Category: Udi Wertheimer

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Controversy Swirls Around Bitcoin’s BIP-420: Push Behind Opcode ‘Isn’t in Good Faith,’ Says Developer

April 23, 2024

On Monday evening, Taproot Wizards co-founder Udi Wertheimer unveiled a Bitcoin Improvement Proposal (BIP) that reintroduces the OP_CAT opcode to Bitcoin. This opcode could facilitate more streamlined and efficient decentralized file hosting systems, payment channels, and sophisticated Bitcoin smart contracts by minimizing reliance on intricate cryptographic techniques. However, Bitcoin developer Luke Dashjr has labeled the…
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Former NFL Star Russell Okung’s Crypto Adoption Comments Ignite Bitcoin vs. Stablecoins Debate

February 21, 2024

Comments on Lightning Network adoption, made by Russell Okung, a former NFL star who is among the first to receive part of his salary in crypto, sparked a discussion that highlighted the opposing opinions of the crypto community about the usage of bitcoin and stablecoins in emerging markets. Russell Okung Ignites Discussion on Bitcoin vs.…
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Taproot Wizards Reveal Bitcoin’s Onchain Payment Struggles During $15M Sale

February 19, 2024

Sending bitcoin onchain remains a poor payment experience despite the hype surrounding the leading crypto asset, according to Taproot Wizards founder Udi Wertheimer. In a recent post-mortem of a high-volume sale using bitcoin, Wertheimer detailed several pain points with onchain payments including long confirmation times, lack of payment amount enforcement, high fees, and insufficient Lightning…
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Bitcoin Core Dev Discusses ‘Firing’ All Miners With PoW Algo Change: Feisty Exchanges Mark Growing Divide

December 18, 2023

Over the last ten years, Luke Dashjr has emerged as a key player in the realm of Bitcoin development and the network’s open-source software. His opposition to specific trends within the Bitcoin ecosystem has gained more attention lately. He has labeled Ordinal inscriptions and non-fungible tokens (NFTs) on the Bitcoin platform as detrimental to the…
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Original Bitcoin Wizard Artist Raises Nearly $150,000 in BTC via Lightning, Despite Criticism From Bitcoin Maximalists

February 21, 2023

On Monday, crypto proponent Udi Wertheimer shared a story on Twitter explaining how he and the Taproot Wizards helped an artist who created the original 2013 bitcoin wizard meme raise nearly $150,000 in bitcoin. While the minting and sale were successful, Wertheimer explained that bitcoin maximalists and the r/bitcoin moderator Bashco disliked it. Artist Who…
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More Than 7,000 Ordinals Inscriptions Have Already Been Included on the Bitcoin Blockchain

February 6, 2023

Ordinals inscriptions, viewed as a kind of Bitcoin-native NFTs, are picking up steam among some Bitcoin circles, even though the procedures to issue them are far from user-friendly. The protocol, which was unveiled in January, has already served to bring more than 7,000 inscriptions directly to the Bitcoin chain, with some collections already present. Ordinals…
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Debate Intensifies Over Significance and Implications of Ordinal Inscriptions on Bitcoin Blockchain

February 4, 2023

During the past two weeks, members of the cryptocurrency community have discussed the non-fungible token (NFT) concept known as Ordinals. Since the 3.96 MB block (#774,628) was mined, there has been a significant increase in Ordinal inscriptions on the Bitcoin blockchain. Ordinal Inscriptions on Bitcoin Blockchain Spark Debate Among Crypto Community The controversial NFT concept…
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Blockstream’s Liquid Sidechain Criticized Over Long Outage — Block Signing Issue Related to Upgrade

October 6, 2021

On Tuesday, cryptocurrency supporters on social media and forums discussed Blockstream’s Liquid sidechain product as block signing had been down for over 20 hours. While Blockstream had noted the sidechain was undergoing a hard fork upgrade planned for October 5, a number of crypto proponents still scorned the project for being hypocritical toward blockchains like…
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