poor analogy, but let's explore it anyway... let's say my intent is to send 1000 bitcoin to an heir (i fucking wish). as part of that transaction, I want to embed arbitrary data which states my final will and testament, and confirms that the recipient of that bitcoin is the rightful owner as validated by my embedded will.
is that a monetary transaction?
Replies (3)
Yes.
The arbitrary data is not part of the transaction. The fact that the recipient can unlock the address means they are the owner not some arbitrary statement to be interpreted later.
The transaction can be made without the data so why include it? The private key + spending condition is the only thing that matters.
Well, it could be clasified as a gift. I suppose it would be a monetary transaction. What's the issue? I think the limit is a value of $19,000 for 2025 before taxes come into play.
That taxation would be on the giver of the gifts.
