Arguably an orphaned block (the terminology here is confusing, orphaned tx is actually something else) is even worse if you're the receiver of it -- you've presumably delivered goods and your money just went away, like a quarter on a string. If you're the spender...it came back. I'd say these are even worse than a shitcoin in any case. That said the likelihood of these is incredibly low with the unpopularity of 110, as it really only would happen in the event of a heavier legacy chain being overtaken by 110 blocks, collapsing the split chain to a single chain again. They also should head back into the mempool to be remined, but it could leave you risking an RBF scenario when the original sender just directs the no longer confirmed tx back to their own wallet.

And didn't realize Eric used that term. Makes sense then. Though I'd question why he does too -- if I'm sending money to my son via my node it's economic as there is action but it's a little odd to think of it as either of us being a merchant. Guess I'll have to ask him sometime if there's a deeper reason.

Also LOL at the pronunciation of 'Bagehot' Mark said. It's Badge-ett, one of the most famous central bankers ever, known for his formula for addressing a banking crisis: lend freely at high rates against good collateral.