Timechain Collectibles 🕰 Bitcoin Timepieces
21 grails #356-377
1st to be inscribed exclusively and consecutively in single block (774424)
Clocks out! 🕰
🕰️ SERIES 2 MEGA THREAD🕰️
Timechain Collection Series 2 tells the story of the Timekeepers past, present and future - the holders and creators of the mysterious #Bitcoin timepieces depicted in Series 1.
Reminder: Elizabeth Warren doesn't think you should be able to self-custody your jpegs. We must build around the tyrants. This means using self-custody and decentralized marketplaces.
Timechain Series 1, now approaching it's 1st birthday, was perfectly inscribed in a single block. 21 timepieces with consecutive inscription numbers from 356-377.
The timepieces symbolize bitcoin as the heartbeat of a civilization and the unending arrow of time.
I came to as realization today talking to @dylanleclair on spaces and then @americanhodl8 on clubhouse after.
The on chain apex spammers / ruthless capitalists might actually do more to save #Bitcoin from “clean block” censorship by wall st capture than StratumV2 🤯
1) The amount of block space demand from spammy BRC20 speculation txns has been a significant source of mining revenue this last year.
2) The mining dynamic has shifted significantly from altruistic bitcoin-aligned miners in the early days to pure capital market agnostic ruthlessness.
3) As hash power has concentrated to US Public Companies, the risk of US centralization is real.
4) The supply of international speculators gambling on anything, including on JSON data inside Bitcoin transactions, however silly, is a significant factor that we’ve not had a to this level in bitcoin’s history as money is dying globally at a faster rate.
5) I did an unbiased look at the amount of money and attention going into inscriptions based Bitcoin “metaprotocols” like BRC20 and it is significant. It’s not going away. As @DavidFBailey points out, there’s an Exodus from Crypto to Bitcoin which is hasn’t even really started yet.
6) After the halving, the block reward will be way less of a factor in mining bitcoin, the economic incentive to cater to speculative onchain transactions will be MUCH greater than it even is now.
7) FOMO to mine bitcoin is increasing globally as it becomes more profitable to mine, meaning the network impact for US companies forced to comply with an ESG or OFAC clean block law will be much lower.
8) In this way, blockspace demand, even if by “spam,” is a free market force that will keep bitcoin censorship-resistant.
Onchain detectives gonna have a field day over the next week finding all the stuff people inscribed before and straight after the Jubilee!
Hands down one of the best Parent Child collections in terms of provenance was inscribed
Will leave the details to the creator to release but it’s pretty legendary!
A brief history of "spam" on Bitcoin
15 years ago today Satoshi inscribed this headline into the timechain genesis block
4 years later in 2013 the whitepaper pdf was stored in a a single tx with 948 outputs
2014 counterparty assets launch
2022 @rodarmor inscribes the skull
The jubilee happens this week at block 824,544 putting a cap (for now) on cursed inscriptions!
Each Series 2 Timekeeper has a cursed twin that is among the earliest cursed and parent/child inscriptions (March '23).
Have they seasoned long enough yet? 🕰️
The more I think about it, the more I realize the source of the subconscious anger that comes from with those suffering from jpg derangement syndrome.
@rodarmor out cypherpunked all of the influencers.
He didn’t ask for permission, he “shipped it and ripped it”.
What is a Decentralized Mint?
🟠On-chain mint declaration with verifiable proof of ownership and rules
🟠Deterministic randomization by block hash
🟠Peer to peer atomic transactions via PSBT
🟠No trusted 3rd parties or centralized exchange
🟠Decentralized broadcasting via NOSTR
🚨Elizabeth Warren doesn't just want to ban self-custody of your bitcoin, but of your jpegs too. 🚨
Centralized marketplaces will be forced to comply if mandated.
The way to defeat this authoritarian nonsense is to create many decentralized and trustless alternatives.
Agree about the blocksize limit preventing bloat, disagree on inscriptions being noise.
Inscriptions set a new floor in the blockspace fee market because it's the purest and most permanent canvas for digital artifacts.
https://t.co/z23TIWfQxX
Some saying the stamp/inscription bloat proves why #Bitcoin needed to increase the blocksize, when it actually proves the opposite:
The blocksize limit is the most important thing preventing this bloat from being a serious concern & allowing fees to drain capital from spammers.
In the long run this is just noise, imo.
What's absurd about this is not the $40k price for digital art, but that prior to ordinals it was possible to purchase kilobytes of the scarcest digital substrate known to man for $1.
https://t.co/0laE7lccoy