Over the course of 332 transactions, an anonymous wallet spent about 1.5 bitcoins, worth about $66,000 at current prices, recording approx. 9MB of encrypted data On the Bitcoin blockchain.
The most expensive transactions cost thousands of dollars in fees each, although most transactions were closer to $200. However, since the data remains encrypted, no one has yet been able to read the inserted data.
X Account for Ordinals Explorer Ord.io to publish about the cameo, leading to jokes, speculation, and rickrolls from X users speculating on the motive behind these actions.
The process was enabled by the Ordinals protocol, which attributes data to a specific satoshi – the smallest unit of Bitcoin. Arrangements are most commonly used to store artifacts directly on-chain, although all types of data can be included, including ciphertext.
Engraving isn’t the only seemingly strange use of the Bitcoin blockchain recently. An anonymous wallet recently sent $1.2 million to the Genesis wallet mined by Satoshi Nakamoto. Funds have not been transferred from Satoshi’s wallets since 2010, meaning the funds are likely unrecoverable.
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