blockchain-bitcoin

This wont be a long post but one that we felt deserved it regarding Bitcoin's blockchain and block number 527309 in which contained 71,596.09 BTC – one of the highest recorded.

As you can see, that is 10x the previous block size as most only range from 7,000-15,000 bitcoins per 10 minute block. Users on Twitter believe the wallet address belongs to Poloniex but we are not sure if this is verified or rumor report status. Here is a complete break down of all the stats in Block Height 527309 that was mined by BTC.TOP out of China.

bitcoin-blockchain-block-height

For those who may not know, the definition of block chain height (block height) is the number of blocks preceding a particular block on the blockchain. In other words, the block height is the amount of blocks on the chain between it and the starting genesis block (the bitcoin blockchain genesis block from January 2009 would be 0). The block contains transaction information that occurred during that time-span and is permanently recorded then distributed to all other miners.

As you can see in the twitter comments above, there are many speculations as to what caused it or what could happen with that many bitcoins in a block.

From “sorry my ihop waitress tip” comments to “we gon die” to “weak hands moving from cold storage to exchanges” to “when's the dump coming” comments, there is plenty of comedy on crypto-twitter to indulge in – but for now – we hope you learned a bit about block height.

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