Thread by @lilleputt1

After some intel gathering and exploring of the blockchain, I've finally gotten a missing piece to the puzzle, UTXO

Let me try to explain as best I can

#FollowingTheMoney #CryptoNetwork

The best way of looking at it is to compare it to cash, this is gonna get a bit technical.

If you have say $16 in cash, you don't have a 16 dollar bill.

It would, for an instance, be 10 dollar bill + 5 dollar bill + 1 dollar bill

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If you have a 20 dollar bill and you're going to pay John $10, you wouldn't rip the 20 dollar bill in two and give John half

You'd give John the $20 and receive $10 back

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On the Blockchain this would look like someone splitting money into 2

Because that's what you're doing in essence

This also explain a weird loop I found in one of the wallets (Unrelated to this)

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Now what kind of statement can we derive from this?

When ever we run across this pattern: One input, two outputs we know one of three things are being done

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1. Money is being split up into two and changing hands
meaning the outputs are 2 separate entities

2. Money is being moved into output 1 and the UTXO goes to a new address (Output 2)

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3. Money is being moved into output 2 and the UTXO goes to a new address (Output 1)

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Excluded this one from the chain...

blockchain.com/explorer/addre…

It's the green one in the bottom right in this picture

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But this is interesting...

So went back and looked at this

blockchain.com/explorer/trans…

That's the one were I thought someone was buying bitcoin off of a payment processor

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Isn't it weird that the change wallet (The rest were a payment processor would put their UTXO) has 6 BTC in it... What are the odds...

Better call off your dog censoring people on Twitter and YT

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A trick I figured out

I'll mainly be using the thread under as a reference if we run in to multiple inputs AND outputs transactions

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https://twitter.com/lilleputt1/status/1621667423404396544

Now using that we can go look at output 1 for this transaction

blockchain.com/explorer/trans…

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This output is too neat to be a payment processor

Whole BTC going into one account on three separate occasions is not something a payment processor would do...

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blockchain.com/explorer/addre…

On the network map it looks like this

The transaction in question above is the purple rectangle

The green circle in the upper right hand corner is output 1 on this transaction

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The last two transactions on this send to the same address, the green one in the top right on the map

Meaning it's not a payment processor

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blockchain.com/explorer/addre…

There is also this

Full transaction history only shows one transaction where the BTC amount is not in whole BTC

Safe to assume this is not a Payment Processor

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Seeing as all the incoming transactions are coming from different Bitcoin addresses I will be stepping away from this address for a bit

Next one down the line is

blockchain.com/explorer/addre…

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This looks like a blockchain miner address

Let’s go look at the pools they are connected to

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It’s linked to two pools

This

blockchain.com/explorer/addre…

And this

blockchain.com/explorer/addre…

#FollowingTheMoney #CryptoNetwork