Post
Topic
Board Bitcoin Discussion
Topic OP
Did Satoshi cash out 77,624 BTC?
by
imfed
on 15/10/2013, 21:39:53 UTC
We know from our history lessons that Satoshi mined the genesis block on 2009-01-03 at 18:15:05. As the most blockes mined within the first month the 50 BTC reward was never moved. (Most of the 500,000 BTC that were mined before May 2009 have never left their first destination address.)
http://blockchain.info/tx/4a5e1e4baab89f3a32518a88c31bc87f618f76673e2cc77ab2127b7afdeda33b

Then on 2009-01-13 at 18:20:08 - the blockchain was exactly 10 days old - 50 coins where mined that were sent three days later to another wallet.
from http://blockchain.info/address/18KrJNtPVu6LWRNPQReqF29iFm7vDhirMk
to http://blockchain.info/address/12higDjoCCNXSA95xZMWUdPvXNmkAduhWv

The destination address '12hig' is very interesting. It received 77,624 BTC until 2011-06-04 and then started to cash out all his BTC that were worth about 1,7 million USD beginning from 2011-06-05 until the end of the month. Exciting days for the Bitcoin community. The BTC price rose from the 2nd to 8th of June from 11 to 30 USD and then fell to 13 USD a few days later.
http://bitcoincharts.com/charts/mtgoxUSD#rg1460zczsg2011-05-01zeg2011-08-01ztgSzm1g10zm2g25zv

To cash out Satoshi (or an other person who mined Bitcoin in the first 10 days of its existence) used #bitcoin-otc and verified his address '12hig' there.
http://bitcoin-otc.com/viewgpg.php?nick=I}ruid

Funfact (or a hint that this user was admin of bitcoin-otc): User I}ruid as the User Id 1337  Smiley

What do you think? Have these people traded with Satoshi? Do they know his fiat bank account?
http://bitcoin-otc.com/viewratingdetail.php?nick=I}ruid&sign=ANY&type=RECV