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From: Steve Lee <steven.j.lee@gmail.com>
Date: Sat, 1 Apr 2023 00:29:59 -0700
Message-ID: <CABu3BAcccjiw1VcQ0Wr6kPH_ANNJeBEXuTE3ERibwrS6u8X-iQ@mail.gmail.com>
To: alicexbt <alicexbt@protonmail.com>
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Cc: Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>,
 Greg Sanders <gsanders87@gmail.com>
Subject: Re: [bitcoin-dev] Bitcoin ungibility and inscribed sats
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"want bitcoin to be money and money means different things for people in
this world"

I interpreted your above statement to mean that to some people,
inscriptions/NFTs are money. That is what I was responding to.



On Fri, Mar 31, 2023 at 9:26=E2=80=AFAM alicexbt <alicexbt@protonmail.com> =
wrote:

> Hi Steve and Bitcoin Developers,
>
> I have created a new thread as requested by one of the developers. I
> respect him and the readers of this list.
>
> > "want bitcoin to be money and money means different things for people i=
n
> this world"
>
> > I think we can all agree that a property of money is fungibility, and b=
y
> its very definition NFTs are not fungible and thus not money.
>
> Inscriptions do not affect fungibility of bitcoin:
>
> - There is no token standard being used. These are just sats being
> considered as inscription in an external protocol or explorer. Bitcoin
> nodes do not consider them as something special.
> - Users can always sell those inscribed sats or UTXO as normal bitcoin on
> bisq or any exchange.
> - They can use different amounts for it using tools like
> https://raritygarden.inscribetheplanet.com/ which is created by super
> testnet who is active dev in bitcoin and ln.
> - Inscribed sats are different from Ethereum tokens because they will
> never go to zero and you can always consolidate lot of them to use as
> normal bitcoin.
>
> Bitcoin fungibility is anyways debatable and I cannot change anything
> about it even though working on a coinjoin implmentation as some post mix
> UTXOs are censored on some exchanges and its easy to identify them. Some
> coinjoin implementation themselves work with chain analysis companies to
> censor inputs used for rounds.
>
> Ordinals theory is a parallel universe in which some users believe in and
> they have been trying to learn how bitcoin works. Example: I did call wit=
h
> someone this evening to explain how PSBT and multisig works who never use=
d
> bitcoin before
>
> Developers are interested to build things and they have tried to create
> BIP, DEX, look for libraries, ask questions, projects implementing PSBT e=
tc.
>
> I do not live in first world country and do not attend bitdevs but always
> wanted bitcoin to be here. I have tried my best but failed. Please let
> people do what they want with bitcoin without changing consensus rules. I=
t
> will help Bitcoin.
>
> /dev/fd0
> floppy disk guy
>
> Sent with Proton Mail secure email.
>

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<div dir=3D"ltr"><div>&quot;want bitcoin to be money and money means differ=
ent things for people in this world&quot;<br></div><div><br></div><div>I in=
terpreted your above statement to mean that to some people, inscriptions/NF=
Ts are money. That is what I was responding to.</div><div><br></div><div><b=
r></div></div><br><div class=3D"gmail_quote"><div dir=3D"ltr" class=3D"gmai=
l_attr">On Fri, Mar 31, 2023 at 9:26=E2=80=AFAM alicexbt &lt;<a href=3D"mai=
lto:alicexbt@protonmail.com" target=3D"_blank">alicexbt@protonmail.com</a>&=
gt; wrote:<br></div><blockquote class=3D"gmail_quote" style=3D"margin:0px 0=
px 0px 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex">Hi St=
eve and Bitcoin Developers,<br>
<br>
I have created a new thread as requested by one of the developers. I respec=
t him and the readers of this list.<br>
<br>
&gt; &quot;want bitcoin to be money and money means different things for pe=
ople in<br>
this world&quot;<br>
<br>
&gt; I think we can all agree that a property of money is fungibility, and =
by<br>
its very definition NFTs are not fungible and thus not money.<br>
<br>
Inscriptions do not affect fungibility of bitcoin:<br>
<br>
- There is no token standard being used. These are just sats being consider=
ed as inscription in an external protocol or explorer. Bitcoin nodes do not=
 consider them as something special.<br>
- Users can always sell those inscribed sats or UTXO as normal bitcoin on b=
isq or any exchange.<br>
- They can use different amounts for it using tools like <a href=3D"https:/=
/raritygarden.inscribetheplanet.com/" rel=3D"noreferrer" target=3D"_blank">=
https://raritygarden.inscribetheplanet.com/</a> which is created by super t=
estnet who is active dev in bitcoin and ln.<br>
- Inscribed sats are different from Ethereum tokens because they will never=
 go to zero and you can always consolidate lot of them to use as normal bit=
coin.<br>
<br>
Bitcoin fungibility is anyways debatable and I cannot change anything about=
 it even though working on a coinjoin implmentation as some post mix UTXOs =
are censored on some exchanges and its easy to identify them. Some coinjoin=
 implementation themselves work with chain analysis companies to censor inp=
uts used for rounds.<br>
<br>
Ordinals theory is a parallel universe in which some users believe in and t=
hey have been trying to learn how bitcoin works. Example: I did call with s=
omeone this evening to explain how PSBT and multisig works who never used b=
itcoin before<br>
<br>
Developers are interested to build things and they have tried to create BIP=
, DEX, look for libraries, ask questions, projects implementing PSBT etc.<b=
r>
<br>
I do not live in first world country and do not attend bitdevs but always w=
anted bitcoin to be here. I have tried my best but failed. Please let peopl=
e do what they want with bitcoin without changing consensus rules. It will =
help Bitcoin.<br>
<br>
/dev/fd0<br>
floppy disk guy<br>
<br>
Sent with Proton Mail secure email.<br>
</blockquote></div>

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