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P23CS026-Bitcoin (Lab-2)

This document contains a blockchain analysis assignment submitted by Sethi Nagendrasundar. The assignment involves discovering dormant Bitcoin wallets from the Satoshi era, identifying tainted wallets associated with illegal activities, tracking the movement of clean coins, finding whale wallets with large Bitcoin holdings, examining difficulty adjustments around certain block heights, and analyzing how coins accumulated over time in burnt addresses that have destroyed private keys.

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Nagendra Sethi
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82 views

P23CS026-Bitcoin (Lab-2)

This document contains a blockchain analysis assignment submitted by Sethi Nagendrasundar. The assignment involves discovering dormant Bitcoin wallets from the Satoshi era, identifying tainted wallets associated with illegal activities, tracking the movement of clean coins, finding whale wallets with large Bitcoin holdings, examining difficulty adjustments around certain block heights, and analyzing how coins accumulated over time in burnt addresses that have destroyed private keys.

Uploaded by

Nagendra Sethi
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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LAB - 02 Assignment

NAME :- Sethi Nagendrasundar


ENROLLMENT :- P23CS026
SUBJECT :- Bitcoin and Cryptocurrencires
SPECIALIZATION :- MTECH-CSE

PRACTICAL :- Blockchain Analysis, Discover the following :

1) Dormant bitcoins (Satoshi era)

Dormant bitcoins refer to those that have not been moved or spent for an
extended period. Satoshi Nakamoto era is the time period from 2009 to 2011. Now
let us find such dormant bitcoin addresses from this era.
1) Wallet address :- 1FeexV6bAHb8ybZjqQMjJrcCrHGW9sb6uF

2) Wallet address :- 12tkqA9xSoowkzoERHMWNKsTey55YEBqkv


3) Wallet address :- 1KbrSKrT3GeEruTuuYYUSQ35JwKbrAWJYm

2) Tainted bitcoins (Blacklisted wallets)

Tainted bitcoins are bitcoins that are associated with specific activities or addresses
considered undesirable, illegal, or unethical. Blacklisted wallets are addresses that have
been marked as tainted, often due to their involvement in illicit transactions. Blacklisting
aims to prevent the acceptance or withdrawal of bitcoins from addresses associated with
illegal activities. Here is the list of such wallet addresses.
1) Wallet address :- 1EfMVkxQQuZfBdocpJu6RUsCJvenQWbQyE

2) Wallet address :- 17UVSMegvrzfobKC82dHXpZLtLcqzW9stF

3) Wallet address :- 39eboeqYNFe2VoLC3mUGx4dh6GNhLB3D2q


3) Clean coins (where they are going – second transaction)

Clean coins refer to bitcoins that are not associated with any illicit or suspicious activities.
Tracking the destination of clean coins in the second transaction involves following the
transaction history to identify where the coins are being sent after the initial transaction.

1)
2)
4) Bitcoin Whales (5 addresses having good number of Bitcoins)

Bitcoin whales are individuals or entities that hold a significant amount of bitcoins,
often measured in thousands or tens of thousands.Tracking whale addresses can provide
insights into large-scale movements in the cryptocurrency market.

1) Wallet address :- 34xp4vRoCGJym3xR7yCVPFHoCNxv4Twseo

2) Wallet address :-
bc1qgdjqv0av3q56jvd82tkdjpy7gdp9ut8tlqmgrpmv24sq90ecnvqqjwvw97
3) Wallet address :- bc1ql49ydapnjafl5t2cp9zqpjwe6pdgmxy98859v2

4) Wallet address :- 39884E3j6KZj82FK4vcCrkUvWYL5MQaS3v


5) Wallet address :- bc1qazcm763858nkj2dj986etajv6wquslv8uxwczt

Here is the list of few other bitcoins whales wallet addresses :-

Address Quantity Percentage


37XuVSEpWW4trkfmvWzegTHQt7BdktSKUs 94,505 0.45%
1FeexV6bAHb8ybZjqQMjJrcCrHGW9sb6uF 79,957 0.38%
3M219KR5vEneNb47ewrPfWyb5jQ2DjxRP6 69,371 0.33%
bc1qa5wkgaew2dkv56kfvj49j0av5nml45x9ek9hz6 69,370 0.33%
3LYJfcfHPXYJreMsASk2jkn69LWEYKzexb 68,200 0.32%

5) Difficulty adjustment (at and around Block# 210000, 420000, 630000)

Difficulty adjustment in Bitcoin refers to the periodic recalibration of the difficulty level
for miners to solve a new block. Difficulty adjustment occurs approximately every 2016
blocks (or every two weeks), ensuring that the average time to mine a block remains
around 10 minutes.Difficulty adjustments are crucial for maintaining the stability of the
Bitcoin network.

• Difficulty adjustment (at and around Block# 210000)

• Difficulty adjustment (at and around Block# 420000)


• Difficulty adjustment (at and around Block# 630000)
6) Burnt addresses (find a few and check how coins are accumulated
over time)

Burnt addresses refer to cryptocurrency addresses where the private keys are
intentionally made inaccessible, rendering the associated bitcoins permanently
unspendable. Checking how coins are accumulated over time involves monitoring the
transaction history associated with burnt addresses.Burnt addresses contribute to the
concept of "burnt bitcoins" or coins that are deliberately made unusable.

1) Wallet address :- 1CounterpartyXXXXXXXXXXXXXXXUWLpVr

2) Wallet address :- 1111111111111111111114oLvT2


3) Wallet address :- 1BitcoinEaterAddressDontSendf59kuE

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