Topic: Why would someone send 4 BTC to Satoshi (Genesis block) (Read 521 times)
I think one of the reasons could be to burn bitcoin, so it can give more value, but this is not necessary to be true because, if the majority of investors will not adopt BTC on long run, this hypothesis has no value.
Forgive my ignorance, but if the address (Satoshi's genesis address) contains the unspendable BTC, does is mean other Bitcoins that get there become unspendable as well?
No. The coinbase reward from the genesis block is non-spendable. Any other outputs coming from that address can be normally spent. If you want to "burn" some bitcoin you can generate an address, send the money there and ELIMINATE the private key that has access to it.
That won't be true burning either. First things first, nobody can assure you there won't be another fellow who'll generate the same key. Second, there are about 2^96 different keys, all of which result to the same address. If you want to burn coins, you need to remove them from the UTXO set, using OP_RETURN. Forgive my ignorance, but if the address (Satoshi's genesis address) contains the unspendable BTC, does is mean other Bitcoins that get there become unspendable as well? Of course, these coins aren't likely to ever be accessed anyway, but, assuming Satoshi is alive and didn't lose access to anything, would Satoshi even be able to use those coins? pooya87 says it's possible, which gives some hope these coins aren't just burned.
IMO, if one has such money to spare, it would be better to donate it to a good cause instead of burning. I don't think it was done by mistake, though.
IMO, if one has such money to spare, it would be better to donate it to a good cause instead of burning. I don't think it was done by mistake, though.
Well, let's clarify something. It doesn't matter if it's Satoshi or if it's me (let's say), but anyone who have the private key that unlocks the genesis block address, can spend the money found in it.
Therefore, if you decide to send BTC there, the only way to be spent, is if someone has the key to this address.
If Satoshi is a person and if Satoshi is alive and if Satoshi owns the key, then they could definetely spend the BTC you send there.
Thus, it's definetely not verified that this amount of BTC is burnt.
If you want to "burn" some bitcoin you can generate an address, send the money there and ELIMINATE the private key that has access to it.
Just wondering why someone would send 4BTC to the Genesis block which is over $75K.
Here is the transaction
https://www.blockchain.com/explorer/transactions/btc/6805b175260c47549995c3ff19c3c51596651c26269e9f1b31c243986433a0b7
I understand many want to send a small amount so they can get a piece of history on the block chain but sending over $75K which is pretty much a burn address since most likely it will never get spent is kind of crazy.
Why do you think they did this?
This is how crazy rich people spend their money on. I don't think it's an sending error given that it's the genesis block. It's how people make their own history on crypto and how they make themselves seen into articles and news. Maybe the sender wants everyone to talk about him. Like we are doing now, Speculating about why did someone send a hella amount of money to a genesis block which is basically unusable (unless satoshi use it in the future). Also there's a chance that this is a very old whale who accumulated a ton of bitcoin in it's early stage. Here is the transaction
https://www.blockchain.com/explorer/transactions/btc/6805b175260c47549995c3ff19c3c51596651c26269e9f1b31c243986433a0b7
I understand many want to send a small amount so they can get a piece of history on the block chain but sending over $75K which is pretty much a burn address since most likely it will never get spent is kind of crazy.
Why do you think they did this?
Just wondering why someone would send 4BTC to the Genesis block which is over $75K.
Here is the transaction
https://www.blockchain.com/explorer/transactions/btc/6805b175260c47549995c3ff19c3c51596651c26269e9f1b31c243986433a0b7
I understand many want to send a small amount so they can get a piece of history on the block chain but sending over $75K which is pretty much a burn address since most likely it will never get spent is kind of crazy.
Why do you think they did this?
Here is the transaction
https://www.blockchain.com/explorer/transactions/btc/6805b175260c47549995c3ff19c3c51596651c26269e9f1b31c243986433a0b7
I understand many want to send a small amount so they can get a piece of history on the block chain but sending over $75K which is pretty much a burn address since most likely it will never get spent is kind of crazy.
Why do you think they did this?
For anyone who holds above 100 btc, burning 4 btc will not give them sleepless night nor sounds crazy to them. Since it is all about getting a piece of history I guess whoever it was is already making history even right here in the forum.
People do crazy stuff all the time, this shouldn't come as a surprise.
Close, it came from this address where someone had 82BTC in April of 2022. That was 3 million USD.
https://www.blockchain.com/explorer/addresses/btc/392cd66VNBwUFpGTkKVvkSvDNoBdWyFwVw
The money then went through a series of transactions being sent from one address to another many times a day. Possibly a money laundering operation.
Why did they send some money to Satoishi? Maybe as a gesture of appreciation? Maybe to taint his coins with some of their stolen profits?
Forgive my ignorance, but if the address (Satoshi's genesis address) contains the unspendable BTC, does is mean other Bitcoins that get there become unspendable as well? Of course, these coins aren't likely to ever be accessed anyway, but, assuming Satoshi is alive and didn't lose access to anything, would Satoshi even be able to use those coins? pooya87 says it's possible, which gives some hope these coins aren't just burned.
IMO, if one has such money to spare, it would be better to donate it to a good cause instead of burning. I don't think it was done by mistake, though.
IMO, if one has such money to spare, it would be better to donate it to a good cause instead of burning. I don't think it was done by mistake, though.
Have you ever heard the phrase, "Taxation without representation." In the US, you can ask many people if they like the IRS. They will say 'No." But these same people want taxation to continue, because they believe that it is tax money that is supporting the government. And they might be right in some strange way.
Here's the point. Why not pay taxes to the person who made Bitcoin possible? Even IRS taxes are said to be 'voluntary'.
Here's the point. Why not pay taxes to the person who made Bitcoin possible? Even IRS taxes are said to be 'voluntary'.
We are here busting our ass off to find 0.66 in a puzzle challenge and they send 4BTC to a dead man, insanity has no limits.🤣
Who says Satoshi is a dead man? If you look at the historical facts, it is quite clear that he publicly announced that he was leaving, and before that he made sure that some of his associates would be the ones who would take part of the credit for everything he did.
It is not at all inexplicable to me why some people still send BTC to that address and I expressed my opinion in the previous post - after all, everyone has the right to do whatever they want with their funds. If you need a donation, maybe you can try asking for it publicly and someone will send you more than 0.66 BTC - not so long ago an unknown benefactor donated even 1 BTC to some charity projects
We are here busting our ass off to find 0.66 in a puzzle challenge and they send 4BTC to a dead man, insanity has no limits.🤣
I don't think anyone would do this to get Youtube views. Do you know how little Youtube pays people right now. Why do you think so many people are doing sponsorships in youtube videos because the ad revenue is just not too high.
Last time I checked if you got a huge big channel and you get 1,000,000 views you maybe make $2000. So unless this guy got over 50,000,000 views he would only break-even. A few years back Youtube was more profitable but now its very difficult to make any money. Seems like a waste of time these days. Way too saturated even for crypto content.
Obviously it won't be worth the income and expenses if Youtube content is the goal. I don't know what the real reason is either, but I might somewhat agree that it's some sort of tribute from the pope or whoever has most of the bitcoin in his wallet. But for whatever speculation there is, we don't really know what the reason is until the person who sent the bitcoin clarifies it.Last time I checked if you got a huge big channel and you get 1,000,000 views you maybe make $2000. So unless this guy got over 50,000,000 views he would only break-even. A few years back Youtube was more profitable but now its very difficult to make any money. Seems like a waste of time these days. Way too saturated even for crypto content.
Also, the hype about content like this wouldn't last long if those users were actually spending $75K on content alone, but I disagree with why. I tend to think it's either a reward or a mistake on the part of the user.
My guess is a crazy youtuber to get extra views. Maybe he can even recuperate the funds with the incremental views he gets 
Would be stupid but have seen worse
Would be stupid but have seen worse
I won't be surprised if this turns out to be true because most times when I'm surfing through YouTube to find solutions to some certain issue I do stumble upon some crazy shit that's been done just for the sake of getting millions of views.
And this might just be one of the examples of those crazy shit done by some crazy ass millionaire YouTuber and then they'll use caption like "How I lost my 4BTC to Satoshi" those shit's stupid as hell.
I don't think anyone would do this to get Youtube views. Do you know how little Youtube pays people right now. Why do you think so many people are doing sponsorships in youtube videos because the ad revenue is just not too high.
Last time I checked if you got a huge big channel and you get 1,000,000 views you maybe make $2000. So unless this guy got over 50,000,000 views he would only break-even. A few years back Youtube was more profitable but now its very difficult to make any money. Seems like a waste of time these days. Way too saturated even for crypto content.
Attention is an important new currency in society right now so it's still possible
But I agree it's not the greatest story ever to broadcast. 1BTC would have done the trick also
My guess is a crazy youtuber to get extra views. Maybe he can even recuperate the funds with the incremental views he gets
Would be stupid but have seen worse
Would be stupid but have seen worse
I won't be surprised if this turns out to be true because most times when I'm surfing through YouTube to find solutions to some certain issue I do stumble upon some crazy shit that's been done just for the sake of getting millions of views.
And this might just be one of the examples of those crazy shit done by some crazy ass millionaire YouTuber and then they'll use caption like "How I lost my 4BTC to Satoshi" those shit's stupid as hell.
I don't think anyone would do this to get Youtube views. Do you know how little Youtube pays people right now. Why do you think so many people are doing sponsorships in youtube videos because the ad revenue is just not too high.
Last time I checked if you got a huge big channel and you get 1,000,000 views you maybe make $2000. So unless this guy got over 50,000,000 views he would only break-even. A few years back Youtube was more profitable but now its very difficult to make any money. Seems like a waste of time these days. Way too saturated even for crypto content.
My guess is a crazy youtuber to get extra views. Maybe he can even recuperate the funds with the incremental views he gets
Would be stupid but have seen worse
Would be stupid but have seen worse
I won't be surprised if this turns out to be true because most times when I'm surfing through YouTube to find solutions to some certain issue I do stumble upon some crazy shit that's been done just for the sake of getting millions of views.
And this might just be one of the examples of those crazy shit done by some crazy ass millionaire YouTuber and then they'll use caption like "How I lost my 4BTC to Satoshi" those shit's stupid as hell.
Just wondering why someone would send 4BTC to the Genesis block which is over $75K.
Here is the transaction
https://www.blockchain.com/explorer/transactions/btc/6805b175260c47549995c3ff19c3c51596651c26269e9f1b31c243986433a0b7
I understand many want to send a small amount so they can get a piece of history on the block chain but sending over $75K which is pretty much a burn address since most likely it will never get spent is kind of crazy.
Why do you think they did this?
Here is the transaction
https://www.blockchain.com/explorer/transactions/btc/6805b175260c47549995c3ff19c3c51596651c26269e9f1b31c243986433a0b7
I understand many want to send a small amount so they can get a piece of history on the block chain but sending over $75K which is pretty much a burn address since most likely it will never get spent is kind of crazy.
Why do you think they did this?
For anyone who holds above 100 btc, burning 4 btc will not give them sleepless night nor sounds crazy to them. Since it is all about getting a piece of history I guess whoever it was is already making history even right here in the forum.
People do crazy stuff all the time, this shouldn't come as a surprise.
Two things that all of us can guess with it and like everybody is telling:
1. Just being grateful and that guy must be filthy rich with all of his accumulated and bought bitcoin when it was really cheap at all several years ago or bought like a decade ago.
2. A mistake that was never intended to send all of that 4 btc and things just happened so quickly like "send all balance" made by the owner.
It also took my attention about the fee that it's just 400 sats = $0.08.
1. Just being grateful and that guy must be filthy rich with all of his accumulated and bought bitcoin when it was really cheap at all several years ago or bought like a decade ago.
2. A mistake that was never intended to send all of that 4 btc and things just happened so quickly like "send all balance" made by the owner.
It also took my attention about the fee that it's just 400 sats = $0.08.
I don’t think it was a typo where the change and destination address was mixed up. If he meant to send something like $5 then there would only be 1 input and this transaction had 3 inputs.
Most wallets would just use 1 input to cover as much of the amount to spend.
Like others have said in this thread. It would of been better to just donate this money instead of waste it. Even if it removes circulation by a little it won’t make a difference in the long run. And having it sent there is pretty much a burn address.
Most wallets would just use 1 input to cover as much of the amount to spend.
Like others have said in this thread. It would of been better to just donate this money instead of waste it. Even if it removes circulation by a little it won’t make a difference in the long run. And having it sent there is pretty much a burn address.
How did you find this transaction?
Just wondering why someone would send 4BTC to the Genesis block which is over $75K.
Here is the transaction
https://www.blockchain.com/explorer/transactions/btc/6805b175260c47549995c3ff19c3c51596651c26269e9f1b31c243986433a0b7
I understand many want to send a small amount so they can get a piece of history on the block chain but sending over $75K which is pretty much a burn address since most likely it will never get spent is kind of crazy.
Why do you think they did this?
Who knows if that's just for a free will thanksgiving to appreciate Satoshi for his extraordinary work to make Bitcoin a reality 😂Here is the transaction
https://www.blockchain.com/explorer/transactions/btc/6805b175260c47549995c3ff19c3c51596651c26269e9f1b31c243986433a0b7
I understand many want to send a small amount so they can get a piece of history on the block chain but sending over $75K which is pretty much a burn address since most likely it will never get spent is kind of crazy.
Why do you think they did this?
I hope to see more Bitcoin sent to that address over and over again. There might be some rich kids that would never mind making a donation with any request. There had been so many eyes witha lot of scrutiny to know what will happen to those buck of Bitcoin sleeping over there without any use.
Thinking about it simply as why people sent merit to satoshi in bitcointalk. The account has no longer been active many years but merit does not stop coming to it.
It can be same reasons to send BTC to Genesis address that belongs to Satoshi Nakamoto.
Sending to that Genesis address but it is a donation for everyone. 'They' donated about 25 BTC to everyone.
Right let consider this as a donation, even if it's a mistake or an intentional act from that user, but the most important is that the Bitcoin is going to remain inactive until Satoshi decide to wake that wallet up some days. It can be same reasons to send BTC to Genesis address that belongs to Satoshi Nakamoto.
Sending to that Genesis address but it is a donation for everyone. 'They' donated about 25 BTC to everyone.
Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone.
But this is so big a gift 4BTC is quite large in total value and I don't think anyone will want to throw that away unlthey'reheir sure it can be used some days no one can tell what the motive for this transaction is at the moment.
I still can't fathom why someone will just want to throw away ~75k that's a whole lot of cash for someone to just dispose of. Even while I'm unable to think of why something like that was done I'm sure that the whoever did that must have a very good reason why such action was carried out. Perhaps it was just to burn it so that the amount of Bitcoin in circulation will be affected which in turn might affect the price of Bitcoin or maybe just to show appreciation to Satoshi since the it was sent to the satoshi's address. I don't think it was just a random mistake.
75k is definitely a big amount for most of us, but if this was done by a whale with tens of millions of dollars worth of bitcoin then this amount suddenly does not seem as impressive, besides everything depends on the preferences and wants of this person, some may prefer to spend those 75k on an expensive car or jewelry, but if that person decided that it was preferable to spend that money by sending such a huge transaction and creating such a reaction on the Internet about their reasons for doing so, then it seems to me they obtained exactly what they were looking for. Jump to: