This is an opinion editorial by Mason Price, an up-and-coming writer, meme creator, and aspiring writer.
This article was originally posted here.
Stackheight 1762
Almost two months before he deleted his account, @ArizonanHODL tweeted a modest screenshot of a $5 Bitcoin purchase. Any normal person, and by “normal” I mean not a dark psycho tetrad Bitcoin fanatic, wouldn’t have batted an eye, but those of us familiar with Bitcoin Twitter know that the community, like Bitcoin itself, is unstoppable. strength even through a bear market. Such was the case with @ArizonanHODL’s tweet, which spawned a new Bitcoin subculture filled with stacking sats and making memes.
@ArizonanHODL canceled his account when the Stackchain genesis blog got 669 likes. A bittersweet conclusion.
What is The Stackchain?
The Stackchain is the gamification of stacking sats with your fellow Bitcoiners. It all takes place in a single Twitter thread consisting of screenshots of bitcoin purchases called “blogs”. Each block is $1 more than the previous one and the last block, known as a “tip”, can be found by searching for the hashtag #stackchaintip and sorting by most recent.
@7noBodywins (formerly @satskeeper)
The story goes like this: @ArizonanHodl posts his $5 bitcoin purchase, @Happyclowntime aka Bob followed it up with a $6 purchase and Satskeeper followed Bob’s with a $7 purchase. You can see where this is going and so did Bitcoin twitter. In a matter of weeks, the Stackchain had attracted 400 unique plebs to stack on the Stackchain. The $1 incremental purchases have continued with no end in sight.
Stackchain achievements
Many people have speculated that Stackchain is the biggest thread on Twitter and this is not the only crazy statistic for Stackchain. In eight weeks, Stackchain participants went from having bought just $5 worth of bitcoins to accumulating $1.5 million worth of bitcoins, or in bitcoin terms, from accumulating a few thousand sats to over 7, 5 million billion sats (75 bitcoins).
Not only do Stackchainers have an undeniable goal of growing their stacks, they also aim to encourage Bitcoin adoption. Coordinating fundraising for Bitcoin-related initiatives is closely aligned with this goal. Here are some of the projects Stackchain has donated to:
- Stacks For Bitcoin Beach – An initiative where Stackchainers raised over $6,000 to help fund Bitcoin education in El Salvador.
Link to embedded tweets one i two.
- The Flashstack For Bitcoin Ekasi: Donations funded the purchase of ~30 phones for children in an African township so they could have the opportunity to learn about Bitcoin by working and earning Bitcoin rewards.
- Flashstack for Hodlonaut: Stackchainers raised several thousand dollars with the tag #Stacks4Hodlonaut to help fund Hodlonaut in his legal battle against Craig Wright, aka Faketoshi.
Stackchain Rules and Improvement Proposals (SIP)
The Stackchain ruleset continues to grow. For a deeper dive into the Stackchain ruleset and applications, check out our GitHub here.
Three important Stackchain components to remember:
- Stackjoins
A stackjoin is when multiple people combine their Bitcoin purchases so that the sum of all purchases equals the height of the stack. As an example, let’s say the stack height is $500. 5 people can stack $100 each and include all purchases in link and/or photo form on the blog attached to the stack. Tag your Bitcoin purchase #stackjoin and it will be added to the stackjoin mempool. It can be as little as $1. - Solo blogs
This is when someone buys the entire block. To do this, search for Stackchain tip and comment the previous purchase amount +1$ directly to the tip. - forks
This happens when two or more people stack the same block creating a chain split. These forks can go on for several blocks as the Stackers fight over which fork should win. This was the case for many blocks including blocks 888, 1492 and the three forks that are currently being resolved.
Stackchain whales have been a great help in increasing stack height and leaderboards have been a fun way to gamify stacking sats. From the leaderboards, we can see that stackjoins have become an increasingly large contributor to increasing stack height. They have steadily grown to become the largest site on the leaderboards and are expected to continue to do so as blogs become more expensive.
Stackjoins is tied for third on the block count leaderboard and ranks fourth on the cuckbucks burned leaderboard
The Stackchain timeline
Blocks stacked per day and Bitcoin purchased per day
In memory of our beloved Twitter account @ArizonanHODL.
This is a guest post by Mason Price. The opinions expressed are entirely my own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.
