Most of us are well aware the blockchain can be used for virtually anything, and not all of those purposes have to be technological or financial in nature. Transfer of ownership of both tangible and virtual goods is one option, but BTCChina has come up with something else that might pique your interest. Have you ever wanted to imprint a message in the Bitcoin blockchain?
Bitcoin Blockchain – Versatile Tool For All Kinds of Purposes
The main “selling point” of the Bitcoin blockchain these days is the fact this open ledger gives us a real-time overview of each and every transaction taking place on the network. And while this is very useful – and fun to watch – it is just one of millions of possibilities and implementations that await us in the next few decennia.
Other areas that are being actively looked at – at this point are smart contracts and transfer of ownership. It goes without saying that, rather than using paper format to settle sensitive issues such as ownership or contracts, a digital format visible for everyone in the world to see is far superior, and frankly, better for all parties involved.
But there are so many other options we still have to explore. When transactions messages were introduced into the world, people were excited about the idea of sending notes to each other. And in terms of bookkeeping – if you operate a Bitcoin business – those little messages can make life a whole lot easier for you.
That being said, there is something peculiar about having a way to engrave a message into a place or system that will be around for a very, very long time to come. As such, China’s leading Bitcoin exchange platform BTC China has come up with a way to let customers do exactly that – engrave a message in the blockchain. And it is not that expensive to do either.
Engraving A Message In The History Books of Bitcoin
If you feel the need to engrave a message in the Bitcoin blockchain, you can now do so for the price of 0.1 BTC [roughly US$23 at the time of publication]. In exchange for that small fee, your message can be up to 60 characters long [in most languages] or up to 20 letters [for a few specific languages]. In doing so, your message will become a permanent part of Bitcoin history.
Bitcoin enthusiasts may remember that Satoshi Nakamoto engraved an excerpt of the Financial Times on the Bitcoin blockchain many years ago. In order to do so, Satoshi Nakamoto used the “coinbase” feature – which has nothing to do with the Bitcoin exchange and wallet service provider – which is the content of the ‘input” of a generation transaction.
BTC China CEO Bobby Lee told the media that:
“We wanted to introduce this novel aspect of the bitcoin blockchain in a fun and non-technical way, so that everyone can memorialize their thoughts, make a wish, or even send a message into the future, to their great-great-grandchildren. Most people don’t have the knowledge or resources to write into the blockchain directly, so we feel this is a great way to engage the community, to commemorate our anniversary, and to show our commitment to bitcoin.”
During the first 30 days of this feature being made publicly available, the price for engraving a message on the Bitcoin blockchain will remain fairly low. However, once that period has passed, prices may go up. There are a limited number of slots available every day, so make sure to reserve your message slot as soon as possible.
Source: BTCChina Forever
Images courtesy of BTC China & Bobby Lee