Someone just sent 26 BTC to genesis block address

[Sanitough]

Someone, please wake me up,  26 bitcoins are quite a fortune to be burned just like that,  considering the current value of Bitcoin,  I suspect this could be an error transaction.

But if it is intentional,  I will say this should be the most ridiculous thing I had this year so far,  but the world needs that money instead of throwing it away forever,  we have so much hunger in the world and humans need money to buy basic needs why burn the money no matter what the state of your wealth.

Any hard-earned bitcoin or money is never meant to be burned, regardless of how much its value as long as the owner works hard for it, then it’s odd to consider burning bitcoin, unless if the transaction made becomes an erroneous one. And I’d say this is obviously not intentional either, 26 btc is certainly huge, no one would dare simply throwing it away without valid purpose.

Burning bitcoin in the past might not be an issue since the value is still absolutely low, but hey with its current value, anyone would be throwing even 1 btc is not on his proper thinking, except if the transaction goes wrong, then it’s hard to retrieve it again.

[philipma1957]

https://blockchair.com/bitcoin/address/12c6DSiU4Rq3P4ZxziKxzrL5LmMBrzjrJX

isn’t this first block

and this is block 0

https://bitinfocharts.com/bitcoin/block/0/1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa

which is 1 block sooner

[tsaroz]

Someone, please wake me up,  26 bitcoins are quite a fortune to be burned just like that,  considering the current value of Bitcoin,  I suspect this could be an error transaction.

But if it is intentional,  I will say this should be the most ridiculous thing I had this year so far,  but the world needs that money instead of throwing it away forever,  we have so much hunger in the world and humans need money to buy basic needs why burn the money no matter what the state of your wealth.

The same thing came to my mind. They could have just anonymously donated the coins to some charity than to render them useless. They might have their reason but there has no obvious effect on burning coins as such.
If it's through a mistake it's a very heavy one, and if it's intentional, it's a foolish one. Burning isn't going to help any miners or even the large holders in both short and long term. There are losses every year due to loss and deaths and the supply would keep on decreasing even though you are not wasting 20BTC at once.

[Mia Chloe]

generated via imgflip

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

Hahaha
Why don't them haters make same move? ( laughs)
I guess BTC is too risky for them to burn
The funny thing is that burning Bitcoins even makes it more scarce and less amount in circulation makes the value higher and more stable .
Besides that was Satoshi's point of the halving protocol ( to reduce inflation and promote the Bitcoin value.)

[hilariousetc]

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 where they done a deal demanding all story licencing rights (book and movie deal) when media production/producers come calling and asking for rights to make movies about CSW drama

ayres only wants to keep the rouse alive because he is still hoping big movie producers will make a phone call one day offering a large cheque for the real CSW story

There's more at stake than a potential and hypothetical movie deal. There's not much money to be made in a biopic about satoshi. Even authors of hit books are lucky if they get a million or so advance for their work and they already have source material which has a fanbase. Craig doesn't have anything yet and anyone could write a book about this and then sell the rights to it. All craig could give is exclusive access or make it 'official' but you don't need his permission. Calvin is just hoping Craig can con the courts into giving him ownership of bitcoin and the fortune of the early lost coins along with patents on blockchain technology etc. I don't know why he hasn't given up yet but maybe he's in too deep now and might as well see it out till the end. Like most BSV-ers I doubt he actually still believes he is satoshi even if he did at the start, but just has a financial incentive now. I think most BSV-ers are just greedy fools who think this is their opportunity to invest in "bitcoin" at sub £100 prices so they continue the charade in the hope of getting rich.

[criptoevangelista]

It was probably a wrong transaction, very sad for the person who lost their bitcoins in this way, it must be desperate.

It's always a good idea to check the address correctly, or send a small amount beforehand to make sure everything goes well.

[darkangel11]

I like the CSW angle in this. I think it's the best explanation in this thread and if it's real (which I think it is) I hope it was either his mistake, or he used that address somewhere and got money sent to it.
Thank you for your donation, Craig. You're a sick mofo, but keep it going. Your loss is our gain.

Imagine the look on his face when he gets an email from some company saying -we've sent money to one of the addresses you provided when you made an account with us. Then he checks the address and his face gets more and more pale as he realizes where the money went

[Mr. Magkaisa]

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.

        -   You know, to be honest, that makes me think a little bit, because in this day and age, if you are the one holding that amount, it will not be simply released or released. If it is different from us here, who aspire to hold at least 1 bitcoin when the arrival of the bull run is fine with them, if their target sell is 100k$ per bitcoin, that's 26 btc.

Could it be that the person who did that is not really the original owner of that address? Is it possible that a hacker did it? I'm just asking because if the original owner is still holding that address, even if we say that there is an emergency purpose that happened in his personal life, he will not do it for sure to release such a large amount. In fact, what do you think?

[Ale88]

To be honest, I really don't know what to think about this transaction, at this point I think that it's better if this person did it on purpose because at least it means that they knew exactly what they were doing. If it's been a mistake, wow, I really don't know what I would do at this point, maybe this guy has a ton of bitcoins anyway, who knows...

[Wiwo]

Edit

The same thing came to my mind. They could have just anonymously donated the coins to some charity than to render them useless. They might have their reason but there has no obvious effect on burning coins as such.
If it's through a mistake it's a very heavy one, and if it's intentional, it's a foolish one. Burning isn't going to help any miners or even the large holders in botthe h short and long term. There are losses every year due to loss and deaths and the supply would keep on decreasing even though you are not wasting 20BTC at once.

That the extent of the hate against human freedom,  the act is perceived to them as being an anti-Bitcoin move,  and with that in mind they failed in every other sense of reasoning to charity or humanity was not in their thought,  just as in the thought of Satoshi who left Bitcoin to flow on it own without interferences,  well maybe they are among the early whales who bought loads of says at an incentive or a giveaway airdrop manner.

Or even hackers who are looking for where to throw away the Bitcoin without any trace,  but in reality this act is anti-social.

[Cryptoman2009]

To be honest, I really don't know what to think about this transaction, at this point I think that it's better if this person did it on purpose because at least it means that they knew exactly what they were doing. If it's been a mistake, wow, I really don't know what I would do at this point, maybe this guy has a ton of bitcoins anyway, who knows...

see the Chart of BTC address where did the 27 BTC come from.
first transaction 13 december 2023.

https://www.blockchain.com/explorer/addresses/btc/bc1qlccksaaehjkdv4tgf032pvx8n76uhazqt4rgy70y4drmqwh5espqwx89f9

[cryptosize]

Up thread it's noted that the source of the funds has heavy BRC-20 activity and I've been told that Ayre has been significantly funding BRC-20 activity.

Source?

Since you've been a reputable BTC developer, I'll take your post seriously, especially considering the fact BSVers/big blockers consistently deny there's a conspiracy going on for almost 3 months to clog the BTC blockchain and render it useless for e-cash/p2p transactions.

Sorry HmmMAA, but no free market economics/laws/logic can explain WHY would someone burn 26 BTC! Either it's pure stupidity (highly unlikely) or something more sinister is going on behind the scenes.

Also, since the transaction was made from Binance, isn't it possible to verify the identity via KYC? Or am I missing something?

[digaran]

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

Your source. If you read the posts above it, you will see okx is the exchange not binance. All according to the sources though.

[franky1]

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

Your source. If you read the posts above it, you will see okx is the exchange not binance. All according to the sources though.

lets use an explorer and follow the taint (backward audit)

block 0 satoshi address
1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa
received received 26btc from:
bc1q9z82prqdknpv4ku3haargeu7c0h67yrpree6v2
received 39btc from:
bc1qlccksaaehjkdv4tgf032pvx8n76uhazqt4rgy70y4drmqwh5espqwx89f9
received 39btc(~19.5+~19.5) from:
binance4 ~19.5btc
binance4 ~19.5btc

so its binance not OKX..
(though blockchain.info tagging of addresses could be wrong)
(though bitcoinrichlist tagging of addresses could be wrong)

[bayu7adi]

To be honest, I really don't know what to think about this transaction, at this point I think that it's better if this person did it on purpose because at least it means that they knew exactly what they were doing. If it's been a mistake, wow, I really don't know what I would do at this point, maybe this guy has a ton of bitcoins anyway, who knows...

Of course, only people with a significant amount of Bitcoin would consciously donate 26 BTC. Someone with a low savings balance would unlikely consciously do such a thing. An equivalent of 1 million dollars is indeed valuable for many, but those in control of substantial wealth may not consider it a big deal as long as they can generate more.

This transaction has already occurred, and we all haven't felt anything special or significant change; we're just amazed by the amount because it's substantial to us. I think speculating on that person's decision is starting to become pointless.

[lixer]

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

If they can throw away money just like that, it can mean that they are filthy rich and they won't ever struggle financially. But if ever it was a mistake, it is painful, as the amount is not just big but its pretty huge. That was $1m dollars we are talking about here.

As a normal BTC investor, they are also planning to sell their coins on the exchanges once they think they are profiting already but too bad it won't ever happen. . If it's intentional, only crazy people will indeed follow the same action. What will they get when they do that anyway? LoL  . We can only wish it came to the poor BTC users and they can use the money wisely, but they can be kind enough to return it to their rightful owners.

[tread93]

If it was an error then that was a big error to make! I can't believe someone could just shoot over an entire fortune like that, its just wild to think of! Perhaps it was a flex or perhaps it was an accident we never really may know the truth. If it was meant to be on purpose certainly they have a boatload of bitcoin!

[AndrewWeb]

I think it is supposed to be a demonstration of ownership. The sender wants us to believe he has the private key to this address. Unless he moves the coins to another address, I don't believe him.

[BadAss.Sx]

It is just a sign. Buckle up

[tabas]

If it was an error then that was a big error to make! I can't believe someone could just shoot over an entire fortune like that, its just wild to think of! Perhaps it was a flex or perhaps it was an accident we never really may know the truth. If it was meant to be on purpose certainly they have a boatload of bitcoin!

I don't think that it was an error. It was probably done on a purpose. Who knows that if this is just someone who has bought thousands of Bitcoin during the early days and want to thank satoshi for his contribution and he has done his part. But honestly, this is really a fortune of a lifetime that someone can easily drop off and forget about it. This guy/gal probably have a lot of money or BTC holdings and this isn't really a mistake but sort of token of appreciation and showing his/her gratitude to satoshi and bitcoin.

I think it is supposed to be a demonstration of ownership. The sender wants us to believe he has the private key to this address.

No, it wasn't a demonstration of ownership. Because if someone who owns that address, it's none other than satoshi himself. It is just a way to burn those BTCs forever.

Unless he moves the coins to another address, I don't believe him.

You don't have to believe nobody because it's the genesis block address and only satoshi is the one who's known to have access on it but we don't even know where he is or might be dead and unlikely to come back.