Bitcoin’s Historic Moment
On December 2, 2020, Slush Pool, the oldest mining pool in the Bitcoin universe, decided to make a statement. They embedded a Reuters headline into Bitcoin block number 659678 that read: “Dollar plummets on U.S. stimulus hopes; Bitcoin hits all-time peak.” This immortalized the moment Bitcoin was soaring high, conquered by mainstream media attention.
The Decision to Immortalize
Slush Pool tweeted about their miners’ request to etch this bullish Bitcoin headline into the blockchain, making it a permanent fixture of crypto history. It’s like carving your name into a tree, except the tree is a decentralized ledger, and every squirrel (or miner) can see it. Slush Pool proudly proclaimed:
“Our miners asked us to immortalize it.”
What Sparked This Immortalization?
The Reuters article published on December 1 noted the weakening U.S. dollar alongside Bitcoin’s record-setting climb past the $19,892 mark. It highlighted the anticipation surrounding a second COVID-19 relief bill being discussed in Congress, linking economic stimulus directly to Bitcoin’s boost. It’s like a symbiotic relationship: the dollar stumbles, and Bitcoin leaps in to save the day—or at least, bank accounts.
A Nod to the Genesis Block
Embedding this headline also resonates with the spirit of Bitcoin’s very first block, the genesis block, which famously featured a headline from The Times stating, “Chancellor on brink of second bailout for banks.” With this latest move, it feels like Slush Pool is saying, “We are part of the story, too!”
Media’s Role in Crypto’s Rise
As Bitcoin continues to rise, mainstream media outlets have sharpened their focus on the cryptocurrency scene. However, not everyone is thrilled with the media coverage. Notorious Bitcoin skeptic Peter Schiff has been vocal about his disapproval. He tweeted on December 1 that the excessive coverage by CNBC exemplifies “a new low in financial journalism ethics.” Maybe he’s just mad he didn’t buy Bitcoin himself.
In Conclusion
By encoding a significant media moment in the blockchain, Slush Pool has not only memorialized the day Bitcoin’s value skyrocketed but also broken down barriers between old-world finance and the new wild west of cryptocurrency. Will this be a chapter in the history of Bitcoin, or just a quirky footnote? Only time—and perhaps market fluctuations—will tell!
