Someone paid 1.7 BTC to shitpost on the Bitcoin Blockchain

in bitcoin •  9 months ago 

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What goes on the blockchain, stays on the blockchain.

In the case of the Bitcoin Blockchain, this will stay FOREVER on the blockchain.

And someone just pulled the ultimate stunt to shitpost on it, spending 1.7 BTC - $122,544 USD at the time of the block, for that.

This is impressive, because not only its a good shitpost, its an amazing demonstration in blockchain programming skills by the perpetrator to pull this off.

Firstly, to know how bitcoin transaction works, check out this super basic introduction https://99bitcoins.com/bitcoin/fees//

And now the amazing part;

This stunt made use of the way mempool.space visualizes bitcoin transactions in a block. Every pixel you see is actually a bitcoin transaction.

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And the entire block is jsut made up of 3 duplicated transaction, arranged in a way that makes a pattern from the way mempool.space visualizes it.

Every Red pixel is $149.46 paid, Every orange pixel is $11.21, and the Green is $0.08. Whoever made this paid $122,544 to mine a whole block of no real bitcoin transaction.

Basically this is like when someone bought up an entire cinema hall for a every-showing-sold-out movie and let the movie run in a paid but empty hall.

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Heres the cinema hall analogy made more clearer: before the stunt was pulled, the block was expected to be filled with actual transactions (bigger blocks mean bigger BTC transactions).
But instead all these transactions have to wait another 10 minute on top of all the other transactions waiting in the mempool for a block full of 0 btc transactions.

You can see the block itself at https://mempool.space/block/000000000000000000000e649b31bc87402ecc0a3e16c8d9e0e156ee8599bb30

What do you guys think?

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