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h/t gmaxwell (who got it from reddit he tells me):
visualization of entire history of 's utxo set:

🤯

youtube.com/watch?v=18m0bKsVb0

· · Web · 3 · 9 · 14

@waxwing OMG, that's amazing! Somebody needs to turn that into a live-updated tool that I can put on a display in my office.

@harding @waxwing i also thought about that, but then considered that with one block per 10 minutes it'd be mostly static

@orionwl @emzy @harding
@htimsxela

I love the way that chains of spends look like lightning strikes 🌩️ :)

@waxwing @orionwl @emzy @harding
I was trying to rationalize those 'lightning strikes', I guess they would be the consolidation spends of coins received by bitcoin businesses? Interesting to see the pattern arise, as it requires the spending of many ~equal value outputs that were received in succession, at the same time.

@htimsxela @orionwl @emzy @harding i didn't think about it too much, but i guessed they were just any case where people publish a big chain ( say, peeling chain) of spends ~ all at once.

@waxwing @orionwl @emzy @harding
That was my intuition as well, but I don't think it is the case, unless the amounts 'peeled off the chain' were all spent to the same entity, who later consolidated them (the 'lightning strike' would be this consolidation). The main chunk of the 'peel chain' would be repeatedly spent as the chain is created.

@waxwing @orionwl @emzy @harding
I guess in either case, the 'lightning strike' is a consolidation spend, the inputs could come from 'peeling chains' or not.

Though at 60hz resolution, there is maybe also the question of whether these lightning strike spends actually correspond to a single tx in a block, or txs in concurrent blocks. Given the repeated pattern... my gut says it would be oddly coincidental for them to not be in the same block, but maybe thats a bad intuition here.

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