Maybe he just found an old computer or paper wallet which was though to be lost or something and that das was a very lucky day to get access again.
I have seen the wildest stories on youtube about people going to some specialist to recover some long lost data or wallet just to get this pleasant surprise.
If this isn't the case then a big shout out to him to preise the hodl mentality for this long!!
With all these ups and downs, especially over the past 6 years, this truely is an achievement!
Topic: Inactive BTC whale transfers $8M worth Bitcoin After 10 years Inactivity (Read 495 times)
April 26, 2023, 07:21:11 AM
April 26, 2023, 02:40:03 AM
Perhaps some whales want to transfer their bitcoins to a safe place because of rumours on the dark net that someone has been cracking old btc paper wallets.
https://twitter.com/crypto_bitlord7/status/1650604763585585167
https://twitter.com/crypto_bitlord7/status/1650604763585585167
April 26, 2023, 01:50:04 AM
Mysterious but true, an unknown Bitcoin whale transferred 278.88 ($8M) BTC from his 10-year inactive wallet to three different addresses on Friday after being completely inactive for the past 10 years.
There are lots of reasons as to why the sudden move of the 278.88 BTC from the inactive wallet to 3 different wallets but one of the reasons that comes into my mind is that the fund could have been kept as a kind of inheritance. Maybe, it is finally been splitted into 3 amongst the 3 beneficiaries or heirs.But a very significant part of the bitcoin is lost, especially in the early years of its existence, when it was valued very little and its safety was neglected. The owner of this wallet is very lucky. Not many people have the patience to resist the temptation and cash out the coins for their needs.
April 25, 2023, 02:40:02 PM
Mysterious but true, an unknown Bitcoin whale transferred 278.88 ($8M) BTC from his 10-year inactive wallet to three different addresses on Friday after being completely inactive for the past 10 years.
He originally bought and held 1,128 bitcoins in a wallet in 2012 and 2013 when the price of bitcoin was $12 and $195 respectively, but suddenly became active after 10 years and removed 279 bitcoins.
Here's it transferred explorers..
https://bitinfocharts.com/bitcoin/address/12At4GGP8J5p4MtdjNy1SPSkqKEM1mw2FS
How come a holder did not transfer his bitcoins after being inactive for ten years i.e. in 2021 when the price of bitcoins peaked, but in today's down market why did he transfer his bitcoins?
Having questions about;He originally bought and held 1,128 bitcoins in a wallet in 2012 and 2013 when the price of bitcoin was $12 and $195 respectively, but suddenly became active after 10 years and removed 279 bitcoins.
Here's it transferred explorers..
https://bitinfocharts.com/bitcoin/address/12At4GGP8J5p4MtdjNy1SPSkqKEM1mw2FS
How come a holder did not transfer his bitcoins after being inactive for ten years i.e. in 2021 when the price of bitcoins peaked, but in today's down market why did he transfer his bitcoins?
Why he didnt sell on peak?
Why he planned to make some action now on a bear market?
So there's possible reasons which i could make think of.
- Maybe he had that 10 year target or goal on which he would be making a selling or accessing his wallet after 10 years. Yes, there are people who do have strong will and discipline on
following up their goals and plans without having no doubt and on extreme manner.
-Maybe he had just recently remembered that he had purchased some Bitcoins wayback into those years and recently able to find out his keys? (No one knows)
These are the only possible reasons after a long time of inactivity. There's no way on finding out the actual reason considering those coins had been moving now
after a decade. It is really just that amazing to see on there are people who are really that diamond hands and now they've been cherishing out millions
of dollars just because of that patient that they had been trying out to resist to move those coins.
April 25, 2023, 02:33:36 PM
And they say governments control and monitor our financial activities, we the people are worse than governments, such people are the same working for govs, some nosey individuals.😉
April 23, 2023, 11:03:37 AM
How come a holder did not transfer his bitcoins after being inactive for ten years i.e. in 2021 when the price of bitcoins peaked, but in today's down market why did he transfer his bitcoins?
Ref:
https://twitter.com/lookonchain/status/1649387289745977344?s=19
https://decrypt.co/137493/bitcoin-whale-moves-nearly-8m-after-10-years-inactivity
We can think of possibilities such as the wallet have been forgotten, or lost and just recently found, and such. Diversification as well could be a possibility but bottomline is, we won't know unless the individual would introduce him/herself discussing what will he do and answering our why's. Ten years is a long interval and what we should be emphasizing is the length of time a huge amount was held 'coz if I were him, I have probably sold it on previous ATHs 'coz no one would expect corrections or higher market values or simply jo one has full control of the market price movement right? We just have our own reasons from doing things whether it is against the norm or not.
April 23, 2023, 10:56:19 AM
Someone just got out of prison after 10 years and then cash out his stash, Lol.
But who knows, your guess is as good as mine, maybe he just stumbled upon a old laptop and then see the private key and mnemonic phrase. And that is a long HODL though and it's just surprising that someone will suddenly move it when we are not even in the bull run.
The prison scenario seems like one of the more-likely ones to me. There are 100 other possibilites, from someone finding an old harddrive with the keys to being in need of some quick cash-flow for an unexpected reason.But who knows, your guess is as good as mine, maybe he just stumbled upon a old laptop and then see the private key and mnemonic phrase. And that is a long HODL though and it's just surprising that someone will suddenly move it when we are not even in the bull run.
However 280 BTC isn't a massive amount that would have any huge impact on the market at all.
Also, regarding your question about cashing out in the current market situation: I don't think the market is THAT bad right now, it's still up over 75% from recent lows, so if you know you need the cash within the next 6 - 12 months, now seems like a reasonable time to cash-out (even though I think going doller-cost-average over a period of a few months is usuall the better way).
Last thing, had I owned 1000+ bitcoin I would have split them a long time ago, you never know what could happen, I wouldn't feel safe having them all in one wallet.
April 23, 2023, 08:25:43 AM
He might have serious reasons why he doing this because it is unusual to move such a huge amount of BTC after a decade, I think most probably right now he needed some money or just wanted to keep it in a different wallet. There is some tendency that someone to get it from him and decided to steal it. anything has a possibility here and one thing we need to take a lesson from this, is we really need to know how to slowly move our BTC if we have that huge amount because moving it at once will lure all eyes on us and might gonna get us in trouble if we don't take care.
April 23, 2023, 07:52:41 AM
Who would know? Your guess is as good as mine. It's possible that the owner has finally just gained access to it. Or he/she finally decided to move the funds to a much safer storage, or perhaps even sell them.
But this isn't new. Every once in a while there's a dormant wallet that suddenly becomes active after a decade or even more. I think it was last year when a wallet containing hundreds of Bitcoin suddenly woke up after 11 years. The last time the wallet was active was when Satoshi was still active.
But this isn't new. Every once in a while there's a dormant wallet that suddenly becomes active after a decade or even more. I think it was last year when a wallet containing hundreds of Bitcoin suddenly woke up after 11 years. The last time the wallet was active was when Satoshi was still active.
I think there are endless possibilities for this. He may not intended to sell them even at the 2021 or 2017 prices, and we can award him a true holders trophy. I mean imagine, seeing the prices soaring and he was almost a billionaire by that time. The intentions seem way different than that, his hunger is far more than that and most importantly he has almost unbeatable trust in bitcoin for sure.
I think these groups will keep tracking where further the bitcoins are getting moved. If it hits the exchanger's destination address then we can claim that he might have needed those funds and just sold them.
What about the stolen case?
Is there a possibility that hackers are trying out their "luck" over dormant wallets such as this one?
Though it's next to impossible to brut force wallets, that's why I added the word luck.
April 23, 2023, 07:35:13 AM
There aee many whales who holds huge number of bitcoins but their wallets are dormant for long time and if you keep record of these transactions you would notice it's not new as many times they move funds from one wallet to another but saying why they were inactive during peak time is hard or maybe they didn't want to sell at that time so who knows.As others said maybe they got access back to their wallets so anything could be possible on which we should not be a worried a lot.
April 23, 2023, 07:20:44 AM
There could be countless reasons as to why the owner decided to move funds just now and not when the price was skyrocketing. The owner may have been well of financially and decided to not touch the funds if not necessary, or maybe he forgot his keys and managed to find it just recently. Whichever the case, this is a good thing since this just proves that not all inactive wallets mean that the coins within them are forever lost. And also with this, some hoarded bitcoins gets circulated in the market which is great for bitcoin in the long run.
April 23, 2023, 07:12:51 AM
Is this the reason behind the recent dump in BTC price?
There must be speculations about this when this kind of news comes out, but i don't think this is the reason, this whale didn't even send his BTC to an exchange to liquidate it, he just swept it into different new addresses, so the BTC is still in the network and amongst the circulating supply. BTC dumps happen for different reasons, not just one only, there may have been some combined reason why the price fell a little bit, but it is already going back up again. 
April 23, 2023, 06:57:16 AM
alot of people think that people need to be a strong/iron endurance holder to hold for 10 years
yet in the real world many people save for longer as standard
saving to put kids into college, =18 years
saving for retirement ~40 years
what people forget is not everyone is a day trader. alot of people do actually think about long term investing.
so dont be surprised by people hoarding coins for long periods.. its more common then people think
1130~ back then was not even $10k total
also 280 coin of 2012 was less then $2k total invested at the time. so its not like they were a whale when they first bought bitcoin
there are real whales with 10k -100k btc.... talking about someone with 1.2k btc is more of a shark than a whale
yet in the real world many people save for longer as standard
saving to put kids into college, =18 years
saving for retirement ~40 years
what people forget is not everyone is a day trader. alot of people do actually think about long term investing.
so dont be surprised by people hoarding coins for long periods.. its more common then people think
1130~ back then was not even $10k total
also 280 coin of 2012 was less then $2k total invested at the time. so its not like they were a whale when they first bought bitcoin
there are real whales with 10k -100k btc.... talking about someone with 1.2k btc is more of a shark than a whale
April 23, 2023, 06:50:52 AM
How come a holder did not transfer his bitcoins after being inactive for ten years i.e. in 2021 when the price of bitcoins peaked, but in today's down market why did he transfer his bitcoins?
We can only answer probabilities and no one knows the real reason why the whale withdrew his bitcoins, for sure he made more profit than what he deposited before, his investment was not wasted for 10 years, yes indeed it is quite strange for a long term bitcoin holder long that's why he's not looking for momentum at the best price of bitcoin, will raise some assumptions based on guesswork, but what is certain is that investing in bitcoin as long as it makes you a rich man and even if he is an old person it is enough for his old age, or he moving his wealth to what he wants in the real world and not minding the price. 
April 23, 2023, 06:06:46 AM
The funny thing is that most of these users are not even active on the spaces like Reddit or Bitcointalk, they dont even care what we speculate here but minding their own business with their coins. 
I know these type of topics end up inducing some fear and bearish emotions among newbies so anybody reading this keep in mind that people have their own liberty to whatever they want with their coins and that may or may not affect the market in what way we think.
As an older member of this forum it is my duty to inform newbies that what you see happening on social media or forums does not necessarily explain the bearish/bullish trend, rather it is a cumulative effect or many things that are beyond our control of coins being sent here and there. So control your emotions and treat them as just numbers not as panic pills.
I know these type of topics end up inducing some fear and bearish emotions among newbies so anybody reading this keep in mind that people have their own liberty to whatever they want with their coins and that may or may not affect the market in what way we think.
As an older member of this forum it is my duty to inform newbies that what you see happening on social media or forums does not necessarily explain the bearish/bullish trend, rather it is a cumulative effect or many things that are beyond our control of coins being sent here and there. So control your emotions and treat them as just numbers not as panic pills.
April 23, 2023, 05:45:17 AM
Is he a strong hodler, Did he just forget he owns those BTC, or he lost access and recently got it back? Who cares? It's his personal asset and he has every right to use it as he likes. Or maybe it's a case of hacking.
Even if he sells all of his hodlings, will that have an impact that will cause a major movement in the market? No. So there's nothing to worry about anything here.
Bitcoin is a long-term investment asset and this proves it very well. In the long run, you can gain unimaginable profits. It can not happen overnight. If anyone asks me now what can Bitcoin give you, I will just say if you have the will to hold it for a long period of time you can get what you are asking for. And I can show them this.
Even if he sells all of his hodlings, will that have an impact that will cause a major movement in the market? No. So there's nothing to worry about anything here.
Bitcoin is a long-term investment asset and this proves it very well. In the long run, you can gain unimaginable profits. It can not happen overnight. If anyone asks me now what can Bitcoin give you, I will just say if you have the will to hold it for a long period of time you can get what you are asking for. And I can show them this.
April 23, 2023, 03:28:26 AM
The only reasonable thing why that whale moved his bitcoins is problem there's something big that the owner is planning and that whale's need it just coincided with this market or maybe it's a personal kind of emergency, we will never know until the whale themselve speak up about the reason why, also the whale doesn't really lost anything, 30k USD compared to the price that he bought those bitcoins, that whale is still winning.
April 23, 2023, 03:23:25 AM
I really think the whale is kind of late, he/she should have withdrawn some crypto out when bitcoin price was around 70 grand, but wondering why now...and this certainly can't be about security...or maybe our whale is gifting some coins to the next generation in the family 
and btw taking out profits now not the best moves to be honest.
Am also assuming people with such wallets own several of these kind of wallets because 10.5years ago bitcoin was well discounted for anybody to buy a good amount for cheap, whatever the motive do spoil yourself you deserve it.
and btw taking out profits now not the best moves to be honest. Am also assuming people with such wallets own several of these kind of wallets because 10.5years ago bitcoin was well discounted for anybody to buy a good amount for cheap, whatever the motive do spoil yourself you deserve it.
April 23, 2023, 03:15:37 AM
He is spending full inputs and moving them into batches of ~90 BTC
Indeed, then it's most probably the original owner and he knows what he's doing.
Still the other scenarios can remain - more or less - on the table, from splitting for heirs (it doesn't have to be 3 heirs, the heirs don't have to get the same amount) to splitting for hardware wallets or simply keeping a couple of millions in various places scattered over the world (there was a family already claiming to do so or years).
Also this scenario also makes a lot of sense (and can add to the story) :
the owner has more than one Bitcoin address, and could have been using them all those years.
April 22, 2023, 02:59:11 PM
Probably Satoshi with his other unregistered wallets cashing in on that good good crypto money.
Kiddings aside, I think it's good at the very least. More bitcoins in circulation, less hassle when it comes to earning. And I don't think it's going to dilute bitcoin's value that much anyway, so at the expense of a higher circulating supply I'd say this is a great deal.
Speculating on who this guy might be though is a little bit futile I think? Bitcoin is made to be anonymous, let alone someone who didn't have any interactions with the industry for 10 and a half years, so while it is a good exercise, I don't think there's any point to finding out who this guy is. Besides, if they feel like it they will do what they can to out themselves as the guy who sold their bitcoins from years ago.
Kiddings aside, I think it's good at the very least. More bitcoins in circulation, less hassle when it comes to earning. And I don't think it's going to dilute bitcoin's value that much anyway, so at the expense of a higher circulating supply I'd say this is a great deal.
Speculating on who this guy might be though is a little bit futile I think? Bitcoin is made to be anonymous, let alone someone who didn't have any interactions with the industry for 10 and a half years, so while it is a good exercise, I don't think there's any point to finding out who this guy is. Besides, if they feel like it they will do what they can to out themselves as the guy who sold their bitcoins from years ago.
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