Transaction 5d80a29be1609db91658b401f85921a86ab4755969729b65257651bb9fd2c10d

Block #124724

2011-05-18 00:21:36 +0000 UTC (~13 years, 3 months ago)

BTC Burned: 🔥0.01000001 BTC🔥

Inputs

Coinbase: 04b3936a1a0169

Outputs

410400dedf030bbbb923bd131181fc50df8f61d809e3d3b3c25b0169707183deecb07768f19180e2d8a96945b7366344ea18eae701f22e906350c044c4636c94bea1ac

0400dedf030bbbb923bd131181fc50df8f61d809e3d3b3c25b0169707183deecb07768f19180e2d8a96945b7366344ea18eae701f22e906350c044c4636c94bea1 OP_CHECKSIG pubkey

How did this transaction burn BTC?

Block 124724 - Mining Subsidy Loss

After block 124724 was mined with a subsidy 0.01000001 less than the permitted 50 BTC block subsidy + 0.01 BTC in fees, bitcointalk user midnightmagic claimed¹ it was semi-intentional.

As per the post, the intention was to claim 1 satoshi less than the permitted subsidy, as a nod to Satoshi’s departure from public view. This would result in Bitcoin’s supply permanently missing a Satoshi, just like the world was missing Satoshi Nakamoto.

However, the script used to generate the block also forgoed the fees, resulting in a 0.01000001 BTC loss.

https://bitcointalk.org/index.php?topic=7253.msg184414#msg184414

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Coinbase Reward Loss

For a variety of reasons, some blocks do not claim their full block reward.

The Bitcoin Protocol and reference Bitcoin Core implementation only require that the sum of all outputs in the coinbase transaction are less than or equal to block subsidy + transaction fees for that block. They don’t require that all of this entitlement is claimed by the miner.

Over the years, numerous misconfigurations and bugs in the systems used by miners to generate block templates have resulted in under-claiming of the block reward. Not only is this a loss to the miner, but it also reduces the total supply of Bitcoin that will ever be mined. There is no mechanism to claim unclaimed rewards after the block in which they were supposed to be claimed.

On rarer occasions, bugs in the reference implementation itself have led to losses - notably, the Genesis Block, Block 91722, and Block 91812 block rewards were claimed but destroyed due to bugs in the Bitcoin Core implementation at that time.

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Raw Transaction

{
  "txid": "5d80a29be1609db91658b401f85921a86ab4755969729b65257651bb9fd2c10d",
  "hash": "5d80a29be1609db91658b401f85921a86ab4755969729b65257651bb9fd2c10d",
  "version": 1,
  "size": 134,
  "vsize": 134,
  "weight": 536,
  "locktime": 0,
  "vin": [
    {
      "txid": "",
      "vout": 0,
      "scriptSig": {
        "asm": "",
        "hex": ""
      },
      "prevout": {
        "generated": false,
        "height": 0,
        "value": "",
        "scriptPubKey": {
          "asm": "",
          "desc": "",
          "hex": "",
          "type": ""
        }
      },
      "coinbase": "04b3936a1a0169",
      "sequence": 4294967295
    }
  ],
  "vout": [
    {
      "value": "49.99999999",
      "n": 0,
      "scriptPubKey": {
        "asm": "0400dedf030bbbb923bd131181fc50df8f61d809e3d3b3c25b0169707183deecb07768f19180e2d8a96945b7366344ea18eae701f22e906350c044c4636c94bea1 OP_CHECKSIG",
        "desc": "pk(0400dedf030bbbb923bd131181fc50df8f61d809e3d3b3c25b0169707183deecb07768f19180e2d8a96945b7366344ea18eae701f22e906350c044c4636c94bea1)#7usn7szk",
        "hex": "410400dedf030bbbb923bd131181fc50df8f61d809e3d3b3c25b0169707183deecb07768f19180e2d8a96945b7366344ea18eae701f22e906350c044c4636c94bea1ac",
        "type": "pubkey"
      }
    }
  ],
  "fee": "",
  "hex": "01000000010000000000000000000000000000000000000000000000000000000000000000ffffffff0704b3936a1a0169ffffffff01fff1052a0100000043410400dedf030bbbb923bd131181fc50df8f61d809e3d3b3c25b0169707183deecb07768f19180e2d8a96945b7366344ea18eae701f22e906350c044c4636c94bea1ac00000000"
}