Javier Hernandez In a remarkable event on July 24, 2023, a block reward dating back to 2010 was finally moved for the first time in 13 years. This occurrence marks the first instance this year of dormant bitcoins from that era being spent, and it becomes the ninth such transaction to take place in 2023, resulting in a total transfer of 450 bitcoins.
The Spending of the 2010 Block Reward – The Ninth Transaction This Year
According to btcparser.com, an unusual 2010 block reward was expended on Monday, involving the transfer of 50 bitcoins to an undisclosed address. While 50 bitcoins may not seem substantial today, their value stands at an impressive $1.4 million due to the surge in Bitcoin’s price. It is worth noting that back in 2010, these bitcoins were essentially worthless, as Bitcoin had not surpassed five cents until July 17, 2010.
The transfer was initially made to a specific bitcoin address and subsequently moved from there. The privacy tool used by Blockchair assigned a “low” privacy level and a score of 5 out of 100 to this transaction, citing three issues. These issues included the fact that the funds were swept, the repeated appearance of the same address in the inputs, and the usage of diverse input types.
This marked the ninth instance in 2023 of a 2010 block reward being moved, with the last known transactions from this era occurring on June 26. On that particular day, two transfers took place, amounting to a total of 100 bitcoins. Notably, both block rewards were acquired on July 12, 2010, suggesting a common source for their movement.
Throughout 2023, a total of nine 2010 block reward transfers have been noted, with eight of them being virgin, dormant bitcoin rewards. A previous transaction on April 22, 2023, involved a 50-bitcoin block reward, but it was discovered that a small amount of 0.00001094 BTC had been spent from the same wallet on August 10, 2021. The remaining eight transactions, including the recent one, involved entirely untouched block rewards that had remained inactive for 13 years.
The Significance of the 2010 Block Reward Spend
The recent event, where a 2010 block reward was moved after being dormant for well over a decade, has sparked curiosity and interest within the cryptocurrency community. The rarity of such occurrences and the value these early bitcoins now hold make it a topic worth discussing. If you have any thoughts or opinions on this fascinating subject, feel free to share them in the comments section below.
Table Of Contents
Frequently Asked Questions (FAQs) about bitcoin block reward
What happened with the 2010 Bitcoin block reward on July 24, 2023?
On July 24, 2023, a 2010 Bitcoin block reward, which had remained dormant for 13 years, was finally transferred. This marked the first expenditure of such bitcoins this year.
How many 2010 block rewards have been spent in 2023?
In 2023, a total of nine 2010 block rewards have been spent, resulting in the transfer of 450 bitcoins.
What was the value of the 2010 block reward transferred?
Although the 2010 block reward involved the transfer of 50 bitcoins, its value amounted to an impressive $1.4 million due to the surge in Bitcoin’s price since its acquisition.
What were the privacy concerns with the transaction?
Blockchair’s privacy tool assigned a “low” privacy level and a score of 5 out of 100 to the transaction. The concerns included funds being swept, repeated appearances of the same address in inputs, and the use of diverse input types.
Were there any previous transactions from the 2010 era this year?
Yes, there were previous transactions from the 2010 era this year. On June 26, two transfers took place, totaling 100 bitcoins. Notably, both block rewards were acquired on July 12, 2010, suggesting a common source for their movement.
How many untouched block rewards were moved in 2023?
Out of the nine 2010 block rewards spent in 2023, eight of them were entirely untouched, having remained inactive for the entire 13-year period.
What significance does this event hold for the cryptocurrency community?
This event has sparked curiosity and interest within the cryptocurrency community due to the rarity of such occurrences and the value these early bitcoins now hold. It prompts discussions about early cryptocurrency transactions and their impact on the present market.
More about bitcoin block reward
- btcparser.com: https://btcparser.com
- Blockchair: https://blockchair.com
- Bitcoin History Price Chart: https://www.coindesk.com/price/bitcoin
- Cryptocurrency News: https://cointelegraph.com/
- Bitcoin’s Whitepaper (Original): https://bitcoin.org/bitcoin.pdf
2 comments
50 bitcoins from 2010, valued $1.4 mil, sooo rare! privacy issue tho, but still fascinating history of crypto!
july 24, 2023, 2010 block reward moved, 1st time in 13 years. 9 rewards spent this year, 450 bitcoins! insane!