Someone just sent 26 BTC to genesis block address - page 3.

Rikafip

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Quote from: paid2 on January 05, 2024, 06:23:31 PM

So... People are still burning BTC, that's nice
Or was it a $1 150 455 mistake? Cheesy

Or maybe Satoshi decided to buy more bitcoins as he know that bull run is near. Cheesy

Joke aside, I seriously doubts that's a mistake and whoever did it probably has an ulterior motive for doing it, rather than just burning 26 BTC.

bayu7adi

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Quote from: God bless u on January 06, 2024, 05:57:32 AM

It is most likely a mistake. I don't think anyone would deliberately burn that much Bitcoin. (normal persons wouldn't burn any amount) now question is how could someone does such a huge mistake.

they were aware and intentionally did it..... if that amount meant a lot to someone, they should have at least double-checked the destination address. In this context, I think maybe he donated 1 million dollars because they might have won a jackpot of 42 million dollars. No one knows the reason behind it and where the money came from, so once the transaction is confirmed, it means the transaction is legitimate.

Don't worry... someone reducing the supply and circulation of Bitcoin will benefit you as a BTC hodler. It's a bit fairer in general.

OpaMunze

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Quote from: franky1 on January 05, 2024, 10:35:18 PM

Quote from: gmaxwell on January 05, 2024, 10:13:24 PM

This could possibly have some connection to my involuntary hobby-horse.

what if i told you ayres knows CSW is not satoshi

I still dont get why Ayre would play along with all of this... the only end game I see is Ayre holding BSV hostage and nChain and its 'patents' leaving Creag bankrupt (he already says he owns no assets)

m2017

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Quote from: paid2 on January 05, 2024, 06:23:31 PM

So... People are still burning BTC, that's nice
Or was it a $1 150 455 mistake? Cheesy

Quote from: satoshi

“Lost coins only make everyone else’s coins worth slightly more. Think of it as a donation to everyone.”

26BTC is not 260,000BTC. Considering the total limit of bitcoin is 21 mln., then these 26 BTC are a drop in the ocean. Yes, this will make the coins remaining in circulation slightly more valuable (a couple of bucks?), but the impact will be almost unnoticeable.

26 BTC is a lot of money for one user, but completely insignificant for the entire BTC-system.

Quote from: EFS on January 05, 2024, 06:29:02 PM

It's very likely that it was an erroneous transaction.

Write the erroneous address, erroneously click the “send transaction” button, erroneously click “yes” to the question “do you really want to send 26 BTC to the genesis block address?”?

Is it too much of a erroneously erroneous?

DaCryptoRaccoon

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Is there a possibility that market makers (MMs) are manipulating the Bitcoin SV (BSV)/Bitcoin (BTC) pairs on the OKX exchange? It appears unusual that the BSV/BTC pair on OKX is experiencing movements that result in selling pressure. Could it be that MMs are extracting BTC from these transactions and then 'burning' it?

My hypothesis is that this activity originates from within the exchange. The pattern seems to be: the market is artificially pumped, which excites MMs. These MMs then add BTC to their trading pairs. Subsequently, the manipulators withdraw the BTC from these market makers and deliberately decrease the price. Intriguingly, this BTC doesn't seem to re-enter the market. Instead, it might be destroyed or used for other purposes, such as spamming the network with low-value transactions, referred to as 'shitpegs.'

I think there is more to this than meets the eye.

FatFork

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Quote from: franky1 on January 05, 2024, 10:35:18 PM

Quote from: gmaxwell on January 05, 2024, 10:13:24 PM

This could possibly have some connection to my involuntary hobby-horse.

what if i told you ayres knows CSW is not satoshi, but wants to keep the rouse alive because he had invested so much into CSW in earlier years

I kind of like the sound of that... Ayre wasting his own money to indirectly make our stash a little more valuable. Cheesy

hosseinimr93

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Quote from: paid2 on January 06, 2024, 07:48:03 AM

Mempool.space does not show transactions pre-2013 IIRC

They have the entire blockchain and show all transactions.

Here is the the transaction generating 50 BTC in genesis block on mempool.space.
4a5e1e4baab89f3a32518a88c31bc87f618f76673e2cc77ab2127b7afdeda33b

As you can see in the above link, the transaction is P2PK and the 50 BTC has been paid to the public key.
As I said in my previous post, mempool.space doesn't show P2PK transactions in history of addresses.

paid2

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~~Mempool.space does not show pre-2013 transactions IIRC~~

edit: Thank you hoessinimr93! After posting this message I went on mempool.space and saw I was wrong. I only use mempool.space for quick balance checking/pending transactions, as i use my node, and I don't know why I was thinking this 2013 stuff, maybe bad memory / brain fart Roll Eyes

hosseinimr93

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Quote from: fillippone on January 06, 2024, 05:43:28 AM

If this is the "genesis block address", why I don't see the coinbase? I would have expected to se at least 50 BTC on that address, but I can see barely 50, after this 26 BTC sent.

Mempool.space doesn't show the 50 BTC generated in genesis block as the balance of 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa and there can be two reasons for that.

The 50 BTC generated in genesis block is not spendable.
The 50 BTC was paid to the public key associated with that address, not the address itself.

There are explorers that show that 50 BTC in transaction history of that address. A good example is blockchair.com.

Blockchair.com and many other explorers display P2PK transactions in the history of the address derived from the public key, but mempool.space doesn't do that.

hyudien

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Quote from: alani123 on January 05, 2024, 07:53:26 PM

Seems like the funds came from an address that is very involved with ordinals:
https://ordiscan.com/address/bc1qlccksaaehjkdv4tgf032pvx8n76uhazqt4rgy70y4drmqwh5espqwx89f9

Based on the source, the screenshot from @Eljaboom on the X platform was made from the Binance exchange address

https://twitter.com/Eljaboom/status/1743505392787730899

Maybe this is a good sign that this year will be a historic year. It is possible that I am sure that by sending such a large amount the person wants to give us a message. It's just that this is my personal assumption but in essence I'm quite optimistic ± 27 BTC with the current price range we could relate it to the price of the upcoming Bitcoin Halving, for example $100K more.

so98nn

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Oh G man, and here we are working around the clock to make some decent money with hard work and feed the family. Look at this guy, making fun of us and saying us poor in 999 different languages. Isn't it? If they want to donate or burn Bitcoin then why peeps dont send it to others? Maybe bless friends or family or just donate the money to charity or maybe give it to random peeps. But why the hell go and burn the Bitcoins out of hate. If this was a mistake then I am pretty sure they were drunk asf. Lolz. But who just randomly go to their wallets and send away millions to genesis address, isn't thats little spammy?

cryptoaddictchie

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Quote from: alani123 on January 05, 2024, 07:53:26 PM

Seems like the funds came from an address that is very involved with ordinals:
https://ordiscan.com/address/bc1qlccksaaehjkdv4tgf032pvx8n76uhazqt4rgy70y4drmqwh5espqwx89f9

Well if this is true then anythings possible. Those ordinal guys or developers are really have ablot of funds to make this scheme and probabll will do another hype thing around that 26 bitcoin sent. Somehow I began to think that they are sending a message about what they did. Pretty sure its not an error as the guy sent from Binance is probably aware of what he is doing. He targeted Satoshi Address for a reason.

God bless u

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Quote from: paid2 on January 05, 2024, 06:23:31 PM

https://mempool.space/tx/d7db4f96a4059c8906b953677ce533493d7b9da0f854a21b99f5772910dd0a31

So... People are still burning BTC, that's nice
Or was it a $1 150 455 mistake? Cheesy

Quote from: satoshi

“Lost coins only make everyone else’s coins worth slightly more. Think of it as a donation to everyone.”

It is most likely a mistake. I don't think anyone would deliberately burn that much Bitcoin. (normal persons wouldn't burn any amount) now question is how could someone does such a huge mistake.

Quote from: PX-Z on January 05, 2024, 06:48:36 PM

I feel like this is a wallet error for whatever he uses. Just like on past issue on ETH wallets or smart contracts (forgot what wallet it is) that automatically sends ETH to burn address if the user forgot to put a wallet address on the address box.
Because there's no one in his right mind to send such amount, it's not even a donation for a charity cause but just dump his money forever. Lol.

Bitcoin wallets don't run on smart contracts like ethereum. so I don't think it can be a wallet error.
I can think of some kind of clip board maleware. where you copy your address but it'll change to another one when you paste it. hackers use this method to steal people money.

fillippone

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Just a silly question.
If this is the "genesis block address", why I don't see the coinbase? I would have expected to se at least 50 BTC on that address, but I can see barely 50, after this 26 BTC sent.
And On the Genesis block, I can't see this transaction... Is this because it's the same private key, but a different public key format? Public key/ compressed public key difference?

BlackHatCoiner

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Could it be some sort of Ordinal rarity nonsense? Like issuing Ordinals which fund Satoshi, and have a leaderboard with high scores, I don't know. Honestly, sending 26 bitcoin to Satoshi seems too stupid to have happened deliberately.

Quote from: Darker45 on January 05, 2024, 07:19:51 PM

Burning Bitcoin? For what purpose?

Technically, it is not burned. Satoshi (or whoever owns the address) can spend that output.

ultrloa

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Quote from: 0t3p0t on January 06, 2024, 04:33:31 AM

Quote from: EFS on January 05, 2024, 06:29:02 PM

I remember earlier times of the forum when some Bitcoin haters do that. They thought they can kill Bitcoin by burning coins. Grin

Burning Bitcoin wasn't very costly back then, given the prices of the time. However, it's not wise to make this move now. It's very likely that it was an erroneous transaction.

If Bitcoin haters still has plans to do this right now I think they are just killing themselves and just making value to every Bitcoin hodlers wallet. 😅 Good backfire actually.

Maybe that was just a birthday gift from someone for reaching another level of survival of Bitcoin. That gift benefits us all who hodl Bitcoin.

They need a lot of money to do that and if they just throw that money then they are only hurting their selves financially since no people would buy what they are doing. IF they could just sell that on exchange and cash out for sure there's a lot things to use that. But if they really intentionally do that then they must be totally crazy for thinking that they can influence people for doing the same action just what they did.

But anyways I'm still doubting if the owner do that intentionally and I maybe believe that that is mistakenly sent since no insane people will burn his $1m" worth of money just because they don't like to have it.

pakhitheboss

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26BTC is big amount in todays scenario where the value of 1BTC is above 40k USD. The transaction does not look like it was sent to the Genesis block in error. It looks to me that it was sent deliberately, the person who did this transaction I am assuming would be someone who will have a large stash of Bitcoin. Most probably an early adopter who might have done this transaction. But, why would someone do it that is the question in my mind.

Edit: I found out that someone purchased those 26BTC from Binance before transferring them to the address. Is this real or a fake news?

gunhell16

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Quote from: paid2 on January 05, 2024, 06:23:31 PM

https://mempool.space/tx/d7db4f96a4059c8906b953677ce533493d7b9da0f854a21b99f5772910dd0a31

So... People are still burning BTC, that's nice
Or was it a $1 150 455 mistake? Cheesy

Quote from: satoshi

“Lost coins only make everyone else’s coins worth slightly more. Think of it as a donation to everyone.”

In terms of value, it can be considered really big, but no one knows whose owner this address belongs to. Now if the 26.9 btc was released, I can't say if the person who did it just burned bitcoin. But if I were the owner of Bitcoin for that amount personally, I would not do such a transaction.

Also, even if they sold like that, it doesn't seem like the price value of Bitcoin was affected much. It also recovered immediately.
Though, it can still be considered as huge amount of Bitcoin.

0t3p0t

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Quote from: EFS on January 05, 2024, 06:29:02 PM

I remember earlier times of the forum when some Bitcoin haters do that. They thought they can kill Bitcoin by burning coins. Grin

Burning Bitcoin wasn't very costly back then, given the prices of the time. However, it's not wise to make this move now. It's very likely that it was an erroneous transaction.

If Bitcoin haters still has plans to do this right now I think they are just killing themselves and just making value to every Bitcoin hodlers wallet. 😅 Good backfire actually.

Maybe that was just a birthday gift from someone for reaching another level of survival of Bitcoin. That gift benefits us all who hodl Bitcoin.

Poker Player

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In case it is not a mistake, it is clear that the sender has much more than that. There are those who send a few satoshis to the genesis block address because for them it is nothing and there are those who have so much money that they can afford to waste 26 Bitcoin.

If it is a mistake, or a victim of malware, it would be another matter.

Topic: Someone just sent 26 BTC to genesis block address - page 3. (Read 967 times)