An anonymous miner moved 100 bitcoins last week after letting his coins sit for more than 13 years. According to data from Blockchair, each bitcoin was valued at just 1 cent at the time. total 1 dollar.
Today these 100 bitcoins are valued at US$3.67 million (R$18 million). In total, there are more than 80,000 Bitcoin millionaires in the world, a number that grew by 60,000 this year after Bitcoin doubled in price.
As for the miner: the enthusiast mined his bitcoins when Satoshi Nakamoto was active in the development of Bitcoin. Considering all this, these bitcoins are considered from the ‘Satoshi era’, which lasts until December 2010.
Miner leaves 100 bitcoins idle for 13 years
In 2010, Bitcoin mining was carried out using regular processors and video cards, the same ones we use on our computers. Because Bitcoin’s price was still in the pennies, the industry was still run by enthusiasts and not large corporations.
One of these enthusiasts mined two blocks of Bitcoin between May and November of that year and received 50 BTC for each block. These 100 bitcoins were worth only $1, which must have encouraged the miner to leave his coins dormant.
Thirteen years later, the miner moved his coins for the first time in history after 13 years on the 7th, a Tuesday. Today the amount is estimated at R$18 millionabout half of the next Mega-Sena price.
According to data from the chain, the miner has moved his coins to two new addresses. Half of the amount appears to have gone to a broker, while another 50 bitcoins remain parked in another wallet.
While it is not possible to pinpoint the reasons that led the miner to move his coins after 13 years, a security company this week reported a vulnerability in wallets created in Bitcoin’s early years. Therefore, the safety of your money may have been an issue.
Finally, it’s worth noting that these coins are hardly owned by Satoshi Nakamoto, the creator of Bitcoin. After all, research shows that Nakamoto has more than 1.1 million bitcoins (R$197 billion) and that all these wallets are monitored.
Tether enters Bitcoin mining
When it comes to Bitcoin mining, the industry has evolved tremendously since the patient miner redeemed his 100 bitcoins. Today, for example, the sector is dominated by giants, many of which are listed on US and Canadian stock exchanges.
Another giant entering this market is Tether, famous for issuing the largest stablecoin on the market: USDT. On social media, Tether CEO Paolo Ardoino published a photo of containers housing his mining machines.
“One of Tether’s energy production and Bitcoin mining sites is doing well.”
One of the #Tether energy production and #Bitcoin mining sites are doing well. pic.twitter.com/6Z8o6A5OaE
— Paolo Ardoino 🍐 (@paoloardoino) August 24, 2023
In good humor, Ardoino responded to a critic who said that the project “looked cheap” because of its simplicity. “I agree with that”replied Ardoino, “We wanted swimming pools, paddle courts, saunas and a Michelin star restaurant, but you know… priorities”.
Other recent data on this industry shows that more than 50% of Bitcoin mining energy sources are renewable. The number beats every other sector, including banking and electric vehicles.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
