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30 sats \ 4 replies \ @arataa 7h \ on: Gold was used for persistent data storage too bitcoin
Sorry for my ignorance, but is this a new debate? Or is this just a continuation of the op_return drama, on which was just a script made in response to certain exploiters that were inserting specific unwanted arbitrary data, as Bitcoin essentially has a binary architecture (01011), and thus these individuals managed to exploit that issue. If I'm mistaken, please correct me.
Well, besides my previous question, I must say that I disagree with your comparison.
Gold is a physical material and thus, it has many different applications. The sole purpose of money is to be a highly salable intermediary good to solve the problem of batter, and prove that you have generated value in order to exchange in a society. Thus, the ideal money should just be money and nothing else, according to what I have read.
Or maybe I could be wrong about the concept of data that you be referring to.
It is part of the
op_return drama, but maybe just a new perspective on it.The sole purpose of money is to be a highly salable intermediary good to solve the problem of batter, and prove that you have generated value in order to exchange in a society. Thus, the ideal money should just be money and nothing else, according to what I have read.
I think the insight I am coming to is that maybe anything that is good money might necessarily be good data storage as well... especially the characteristics of verifiability and persistence
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Ah, I see now. Hm, it would be interesting to study other successful moneys in history to find more about that correlation. Well, there's nothing better than starting out with the Rai Stones lol.
Would you like to get any updates if I find some data related to your correlation with a possible consequent utility of money?
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sure, that'd be great
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You sound like the people who think proof of work should do useful work. The work has to be useless, and the data has to be exclusively monetary.
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