Let’s play a game of “Where’s Michael Saylor”! Try to find him in this pic

Honestly analyzing this Bitcoin transaction… It looks like 84 BTC ($5 Mill) moved, but it’s a classic UTXO spend. 84 BTC was used as an input (the fat line on the left) but only 5 BTC was actually spent (the top transaction on the pic towards the right) 79 BTC was just change returned to the sender on a new address (bottom fat line towards the right) The multiple small outputs are likely batching (sending to multiple people) or wallet management (most likely automatically done by wallet software) So after analyzing this transaction they spent about 5 BTC out of an 84 BTC UTXO and the rest went back to the person as change.

Sweet!

There are people like this on the internet 😩

I just created a “Whale Alert” on my website (link in bio) Sign up for free and you can get email alerts when someone moves huge amounts on the Bitcoin Blockchain! Since it is new the first email might go to your spam or junk folder. Just move it to your main inbox so you don’t miss a whale alert! Go to my site (link in bio) to check it out! Thanks!

I will zap all new followers for the rest of the night!

Cool, you have a whole coin…. But is it all in 1 UTXO though?

How Cold Storage Wallets Work: A cold storage wallet doesn’t have just 1 address, what you really have is a master key system. Your 12 or 24 word seed phrase is the master key to all your addresses. That seed mathematically generates a master private key snd master public key. Your private key controls your Bitcoin and your public key generates all your addresses. And your wallet uses the private key to sign transactions. Your wallet has a XPUB which mean extended public key. It’s like a view only master key. It allows you to generate all your receive addresses, track balances, and build the full tree of addresses. So your seed phrase gives you full control, your private key spends funds, and your XPUB sees everything and generates addresses but cannot spend. Modern wallets use something called HD wallets (Hierarchical Deterministic Wallets). It means that all addresses are derived from the same seed and your wallet creates a new address for every transaction. This means you can have thousands of addresses for each time you receive Bitcoin and they’re all tied to the same seed. This is done for privacy. If you just had 1 address anyone could track your entire balance. So there is a branching structure to wallets. Where the master seed is at the top and your receiving addresses and change address are branched underneath it. (Change addresses are where your change is sent when the leftover bitcoin (change) is sent back to you after you send Bitcoin somewhere) Finally the way to think of it easily is: Seed phrase - Master root (controls everything) From it - You have infinite private/public key pairs From those - you have infinite addresses XPUB - lets you see all branches without control. If someone gets your seed phrase it’s game over and they can take everything. If your XPUB is leaked they can track everything you have in all your wallet addresses. Follow An Honest Node for more post about a Bitcoin!

There’s levels to the game and you’re a great podcaster! I love your show

Amazing