1. Meetup # 9 – February 9, 2023
Meetup # 9 – February 9, 2023
2. 2
Agenda
Agenda
Mission: “Our mission is to share bitcoin knowledge, tools, and resources in order to grow adoption within the local Round Rock community.
The purpose of this group is 2 fold:
- Share knowledge while discussing tools, resources, and benefits of the Bitcoin network for advancing humankind.
- Peer to peer networking with local bitcoiners in order to grow adoption by small businesses within our community.
Location(s):
- Lamppost Coffee 6-7PM
- BrassTap – 7- ???
Rules:
No shitcoining
No pictures/video unless we agree ahead of time
Chatham house – speakers should not be attributed
Announcements:
OshiApp Lamppost Gift Cards
The Bitcoin Company Honey Badger – Free Sats!
Circular Economy (Satoshi Square) - Azteco Vouchers
Bitcoin Magazine Sponsorship – 50% Off Bitcoin 2023 & The Bitcoin Games - Miami
BTCPayserver for Donations
Stickers from MVDEX & Lucho Poletti
Questions:
Who has made an on-chain bitcoin transaction?
Who has made a lightning transaction?
Who is running a bitcoin full node?
3. 3
Connect to our node
Connect to our node
02dd5649b3b872024e6c9cac775fdea95f08c05a5fa9575e96e214b6a90baed438@z7wmavvxd
irafksqhm2mwmfvujymsfzwyf7tzitmrzfgn6fynn2fioqd.onion:9735
Open a channel with us and we will open one with you
4. 4
Donate some sats to our BTCPayserver
Donate some sats to our BTCPayserver
Goes to paying for our meetup costs and outreach
5. 5
Connect w/ us on Twitter @RBitcoiners
Connect w/ us on Twitter @RBitcoiners
Give us a follow!
6. 6
Find Us on NOSTR
Find Us on NOSTR
NIP-05 ID: roundrockbitcoiners@nostrplebs.com
NIP-05 ID: roundrockbitcoiners@nostrplebs.com
Npub17ysayggwumkpkpgsq75axd7ed9guw03wz9jldz5d0zrkgz0cja2qd09tzu
wss://nostr.roundrockbitcoiners.com
Is this the real Web 3.0?
8. 8
OMG Ordinals – NFTs on the blockchain?
OMG Ordinals – NFTs on the blockchain?
Do ordinals break bitcoin’s fungibility?
Must use ord wallet
9. 9
What is Ordinal Theory?
What is Ordinal Theory?
●
This is not a new idea. First proposed in 2012 by Johnson Lau
●
Although bitcoin is designed as fungible, it is possible to assign an unique serial
number to each atomic unit (aka satoshi).
●
With this serial number, a satoshi may represent more than its face value (e.g.
colored bitcoin, smart property, securities)
●
Ordinals overview
●
Ordinal theory does not require a sidechain or token aside from Bitcoin, and can be
used without any changes to the Bitcoin network. It works right now.
●
Ordinal theory imbues satoshis with numismatic value, allowing them to be collected
and traded as curios.
●
Individual satoshis can be inscribed with arbitrary content, creating unique Bitcoin-
native digital artifacts that can be held in Bitcoin wallets and transferred using Bitcoin
transactions. Inscriptions are as durable, immutable, secure, and decentralized as
Bitcoin itself.
Numismatic curios
10. 10
Ordinals theory gives us the following rarity
Ordinals theory gives us the following rarity
levels:
levels:
common: Any sat that is not the first sat of its block
uncommon: The first sat of each block
rare: The first sat of each difficulty adjustment period
epic: The first sat of each halving epoch
legendary: The first sat of each cycle
mythic: The first sat of the genesis block
11. 11
What’s the big deal?
What’s the big deal?
What problems do you foresee w/ Jpegs on the main?
13. 13
Show me the data!
Show me the data!
Pierre’s node data showing ord inscriptions in red
14. 14
Show me the data!
Show me the data!
Blue blocks on mempool.space
15. 15
What enabled this?
What enabled this?
●
SegWit Upgrade in 2018 increased block size from ~1Mb to ~4Mb
●
Taproot upgrade enabled inscriptions to take advantage of the witness data discount
(originally intended to encourage smart contract usage)
16. 16
What does the ordinals creator have to say?
What does the ordinals creator have to say?
17. 17
Where can you find out more?
Where can you find out more?
ordinals.com
See the latest ordinals and inscriptions.
docs.ordinals.com
Understand ordinal theory and inscriptions.
Have Ordinals And Inscriptions
Ruined Bitcoin?
Watch a short video that outlines some of the pros and
cons.
A Comprehensive Explanation
of Ordinals NFTs on Bitcoin
A review by Tara Annison
