A projectile will only transfer its energy if and only if the target offers enough resistance to cause the projectile to transfer it's energy to the target. The reason that you had clean pass throughs with no apparent reaction from the target is the simple laws of intertia. The bullet is a small projectile moving at a very, very high velocity. The bottle in this case is a thin-walled target that is stationary. The law of inertia says that objects in motion want to stay in motion, and objects at rest want to stay at rest. Your bullet encountered a stationary object that did not provide sufficient resistance to have a visible effect on the bottle OR the bullet. The bullet did not "burn through the bottle because of heat generated by the incredible rpm's of the bullet" Sorry Qaz, you're incorrect in this statement. The dollar bill example was another example of intertia explained a different way. The reason that this changes when we fill the bottle with water is that when liquids are impacted at a high velocity, the liquid's viscosity (thickness for a simple explanation) sky-rockets and resists the bullet passing through it, thus resulting in an explosion caused by transfer of energy. Energy is mass x velocity squared. Two projectiles can have the same amount of energy, even if they're vastly different in weight, as long as the lighter projectile is moving much, much faster, because it gains its energy from the velocity squared side of the equation. A heavier, slower bullet will retain its energy better because it gains its energy from the mass side of the equation, which is going to stay relatively constant, even on impact. The lighter bullet has mass that breaks up on impact and slows down, therefore transferring its energy into the target, whereas the heavy bullet keeps on going. This is the basis of the Taylor Knock-Out formula as I understand it, and it makes sense to me. A .204 Ruger bullet might have less energy than a 300 gr. .45 caliber bullet at 1600 fps, but creates a more visual impact because the .45 caliber bullet has more mass and will pass through and retain more energy on the other side, where as the highly frangible light bullet transfers the majority of its energy to the liquid, thus resulting in a highly pleasing visual effect. Yes folks, it is fairly simple physics, I learned it in high school...
selmer