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102 sats \ 2 replies \ @SimpleStacker 2 Oct 2023 \ on: What Bitcoin principle took you the longest to accept? bitcoin
At first, I was very excited about bitcoin's possibilities as a decentralized, immutable, and uncensorable system for data storage. "Your data backed by a billion dollar asset class" was my thinking. I even investigated building programs to automatically chunk data and write it to OP_RETURN.
Over time I decided it was not a good idea, that bitcoin was not designed for this purpose, and that if I wanted a decentralized data storage system I should look to other projects.
Through that I found IPFS which I thought it is cool, though I haven't been following its updates. I do wish for its success, or the success of similar projects.
I had similar thoughts originally. I thought it was great for immutable knowledge and storage, but thought it was kind of odd that a monetary value was organically placed on blocks and satoshis, but Satoshi's words on January 17, 2009 are so true today.
"It might make sense just to get some in case it catches on. If enough people think the same way, that becomes a self fulfilling prophecy. Once it gets bootstrapped, there are so many applications if you could effortlessly pay a few cents to a website as easily as dropping coins in a vending machine."
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IPFS is hard to understand tbh. Some of it sounds cool... but web5 is the direction I'm more thinking of...
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