$15.5 Million in 'Sleeping Bitcoins' Was Awoken on Saturday: Report

On November 7th at 12:37 am EST, observers on the Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term noted that a number of Bitcoins were moved from a wallet that had not been moved since 2010. According to researchers from Btcparser.com, around 1000 ‘sleeping Bitcoins’, totalling roughly $15.5 million, were sent in a single transaction.

The BTC’s owner also sent the corresponding BCH, which was worth about $250,000. However, the sender did not touch the BSV associated with the coins.

2020: Year of the Zombie Coins

After the main transaction was sent to a single address, the receiving address sent portions of the stockpile to a number of other addresses.

It is estimated that there are roughly 1.5 to 1.8 million Bitcoins that are considered to be ‘sleeping’ or ‘zombie coins’ from the Satoshi era, meaning that they were last active during the time when Bitcoin creator, Satoshi Nakamoto was active in the space.

This most recent movement of ‘zombie coins’ is just one in a number of similar instances that have taken place this year.

For example, on March 11th, Bitcoin.com reported that a block reward earned in 2010 worth 1,050 BTC had been transferred, alongside the corresponding BCH and BSV. 151 days later, another block reward was moved on October 11, along with the corresponding BCH.

Since then, at least four more block rewards from 2010 have been sent for the first time in 10 years; on October 17th, 25th, 29th, and November 1st, approximately 200 BTC from 2010 was transferred. news.Bitcoin.com says that over the past several weeks, approximately 80 block rewards from 2010 have been moved; the total value of the coins was worth more than $62 million at press time.

It is unclear who controls the coins, why the coins are suddenly being moved after ten years, or if they are being sold to other Bitcoin hodlers. However, Bitcoin’s bullish movement past $15,500 last week could indicate that whoever is in charge of the coins could be preparing to sell them if the rally continues.