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Following the 21 coinbase rewards of 2010 spent on November 7, another long streak of “ sleeping bitcoins ” mined ten years ago was transferred on Sunday morning. According to data online, the 20 block rewards of 2010 with 1000 BTC were transferred at 4:02 a.m. EST.
A ton of “ zombie coins ” was moved in 2020, after sitting idle for over ten years. Zombie coins or so-called “ sleeping bitcoins ” are a lot of old addresses with block rewards that were never spent. Estimates believe that there are around 1.5 to 2 million sleeping Bitcoins sitting in addresses and the coins have never budged. Much of the dormant bitcoin stash is believed to be Satoshi Nakamoto’s, as he / she is believed to have mined around 700k to 1.1 million BTC.
It is very unusual to spend the coinbase rewards of 2010, but in 2020 there has been a large number of sightings. Sunday morning at around 4:02 am EST, after news.Bitcoin.com reported the 21 blocks of 2010 passed on Saturday morning, 20 more rewards were transferred. The 20 coinbase awards all moved to a block height of 655,943 and again all the action was captured by the researchers at Btcparser.com.
Similar to the spending pattern for Saturday, November 7, coins spent on Sunday also saw the corresponding bitcoin cash (BCH). Blockchain Explorer’s data also shows that the corresponding coinbase bitcoinsv (BSV) rewards were not spent.
The move on Sunday morning at 4 a.m. was an additional $ 15.5 million in block rewards of bitcoin ten years ago. In 2010, the block reward for miners finding a block was around 50 BTC per reward. All of the 2010 Block Rewards funds were sent to an address on Sunday morning, and readers of news.Bitcoin.com can see the address here.
** Update – Following the posting of this editorial on November 8, 2020 at around 1:03 p.m. EST, the owner has split the stash of 1000 Bitcoin (BTC) into multiple outlets. **
The blockchain explorer Blockchair shows that unlike previous 2010 spending rounds on Saturday October 11 and March 11, Sunday’s spending had no privacy. Yesterday’s spend on Blockchair’s Privacy-o-Meter had a privacy score of 100%, while Sunday’s 2010 spend had a score of zero. Data from Blockchair today shows that the funds were all consolidated into one address, and there was co-spending and sweeping.
Another similarity to the 2010 Sunday spending compared to yesterday’s channel is that all coinbase rewards came from August, September, and October 2010.
Speaking to a researcher at Btcparser.com, the analyst noted that “whales are sort of retail training.” The Btcparser.com analyst said the parts could have been sent to an exchange, but are also still inactive and pending. “So, not everyone may see a clear link between the wake-up call and the price correction,” he said.
The analyst added:
People may start to speculate that 1,000 of the oldest bitcoins could cause prices to drop… But what could 10,000 bitcoins do?
In addition to analyzed data from Btcparser.com and a variety of blockchain explorers, theholyroger.com’s the “(Not) ‘Satoshi’s Bags’ Tracker” also shows a visual perspective of older coins spent this weekend Saturday. and Sunday morning. .
People also often ask how many miners besides Satoshi mined bitcoin during this time. Old social media posts and forums show that at this time in 2010 there were a lot of minors, maybe hundreds and maybe even over a thousand minors.
During the summer months of 2010, specifically in July, it was a time of transition between CPU and GPU bitcoin miners. For example, the pseudonym Artforz first appeared on Bitcointalk.org in July 2010, and at times it has claimed to have control over more than a quarter of the global hashrate. He was a regularly seen developer for quite some time in the early days of Bitcoin.
Additionally, Laszlo Hanyecz, the man who traded 10,000 BTC for two pizzas, actually mined bitcoin by GPU two months before Artforz. However, Artforz is known for the first GPU farm known as “Artfarm”. Artforz’s farm consisted of 24 Radeon 5970s in the summer of 2010. It also claimed to have mined 1,700 BTC in six days. In addition, in October it was also claimed that Artforz has around 20-30% of the computing power of the Bitcoin network.
What do you think of the 20 blocks of 2010 transferred Sunday morning November 8 after the transfer yesterday? Let us know what you think of this story in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons, Btcparser.com, Bitcoin.com, Holyroger.com,
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