Discuss.
Discussion
Yes. I wondered if people had forgot this?
Itβs a distributed time stamp server, and he was using as a time stamp server. It was a message to prove creation time.
He didnβt stamp an entire image of his balls into the block.
At first I was really upset and protective. As time has moved on and I've discussed it more, my opinions have changed. I don't like it. I think it's dumb. And that's okay. I'm allowed to have my own thoughts and opinions. I can't tell someone how they're supposed to use Bitcoin. I trust that the system will work itself out given enough time. Until that happens, I'm looking at this as an orange pilling event. I'm helping NFT fans run Bitcoin nodes, Lightning nodes, and teaching them about UTXOs. It's great for Bitcoin...for now.
This is stupid and was never the intended use. Shitcoiners should move their shit jpegs to L2 or side chains.
I think there are fundamentally 2 good technical take-aways.
1. Bitcoin lacks fungibility. 1 sat != 1 sat. There is surveillance and taint and now this.
2. Bitcoin is the most permanent monument upon which to write things, even if it's meant for transactions; it is obviously desirable to put other fancy things on there, like contracts, titles, nfts, etc. if you want to truly depend upon them for real life reasons.
I believe both of these issues are addressed by Roll-ups tech, and I'm hopeful that this Ordinals stuff will push people to accept some soft-forked changes to Bitcoin to enable such a thing.
Agreed π
Another point to consider:
Satoshi Nakamoto specifically argued that BitDNS should be separated because it made no sense that people who wanted to use digital money also had to download a bunch of URL data that wasnβt relevant to the operation of the money, and vice versa.
Oh, shit!
Would the taproot soft folk have happened if this exploit was known ahead of time?
Satoshi could have easily made it a jpeg of the newspaper headline but chose not to. Let's follow that example.