Someone is consolidating large batches of UTXOs at erroneously high fee rates. In the last 7 days they have overpaid by over 5 BTC ($580k) 🤯 They could instead just use 1 sat/vB and RBF if needed (or use Mempool Accelerator Pro and avoid any complexity😉) 196 tx match the following pattern between block heights 913374 - 914379 (past 7 days). - Minimum Input Count: 100 - Output Count: 2 - Fee Rate: Between 101.6 and 101.7 sat/vB Total fees: 5.43388700 BTC
1 sat/vB is clearing but someone just made a consolidation at 102 sat/vB 🫥 image
gm image
I've put some numbers together to help you determine whether the horse has already bolted regarding the use of bitcoin for non financial transactions. 49% the UTXO set is sub 1000 sat outputs 43% of transactions in the past 2 weeks had an OP_RETURN or were inscriptions. image
A third of all transactions in the past 30 days were BRC20
What is the best long form criticism or caution regarding the strategic bitcoin reserve?
Q/ Wait how is the Mempool now 22 blocks deep!!? A/ Well this one address ( Possibly “CoinCola” from a quick search) is associated with 926+ chunky consolidation transactions which are now in the mempool. Nature is healing.
Have you ever used testnet?