BitcoinIsFuture's avatar
BitcoinIsFuture 2 months ago
I know that, that is why I am trying to argue with you to have in your analysis the consideration that spam has 0 value. And even if someone is paying for it, it does not make it valuable, it makes it a scam. Thats what they are after. Jpegs are spam on the Bitcoin monetary network. See also what Nick Szabo is writing about the cost inferred on all node runners, not only the one that pays for a particular transaction. The big picture goes beyond the physics of the system. These are the inscriptions. image This is the Bitcoin Monetary Network. They are not the same. image

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Selling a JPEG is a scam because nothing is actually owned. On Bitcoin, there are only UTXOs and the satoshis appended to them, the rest is illusion. A JPEG once hashed into the chain is owned by the ledger itself, by conservation, by every validating node. An inscription, however, can still have meaning even if its content has no monetary resale value. Again, writing an obituary into the op_return field is not a scam if the purpose is permanence. The service being sold is not ownership of data, but the guarantee that it will never be forgotten, memory preserved through energy expenditure. What most call a “non-monetary” transaction still carries thermodynamic cost. If satoshis are spent to commit bits to the ledger, then value exists by definition, because the value is conservation itself. The real disagreement is not about the content of transactions, but about who decides what deserves to be conserved, what humanity considers worthy of permanence in the only ledger that remembers forever.