Cointime

Download App
iOS & Android

Bitcoin Records Largest Mined Block to Date, 4 MB Block Containing NFT Causes Unease Among Small-Block Supporters

Validated Individual Expert

Amid the controversy surrounding the Ordinals project and the debate over what types of data should be stored on the Bitcoin blockchain, the network mined its largest block, nearly 4 MB in size, containing just 63 transactions. One of the transactions was a 3.94 MB Ordinal inscription featuring an image of a wizard, and the Bitcoin-issued non-fungible token (NFT) has generated significant discussion.

Small Block Advocates Speak Out Against the 4 MB Bitcoin Block With NFT Inscription

On Feb. 1, 2023, the Luxor mining pool mined the largest block (#774,628) ever recorded on the Bitcoin network, approximately 3.96 MB. The coinbase parameter of the block contains a message indicating its discovery by Luxor. The mining pool also took to Twitter to inform the community about the discovery and the reason for the large size of the block.

“Last night, Luxor harnessed its magic energy and freed an ancient wizard from his cosmic cage where he had been trapped for many epochs,” the mining pool tweeted. “Keen observers of the chain of time may have noticed a 4 MB anomaly, unlike anything seen before. Will there be others?” The tweet also included an image of the “Taproot Wizard,” an Ordinal inscription #652, attached to the block. Taproot, a feature applied to the Bitcoin network on Nov. 12, 2021, was activated at block height 709,632 and brought several new benefits to BTC users.

Essentially, Taproot allows multiple participants in a transaction to create a single combined digital signature, making transactions more efficient and private. Since the creation of Ordinals, it has been discovered that using a Segregated Witness (Segwit) “discount” in combination with Taproot allows for a full block to be 4 MB in size, bypassing the 1 MB limit encoded in the Bitcoin blockchain. It was previously known that Segwit slightly increased block sizes, with the largest block before Luxor’s 3.96 MB being 2.765 MB (#748,918) mined on Aug. 11, 2022.

Concerns Raised Over Immutable Nature of Bitcoin and So-Called ‘Dangerous’ Content

Meanwhile, Ordinals were already controversial among some bitcoin maximalists, and the 4 MB block mined with only 63 transactions and a Wizard JPEG caused further upset. For instance, bitcoin developer Luke Dashjr, who called Ordinals an “attack,” quickly created a node patch to filter or censor Ordinal “spam.” “NOT a protocol change or soft fork/hard fork, just a harmless (if it works right) spam filter,” Dashjr wrote. “Also a quick hack and NOT suitable for opening a PR to Core – please write a proper fix for that.”

Many bitcoin advocates were dissatisfied with the record-breaking block size, and the topic was discussed on the Reddit forum r/bitcoin. The most upvoted comment in the thread read: “I would much rather see such a block full of real monetary transactions from thousands of people, instead of this idiocy.”

Another individual agreed with this opinion and argued that the Taproot scheme that produced a 4 MB block was dangerous. “Yeah … This is rather dangerous. We’re one bad actor or one automated miner away from cementing vile and disgusting things to a permanent, globally distributed, uncensorable database. It will be interesting to see if there is a free market solution to this.”

In addition to the stir caused by the Wizard-block Ordinal, an unsavory image was inscribed into inscription #668. Although the image was removed from the Ordinals website, it remains immutable and cannot be removed from the Bitcoin blockchain. Furthermore, a game, “DOOM,” was uploaded to the blockchain and can be found in inscription #466.

Some bitcoin advocates expressed dissatisfaction with the mining pool Luxor, which mined the 4 MB block. One person responded to Luxor’s tweet, saying, “There’s nothing revolutionary in what you did. You stuffed a nasty JPEG with zero artistic value into the blockchain. Okay…you could have crafted the same stupid image 10,000 times smaller. Why did you make it 4 MB? Because it’s mischief; you are trolls.”

NFT
Comments

All Comments

Recommended for you

  • Anthropic IPO Filing Warns of Risks from Trump Administration Retaliation

    On October 28, Bloomberg reported that in its IPO filing, Anthropic warned that its public advocacy for AI safety regulation and statements from executives could expose the company to risks such as government pressure and selective scrutiny. The document stated that even if other similarly situated companies are not treated equally, Anthropic could still become a target for specific government agencies, a risk associated with the company's multiple conflicts with the Trump administration: one stemming from disputes over the requirement for the U.S. Department of Defense to set safety limits when using its AI technology, and another related to disagreements over the safety and export controls of the Mythos model. The filing also indicated that future government interventions, export restrictions, and cybersecurity or biosafety incidents triggered by AI models could affect its product deployment, international expansion, and business growth. Furthermore, if the regulatory measures advocated by the company are implemented, compliance costs would rise, product development and release would be restricted, and its growth could slow down. Anthropic publicly submitted its S-1 filing on October 26, intending to list on Nasdaq under the ticker ANT.

  • AI Simulation System Sim Fed Previews October Rate Meeting: Seven Votes, Five for Pause

    On October 28, ahead of the Federal Reserve's upcoming interest rate decision, an AI simulation decision-making system called Sim Fed completed seven simulated votes: five opted to maintain the current interest rate, while two supported a rate hike, aligning closely with the market's mainstream expectation of a pause this week. The system was developed by Tara Sinclair, chair of the economics department at George Washington University, and Sophia Kazinnik, a research scientist at Stanford University's Digital Economy Lab. The two invested approximately a year and a half into the project, with a preliminary research paper set to be published by the end of 2025. Researchers clarified that the aforementioned votes are results of a simulation experiment and do not reflect the Federal Reserve's actual decisions; the real monetary policy decision is expected to be announced at 2 AM Beijing time on October 29.

  • Casap Completes $56 Million Series B Funding Led by Base10 Partners

    On October 28, Fortune reported that financial AI startup Casap announced the completion of $56 million in Series B funding, led by Base10 Partners, with Synchrony and Experian participating as strategic investors. The company's total funding has reached $90 million. Founded in 2023, Casap's AI tools assist banks and credit card companies in handling disputes and chargebacks. The company disclosed that clients using the tool have seen first-party fraud losses reduced by up to 51%, with chargeback win rates increasing to 96%, compared to the industry average of 60%. The average dispute resolution time has been shortened to 8 days, while traditional methods can take up to 90 days. The valuation for this round has not been disclosed.

  • Kalshi Plans to Tighten Deposit Restrictions for Users Under 21

    On October 28, Bloomberg reported that Kalshi CEO Tarek Mansour stated that the prediction market platform is discussing increased user protection measures with U.S. regulators due to research showing that most users are in a losing position. Kalshi is willing to accept raising the participation age threshold to 21 years. The specific measures include a monthly deposit limit of $2,500 for users under 21 and the establishment of special accounts to curb high-risk trading. Mansour noted that Kalshi is an exchange regulated by the U.S. Commodity Futures Trading Commission (CFTC) and does not directly act as a counterparty for user trades, with users' lost funds flowing to other traders. However, he also acknowledged the need for the platform to work with regulators to establish protective rules to address existing regulatory gaps.

  • Thailand's Supreme Court Rules Bitcoin as 'Property' under Criminal Law

    On October 28, Thailand's Supreme Court ruled in case No. 4929/2569 that Bitcoin constitutes 'property' in criminal cases. The case was brought by the Koh Samui Public Prosecutor against a defendant whose victim exchanged $50,000 (approximately 1.878 million Thai Baht) for Bitcoin and transferred it to a criminal gang. The court determined that the elements of property crime were established. The ruling stated that Bitcoin has value according to market conditions, can be exchanged for cash when there are buyers, and can be held by ordinary people, thus it is not an object of no value or intangible. Its value does not disappear simply because it is exchanged for Bitcoin instead of cash. The ruling also pointed out that the Bank of Thailand's position on cryptocurrencies not being legal tender is a separate issue from whether they constitute 'property'. The judgment referenced Article 137 of the Civil and Commercial Code and Sections 309(2), 340(1), and 340(3) of the Criminal Code.

  • Sun Yuchen-Linked Address Transfers $48.76 Million in PEPE in 17 Days, Realizing a Profit of Approximately $9.62 Million

    On October 28, according to on-chain analyst Ai Yi (@ai_9684xtpa), PEPE has surged over 14% in the last 24 hours, with its price returning above $0.000005. A wallet marked by Arkham as associated with Sun Yuchen has transferred a total of $48.76 million in PEPE since October 17, with a cost basis of approximately $0.000004115, currently realizing a profit of about $9.62 million. This batch of PEPE accounts for approximately 2.86% of the total supply, making this address the largest individual holder on-chain.

  • BTC Falls Below $81,000

    Market data shows that BTC has fallen below $81,000, currently priced at $80,990.32, with a 24-hour increase of 1.23%. The market is experiencing significant volatility, so please ensure proper risk management.

  • Anthropic Plans IPO Valuation of Up to $1.5 Trillion, Asian Investors Shift to Crypto Derivatives

    On October 28, Bloomberg reported that AI company Anthropic plans to go public with a valuation that could reach $1.5 trillion, and intends to invest approximately $800 billion in building computing infrastructure, benefiting companies like TSMC, SK Hynix, and Samsung Electronics. Due to strong subscription demand and related restrictions, it is challenging for Asian investors to participate directly, leading them to invest indirectly through crypto derivatives. OKX and Binance have launched perpetual contracts linked to Anthropic's valuation, while contracts on Hyperliquid's EntropyIO platform implied a valuation of about $1.88 trillion at one point. The report also noted that Anthropic's path to profitability remains uncertain, with high AI investment costs and intense industry competition, meaning such proxy investments could also be affected by factors from other industries.

  • Completion of 800 Billion Yuan New Policy Financial Instruments

    According to information from the China Development Bank, Export-Import Bank, and Agricultural Development Bank, as of October 28, the new policy financial instruments for 2026 have all been issued, totaling 800 billion yuan. Among these, the China Development Bank issued 365 billion yuan, the Export-Import Bank issued 120 billion yuan, and the Agricultural Development Bank issued 315 billion yuan. (Xinhua News Agency)

  • Iran: Qatar Has Not Proposed New Plan to End Hostilities with the U.S.

    On October 28, according to Reuters: A senior Iranian official stated that Qatar has not proposed a new plan to end hostilities with the U.S. Several ideas put forward by Qatar are unacceptable to Iran. Iran's uncompromising policy on nuclear issues remains unchanged.