Courts aren't robots and people are judged by other people. Nobody will go to jail for holding a file with all possible files in it. But using that file with a specific substring index to extract something illicit, with intent, will almost certainly not make the courts happy. IANAL.
The question at hand though, is if you don't extract the illicit thing [from the Blockchain] is possession of the Blockchain enough.
FWIW I think possession has to be the measure used for child pornography and similar content, at present. But what is meant precisely by possession may need some interpretation (does one "possess" a file if one has the magnet link?) and may evolve in the future if such Blockchain attacks become of interest to the legislature.
Yes, the index, which would itself be the encoding of the file. It's just Huffman coding optimising for the ratio between a circle's circumference and its diameter.
Sure, those numbers could have come about some other way, but they didn't.
Your hypothetical decoder is actually going to contain a very large amount of very specific data as well, so much so that the 'circle' part of it is more or less irrelevant. You've just defined a (very poor) data encoding scheme.
How about if you have it but never used it, so you have the index but never expanded Pi that far, or doing the expansion would take longer than the age of the Universe, say?
So, how about if you never viewed the 'file' from the Blockchain, aren't we creeping gradually towards saying that would be fine too. Of course the law has elements necessary for practical enforcement too which we generally ignore when waxing philosophical.
Personally I believe the law is long overdue for refactoring but that it would be a twofold nightmare to first actually do it and second getting it approved through the mechanisms of legislation.
If I present the idea "circle", then hypothetically all (!!) you need is a decoder (substring location within π, and video processor) and you've got every illegal image ever made compiled into a handy video stream.
So logically (and I'm fully aware law isn't logic [and probably shouldn't be?]) there seems like you would need something else other than just possession of a number to make that possession illegal. (I'm not arguing that's the current law in any country, fwiw).
tl;dr -- at some point it is just a concatenation of bits.