mononaut
@mononautical
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developer, spacefaring primate, international treasure hunter. building for Bitcoin at @BitfeedLive and @mempool Find me on Nostr at [email protected]
NGC 2174
Joined April 2021
here's the full text, reassembled from 9,885 separate op_returns 😬.
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here's the full text, reassembled from 9,885 separate op_returns 😬.
the weird op_returns in the mempool all trace back to this initial transaction, so it looks like someone is spending about $22k to immortalize some religious screed on-chain 🤯. ofc it would have been at least 4x cheaper as an inscription.
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the weird op_returns in the mempool all trace back to this initial transaction, so it looks like someone is spending about $22k to immortalize some religious screed on-chain 🤯. ofc it would have been at least 4x cheaper as an inscription.
someone just dumped a block or two's worth of weird op_return stuff into the mempool at 5 sats/vb 🤔
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someone just dumped a block or two's worth of weird op_return stuff into the mempool at 5 sats/vb 🤔
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just under 1% of this block by weight is occupied by these Stamps SRC-20 shitcoin transactions, each carrying 70-80 bytes of data in fake P2WSH outputs.
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uh oh
Time to bring back the light on my favorite block over the past two years, block 866558. This block has been mined on the data-free block template of OCEAN by @LocoSlug. It was his choice not to let a single inscription, rune, or whatever other shitcoins in his block.
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example 3: 1914 transactions, ~999.8 kvB. A) 38.8 - rate of the 957th transaction.B) 3.09 - rate of the 499.9kth vbyte.C) 3.09 - rate of the 500kth vbyte (same transaction)
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example 2: 7 transactions, 8454 vB. A) 8.44 - rate of the 4th transaction.B) 1.01 - rate of the 4227th vbyte (last big transaction).C) 0 - rate of the 500kth vbyte (empty space)
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example 1: 1800 transactions, ~644kvB. A) 6.98 - rate of the 900th transaction.B) 8.40 - rate of the 322kth vbyte.C) 2.17 - rate of the 500kth vbyte
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The most informative definition of "median block feerate" is the effective rate of:. A) - the N/2th transaction (middle by count).B) - the W/2th occupied vbyte (middle by weight).C) - the 500kth vbyte (middle of available space). examples to follow.
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"you miss 100% of the shots you don't take"
Two Bitcoin wallets that had been dormant for 14 years moved 20,000 BTC this Thursday, initially worth $7,800 in 2011 and now valued at $2.18 billion.
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**correction**. it has been pointed out that this isn't the sole reason that the chain is immutable. a full list of relevant factors is enumerated in the attached document:.
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that metric is also available for any specific block via the getblock and getblockheader RPCs
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you can find out how many hashes it took to construct the current blockchain by running. bitcoin-cli getblockchaininfo. "chainwork" is a hexadecimal number representing exactly that
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if you added a single period to Satoshi's genesis message, that would change the hash of every block from genesis to tip. it would then take ~642 octillion hashes to find new nonces for every block to reconstruct the chain with valid proof of work.
If you ask a bitcoiner what a blockchain is, it’s remarkable how few people will mention the defining trait of blockchains - that each block header commits to the hash of the previous one. That’s what makes the chain immutable.
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If you ask a bitcoiner what a blockchain is, it’s remarkable how few people will mention the defining trait of blockchains - that each block header commits to the hash of the previous one. That’s what makes the chain immutable.
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RT @softsimon_: Two Bitcoin wallets that had been dormant for 14 years moved 20,000 BTC this Thursday, initially worth $7,800 in 2011 and n….
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and another DATUM block constructed with Knots coin-age priority, this time by "UpgradeYa 21M"
interestingly, they seem to be building templates using Bitcoin Knots, with "coin-age priority" enabled - prioritizing the first 100kvb of transactions by the age and value of the inputs rather than fees alone
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