• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets
lightning network auction

Lightning Network Milestone: ‘Micro-Auction’ Art Piece Sells for $0.000000037

Georgi Georgiev
by Georgi Georgiev
6 years ago
·
Posted in Bitcoin Technology, Bitcoin, Bitcoin Community, News, News teaser
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

A ‘Black Swan’ art piece by Cryptograffiti has auctioned to the lowest bidder for a milli-satoshi or just $0.000000037 thanks to the Bitcoin Lightning Network, making the winning likely the world’s cheapest auction. 


The ‘Black Swan’

A Reddit user going by the name Cryptograffiti shared his story of creating and auctioning a tiny piece of art called “Black Swan.”

Black swan

The piece is exactly what you would expect it to be – a black swan sitting next to what seems to be a pond of leaves. Interestingly enough, though, the artist only used pieces from a fiat dollar bill and counterfeit detector pen ink to create the piece.

Its dimensions are impressively tiny. The piece measures 1.44 in x 1.75 in (3.55 cm x 4.44 cm).

More interestingly, though, was the way the artist decided to sell the piece. Cryptograffiti explained:

Yesterday I auctioned this piece to the lowest bidder to help promote the lightning network and poke fun at MSM’s focus on Bitcoin’s price.

And so, the piece has been sold for 1 milli-satoshi or $0.000000037 through the Lightning Network, which makes it possible to send a fraction of a Satoshi, the lowest possible amount that could be transferred otherwise on the Bitcoin blockchain.

Many Reddit users immediately recognized the significance of this milestone as it is possibly the world’s cheapest auction ever to be held.

Lightning Network’s Potential

Cryptograffiti also shares his excitement for a future time where micropayments are possible and omnipresent.

I’m excited about a future where micropayments are omnipresent. Artists paid by the view…writers by the poem…musicians by the listen. Everyday interactions complemented by positive monetary reinforcement such as tipping someone who let you merge into traffic. […] Hopefully, this micro auction inspires others to think big about the future of Bitcoin. – He writes.

The artist has his own online merchandise store where users can purchase all kinds of crypto-related designs from t-shirts to mugs. In an interview for Bitcoinist, Cryptograffity explained the inspiration for his artwork, saying:

Well my art, as well the merch, is all about spreading the movement…awareness. I see each shirt as little mini billboards. And I think it’s important to bring a little humor into the mix even with something as important and disruptive as cryptocurrency/blockchain.

This isn’t the first instance of showcasing the capabilities of the Lightning Network to successfully carry out microtransactions.

In June, Bitcoinist reported on the release of a new platform called Poketoshi which enables users to play the popular Pokémon game, paying 10 Satoshi per move ($0.00040447). Before that, creative developers allowed users to paint on a digital canvas called Satoshi’s Place. It’s comprised of 1 million pixels, each one of which cost 1 satoshi to paint.

Do you like the art piece? Will Lightning network change the way users interact and trade online? Share your thoughts below! 


Images courtesy of Shutterstock

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Georgi Georgiev

Georgi Georgiev

Follow

Full Profile

Related Posts

นักลงทุนฉลองในห้องโถงอนาคต ท่ามกลางรูปปั้น Bitcoin

Bitcoin แกว่งใกล้ 121K ดอลลาร์ นักลงทุนลุ้นเงินกองทุนไหลเข้าอาจหนุนราคาทะลุแนวต้านสู่ 130K

1 hour ago
Square

Square Pushes Bitcoin Adoption Further With Merchant Payment Solutions

11 hours ago
Цифровой рубль

ЕС готовит санкции против рублевого стейблкоина A7A5

17 hours ago
Luksemburg inwestuje w Bitcoina

Luksemburg inwestuje w Bitcoina przez fundusz państwowy

17 hours ago
BNB

Сезон мемкоинов на BNB набирает обороты

20 hours ago
Bitcoin

Bitcoin Is The Standard Now: Outperform It, Or Get Left Behind – CEO

1 day ago
Please login to join discussion

Premium Sponsors

Press Releases

  • Maxi Doge นักสู้เหรียญมีมยืนโพสท่าในสังเวียนมวย

    Binance-Peg DOGE นำโด่ง Top 11...

    23 hours ago
  • Find Out Why Whales are Rushing to Buy Bitcoin Hyper’s $22M Presale—Plus, Our $HYPER Price Prediction.

    Find Out Why Whales are Rushing to Buy Bitcoin Hyper’s...

    24 hours ago
  • ...

    2 days ago
  • Your Chance to Win Up to 10% Deposit Bonus and Up to 21K $USDT Bonus Prizes at KCEX

    Your Chance to Win Up to 10% Deposit Bonus and Up to 21K...

    2 days ago
  • 分析師稱 FARTCOIN 有望暴漲...

    2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.