‘Bitcoin Stackchain’ Exceeds $160K in a Single Week
A Bitcoin community-driven meme packed quite the punch as a chain of Bitcoin buys have stacked over $160,000 or approximately 7 BTC within less than seven days in what is called, a “stackchain.”
Here is the original tweet from @AriZonanHODL:
Bitcoiners from around the world supported the movement as the community began stacking sats in increments of $1.00 per stackchain block. $5.00 quickly became $6.00, $7.00, etc, and has achieved a cumulative total of over $160,000.
What once started as a bit of fun in a bear market, superseded all expectations as ArizonanHODL had expected the interest to dwindle as the chain approached the original goal of $10,000.
“At that point, I thought people might think the goal had been reached and lose interest, but the exact opposite happened. Plebs started to FOMO into the stackchain,” ArizonanHODL wrote.
By the end of the weekend, the stackchain surpassed a whopping cumulative $150,000. Each additional “stack” is now worth over half a grand as the stackchain caught the attention of Bitcoiners around the world.
Maintaining the stackchain is serious business. The stackchain core developers - a play on words with Bitcoin core developers - keep the stackchain in line. A telegram group of stackchainers called the Lightstack Network, keeps the stackchain functioning and in good spirits by sharing memes.
@derekmross provides more details on how to get involved:
The telegram group works diligently to avoid forking a stackchain. If the Twitter thread splits off and a stacker “double spends,” the forked stack can disrupt the orderly flow of the continuation of stacks and must be merged with the main chain and validated by “nodes.”
The stackchain Twitter thread has become so congested that reportedly Twitter servers are struggling to keep up with the 1000-thread-long load.
“I stack for so many reasons. I stack for fun. I stack for my mental health. I stack for my future. I stack for my kids. I stack to defy central authority,” says ArizonanHODL who does not just stack for the money. He and many participants of the stackchain share similar sentiments and are unbothered by recent bearish price action.
At the time of writing, the cost to “mine” on the stackchain now approaches $600.