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 the chain, a UTXHOE is someone who seeks to secure your coins for themselves through a method of dogging.

It can be pretending to like bitcoin and trying to infiltrate popular bitcoin circles in an attempt to get the attention of the plebs, or trying to get attached to public bitcoiners, by thinking they can use nepotism to ensure a constant flow of sats.

Think of it like the fiat futures gold digger, but applying it to the bitcoin space. As more and more bitcoiners get rich, it’s only natural that others see them as potential honeypots that they can extort without having to acquire bitcoins themselves through proof of work. .

There will always be someone with paper hands ready to give up their bitcoin for low time preference vices and UTXHOEs will look to take advantage of these weak bitcoin holders.