50 BTC Mined In 2009 Just Moved From An 11-Year-Old Inactive Wallet
50 BTC Mined In 2009 Just Moved From An 11-Year-Old Inactive Wallet
May 21, 2020
50 BTC Mined In 2009 Just Moved From An 11-Year-Old Inactive Wallet
50 BTC Mined In 2009 Just Moved From An 11-Year-Old Inactive Wallet
May 21, 2020

A twitter bot alleged a recent bitcoin transaction of 50 BTC mined in 2009 came from an 11 year old inactive wallet possibly belonging to Satoshi Nakamoto, the protocol’s creator. 

“Whale Alert,” a popular Twitter bot account tracking on-chain transactions for multiple blockchains tweeted:

BTC price dipped as the tweet quickly went viral. 

Hunter Merghart, head of U.S. operations at Bitstamp, commented on the market’s reaction:

The coins were old (mined in 2009) and inactive (not moved until May 20) is the only link that possibly connected them to Satoshi Nakamoto

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Commenting on the unconfirmed alert, bitcoin software engineer Jameson Lopp noted the script behind the account is a bit naive and should be improved for accuracy:

More sophisticated analysis casts doubt on Nakamoto’s connection to these coins:

Analysis of the habits of a single, early miner has been used to develop the “Patoshi pattern,” which is believed to indicate which blocks Nakamoto most likely mined and those he didn’t. 

The “Patoshi” miner is believed to be Nakamoto, according to the hashrate analysis. However, disproving that Satoshi Nakamoto owned these coins is also ultimately impossible.


Source: CoinDesk | Image: Pixabay

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Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.
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