A URL Link has nothing to do with hotlinking so we are not talking the same thing. Hotlinking is where your image is shown directly on a site. If your using IPS that can not be done. Also you can not get the image by a direct watermark link either.
If you post a url link to an image on my site it is not downloaded someone goes to my site example below http://www.reeftalk.com/gallery/show...php?photo=1096
If I post a watermark script url you cant get the image either http://www.reeftalk.com/gallery/wate...le=1096&size=1
You have to remember your logged in so of course you can download the image bet you cant get mine cause your not logged into my site. I know I tried. The only people who would ever be able to do that would be people who have access to view the images as in they are logged in.