Inscription madness.
Several blocks full of consolidation transactions, arpund 150 transactions fill a block:
They all consolidate 250 UTXOs of 294 sats each, but even with 1.78 sat/vB, they burn 40% on the transaction fee. Spend 30k to salvage 43k sats. Times many, many transactions.
I counted at least 500 of these transactions, but maybe many, many more, as I didn't dig into the rest of the mempool.
Oh well, miners be happy.
At least they clean up their utxo mess
😂
Way to go
There are 185.9M UTXOs within the Bitcoin network. Cool stat 😎
You can even check them by type so for example there are 53 million that are taproot ones
Cool. This is basic stuff I know but are there only two types, Native Segwit and Taproot? I have holes in my Bitcoin education 😁
iirc this page is fairly good at explaining things: https://bitbox.swiss/blog/what-are-bitcoin-address-types/
If there are 100M added UTXOs, and consolidating 250 costs about 30k sats in fees, that will cost 120 BTC to consolidate them.
Hence: "Retardinals"
BUT NFTS ARE A SCALING TECHNOLOGY 🤡 🤡 🤡
