knutsvanholm on Nostr: The #Bitcoin timechain is an open, public ledger that anyone can view at any time. ...
The #Bitcoin timechain is an open, public ledger that anyone can view at any time. All the data in it can be copied infinitely. No one "owns" the data.
What bitcoiners "own" are private keys, which allow them to move around certain data within the network, namely Satoshis.
This makes Satoshis something more than mere data. Satoshis are a representation of the extent to which a single bitcoiner is allowed (by all other network participants) to alter the network.
All other arbitrary data on the timechain is public and infinitely copiable. No one owns it, and no one ever will.
Buying an "ordinal," or any other data attached to a transaction, is like buying a star in the Andromeda Galaxy. It's there, sure. But it's not "yours" in any practical sense.
What bitcoiners "own" are private keys, which allow them to move around certain data within the network, namely Satoshis.
This makes Satoshis something more than mere data. Satoshis are a representation of the extent to which a single bitcoiner is allowed (by all other network participants) to alter the network.
All other arbitrary data on the timechain is public and infinitely copiable. No one owns it, and no one ever will.
Buying an "ordinal," or any other data attached to a transaction, is like buying a star in the Andromeda Galaxy. It's there, sure. But it's not "yours" in any practical sense.