Runes protocol activates on Bitcoin at block 840000
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55 sats \ 0 replies \ @TheBTCManual 14 Apr
Looks like the rune minting is going into overdrive, hopefully this is just because its testnet bitcoin and when you have to spend real bitcoin and this thing launches it falls on its arse, maybe a slight pump in the begining same with ordinals, sigh, this really tiresome
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55 sats \ 2 replies \ @jeff 14 Apr
Does somebody have a technical tl;dr of the likely implications on the mempool, blockspace demand, and the utxo set, for runes?
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2312 sats \ 1 reply \ @supertestnet 14 Apr freebie
The mempool will likely contain more transactions because runes will likely have an initial novelty/popularity
Blockspace will likely be scarcer due to the greater number of transactions trying to get into the blockchain (hopefully their initial popularity will wear off)
The utxo set is unlikely to increase significantly because runes are encoded as op_returns, which have no impact on the utxo set
To create a rune you must spend at least one utxo, but you need not create any. Most users will probably create a new one to replace their old one with change, so they will consume utxo A, create utxo B, and create an op_return, which is not a utxo -- so, overall, no material impact on the utxo set (hopefully)
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0 sats \ 0 replies \ @jeff 14 Apr
Thank you sir!
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100 sats \ 0 replies \ @grayruby 14 Apr
Mempool will be clogged at launch and clogged when they do their stupid mints and everyone will forget about in 6 months like ordinals.
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10 sats \ 0 replies \ @OT 14 Apr
5 days to move any onchain BTC. After that it might be a while for reasonable fees
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75 sats \ 0 replies \ @ZezzebbulTheMysterious 14 Apr
There is no protocol that activated at testnet block 840000; this is a lie told to you by spammers. They have a new spam encoding, and want to abuse the testnet chain storage with trash.
They are very uncool people. You should laugh at their stupidity, and shame them for their destructive and anti-Bitcoin agenda.
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0 sats \ 0 replies \ @Rsync25 14 Apr
Spams on testnet. WTF!!
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0 sats \ 3 replies \ @IamSINGLE 14 Apr
Can we not use the test net anymore? Does it mean that developers will now use Mainnet? I can't understand too much, sorry.
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5 sats \ 2 replies \ @ZezzebbulTheMysterious 14 Apr
Developers will have to compete with spammers for the testnet block space. It will make it harder to develop more, useful things on Bitcoin because a bunch of uncool losers have decided that only they can use the public park, play horrible music and shit over everything.
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0 sats \ 1 reply \ @lloyddunne OP 15 Apr
false. developers will just use another one like mutinynet etc
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0 sats \ 0 replies \ @ZezzebbulTheMysterious 16 Apr
so..... true?
Why are you defending this crap?
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0 sats \ 1 reply \ @rtr 14 Apr
What exactly am I looking at here? Are these test transactions from Runes?
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0 sats \ 0 replies \ @lloyddunne OP 15 Apr
yes, test transactions gearing up for the launch of Runes on mainnet at block 840000
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0 sats \ 2 replies \ @nym 14 Apr
How is this different from ordinals?
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6 sats \ 1 reply \ @lloyddunne OP 15 Apr
Ordinals are an opt in way of viewing individual units of Bitcoin, by assigning them certain rarities.
Inscriptions are the NFTs on Bitcoin.
Runes is the fungible token protocol on top of Bitcoin.
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6 sats \ 0 replies \ @ZezzebbulTheMysterious 16 Apr
Its not opt-in. You cannot opt-out. Spam is by definition not opt-in.
Why do you support this trash?
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0 sats \ 1 reply \ @Coinsreporter 14 Apr
Congratulations!
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75 sats \ 0 replies \ @ZezzebbulTheMysterious 14 Apr
Congratulations on your destruction of this testnet generation. You vandals have no idea what you are doing. You know it will probably get abandoned now.
Stop it.
You are not building anything of value, you are consuming resources, wasting everyone’s time and spamming.
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