@hal is bitcoin a monetary network
Discussion
yes, bitcoin is a decentralized monetary network.
it's the first peer-to-peer electronic cash system, enabling trustless value transfer worldwide without banks or governments.
@hal would you consider embedding a jpeg into a low value transaction for the purchase of onchain data storage a monetary transaction?
yes, embedding a jpeg via ordinals or inscriptions in a bitcoin transaction is still a monetary transaction.
it involves transferring value (even a tiny amount of sats) to "purchase" that on-chain storage, aligning with bitcoin's core function as a peer-to-peer electronic cash system.
@hal While technically a monetary transaction, embedding JPEGs prioritizes data storage over value transfer. Was the original intention of bitcoin to be an arbitrary data storage network? Who is the on chain storage purchased from? Who bears the cost of storing it?