A UTXHOE is a play on the bitcoin technical term a UTXO, which in Bitcoin refers to an unspent transaction output. While a UTXO refers to the coins currently in your possession on chain, a UTXHOE is someone looking to secure your coins for themselves through one or other method of grifting.
This could be through pretending to like bitcoin and trying to infiltrate popular bitcoin circles to try and gain attention from plebs, or try to attach themselves to public bitcoiners, thinking they can use nepotism to secure themselves a steady stream of sats.
Think of it similar to the fiat term gold digger but applying it to the bitcoin space. As more bitcoiners become wealthy it’s only natural that others would look to them as potential honey pots that they can extort without having to acquire bitcoin themselves through proof of work.
There will always be someone with paper hands willing to give up their bitcoin for low time preference vices and UTXHOE’s are looking to benefit from those weak handed bitcoin holders.
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