As a seasoned crypto investor who has witnessed the evolution of this digital gold rush from its infancy, I find it nothing short of astonishing to learn that a miner wallet containing 250 BTC, mined way back in 2010, has finally been activated to transfer $13.95 million worth of Bitcoin. Back then, mining was as simple as running the Bitcoin-Qt software on an ordinary CPU, and the market capitalization of this revolutionary cryptocurrency barely managed to top a million dollars.
As a crypto enthusiast, I’ve recently learned that a miner wallet, dormant for over a decade, has been activated to move approximately $13.95 million in Bitcoin. This fascinating discovery comes from the data provided by the cryptocurrency analytics platform, Lookonchain.
The miner earned 250 BTC from mining all the way back in 2010.
As a researcher looking back, I can recall that at an earlier stage, it was feasible for individuals like myself to mine Bitcoin using standard central processing units (CPUs). Remarkably, this process of mining served as the primary method for acquiring the cryptocurrency. It’s interesting to note that Bitcoin Market, one of the pioneering Bitcoin cryptocurrency exchanges, didn’t come into existence until February 2010.
Back in July 2010, the initial Bitcoin block was mined using a GPU (Graphical Processing Unit). At that time, all it took to mine was downloading and operating the Bitcoin-Qt software. However, as time passed, FPGA (Field Programmable Gate Array) mining grew popular in 2011, only to be surpassed by ASIC (Application-Specific Integrated Circuit) mining in 2013. Today, cryptocurrency mining has become a vast industry, primarily controlled by large companies with substantial resources.
Bitcoin’s market capitalization managed to top $1 million only in November 2010. Now, the cryptocurrency’s market cap stands at $1.1 trillion.
Back in June, as reported by U.Today, I stumbled upon an awakened Satoshi-era miner wallet – a rather uncommon event for me as a crypto investor.
Significantly, the enigmatic inventor of Bitcoin made their final exit from the BitcoinTalk forum on December 13, 2010. Soon afterward, the first block in a mining pool was successfully mined, with assistance from Slush Pool.
2014 saw the brief online resurfacing of the Bitcoin inventor, who refuted a fake Newsweek piece claiming to unveil his true identity. Since then, there’s been no further news regarding him from the community.
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2024-08-07 10:26