There is significant experimentation with NFTs, demonstrati…
There is significant experimentation with NFTs, demonstrating that we are building a new type of on-chain internet.
For now, we prefer the full content to reside 100% on-chain on BSV because inscriptions costs are very low; however, should those costs rise, inscribing the content hash—along with a pointer to a reliable repository like the Overlay Network—would also be a valid approach.
The key is keeping transaction costs low even as millions of users join, and that can only be achieved through unlimited scalability.
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Under what circumstances do you think the cost will rise?
If the price of BSV rises significantly—say, X100 —the cost of inscriptions could increase if miners keep the minimum rate at 100 sats per KB.
However, economic logic suggests that this rate should decrease as mining becomes more profitable; furthermore, due to Moore's Law (and its equivalent in storage), computing technology is inherently deflationary regarding storage space and bandwidth, which would cause the minimum rate per KB to drop over time with mass adoption.
In conclusion, the cost of inscriptions might rise temporarily while these variables adjust.
https://x.com/i/status/1851603453459480804