rpz
Joined 8 years ago
Joined 8 years ago
I wonder if the line is bang on in that projection.
This account lends some credence to theories of the pyramids functioning as some sort of ram pump in my opinion. (Check out John Cadman’s work if you’re interested).
With that being said I’m still confused about how blockchain.com is representing this data. Consider block 825075 on the bitcoin blockchain.
https://www.blockchain.com/explorer/blocks/btc/825075?page=1...
Not all of the transactions in this block show with multiple outputs where one output is the originating address. In fact if you sort by value ascending you’ll be able to see multiple transactions from the same address to the same address amount to $.13 with fees $2.86 transaction ids 78b1741ee0946380d9ee31d51d160a637394b24b5cfdc2871861d8e1db484d2f and 201a94087323d152911575ea029df9d1a0d46626a1b18211727be913d747e72f and so on.
Now, contrast those transactions with transaction f395de972c4ba3fea85a2c1621bfe9fa238950f6a2eb3d3b4932f7f620f63ce2
Why do they display differently on blockchain.com?
Honestly I find it kind of suspicious but I could easily be missing something. I see multiple transactions spend more on fees than the amount exchanged in the transaction. A number of transactions looked enormous but turned out to be some form of washing. E.g address X sends $100MM worth of bitcoin to two addresses, with ~$1k going to address Y and the rest going right back to address X.
What’s the point? Why not just send $1k to address Y.
I originally started looking around to get a sense for how much bitcoin is being transacted relative to the block reward. As the halvings continue I can’t imagine how miners can profit without exorbitant transaction fees. Many of the transaction fees in the block I looked at were comparable to wire transfer fees.
Why would anybody want to use bitcoin outside of speculation after nearly all 21mm bitcoin are mined? Why would anybody want to continue mining as well?
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