Re: Why would someone send 4 BTC to Satoshi (Genesis block)
⭐ Merited by The Sceptical Chymist (3)
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?
I think you already answered your question, to burn bitcoins basically. Don't forget that every bitcoin burned adds value to the whole supply, so this cool bloke out there probably thought of burning some of his bitcoins whilst at the same time cementing himself in the history, I mean we're talking about him right now, so I guess it works? 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?
Obviously that's curious, but there are 2 things we know for sure:
1. Satoshi is 4BTC richer now
2. The coins aren't lost unless Satoshi has no access to the private keys.
ps: If you want to be absolutely sure that you burn some coins, you can generate a wallet, send money to the address and make sure to forget the private key, or burn it, or destroy it, or demolish the building where you have saved it.
Well since we haven't heard from the guy I guess it's safe to say that he lost his keys, or maybe even did the same things you stated lmao. kiddings aside I can point to clout as to why they did this. They wanna be topical and be talked about probably in this forum, and they succeeded coz now we're talking about them. 1. Satoshi is 4BTC richer now
2. The coins aren't lost unless Satoshi has no access to the private keys.
ps: If you want to be absolutely sure that you burn some coins, you can generate a wallet, send money to the address and make sure to forget the private key, or burn it, or destroy it, or demolish the building where you have saved it.