Lots of weird information out there today regarding the movement of those old coins today from Feb 9, 2009.
Let's set the record straight
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Let's set the record straight
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First, people are saying that "they can't be Satoshi's coins BECAUSE they were sent to Coinbase, and Satoshi wouldn't dox himself like that".
I can find no evidence that these coins were sent to Coinbase. Likely, this is referring to the "coinbase" reward.
I can find no evidence that these coins were sent to Coinbase. Likely, this is referring to the "coinbase" reward.
The "coinbase reward" is a specific term in Bitcoin, and refers to the freshly minted coins from when a new block is mined.
The coins that moved today were directly spent from the "coinbase reward" of block 3654 on Feb 9, 2009.
"Coinbase" the company wasn't even around then.
The coins that moved today were directly spent from the "coinbase reward" of block 3654 on Feb 9, 2009.
"Coinbase" the company wasn't even around then.
Next, people are saying that these coins belong to Craig Wright, because he listed this address on a court document.
This document lists thousands of addresses that were all "unspent-from" at the time of its admission to the court. They were all coinbase transactions.
This document lists thousands of addresses that were all "unspent-from" at the time of its admission to the court. They were all coinbase transactions.
Since it was released to the court, a few of those addresses have since been spent from. A few of those addresses have been proven (via signatures) to belong to other people.
Just because Craig claimed that this address belong to him, does not mean it belongs to him.
Just because Craig claimed that this address belong to him, does not mean it belongs to him.
It might, but that's un-provable until some cryptographic signatures get released proving that he was the one with the private key which moved these coins. SOMEONE has that key, after all. The transaction DID happen.
Finally, it's being rumored that Satoshi himself (whoever that is) was the one who mined these coins.
Again, that's also impossible to prove one way or another (there were multiple miners by February 2009), but chances are it was NOT Satoshi.
Again, that's also impossible to prove one way or another (there were multiple miners by February 2009), but chances are it was NOT Satoshi.
Why do I say that? By looking at public Bitcoin blockchain data.
Early versions of the original Bitcoin mining software kept track of how many blocks it found over time, and inserted that number into the "extraNonce" field of block headers.
Early versions of the original Bitcoin mining software kept track of how many blocks it found over time, and inserted that number into the "extraNonce" field of block headers.
We all mostly agree that "Satoshi" mined MOST of the bitcoins in the first year of its creation.
(shout out to satoshiblocks.info)
If we chart the "extraNonce" field w/ block number, we can see a clear pattern of a miner who was responsible for MOST of the blocks early on.
(shout out to satoshiblocks.info)
If we chart the "extraNonce" field w/ block number, we can see a clear pattern of a miner who was responsible for MOST of the blocks early on.
The blue "lines" (which are points - single blocks) are the blocks which most people agree were mined by Satoshi.
There is nothing special about them other than they are marked blue to identify them easier. These blocks were likely mined using the same mining software.
There is nothing special about them other than they are marked blue to identify them easier. These blocks were likely mined using the same mining software.
After a while the software "reset" the extraNonce back to zero and started counting up again.
You can see other miners who were mining at that time too (the less-steep green lines). They mined lots of coins, but whoever was controlling the hashrate of the steep lines mined most.
You can see other miners who were mining at that time too (the less-steep green lines). They mined lots of coins, but whoever was controlling the hashrate of the steep lines mined most.
Again, most people assume that this was Satoshi. NONE of the coins from any of the blocks which are colored blue have moved. NEVER.
The block reward which mined today, block 3654, was not one of those blue blocks.
This miner was LIKELY not Satoshi.
This miner was LIKELY not Satoshi.
I came to all of my conclusions here just by looking at public data, not by believing what anyone else is talking about. I HAVE been seeing lots of bullshit about this event, though, which prompted me to write this. If anything is wrong, please correct me.
Oops i didn't mean to attach a picture to this tweet
I'm somewhat wrong about this
The "blue" blocks are blocks in which the coinbase transaction is still unspent. "Green" means that the transaction has been spent.
So all of those blue blocks in a nice line are still unspent (aka likely Satoshi's coins).
The "blue" blocks are blocks in which the coinbase transaction is still unspent. "Green" means that the transaction has been spent.
So all of those blue blocks in a nice line are still unspent (aka likely Satoshi's coins).
Update: I've seen rumors saying that there's a Chainalysis screenshot showing that some of these sats ended up at Coinbase (the company).
But I haven't seen that screenshot. Even so, who cares, really.
"the block reward which MOVED* today ..."
