While BTC’s Price Slid Lower, a Miner Spent an 11-Year-Old Block Reward from 2010 Worth $1.8M – Featured Bitcoin News

After the accumulation of blocks rewards in 2010 that were spent in November 2021 and the subsequent months, there was no discovery of any block rewards for this year in December or the following month until January 21. A block reward that was originally mined in November 22nd, 2010, and now dated 11 years ago, was finally transferred to Friday. It had been sitting idle for over ten years.

Block 93 276: In 2022, the First Block to be Transferred from 2010

On Friday, the first block subsidy award for 2010 was transferred. This comes after nearly two months of no block reward spending in 2010. Block reward 50 BTC was approximately worth $1.8 Million at time of transfer. However, the owner of the BTC account did not use the bitcoin cash (BCH), and bitcoinsv(BSV) corresponding blocks. This amounts to just $20K per 100 unspent coins.

When BTC reached an all-time high, the Mega Whale spent 20 BTC to get block rewards. Because the January 21st block reward spent 50 BTC, one address contained 10 BTC while the other held 40 BTC, it was divided into two addresses.

While BTC's Price Slid Lower, a Miner Spent an 11-Year-Old Block Reward from 2010 Worth $1.8M
A visual perspective of the block 93,276 spend and all the so-called ‘sleeping bitcoin’ spends since January 2009.

According to Blockchair statistics, the transaction received a low privacy rating. Privacy-o-meter gave the transfer a score 45 and matched addresses were identified. While there hasn’t been a great number of 2010 block rewards spend until January 21, there has been a number of 2011 spends.

One spend was made from 2011, one from 2012, and eight block reward payments in December 2011. One block was used from 2012, fifteen block rewards were transferred in December 2013, and six block rewards so far from 2014.

Seven blockchain rewards dating back to 2015 were moved so far, along with 14 from 2016, during 2016. Onchain movements data suggests that 50 BTC of the 2010 block spend may have ended up at Coinbase. The 2010 block spend was caught by Btcparser.com and a chart from theholyroger.com’s ‘not Satoshi’s bags tracker,’ shows a visual perspective.

While it’s been a long time since the last 2010 spend, the length of time between now and the last 2009 block reward spend was on May 20, 2020, or 612 days ago. This particular spend is unique in that the BTC was only issued one month after Satoshi Nakamoto created the network.

The block reward of 3,654 was spent on May 20, 2020. It was 50 BTC and was sent to two addresses. After sitting idle for over a year, one address with 40 BTC was used recently on June 11th 2021.

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$1.8 Million 11-year old Bitcoins. Bitcoins (BTC), 2010 BTC. Bitcoins (BTC), Bitquery.io. Bitcoin reward, bitcoin subsidy. Bitcoins, BTC transfers, Btcparser.com. Bitcoinbase, coinbase rewards, data. Decade-Old. Mined. Old Miner. Onchain data. Theholyroger.com. visual perspective

How do you feel about the miner who spent his 2010 50-bitcoin block reward? Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman, a Florida-based financial journalist and news lead at Bitcoin.com News is Jamie Redman. Redman joined the cryptocurrency community in 2011 and has continued to be active ever since. Since 2011, Redman has been an active member of the cryptocurrency community. Redman has contributed more than 5,000 articles to Bitcoin.com News since September 2015. These articles are about disruptive protocols that are emerging.

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