100 Million Liras Transferred to Binance from Bitcoin Wallet That Has Been Dormant for 14 Years.
In July 2010, a miner managed to earn 50 bitcoins for his work and then started keeping the crypto asset he received as a reward in his wallet. At that time, bitcoin was trading at just $0.05. After 14 years, the bitcoins from the reused wallet were transferred to #Binance
These cryptocurrencies, dating from the so-called Satoshi era (between 2009 and 2011), were worth only $2.5 when they were mined. Today, the price of 50 bitcoins is exactly 3 million 76 thousand 40 dollars, that is, 101 million 434 thousand 660 TL.
In 2010, bitcoin was quite new, and because the algorithm used scaled with usage, at that time – which is almost impossible today – a miner alone managed to create a block and earned 50 bitcoins. Today, cryptocurrency mining is much more difficult and after the halvings, the reward per block has dropped to 3,125 bitcoins.
With the increase in #Bitcoin prices and increased usage, it is no longer possible to mine on home computers. In recent years, the hashrate required to calculate new blocks has been breaking record after record. That's why even special systems worth thousands of dollars may not be able to calculate blocks on their own.
