On Bitcoin’s 12th Anniversary, a mysterious miner from the early days spent 1,000 ten-year-old Bitcoins mined in 2010. The curious miner isn’t the only entity to spend 2010 BTC block rewards over the past nine months, but this miner is back On a few occasions to spend chains of ten-year-old block rewards. Heading towards the end of 2021, 152 blocks containing 7,600 bitcoin worth $319 million were spent today and were minted in 2010 this year after being idle for more than a decade.
Old School Whale Transfers From 2010 Outpace 2011 and 2012, $977 Million in Dormant Bitcoin Moved This Year
Over the past 12 years, a large number of people have lost bitcoins under various circumstances, and it is likely that these currencies will never come back into circulation. Then there is another group of bitcoins that the community calls “sleeper bitcoins” or “zombie bitcoins” because they have been dormant since the day they were created.
At some point, if the owner decides to spend the bitcoin, “sleeping bitcoins” wake up after several years. Last year and this year, Bitcoin.com News has been keeping an eye on old school rewards being spent years later, after an unusual whale was discovered in 2010.
After spending on the 12th anniversary of Bitcoin (January 3, 2021), the mysterious miner appeared several times during the year to spend chains of 20 block rewards from 2010. Block spending from 2010 is not common, and each block reward contains 50 BTC as the first block reward The halving did not occur until November 28, 2012.
The last time this particular miner appeared from 2010 was on June 9, 2021. This year he spent 20 block reward chains on January 3, 2021 (Bitcoin’s 12th anniversary), January 10, 2021, January 25, 2021, February 28, 2021, March 23, 2021 and June 9, 2021.
This is a total of 120 blocks, or 6000 bitcoins, worth $252 million spent by what we assume is a single mining entity from 2010. In fact, we can say that the entity spent 78.94% of the total blocks for 2010 that were spent this year (152 total). Because of this whale’s spending, the 2010 block reward you spend in 2021 exceeded your 2011 and 2012 block reward spending.
In 2021, there were approximately 85 group bonuses from 2011 carried over from the original title. That’s 4,250 Bitcoin total worth $178 million using today’s exchange rates. January and February 2021 saw the highest number of blocks in 2011 transferred this year.
Statistics from btcparser.com show that there were more blocks spent this year in 2011 than the amount of 2012 blocks. The total total of 2012 block rewards moved in 2021 is currently 63 block rewards. Among the block rewards in the 2012 block list, they were all minted before the halving, which means they were issued before November 28, 2012.
63 blocks of rewards with 50 BTC worth about 3,150 BTC or $132 million at the time of writing. The number of 2013 blocks transferred in 2021 exceeded all combined reward expenditures for 2010, 2011 and 2012 this year.
Mass spending in 2013 exceeded the previous three years, but transfers moved to less bitcoin
So far, 330 blocks of rewards have been spent from 2013 through 2021. That’s 30 more blocks than 2010, 2011 and 2012 spent combined. However, since the 2013 blocks were spent after the first halving in November 2012, transfers have moved only 8,250 BTC this year ($347 million).
This is because in 2013 miners received 25 bitcoins instead of the 50 bitcoins given before the halving. All 2010, 2011 and 2012 spends combined (300 blocks) add up to 15,000 Bitcoin ($630 million). Among the block rewards moved from 2010, 2011, 2012 and 2013, a total of 630 block rewards totaling 23,359 BTC worth $977 million were spent today.
Cryptocurrency proponents have no idea what these miners are, but they certainly mined a huge amount of bitcoin in the early days. It should be noted that the terms “exhausted” or “spent” in this article do not necessarily mean that bitcoins were “sold” to a third party for fiat currencies or other crypto assets.
For this article, using Btcparser.com, we analyzed 21,519 titles from 2009, 12,396 titles from 2010, 3,598 titles from 2011, 2,193 titles from 2012, and 5,214 titles from 2013. From a visual perspective, we analyzed This report analyzes the “(not)” Satoshi Bag Tracker found on theholyroger.com. No block rewards from 2009 were spent in 2021 and the last time a 2009 block was moved was on May 20, 2020, when an entity spent a reward Coin minted on February 9, 2009.
What do you think of the $977 million in bitcoin moved from the 2010-2013 block rewards in 2021? Tell us what you think about it in the comments section below.
photo credits: Shutterstock, Pixabay, Wiki Commons, theholyroger.com, Btcparser.com, Bitcoin.com,
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