At 20:54 on the evening of May 20, the data on the Bitcoin chain showed that an address (17XiVVooLcdCUCMf9s4t4jTExacxwFS5uh) that had no transfer records since February 10, 2009 suddenly split 50 BTC into two (40 and 9.99) Transfer to two addresses.
Due to the sudden movement after 11 years, the transfer of this bitcoin has attracted the attention of people in the currency circle.
50 bitcoin address guessing clouds
Since Satoshi Nakamoto (Nakamoto Satoshi) was one of the few Bitcoin miners at that time, the block generation time of this address was very close to the time of the genesis block (January 3, 2009) It is speculated that there may have been a change in the account of Bitcoin founder Satoshi Nakamoto; however, some insiders said that the transfer may not necessarily be operated by Satoshi Nakamoto, but it may have been dug out by Satoshi Nakamoto The address was transferred to someone else. For example, when Satoshi Nakamoto was still around, a few developers came in and would definitely send some bitcoin out. It should not be Satoshi Nakamoto himself.
Subsequently, the Bitcoin market quickly responded. At 22: 45-23: 45 on the evening of May 20, Beijing time, it fell by US $ 300 in less than an hour, from US $ 9766 to near US $ 9421, a decrease of nearly 3%. According to Coin Coin data, within this hour, the entire network’s liquidation reached 454 million US dollars, of which the Bitcoin network’s liquidation was 352 million US dollars. The largest single liquidation occurred at Bitmex, valued at USD 47.78 million.
Bitcoin price movements since May 18
According to the data analysis of Tradingview, Bitcoin has broken the 10-day and 50-day moving averages, which is a sign of bearish sentiment. Bitcoin had fallen to a low of $ 9,100 on May 16.
This sharp decline in the market is mainly caused by a large number of investors panic selling. In March of this year, there was also a concentrated sell-off by investors in the bitcoin market, which led to trampling. A large number of leveraged derivative positions were liquidated and there was a plunge. Many stakeholders have published their own analysis of the Bitcoin market. Mostafa Al Mashita, head of business development at Secure Digital Markets, a Crypto asset management company, believes that the changes in the old address in 2009 will definitely scare Some speculators broke down, and they worried that early bitcoin players would exchange coins for cash. Although the current bitcoin price has recovered some from the decline, Al Mashita is concerned that the crypto market may be lowering.
Jose Llisterri, the co-founder of the crypto trading platform Interdax, said the incident highlights the importance of ‘address monitoring’, and this sell-off reminds traders to keep track of the oldest Bitcoin network Address, including the addresses of some giant whales, early miners, and the so-called “Satoshi coin” mined in the first few months of Bitcoin’s birth.
According to Glassnodes, part of the bitcoin transferred from the ancient address has flowed into the Coinbase and CoinPayments platforms, and the speculation that the transferred bitcoin address is the Satoshi account has continued to ferment since last night. Cointelegraph issued a document saying that this The address beginning with 17Xi appeared in court documents in the case of Kleiman and CSW, which was listed as his address. But CoinGeek founder and BSV supporter Calvin Ayre tweeted in response, Craig Wright (Australian Satoshi) confirmed that he was not selling coins.
On May 21, many data monitoring agencies and industry insiders also responded quickly, clarifying that they did not come from “Satoshi Nakamoto.”
Transfer transaction does not come from “Satoshi Nakamoto”
According to the analysis of Beijing Chain Security, the 17Xi BTC address dug a block at 02: 55: 1 on February 10, 2009. The first transaction record was 50 received from Coinbase on February 10, 2009. BTC mining income. But this block is already the 3654th block. Although it is in the early stage of Bitcoin, it is not a genesis block after all, so it can only show that this address holder is a very early participant of Bitcoin, but therefore thinks it is related to Satoshi Nakamoto There is no logical verification. According to the Tokenview block browser data, there are currently 50 BCH, BSV and other Bitcoin forks in the account that have not yet been transferred.
Source of account balance data in BTC addresses beginning with 17Xi: Tokenview
Bitcoin core developer Jimmy Song analyzed the article on Medium and said that the transfer was not done by Satoshi Nakamoto. Song said that Bitcoin suspected to belong to Satoshi Nakamoto showed that as each block is mined, there will be an additional nonce value increase. But the 3654 block and these blocks do not seem to be mined by the same person.
Nic Carter, the co-founder of CoinMetrics, also said that after their research, Satoshi Nakamoto mined a specific set of blocks. Those blocks believed to be mined by Satoshi Nakamoto have specific patterns in nonce, but block 3654 does not. The same pattern is displayed.
There has been a constant debate about true and false Satoshi Nakamoto and his Bitcoin. People generally find that huge Bitcoin wallets or transactions often associate Satoshi Nakamoto, but in fact, the uncertainty of the address is much greater than we know.
Dovey Wan, co-founder of Primitive Ventures, also posted on Weibo at the time of suspicion that she believed that the 50 bitcoins to be transferred were coins of an ancient god, not Satoshi Nakamoto. “Through online analysis, we can analyze all Satoshi’s block addresses. For details, please refer to satoshiblocks.info. Although I also hope that Satoshi is still watching this world quietly. In addition: some of the coins have been transferred to Coinbase , Satoshi Nakamoto will definitely not sell coins on Coinbase, KYC is kidding. “
Patoshi block and inverted timestamp (number of blocks / extra Nonce value) Source: satoshiblocks.info
“People need to calm down. If Satoshi Nakamoto is selling coins, he will definitely sell the most recently mined, and therefore the most anonymous. In addition, patoshi research is almost speculation, maybe his tokens are more than people think Less. “Adamstream CEO Adam Back tweeted today.
Market sentiment triggers market volatility
As of 17:00 on May 21st, Bitcoin once again stepped back to $ 9,400 (the current market is volatile, OKEx Intelligence Bureau reminds investors to pay attention to prevent risks). Analysts believe that downward selling pressure still exists and may have an impact on stakeholders, especially in the derivatives and mining sectors.
According to Coindesk reports, since the halving, the total daily reward of Bitcoin has dropped from around 1800 pounds to 900 pounds. Although mining difficulties have eased recently, miners are more sensitive to prices than ever before. Christopher Thomas, head of Crypto assets at Swissquote Bank, said that despite the active selling activity, the price of Bitcoin is still too high. “Bitcoin may be lowered to the support level of around $ 8,000 and may be further lowered to $ 7,300.”
Although 50 bitcoins are almost impossible to have such a huge impact on the market, investors in the currency circle are extremely sensitive to the news. In particular, the market has been in a turbulent period recently. The long and short sides have been engaged in a tug of war. The long and short sides are relatively sensitive. Some speculative unconfirmed news can still be amplified and used unilaterally, causing some panic. Spreading, investor group effects such as the appearance of a similar collective sell-off will exacerbate fluctuations in currency prices.
The OKEx Intelligence Bureau also recommends that the majority of investors be calm and do not rush to make investment decisions in the face of severe market fluctuations. They can observe further development and wait for the trend to be seen before proceeding. Professional traders can pay more attention to monitoring the movement of some large addresses on weekdays, pay more attention to accurate data sources, and do not be manipulated by panic emotions.