Thursday, June 20, 2024

Certainly! Here’s a paraphrased version of the text:

Bitcoin’s value has been relatively unchanging, lingering just over $29,000, but an intriguing event happened on Saturday afternoon: a previously inactive batch of 195.79 bitcoins, stagnant since 2016, was transferred for the first time in over seven years. This was followed by another event in which a set of dormant bitcoins from 2014 was expended, signaling their first movement in nearly a decade.

$11 Million in Inactive Bitcoins Suddenly Activated

By August 12, 2023, a remarkable total of 391.305 BTC, estimated at $11.4 million, woke from its lengthy slumber. The phrase “sleeping bitcoins” refers to bitcoins that have been resting in an address, unspent and immobile for long durations.

These inert bitcoins, which often fascinate and spark speculation among crypto enthusiasts, get their “sleeping” label from being untouched in terms of trading or utilization. A substantial movement in these inactive assets might potentially cause fluctuations in the market.

Various reasons like lost access, intentional long-term cold storage, forgotten ownership, legal or inherited obstacles, or simply a planned decision to retain for a prolonged time might explain the existence of these dormant bitcoin wallets.

Specialized blockchain parsing tools like btcparser.com often discover these hidden caches, and it detected the spends from 2016 and 2014 on Saturday. The first awakening happened at block height 802,827, when 195.795 BTC, valued at an astonishing $5.7 million, was released from an address set up in March 2016.

The event occurred over four distinct transactions, all sent to the address “bc1qn.” In an interesting detail, the user had spent 195.795 bitcoin cash (BCH) completely on December 7, 2017.

Next, on August 12, 2023, at block heights 802,872 and 802,879, groups of 100 and 66.589 bitcoins were transferred, denoting their first movements since April 2014. Also, at those same block heights, 28.93 BTC from March 22, 2014, were transferred for the first time in over nine years.

The choice to utilize or shift sleeping bitcoins can be multifaceted, often influenced by an individual’s particular situation and a host of underlying elements. For instance, a substantial increase in bitcoin’s value might encourage owners to trade or sell their inactive holdings to seize profits.

Shifts in financial needs, anxiety over wallet safety, or the preference for a more robust storage approach might also stimulate these assets’ movement. Ultimately, the choice to activate sleeping bitcoins is a complex one, driven by an intricate blend of financial, legal, personal, strategic, and emotional factors.

What are your thoughts on the $11 million in bitcoins from 2016 and 2014 that were transferred on Saturday afternoon? Please share your insights and views on this topic in the comments section below.

Frequently Asked Questions (FAQs) about fokus keyword: sleeping bitcoins

What are ‘sleeping bitcoins’ and why are they significant?

Sleeping bitcoins refer to bitcoins that have remained inactive in an address, unspent and unmoved for extended periods. They can be significant because a substantial shift in these dormant assets might affect the market, and their awakening often leads to intrigue and speculation among cryptocurrency enthusiasts.

When did the notable movement of these sleeping bitcoins occur?

The notable movement occurred on August 12, 2023, when 391.305 BTC, valued at $11.4 million, stirred from long hibernation. Additionally, previous movements were detected on Saturday afternoon, involving bitcoins untouched since 2016 and 2014.

What tools are used to discover the sleeping bitcoins?

Specialized blockchain parsing tools, such as btcparser.com, are often utilized to discover these sleeping stashes of bitcoins.

What might prompt the movement or spending of sleeping bitcoins?

The decision to move or spend sleeping bitcoins can be complex and influenced by various factors like a significant surge in bitcoin’s value, changing financial needs, concerns about wallet security, or a desire for a more secure storage method.

Who was involved in the significant transactions, and how much were they worth?

An address established in March 2016 released 195.795 BTC worth $5.7 million. On August 12, 2023, groups of 100 and 66.589 bitcoins were transferred, along with 28.93 BTC from March 22, 2014. The total value of the transferred bitcoins on that day was $11.4 million.

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6 comments

Sara_T August 14, 2023 - 7:06 am

Can’t believe those bitcoins were dormant for so long. Imagine forgeting about that much money, wow!

Reply
JakeMiller August 14, 2023 - 7:23 am

That’s a ton of money waking up out of nowhere! Bitcoin never fails to suprise me, its like a treasure hunt.

Reply
cryptoFanatic22 August 14, 2023 - 11:23 am

Blockchain technology is fascinating, makes you wonder how much more is hidden and sleeping out there.

Reply
kellyInCrypto August 14, 2023 - 11:35 am

Why would anyone hold bitcoins for that long without doing anything with them. Lost access, may be forgotten? so many possibilities..

Reply
Maddy_01 August 14, 2023 - 2:12 pm

so those bitcoins were asleep for years and just woke up? who’s decision was that? i wouldnt be able to leave them untouched!

Reply
TomR. August 14, 2023 - 6:55 pm

Found the bit about using special tools like btcparser.com to discover these stashes very interesting! Never knew about that, but sounds cool.

Reply

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