Nostr

Replying to

Jose Sammut

Miners don't need to hold Bitcoin, so I don't think this slide is correct.

Eg. people hold gold for artistic purposeses, but they don't buy Bitcoin to do mining.

Reed 1y ago

Yeah I think the value of blockspace is the primary non-monetary use case, the others were kind of a stretch.

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Discussion

Jose Sammut 1y ago

How does that result in a monetary premium? Ordinals?

Reed 1y ago

It's supposed to represent a non-monetary use case. And yes, ordinals is one use of blockspace, but there are other things that people are willing to pay to put in the Bitcoin Blockchain too.

Jose Sammut 1y ago

True. But how does that reduly in a monetary premium? It doesn't change the price of Bitcoin. Do you disagree?