you can inscribe at any fee rate you wish, inscriptions are tied to satoshis, all of the BAYC monkey jpegs have been inscribed at a cost of over $1 million
Discussion
Im aware you can inscribe at any fee rate, but I thought the output had to be 10k sats
If you want your data to live in the utxo set you can use outputs as low as 546 sats which is the dust limit
But the data is in the witness script; not the UTXO set, right?
Ordinals put data in witness, but you have to assign some value to outputs else the transaction would be invalid. You can put data directly into the utxo set too .. Counterparty XCP has been used to do this with OP_CHECKMULTISIG since 2014, The satoshi uploader predates that and used the UTXO set in 2013
Yeah I guess Im just confused by why Casey chose 10k as the output amount ... was this arbitrarily baked I to the original client?
i do not know, I just know people have been putting arbitary data into the chain for over a decade and its impossible to prevent it
Doesn't mean they aren't reprobates.
does that include Satoshi and the coinbase transaction of the genesis block ?
LOL. Satoshi was not a speculating reprobate trying to cargo-cult his way to beanie baby mania.
Blockspace is valuable, that is for sure.
But in time, most (if not all), the jpegs stuffed therein will not be valuable. But we still have to store them, if we want sufficient distribution of archival nodes.
What is valuable is a very subjective thing. I think op_return is a good thing and i think good husbandry of the commons that is the utxo set and the blockchain a thing to be encouraged. I suspect you are correct and a lot of the perceived value of onchain jpegs will evaporate. But do we risk making things worse with a sort fork introducing new potential or do we simply let the market decide?
Letting the market decide is not always the most efficient way to eliminate grift and fraud. In fact, if the market becomes dominated by grift and fraud, it creates a lemon market, where it is impossible to distinguish legitimate product from a lemon.
This is why I consider inscriptions to be an exploit. It allows all the degenerate activity that made ethereum a magnet for a rogues gallery of frauds.
people are now embedding encoded data into counterparty token descriptions, it's not just ordinals being used to put data in the chain
78,000 satoshi in spendable outputs that will probavly never be spent .. no segwit required
https://blockstream.info/tx/8266f92c5971f3ac745fa42a58ed39f39a7cd5e4f700801642766f214362e657
It sounds like its an educational issue as and correct me if I am wrong, there is no technical solution