pull down to refresh
21 sats \ 3 replies \ @028559d218 1 Dec \ parent \ on: Cobra says developers are working to activate CTV bitdevs
My understanding is that it's the other way around.
Segwit made them cheaper... and taproot made them possible.
Taproot loosened the scripting language... to allow for arbitrary data.
And segwit allowed for larger amounts of data overall (to make Lightning possible at a later date) as well as making data cheaper to add to blocks (up to 4mb total).
Then crypto people came along later to sell jpegs to idiots. They did it on ethereum, then it got old. Now they've tried it on Bitcoin... and eventually people will figure out it's dumb and move on. Each inscription created, much less sold, is someone losing money. Eventually they run out of money. Rare sats, ordinal numbering schemes, memecoins... they're all the same.
They each cost the 'buyer' in opportunity cost by overpaying greatly for certain sats.. leaving them with fewer sats. Eventually they run out and the nfts are forgotten about.
No, Taproot just removed limits on script size. But you could store the same amount of data in multiple transactions instead of one.
reply
And segwit allowed for larger amounts of data overall (to make Lightning possible at a later date)
Lightning didn't need larger blocks but the transaction malleability fix that SegWit included:
While transactions are signed, the signature does not currently cover all the data in a transaction that is hashed to create the transaction hash. Thus, while uncommon, it is possible for a node on the network to change a transaction you send in such a way that the hash is invalidated. Note that this just changes the hash; the output of the transaction remains the same and the bitcoins will go to their intended recipient.
Before SegWit, tx ids were malleable and thus a lightning node could lose track of its channel open tx (and any txs that depend on it) while it's getting confirmed.
reply
Thank you I did not know this. Learn something new every day.
reply