(@dannydiekroeger)

I'm pretty sure #MagicEden has pulled one of the most hilarious finesse moves on #Coinbase I've ever seen

Basically for every marketplace purchase on Magic Eden, they include a tiny output for the marketplace fee. These are typically tiny outputs, 1000 sats, 2000 sats, etc. A pain in the butt to consolidate some day. Each of these costs money to spend.

The genius move is that instead of using their own address to receive these #utxos , they are using their Coinbase account address. So all these deposits just get credited to Magic Eden's Coinbase account, and Coinbase is responsible for paying the fees to consolidate them

🤣

And of course Coinbase is too big and clunky to really have a clue of what's going on, so they are not being smart about consolidating these, and losing hella money on fees. I think @MoonOverlord has been tweeting about this.