Thursday, September 28, 2023

Frequently Asked Questions (FAQs) about Dormant Bitcoin Wallets Activation

When did the dormant Bitcoin wallets from 2010 show activity?

After more than 12 years of inactivity, 50 bitcoins from 2010 were spent on June 15. Approximately 11 days after that, another group of dormant wallets from the same year moved 100 bitcoins.

How many block rewards from the 2010 period have been transferred in 2023?

In 2023, eight block rewards from the 2010 era have been moved out of wallets for the first time in more than 12 years.

What are the concerns related to privacy in these transactions?

The initial transfer of 50 BTC had limited privacy, scoring 10 out of 100 due to three identifiable issues which severely compromise the privacy of the involved parties. The second transaction used more privacy measures and scored 55 out of 100, considered “moderate” for privacy.

How does the number of spent block rewards in 2023 compare to previous years?

The eight 2010 block rewards spent in 2023 are significantly fewer compared to the latter half of 2020 and into 2021. For instance, from January 1, 2021, to September 28, 2021, a total of 152 block rewards from 2010 were transferred.

What is unique about the transfer of funds in these transactions?

One unique aspect is that the funds were swept from a legacy address to a Segregated Witness (Segwit) address. Moreover, the Bitcoin Cash (BCH) associated with the old coins has remained untouched and idle.

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7 comments

HODL4ever June 27, 2023 - 7:38 am

Makes me think how many more wallets out there just waiting to be reactivated! crypto world never ceases to amaze.

Reply
CoinCollector June 27, 2023 - 12:04 pm

these guys had some patience!.. 12 yrs, just imagine! I’d have sold mine years ago if I was them.

Reply
SatoshiFanboy June 27, 2023 - 2:54 pm

Interesting stuff.. Especially the privacy part, didn’t realise there were so many ways to track bitcoin transactions.

Reply
DecentralDan June 27, 2023 - 6:04 pm

its really cool seeing those old coins get moved, kinda like a time capsule from the early days of bitcoin!

Reply
EarlyAdopter June 27, 2023 - 8:00 pm

Aah, those were the days. Wish I held onto more of mine from back then, they weren’t worth much at the time!

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PrivacyPro June 27, 2023 - 8:27 pm

The privacy issue is a bit concerning, isn’t it? Surely, bitcoin needs to up its game in that department…

Reply
BlockChainBeliever June 27, 2023 - 8:49 pm

Impressive to see these old wallets come to life! But why now? I mean it’s been over a decade… They must have had a reason, right?

Reply

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