The fact was reported by a European operator and software developer identified as Kirill Kretov, who published his finding on the professional social network, LinkedIn.
About 1,000 bitcoins (BTC) that had been “inactive” since 2010 were transferred to a single wallet this Sunday, October 11. The amount of cryptocurrencies is currently equivalent to 11.5 million dollars and would represent the reward for mining 20 blocks of that time.
These types of movements of bitcoins mined between 2009 and 2010 are also known as bitcoins of the “era of Satoshi (Nakamoto)” since the creator of the network was still active in the bitcoiner community.
The user indicated that the movement would be related to a similar one of 1,000 BTC detected in March of this year, and that it was executed a day before the so-called “black Thursday”. The programmer assures that it would be the same person.
“I did an analysis of two great old bitcoin awakenings. One that took place on March 11 and another that happened today, October 11. And I can conclude that they have the same owner! ”Said Kretov, who found it curious that both operations occurred on the 11th.
During the early years of Bitcoin as a digital system, the established reward per block mined was 50 BTC. In 2012, and after the first halving, the incentive was reduced by 50% to 25 BTC.
In 2016, the second halving was applied to the network, and the reward was 12.5 BTC. In May of this year the third adjustment in incentives occurred to currently settle at 6.25 BTC per block.
For Hans Hauge, head of strategy at Ikigai Asset Management, what happened could rather represent an upward trend in the cryptocurrency market. In a message to Kretov himself, he stressed that the miner moved his coins from the old address format to the new Bech32 compatible with Segwit, which would save space and is more secure.
Why is this so positive?
If this guy was just planning to dump these coins on an exchange, why bother with the new address format and chunk size (splitting of transactions)? It’s as if he’s organizing his vault, ”Hauge posted.
A report from the website bitcoin.com noted that the exact number of BTC transferred was 1,050 corresponding to 21 block rewards.
The incentives of the first 20 were settled in block 652204, but in block 652229 another operation of mined bitcoins was also registered in 2010. Besides, it was announced that almost 10 BTC, about $ 115,000, would have been subsequently sent to the Free Software Foundation.
Another curious detail is that the operator made a total of 81 transactions with the 1,000 BTC. Of that universe of operations, 80 came for 10 BTC to native Segwit addresses and the remaining, for 200 BTC, to a Legacy address (original format). The latter already accumulated 1,953 BTC, an amount equal to about 22.5 million dollars.
These types of movements of bitcoins mined more than 10 years ago are very unusual; however, they continue to occur. In May of this year that 50 BTC mined in 2009 were transferred after 11 years. The event ignited social networks, as it was speculated that the operation had been conducted by Satoshi Nakamoto himself.
By: Jenson Nuñez.