Replying to Avatar Alexander Hoff ❍

well but it‘s still unusable funds and „worthless“ tx in a monetary sense. how is this any different than putting a hash into op_return?
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vinney...axkl 1mo ago

why is it worthless and how is it unusable?

it pays fees to miners. this is identical to their main service: collecting fees to order things.

the person making the timestamp has the private key and can recover some of their funds (again, less the miner fee, as is proper).

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Alexander Hoff ❍ 1mo ago

ah sorry i thought the „hash“ adress is an arbitrary burner adress but i see now it‘s deterministic? that‘s pretty cool!

i built a consumer friendly tool for the same purpose using op_return: proofseal.org

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El presidente Eloy Musketti 1mo ago

It's not worthless. It costs two txs and creates tiny utxos. Hence my note about pure monetary use.

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Alexander Hoff ❍ 1mo ago

yeah i agree this is probably the closest version to "monetary use" for including hashes on-chain. earlier i did not yet understand that the derived address is actually spendable.