The First Liquid Pepe

rare pepes Sep 2, 2021

(You are gonna need some music for this)

First we need a burn address. For what is magic without fire?

1stLiquidPepexxxxxxxxxxxxxxumd9b8

Then we need an effegy. A symbol of our will.

Sprinkle some crypto dust and produce a unique hash.

668966b76da51cce91a1fb987ec69a8fa59083fc36db1bb85dd64208eb228f7f

Choose a destination. This is a teleportation spell, after all.

b034b90981cb64dc58e0b92652256528c1056672e8e5338d60351fe3f140d090

We also need a medium to traverse through. A bridge between worlds.

QmZc3xov18MtcRRZcSNpNnvW4KsDAR1cH3J7Rg4RNvW9Rj

And finally, the pepe, brave as the best of men, goes through the portal with the blessing of his maker.

Say some magic words...

ABRA KADABRA TELEPORT PEPE!

And there you have it folks! The first Rare Pepe on the Liquid network.

Get it at Raretoshi.com.

(You can buy Liquid BTC "LBTC" with Bitcoin using this atomc swap service)
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So what tha hell did I just read?


Well. I just sent the first Rare Pepe NFT to the Liquid network, traversing through a black hole of Bitcoin magic, from the Counterparty protocol.

Why? Cuz why not!

Liquid is sort of a Bitcoin side chain, it is faster and more private than Bitcoin while standing on Bitcoin's proof of work security. It also doesn't pretend to be decentralized like other blockchain platforms out there, and the fees are about as low as it gets.

It is a great place for NFTs and has a block explorer of it's own.

Why do you think this rare pepe is now on Liquid? Didn't you just mint a new thing?

Nop! Here's why.

First, I own the specific unit of PEPETHUGLIFE which just traversed the metaverse.

The fact that I sent it from the Issuing Address of PEPTHUGLIFE NFTs, way back in the day, is just a cherry ontop.

If I didn't own the PEPETHUGLIFE I sent, despite being the artist, then this would be a fresh mint.

Instead the pepe ceased to exist in Counterparty and appeared in Liquid.

The Effegy

I signed a transaction and sent it to a unique burn address authenticating the pepe GIF file. The hash was created with Open Time Stamps, where you can verify it.

The Medium

I signed and sent a transaction to the burn address with the IPFS hash that the PEPETHUGLIFE lives in.

The Destination

I also published the Asset ID of the PEPETHUGLIFE NFT on Liquid to the Bitcoin blockchain. I did this via a transaction from the issuing address to the burn address. This is to leave no doubt as to the unique path this PEPETHUGLIFE is taking.

Other NFTs minted on Liquid will have different, unique Asset IDs.

This Liquid asset is a 1 of 1. A direct echo to the 1 PEPETHUGLIFE sent to the burn address.

The Portal

The burn address chosen as a portal to Liquid is unique and meant to be just for this pepe, as the first.

There is no private key to this public address as observable by the many x's on the address.

1stLiquidPepexxxxxxxxxxxxxxumd9b8

The odds of someone guessing the private key to this address and being able to undue this burn are as good as guessing any other Bitcoin private keys. Null.

The odds are in fact worse, given that the private key for it has never even been processed by a computer. This public address was created as is, not generated from a private key as other public keys are. The private key effectively does not exist.

So what goes there, never comes back.

I used this tool.

The Journey

Last but not least, I sent the pepe.

Valued at over 7k USD by Xchain.io, it last traded as high as 4.2 ETH on Opensea, or about 12k USD at the time.

This transaction once done can not be undone. That unit of PEPETHUGLIFE has jumped into the void.

This very brave and special PEPETHUGLIFE is now able to move and be traded on Liquid, with a direct tie to its life on the previous side chain - the Counterparty protocol (Also a Bitcoin sidechain).

I believe that makes for a successful teleportation across protocols, don't you?

Although it's probably a one way trip.

Is there better way to do this? maybe. But that's what we did.

The pepe is now on auction starting at 0.21 btc. Let's see what happens now!

(You can buy LBTC with Bitcoin using this atomc swap service)

Special thanks to all the magicians that helped make this possible.

Hash you later.

Juan Galt.


Tags

Juan Galt

Teaching You How To #Bitcoin since 2014.

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