Someone just sent 26 BTC to genesis block address

[paid2]

https://mempool.space/tx/d7db4f96a4059c8906b953677ce533493d7b9da0f854a21b99f5772910dd0a31



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

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

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[EFS]

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.

[blockman]

The fact that the sender overpaid 4x the fee, pretty sure that he's aware of where s/he's sent it. And another amazing thing is sending a million with a $12 fee but it could have been lesser if the fees are quite lower. Just as what satoshi has said, thanks to the donation to the community as this is making each of our Bitcoins or satoshis more valuable. Let's see later if someone is going to claim that s/he has mistakenly sent it there or just trying to flex how much BTC they got.

[Wiwo]

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.

[AmoreJaz]

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.

well, on the note whether it is intentional or not, i guess we won't know the real answer here as we won't know who did place such transaction.

but i can agree with the reason that it should have been used in other pressing matters happening around the globe. but who are we to judge why such tx happened?

and if this is not intentional, the user who made such error will have regret of the lifetime he can't forget.

[PX-Z]

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.

[stompix]

well, on the note whether it is intentional or not, i guess we won't know the real answer here as we won't know who did place such transaction.

Pretty sure a few guys know already who did it , the address was funded from okx hotwallet so at least the staff there knows who this guy is.

I doubt the mistake thing, somebody who is able to us a cex, withdraw to his address 26 BTC won't magically happen to have the genesis address in his clipboard and just paste it in a transaction. I would rather point things at a badly configured sweeper bot or malware than on a common mistake.

[Darker45]

Burning Bitcoin? For what purpose? I doubt it's haters who did it. Only 26 coins? That's nothing at all. And that already cost them more than a million dollars. That would be a crazy way to do it. They could have just congested the mempool with that amount.

If it's an error, it's a costly error. And how could the sender end up pasting the genesis address? It was possible he/she was multi-tasking, researching or having fun checking old addresses at the same time making transactions. That's not a good combination.

[Nwada001]

This does not look like a mistake to me at all; this is an intentional act, and the person who ever sent such an amount is the only one who knows the reason why they did that.
 
Check the transaction. We can all see that it was from a multi-signature wallet, which means they have to confirm before sigining in the transaction. There is a very slim chance for such a big transaction to be an error.
 
The question here should be, Why did they do it? Well, whoever has the money can decide to waste it, but sending such an amount to an address where it can't be spent is really questionable, and the exchange that executes such transactions should be aware of who is behind it; they definitely have more for them to spend.

[alani123]

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

[UchihaSarada]

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.

The 50 BTC in Genesis block can not be used/ sent but BTC sent to the Genesis Block address later, can be used.

No one can knows Satoshi Nakamoto or anyone else has access to private key of that address. Assume, no access, any bitcoin sent to that address is lost and it is like burned coin.

The founder's vision on lost/ burned bitcoins

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

That address history
https://bitinfocharts.com/bitcoin/address/1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa
Almost 100 BTC burned in this address that is a big donation to everyone.

[gmaxwell]

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

Recent leaked emails[1] show that Calvin Ayre-- the billionaire rube that has been funding Craig Wright's litigation-- believes that Wright actually controls early addresses in the blockchain, consistent with Wright's initial claims but contradicting Wright's more recent claims in court (that he "stomped the hard drives").  Calvin believes Wright can only win the lawsuit against Bitcoin devs by using these early keys and has been pressuring Wright to do so. I'd agree that at this point it would be his only path to even have a chance of winning, and even that would be far from certian given the extraordinary level of obvious forgeries.

On December 20th the UK courts increased the security Wright owes the Bitcoin devs for trial from £100k to £900k. The remaining amount not already paid was due today. (We won't know for a few days if the payment to the court cleared).  At the time of the transfer 26.91679286 was worth about £920k.

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.

I wouldn't expect Wright to make the payment out of funds newly received from Ayre, but rather to make them out of float used to pay his legal representation going forward, and then get a top-up payment from Ayre.  Wouldn't it be funny if Ayre paid Satoshi's address as part of an effort to force Wright to use it?  It would be clever on his part:  If he believes Wright will lose unless he uses the address then funding him via an address he can't use won't make things worse and it might save Ayre money if Wright's inability to pay terminates the case early. It would be a genuinely good idea, given Ayre's beliefs. (a better idea would be to wake up and stop being ripped off, but that would have happened long ago if it were going to happen)

Another related explanation is that someone may have set this address as their primary address on a service, either as a joke or because they were LARPing as Satoshi-- and then they either accidentally withdrew to it or got kicked off the platform and automatically had their funds sent there.  Who do we know LARPs as Satoshi and may have needed to access another 26.9-ish Bitcoin today??  

History may not repeat but it does rhyme. During the large ATO investigation into Wright, Wright sent some amount of bitcoin equal to his tax-ID *to* some high value address he was (falsely) claiming to own-- so he could then point to his tax ID on the blockexplorer page as evidence that he owned the address.  The tax office didn't fall for it, but I could easily see some people falling for it. 26.9 BTC is a lot of money but relative to the amount Wright is spending on litigation it's not *that* substantial, it wouldn't be impossible for that manic to think he could get some benefit in court by throwing coins away at Satoshi's address.

All in all it's probably more likely that someone had the genesis address in their clipboard for some reason,  but I wouldn't find any of the above too shocking and they are fun to consider.


[1] Email page 1; Email page 2

[franky1]

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 did also have a deal for the ROI winnings of court cases he funded, but recently stepped back from funding court cases due to only getting the equivalent of a lollipop amount

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

what if i told you that this BRC-20 junk is just OTHER(separate group)* scammers selling junkdata and getting paid large amounts for a few sats, and then just being frivolous with their scammed income, spamming away their earnings to nothing..  because if they ever dare cash out to a KYC'd exchange, their real world identity would be known and then legal issues then follow

*maybe team ordinals is now funded by BSV. but from my view they are sponsored by the same corporations that prefer offramping people to subnetworks by making bitcoin annoying to use

[digaran]

@gmaxwell, what is the probability percentage that CSW is behind the puzzle challenge? Is that a possibility in your opinion?
Lets not forget that the real satoshi would never support a centralized coin like bswhatnot, I think that should be the obvious sign. Though they just gifted dragon with 26 Bitcoins, I hope he uses it to make a development platform where authorized people can have access to tech resources for better development. 😉

[adaseb]

Here is what is strange. I remember a year ago something similar happened because I made a thread about it on Bitcointalk. And get this, someone sent 4 BTC about a year ago, it was on January 8th 2023, at the time this was around $65K or something around that number.  I found it strange.

Now about a year later and someone else in January also sends a large amount to Satoshi. Honestly these bitcoins are pretty much gone for good because I don't think they will ever be moved.

[btc78]

Whoever this person or group of people might be, they must be rich and earn a lot of bitcoin

But still burning 26 bitcoins is a huge deal if this is truly intentional i wonder what they were thinking
Did they think that this would increase the price of bitcoin? With some coins inaccessible and therefore no longer in the circulation? Even if this was their goal, it is a bit ridiculous or maybe even super ridiculous instead of just investing like normal people and waiting for right timing they decided to manually control the market

[Poker Player]

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.

[0t3p0t]

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.

[gunhell16]

https://mempool.space/tx/d7db4f96a4059c8906b953677ce533493d7b9da0f854a21b99f5772910dd0a31



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

“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.

[pakhitheboss]

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?