linux permission conflicts

I'd like to ask you something that's bothering me for the last couple of days.On my system I keep a folder called myscripts under my usual home folder.

What I tried to do is

chmod 500 myscripts

and pressed enter. After that I did

ls -l ~ 

to confirm and I got

dr-x------  2 Konos5 people    2048 Jun 21 22:51 myscripts

From what I understand I now should not be able to write anything within the myscripts folder. However if I type

touch ~/myscripts/hello.txt

the file hello.txt is normally created. How is that happening and what happened to the "no write" permission bit?

And one last thing. Before I change the permissions of that folder I had already kept the infamous youtube-dl script with -rwx- permissions. If I now run the script it will automatically download a youtube video and write it on my disk (within myscripts folder). Again, how is that possible since the folder's permissions are -rx- only?

Thank you in advance