User Spends $64,000 in Fees to Encode 9 Megabytes of Data on Bitcoin Blockchain

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An unidentified Bitcoin (BTC) consumer has invested roughly $64,000 in charges to inscribe practically 9 megabytes of uncooked binary information on the Bitcoin blockchain. 

In line with a publish on X (previously Twitter) from the Ordinals explorer on January 7, greater than 1 Bitcoin was utilized to create 332 inscriptions at round 11:20 am UTC on January 6. 

These inscriptions encompass uncooked binary information, however the content material and goal of the info stay a thriller. 

Regardless of makes an attempt to decode it utilizing OpenAI’s ChatGPT, no conclusive solutions have been discovered.

Leonidas, host of The Ordinal Present, commented on the scenario, stating that some people speculate that the info could also be encrypted, making it extraordinarily tough and even not possible to decrypt.

Along with the enigmatic nature of the info, the identification of the person behind the inscription can be unknown. 

The Bitcoin deal with related to the mysterious spree of inscriptions, “bc1pnp…zwd0th,” is just labeled “Unnamed” on

The encrypted information features a vary of symbols from numerous languages, together with English, Greek, and mathematical symbols. 

Curiously, two of the 332 inscriptions function a digital picture of a pepperoni pizza. defined that this signifies the inclusion of “sats” from the ten,000 BTC used to buy two Papa John’s pepperoni pizzas from Early Bitcoin contributor Laszlo Hanyecz on Might 22, 2010.

The current inscription thriller follows intently on the heels of one other intriguing Bitcoin transaction. 

Bitcoin’s First Pockets Involves Dwell

On January 5, an astonishing 26.9 BTC, valued at $1.17 million, was sent to Bitcoin’s Genesis wallet—the very first Bitcoin pockets ever created. This occasion generated numerous theories from trade specialists.

The transaction price hooked up to it was $100, which is notably increased than the common transaction price. 

The pockets’s preliminary funding might be traced again to a few wallets, with a lot of the funds originating from a pockets related to Binance on the blockchain analytics platform Arkham Intelligence.

Conor Grogan, a director at Coinbase, speculated whether or not Satoshi Nakamoto, the nameless creator of Bitcoin, had “awakened” and transferred the Bitcoin from Binance, or if somebody had merely “burned 1,000,000 {dollars}.” 

Professional-XRP lawyer Jeremy Hogan raised the likelihood that the transaction was an try and flush out Nakamoto, doubtlessly forcing them to report the funds to the U.S. Inner Income Service or face authorized penalties. 

Nonetheless, it’s price noting that this principle would solely maintain if Nakamoto have been topic to U.S. tax legal guidelines.

Bitcoin Blockchain Units New File

Gross sales of NFTs on the Bitcoin community reached a brand new milestone in December 2023, surpassing $881 million for the primary time ever. 

In line with information by CryptoSlam, NFT gross sales on the Bitcoin chain reached $881,223,753.92 final month, setting the very best single-month gross sales document up to now.

This included 111,713 purchaser addresses and 98,744 vendor addresses, each setting the very best single-month information up to now. 

Bitcoin NFTs, often known as Ordinals, are a brand new kind of NFT that exists on the Bitcoin blockchain. 

In contrast to conventional NFTs that are largely related to the Ethereum blockchain, Bitcoin NFTs are distinctive in that they’re inscribed instantly onto particular person satoshis, the smallest unit of a bitcoin.

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