1,000 dormant ten-year-old Bitcoins were transferred on Bitcoin’s 12th anniversary

Twelve years ago, Bitcoin inventor Satoshi Nakamoto launched the network after unveiling the concept of the cryptocurrency via the White Paper a few months ago. At around 18:15:05 UTC, the network launched its first block and since then, more than 664,000 Bitcoins have been mined. On top of that, on the network’s twelfth anniversary of coming to life, a large series of group rewards for 2010 kicked into motion after more than ten years of sitting idle.

The 12th Anniversary of the Bitcoin Blockchain

Cryptocurrency supporters celebrate the The first mathematical network to solve a problem The Dilemma of the Byzantine Rift It was created by the inventor with a pseudonym Satoshi Nakamoto. The birth of Bitcoin (BTCThe network is very private and over the past 12 years, the cryptocurrency asset has become extremely valuable and reached its highest level today on January 3, in $ 34,800 per unit.

After Satoshi shared his cryptocurrency concept with a handful of interested individuals online at Halloween 2008, just over three months later he launched a cryptocurrency block reward, known as “block zero” or “genesis block.”

Block Zero or Genesis Block has the usual 50 Bitcoin bonus, but these Bitcoins cannot be spent. The formation block also contained two leading hex zeros as well, which was a common feature of early blocks at the time. Moreover, the notorious zero block also contained a message that could be found in the block’s coinbase parameter.

The first blockchain message engraved in Satoshi’s cryptocurrency block reads:

The Times 03 / Jan / 2009 The advisor is on the verge of a second bank bailout.

Today’s formation block not only contains the 50 Bitcoin block reward that can not be spent, but people have also sent small bits of Bitcoin to the address since its launch. The Genesis block title has seen about 2,722 transactions and there is now a cumulative total of 68.35 BTC Idle sitting.

These days, Bitcoin blocks are completely predictable and processed every 10 minutes or so by miners. But the block (1) that followed the solid formation block did not occur until seven days later. First transaction with the software programmer, Hal Finney, In Block 9, or three full days after mining Block 1.

Bitcoin Stash Satoshi Nakamoto

Now Satoshi Nakamoto also spent time with the community, until December 2010. It is well known that the inventor also mined the origin of the cryptocurrency during those months he spent coordinating the network with the community.

Interestingly, it is assumed in many academic papers that Nakamoto mined anywhere from 700,000 to 1.1 million. BTC During his tenure to start the network. The inventor allegedly did this using a single Windows PC. It is also assumed that Nakamoto has not spent any coins since they were initially mined, and that his stock of one million Bitcoins has remained idle since its release.

Many of the ancient coins that stem from Coinbase’s rewards have not been spent and have been dormant for over ten years. For example, onchain researchers from Glassnode chirp On December 18, 2020, “1.78 million Bitcoins never left their miner’s address.”

Interestingly, last year in 2020, news.Bitcoin.com Discover An old school miner or miners spent a consecutive number of 2010 block rewards in chains. Each series spent in the past year, has been around 20 to 21 blocks of bonus from 2010 and these coins have not been moved once since the day they were released.

20 Old Block Rewards from 2010 Move on January 3, 2021 in Block 664263

Surprisingly, a mysterious miner or miner spent another large series of “dormant bitcoins” of the Satoshi era today on the 12th anniversary of the Bitcoin network’s launch. On January 3, 2021, exactly 20 block rewards from 2010 were spent at a block height of 664263. An old miner from 2010 sent Bitcoins valued at more than $ 339 million to file BTC Title starting with “35grPirp”.

After the initial consolidation, 1000 BTC It was divided into fractions after Exactly the same patterns Find out news.Bitcoin.com along with all other block chains for 2010. Spending 20 blocks has been caught today Btcparser.com, And a visual perspective of the 2010 spent blockchain series at theholyroger.comSatoshi bags tracker. “

Usually, this miner, if it was one single entity, would spend one more block in 2010 shortly thereafter from the day to spend 21 block reward. Spent ancient block rewards from the “ Satoshi Era ” are very rare, but they have been gaining momentum since 2020.

It’s also worth noting that the old school miner always spends the corresponding bitcoin cash (BCH(Also block bonuses, but not bitcoinsv)BSVRewards. The only time a miner spent block rewards on all three strings was 21 block rewards from 2010 that were spent on March 11, 2020, the day before the infamous “Black Thursday”.

Today’s block outlay from 2010 is very special, as you see how it was moved on Bitcoin’s birthday, while the cryptocurrency asset also touched another high price ever.

We don’t really know if these coins were sold or planned to be sold in the open market. The technical term “spent” simply means that the coins left the original address from which they originated, and this does not necessarily mean that the coins are sold on exchanges. Moreover, the term “Satoshi era” also does not mean Nakamoto-derived coins, because the term simply means that the inventor was present during this time period.

What do you think about the 12th anniversary of the Bitcoin blockchain? Let us know what you think about it in the comments section below.

Image credits: Shutterstock, Pixabay, Wiki Commons, Btcparser.com, Bitcoin.com, Holyroger.com,