Quote from: vjudeu on Today at 07:01:56 AM

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That means to store a home video would cost 1 million dollars on the bitcoin blockchain. I wonder if satoshi ever imagined that!

Quote from: satoshi on June 18, 2010, 04:17:14 PM

Quote from: gavinandresen on June 17, 2010, 07:58:14 PM

I admire the flexibility of the scripts-in-a-transaction scheme, but my evil little mind immediately starts to think of ways I might abuse it. I could encode all sorts of interesting information in the TxOut script, and if non-hacked clients validated-and-then-ignored those transactions it would be a useful covert broadcast communication channel.

That's a cool feature until it gets popular and somebody decides it would be fun to flood the payment network with millions of transactions to transfer the latest Lady Gaga video to all their friends...

That's one of the reasons for transaction fees. There are other things we can do if necessary.

As you can see, people thought about that many years ago. And transaction fees were introduced to protect the network from spam. Satoshi's reply wasn't: "yes, you can upload videos to the blockchain", but rather "fees are needed to discourage people from doing that".

I guess Satoshi wasn't a fan of lady gaga. that's the takeaway Grin

shame he doesn't come around here anymore. i wonder what "other things" he had up his sleeve to deal with lady gaga fanboys and girls.