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Home » Satoshi Nakamoto Embeds Encrypted Messages in Bitcoin Inscription? Spends £60,000 to Encode 332 Entries, Community Deciphers as Government Surveillance Data
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Satoshi Nakamoto Embeds Encrypted Messages in Bitcoin Inscription? Spends £60,000 to Encode 332 Entries, Community Deciphers as Government Surveillance Data

Jan. 8, 20243 Mins Read
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Satoshi Nakamoto Embeds Encrypted Messages in Bitcoin Inscription? Spends £60,000 to Encode 332 Entries, Community Deciphers as Government Surveillance Data
Satoshi Nakamoto Embeds Encrypted Messages in Bitcoin Inscription? Spends £60,000 to Encode 332 Entries, Community Deciphers as Government Surveillance Data
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A mysterious transaction has once again appeared on the Bitcoin network. On the 7th, an address starting with bc1pn spent approximately 1.5 BTC to write about 8.93 MB of encrypted data into the Bitcoin blockchain. However, the motives and content behind this transaction remain unclear.

Recently, there have been several mysterious transactions on the Bitcoin blockchain that have sparked widespread discussion. One of these transactions occurred on the 6th when an address starting with bc1q9 transferred 27 bitcoins to Satoshi Nakamoto’s address, worth up to $1.174 million. This has led to heated debates within the community on whether Satoshi Nakamoto has “awakened.”

The mysteries don’t end there. On the 7th, another address starting with bc1pn wrote approximately 8.93 MB of encrypted data into the Bitcoin blockchain through 332 transactions. The most expensive transaction cost thousands of dollars, while most transactions cost around $200. In total, about 1.5 BTC, equivalent to $66,000, was spent.

As the data is encrypted, nobody currently has the ability to interpret its contents. This has sparked widespread speculation and curiosity within the crypto community, as the motives and content behind this mysterious action remain unclear.

Regarding the motive of writing data into the Bitcoin blockchain, one netizen responded, “I’ve been saying for months that once the government’s secrets are written into Bitcoin, there will be no way to review or delete them.” This viewpoint suggests that Ordinals can be used to permanently store sensitive data and avoid scrutiny or deletion.

Another netizen suggested that this data might be intentionally encrypted and will be unlocked at a specific time in the future, possibly indicating a planned action.

In terms of who executed these transactions, some netizens linked them to the previous day’s transaction of Satoshi Nakamoto’s wallet receiving Bitcoin and directly speculated that it was the behavior of “Satoshi Nakamoto.” However, some community members pointed out that the deposit itself does not signify anything, as anyone can deposit into Satoshi Nakamoto’s wallet, and only withdrawal authorization would reveal the identity.

Furthermore, another viewpoint suggests that the person executing the transactions may be related to a mining pool to ensure the successful writing of data into the blockchain. As for the content of the messages, one netizen presented their decryption results, which included words related to population, parameters, society, etc., speculating that it may be related to government surveillance data. However, due to the presence of 332 entries in the document, more time is needed to complete the decryption.

This event reflects the growing trend of using the Bitcoin blockchain for transactions beyond pure financial purposes. Ordinals enable the embedding of large amounts of data directly into the Bitcoin blockchain, opening up new possibilities for data storage and transmission. However, this has also sparked discussions about the appropriateness and potential consequences of such actions in terms of blockchain efficiency and purpose.

Related Readings:
“Texts Are Just Junk Information”: Is the Fastidiousness of Bitcoin Core Developers Reasonable?


Related Reports
Will the Reign of Ordinals, Paralyzing Multiple Public Chains, Last?
Is Bitcoin Texts the Emperor’s New Clothes of “Big Blockism”?
Opinion: Are Bitcoin Texts and BRC-20 Subject to the Decisions of Core Developers?

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