154 days ago, a mystery bitcoin mining entity spent a string of 20 block rewards from 2010 that sat idle for well over a decade. Our newsdesk has been investigating this bitcoin whale’s actions since catching the entity in 2020. Now after the June 9th appearance, on November 10, the mystery whale returned once again to spend another 1,000 bitcoin stemming from 20 block rewards mined more than ten years ago.
1,000 ‘Sleeping Bitcoins’ Worth $68 Million From 2010 Wake After a Decade of Hibernation
Last year, following the market carnage on March 12, 2020, otherwise known as ‘Black Thursday,’ Bitcoin.com News discovered a large whale spending 20 consecutive block rewards in a row stemming from blocks mined way back in 2010. From here, similar to Herman Melville’s Captain Ahab, our investigation led our newsdesk to discover a myriad of whale sightings, as large quantities of 2010 bitcoin (BTC) block reward strings were spent in 2020 and 2021 as well.
According to our timeline, the entity spent 20 decade-old bitcoin block rewards on March 12, 2020, October 11, 2020, November 7, 2020, November 8, 2020, December 27, 2020, January 3, 2021 (Bitcoin’s 12th anniversary), January 10, 2021, January 25, 2021, February 28, 2021, March 23, 2021, and June 9, 2021. Now, five months later, on November 10, 2021, the mystery whale has once again transferred 20 decade-old bitcoin block rewards, spending 1,000 BTC at block height 709,029.
The 1,000 bitcoins from 2010 transferred on November 10 were discovered by a Bitcoin blockchain parsing tool Bitcoin.com News leverages called Btcparser.com. The 20-block-reward spend took place on early Wednesday morning at a touch after 1: 30 a.m. (ET). The transfer of the 1,000 so-called ‘sleeping bitcoins’ also followed the exact same patterns as the whale’s previous spends indicating that it is likely the same bitcoin mining entity.
These particular block rewards were mined in 2010 during the months of August, September, and October. Another similarity is the fact that this miner has spent the corresponding bitcoin cash (BCH) tied to the original 2010 bitcoin (BTC) addresses. The 1,000 BCH was transferred at Bitcoin Cash block height 713,430. The BCH was spent roughly an hour after the BTC was transferred and the bitcoinsv (BSV) tied to the coins remain idle. The mystery 2010 mining whale has followed this routine during every single 20-block-reward string spend.
Whale Could Transfer to an Escrow account or Coins Could be Held as ‘Virgin bitcoins’ for VIP Exchange Clients
Furthermore, the whale then consolidated the 1,000 BTC into one address (just like all the times before) and the coins are then distributed into wallets with 10 BTC each. The whale also consolidated the 1,000 BCH and then the coins were split into batches of 50 BCH per wallet. According to Bitcoin.com News’ creator, Btcparser.com, the coins could be going to an account. He said that the P2SH address looked like an escrow account. “When bitcoins are received, the previous owner gets paid and later the new owner begins his distribution among many 10 BTC wallets,” the onchain researcher added.
It appears that the coins could have been sent to an exchange. On January 27, 2021, Bitcoin.com News and other onchain researchers assumed it was possible that Coinbase was the final receiver of these ‘forgotten bitcoins’ from 2010. Essentially, the batches of 10 BTC could be held by an exchange and referred to as “pockets for withdrawal.”
The coins could possibly be held for the crypto exchange’s VIP user base as the coins are considered ‘virgin bitcoins.’ There’s been a longstanding rumor that ‘virgin bitcoins’ can fetch a premium of more than 20% above the spot price. “Virgin bitcoins” are coins that have not been mined and have never been linked to other transactions or bitcoins tied to unfavorable activities.
The cryptocurrency community has no idea who the 2010 miner is but it is quite clear the entity mined a great quantity of bitcoin in the early days. Today’s transaction of 1,000 so-called ‘sleeping bitcoins’ was worth $68.4 million at the time of transfer and the bitcoin cash (BCH) spend was worth $712,070.
It is also important to note that the block rewards and the 1, bitcoins that were sifted into wallets with The string of 20 block rewards and the 1,000 bitcoins sifted into wallets with 10 BTC per wallet could very well still belong to the original owner.
What do you think about the 2010 mining entity that has been spending 20 block rewards with 1,000 bitcoin in strings? Please comment below to let us know your thoughts on this topic.
Image Credits: Shutterstock, Pixabay, Wiki Commons, holyroger.com, Btcparser.com,
Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services discussed in this article.
New Non-Custodial Telegram Trading Bot Bitbot Raises $300k In First 72 Hours Of Presale
New York, USA, January 24th, 2024, Chainwire Within 72 hours of its presale launch on the 17th of January, Bitbot raised an incredible $300,000. Bitbot aims to lead the market for Telegram trading bots, a rapidly growing segment of the trading app market that has seen a considerable $7 billion in lifetime trading volume. Telegram…
New York, USA, January 24th, 2024, Chainwire
Within 72 hours of its presale launch on the 17th of January, Bitbot raised an incredible $300,000.
Bitbot aims to lead the market for Telegram trading bots, a rapidly growing segment of the trading app market that has seen a considerable $7 billion in lifetime trading volume.
Telegram trading bots let traders manage a cryptocurrency trading portfolio within Telegram’s app. In practice, this means those investors with heavy telegram usage, which of the 800 million active Telegram users is substantial, no longer need to operate across two applications to manage their trades: an exchange and the Telegram app. Furthermore, Telegram trading bots offer all of the automated trading features seen in exchange apps, bringing the best of two worlds together into one seamless package.
Bitbot’s Technical Product Advisor, Andrew Jacobs, commented: “As we experience a pivotal point in Web3’s evolution, I’m happy to announce Bitbot’s launch. Our mission is to equip retail traders with powerful institution-grade tools in a simple and intuitive trading interface that is backed by robust security. We have a great team and I am looking forward to driving the product’s evolution and meeting the Bitbot community on our regular AMAs, which will be announced on our social channels throughout the presale.”
The Bitbot team is looking to act quickly with a comparatively small $4.3 million raise target, predicting a rapid presale, with prices starting at $0.0100 and ending at $0.0200, potentially offering 100% gains for the early investors prior to the project listing. An additional incentive is the attractive proposition that Bitbot token holders will receive 50% of the company’s profits distributed as a percentage of their holdings once it launches this year.
Bitbot (BITBOT) is available to buy on the official site.
Bitbot’s Push for Mass Market Adoption
Telegram trading bots enhance convenience by enabling users to execute the entire trading process within Telegram, the preferred messaging platform for crypto, bypassing the frequently convoluted user experience associated with exchanges.
Whilst trading volumes on Telegram trading bots have been impressive, it’s obvious that there is still a majority share left in the pie currently dominated by traditional cryptocurrency exchanges. Even Bitspay, consistently ranked among the top 70 exchanges on CMC, has a volume similar to that of all the Telegram trading bots combined. The sheer scale of the opportunity becomes evident in terms of the potential market share, and it’s this kind of potential that’s driving the product and development team and Bitbot to deliver a product suitable for mass adoption.
This is arguably one of the issues with Bitbot’s competitors. Telegram trading bots can be stubbornly complex, with many relying on user commands to operate them. Furthermore, a number of security issues have plagued even the biggest players in the market, leaving a sour taste for some but a potentially very sweet upside for the Bitbot brand.
Bitbot takes both of these issues head-on. Firstly, it gets rid of the need for complex commands by offering an intuitive in-app interface that will be immediately recognisable to exchange users.
Secondly, it offers non-custodial trading, meaning users can integrate Bitbot with their cold wallets and eliminate the uncomfortable need to give up their private keys for the bot’s powerful automated trading features to kick in. This is supported by the brand’s partnership with secure custody technology developer Knightsafe, and is thus far an unprecedented offering in the Telegram trading bot market, a truly unique and innovative approach focusing on institutional-grade asset security.
The bot offers a myriad of advanced features that will appeal to both beginner and advanced traders, from copy trading to automated sniping.
Tokenomics and Presale Roadmap
As per the project’s whitepaper, the Bitbot presale will run through Q1 and see the project list on exchanges in Q2 (unless the presale sells out early, which is possible at the current trajectory).
Allocation details include 30% reserved for the presale, 20% for the development team, 14% earmarked for marketing, 3% for liquidity, 2.3% available to the community (comprising rewards and airdrops), and 10% allocated to a treasury.
The 20% designated for the development team will undergo a 1-year vesting period, ensuring long-term commitment from the team.
Bitbot’s Impressive Journey In the Crypto Market
Unibot and Banana Gun, competing trading bots, swiftly gained prominence, with Unibot’s token price passing $230 in just three months of launch. Investors in Unibot’s presale reportedly saw gains of around 200x, according to a recent CoinDesk article.
Bitbot hopes to follow in their footsteps and its impressive raise has been aided by its community, which rapidly grew over 90K followers on X and over 5100 members on its Telegram within a week of the presale’s announcement. The project is now already in Stage 2, with the token priced at $0.011 and only 9,200,000 tokens left before the price increases by 5% for Stage 3.
Bitbot hopes to attract presale investors on the heels of the recent Bitcoin ETF acceptance and increased trading activity in the cryptocurrency market. This has drawn a significant social following and been picked up by notable crypto publications like Invezz who have already listed Bitbot among their top cryptos for 2024.
Bitbot is a new Telegram trading bot that aims to put institutional-grade trading tools in the hands of retail users, to enable them to trade using a variety of advanced features including sniping and copy trading.
Audited by Solid Proof, Bitbot focuses on security and follows the motto, “your keys, your assets.” To this end the project has partnered with Knightsafe to deliver the world’s first non-custodial telegram trading bot, mitigating against counterparty risk and reinforcing this with anti-MEV and anti-rug technology.
For more information and to buy Bitbot (BITBOT) users can visit Bitbot’s website.
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Ethereum Classic, Blur, and Rebel Satoshi: experts share their price predictions for early 2024
Experts are bullish on Blur (BLUR) in 2024, predicting a surge for the DeFi coin price to 2.3500 by the end of the first quarter. Price predictions for Ethereum Classic (ETC) inspire hope among investors. Top ICO experts advise investors to get in on Rebel Satoshi ($RBLZ) for the best ROI. According to crypto market experts, the…
- Experts are bullish on Blur (BLUR) in 2024, predicting a surge for the DeFi coin price to 2.3500 by the end of the first quarter.
- Price predictions for Ethereum Classic (ETC) inspire hope among investors.
- Top ICO experts advise investors to get in on Rebel Satoshi ($RBLZ) for the best ROI.
According to crypto market experts, the recent Bull Run suggests that investors in top crypto coins may find success in a few projects, such as Rebel Satoshi, as well as certain top DeFi projects, such as Blur and Ethereum Classic.
Let’s look at what sets $RBLZ apart from the crowd of altcoins, like BLUR, ETC, as one of the best cryptos to buy in early 2024.
Analysts predict a significant uptick for BLUR
As of December 18, OKX’s NFT platform outperformed the 24-hour trading volume of Blur, a well-known NFT marketplace. However, two weeks later, the Blur marketplace has recovered, accruing more volume to claim second spot among the NFT marketplaces in terms of volume.
Following these developments, the value of BLUR has risen. The value of Blur on December 18 was $0.4324. Since then, the BLUR token price has risen to $0.6664 on January 19, indicating a 54.12% increase. Experts are pleased with these developments and have predicted that the price will rise further to $2.3500 by the end of the first quarter.
On the contrary, in their price forecasts, some other BLUR analysts have cited price volatility as the reason why BLUR will decline in value to $0.1600 by the end of the first quarter.
ETC surges after the dissolving of ETHW Dev team
Recent news reports from the Ethereum Classic ecosystem claim that the Ethereum Proof of Work’s main development team was dissolved on December 19 to transition to community governance. This has translated to a proposal for a similar action for Ethereum Classic.
The value of ETC on December 19 was $19.71. In the two weeks since then, the DeFi coin price has risen to $24.75 on January 19, indicating a 25.57% increase in ETC’s valuation.
Regarding the ETC price prediction, experts on Ethereum Classic have expressed satisfaction over these developments and have predicted that the value of ETC will see a further rise to $40.00 by the end of March.
Conversely, some other analysts of Ethereum Classic have cited the lack of partnerships in the Ethereum Classic ecosystem as the reason why ETC could decline in value to $15.50 by the end of March.
Rebel Satoshi (RBLZ) continues to rise in presale
Rebel Satoshi has distinguished itself as an interesting investment option among a sea of cryptocurrency meme currencies. This meme coin, inspired by Satoshi Nakamoto and Guy Fawkes, has piqued investors’ interest even in the pre-sale stage. Rebel Satoshi’s native token, $RBLZ, aims to usher in a new era of decentralization. Its goal is to create a community that allows underdogs to collectively oppose centralized systems.
Rebel Satoshi‘s native coin, $RBLZ, has set presale records as the Early Bird Round 1 and Rebels Round 2 sold out completely in 10 and 15 days, respectively. Additionally, in the just finished Citizens Round 3, $RBLZ traded for $0.020. Over 120 million $RBLZ tokens have been sold thus far, with the Monarchs Round 4 of the Rebel Satoshi presale currently underway, seeing $RBLZ valued at $0.022.
This pricing provides a 120% ROI for those who bought $RBLZ at the $0.010 Early Bird Round price. When $RBLZ reaches its listing price of $0.025 in February, it will reward early investors with a 150% ROI.
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BIS unveils 2024 strategy: focus on CBDCs and tokenization
BIS’s 2024 Strategy Unveiled: CBDCs and Tokenization Key Focus. Project Promissa to digitize Promissory Notes using blockchain tech. Project Aurum advances CBDC privacy in retail payments with HKMA. The Bank for International Settlements (BIS) is set to make significant strides in digital currency research, emphasizing central bank digital currencies (CBDCs) and tokenization in its 2024…
- BIS’s 2024 Strategy Unveiled: CBDCs and Tokenization Key Focus.
- Project Promissa to digitize Promissory Notes using blockchain tech.
- Project Aurum advances CBDC privacy in retail payments with HKMA.
The Bank for International Settlements (BIS) is set to make significant strides in digital currency research, emphasizing central bank digital currencies (CBDCs) and tokenization in its 2024 strategy.
The BIS Innovation Hub has outlined a comprehensive program, featuring six new projects, exploring cybersecurity, financial crime, CBDCs, and green finance. Among the key initiatives are the second phase of Project Aurum and the launch of a blockchain-based tokenization project, Project Promissa.
Project Promissa: revolutionizing financial instruments with tokenization
Project Promissa, a collaborative effort involving BIS, the Swiss National Bank, and the World Bank, aims to usher in a new era for financial instruments. Focusing on digitizing promissory notes, a traditional yet paper-based financial commitment, the project leverages blockchain technology to enhance transparency and simplify management.
This proof-of-concept platform is set to revolutionize the handling of promissory notes by digitizing them, aligning with the BIS’s commitment to exploring innovative solutions in the realm of tokenization. The initiative is anticipated to conclude its proof-of-concept phase by early 2025.
Project Aurum: advancing CBDC privacy in retail payments
Building on the success of its wholesale interbank system and retail CBDC prototype in 2022, Project Aurum, conducted jointly by BIS and the Hong Kong Monetary Authority (HKMA), progresses into its next phase.
The project explores the privacy aspects of retail payments using CBDCs. With the HKMA’s achievements in developing a robust foundation for Aurum, the research now delves deeper into understanding the intricacies of privacy in retail CBDC payments. This initiative aligns with the broader BIS strategy, highlighting the pivotal role of CBDCs in the evolving landscape of digital currencies.
BIS’ additional initiatives
Alongside tokenization and CBDC-focused projects, BIS introduces four other initiatives – Project Leap, Project Symbiosis, Project Hertha, and Project NGFS Data Directory 2.0 – addressing cybersecurity, green finance, and financial crime.
These projects underscore BIS’s commitment to a multifaceted approach to shaping the future of financial technology. Additionally, the continued focus on projects like Mandala, Pyxtrail, and Cambridge showcases BIS’s dedication to innovation, automation, and experimentation across diverse aspects of the financial industry.
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