Connect with us

Bitcoin

A string of 200 “Sleeping Bitcoins” worth $4.27 million moved on Friday

A String of 200 'Sleeping Bitcoins' From 2010 Worth $4.27 Million Moved on Friday

While the price of bitcoin is holding above the $21K per unit range, four bitcoin block rewards mined in 2010 were spent for the first time in over 11 years. The four block rewards were mined between September and October 2010 and the 200 bitcoin worth $4. 27 million were transferred to an unknown wallet.

4 Consecutive Block Rewards Spent on June 24, Data Suggests Spends Were Executed by a Single Entity

A large number of so-called ‘sleeping bitcoins’ have awoken from slumber as four block rewards were spent at block height 742,183. The old coins spent on Friday were block rewards mined on September 15, 16, 26, and October 29, 2010. During that time frame, bitcoin miners received 50 BTC for every block found in contrast to the 6. 25 BTC per block reward miners get today.

The block rewards moved came from four addresses that include “18cxWU,” “1BJmWW,” “1FVVcE,” and “1Hdo8D.” The 2010 spends were caught by the blockchain parser btcparser.com and in all four addresses, the owner did not spend the associated bitcoin cash (BCH) and bitcoinsv (BSV) as those coins still remain idle.

Blockchain explorers show the 200 virgin bitcoins were sent to a single address (bc1q92) and the coins remain idle at the time of writing. A consecutive number of 2010 block rewards spent in the same block suggests a single entity was likely the owner of the block rewards. The bitcoins mined in 2010 over a two-month span (September and October) also suggest the spending was executed by a single entity.

Transfers Had Low Privacy Ratings, ‘Sleeping Bitcoin’ String Spends From 2010 Have Slowed

It seems that the addresses were swept and transactions have a low privacy rating due to various reasons. Blockchair.com’s privacy-o-meter indicates that the final consolidation into bc1q92 had a privacy score of 0 out of 100. Transactions contained vulnerabilities such as co-spending, matched addresses, and multiple addresses being used in multiple inputs.

There haven’t been many strings of 2010 block reward spends since the 2010 mega-whale appeared months ago back in March. The 2010 mega whale usually spent strings of 20 block rewards from that year all at once. Prior to the string of four block subsidies from 2010 spent, a week ago the address “1Li8RF” spent 50 virgin bitcoins, and “1LNqDK” spent 50 BTC from 2010 about a month ago.

What do you think about the 200 so-called ‘sleeping bitcoins’ from 2010 spent on June 24? Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman, the News Lead at Bitcoin.com News, is a Florida-based financial journalist. Redman has been an active member of the cryptocurrency community since 2011. Redman is passionate about Bitcoin, open-source codes, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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.

Read More

Bitcoin

Bitcoin Cash Rallies Ahead of Upcoming Halving and Upgrade

The Bitcoin Cash network stands on the brink of its forthcoming halving event, set to take place a week from now. This milestone will see mining rewards on the network notably reduced from their current levels. Currently, Bitcoin Cash ranks as the 15th largest by market capitalization among over 10,000 cryptocurrencies…
Read More

Continue Reading

Bitcoin

Bitcoin Miner Bitdeer Seeks $100 Million for Mining Capacity Expansion

Bitcoin miner Bitdeer is reportedly in discussions with private credit firms to secure $100 million in funding to expand its mining capacity. It is believed that the cryptocurrency miner has engaged a financial adviser to assist with the negotiations. Negotiations Between Bitdeer and Lenders Continue The cryptocurrency mining firm Bitdeer Technologies Group is reportedly seeking [……
Read More

Continue Reading

Bitcoin

House of Streams Presents First-Ever Live Interactive Reality Show With Bitcoin Prize, Global Streamers, and Live Fan Engagement Set to Redefine Reality TV

House of Streams Presents First-Ever Live Interactive Reality Show With Bitcoin Prize, Global Streamers, and Live Fan Engagement Set to Redefine Reality TV – Press release Bitcoin News





















Read More

Continue Reading

Trending

Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.