Satoshi Era Bitcoin Awakens: 2010 Block Reward Moves 3 Days After Mega Whale Activity

In a surprising turn of events, the dormant bitcoin stash from the Satoshi era has come to life once again. Following the appearance of a mega whale on December 4, another block reward from 2010 was moved just three days later. This transaction marks the 21st block reward from that year to be spent in the initial week of December. With the movement of these sleeping bitcoins, it seems that the ancient cryptocurrency is stirring after a decade of hibernation. The recent transfer involved dividing the funds between two separate Pay-to-Script-Hash addresses, resulting in a privacy score of 5 out of 100. Although the transfer of 50 BTC may appear modest compared to previous movements, its current value of $2.18 million is undoubtedly striking. This awakening of the Satoshi era bitcoin sheds light on the scarcity of such movements in 2023 and sparks curiosity about its significance.

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Sleeping Bitcoin Stash Stirs After a Decade

On Thursday, December 7, 2023, a dormant stash of 50 bitcoin (BTC) stirred into action for the first time in over ten years. This movement of the so-called ‘sleeping bitcoins’ was detected by the blockchain parsing platform btcparser.com. Echoing the activity seen on December 4, where a series of 20 blocks were utilized, the original address divided the funds between two separate Pay-to-Script-Hash (P2SH) addresses.

The originating address, known as “18JkK,” was established on July 24, 2010. From this, it transferred 1 BTC to the address labeled “32Xas” and a further 48.99 BTC to “3DD4X”. Nevertheless, the transaction was conspicuous in terms of privacy, garnering a low privacy score of 5 out of 100 from Blockchair’s privacy analysis tool. This was attributed to identifiable issues like matched inputs and outputs.

While the transfer of 50 BTC may seem modest compared to the 1,000 BTC moved by the spender of 20 block rewards on December 4, its current value of $2.18 million is striking, especially when contrasted with its July 2010 worth of just $15. Moreover, instances of moving bitcoins from 2010 have become notably scarce in 2023, with more frequent sightings of 2012-era bitcoins.

The specific block reward, number 69,986, spent on that Thursday marked its first movement in over a decade. Importantly, it wasn’t part of the collection of block rewards linked to Bitcoin’s creator, Satoshi Nakamoto. Notably, Satoshi was active during that July but departed the community permanently in December 2010.

Detection of Dormant Stash on Dec. 7

Activity on December 7, 2023 was detected by btcparser.com. The movement of the dormant stash was confirmed as the 21st block reward from 2010 to be spent in the initial week of December.

Movement of ‘Sleeping Bitcoins’

The dormant stash consisted of 50 BTC, which was transferred from the original address to two separate P2SH addresses. This marked the awakening of the ‘sleeping bitcoins’ after their long period of dormancy.

Division of Funds in P2SH Addresses

After the transfer of the 50 BTC, the funds were divided into two P2SH addresses. One BTC was transferred to the address 32Xas, and the remaining 48.99 BTC was transferred to the address 3DD4X.

Privacy Concerns in the Transaction

The transaction involving the movement of the ‘sleeping bitcoins’ raised privacy concerns due to its low privacy score of 5 out of 100. This was attributed to identifiable issues such as matched inputs and outputs, which could potentially compromise the anonymity of the transactions.

Comparison to Previous Mega Whale Activity

While the transfer of 50 BTC may seem modest compared to the 1,000 BTC moved by the spender of 20 block rewards on December 4, it holds significant value. The current value of the transferred BTC is $2.18 million, a substantial increase from its worth of $15 in July 2010. Additionally, the movement of bitcoins from 2010 has become increasingly rare in 2023, with more frequent sightings of bitcoins from the 2012 era.

Value Increase from 2010 to 2023

The increase in the value of the transferred BTC from 2010 to 2023 is significant. Starting off with a worth of just $15, the 50 BTC now holds a value of $2.18 million. This exponential growth highlights the increasing value and adoption of Bitcoin over the years.

Rare Sightings of 2010 Bitcoin Movements

The movement of bitcoins from the 2010 era has become notably scarce in 2023. While the awakening of the ‘sleeping bitcoins’ from 2010 has attracted attention, sightings of bitcoins from the 2012 era have become more frequent. This scarcity adds to the intrigue and curiosity surrounding the movement of older bitcoins.

Specific Block Reward Movement after 10 Years

The movement of the specific block reward, number 69,986, on December 7 marked its first activity in over a decade. This particular block reward was not associated with Satoshi Nakamoto, the creator of Bitcoin. It is worth noting that Satoshi was active during July 2010 but permanently left the Bitcoin community in December of that year.

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Distinction from Satoshi Nakamoto’s Rewards

The movement of the ‘sleeping bitcoins’ is distinct from the block rewards associated with Satoshi Nakamoto. While Satoshi Nakamoto’s rewards hold historical significance, the awakening of the ‘sleeping bitcoins’ from 2010 offers a glimpse into another era of Bitcoin’s early development.

Reader Comments and Opinions

The article concludes by inviting readers to share their thoughts and opinions on the awakening of the 2010 block rewards in December. Engaging the readers allows for an exchange of ideas and perspectives, contributing to a comprehensive understanding of the significance and implications of these events.

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