Oddbean new post about | logout
 Inscription madness.

Several blocks full of consolidation transactions, arpund 150 transactions fill a block:

https://image.nostr.build/7259b497e9b1a012cfc8b801648073f2e1349567f40ccd1b08915b5f7c95e89f.png

They all consolidate 250 UTXOs of 294 sats each, but even with 1.78 sat/vB, they burn 40% on the transaction fee. Spend 30k to salvage 43k sats. Times many, many transactions.

https://image.nostr.build/d2d341ec816096f1e4dffe01c2bd437800674ef4f4385cc2ee8c51228d5d6a48.png

I counted at least 500 of these transactions, but maybe many, many more, as I didn't dig into the rest of the mempool.

Oh well, miners be happy.