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Author Topic: Satoshi only spent 50 BTC. Here's where those coins are now  (Read 18613 times)
Taras
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March 29, 2014, 06:48:27 PM
 #1

Now, citing Sergio's research, satoshi mined a lot of BTC. In fact, almost (or exceeding) BTC1,000,000.
He has a distinct pattern of mining, and only one block that is confirmed to belong to satoshi has been spent.

Below is a representation of the 50 BTC from that one block -- block 9 -- as they were just after being mined.


I've traced -- by hand -- where every single one of these coins have gone. See the chart below:
Green = Unspent, Gold = Spent Go packers



Now we've all read that the first p2p transaction that occurred was satoshi sending Hal 10 BTC as a test.
You can see this transaction above. It's the original 50 BTC splitting into 40 BTC and 10 BTC outputs.

He later sent 10 BTC to someone else, and then he sent 1 BTC to someone, and then he sent a total of 11 BTC to the same pseudonym,
which in my chain archaeology thread is referred to as Bbz. Bbz mined block 360, and then combined the coins from that block with the 11 he got from satoshi. Unfortunately, Bbz is no longer with us-- they vanished long before satoshi did. Maybe one day they'll find their 61 BTC and return to us.

Satoshi still has 18 BTC from this block.

The 10 BTC Hal got were probably donated to a couple organizations but I didn't look too far into it.
There's 1.69 BTC there left unspent. It's possible they belong to Hal, or a friend of his.

Two of the separate coins were mixed in with thousands of others into huge whalewallets.

That leaves 6.31 BTC. Well, they're still moving today, and it's highly probable - unless your bitcoins are brand new - that there's a little bit of satoshi nakamoto's bitcoins in your wallet Grin

Here are those 50 BTC split up accordingly:

中文图形 http://i.imgur.com/Aml6sv3.png Wink

As the first block ever spent (and for several days 100% of circulating bitcoins) it's interesting to see where all the coins wound up, and nice to know that we all probably have a little of their taint. Smiley
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March 29, 2014, 07:43:14 PM
 #2

thanks.

1. when was the time he mined? Until late 2010? can we know he didn't mine later? I assume your estimate is a lower bound. I assume he didn't invest in ASIC's.

2. how certain is the 1MBTC? He could easily be the richest man in the world in a couple of years.
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March 29, 2014, 07:47:14 PM
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Of course he is hiding. Ha-ha! Grin Grin Grin Cheesy

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March 29, 2014, 07:50:47 PM
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thanks.

1. when was the time he mined? Until late 2010? can we know he didn't mine later? I assume your estimate is a lower bound. I assume he didn't invest in ASIC's.

2. how certain is the 1MBTC? He could easily be the richest man in the world in a couple of years.
Satoshi, having observed that the blockchain can now support itself without him, disappeared from public in 2010, and vanished completely in 2011.

The lower bound I believe is 985,000 BTC.

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March 29, 2014, 08:01:38 PM
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Of course he is hiding. Ha-ha! Grin Grin Grin Cheesy
图形中加入中国形式 Wink http://i.imgur.com/Aml6sv3.png

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March 29, 2014, 08:40:32 PM
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Great job.

What is "Early adopter cold storage"?
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March 29, 2014, 08:41:40 PM
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Great job.

What is "Early adopter cold storage"?
Basically a wallet not connected to the internet where a long time bitcoin user keeps their stash. Smiley

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March 29, 2014, 09:15:45 PM
 #8

Taint is good - it defeats the whitelisters.

In the future there will be tainting services for this purpose.

Taint all the coins!!

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March 29, 2014, 09:22:57 PM
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Another excellent, informative thread.

It is ok not to be British. Some nice people are not. But damn you with your 'damn fish and chips'. Also, we have faggots, yum.

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March 29, 2014, 11:29:51 PM
 #10

OP, very interesting...thanks

"It's so funny in the culture how, something that seems marginal and ridiculous
is more or less true, it's just ahead of its time." -- Richard Linklater
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March 29, 2014, 11:32:02 PM
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Good work OP, thanks for your effort.

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March 30, 2014, 12:11:04 AM
 #12

Excellent work. It all looks pretty and I love the thought of having some of Satoshi's first bitcoin in my wallet.

Planning to launch Zimbabwecoin in the future. Focused on building a community around it now.
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March 30, 2014, 12:14:28 AM
 #13

great blockchain forensics! love the graphics!

CORTEX7 Multi exchange Bitcoin trading client for Win, Mac, Nix, Android.
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Because it's sterile...


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March 30, 2014, 04:45:07 AM
 #14

But but the Newsweek reporter found Satoshi in California.  How can you say he is gone?  The news is ALWAYS right.  Nice write up.  I personally enjoy the anonymity of not knowing who created such a revolutionary form of currency or "property" if you live in the great US of A. 

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March 30, 2014, 04:48:21 AM
 #15

Wow thats pretty amazing
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March 30, 2014, 06:13:02 AM
 #16

Very interesting thanks, I don't know what to do with the informations but it was an entertaining read and I feel it is useful somehow

It makes me think of the fact that we are all breathing everyday atoms that were breath by Julius Caesars 2000years ago

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March 30, 2014, 08:57:27 AM
 #17

Its really great, I feel he spent small quantity of BTC

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March 30, 2014, 09:01:14 AM
 #18

Nice job!  Grin

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March 30, 2014, 09:07:35 AM
 #19

thanks.

1. when was the time he mined? Until late 2010? can we know he didn't mine later? I assume your estimate is a lower bound. I assume he didn't invest in ASIC's.

2. how certain is the 1MBTC? He could easily be the richest man in the world in a couple of years.
Satoshi, having observed that the blockchain can now support itself without him, disappeared from public in 2010, and vanished completely in 2011.

The lower bound I believe is 985,000 BTC.

And resurfaced in 2014 ....But, we want him to stay anonymous Smiley

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March 30, 2014, 09:51:20 AM
 #20

What software/site you used to analyze this?

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