Virgin Bitcoin is a term used to describe a bitcoin that has never been spent and therefore has no blockchain history. It differs from newly mined bitcoins, which have already had their ownership transferred at least once during the mining process. To be considered “virgin” or unspent, the bitcoin must not have ever been sent or received on the blockchain.
The concept of virgin bitcoins was introduced in early 2017 by cryptocurrency commentator Tuur Demeester as a way to measure how much demand there is for new coins being generated through mining versus existing coins being bought and sold on exchanges. He argued that more money was flowing into buying existing coins than were going towards mining new ones, leading him to conclude that most of the circulating supply of bitcoins could be considered “virgin” since they had never been moved since they were first mined many years ago.
The concept of virgin bitcoin can also refer to any coin with an unknown origin or purpose on the blockchain – these are sometimes referred to as “anonymous bitcoins” because it is impossible for anyone other than those who created them to know why they exist or where they came from. This makes them interesting from both an investment perspective (as long-term holders may find themselves in possession of valuable assets) and from a technical standpoint (as researchers try to uncover hidden patterns in how anonymous transactions take place).
Although virgin bitcoin can represent an interesting opportunity for some investors, it should be noted that such investments come with risks due to their lack of transparency and traceability on the blockchain compared with regular transactions. Additionally, there may also be regulatory considerations depending upon your jurisdiction when dealing with anonymous coins as certain governments may view them suspiciously due to their ability to mask illegal activity such as money laundering or tax evasion.
