Robert Dickinson [ARCHIVE] on Nostr: 📅 Original date posted:2023-01-28 🗒️ Summary of this message: There is no way ...
📅 Original date posted:2023-01-28
🗒️ Summary of this message: There is no way to prevent people from storing arbitrary data in Bitcoin witnesses without incentivizing worse behavior, potentially harming legitimate use cases. Educating people on the moral implications may be a solution.
📝 Original message:On Fri, Jan 27, 2023 at 10:21 AM Andrew Poelstra
<apoelstra at wpsoftware.net> wrote:
8<
> Unfortunately, as near as I can tell there is no sensible way to prevent
> people from storing arbitrary data in witnesses without incentivizing
> even worse behavior and/or breaking legitimate use cases.
8<
> There's a reasonable argument that this sort of data is toxic to the
> network, since even though "the market is willing to bear" the price of
> scares blockspace, if people were storing NFTs and other crap on the
> chain, then the Bitcoin fee market would become entangled with random
> pump&dump markets, undermining legitimate use cases and potentially
> preventing new technology like LN from gaining a strong foothold. But
> from a technical point of view, I don't see any principled way to stop
> this.
>
>
>
> --
> Andrew Poelstra
> Director of Research, Blockstream
> Email: apoelstra at wpsoftware.net
> Web: https://www.wpsoftware.net/andrew
>
> The sun is always shining in space
> -Justin Lewis-Webster
>
Thank you for your reply and explanations. If it be so, then I think
the principled route would be to make it a priority to continuously
educate people on the morals of the matter. Rather than for fads and
scams, the world would be a better place if ordinal inscriptions were
used for enduring, practical, and universally beneficial purposes,
such as for domain name inscription to solve the DNS centralization
problem.
🗒️ Summary of this message: There is no way to prevent people from storing arbitrary data in Bitcoin witnesses without incentivizing worse behavior, potentially harming legitimate use cases. Educating people on the moral implications may be a solution.
📝 Original message:On Fri, Jan 27, 2023 at 10:21 AM Andrew Poelstra
<apoelstra at wpsoftware.net> wrote:
8<
> Unfortunately, as near as I can tell there is no sensible way to prevent
> people from storing arbitrary data in witnesses without incentivizing
> even worse behavior and/or breaking legitimate use cases.
8<
> There's a reasonable argument that this sort of data is toxic to the
> network, since even though "the market is willing to bear" the price of
> scares blockspace, if people were storing NFTs and other crap on the
> chain, then the Bitcoin fee market would become entangled with random
> pump&dump markets, undermining legitimate use cases and potentially
> preventing new technology like LN from gaining a strong foothold. But
> from a technical point of view, I don't see any principled way to stop
> this.
>
>
>
> --
> Andrew Poelstra
> Director of Research, Blockstream
> Email: apoelstra at wpsoftware.net
> Web: https://www.wpsoftware.net/andrew
>
> The sun is always shining in space
> -Justin Lewis-Webster
>
Thank you for your reply and explanations. If it be so, then I think
the principled route would be to make it a priority to continuously
educate people on the morals of the matter. Rather than for fads and
scams, the world would be a better place if ordinal inscriptions were
used for enduring, practical, and universally beneficial purposes,
such as for domain name inscription to solve the DNS centralization
problem.