Are Bitcoin IDs on the Blockchain Just Spam?

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calmshardMember
Posts: 5 · Reputation: 85
#1Mar 28, 2023, 03:49 AM
So there's this new ID system for Bitcoin where there are no tokens involved and you can win names through auctions. The catch is that the winning bid means burning all those bitcoins, which is supposed to eliminate any conflict of interest. What do you all think? Is this just spam or something worth backing?
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hash_bossLegendary
Posts: 1166 · Reputation: 5261
#2Mar 28, 2023, 09:25 AM
Another decentralized ID protocol? MicroStrategy[1], Stacks[2], Identity foundation[3] and many others already do that. It's not something i will support. [1] https://microstrategy.github.io/did-btc-spec/ [2] https://docs.stacks.co/concepts/network-fundamentals/bitcoin-name-system [3] https://identity.foundation/ion/
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LuckyCoinLegendary
Posts: 832 · Reputation: 4795
#3Mar 28, 2023, 12:07 PM
Not really, as these transfers barely cost any data. They are not like those nonsense JPEGs that were being spammed onto the blockchain two years ago. I was going to run a daemon and claim some OG identifiers, but then I realized that it would be too much work for me to maintain those handles (unless I just squat on them and auction them away 5 years later or something), as there's other things I've got to do.
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paul2017Senior Member
Posts: 218 · Reputation: 1426
#4Mar 28, 2023, 05:23 PM
Why pay for an identifier? Any public key or bitcoin address can be used as an identifier. And only 3600 available per year seems ridiculously limited.
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