On Saturday, February 27, 2021, news.Bitcoin.com reported on the large number of block rewards in 2010 and 2011 being spent this year. In that report, it was said that the mysterious whale entity that we have hunted “has not moved a large row of bitcoins” since 25 January. After the publication of that study on Sunday, the former whale miner moved another 20 block of rewards as of 2010, when 1,000 bitcoins that have been inactive for more than a decade have been spent.
9,000 Bitcoins from the previous decade spent since March 11, 2020
Since mid-March, news.Bitcoin.com has been after an old guard bitcoin (BTC) miner who has spent large strings of block rewards in 2010. A block reward is an incentive that a bitcoin miner gets for find a block on the Bitcoin blockchain and, before 2012, all the rewards were 50 BTC per block. In addition, the technical term “spend” or “spend” simply means that the owner has moved the coins, but does not necessarily mean that bitcoins have been “sold” to another owner.
Our report on Saturday showed that there were 80 block rewards from 2010 that were spent this year. Interestingly, 40 reward blocks from the 2011 days were also spent in 2021. On Sunday, February 28, 2021, following our last report, the whale miner once again spent another 20 block rewards from 2010 at the time of the block. 672,501. The mysterious miner is presumed to be seeking attention.
Our last study also mentioned the megabalea or group of whales that have been passing these 2010 blocks in sequences of 20 blocks per transfer since mid-March. Our team, along with researchers from Btcparser.com and Russian blockchain researcher, Issak Shvarts, discovered a total of 9 spending strings in 2010.
All strings use the same exact pattern of spending on block grants for 20 consecutive decades. Spending for the 2010 20 block reward string took place 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.
This is a total of 180 rewards per block and each contained 50 BTC per block. The person (s) always consolidates the bitcoins into a single BTC address and then the coins are dispersed in fractions. Typically, all spent block strings run from July 2010 until November 2010, and the base dates for the currency are always the same months.
The block explorer oxt.me also shows that the consumption pattern of whales in 2010 is always the same. A researcher discussing the matter with our newsroom yesterday said: “Perhaps they have some special application, a script, which is not very flexible and can only obtain 20 private keys at a time, but a list of receiving addresses”.
Spending solutions are not flexible or the whale is flexing and wants attention
Blockchair’s privacy meter shows that the mysterious miner’s first expenses are always susceptible to heuristics and transaction tracking tools. Spending on 2010 strings always has a “rare fingerprint”, “co-spend”, “same address on entries” and “scanning” techniques.
After the first consolidation, transactions ‘go dark’ from here, and privacy is increased from 0 to 100 points according to Blockchair statistics. Issak Shvarts believes that several 2010 strings that followed exactly the same spending pattern were probably sold to the San Francisco-based Coinbase exchange.
In addition, with the exception of a specific string spend of mid-March 2020, the miner or mysterious miners always spend the corresponding bitcoin cash (BCH) as well. In addition, the mining entity never moves the corresponding bitcoinsv (BSV), except once on March 11.
Whatever the case, the old school whale or the whales that spend the strings of the 2010 block rewards seem to want attention. Unless the whale is forced to use a non-flexible spending script or a strange spending habit, our deduction so far is that the whale is an exhibitionist and definitely wants the public’s attention.
It is a great coincidence that, after our news desk wrote: “So far, this particular entity or entities have not moved an important sequence of bitcoins since then” yesterday, and then the whale spends another 20 block reward sequence from 2010 (1,000 BTC). We also know that on October 11, the entity or entities sent 9,999999943 BTC ($ 114k in value 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 about 180 block rewards from decades to date, totaling approximately 9,000 BTC. This amounts to more than $ 400 million in bitcoin using exchange rates on 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 about this in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons, theholyroger.com/satoshi-bags-tracker, Btcparser.com,
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