🤔

This recent transaction strikes me as curious. Someone is consolidating about 1,000 inputs, little UTXOs of exactly 18K sats apiece, into a single output of 17 million sats. Naturally it’s a large transaction in terms of data, so at a fee rate of 16 sats/vB, it cost them over 1M sats to get the transaction into a block.

They’re spending a million sats ($650) to consolidate a thousand UTXOs into a single UTXO of 17 million sats ($10,200).

Does this look like someone paying the price of a daily DCA to self-custody? Painfully pricey, if so.

Also, the destination address is a format I don’t recognize: “15mcK…7TQU” whereas I’m used to seeing the “bc1q…” addresses. Is this multi-sig? Taproot? Some older address format from before my time?

It kind of blows my mind that we as a society actually have this pristine public ledger, which not only defines a continuous of truth and reality, but also provides unlimited learning material: kindling for the flames of curiosity.

I wonder if someone might be able to offer some insight into what’s going on with this peculiar transaction… does it look like a DCA consolidation?