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It’s all over the news!
On Wednesday, May 20, 2020, an old miner from 2009, has transferred 40 BTC from the wallet after 11 years of keeping it as it is.The question arises that what took it so long to make this move.The probability is that it can be Satoshi, but nobody is sure.The leaders of the crypto industry have taken up the discussion over twitter with a series of tweets about who is it that has suddenly transferred 40 BTC to two different wallets.👤👤👤 40 #BTC (391,055 USD) transferred from possible #Satoshi owned wallet (dormant since 2009) to unknown wallet
ℹ️ The coins in this transaction were mined in the first month of Bitcoin’s existence.
— Whale Alert (@whale_alert) May 20, 2020
On the lines of the same, an unidentified person has transferred 40 BTC to two different wallets, which were mined years back.If we believe the speculations, there is a possibility that early miners are experimenting with BTC transfer.
The people in the market are of the belief that there can be many reasons to transfer BTC from an old wallet taking up the risk of publicizing.
Crypto Biggies have been skeptical about this entire case.A lot of people are commenting about who it can be, but nobody has a clue.The founders and CEO’s of exchange platforms all over the globe have been quite vocal about their views in this case.
The CEO and Founder of India’s leading exchange platform WazirX Nischal Shetty have expressed his views through a series of tweets.According to Shetty, Bitcoin can be moved from early wallets for quite many times.
It can be Satoshi or maybe not, but this seems fun.Apparently, #Bitcoin from early wallets has been moved several times before as well.
This tweet puts it well.
May be this is Satoshi.May be this isn’t.
All said and done, it’s been fun.
https://t.co/vfmAl9Jwbs https://t.co/XkmNG0Zzj8
— Nischal (WazirX) ⚡️ (@NischalShetty) May 20, 2020
Talking about the Patoshi Pattern, Shetty said, that we can assume that the recently activated Bitcoin address does not belong to Satoshi.But he also says that it can be possible that Satoshi might be using multiple computers for Bitcoin mining.
Shetty thinks that there are possibilities Satoshi can be a team and not an individual.Going by the Patoshi Pattern, one should assume that the recently activated #Bitcoin address does not belong to Satoshi.
But, what if Satoshi was using multiple computers to mine Bitcoin?
What if Satoshi is not an individual but a team? https://t.co/LRAxRSrD6N
— Nischal (WazirX) ⚡️ (@NischalShetty) May 20, 2020
He further talked about the much-discussed Patoshi Pattern and what it is all about.According to him, the analysis says that the blocks belong to Satoshi, and the activated address that is activated does not fall under Patoshi Pattern.What’s Patoshi Pattern?
Simply put, a large number of blocks mined in the early days have similarities which suggest they were mined from the same computer
This analysis suggests all those blocks belong to Satoshi.
The address that activated does not fall under Patoshi Pattern https://t.co/OG9l8VR7JQ
— Nischal (WazirX) ⚡️ (@NischalShetty) May 20, 2020
According to his observations, Bitcoin came into existence at the time of 2008/2009, the ongoing financial crisis.And right now, the ongoing global financial crisis is the first-ever crisis after the creation of Bitcoin.
An interesting observation here:
– Satoshi created #Bitcoin during the financial crisis 2008/2009
– 2020 is the first ever global financial crisis after the creation of Bitcoin
Is it a mere co-incidence that someone who mined in 2009 finally decided it was time to activate? https://t.co/6anAKIoGlA
— Nischal (WazirX) ⚡️ (@NischalShetty) May 20, 2020
Shetty believes that there is a high probability that this Bitcoin address belongs to Satoshi.According to him, it’s not 100% sure because there can be other miners also back in the early years.– There’s a high probability that this #Bitcoin address belongs to Satoshi
– There’s no way to be 100% certain because there might have been others mining in the early days
– It was easy to mine using a personal computer
But, I admire the patience to wait for 2020 ✌️ https://t.co/pPjBApCQw4
— Nischal (WazirX) ⚡️ (@NischalShetty) May 20, 2020
Not just Nischal Shetty, the CEO of Binance, Changpeng Zhao, also takes it to twitter talking about the entire case.He believes that it didn’t take any more electricity than the browser, and 50 BTC were mined.And now years later it is all worth $500,000.This entire move by an anonymous entity has shaken the market.Imagine casually running a bitcoin (not even a word) wallet in 2009.
It takes no more electricity than your browser, and mines 50 BTC.Worth 0 at the time.You don’t even think about it.
11 years later, it’s worth $500,000.You move it, and shakes the market.
😀
— CZ Binance 🔶🔶🔶 (@cz_binance) May 21, 2020
CZ believes that it is definitely not Satoshi.And we need to relax; it’s just another day in the crypto market.Relax guys.Much higher chance it is NOT Satoshi than it is.
Although can’t be proven, this has happened a few times before.
Don’t get too excited.Just another day in crypto.
We are all Satoshi.https://t.co/Yw3o7HkqWO
— CZ Binance 🔶🔶🔶 (@cz_binance) May 20, 2020
The Co-Founder and partner of Morgan Creek Digital, Pompliano, tweeted today that he doesn’t know about Satoshi and who he is.I don’t want to know who Satoshi is.
— Pomp 🌪 (@APompliano) May 20, 2020
Not just the leaders of the crypto and blockchain industry, but many people are extremely eager to know who waited for 11 years to transact these bitcoins.A lot of them strongly believe that it is Satoshi, and many are denying.Well, we might eventually get to know about it when the time comes, as of now, as Nischal Shetty tweeted , we should witness the wealth creation.
Tags Ruchi Brahmbhatt Ruchi is an Independent Artist and a Graduate in English Literature with substantial experience as an IELTS coach.Being young and energetic, emerging technologies attract her to the core- blockchain and crypto being the most recent ones.She has also been a regular contributor of news pieces and insightful articles related to these innovative arenas.Ruchi’s other interests include human rights, art and architecture, technology, health, and social networking.Subscribe to our mailing list to get the new updates! Enter your Email address.