NFT-like bitcoin inscriptions have become a hot topic in a long-running debate among Bitcoiners: How much non-financial transaction data should the Bitcoin community want to include on its blockchain?

The debate is old enough to trace back to Satoshi Nakamoto. Indeed, in a 2009 proposal to decentralize domain names, Satoshi came down on the side of using alternative data storage instead of Bitcoin’s ledger. Satoshi reasoned that users should not have to download data from other applications (like BitDNS) to use Bitcoin’s network for its primary utility: peer-to-peer digital cash.

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