@btcblockjams Dude, those sats literally will never be spent again. They have no value. They were sent to fake addresses to etch a stupid frog gif. No one has the keys. The sats are gone. Never coming back.
The net impact of Core 30 to date:
More large op_return spam, with the addition of a new attack vector against bitcoin.
Truly one of the most puzzling decisions made in Bitcoin Core's history.
@geekigai I wish people concerned with slippery slopes would apply it the other way: what kind of precedent does it set if we only ever roll over for spam?
@sedited_@evoskuil The unspendable ones.
I'm not familiar with the details of the cat, but etching with unspendable forever UTXOs is a tale as old as time. Steganography at its finest and my personal "favorite" type of spam, by far. I just wish dust limit was 5,000+.
https://t.co/0IMWNSAnE5
I scrolled by @mononautical post about weird frog gif stored on chain and saw “less than a hundred bucks!”
Newbies to spam dynamics like myself may not understand this type of “transaction” burns all outputs, sending UTXOs to unspendable addresses.
In other words, it cost a whopping ~$840, once we include the 613,470 sats burned (1,859 outputs of 330 sats). What misleading garbage!
The UTXO set is harmed, creating 1,859 outputs that will never be spent.
But the spammers get wrecked, wasting big money on nothing.
HODLers are the big winners, reaping the benefit of 0.000000029% deflation. Doesn’t sound like much, but adds up as the weirdos keep at it.
It’s definitely annoying graffiti style vandalism, but very costly for the perpetrators, not at all comparable to OP_RETURN, which allowed the freaks storing a Mechanic pic yesterday to pay only $120 for a bigger image and not burn anything.
Am I getting this right?