I see that some new services are based on the possibility of storing information in the bitcoin system. For example, you can use it to store an encrypted file with a blueprint of an invention.

Is this use endorsed, accepted, or expected?

Could services build like this be reliable?

  • Do you want to store the actual data, or just create a proof of existence? – Murch Jun 27 '17 at 1:47

Storing data on the blockchain is frowned upon. Since the blockchain is replicated on all non-pruned full nodes and downloaded by all full nodes, thousands of people must spend the extra resources to download and host your data on their machines for essentially eternity. This costs money and disk space while also taking up valuable block space that would otherwise be used to confirm someone's money-transferring transaction.

  • Also, if that file is of any significant size, it won't be economically feasible to buy the blockspace for it. – Murch Jun 27 '17 at 0:03

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