Dormant Address Containing 100 BTC Activated After 12.4 Years When BTC Was $0.08 - page 2.

so98nn

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Quote from: stompix on April 07, 2022, 09:42:37 AM

Quote from: so98nn on April 07, 2022, 09:12:48 AM

[…]

You're completely mistaken
https://bitcoinblockexplorers.com/tx/a870a40b00c92142ea1cf417838e4685cf8d4bf5e719e4efa348768400018e72

You can see there that the company is called No Inputs! Wink

[…]

Quote from: so98nn on April 07, 2022, 09:12:48 AM

Above addresses uniquely have these words: Lets, Full, Of, See, Dot, Topic. Kinda interesting to see them in one batch.

Seems like the spammer should consider a different text, this one is too hard to read for some:

Quote from: n0nce on April 07, 2022, 09:20:00 AM

You're trolling, aren't ya? Cheesy

No, unfortunately, he's not, he actually believes he's on to something. Much detective work Wink

Ohh I see.
But is there any explanation on how the spam address is generated? Like you said they are just out of spammy intention! Like what is exact purpose of all those addresses? Why anyone would want such addresses to send the coins. Or am I looking at it in wrong way?

Quote from: n0nce on April 07, 2022, 09:45:49 AM

No problem; just start with the learnmeabitcoin page, maybe Bitcoin Wiki; the coinbase transaction is not complicated, it is basically just a transaction without inputs. If there are questions, you probably can find your answers online or in this forum without even a new topic, since it's been discussed so much already.

I just had a look and in the first commit of the Bitcoin GitHub repo, these transactions were already called 'coinbase'.
https://github.com/bitcoin/bitcoin/blob/4405b78d6059e536c36974088a8ed4d9f0f29898/main.h#L438

Code:

bool IsCoinBase() const
{
    return (vin.size() == 1 && vin[0].prevout.IsNull());
}

Ohk, that’s lot of learning to do before I can understand the same. Thanks for the share. This will surely help everyone reading through this thread.

Ale88

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Quote from: Bitstar_coin on April 07, 2022, 07:39:30 AM

That gain would have been even more if whoever owns that wallet decided to sell during btc ath.

Yeah of course, the only problem is how do you know when bitcoin is at ATH? Grin

In the past I sold some other cryptos (not bitcoin) when they reach a new ATH, in a matter of weeks they did another 3-4x, so looking back everything looks easy and clear. At this point I simply sell when I'm happy with the amount of $ I'm getting for the sale, if after I sale it goes up again, well, it happens, I simply try not to think about it anymore.

LFC_Bitcoin

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$0.08 per BTC, ahhhh I only wish I was that early. I mean I’m lucky to have started my journey in 2014 but even just two years earlier would have been so much better. I guess the OP is a lesson to everybody, the best time to but bitcoin was in the past, the next best time is NOW.

cr1776

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Quote from: slackovic on April 07, 2022, 07:36:02 AM

Quote from: hugeblack on April 07, 2022, 07:14:34 AM

TXs ID:

- https://whale-alert.io/transaction/bitcoin/f92c199beefbd0da5312aecd86215a7e6c5b2e19e910fe0300b91aa25edcbb15
- https://whale-alert.io/transaction/bitcoin/181ee03f53c5d6fea6655572380f435b26bb64029fa274620438951a6a16009d

Source @whale_alert Twitter account.

A 50 million percent gain. At the time around 2010, Bitcoin value was about $0.08 which worth more than 53.7M at 43k levels

I guess someone's pretty happy getting out of a prison as a millionaire

If it was me, I would have probably sold that BTC looong time ago for a few thousand bucks.

There were a lot of people who did that (sold for a few thousand dollars). Likewise there were a lot of people who heard about bitcoin and then did nothing from 2010/2011/2012/2013 through ? ? ? ?. Similarly there were certainly some people who didn't sell and have just kept holding. I doubt they were in prison, lol. They were just patient. Who knows whether this person sold or just moved it to a different wallet/computer etc.

It is the ant and the grasshopper story: planning ahead vs instant gratification. Being the ant is difficult.

I would also add that I am sure there were plenty of people who moved coins during the bitcoin cash fork (fall 2017?) so that they could get the BCH coins and sell them so plenty of "old" addresses were moved then.

mk4

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Quote from: cheezcarls on April 07, 2022, 10:24:02 AM

If he would have sold those BTCs during it's then-ATH of around $68k, he would be a freaking trillionaire in my opinion. Until now, I've still regretted about not knowing BTC in its early days as I was just a guy who managed a family business and a virtual assistant at the same time without knowing about cryptocurrencies yet. How I wish the Quantum Realm really exists hehehe.

To be fair — there's a HUGE difference between knowing about Bitcoin early on, versus knowing about Bitcoin early on while actually digging deep and learning about it, see the importance of a decentralized currency despite the US dollar doing really really well, actually spend money to invest in it, and maintain conviction for longer than a decade.

A lot of us are fantasizing about knowing Bitcoin early, but let's not forget that it's very likely that most of us wouldn't have held with diamond hands. Tongue

Cookdata

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Quote from: Fundamentals Of on April 07, 2022, 09:00:26 AM

There are only a total of 118.75 Bitcoin right? So with Bitcoin's current price at $43,670.86, the total of the Bitcoin in fiat would only be $5,185,914.62. How come it is worth more than $53,700,000 today?

We can only guess why after more than 12 years the owner has finally moved his Bitcoin. Whether he has just gotten out of prison, or has only decided to make use of his Bitcoin after years of hodling, or has finally recovered his private keys, etc, he has made a huge wealth out of what used to be an insignificant amount.

I just had to view the transaction on whale alert and you are right, maybe Op mistakenly wrote that amount but still, isn't that a miraculous way of becoming a millionaire. Buying 118.75 bitcoin at $0.08 should be worth just $9.5, this is the highest level of discipline I have ever seen as a hodler despite when the price popped up to $20k, the owner never sell even now, it doesn't show that the user has liquidated it, it might be a change of keys/seed for maximum security.
Can a time traveller do a test of his power back to 2012, I want to check something briefly! Grin

cheezcarls

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Quote from: slackovic on April 07, 2022, 07:36:02 AM

Quote from: hugeblack on April 07, 2022, 07:14:34 AM

TXs ID:

- https://whale-alert.io/transaction/bitcoin/f92c199beefbd0da5312aecd86215a7e6c5b2e19e910fe0300b91aa25edcbb15
- https://whale-alert.io/transaction/bitcoin/181ee03f53c5d6fea6655572380f435b26bb64029fa274620438951a6a16009d

Source @whale_alert Twitter account.

A 50 million percent gain. At the time around 2010, Bitcoin value was about $0.08 which worth more than 53.7M at 43k levels

I guess someone's pretty happy getting out of a prison as a millionaire

If it was me, I would have probably sold that BTC looong time ago for a few thousand bucks.

If he would have sold those BTCs during it's then-ATH of around $68k, he would be a freaking trillionaire in my opinion. Until now, I've still regretted about not knowing BTC in its early days as I was just a guy who managed a family business and a virtual assistant at the same time without knowing about cryptocurrencies yet. How I wish the Quantum Realm really exists hehehe.

pakhitheboss

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Quote from: hugeblack on April 07, 2022, 07:14:34 AM

TXs ID:

- https://whale-alert.io/transaction/bitcoin/f92c199beefbd0da5312aecd86215a7e6c5b2e19e910fe0300b91aa25edcbb15
- https://whale-alert.io/transaction/bitcoin/181ee03f53c5d6fea6655572380f435b26bb64029fa274620438951a6a16009d

Source @whale_alert Twitter account.

A 50 million percent gain. At the time around 2010, Bitcoin value was about $0.08 which worth more than 53.7M at 43k levels

I guess the owner found his old laptop and was able to also recover the wallet. Those that thought that a lot of Bitcoin have been lost know now what those wallets owners never lost it but were just hodling.

n0nce

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not your keys, not your coins!

Quote from: so98nn on April 07, 2022, 09:36:02 AM

The fact that I myself mine, I never read in-depth to understand the first transaction in the block are called coinbase! But I am not a technical guy, I just read and build things. This is surely interesting topic to learn about. I think I will read in depth and also make topic about it in the beginners section. Nice idea! Thank you.

No problem; just start with the learnmeabitcoin page, maybe Bitcoin Wiki; the coinbase transaction is not complicated, it is basically just a transaction without inputs. If there are questions, you probably can find your answers online or in this forum without even a new topic, since it's been discussed so much already.

I just had a look and in the first commit of the Bitcoin GitHub repo, these transactions were already called 'coinbase'.
https://github.com/bitcoin/bitcoin/blob/4405b78d6059e536c36974088a8ed4d9f0f29898/main.h#L438

Code:

bool IsCoinBase() const
{
    return (vin.size() == 1 && vin[0].prevout.IsNull());
}

There are more references in the same file and also anywhere else that these methods are used.
It's pretty wild looking at 2009 code again; no tests, all very unstructured and stuff.. but exciting! This was still mostly out of Satoshi's 'pen', compared to today's codebase that is mostly rewritten. He also camel-cased everything; from 'BitCoin' to 'CoinBase'. Cheesy

Regarding the original topic, my bet is that an original 2009 Bitcoiner decided to move his funds to a new storage / new seed. Back in the day, people just mined and held hundreds of BTC on their PC's HDDs and he might just have thought 'it's time to move them to an offline or hardware wallet'. Maybe the PC died and he restored his private key (there were no seed words) from a backup and moved the funds. I also don't believe the 100BTC were sold.

stompix

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Quote from: so98nn on April 07, 2022, 09:12:48 AM

Got some doubts on this one with big story going back of the mind. Like COINBASE was mining before and they were planning the foundation of same.
Is it from the Coinbase owners or something like that?
Coinbase was founded in 2012. However the sending party is COINBASE which include comment like (Newly Generated Coins).

The very first unspent transaction came to the parent address: 1CUe12WDAo1DadWj1Y7XMXV2J8PiGsn2F1 surprisingly from COINBASE. Dated and time stamp 2009-11-23 08:02

You're completely mistaken
https://bitcoinblockexplorers.com/tx/a870a40b00c92142ea1cf417838e4685cf8d4bf5e719e4efa348768400018e72

You can see there that the company is called No Inputs! Wink

Quote from: so98nn on April 07, 2022, 09:12:48 AM

Above addresses uniquely have these words: Lets, Full, Of, See, Dot, Topic. Kinda interesting to see them in one batch.

Seems like the spammer should consider a different text, this one is too hard to read for some:

Quote from: n0nce on April 07, 2022, 09:20:00 AM

You're trolling, aren't ya? Cheesy

No, unfortunately, he's not, he actually believes he's on to something. Much detective work Wink

so98nn

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Quote from: n0nce on April 07, 2022, 09:20:00 AM

Quote from: so98nn on April 07, 2022, 09:12:48 AM

~

You're trolling, aren't ya? Cheesy

In case you're not: The 'Coinbase' company was founded in 2012.
Ever wondered how they came up with their name?

A coinbase transaction is the transaction that grants a miner their block reward & the transaction fees.

Quote from: https://learnmeabitcoin.com/technical/coinbase-transaction

[...]
A coinbase transaction is the first transaction in a block. Miners use it to collect the block reward, and any additional transaction fees.

It’s like putting your details on a self-addressed envelope so you can collect prize winnings.

Those tiny transactions going to what seem like Bitcoin addresses containing words, are just spam. Those UTXOs are unspendable since the addresses are actually invalid.

I was just making the story out of those clues. But its good to have detailed explanation above to understand what it is actually.
Yes, I knew that Coinbase was founded in 2012 and mentioned the same above. However, I was just trying to figure out whether they already had a plan to invest in future exchange and wallet program.

Quote

Those tiny transactions going to what seem like Bitcoin addresses containing words, are just spam. Those UTXOs are unspendable since the addresses are actually invalid.

Wow, I did not know about this! Thanks for sharing this. I will read more about it.

The fact that I myself mine, I never read in-depth to understand the first transaction in the block are called coinbase! But I am not a technical guy, I just read and build things. This is surely interesting topic to learn about. I think I will read in depth and also make topic about it in the beginners section. Nice idea! Thank you.

n0nce

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not your keys, not your coins!

Quote from: so98nn on April 07, 2022, 09:12:48 AM

~

You're trolling, aren't ya? Cheesy

In case you're not: The 'Coinbase' company was founded in 2012.
Ever wondered how they came up with their name?

A coinbase transaction is the transaction that grants a miner their block reward & the transaction fees.

Quote from: https://learnmeabitcoin.com/technical/coinbase-transaction

A coinbase transaction is the first transaction in a block. Miners use it to collect the block reward, and any additional transaction fees.

It’s like putting your details on a self-addressed envelope so you can collect prize winnings.

Those tiny transactions going to what seem like Bitcoin addresses containing words, are just spam. Those UTXOs are unspendable since the addresses are actually invalid.

so98nn

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Activity: 2086

Merit: 603

Got some doubts on this one with big story going back of the mind. Like COINBASE was mining before and they were planning the foundation of same.

Is it from the Coinbase owners or something like that?

Coinbase was founded in 2012. However the sending party is COINBASE which include comment like (Newly Generated Coins).

The very first unspent transaction came to the parent address: 1CUe12WDAo1DadWj1Y7XMXV2J8PiGsn2F1 surprisingly from COINBASE. Dated and time stamp 2009-11-23 08:02

That Newly Generated Coins supposed to mean they were freshly mined I guess?

If you checkout the total transaction that happened in this address then you will find some interesting addresses involved.

Above addresses uniquely have these words: Lets, Full, Of, See, Dot, Topic. Kinda interesting to see them in one batch. Actually this is the batch where this address received more bitcoins. Afterwards they spent small amount in 2020 and now they have sent BTC 50.

Probably they are from Coinbase pre-party coins or may be some big players out there.

This is just hypothesis. Could be right could be really wrong. But it's fun to link such dots. Idk, while linking them found interesting addresses at least.

darkv0rt3x

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This can be even dangerous. Someone finding him/herself with so much money can get crazy. Anyway, I hope the person can be cool enough of make some good investments after selling some of it (after all one needs to take some profit for the present amusement, no regrets) but be also able to think in the long run because the trend will always be the rise of Bitcoin in price, adoption, etc. So, what gained like 50 million, can be 100 million in a few more years!

Just hope the motherfucker isn't a Russian! (no intention to harass anyone, it's just a joke).

Fundamentals Of

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Quote from: hugeblack on April 07, 2022, 07:14:34 AM

A 50 million percent gain. At the time around 2010, Bitcoin value was about $0.08 which worth more than 53.7M at 43k levels

There are only a total of 118.75 Bitcoin right? So with Bitcoin's current price at $43,670.86, the total of the Bitcoin in fiat would only be $5,185,914.62. How come it is worth more than $53,700,000 today?

We can only guess why after more than 12 years the owner has finally moved his Bitcoin. Whether he has just gotten out of prison, or has only decided to make use of his Bitcoin after years of hodling, or has finally recovered his private keys, etc, he has made a huge wealth out of what used to be an insignificant amount.

pooya87

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Quote from: slackovic on April 07, 2022, 07:36:02 AM

If it was me, I would have probably sold that BTC looong time ago for a few thousand bucks.

And that's exactly why you are not a millionaire

Quote from: slackovic on April 07, 2022, 08:32:41 AM

I'm pretty sure no one would sell BTC for $44k after holding it for twelve years.

Just because they moved it doesn't mean they were sold, there is also no evidence that suggests otherwise either.

slackovic

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Quote from: Bitstar_coin on April 07, 2022, 07:39:30 AM

That gain would have been even more if whoever owns that wallet decided to sell during btc ath.
I just can't believe how people are able to have such self control with btc for this long, I don't know what I would have done if I were in their shoes, (am like processing it in my head) Grin

How do you know that the owner of that wallet didn't just find that wallet and that's why he didn't move BTC before? I'm pretty sure no one would sell BTC for $44k after holding it for twelve years. OK, maybe if the owner has some kind of emergency and he/she needs money ASAP.

Bitstar_coin

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That gain would have been even more if whoever owns that wallet decided to sell during btc ath.
I just can't believe how people are able to have such self control with btc for this long, I don't know what I would have done if I were in their shoes, (am like processing it in my head) Grin

Wind_FURY

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Those old UTXOs, before the scaling debate, and before the altcoin BCash and its fork BCash SV, and other forks like Bitcoin Gold, are VERY valuable. The owners can retrieve those Bitcoin forkcoins, and they can sell them for the real thing. Cool

slackovic

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Quote from: hugeblack on April 07, 2022, 07:14:34 AM

TXs ID:

- https://whale-alert.io/transaction/bitcoin/f92c199beefbd0da5312aecd86215a7e6c5b2e19e910fe0300b91aa25edcbb15
- https://whale-alert.io/transaction/bitcoin/181ee03f53c5d6fea6655572380f435b26bb64029fa274620438951a6a16009d

Source @whale_alert Twitter account.

A 50 million percent gain. At the time around 2010, Bitcoin value was about $0.08 which worth more than 53.7M at 43k levels

I guess someone's pretty happy getting out of a prison as a millionaire

If it was me, I would have probably sold that BTC looong time ago for a few thousand bucks.

Topic: Dormant Address Containing 100 BTC Activated After 12.4 Years When BTC Was $0.08 - page 2. (Read 479 times)