As a reminder, Bitcoin’s capabilities are quite limited, as the blockchain essentially allows only to transfer and receive BTC. Yes, there is a second-tier Lightning Network based on the main blockchain for faster and cheaper payments, but that doesn’t change the overall picture.

That’s why the various flash mobs of BTC fans are usually pretty straightforward. However, this does not prevent them from becoming popular within the Bitcoin community, which is quite massive.

Dorian Nakamoto, often portrayed as Bitcoin creator Satoshi Nakamoto

A similar thing happened this time too.

How does bitcoin buying work?

The initiative was born after a cryptocurrency enthusiast under the nickname AriZonanHODL announced on Twitter that he was investing $5 in BTC and invited others to join him. The idea was that this user would buy bitcoins, even when his financial situation is not at all conducive to it. Here is the very tweet that started it all.

In the comments, there were some willing BTC buyers for $5 and a bit more. Thus, a chain of consecutive cryptocurrency purchases or a separate “blockchain” began to form, where each following participant “finds the block” by buying BTC for a dollar more than the previous one.

So in essence, Bitcoin fans have combined business with pleasure. They replenish their own cryptocurrency holdings with relatively small amounts, while also having fun while networking with other digital asset enthusiasts.

Shopping at Stackchain

One of the main conditions in this initiative is to support the formation of the Stackchain “blockchain” by using the hashtag #StackchainTip on Twitter. Users can use it to find the current “blockchain height”, i.e. the last value of a BTC purchase in the chain. After a purchase, a Stackchain participant must post a screenshot of the transaction to confirm that the “task” has been completed.

In total, participants of the movement have two options – either to redeem the “block” themselves, i.e. to invest a dollar more than their predecessor, or to join the “block quest” with other investors by buying the required amount of cryptocurrency together with someone else. The hashtag #Stackjoin has been invented for this purpose.

The rise in the height of “blocks” in Stackchain

According to Cointelegraph sources, AriZonanHODL initially set a goal of a total of $10,000 for the value of the Stackchain “blockchain,” but within a couple of days, members of the movement had already bought an entire bitcoin, which means they spent around $22,000. At the same time, the chain of transactions continues to grow.

Here’s a rejoinder from a BTC enthusiast, in which he shares his emotions about what’s happening.

I thought people would reach the target and lose interest in the trend, but something quite different happened. Cryptans started to fight for a place in Stackchain!

In other words, the trend has become extremely popular. Understanding the reasons for what is happening is quite simple. Firstly, many investors are actively using a dollar-value averaging strategy, which involves regular purchases of coins for a certain amount. Second, the same Bitcoin is now 69 per cent behind its peak rate, which can be characterised as a relatively bargain price.

The first purchase in the Stackchain

By the beginning of this week, the total value of investments on Stackchain has reached $150,000. Soon the community will reach the thousandth “block” in the transaction chain, which means that one-time investments will become four-figure. Consequently, there will be fewer people able to invest such amounts over time.

As a reminder, there have been quite a few interesting trends in the cryptocurrency community in the past. One of them is the Lightning torch transfer, which was a hit during the previous bearish trend. Basically, it was about transferring transactions through the Lightning Network's relay chain, to which each participant added 10 thousand satoshis, or 34 cents at the time. The value of the "cryptofacet" then managed to grow to hundreds of dollars. However, it was also stolen, meaning that some unscrupulous participants of the blockchain community took the amount for themselves.

The Olympic torch


We believe that such flash mobs are useful for the cryptocurrency industry. First of all, they allow cryptocurrency enthusiasts to find like-minded people and thus survive a bearish trend more easily. In addition, coin enthusiasts themselves increase their own cryptocurrency holdings, which is sure to have a positive impact on their fortunes going forward. Finally, such ideas also somehow make the coin niche more popular, even among those who for some reason are still unfamiliar with it.