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Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: sirty143 on May 20, 2024, 03:30:58 PM

Title: Accidental Bitcoin Transfer Pushes Satoshi Nakamoto’s Genesis Wallet Over 100 BT
Post by: sirty143 on May 20, 2024, 03:30:58 PM
Accidental Bitcoin Transfer Pushes Satoshi Nakamoto’s Genesis Wallet Over 100 BTC

Based on the latest data, the well-known Genesis address owned by Satoshi Nakamoto now holds over 100 BTC after someone inadvertently sent 0.10754671 BTC, valued at $7,211, to the wallet... See more for yourself here (https://news.bitcoin.com/accidental-bitcoin-transfer-pushes-satoshi-nakamotos-genesis-wallet-over-100-btc/).

Your opinion is greatly appreciated.
Title: Re: Accidental Bitcoin Transfer Pushes Satoshi Nakamoto’s Genesis Wallet Over 100 BT
Post by: ABCbits on May 21, 2024, 01:01:13 PM
I'm not sure the owner actually accidentally send Bitcoin to wrong address. After all, you need to copy Satoshi's address from certain place (e.g. news or article) and exchange usually require you to double check/verify whether you actually want to perform withdraw. And when i decide to verify the actual amount, i find it's weird that currently 3 block explorer showing 3 different amount.

https://explorer.btc.com/btc/address/1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa (https://explorer.btc.com/btc/address/1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa) shows 99.98853451 BTC.
https://www.blockchain.com/explorer/addresses/btc/1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa (https://www.blockchain.com/explorer/addresses/btc/1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa) shows Bitcoin Balance 99.98849842.
https://mempool.space/address/1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa (https://mempool.space/address/1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa) shows Balance ‎49.97855575 BTC, which probably exclude mining reward from genesis block.
Title: Re: Accidental Bitcoin Transfer Pushes Satoshi Nakamoto’s Genesis Wallet Over 100 BT
Post by: Tribalchief on May 22, 2024, 08:02:02 AM
We can't be too sure that this is accidental looking at how much as been sent to same address in this last years. So many people are we willing do this sometimes to show their own appreciation, or maybe to create a news.

Quote from: ABCbits on May 21, 2024, 01:01:13 PM
I'm not sure the owner actually accidentally send Bitcoin to wrong address. After all, you need to copy Satoshi's address from certain place (e.g. news or article) and exchange usually require you to double check/verify whether you actually want to perform withdraw. And when i decide to verify the actual amount, i find it's weird that currently 3 block explorer showing 3 different amount.

https://explorer.btc.com/btc/address/1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa (https://explorer.btc.com/btc/address/1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa) shows 99.98853451 BTC.
https://www.blockchain.com/explorer/addresses/btc/1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa (https://www.blockchain.com/explorer/addresses/btc/1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa) shows Bitcoin Balance 99.98849842.
https://mempool.space/address/1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa (https://mempool.space/address/1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa) shows Balance ‎49.97855575 BTC, which probably exclude mining reward from genesis block.

I really find this strange. Not even sure of what to say. I am quite familiar with Blockchain explorer which gives a proper range of values, but the difference in accuracy is quite alarming and should be address, to prevent misinformation.
Title: Re: Accidental Bitcoin Transfer Pushes Satoshi Nakamoto’s Genesis Wallet Over 100 BT
Post by: TomPluz on May 22, 2024, 11:33:27 AM
Wow! That is all I can say with this accidental transaction that is not surely reversible so the BTC is already considered as gone, though the transaction is now part of BTC history for many generations to ponder on. One thing for sure it would be difficult for many of us to fathom why this mistake happened - assuming that it was an accidental mistake - since am sure the sender is not anymore new to the world of cryptocurrency. This latest transfer of 0.10754671 BTC, valued at $7,211 at current price is just peanut to the previous  transfer of 26.917 BTC which is worth a staggering $1.8 million. All of these transactions can left anyone wondering what really happened there...is this intentional or something different can be behind these transactions?
Title: Re: Accidental Bitcoin Transfer Pushes Satoshi Nakamoto’s Genesis Wallet Over 100 BT
Post by: yhiaali3 on June 19, 2024, 09:45:25 PM
I believe it is not by mistake but rather intentional due to what some call “Satoshi Tribute” Satoshi Greeting behavior started to appear in 2011 where some people would silently thank you, while others would convert that appreciation into transactions recorded on the Bitcoin blockchain. This type of behavior is called “Satoshi Tribute”.

While others call it “incense behavior,” which is similar to the behavior of believers offering incense in temples:
Quote
Some people are making silent thanks, while others have turned this appreciation into transactions recorded on the Bitcoin blockchain. This kind of behavior is called “Satoshi Tribute”. [Translator’s note: the original article refers to these Satoshi Tribute donations as “Incense Behavior”, a particularly good metaphor since incense is burned in temples as a sign of respect and both the incense and Satoshi Tributes are “burned” because genesis block Bitcoin can never be spent.]
https://medium.com/@chain.info1/the-mystery-behind-satoshi-tribute-donations-cf4ce28c56a1
Title: Re: Accidental Bitcoin Transfer Pushes Satoshi Nakamoto’s Genesis Wallet Over 100 BT
Post by: NotATether on June 20, 2024, 01:56:57 PM
It can hardly be an accident when as ABCbits wrote you either have to copy and paste the Genesis address from somewhere, or remember it exactly and typeit character by character, all 52 of them.

That's hardly an accident to me.

The source used in the article (Arkham Intelligence) apparently doesn't take into account any of this, and wrongly assumes that the transfer was made by accident, when it clearly is not possible for it to be that way.
Title: Re: Accidental Bitcoin Transfer Pushes Satoshi Nakamoto’s Genesis Wallet Over 100 BT
Post by: Faisal2202 on June 21, 2024, 03:38:48 PM
Quote from: ABCbits on May 21, 2024, 01:01:13 PM
I'm not sure the owner actually accidentally send Bitcoin to wrong address. After all, you need to copy Satoshi's address from certain place (e.g. news or article) and exchange usually require you to double check/verify whether you actually want to perform withdraw. And when i decide to verify the actual amount, i find it's weird that currently 3 block explorer showing 3 different amount.
The first two explorers you have aforementioned are showing the same balance but the last one shows only half of it. There might be a reason behind it. Well, the difference is these two explorers are showing he has 100.04 BTC while the Arkham site showing Satoshi Address holds a total of 100.4 BTC. I mean if someone mistakenly sent 0.10754671 BTC to Satoshi's address then it means it should have 100.4 - 0.10754 = 100.374454 BTC, which is already over 100 BTC.

So I think the real amount must be 100.04 - 0.10754 = 99.93246 BTC. Which is less than 100 BTC. And when he (satoshi) received this amount, it exceeded 100 BTC in total. Overall, the last explorer of memepool space might be showing some amount like there might be a filter on.