Avatar
Jason Hodlers 🪢
d162a53c3b0bfb5c3ebd787d7b08feab206b112362eca25aa291251cd70fe225
Follower of The Way, Jesus Christ. His words are not only found in the Bible. Creator of @npub1fdc5nr47gx8pcz9cppyat9fx0gc9hv48nke7pf78drx7rpqw28ksqgx779. Christian, homeschooling father of 6, & Bitcoin maximalist.

A) No, money may be laundered for any number of reasons, such as when someone doesn't want their legitimately-earned money tracked when they buy an illegal plant (that should also not be illegal) for medicinal or even recreational purposes.

B) If one wishes to launder money because they stole it from someone, then the act of theft is the crime, not the act of laundering money.

No, you consolidate UTXOs by sending them to yourself. Whenever an on-chain bitcoin transaction confirms, it's as if your bitcoin is physical gold coins, and they're melted down and rechecked to be 100% certain that they're real. So consolidating your UTXOs is like having a bunch of gold dust and small coins that need to be melted down in an on-chain transaction, and then they're turned into a single large gold bar. So to do that, it would need to be an on-chain transaction, but the recipient would be yourself.

My original post was also meant as kind of a joke, since 100 sats/vbyte is still pretty expensive. You could say it was a bit of "gallows humor," or sarcasm about the current spam attack that Bitcoin is going through right now.

On-chain fees have dipped below 100 sats/vbyte! Better take this opportunity to consolidate your UTXOs! 😅🤣

If you're bullish on runes, you're bearish on #Bitcoin.

If you're bearish on bitcoin, you're bullish on slavery.

If you're bullish on slavery, you're bearish on humanity.

If you're bearish on humanity, you're my and everyone's enemy.

On Saturday, I taught a 4-year-old about the halving at our Halving Party. The kids in attendance had just watched this Bitcoin episode from the Tuttle Twins:

https://v.nostr.build/5G5lZ.mp4

Afterward, I switched my computer back to display the Timechain Calendar. The conversation that followed went something like this:

Me: "Do you know what that is?" [gesturing to Timechain Calendar being projected on the wall]

Him: "Yes. That's Bitcoin."

Me: "Do you know what those numbers mean?"

Him: "Um... No, not really..."

Me: "Those are the number of blocks in Bitcoin so far. There's another block every 10 minutes, and the first one was when Satoshi first started Bitcoin. And now there are 840,093 of them!" (yes, that was the block height at the time)

Him: "Wow! Really?!"

Me: "Yeah. And did you know that something really special happened last night with Bitcoin?"

Him: "What happened?"

Me: "When that number said "840000, something called the 'halving' happened, because the amount of new bitcoin was cut in half. Have you heard about that?"

Him: "Not really. Is it like cutting a sandwich in half?"

Me: "Yes! It's exactly like that. Imagine I keep making sandwiches and give you a new one every 10 minutes. But then, after doing that for 4 years, I cut each sandwich in half, and just give you that. And then, after 4 more years, I cut it in half again. And then again and again and again. [showing the diminishing size if the sandwich slices like 🤏]

"Last night, that happened with bitcoin, too. The amount of new bitcoin that was being discovered every 10 minutes was cut in half. So now it's a lot harder to find more bitcoin!"

Him: "Oh, wow. So... If someone wants some, it's gonna be a lot harder to get it, right? Unless they pay with more dollars, right?"

Me: "Exactly."

His parents, who are new friends of mine, sure are raising him right! 🧡

Ah, okay. I know that's possible with some bots, but I don't know if it's possible with this one, specifically.

"... ₿e ready always to give an answer to every man that asketh you a reason of the 𝘩𝘰𝘱𝘦 that is in you ..."

- 1 Peter 3:15