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For a laymen like myself, why is this particular transaction posted here? Is this recently stolen coin or something, or just a curiosity because it's such a ri

For a laymen like myself, why is this particular transaction posted here? Is this recently stolen coin or something, or just a curiosity because it's such a ridiculously large amount?

dpiers 13y ago
These coins haven't (on average) been moved in the last 2.17 years. An extremely early Bitcoin player is moving coins around, and it just happens to be on the same day 'Satoshi Nakamoto' was doxxed. Coincidences are usually ignored, but now we're talking about $118 million dollars worth of coincidences.
- chx 13y ago
  Eh, it's only from 2011. These are more likely to be MtGox related coins than Satoshi coins.
  - ZoF 13y ago
    Noone knows for _certain_ which bitcoins are Satoshis, he may have tumbled his since initially mining them.
    - shawabawa3 13y ago
      I remember reading someone's analysis that suggested satoshi has never touched the vast majority of bitcoins he mined (based on the block's nonce you can figure out who the miner was in the early days) edit: source - https://bitslog.wordpress.com/2013/04/17/the-well-deserved-fortune-of-satoshi-nakamoto/ https://bitslog.wordpress.com/2013/04/17/the-well-deserved-f...
- jakejake 13y ago
  Ah yea, I didn't think about that. Thank you.
- r-u-serious 13y ago
  Coin-cidences! Hohoho!
  - dpiers 13y ago
    You're a punny guy!
    - na85 13y ago
      Take this crap back to reddit please.
    - s_kilk 13y ago
      Please, no reddit-style pun threads :)
      - dpiers 13y ago
        I forgot people here only like fun if it's followed by draising.
  - rainmaking 13y ago
    Thigh slapper :)
- duiker101 13y ago
  ok, so what?
devindotcom 13y ago
Furthermore, for those of us who aren't quite sure how the blocks and ownership work at this level, what about the other transactions of the 289321 block? What does 289321 signify, and what about the 29,999 BTC transaction listed here? http://blockr.io/block/info/289321 http://blockr.io/block/info/289321
- VMG 13y ago
  The block numbers are sequential, a new block is mined every ten minutes. A movement of 30k isn't very rare.
  - devindotcom 13y ago
    So this is a 2-year-old block, and ~$15 million (just estimating at ~500/btc) being shifted around in that set isn't abormal? (Not sure how recycling of big amounts works, I'm not being facetious)
    - kolinko 13y ago
      This is a 2-year-old address. Block is just a set of transactions. New block happens every 10 minutes and contains all the transactions that all the bitcoin users sent during that period. So, this one transaction is interesting because it involves an old address. Other transactions in this block are probably unrelated.
- taejo 13y ago
  > What does 289321 signify Just that it was the 289321th block to be mined on the mainline of the blockchain. > what about the other transactions of the 289321 block? These are just transactions that happened within approximately 10 minutes before the block was mined (precisely, those that reached the miner between 06:22:28 and 06:34:54 today -- times in UTC I guess).

For a laymen like myself, why is this particular transaction posted here? Is this recently stolen coin or something, or just a curiosity because it's such a ridiculously large amount?

dpiers 13y ago

These coins haven't (on average) been moved in the last 2.17 years. An extremely early Bitcoin player is moving coins around, and it just happens to be on the same day 'Satoshi Nakamoto' was doxxed. Coincidences are usually ignored, but now we're talking about $118 million dollars worth of coincidences.

chx 13y ago
Eh, it's only from 2011. These are more likely to be MtGox related coins than Satoshi coins.
- ZoF 13y ago
  Noone knows for _certain_ which bitcoins are Satoshis, he may have tumbled his since initially mining them.
  - shawabawa3 13y ago
    I remember reading someone's analysis that suggested satoshi has never touched the vast majority of bitcoins he mined (based on the block's nonce you can figure out who the miner was in the early days) edit: source - https://bitslog.wordpress.com/2013/04/17/the-well-deserved-fortune-of-satoshi-nakamoto/ https://bitslog.wordpress.com/2013/04/17/the-well-deserved-f...
jakejake 13y ago
Ah yea, I didn't think about that. Thank you.
r-u-serious 13y ago
Coin-cidences! Hohoho!
- dpiers 13y ago
  You're a punny guy!
  - na85 13y ago
    Take this crap back to reddit please.
  - s_kilk 13y ago
    Please, no reddit-style pun threads :)
    - dpiers 13y ago
      I forgot people here only like fun if it's followed by draising.
- rainmaking 13y ago
  Thigh slapper :)
duiker101 13y ago
ok, so what?

devindotcom 13y ago

Furthermore, for those of us who aren't quite sure how the blocks and ownership work at this level, what about the other transactions of the 289321 block? What does 289321 signify, and what about the 29,999 BTC transaction listed here? http://blockr.io/block/info/289321 http://blockr.io/block/info/289321

VMG 13y ago
The block numbers are sequential, a new block is mined every ten minutes. A movement of 30k isn't very rare.
- devindotcom 13y ago
  So this is a 2-year-old block, and ~$15 million (just estimating at ~500/btc) being shifted around in that set isn't abormal? (Not sure how recycling of big amounts works, I'm not being facetious)
  - kolinko 13y ago
    This is a 2-year-old address. Block is just a set of transactions. New block happens every 10 minutes and contains all the transactions that all the bitcoin users sent during that period. So, this one transaction is interesting because it involves an old address. Other transactions in this block are probably unrelated.
taejo 13y ago
> What does 289321 signify Just that it was the 289321th block to be mined on the mainline of the blockchain. > what about the other transactions of the 289321 block? These are just transactions that happened within approximately 10 minutes before the block was mined (precisely, those that reached the miner between 06:22:28 and 06:34:54 today -- times in UTC I guess).