The Enigmatic Bitcoin Inscription
An unidentified Bitcoin enthusiast has made headlines by spending approximately $64,000 to inscribe nearly 9 megabytes of raw binary data on the Bitcoin blockchain. This intriguing event was first reported on January 7 by the Ordinals explorer Ord.io. The inscriptions, numbering 332, were created using over 1 Bitcoin at around 11:20 am UTC on January 6, with the data consisting of raw binary format.
The Puzzle Behind the Data
Despite attempts to decipher the inscribed data, its true nature remains a mystery. Some speculate that the data could be encrypted, making decryption a challenging, if not impossible, task. Leonidas, host of The Ordinal Show, remarked on the potential complexity of decrypting this enigmatic data.
The Unknown Bitcoiner
Adding to the mystery is the identity of the Bitcoin address involved in this inscription spree, labeled as “Unnamed” on Ord.io. The address, “bc1pnp…zwd0th”, has sparked curiosity and speculation among users regarding the individual or group behind these transactions.
The Encrypted Data’s Composition
The inscribed data encompasses a range of symbols from English, Greek, and mathematics, presenting a diverse and complex composition. This diversity adds another layer to the enigma, as it hints at a potentially sophisticated and thought-out process behind the inscription.
Unique Markings: Digital Pepperoni Pizza
Adding an intriguing twist, two of the 332 inscriptions are marked with a digital pepperoni pizza symbol. This is a nod to the 10,000 BTC transaction used to purchase two Papa John’s pepperoni pizzas by early Bitcoin contributor Laszlo Hanyecz on May 22, 2010.
The Context: A Day After a Major Transaction
This mysterious event closely follows another significant Bitcoin transaction. On January 5, a staggering 26.9 BTC, valued at $1.17 million, was sent to Bitcoin’s Genesis wallet, the very first Bitcoin wallet ever created. This has led to various theories among industry experts.
Theories and Speculations
Coinbase’s director, Conor Grogan, speculated about the involvement of Satoshi Nakamoto, Bitcoin’s elusive creator, in these recent activities. Meanwhile, pro-XRP lawyer Jeremy Hogan suggested that this could be a tactic to reveal Nakamoto’s identity. However, the effectiveness of such a strategy is debated, especially considering jurisdictional issues related to U.S. tax laws.