Based on current evidence, youβre probably right, but what if we get a few weeks of this? At that point youβve got to ask whoβs bankrolling this
Discussion
Unless it is the miners doing this themselves
Why would miners do this?
To collect more fees
To launder Iβll gotten funds into legitimate mined funds.
Ill *
Can you elaborate ? If like to understand how this works
Iβm certainly not an expect at laundering money. Lol. Suffice to say miners choose the txns that go into blocks.
Ok, well i dont see how ehat you said would make sense... Was wondering if you could explain what you meant in more detail, genuinely curious. π€
Like I said, miners choose the txns that go into blocks. surely they could choose txns of their own creations where they paid 100x the satoshis in fees over what is moved to a new wallet to then make bitcoin gotten through scandalous means seem as if it was received from a legitimate mining operation. Sure they donβt know when theyβll mine a block, but the fact they can choose the txns when they do mine it means they can use some private mempool to do something shady. Some blocks have had 0% health latelyβ¦ not saying itβs right or true, but certainly conceivable
My theory is they are trying to gobble up a bunch of blockspace "real estate" by putting their little inscriptions on specific Satoshis with the idea that they will be worth more someday.
They think it's an investment that will pay off eventually when hyperbitcoinization happens, that they will be equivalent to rare pieces of original artwork. The earlier the block it first appeared on, the more rare and valuable it will be. Someone with deep pockets has come to this conclusion it seems.
There will be 2.1E15 satoshis on the chain, so the amount of these inscriptions that could be made is very high. Most likely what's going to happen is they will overinvest and create such a supply glut of these things that they will be worthless. Then this whole episode will be forgotten by everyone except a small niche is people who won't be able to let it go and move on.
Idk though I'm just spitballing.
Someone that needs to launder some money