Joined June 2019
Let`s start this #crypto journey.... again !
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Current bitmap floor price spread is so tight - 50¢ 🤯 Be the bitmap 🟧
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Bitmap is the king 👑 Be the bitmap 🟧
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I'm preparing Gateway for testing, and I have a few updates. We need to roll this out carefully, rather than haphazardly. The first alpha test will be specifically for Bitcoin on Demand. That means I will be disabling: 🔸 Gateway to Gateway peers 🔸 All non-Bitcoin native indexes 🔸 Yes, that includes Bitmap indexing I don't want to proliferate a p2p network on shaky ground, and whilst I'm confident with Gateways current capabilities, we need a clean test phase for each layer rather than rolling it all out in one. What will be in this version: 🔸 Bitcoin on Demand 🔸 Full or ranged Bitcoin indexing 🔸 New Bitcoin address schema 🔸 Block/transaction/output explorer Regarding the Bitmap index, I'm taking this opportunity to solve the indexer edge cases once and for all. The first step towards that is a full audit of all edge cases rules, where they result in contested outcomes, and which Bitmaps are affected. For each diverging ruleset track, there will be a hash outcome for each new block. Once we're at that stage, we can pressure indexers and marketplaces to expose their current state hash as a proof. This will be a proof of which track the indexer/marketplace is on. And then we blow up the conversation around edge cases and hash it out between us. Benefits and costs of decision A versus decision B. There is no final "this is the canonical ruleset" declared, just a hash for each possible outcome, and the community who may or may not agree with that outcome or ruleset decision who can audit the outcome of that hash and see exactly which bitmaps are affected. This is the fairest, most Bitcoin way I can think of solving this problem, and Gateway gives us the opportunity to do this once and for all. I'm even holding back giving @lifofifo a canonical index so this can be handled. We cannot ignore this issue any longer. And so this is what I'll be implementing into Gateway. This is rough consensus in action. Expose the truth and let the community decide, just like Bitcoin. I'm setting up a bitmap repository to handle rulesets and edge cases to make this fully visible for all. But first things first, I'll be putting Gateway out soon without any of this. Just Bitcoin. Ordinals will come next. Then Bitmap. Then Gateway peers. Then we can start to open it up to custom indexes before we expand on the p2p capabilities, which is where things will get really exciting. So stay tuned for that first alpha test. It's coming soon.
Introducing Gateway... I've been building a new kind of Bitcoin client. One that ANYBODY can run regardless of storage. Fetch only what you need, when you need it. On-demand, directly from Bitcoin peers. This is at the heart of Gateway. Sparse-by-default deep on-demand p2p-Bitcoin indexer. Now, I recommend you feed this post your favourite AI and have it talk to you directly about it, because I'm about to get into the weeds. And I'm very excited, so it's probably better you ask your AI how this applies to you, rather than leaving a comment that it's too complicated or that you don't understand. With that being said, if you're happy to go hardcore old-school style, and actually... read the thing, here it is! BITCOIN PEERS Traditionally, Bitcoin clients sync nodes by requesting blocks from other peers one-by-one, from zero. This is somewhat impractical for everyday users. Gateway does things differently. You can certainly sync the entire blockchain using Gateway, and become a full Bitcoin Node, and a useful Bitcoin Peer. You can even bring your existing Core node and plug it in if you already have one. But that's not the interesting part. The interesting part is that you don't need that. Seek data directly from Bitcoin Peers, on-demand. ON DEMAND Unlike Core, Gateway does not require you to sync the entire blockchain. You can sync any range, or even just type in a block number in the top bar to fetch the block from a Bitcoin peer directly. This approach is extremely useful for Blocks, but it has some limitations. Transactions (and thus, inscriptions) cannot be resolved directly, without knowing the block number. The latter part of that sentence is the important part. Gateway adds a schema that allows you to type "{tx}.{block}.bitcoin" and resolve a transaction directly from a Bitcoin peer. You can replace {tx} with either tx-hash, or tx-index (which is a new schema for Gateway), and {block} with either block-hash or block-height. For example: 0.0.bitcoin This becomes relevant for inscriptions. An inscription ID is simply: {tx-id}i{inscription-index} So you can resolve inscriptions by including block-number in the scheme: {inscription-ID}.{block}.bitcoin If you know the transaction index, you can even use that instead of transaction ID in inscription ID. That means, so long as you know the block number, any inscription can be resolved on Gateway, on-demand, by asking a Bitcoin peer directly. ORD When it comes to Ord, this is an extra layer on top of Bitcoin. It is an indexing system that takes Bitcoins already heavy data store, and adds its own index that can take roughly a week to sync. For the everyday user, this is not practical. Whilst I've demonstrated how we can fetch inscriptions directly from Bitcoin Peers without Ord, you need to know block number, and the standard in Ord is to use inscription ID, sat number, or inscription number as the key reference. I've added block in the Gateway schema as a useful primitive that enables purely on-demand inscriptions from Bitcoin peers, but that isn't the current standard. INDEXES This is where you can build your own data-store directly from Bitcoin data originated through Bitcoin peers, and either become a useful participant of the network, or take what you need privately. The baseline index is Bitcoin Blocks. However, you do not need that to resolve the other indexes. Each index has an "ephemeral" option, which means to seek the blocks you require from peers, strip the data you need, and discard the blocks. This is useful if you're running this on your everyday computer, and can't be spending so many GigaBytes on Bitcoin. For example, you can index Bitmap without storing a single block. The indexes are generally layered, so you can choose what you would like to index and when. If you index Bitcoin Blocks, you will be asked if you also want to index the other downstream indexes in parrallel, since it would be quicker to do that than re-run the index. If you already have a Bitcoin Node, you can build other indexes on top of that. But you don't have to have the Bitcoin blocks to sync inscriptions, Bitmap, or any other index we implement. Now, this is still some heavy lifting, but once we start activating the Gateway peer network, we can supercharge these capabilities. GATEWAY PEERS Gateway users can connect to each other in a peer-to-peer network, just as in Bitcoin. That means that, whatever data you need, you can ask Gateway peers directly and skip indexing directly from Bitcoin data, with Bitcoin as the hashed proof verification layer. So, anything your Gateway node doesn't know, or is impractical for you to find through Bitcoin peers, can be served by Gateway peers. This vital peer layer can become more useful as we start adding other cases for the Gateway peer network, for example, you could opt-in to become a persistent relay for a Bitmap or Ord gaming webRTC layer. We can even serve this p2p mesh layer to websites and ordinals over the web, so in the future, you will be able to connect to gateway from a website, or from an Ordinals inscription. For now though, it requires the Gateway client. But the dream is that you can become a useful OR private participant in Gateway from different angles. LONG STORY SHORT A sparse-by-default on-demand bitcoin node, with full-range indexing and p2p sharing with gateway nodes. EARLY RELEASE TESTERS I am seeking early testers who are happy to put the client through the ringer, vet the data, or just try and break the thing so we can make sure we ship a proper robust client. You can comment on this post if you're interested, and I'll share details when it's ready for testing. At this stage, I just wanted to let you know that I have a client, it's working, it's almost ready for testers. WHAT NOW? This is just one of the things I've been working on and excited about recently, but it's the one I think is the most important in terms of vital infrastructure that can benefit the entire stack from Bitcoin peers to Bitmappeers. Stay glued to my timeline for more! 👀 Comment if you want to get involved. 💬
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CryptoMagnus retweeted
gm
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CryptoMagnus retweeted
Bitmap always shows up 🟧
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CryptoMagnus retweeted
reconnecting. . .
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Buying heavy bitmaps (billionaire, 100k out, 250k out) at floor prices feels like 👇 Be the bitmap 🟧
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CryptoMagnus retweeted
Which floors am I sweeping!?? Jks, I received an offer after 6+ years that I couldn’t refuse. More on this tomorrow. Time to celebrate 🍾
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Some offers are higher than your bids. Be the bitmap 🟧
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"The walle't signature did verify.. " both with @xverse and @unisat_wallet. Can you fix it @ordinalswallet?
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Better, but still recieve "This purchase was already submitted" after signing and pressing "Buy now" button. @ordinalswallet
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I've made a significant breakthrough.
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Check out new chat rooms that @Satflow has built for collections. Gonna simply leave this here. Bitmapers know how to reply 😉
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CryptoMagnus retweeted
ppl don’t realize how close we are to all time highs..
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Bitmappers are on-fire right now. I've got some things up my sleeve too! 🟧
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Repost if you still hold your bitmaps 🟧
Repost if you still hold your bitmaps 🟧
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So glad they have added fee rates! Awesome. Keep it up! Be the bitmap 🟧
🔖 WE FOUND A BITCOIN FEE-RATE OUTLIER 📛 We analyzed approximately 955,000 Bitcoin blocks to classify their average fee rates and identify extreme values. In our historical scan, Block #157235 recorded the highest average fee rate we found in the dataset: 1,143,052 sat/vB Block #157235: • Date: December 12, 2011 • Transactions: 31 • Total fees: 171.84649523 BTC • Weight: 61.1 kWU • Miner: Yourbtc.net The 171.84649523 BTC figure represents the total fees paid by the transactions in the block, not the average fee rate. Using the explorer’s displayed rounded weight gives an approximate fee rate of 1.125M sat/vB, while our dataset calculates 1,143,052 sat/vB from the underlying block data. The difference is consistent with the rounded weight displayed by the explorer. This analysis also led to an expansion of BitmapCore’s classification system. 16 NEW FEE-RATE CLASSIFICATION TAGS We added 16 new fee-rate tag categories: fee_rate1k · fee_rate2k · fee_rate3k · fee_rate4k · fee_rate5k · fee_rate6k · fee_rate7k · fee_rate8k · fee_rate10k · fee_rate12k · fee_rate14k · fee_rate17k · fee_rate20k · fee_rate30k · fee_rate50k · fee_rate100k These categories classify Bitcoin blocks according to their average fee rate (sat/vB) within their defined ranges. With these additions, BitmapCore now has 72 classification tags covering different on-chain properties of Bitcoin blocks. The distribution is highly uneven at the extreme end. In our scan, only 144 blocks exceeded 8,000 sat/vB. Block #157235 stands far above that range, with an average fee rate of 1,143,052 sat/vB. bitmapcore.net Every classification is derived from Bitcoin block data and cross-checked against public blockchain explorers. unisat.io/ mempool.space/ blockstream.info/ #btc #bitcoin #bitmap
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