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Author Topic: Pattern of Transaction in Blockexplorer  (Read 749 times)
Forp
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July 04, 2011, 09:41:56 PM
 #1

I am trying to make my daily advancement in Bitcoin knowledge and got stuck again.   Cry

Trying to understand the blockchain a bit better, I stumbled upon this transaction here:

http://blockexplorer.com/tx/719eb1028a473ac8e804be26542ba3a90effd81e852f83774042ece9ff5bdd04

Looks like this is 1AZUP.... spending some of his/her hard earned bitcoins. But there are three things I do not understand.

Where is the economic sense of paying to 113 recipients in one transaction?

And how would one generate such a transaction?

I could come up with an idea to these two aspects: Probably the tx has not been generated by the GUI client but by a command line or RPC client. And, maybe, it is a mining pool paying out all the fellow miners in a single efficient transaction. Smart.

But how likely would it be that the recipients would ALL have their addresses start with the same prefix of "1Kr"  Huh   Huh

This probability is ...um... zero.  Shocked

So this is not the correct interpretation.

So what is the correct interpretation here ? What is the deeper mystery of things going on here Huh



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JoelKatz
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July 04, 2011, 10:22:02 PM
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Where is the economic sense of paying to 113 recipients in one transaction?
It's not unusual with pooled mining.
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I could come up with an idea to these two aspects: Probably the tx has not been generated by the GUI client but by a command line or RPC client. And, maybe, it is a mining pool paying out all the fellow miners in a single efficient transaction. Smart.
That is possible.

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But how likely would it be that the recipients would ALL have their addresses start with the same prefix of "1Kr"  Huh   Huh

This probability is ...um... zero.  Shocked
I agree. My bet is that some entity specifically generated those addresses to have that prefix. This would mean that all the accounts that were being paid had their private keys generated either by the same person or by different people using the same non-standard software.

Perhaps the responsible party will explain it in this thread. Perhaps not.

I am an employee of Ripple.
1Joe1Katzci1rFcsr9HH7SLuHVnDy2aihZ BM-NBM3FRExVJSJJamV9ccgyWvQfratUHgN
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July 06, 2011, 05:54:06 PM
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But how likely would it be that the recipients would ALL have their addresses start with the same prefix of "1Kr"  Huh   Huh

...issuing New Icelandic Króna backed by Bitcoin.

Greenlandic tupilak. Hand carved, traditional cursed bone figures. Sorry, polar bear, walrus and human remains not available for export.
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July 06, 2011, 10:41:28 PM
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...issuing New Icelandic Króna backed by Bitcoin.

Really? Gr8 !!

@Joel: Thanx !
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July 09, 2011, 09:54:07 AM
 #5

Maybe the pool hass thousands of addresses in its database and now its going through this list, ordered by address, and is paying out their shares. With many thousands of addresses in the database this might very well lead to 100 addresses starting with "1K"

Edit: What I find more interesting is that this pool seems to have no minimum account balance required to trigger the payout, I would be very interested to find out what pool this is, so I could join it with my slow CPU miners.

Old Bitcoins recycling and disposal: 1N7ZcHoe77JncRYAg27RVqJZbrjqUQ77WE
Blockchain.info -> Multibit converter (and much more) https://github.com/prof7bit/wallet-key-tool
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