20 More Pooled Rewards From 2010 Spent Today – Why Are Old Bitcoins Awakening?

After 21 Coinbase rewards from 2010 spent on November 7, another long line of so-called “sleeper Bitcoins” that was mined a decade ago was moved on Sunday morning. According to onchain data, the 20 bonuses from 2010 were converted 1,000 BTC at 4:02 a.m. ET.

A lot of “ zombie coins ” were moved in 2020, after having been inactive for more than ten years. Zombie coins or the so-called “dormant bitcoins” are a great number of old titles with big bonuses that have never been spent. It is estimated that there are about 1.5 to 2 million bitcoins dormant in the headlines and the coins never moved. A large part of the sleeping Bitcoin cache is assumed to be Satoshi Nakamoto, as he / she is believed to have extracted around 700,000 to 1.1 million Bitcoins.

It’s unusual for Coinbase to be spent bonuses from 2010, but in 2020 there were just too many views. On a Sunday morning at around 4:02 a.m. (EST), after news.Bitcoin.com reported 21 blocks from 2010 spent on Saturday morning, another 20 bonuses were moved. All 20 Coinbase bonuses were moved at a block height of 655,943 and once again all actions were discovered by researchers from Btcparser.com.

20 More Pooled Rewards From 2010 Spent Today - Why Are Old Bitcoins Awakening?

Similar to the pattern spent on Saturday, November 7, coins spent on Sunday saw Bitcoin Cash (BCH) spend as well. Blockchain Explorer data also shows that the corresponding bitcoinsv (BSV) coinbase rewards were not spent.

The move was Sunday morning at 4 am, another $ 15.5 million worth of Bitcoin block rewards ten years ago. Back in 2010, the block reward for miners finding a block was around 50 Bitcoins per reward. All money from Block Rewards 2010 was sent to a single address Sunday morning, and news.Bitcoin.com readers can see the address here.

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** Update – After this editorial was published, on November 8, 2020, at around 1:03 PM (EST), the owner split their 1,000 Bitcoin (BTC) stock into multiple outputs. **

20 More Pooled Rewards From 2010 Spent Today - Why Are Old Bitcoins Awakening?
The chart emerging from theholyroger.com shows the two series spent on Saturday and Sunday morning.

The Blockchain Explorer explorer shows that unlike previous chains of 2010 spending Saturday 11 October and 11 March, Sunday spending had no privacy. Yesterday’s Privacy-o-Meter spend on Blockchair’s Privacy-o-Meter had a 100% Privacy Score, while Sunday’s 2010 spending was zero. Blockchair data today shows that all the money combined into one address, and there were joint spending and sweeping operations.

20 More Pooled Rewards From 2010 Spent Today - Why Are Old Bitcoins Awakening?
The 20 bonuses from 2010 that were spent on November 8, 2020 were combined into one title.

Another similarity with Sunday’s spending of 2010 compared to yesterday’s series, is that all coinbase bonuses originated from the months of August, September, and October 2010.

Speaking with a researcher from Btcparser.com, the analyst noted, “Whales are a type of retail training.” A Btcparser.com analyst said the coins could have been sent to the exchange, but they were still idle and on hold. “Therefore, not everyone may see a clear link between the awakening and the price correction,” he said.

The analyst added:

People might begin to speculate that 1,000 old Bitcoins might spark dumping prices … but what could 10,000 Bitcoin do?

In addition to the analyzed data emanating from Btcparser.com and a variety of blockchain explorers, theholyroger.com Satoshi Bag Tracker (NOT) also offers a visual perspective of ancient coins spent this weekend on Saturday and Sunday morning. .

People often also ask how many miners, besides Satoshi, have mined bitcoins during this time frame. Old posts and forums on social media show that in this period in 2010 there were a lot of miners, maybe hundreds and maybe even more than a thousand miners.

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During the summer months of 2010, specifically in July, there was a period of transition between the Bitcoin CPU and GPU miners. For example, the alias Artforz appeared on Bitcointalk.org in July 2010, and in certain time frames, it claimed to control more than a quarter of the total hash rate. It was a regularly watched developer for a while in the early days of Bitcoin.

Also, Laszlo Hanyecz, the guy who traded 10,000 BTC for two pizzas, the GPU had already mined bitcoin two months before Artforz. However, Artforz is known for its first GPU farm, known as “Artfarm”. Artforz’s farm consisted of 24 Radeon 5970s in Summer 2010. He also claimed to have mined 1,700 BTC in six days. Additionally, in October Artforz was claimed to possess roughly 20-30% of the computing power of the Bitcoin network.

What do you think of moving 20 pieces from 2010 Sunday morning, November 8th, after yesterday’s move? Let us know what you think about this story in the comments section below.

The signs are in this story

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Image credits: Shutterstock, Pixabay, Wiki Commons, Btcparser.com, Bitcoin.com, Holyroger.com,

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