- There was a special and historically significant surprise hidden in the coinbase transaction of block 629,999
The Bitcoin block halving is complete, and now the block reward has dropped from 12.5 Bitcoins to 6.25 Bitcoins, launching the crypto space into a new era. Notably however, in the last block of the previous block reward era, which was block 629,999, contained a historical Easter egg hidden in the coinbase transaction.
The final Bitcoin block with a subsidy of 12.5 BTC was mined by @f2pool_official and contained the following message in its coinbase transaction:
?NYTimes 09/Apr/2020 With $2.3T Injection, Fed's Plan Far Exceeds 2008 Rescuehttps://t.co/9dtTrC8YH6
— Jameson Lopp (@lopp) May 11, 2020
Essentially, when a miner finds a block they generate a coinbase transaction, and they can choose to insert a message into this transaction. In this case, F2Pool, which is one of the biggest mining pools, inserted the following quote into block 629,999: “NYTimes 09/Apr/2020 With $2.3T Injection, Fed’s Plan Far Exceeds 2008 Rescue”.
What makes this relevant is that Satoshi Nakamoto included a quote in the Genesis block about the 2008 Great Recession, since Satoshi was inspired to create a decentralized currency after witnessing out of control Central Bank money printing. As the quote correctly points out, now the world finds itself in a major global depression once again, and the current economic crisis may be even worse than the Great Recession.
Now the question is, will Bitcoin fulfill its purpose of offering a decentralized safe haven for people worldwide who are trying to avoid fiat inflation, as Satoshi originally intended? Only time will tell.
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