On Saturday, February 27, 2021, news.Bitcoin.com reported on the large amount of 2010 and 2011 block rewards spent this year. In the report, it is said that since January 25, the mysterious whale entity we have been looking for “has not moved the main Bitcoin.” After the research report was published, the old whale miner moved another 20 whales on Sunday. Since 2010, blockchain rewards have been applied because 1,000 bitcoins that have been idle for more than a decade have been spent.
9,000 decade-old Bitcoins have been used since March 11, 2020
Since mid-March, news.Bitcoin.com has been looking for an old Bitcoin (BTC) miner who has been spending a lot of 2010 block rewards. Block rewards are rewards for Bitcoin miners to find blocks on the Bitcoin blockchain. Before 2012, all rewards were 50 BTC per block. In addition, the technical terms “spend” or “spend” only mean that the owner transferred the coin, but this does not necessarily mean that the bitcoin has been “sold” to another owner.
Our report on Saturday showed that 80 yuan of 2010 rewards were spent this year. Interestingly, the 40 block rewards from 2011 were also used in 2021. On Sunday, February 28, 2021, after our last report, this whale miner again spent 20 block rewards since 2010, with a block height of 672,501. Suppose this mysterious miner is seeking attention.
Our last study also mentioned that since mid-March, each batch of whales has used these large whales or groups of whales in 20 blocks, and used these 2010 blocks for this. Our team, together with researchers from Btcparser.com and Russian blockchain researcher Issak Shvarts, discovered 9 expenditure records since 2010.
All strings use the same exact spending method, with block discounts for 20 consecutive decades. Beginning in 2010, 20 block reward string expenditures occurred on March 11, 2020, October 11, November 7, November 8, December 27, and January 3, 2021 ( Bitcoin Anniversary), January 10, January 25 and today (Sunday, February 28, 2021).
There are a total of 180 block rewards, and each reward contains 50 BTC per block. People always merge bitcoins into a BTC address, and then scattered the coins piecemeal. Usually, all the used up strings are from July 2010 to November 2010, and the coinbase date is always the same month.
The block browser oxt.me also showed that the consumption habits of whales in 2010 were always the same. A researcher discussed this issue with our news desk yesterday: “Maybe they have some special applications, a script, it is not very flexible, only 20 private keys can be obtained at a time, but there is a list of receiving addresses. “
Spending solutions are not flexible or the whale is bending and needs attention
Blockchair’s confidentiality indicators show that the mysterious miner’s first expenditure is always vulnerable to heuristics and transaction tracking tools. String spending in 2010 always has “rare fingerprints”, “co-spending”, “input the same address” and “clear” technology.
After the first merger, the transaction “blackened” from here, and according to Blockchair statistics, privacy increased from 0 points to 100 points. Issak Shvarts believes that many 2010 strings that follow this exact same spending method have probably been sold to San Francisco-based exchange Coinbase.
In addition, in addition to a specific 10-year-old string expenditure in mid-March 2020, one or more mysterious miners always spend the corresponding Bitcoin Cash (BCH). In addition, the mining entity will never move the corresponding Bitcoin (BSV) unless it is once on March 11.
In either case, old-fashioned whales or whales that spend a lot of 2010 rewards seem to need attention. Unless whales are forced to use inflexible spending methods or weird spending habits, our inference so far is that whales are a kind of show off and definitely want to attract public attention.
Quite coincidentally, yesterday our news desk wrote: “So far, this particular entity has not moved the main Bitcoin string”, and the whale has spent another 20 string rewards (1,000 BTC). We also know that on October 11, one or more entities did send 9.99999943 BTC (worth $114,000 at the time) to the Free Software Foundation and another 9.999 BTC to the American Institute of Economic Research (AIER).
So far, this whale has spent about 180 block rewards with a ten-year history, totaling about 9,000 BTC. At the exchange rate on Sunday, February 28, 2021, Bitcoin is worth more than 400 million U.S. dollars.
What do you think of the 9,000 bitcoins used since 2010 from March 11, 2020? Let us know your thoughts on this topic in the comments section below.
Picture Credits: Shutterstock, Pixabay, Wiki Commons, theholyroger.com/satoshi-bags-tracker, Btcparser.com,
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