On Saturday, February 27, 2021, news.Bitcoin.com reported on the large number of block rewards from 2010 and 2011 that were spent this year. In that report, it was said that the mysterious whale entity we have been hunting “did not move a major chain of bitcoins” since January 25. Following the publication of that study on Sunday, the old-school whale miner moved another 20 block rewards starting in 2010, as 1,000 bitcoins were spent and lay idle for more than a decade.
9,000 decade-old bitcoins spent since March 11, 2020
Since mid-March, news.Bitcoin.com has been on the trail of an old-school bitcoin (BTC) miner who has been spending large amounts of 2010 block rewards. A block reward is an incentive that earns a bitcoin miner for finding a block on the Bitcoin blockchain and prior to 2012, all rewards were 50 BTC per block. Also, the technical term “spend” or “spend” simply means that the owner moved the coins, but it does not necessarily mean that the bitcoins were “sold” to another owner.
Our report on Saturday had shown that there were 80 block rewards from 2010 that were spent this year. Interestingly, 40 block rewards were also spent from the days of 2011 in 2021. On Sunday February 28, 2021, after our last report, the whale miner again spent another 20 block rewards from 2010 at block height 672.501. The mystery miner is supposed to be seeking attention.
Our latest study also mentioned the mega whale or group of whales that have been spending these 2010 blocks on chains of 20 blocks per transfer since mid-March. Our team along with researchers from Btcparser.com and Russian blockchain researcher Issak Shvarts have discovered a total of 9 spending chains from 2010.
All chains use the exact same concession spending pattern of 20 consecutive decades-old blocks. 20 block reward chains of 2010 occurred on March 11, 2020, October 11, November 7, November 8, December 27, January 3, 2021 (Bitcoin anniversary), January 10, January 25 and today (Sunday, February 28, 2021). ) as well.
That’s a total of 180 rewards per block and each and every one of them contained 50 BTC per block. The person (s) always consolidate the bitcoins in a single BTC address and then the coins are dispersed into fractions. Usually all spent blockchains come from July 2010 to November 2010, and the dates of the coin base are always the same months.
The block explorer oxt.me also shows that the 2010 whale’s spending habits pattern is always the same. A researcher who discussed the issue with our news service yesterday said: “Maybe they have some special application, a script, which is not really flexible and can get only 20 private keys at a time, but a list of receiving addresses.”
Either the spending solutions are not flexible or the whale is flexing and wants attention
Blockchair’s privacy meter shows that the mystery miner’s first expenses are always susceptible to heuristics and transaction tracking tools. The 2010 chain charges always have a “weird fingerprint”, “joint expense”, “same address on inputs” and “sweep” techniques.
After the first consolidation, transactions ‘go dark’ from here, and privacy increases from 0 to 100 points according to Blockchair statistics. Issak Shvarts believes that numerous chains from 2010 that have followed exactly this same spending pattern have likely been sold to the San Francisco-based exchange Coinbase.
Also, except for the decade-specific chain spending of mid-March 2020, the mystery miner or miners always spend the corresponding bitcoin cash (BCH) as well. Furthermore, the mining entity never moves the corresponding bitcoinsv (BSV), except for a one-time only on March 11.
Whatever the case may be, the old-school whale or whales spinning the 2010 block rewards threads seem to want attention. Unless the whale is forced to use an inflexible spending script or an odd spending habit, our deduction so far is that the whale is a braggart and definitely wants the public’s attention.
It is a huge coincidence that after our news service writes: “So far this particular entity or entities have not moved a major bitcoin chain since then” yesterday, and then the whale spends another chain of 20 block rewards of 2010 (1,000 BTC). We also know that on October 11, the entity or entities sent 9,99999943 BTC (worth $ 114k at the time) to the Free Software Foundation and another 9,999 BTC to the American Institute for Economic Research (AIER).
The whale has spent approximately 180 block rewards from decades to date, totaling approximately 9,000 BTC. That’s more than $ 400 million in bitcoins using the exchange rates of Sunday, February 28, 2021.
What do you think of the 9,000 2010 bitcoins spent since March 11, 2020? Let us know what you think on this topic in the comment section below.
Image credits: Shutterstock, Pixabay, Wiki Commons, theholyroger.com/satoshi-bags-tracker, Btcparser.com,
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