03/02/2023 Giant Bitcoin 'Taproot Wizard' NFT Minted in Collaboration With Luxor Mining Pool

Luxor Mining collaborated with independent developer Udi Wertheimer to mint the NFT advertising “Magic Internet JPEGs” in “the largest Bitcoin block ever mined.”

Independent developer Udi Wertheimer claims he minted a giant image of what appears to be a bald, bearded wizard donning sunglasses and promoting “magic internet JPEGs” on the Bitcoin blockchain via the Ordinals protocol.

His announcements in the Discord channel “taprootwizards.com” and on Twitter sparked further flames of division between Bitcoin purists and Ordinals proponents. The block that minted the non-fungible token (NFT) was mined by bitcoin mining firm Luxor Technologies, which said it was “the largest Bitcoin block” ever mined.

Battle lines were drawn when the Ordinals protocol, which stores non-fungible tokens on Bitcoin, launched on the dominant blockchain last month. That showdown created two factions – purists who insist on using bitcoin (BTC) exclusively for payments and Ordinals fans who welcome NFTs, including this “Taproot wizard” sketch that nearly filled an entire 4 megabyte (MB) block, incurred no transaction fees (although a premium off-chain fee was likely paid) and left Bitcoiners of both stripes mystified.

The image itself is a throwback to anearly Bitcoin memefeaturing a similar wizard, crudely rendered in MSPaint, inviting all and sundry to “Join us” on the then-popular r/bitcoin subreddit.

Bitcoin transaction blocks are capped at 4MB, while individual transactions are limited to 1MB unless a user directly approaches a miner to process a larger non-standard transaction (like the wizard NFT) that fills an entire block. The image, which was a massive 3.94 MB, had many Bitcoiners asking: Who would go through the trouble of processing this non-standard NFT mint (or “inscription” in Ordinals lingo) and why?

Earlier Thursday, Wertheimer tweeted about the Taproot wizard, stating that “we made history” and linking to the Taproot Wizards Discord channel. The channel contains a Jan. 31 announcement message from Wertheimer alluding to the future minting of the Taproot Wizard.

He and Luxor CEO Nick Hansen collaborated to ensure the Taproot wizard NFT was included in a block mined by Luxor, according to a Luxor spokesperson.

Amid much online criticism, Luxor Chief Operating Officer Ethan Vera tweeted the company views the Taproot Wizard as “short term R&D” as it looks to maximize the revenue potential for both the company and its clients.

"Luxor's payout method is based on a full-pay-per-share model, meaning miners get paid an equal market rate for their hashrate based on the total value of bitcoin and transaction fees mined in a given timeframe," Colin Harper, head of research and content at Luxor, told CoinDesk.

"Miners are paid the same regardless of how many (or how few) blocks Luxor mines in a given timeframe. As such, any transactions that weren't included in the NFT block would have been included in subsequent blocks and the variance would even out. This block did not affect miner compensation."

Veteran Bitcoin Core developer Luke Dashjr, who vehemently opposes having Ordinals on Bitcoin, says he’s developed a rudimentary “spam filter” that screens forinscriptionsand prevents them from being relayed through the Bitcoin network. An inscription is when arbitrary content (like text or an image) is added to sequentially numbered satoshis (sats) – the smallest units in Bitcoin – to create unique “digital artifacts.”

Critics of Ordinals argue that NFTs will compete with traditional payment transactions by crowding blocks and driving up transaction fees.

Casey Rodarmor, creator of the Ordinals protocol, disagrees but isn’t fazed by Luke’s new invention. In fact, he welcomes it.

“It filters inscriptions from an individual Core node’s mempool,” Rodarmor told CoinDesk. “I actually told him how to look for inscriptions to filter them.”

Arts

https://www.coindesk.com/tech/2023/02/02/giant-bitcoin-taproot-wizard-nft-minted-in-collaboration-with-luxor-mining-pool/

Interesting NFTs
#88183
By OthersideDeployer
Magnetic Forces v3
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The King
Part of a series of three artworks entitled "The Rulers". Inspired by the rulers of the animal kingdom, african mandalas & diamonds. A very complex digital illustration, each lion consists of hundreds of custom diamond shapes. Each background is an intricate custom mandala that compliments the lions facial features.
Mars House
Mars House is the first NFT digital house in the world. Upon purchase of Mars House NFT, 3D files will be sent to the new owner by Krista Kim Studio Inc. for file upload to the owner’s Metaverse. Technical support for Mars House integration on Metaverse is provided. (Architectural Digest, March 14, 2021) “Kim ventured into NFTs while exploring meditative design during quarantine; her hope was to use the influx of digital life as an opportunity to promote wellbeing. Comprised entirely of light, the visual effects of her crypto-home are meant to omit a zen, healing atmosphere. The artist also partnered with musician Jeff Schroeder of The Smashing Pumpkins to create a calming musical accompaniment. So what makes the file a compelling purchase? Beyond the promise of buying into the lucrative NFT market, the home and all of the furniture in it can be built in real life by glass furniture-makers in Italy, as well as through MicroLED screen technology. Kim also has a strong visions the art being projected, as well. “Everyone should install an LED wall in their house for NFT art.” says the artist. “ This is the future, and Mars House demonstrates the beauty of that possibility.” The owner is in agreement to the following terms and conditions upon purchase of Mars House (hereby referred to as Mars House NFT): The collector agrees to own one copy of Mars House NFT on a single Metaverse platform. The collector is required to register Mars House NFT ownership with Krista Kim Studio Inc. Krista Kim Studio Inc. will provide technical support to upload and integrate Mars House NFT on a Metaverse platform. If/when Mars House is resold, the collector is required to delete all Mars House NFT 3D file(s) from his/her Metaverse, and provide verification of deletion to Krista Kim Studio Inc. before new 3D files are transferred to the new owner by the artist. The new owner is required to register Mars House NFT ownership with Krista Kim Studio Inc. Krista Kim Studio will send Mars House NFT 3D files directly to the new owner and provide support for Metaverse integration. This verified ownership transfer system will be appointed to Krista Kim Studio Inc. trusteeship, after 40 years of the date of the sale. Krista Kim Studio Inc. retains ownership of Mars House NFT copyright. All rights reserved. All reproductions of Mars House (NFT) in both digital and physical formats, are restricted. Mars House NFT physical furniture pieces, made of tempered printed glass in Italy, may be commissioned by the collector as NFT physical pieces.
/ TWO BLINDFOLDED EYES /
Trust your Intuition, two blindfolded eyes look much clearer than a blind mind.