Bitcoin == sats in UTXOs
Digital permanency == encoded bytes in UTXOs
For bitcoin it’s early days, but it’s even earlier for digital permanency. As utility of encoded bytes rises, spam will be priced out.
Discussion
Can you practically price out the esoteric or scams?
I think so. I would make two bets about where we’ll be in 10 years and am trying to figure out the implications:
- Block space will be massively more valuable than today, as tools built around digital permanence become more prevalent. Almost all monetary transactions will be fully ‘packed / joined’ with many inputs and outputs, which spam transactions of today don’t need to compete with.
- Mining will be massively more decentralized than today making it harder/more costly to route around nodes.
I dont think the second one matters so much as it relates to spam, as we only need a small minority of nodes to propagate transactions based on likelihood of mining vs a qualitative assessment of what’s inside, in order for it to be mined.