Bitcoin's 2nd most crowded block ever: 11,204 txs minting the same rune, at ~11 sats per mint
At 00:04 UTC on Nov 8, AntPool mined Bitcoin block 975,005 with 11,360 transactions. Only F2Pool's 12,239-tx block from 2015 has more. Total fees for the whole block: 0.0021 BTC, about $154.
11,204 of those txs mint the same rune, UNCOMMON•GOODS. They come from one script run by 4 wallets: 25 txs per round, 447 rounds in this block, about 11 sats per mint.
https://mempool.space/block/000000000000000000007d3f14a759493bd3f9845362eab76a23677cc0d34872
🐋 What UNCOMMON•GOODS is
Rune 1:0, the first rune of the Runes protocol. It's hardcoded in ord, with no etching tx:
- 1 per mint, no decimals, no premine
- Cap set to the u128 max, so effectively unlimited
- Mintable from block 840,000 to 1,050,000, the 2024 halving to the 2028 halving
Anyone can keep minting it. The only thing to compete on is cost.
🐋 25 txs a round, 1 sat each
The script uses P2A (Pay-to-Anchor) outputs. Bitcoin Core 28 made them standard in 2024: anyone can spend one, and spending it needs no signature.
1. First tx: the wallet spends one of its own coins, mints 1, sends change back to itself, and puts 263 sats into a P2A output
2. Next 23 txs: each spends the previous P2A and mints 1. The runes ride along with the P2A, which drops 1 sat each hop, from 262 down to 240. No signature means each tx is 80 bytes, paying a 1 sat fee
3. Last tx: sweeps the first tx's change plus the final 240-sat P2A (holding 23 runes) back to the wallet, mints 1 more, and pays 242 sats
One round: 2,145 vB, 267 sats in fees, 0.124 sat/vB on average, 25 mints. The last tx pays about 1.45 sat/vB. Pools pick txs by the average feerate of the whole group, so the 24 one-sat txs before it get in too.
First tx of one round:
https://mempool.space/tx/bd75648bce37c5fce1b73c771799f3038db05d0eb7c53162af193a0395e04555
🐋 The cost per mint
The 447 rounds start from 4 wallets, running 209, 138, 70 and 30 rounds. All 25 runes from each round end up back in the wallet that started it.
……
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完整版见 X @musinoot
At 00:04 UTC on Nov 8, AntPool mined Bitcoin block 975,005 with 11,360 transactions. Only F2Pool's 12,239-tx block from 2015 has more. Total fees for the whole block: 0.0021 BTC, about $154.
11,204 of those txs mint the same rune, UNCOMMON•GOODS. They come from one script run by 4 wallets: 25 txs per round, 447 rounds in this block, about 11 sats per mint.
https://mempool.space/block/000000000000000000007d3f14a759493bd3f9845362eab76a23677cc0d34872
🐋 What UNCOMMON•GOODS is
Rune 1:0, the first rune of the Runes protocol. It's hardcoded in ord, with no etching tx:
- 1 per mint, no decimals, no premine
- Cap set to the u128 max, so effectively unlimited
- Mintable from block 840,000 to 1,050,000, the 2024 halving to the 2028 halving
Anyone can keep minting it. The only thing to compete on is cost.
🐋 25 txs a round, 1 sat each
The script uses P2A (Pay-to-Anchor) outputs. Bitcoin Core 28 made them standard in 2024: anyone can spend one, and spending it needs no signature.
1. First tx: the wallet spends one of its own coins, mints 1, sends change back to itself, and puts 263 sats into a P2A output
2. Next 23 txs: each spends the previous P2A and mints 1. The runes ride along with the P2A, which drops 1 sat each hop, from 262 down to 240. No signature means each tx is 80 bytes, paying a 1 sat fee
3. Last tx: sweeps the first tx's change plus the final 240-sat P2A (holding 23 runes) back to the wallet, mints 1 more, and pays 242 sats
One round: 2,145 vB, 267 sats in fees, 0.124 sat/vB on average, 25 mints. The last tx pays about 1.45 sat/vB. Pools pick txs by the average feerate of the whole group, so the 24 one-sat txs before it get in too.
First tx of one round:
https://mempool.space/tx/bd75648bce37c5fce1b73c771799f3038db05d0eb7c53162af193a0395e04555
🐋 The cost per mint
The 447 rounds start from 4 wallets, running 209, 138, 70 and 30 rounds. All 25 runes from each round end up back in the wallet that started it.
……
——
完整版见 X @musinoot
