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On Saturday February 27, 2021, news.Bitcoin.com reported the large number of 2010 and 2011 Block Rewards spent this year. In that report, it was said that the mysterious whale entity we were hunting “hadn’t moved a major bitcoin chain” since January 25. block rewards from 2010 because 1000 bitcoins that have been inactive for over a decade have been spent.
9,000 ten-year-old Bitcoins spent since March 11, 2020
As of mid-March, news.Bitcoin.com has been on the trail of an old-fashioned bitcoin (BTC) miner who spent large chains of block rewards from 2010. A block reward is an incentive that a bitcoin miner gets to find a block on the Bitcoin blockchain and before 2012 all rewards were 50 BTC per block. Also, the technical term “spend” or “spend” simply means that the owner has moved the coins, but it does not necessarily mean that the bitcoins have been “sold” to another owner.
Our Saturday report showed that 80 Block Rewards from 2010 had been spent this year. Interestingly, 40 block rewards from the days of 2011 were also spent in 2021. On Sunday February 28, 2021, following our last report, the whale miner again spent another 20 block rewards from 2010 up to par. block of 672,501. It is assumed that the mysterious miner is seeking attention.
Our last study also mentioned the mega-whale or group of whales that have spent those 2010 blocks in chains of 20 blocks per transfer since mid-March. Our team alongside researchers from Btcparser.com and Russian blockchain researcher Issak Shvarts discovered a total of 9 spending chains as of 2010.
All the chains use the exact same spending pattern in concessions of 20 consecutive ten-year-old blocks. 20 block rewards chains of 2010 took place on March 11, 2020, October 11, November 7, November 8, December 27, January 3, 2021 (Bitcoin anniversary), January 10, January 25 and today (Sunday February 28, 2021) as well as.
This adds up to 180 block rewards and each of them contained 50 BTC per block. The person (s) always consolidate the bitcoins into a single BTC address, and then the coins are subsequently dispersed into fractions. Usually all depleted blockchains are from July 2010 to November 2010, and the coinbase dates are always the same months.
Block explorer oxt.me also shows that Whale 2010’s spending habits are still the same. A researcher discussing the topic with our news service said yesterday: “Maybe they have a special application, a script, which is not really flexible and can only get 20 private keys at a time, but a list of receiving addresses. “
Either spending solutions are not flexible or the whale flexes and demands attention
Blockchair’s privacy-o-meter shows that the first spend of the mystery miner is still sensitive to heuristics and transaction tracing tools. The 2010 channel spend still has a “rare fingerprint”, “co-spend”, “same input address” and “scan” techniques.
After the first consolidation, transactions “ disappear ” from here and privacy is increased from 0 to 100 points according to Blockchair statistics. Issak Shvarts believes that many chains from 2010 that followed the exact same spending pattern were likely sold on the San Francisco-based Coinbase exchange.
In addition, with the exception of the specific expenditure of ten years in mid-March 2020, the mysterious miner (s) always also spend the corresponding bitcoin cash (BCH). In addition, the mining entity never moves the corresponding bitcoin (BSV) except for the one time on March 11.
Either way, the old school whale or the whales spending the strings of the 2010 Bulk Rewards seem to want to grab some attention. Unless the whale is forced to use an inflexible spending script or weird spending habits, so far we’ve inferred that the whale is a demonstration and really wants to get the public’s attention. .
It is quite a coincidence that after our information office wrote, “So far this particular entity or entities have not moved a major bitcoin chain since” yesterday, then the whale passes a another chain of 20 block rewards from 2010 (1000 BTC). We also know that on October 11, the entity or entities sent 9.99999943 BTC (worth $ 114,000 at the time) to the Free Software Foundation and another 9.999 BTC to the American Institute for Economic Research (AIER).
To date, the Whale has spent around 180 ten-year-old block rewards, which is roughly 9,000 BTC. That’s over $ 400 million worth of bitcoin using Sunday February 28, 2021 exchange rates.
What do you think of the 9,000 bitcoins of 2010 spent since March 11, 2020? Let us know what you think of this topic in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons, theholyroger.com/satoshi-bags-tracker, Btcparser.com,
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