Someone Just Burned $345 to Put a Labubu on the Bitcoin Blockchain

Someone Just Burned $345 to Put a Labubu on the Bitcoin Blockchain


A new transaction on the Bitcoin network surprised the ecosystem by using more than 10,000 OP_RETURN outputs to embed an animation that will be permanently recorded in the archive of the network created by Satoshi Nakamoto.  

It was an image that represented a rabbit-like character, called “labitbu”: 

    They use the Bitcoin network to embed non-monetary data. Source: mempool.space.

This transaction, included in block 909042, combined at least two inputs, suggesting that funds from different sources covered its costs.  

The f08fd61d48f79eeb0c4bc9e58f2d7ecad0e20e5d6411b588590cb0480c8e7fbe hash groups the more than 10,000 OP_RETURN outputs, all with zero cost. The operation size was 268,690 vBytes and the fee of 296,020 satoshis (minimal unit of BTC), equivalent to $345.19. 

OP_RETURN is an opcode, or instruction, within the Bitcoin protocol that allows data, such as text or images, to be included in transactions without assigning a value in bitcoin. 

This practice demonstrates an alternative use of the protocol, deviating from its original design as a system for transferring monetary value. Instead, some users are using Bitcoin for artistic, recreational or other purposes, reaching up to 40% of total Bitcoin transactions, raising debates about its efficiency, purpose and even triggering a client war in recent months.

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Blockchain Development
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