damian at willtech.com.au [ARCHIVE] on Nostr: 📅 Original date posted:2022-02-23 📝 Original message:At the moment it is ...
📅 Original date posted:2022-02-23
📝 Original message:At the moment it is indisputable that a particular satoshi cannot be
proven, an amount of Bitcoin is a bag of satoshi's and no-one can tell
which ones are any particular ones **so even if you used the system of
ordinals privately, and it might make interesting for research, I cannot
see that it would be sensible to be adopted** as it can only cause
trouble. If I receive some Bitcoin I cannot know if some or any of those
have been at any point in the past been stolen, I assume the transaction
is honest, and in all likelihood it is likely that it is. The least
reasonable thing I could expect is some claimed former holder of some
ordianls turning up to challenge me that it was their stolen Bitcoin was
some of what I received.
NACK
-DA.
On 2022-02-23 18:02, damian at willtech.com.au wrote:
> Well done, your bip looks well presented for discussion. You say to
> number each satoshi created? For a 50 BTC block reward that is
> 5,000,000,000 ordinal numbers, and when some BTC is transferred to
> another UTXO how do you determine which ordinal numbers, say if I
> create a transaction to pay-to another UTXO. The system sounds
> expensive eventually to cope with approximately 2,100,000,000,000,000
> ordinals. If I understand ordinals 0 to 5,000,000,000 as assigned to
> the first Bitcoin created from mining block-reward. Say if I send some
> Bitcoin to another UTXO then first-in-first-out algorithm splits those
> up to assign 1 to 100,000,000 to the 1 BTC that I sent, and
> 100,000,001 to 5,000,000,000 are assigned to the change plus if any
> fee?-DA.
>
> On 2022-02-23 11:43, Casey Rodarmor via bitcoin-dev wrote:
>> Briefly, newly mined satoshis are sequentially numbered in the order
>> in
>> which they are mined. These numbers are called "ordinal numbers" or
>> "ordinals". When satoshis are spent in a transaction, the input
>> satoshi
>> ordinal numbers are assigned to output satoshis using a simple
>> first-in-first-out algorithm.
📝 Original message:At the moment it is indisputable that a particular satoshi cannot be
proven, an amount of Bitcoin is a bag of satoshi's and no-one can tell
which ones are any particular ones **so even if you used the system of
ordinals privately, and it might make interesting for research, I cannot
see that it would be sensible to be adopted** as it can only cause
trouble. If I receive some Bitcoin I cannot know if some or any of those
have been at any point in the past been stolen, I assume the transaction
is honest, and in all likelihood it is likely that it is. The least
reasonable thing I could expect is some claimed former holder of some
ordianls turning up to challenge me that it was their stolen Bitcoin was
some of what I received.
NACK
-DA.
On 2022-02-23 18:02, damian at willtech.com.au wrote:
> Well done, your bip looks well presented for discussion. You say to
> number each satoshi created? For a 50 BTC block reward that is
> 5,000,000,000 ordinal numbers, and when some BTC is transferred to
> another UTXO how do you determine which ordinal numbers, say if I
> create a transaction to pay-to another UTXO. The system sounds
> expensive eventually to cope with approximately 2,100,000,000,000,000
> ordinals. If I understand ordinals 0 to 5,000,000,000 as assigned to
> the first Bitcoin created from mining block-reward. Say if I send some
> Bitcoin to another UTXO then first-in-first-out algorithm splits those
> up to assign 1 to 100,000,000 to the 1 BTC that I sent, and
> 100,000,001 to 5,000,000,000 are assigned to the change plus if any
> fee?-DA.
>
> On 2022-02-23 11:43, Casey Rodarmor via bitcoin-dev wrote:
>> Briefly, newly mined satoshis are sequentially numbered in the order
>> in
>> which they are mined. These numbers are called "ordinal numbers" or
>> "ordinals". When satoshis are spent in a transaction, the input
>> satoshi
>> ordinal numbers are assigned to output satoshis using a simple
>> first-in-first-out algorithm.