rate.

>>54883908
ordinals have a flat fee that even your village can afford

>>54883888
btc fudders have been wrong at every single turn

>breaking
the only thing they're breaking are the hearts of ethmaxis who actually deluded themselves into thinking bitcoin is going to fail after another 3-4 halvings.

>>54885500
lmao last week you faggots were trying to take our sats by saying the security budget the security budget this week the fees are too high my shitcoin with no demand is cheaper to buy coffee with

>>54883812
it's expensive for whoever is doing this to keep going. I'm confident they can't keep it up for long

>BTC is breaking because it now has a competitive fee market for block space
Lol

>>54883812
Suck my fat cock lmao, BTC will remain untouchable no matter what you chuds say, I'm not selling shit, nor BTC nor my alts, and I'm definitely gonna stay strong to see Rebase launch kek

>>54885865
You don't have one, remember that you gave it up to become a "female"

>>54885940
there's ways to call someone a tranny and then there's this KEK

>>54885865
Kek, your cock ain't fat enough to be satisfying faggot kys

>>54885865
How many times do we have to call you pajeet nigger faggot streetshitter for you to give up?

i just paid 18 euros to send 0.003 BTC to my retirement fund wallet :-(

https://bitinfocharts.com/bitcoin/address/bc1qltmqppz9254dg3wm5rnjzw6us2wv3x5zzp529r

we can't even stack in peace ffs

>>54883888
>6.6 million dollars of transaction fees
Dude thats what, 1 hour of mining rewards? To throttle the entire network for a day?

>>54883887
that chain froze
and the creator is a retard.
>>54884778
only because of the most bizarre "marketing" you do, that and a lack of non-windows builds

>>54887768
not our problem
claim comb or die poor

If the protocol refuses to change, attack vectors will be engineered around the unchanging protocol.

They'll obviously hardfork if it gets crazy, but the hardfork itself will cause unknown price action, so it is fun to watch.

I personally believe this is an attack from the ### allies as they have taken steps in that community to mitigate similar attacks as soon as this attack began a few months ago.

CRYPTO WAR IS ON THE MENU BOYS

>>54883812
Good. BTC is for retarded boomers with zero neuroplasticity.

>>54888979
Im suprised this didnt happen much earlier honestly. A hardfork would be wild at this stage, the biggest thing since 2010

>>54883888
>new protocol makes BTC transactions 100x larger
Wow truly going to replace fiat

>>54889026
I think it would have been impossible to perform this specific attack without first having the NFT mania from the last bull run.

It requires that in order to turn the initial capital from the attack into an organic retail-understood interaction surface.

So basically, without NFTs having exploded, which I dont think is probably part of this because thats a shit ton of capital in aggregate -- you can't convince people that ordinals make any sense.

So while this was always possible, now you can take a relatively small amount of weaponized capital to get ordinals "off the ground" and then get retail to engage with them which obviously chokes the blockchain.

>>54889059
Interesting point.
>attack
Granted 99% of the entire crypto space is inorganic, but do you think ordinals is actually a malicious attack, or is that just how it looks because of the negative symptoms, and could just be people looking to make money in an untapped space?

>>54889059
Just cause there's no where else on the Internet for me to expound on these thoughts to anyone who cares:

I think this is ultimately pretty interesting because there is a noticeable advantage to unchanged protocols that have not encountered an attack, and the rapidly updating protocols (Eth, XMR, etc) are often derided for that feature.

But we haven't dealt with a "oh shit the chain's gonna break isn't it" problem since 2017. Last time it was ugly, this time it will be ugly, next time it will be ugly.

A big difference though is that miners are obviously less decentralized than ever, so with each of these crises and protocol changes, the decision making is increasingly consolidated around nationstates who could build ASICs.

tl;dr: I think we probably leave the banks, leave bitcoin, and literally just have a universe of 200,000 memecoins that only people under 40 can even begin to try to understand and all regulators lose their minds and start breaking into homes looking for seed phrases because they don't understand how this could have happened.

>>54889090
I mean you should do the chain forensics if you are really concerned about whether its organic or attack, but I lean toward attack based on the timing and effects having done no research yet personally. I don't hold BTC so I'm more or less "pro-attack" and I have no need to figure out which of the comrades is kicking off this battle.

>>54887768
>that chain froze
no
>and the creator is a retard.
it's satoshi lmao

last pontification for the thread:

None of the existing proof of work coins scale to being a "winner takes all" protocol.

None of the existing proof of stake coins are sufficiently decentralized.

The future is a MASSIVE basket of coins and arbitrage for those who understand them.

Go to page 20+ of coingecko and find your projects.

>>54889093
>i think we probably leave the banks and have a universe of 20k memecoins
Sure, im positive that shitcoins of all types are lnt going anywheres soon, people love gambling. But if we are to abandon fiat, we need some standardized medium of exchange. I wont speculate what that standard will be, because honestly were probably still decades away and tech will change 20 times by then.
>>54889103
I wouldnt know where to being on that hunt, but aside from stopping the bleeding, that seems to be the most important question, its entirely possible this is part of chokepoint 2.0

>>54883831
No people really aren’t buying them. Just small groups of people trying to capture a non existent market by providing a derivative utility that other layer 1s and 2s do more efficiently. The fad will dissipate bc ordinals can’t offer anything more than novelty.

>>54889150
Im basically saying I don't think we're going to have a standard medium of exchange. Go back in time to regional banks and regional reserve notes before central banking. Then think about that digitally.

You could argue gold or silver were the standards then, but they weren't. It was regional notes + barter around what doesn't work. No one was chopping up spanish dubloons to buy a beer.

So yeah, service and trade barter + whatever memecoin community speaks to you. I don't think we are heading immediately toward any sort of global exchange medium.

Obviously there will be some proposed CBDC to serve that purpose, but I think in real terms, particularly for digital people who do business digitally, it will be very wild west. 100 bloops for a goober and I'll write a script for you.

If you point is that there has to be a trading pair that all other things are traded against as BTC is now.... I mean... Yes for functional markets there has to be, but I don't think we'll have functional markets. I think we'll have very strange peer to peer arrangements between individuals and then like a massive herd of robots who are in some controlled top down dystopian economy and the only way capital will flow between those two sectors is through peer based trade and barter.

But maybe I'm getting a little too far in the future for you. In the next 5 years idk. Depends on how bad this ordinals things really gets I guess, and whether tether or something just happens to depeg at the worst of it cause that would be pretty catastrophic.

>>54889164
>cant offer anything other than novelty
But thats what shitcoins do already. Being on the btc chain seems like it would be highly enticing, and maybe even more trustworthy to normies.

>>54889176
Maybe youre right, but "back in the day" people were making transactions mostly in their local areas and micro economies, not in the the global cyberspace. Anyways, its interesting to think about but over my head

>>54889203
yeah I mean I wouldnt take anything I wrote as truth or prognostication

its just how I'm reading the tea leaves right now. the big message I get is, decentralized ledgers can't scale to 8 billion people.

they work great with small communities, probably up to around 100,000 participants, maybe up to the scale of a current city with a few million.

I see no reason why each city wouldn't have a few of it's own coins aside from the fact that the central power prevents them from doing so.

but if people opt out, or the central power collapses under its own weight, I would imagine cities would be a reasonable place to have a decentralized monetary blockchain with local participants who have shared goals (the continued financial future of their local region and neighbors)

Likewise, digital communities are Internet cities to that effect. Shared values, memes, etc. So each memecoin can be seen as sort of a digital citystate. And there's too many of them and they're too easy to start new ones for the central powers to effectively co-opt all of them. We would bleed them dry if they tried, and we'd just make a new city cause it's cheap here.

Now is the time frens.

>>54889215
have you tried smoking a bit of weed bros.
It does relax you. I think we're being psyoped dude.
If you have a roof, food,clothes,electronics, a car, toys and what not what are we worrying about really. Oh an sex.

>>54889257
I used to have those things, lost most of them in the pandemic and a differing opinion to the mainstream narrative.

I think I'm not alone, but I'm glad the system is still working out for you.

>>54889257
I have all of those things and a reasonably fulfilling life, its still interesting to engage in speculative conversation/thought experiments. Dont let comfort be the death of innovation. But yea, 1st worlders are psyop'd beyond belief

>>54889257
Heady dab frog here. Unless you drive heavy machinery or something, only mental midgets have bad things to say about smoking weed.

Think about it: you are born on a random rock in the middle of black abyss, with a 1:400,000,000,000,000 chance at life, in arguably one of the comfiest periods in recorded history where you get to make funny frog pictures and talk about cookie money. Live a little, just don't go and fuck your brain up with heavy shit.

ckBTC solves this

>>54884834
Wtf there is no cex utilization and no dex created yet if it happens you will regret to not have your moon bag.

>>54889294
I would argue that the material comforts we have enshrined are becoming hollow fillers for a widening gap in physical interactions and tight-knit communities, but its not all bad. Way off the ordinals topic now but its good to actually converse with one of the 7 real human beings on this board at any given time kek
>also, the dab fog is real

>>54889318
are bots really that good? You can tell chatgpt because its polite and stuff.

Ordinals killed my family

>>54889333
checked. Was that joke...

>>54889332
They dont have to be 'that' good on 4chan. Look around kek, most of the board is just posts shilling xy memecoin, fudding link or demoralization threads

>>54888979
Did the eth price fell down or rose after erc token choked its chain?

>>54889342
who is trying to psy op people. The chinese? the russians? the american nazis?
Its like nationwide thing so its might be china or russia.

>>54889348
Well also the jews I guess. But wouldn't they lose from american revolt to put it mildly.

>>54889348
Nation vs nation is the biggest and oldest psyop of all fren, divide and conquer. Its a collection of global leaders.
>>54889345
Not really a fair comparison since eth is intended to host

>>54883888
>It's actually bullish that a single day of shitcoins makes BTC slower than carrier pigeons
the next narrative after digital gold and an inflation hedge is looking bright

>>54889318
It's rare I post on this board. It's flooded with a bunch of marketing campaigners making or flooding threads with their rugs. This BTC Ordinals protocol seems like another scammy NFT run, but watching Coin Bureau's video on it, he makes a great point: while ordinals with their inscribed sats compete for block space amongst regular transactions, this causes fees to go up, which in turn incentivizes mining in light of the dwindling block rewards post-halvening.

If my understanding is correct, this is bullish for Bitcoin bitcoin long term (similar to how NFTs propped up Ethereum to new highs with crazy gas fees), however, the cost of potentially clogging up the network may become offset as miners begin switching back to BTC (for example, some of my mining groups on Facebook is filled with thirsty post-PoS eth miners drooling to turn their rigs back on for something profitable again).

You should read some Anthony Giddens or Richard Wolff. They would agree that as we've become increasingly interconnected, this new clash between globalized abstract systems, cultures and economies is definitely fracturing in terms as far as social solidarity goes. I'd argue the internet has actually bridged the gap in physical interactions, forming new (but yes) more decentralized communities. One could write a book about the pros and cons about that but I would further argue this has dramatically created new prospects for ontological truth. We certainly live in a society.

>>54883831
Food for whales yet again. Wouldn't bother. Besides NFTs are running out of steam. Subcategories like NFE which gives security and insurance makes more sense to me.

>>54889364
Yeah, but on one side, plenty of people will buy btc to get theirs brc, but also the fees rise. I'm not sure if it will fall.

>>54884834
>Is this worth aping into now
Will pass. Got better trends to look at like RWA tokenisation for example. MNICorp is on it, amongst others. That's based.

>>54889457
Meme, I see the basis of the common dumb wining ponzi scheme. You are betting on intelligence right here.

>>54889530
Real products are what sustain at the end of the day. Vaporware has never been ideal.

>>54884834
Kek, more reason you should get into other assets that are yet to take a major leg up. I have hands ona few like Fil and Sylo which are still building momentum and focused on development during the bears.

>>54889215
t. glowing

>>54889740
Got that straight to your head, Anon. Having projects that offer privacy to Ethereum, Binance, BNB Chain, and Arbitrum is quite advantageous to me.

No desktop at the moment and no time to check charts as my wife insisted we go on a trip.
Whats happening to BTC? Are ordinals making each block super fat and expensive?
I am one of those fools thsts waiting for 12k. Give it to me straight, will this dump continue for a while? (I hope so).

>>54883812
Whats an ordinal

>>54891328
Government mandates on how to order transactions inside Bitcoin blocks. Miners have started to follow these mandates

People who have been religiously buying BTC for years BTFO
This kills grandpa coin and there is NO fix for it.

can someone explain to me like I'm a literal retard what's currently going on with bitcoin? why/how is it "breaking"?

>>54891390
it's not breaking, just people started creating shitcoins on it, driving the transactions fees up. high fees = people are using the network, but some maxis are reeeeing because they're inscribing "useless" data on the blockchain

>>54891390
they're using btc for like nfts and shit.
but all that extra traffic is worthless and polluting the network.
but every transaction, you need to mine a new block.
so the next transaction takes longer to process, etc.
it's not so much that btc is breaking, but that it is actually being used, and by actually using it, it brings it closer and closer to death, at a fast rate.

>>54891625
It's not breaking though

>>54891625
>>54891650
its not breaking its just that if you use it you can't use it because it's breaking but it's not breaking

>>54891687
Kek

>>54891625
>>54891687
>it brings it closer and closer to death,
poorfags were never supposed to be transacting btc on the L1 though. they got lucky to get in when fees were low. by now we were supposed to have functioning L2s though, that's the problem

>>54891361
We are now in the post-BRC20 creation era BTC. They will not vanish from the chain. They are now constantly here to clog the mempool even if the current mania dies down

avalanche btc.b > lightning network

>>54891727
how much cocaine do I have to do to believe the things you just typed

the first words in the whitepaper are "a peer to peer electronic cash system" lol wtf never supposed to transact????

Its over bro, we're like 5 days away from Satoshi wallets going active and dumping.

>>54891687
correct.
thanks.

I like the cope that BTC is SUPPOSE to be fucking slow and that expensive transactions are a GOOD THING to mint shit NFTs

>>54891687
>its not breaking its just that if you use it you can't use it because it's breaking but it's not breaking
my god I'm still recoiling because that is such a good explanation.
it's what I tried to say, but I just couldn't get there.

>>54891799
>a peer to peer electronic cash system
big blocks are not the solution to the scaling problem despite satoshi being a big blocker. in the end we'll have more decentralized scaling solutions: PoS L1s like avax or icp, ligthning, etc.

>>54891799
>"a peer to peer electronic cash system" lol wtf never supposed to transact????
you can transact if you're not a poorfag

>>54883812
sit down guys, ill explain you how papa solves this issue

>>54892228
even if you pay for it, how long is confirmation right now?

>>54892267
~10 minutes as usual. it just costs more to be included in the next block