It's okay if you don't understand bitcoin yet, I just hope you don't need to become an unintentional scammer to get there.

Reply to this note

Please Login to reply.

Discussion

Also what you're describing is 'ordinal theory', a (dumb);system of numbering each sat that mostly lends itself to scams.

This is absolutely not describing Ordinal Theory, it works exactly the same as how a bitcoin UTXO works where every UTXO still has a branchable value, except this will limit to a single input UTXO.

A single UTXO cannot be collected since it is spent by the signer and new UTXOs are generated as output.

I am suggesting that people may have an interest in holding onto a UTXO that has a short ancestry. Which is not necessarily due to just novelty, but also since it requires less storage to hold the fewer ancestors and less effort by a validator to validate the shorter history.

Iirc you can pass UTXOs around with coinswaps, essentially trade private keys.