# What is Blockspace Value Theory?

BVT, a living document and an untested thesis about tokens built on consumed Bitcoin blockspace.

URL: https://blockspace.wiki/answers/what-is-blockspace-value-theory/

> Theory, not fact. Blockspace Value Theory is a living document and an untested thesis. BTP and BYTES are drafts describing things that do not exist.

[Blockspace Value Theory](https://blockspace.wiki/glossary/bvt/) (version 3.0, July 2026) is a living document and an untested thesis. It proposes that tokens linked to files committed on Bitcoin, such as runes, BRC-20s and inscribed sats, form one commodity market denominated in kilobytes, with a price floor proportional to the kilobytes consumed. Its central open question is whether markets price kilobytes or fees.

Sources:

- Blockspace Value Theory · https://block.space/docs/bvt
- block.space docs: Blockspace Value Theory · https://block.space/docs/bvt

Updated: 2026-10-20