Bitcoin Forum

http://anonymouse.org/cgi-bin/anon-www.cgi/http://img831.imageshack.us/img831/2189/unbenanntnuk.png (http://imageshack.us/photo/my-images/831/unbenanntnuk.png/)

I summon you, allknowing wisdom of the forum: Provide me with the meaning of this sign!

http://blockchain.info/charts/bitcoin-days-destroyed-min-year

Old coins are moving.

Right, but why so many at a time? Also it cannot be the same coins two times, because they would have to sit for another year before scoring again in the chart.

It would be interesting to know if those spikes are a lot of days and few coins or the opposite.  If its the same person removing the same # of coins (from big stash) you'd get an increase like this as the coins are getting older.  Living expenses for an early adopter who no longer has to work?

I don't know but you're unlikely to get any educated responses.  Whoever is doing it won't be blabbing and anyone else wouldn't know.

I dont care who it is, just what it is someone is doing here to produce this pattern.

If you have an address that has 1000 coins, the default client never just moves one of them and leaves the rest where they were. Normally, it moves all of them, sending one where you want it to go, and the other 999 to a new address.

So this doesn't mean that many coins are being spent, necessarily - just that they're being spent from a heavy purse.

Most of these spikes are hacks of various Bitcoin sites by the way, where all funds were moved out at once.

It's not just the default client. The protocol requires a complete input to be spent.