2009 coins on the move? Probably not Satoshi

[alani123]

Before there's more wild speculation about where these old coins that moved came from... Let's remember that bitcoin was revealed publicly by satoshi upon release. An archive of the emails posted by satoshi can be seen here: https://satoshi.nakamotoinstitute.org/emails/cryptography/ People were in theory able to become part of the network and use bitcoin, mine and transact with equal access as satoshi himself onward from the genesis block. Especially a month in the opperation.

By some of the early participants that publicly showed interest, its obvious that one of the earliest adopters of bitcoin was Hal Finney (may he rest in peace). This is all public information verified by the record of the same mailing list.

While we can't be sure who had mined the block that went in the address 17XiVVooLcdCUCMf9s4t4jTExacxwFS5uh specifically, we also shouldn't assume that those coins were lost. For example, Hal had admitted storing keys for coins he had mined for his family.

Here's Hal on the matter:

The next I heard of Bitcoin was late 2010, when I was surprised to find that it was not only still going, bitcoins actually had monetary value. I dusted off my old wallet, and was relieved to discover that my bitcoins were still there. As the price climbed up to real money, I transferred the coins into an offline wallet, where hopefully they'll be worth something to my heirs.

Not to rush to assumptions also, there's no evidence to suggest that these coins were Hal's for sure either! Hal's online trail is just evidence that it's more realistic to expect those coins being connected to an early bitcoin enthusiast other than Satoshi himself. For all we know, it could be someone that never publicly mentioned using bitcoin too!

Edit: a typo

[1714508647]

1714508647

[1714508647]

1714508647

[1714508647]

1714508647

[1714508647]

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[1714508647]

1714508647

[kryme]

I wonder if they realize they also have like $20,000 in forks they need to move too lol

[Baofeng]

I don't think Satoshi who moved this coins either. Hal could be a likely candidate and so are the dozens early miners. And for the record though, this is not the first time we have seen an old address which move 50 BTC. The last time we have seen this is 2017.

https://www.blockchain.com/btc/address/1724SVrgVffLtzDspyQ7HRjuARbevPRe3D



It is also interesting to note that the last time we seen this kind of movement, the price went -3%-5% but it was followed by a big upward trend, 20%-30%. I'm not saying that it could happened again. 

Also, this is good news for blockchain analyst or shall I call them "blockchain archeologist".

[Debonaire217]

~

Perhaps, the person "Hal" isn't the only one who handles the address shown above, meaning to say that there's really someone behind the move of this 50BTC.

Looking upon the implication of this activity, I do not find anything wrong or bad as I see it positively, that bitcoin, even though, bitcoins mined 10 years ago, is circulating up until now. No wonder why people should really value bitcoin as it can really be profitable in the long run.

[btc_angela]

This is making rounds on crypto related media already. And it seems that this news has affected the price negatively. And I'm also thinking that maybe some bad actors are going to take advantage of this news and create FUD. So just be careful guys, make your own conclusions and not just push that sell button if you hear someone tells that the price will go down hard because of this news.

[pooya87]

it is very likely that these coins were moved by an early miner as a middle finger to Craig Scammer Wright as the address that these coins came from was among the list of addresses that CSW claimed he owns and also more importantly claimed he has lost access to long time ago.
now the real owner anonymously moves the coins to show the middle finger to CSW and poke even more holes in his empty claims.

[jseverson]

Perhaps, the person "Hal" isn't the only one who handles the address shown above, meaning to say that there's really someone behind the move of this 50BTC.

Well I mean, it wouldn't have moved if there was nobody behind it lmao. Hal is just one of the possible owners based on when they were mined, and it's an incredibly short list (for the people who we know anyway -- Bitcoin was incredibly easy to mine back then, and there could be random anonymous people who have tried it silently).

Looking upon the implication of this activity, I do not find anything wrong or bad as I see it positively, that bitcoin, even though, bitcoins mined 10 years ago, is circulating up until now.

There shouldn't be any issue with this, but the common theme going on around now is that if this is Satoshi, he could possibly dump the 1m estimated coins he owns. It has to be noted that there is absolutely no evidence tying this to Satoshi and that a similar event has happened in 2017.

I don't think this will cause a significant dump, if at all, but it looks like we're going to have a fun topic for a few days lol, especially because of the issue pooya87 has mentioned. I expect a CSW statement soon.

[Darker45]

~

Perhaps, the person "Hal" isn't the only one who handles the address shown above, meaning to say that there's really someone behind the move of this 50BTC.

Probably so. Because the man is now resting in peace?

Anyway, there are already a number of experts saying the old Bitcoins are most probably not Satoshi's.

It is somewhat amusing in its irony that people are too interested to kind of wake up the man behind the legendary name but when a few tens of old Bitcoins are moving out of a decade-old slumber they suddenly become paranoid.

[pooya87]

Probably so. Because the man is now resting in peace?

it was not a sudden death so he had a lot of time to prepare. that means he has left whatever he had (private keys, backups, passwords,...) to his next of kin. so if these coins belong to Hal (and not some other early miner) then it is his family moving the coins.
considering the drama that has been going on with the CSW scam and the court this move makes a lot of sense to me.

[bbc.reporter]

Before there's more wild speculation about where these old coins that moved came from... Let's remember that bitcoin was revealed publicly by satoshi upon release. An archive of the emails posted by satoshi can be seen here: https://satoshi.nakamotoinstitute.org/emails/cryptography/ People were in theory able to become part of the network and use bitcoin, mine and transact with equal access as satoshi himself onward from the genesis block. Especially a month in the opperation.

By some of the early participants that publicly showed interest, its obvious that one of the earliest adopters of bitcoin was Hal Finney (may he rest in peace). This is all public information verified by the record of the same mailing list.

While we can't be sure who had mined the block that went in the address 17XiVVooLcdCUCMf9s4t4jTExacxwFS5uh specifically, we also shouldn't assume that those coins were lost. For example, Hal had admitted storing keys for coins he had mined for his family.

However, those coins were from 2009. 1 month only after creation! Also, where are the evidences that Satoshi only mined from 1 computer and if Satoshi was only 1 person?

I reckon the chances that it might be Satoshi is higher than what the bitcoin news media is telling us.

In any case, this is an article about Patoshi blocks and explanations on how those coins were not from Satoshi. It assumes that Satoshi was mining from only 1 computer, however.



The so-called Patoshi Pattern (developed by RSK software designer Sergio Demain Lerner) gives us a rough picture of Bitcoin’s mining landscape in the early months. Basically, this pattern looks at the “nonces” (i.e., the cryptographic hash that miners guess to connect a new Bitcoin block with an old one) left by what is believed to be a single entity (some believe Satoshi).

Patoshi blocks have a different nonce pattern (due to an old flaw in Bitcoin’s code) than other miners’ blocks, the analysis suggests. And as Castle Island Ventures partner Nic Carter points out on Twitter, the Bitcoin that were just spent came from a different block than the ones that belong to the Patoshi Pattern.

Source https://decrypt.co/29575/satoshi-nakamoto-didnt-just-move-bitcoin

[The1Duke]

I feel like people are making a way bigger deal about this than it is, it's probably some random early adopter and 50 BTC is not something that would drastically alter the way the market is going.

[Darker45]

Probably so. Because the man is now resting in peace?

it was not a sudden death so he had a lot of time to prepare. that means he has left whatever he had (private keys, backups, passwords,...) to his next of kin. so if these coins belong to Hal (and not some other early miner) then it is his family moving the coins.
considering the drama that has been going on with the CSW scam and the court this move makes a lot of sense to me.

There was pun intended.

Anyway, if this is indeed Hal's family, it's good to hear. The venerable man is still providing for his family years after he's gone.

If this is a middle finger for CSW, it's a wise move. He'll be held legally liable whichever way he chooses to respond to it, whether he says "yes, it's me moving those" or "no, it wasn't me." This early he denies it is him, although he hasn't released a more extensive statement yet.   

 

[bbc.reporter]

@Darker45. However, Hal came on 2010, correct? This is 1 year after the said 50 BTC coinbase was rewarded to the miner.

I speculate that the only miners 1 month after bitcoin's creation might predominantly Satoshi with different computers.

[slackovic]

@Darker45. However, Hal came on 2010, correct? This is 1 year after the said 50 BTC coinbase was rewarded to the miner.

I speculate that the only miners 1 month after bitcoin's creation might predominantly Satoshi with different computers.

I guess you didn't read the whole Hal Finney's post. He says:

...
Fast forward to late 2008 and the announcement of Bitcoin. I've noticed that cryptographic graybeards (I was in my mid 50's) tend to get cynical. I was more idealistic; I have always loved crypto, the mystery and the paradox of it.

When Satoshi announced Bitcoin on the cryptography mailing list, he got a skeptical reception at best. Cryptographers have seen too many grand schemes by clueless noobs. They tend to have a knee jerk reaction.
...

As you can see, he knew about Bitcoin in 2008. but that sentence "The next I heard of Bitcoin was late 2010" means that he again heard of Bitcoin in late 2010.

[Darker45]

@Darker45. However, Hal came on 2010, correct? This is 1 year after the said 50 BTC coinbase was rewarded to the miner.

Nope. We only have to remember that the first Bitcoin transaction was when Satoshi himself sent 50 BTC to Hal. That happened in January of 2009. So even before 2009, Hal was probably already active, so to speak, with Bitcoin.

I speculate that the only miners 1 month after bitcoin's creation might predominantly Satoshi with different computers.

Predominantly, yes, most probably. But it was definitely not Satoshi all alone. There were several others.  

[alani123]

@Darker45. However, Hal came on 2010, correct? This is 1 year after the said 50 BTC coinbase was rewarded to the miner.

I speculate that the only miners 1 month after bitcoin's creation might predominantly Satoshi with different computers.

I guess you didn't read the whole Hal Finney's post. He says:

...
Fast forward to late 2008 and the announcement of Bitcoin. I've noticed that cryptographic graybeards (I was in my mid 50's) tend to get cynical. I was more idealistic; I have always loved crypto, the mystery and the paradox of it.

When Satoshi announced Bitcoin on the cryptography mailing list, he got a skeptical reception at best. Cryptographers have seen too many grand schemes by clueless noobs. They tend to have a knee jerk reaction.
...

As you can see, he knew about Bitcoin in 2008. but that sentence "The next I heard of Bitcoin was late 2010" means that he again heard of Bitcoin in late 2010.

That's implying that he (probably) wasn't very involved for a while after launch. But he did mine some coins at first, as per the quote I made in OP. Really not much was happening in the first year of bitcoin's life.

[Bitcoinislife09]

~

Perhaps, the person "Hal" isn't the only one who handles the address shown above, meaning to say that there's really someone behind the move of this 50BTC.

Looking upon the implication of this activity, I do not find anything wrong or bad as I see it positively, that bitcoin, even though, bitcoins mined 10 years ago, is circulating up until now. No wonder why people should really value bitcoin as it can really be profitable in the long run.

Probably a lot of doubt that it is satoshi but we don't really know but holding for that long is really historic or maybe a legend. It doesn't make sense why it moves today but for sure we are going to experience the effects of this in the coming months. Everybody is getting excited about this since the bitcoin address received 50Biticoin just a week after the bitcoin is created.

We never know if its the real satoshi it might be someone that is just ready to invest in bitcoin at the beginning of all of this.

"The coins in this transaction were mined in the first month of Bitcoin's existence."

Link

Probably a history that this bitcoin is moved since it was mine just after the launch of bitcoin.  Maybe someone that is a real investor of a company has this bitcoin and needed the money because of COVID-19.

[pakhitheboss]

~

Perhaps, the person "Hal" isn't the only one who handles the address shown above, meaning to say that there's really someone behind the move of this 50BTC.

Looking upon the implication of this activity, I do not find anything wrong or bad as I see it positively, that bitcoin, even though, bitcoins mined 10 years ago, is circulating up until now. No wonder why people should really value bitcoin as it can really be profitable in the long run.

Probably a lot of doubt that it is satoshi but we don't really know but holding for that long is really historic or maybe a legend. It doesn't make sense why it moves today but for sure we are going to experience the effects of this in the coming months. Everybody is getting excited about this since the bitcoin address received 50Biticoin just a week after the bitcoin is created.

We never know if its the real satoshi it might be someone that is just ready to invest in bitcoin at the beginning of all of this.

"The coins in this transaction were mined in the first month of Bitcoin's existence."

Link

Why make such a big issue whether it is Satoshi or not?

Some veteran transferred it and it is evident by age of the wallet and the amount when it was mined. Why poke a nose into some ones affair.

Speculating whether it was Satoshi or not has to be stopped.

[yazher]

Why make such a big issue whether it is Satoshi or not?
Some veteran transferred it and it is evident by age of the wallet and the amount when it was mined. Why poke a nose into some ones affair.
Speculating whether it was Satoshi or not has to be stopped.

The date itself makes a big fuss because in our current era we rarely see such scenario that will probably lead to some clue to Satoshi's whereabouts. The theories in circulating in social media make this transaction big news and many have some theories on where could be this BTC transaction leads them. Honestly, whoever this guy is, he needs to be careful because all eyes are onto him now.

[Oasisman]

it is very likely that these coins were moved by an early miner as a middle finger to Craig Scammer Wright as the address that these coins came from was among the list of addresses that CSW claimed he owns and also more importantly claimed he has lost access to long time ago.
now the real owner anonymously moves the coins to show the middle finger to CSW and poke even more holes in his empty claims.

This make sense. Now, his credibility is once again being in question and this one is a strong evidence on his empty claims, as he admitted in the court that he didn't have the private keys and lost access to these old addresses.
Who's moving the coins then?
These event are like a 2 way trap for him.