To execute what amounted to a no-op on the EVM global computer, this individual deployed this [1] smart contract, and then ran it [2].
The compute cost involved, measured in so-called gas fees, were 0.496 ETH for the contract deployment, and 0.197 ETH for the execution, around $3,000 USD total.
Transaction fees are through the roof. To buy 0.025 ETH (~$110 USD) worth of SHIB tokens, the memecoin de jour, I'd have to pay an equal amount in gas fees. Yes, 100% transaction fee. Buying $20 worth is completely out of the question.
Well, I'm not surprised at all. I mean, have you ever seen the price of Bitcoin? I know that it's not more than $532M, but still. I think NFT can be more valuable than cryptocurrency since it's a piece of art. I mean, personally, I'd never spend so much money on a token, my maximum is a card from myimpactpower. But I guess there are some people that don't care about money that much, and I'm confident that they're the same people who can buy a picture of a few splashes of paint for millions of dollars.
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[ 3.0 ms ] story [ 28.2 ms ] threadit's much more likely that this was a practical joke, or an attempt to turn punk #9998 into a meme
The compute cost involved, measured in so-called gas fees, were 0.496 ETH for the contract deployment, and 0.197 ETH for the execution, around $3,000 USD total.
Transaction fees are through the roof. To buy 0.025 ETH (~$110 USD) worth of SHIB tokens, the memecoin de jour, I'd have to pay an equal amount in gas fees. Yes, 100% transaction fee. Buying $20 worth is completely out of the question.
[1]: https://etherscan.io/address/0x9b5a5c5800c91af9c965b3bf06ad2...
[2]: https://etherscan.io/tx/0x92488a00dfa0746c300c66a716e6cc11ba...