Very Rich Address?

[Arkanos]

http://blockchain.info/fb/1dkybe

[1713573251]

1713573251

[1713573251]

1713573251

[Clipse]

Looks like the mtgox exchange offline wallet.

[Arkanos]

I suspect it is Silk Road's wallet.

[Arkanos]

What I mean to say is that I sent btc to silk road and then I tracked the funds. They immediately went to that address. That is Silk Road's main storage. Nearly two million USD is tied up in the Silk Road Marketplace.

This account will now be thrown away.

[Phinnaeus Gage]

What I mean to say is that I sent btc to silk road and then I tracked the funds. They immediately went to that address. That is Silk Road's main storage. Nearly two million USD is tied up in the Silk Road Marketplace.

This account will now be thrown away.

Is the above information correct? (in bold)

[ilovethisshit]

wow

[jarsumarsu]

http://blockchain.info/fb/1dkybe

It is my spare wallet 

[imsaguy]

That's the address collecting all of Goat's misfires.

[Inaba]

It's mostly imaginary though, since it would be impossible to liquidate a sum that large without crashing the economy.  It's great they possess it, but what can they do with it?  Not much, at least not immediately.

[Anillos]

  I suspect that someone will purchase a ink cartridge, but at this moment he doesn't have enough money.

[oldDirty]

uhh 1.6Mio €, thats nice.

[Clipse]

Damn that wallet is growing nicely, SR is clearly doing well (if that is their wallet)

[bitdragon]

there was one guy a year ago with a balance of 370K bitcoins, accumulated over a long time.
He was buying 10K Bitcoins for dozens of USD at a time.
There was even an auction for 10K bitcoins for 50USD through paypal that did not find a buyer.
There is the history buried in the forum somewhere. The plan 2 years ago or something was to accumulate bitcoins in partnership with a Bank for some future business.
Over the months or year, the fad died out and the supposed bank dropped out without regards for and not paying any attention to the price of Bitcoins and the chap in question got to keep the bitcoins for a rather low fee of 30K USD or something in that range, cancelling the contract in someway.

To have it grown by 30K bitcoins is very possible. All this to say, there are some with very large balances. Maybe 80% of the wealth in 20% of the people as Pareto would say.

[Clipse]

there was one guy a year ago with a balance of 370K bitcoins, accumulated over a long time.
He was buying 10K Bitcoins for dozens of USD at a time.
There was even an auction for 10K bitcoins for 50USD through paypal that did not find a buyer.
There is the history buried in the forum somewhere. The plan 2 years ago or something was to accumulate bitcoins in partnership with a Bank for some future business.
Over the months or year, the fad died out and the supposed bank dropped out without regards for and not paying any attention to the price of Bitcoins and the chap in question got to keep the bitcoins for a rather low fee of 30K USD or something in that range, cancelling the contract in someway.

To have it grown by 30K bitcoins is very possible. All this to say, there are some with very large balances. Maybe 80% of the wealth in 20% of the people as Pareto would say.

The 10K BTC thread was all about pizza, I was here from very early and I dont recall any 10K for $50 unless that happened in early 2010 ?

[wachtwoord]

The address didn't start accumulating coins until February of this year:

http://blockchain.info/charts/balance?address=1DkyBEKt5S2GDtv7aQw6rQepAvnsRyHoYM

[bitdragon]

there was one guy a year ago with a balance of 370K bitcoins, accumulated over a long time.
He was buying 10K Bitcoins for dozens of USD at a time.
There was even an auction for 10K bitcoins for 50USD through paypal that did not find a buyer.
There is the history buried in the forum somewhere. The plan 2 years ago or something was to accumulate bitcoins in partnership with a Bank for some future business.
Over the months or year, the fad died out and the supposed bank dropped out without regards for and not paying any attention to the price of Bitcoins and the chap in question got to keep the bitcoins for a rather low fee of 30K USD or something in that range, cancelling the contract in someway.

To have it grown by 30K bitcoins is very possible. All this to say, there are some with very large balances. Maybe 80% of the wealth in 20% of the people as Pareto would say.

The 10K BTC thread was all about pizza, I was here from very early and I dont recall any 10K for $50 unless that happened in early 2010 ?

march 2010 indeed.

https://bitcointalk.org/index.php?topic=92.msg826#msg826

"April 07, 2010, 03:47:18 PM
   
Reply with quote  #6
Auction is over.
Since nobody has made the starting bid, the bitcoins do not change their owner."

[bitdragon]

and I dug up that 371K Bitcoin thread....

https://bitcointalk.org/index.php?topic=6825.0

[evoorhees]

it's pirates! 



(yes this is 100% BS FUD)

It's one of the most annoying things about this "community".  I'm not sure why people seek to undermine trust by decloaking addresses/people with large balances.  It actually makes it worse than fiat, as you can't easily look up someone's bank balances.  It seems a perverse game among people with little respect for privacy in an open ledger system, which makes it necessary for people with "nothing to hide" to go to lengths to obfuscate their holdings.

Not everyone is "sophisticated" enough to split their holdings into multiple wallets/addresses.  This sort of activity creates a disincentive to invest heavily in BTC and to pull BTC out into cash more frequently.

I understand your sentiment, but if one's identity can be "uncloaked" by simple investigation, then it's not really cloaked in the first place. Not everyone needs/wants full complete privacy. Those who do, can take steps to attain it. And certainly, anyone with 400,000 BTC is experienced enough to know these things. If they wished those funds to be super secret, then they would be. It does not take much sophistication to split holdings, or even to launder them completely.

Doing a bit of web research using publicly available information does not breech anyone's reasonable expectation of privacy.

[Phinnaeus Gage]

Let me get this straight. Somebody has amassed 4.5% of the total bitcoins in circulation. Plus, every single transaction I viewed (over 100) has a final balance of 0. If this entity is legit, more power to them. But if not...

I'm more than curious as to what product or service they are providing to amass such a large sum of coins.

~Bruno~

[Phinnaeus Gage]

Let me get this straight. Somebody has amassed 4.5% of the total bitcoins in circulation. Plus, every single transaction I viewed (over 100) has a final balance of 0. If this entity is legit, more power to them. But if not...

I'm more than curious as to what product or service they are providing to amass such a large sum of coins.

~Bruno~

bitcoinica or gox is all that really comes to mind. that or some unknown billionaire/hedge fund.

Somebody tell me I'm crazy, but the transactions I've seen are only seconds apart with each address used only once. I can't explain it, but by clicking any transaction and following it/them for a while, I come back to Mr. MoneyBags. I've found several accounts that spent the coins and the smaller amount gets added to that 400K account--magically. Somebody smarter than I would be able to explain exactly what is going on with this account. I've been on it for a couple hours now. This is nuts!

~Bruno~

[Monetizer]

That is either a hacker or a bitcoin trader/service like mt gox

[bitlane]

The address didn't start accumulating coins until February of this year:

http://blockchain.info/charts/balance?address=1DkyBEKt5S2GDtv7aQw6rQepAvnsRyHoYM

That's my Pirate Savings Account address.

I don't appreciate this being posted in public.

[Phinnaeus Gage]

i bet it is related to the stability...   this guy would not let it go under $5 or so... just absorbed everything, that's my guess.


$2,000,000 is a lot for me, but for some people or funds, that is nothing and worth taking a long shot on. a lot of very rich people know what bitcoin is.

Many of these transactions are happening within seconds of each other. This is on automatic pilot. Pick any one transaction at random and following it for awhile. Look at the times. Look at some transactions split then return to the original total and increases it. My head is spinning. (tired)

~Bruno~

[Phinnaeus Gage]

i bet it is related to the stability...   this guy would not let it go under $5 or so... just absorbed everything, that's my guess.


$2,000,000 is a lot for me, but for some people or funds, that is nothing and worth taking a long shot on. a lot of very rich people know what bitcoin is.

Many of these transactions are happening within seconds of each other. This is on automatic pilot. Pick any one transaction at random and following it for awhile. Look at the times. Look at some transactions split then return to the original total and increases it. My head is spinning. (tired)

~Bruno~

then could it be a way to launder coins?

Laundering them, then storing them all in one wallet? There's several other large accounts that siphon coins to this larger account. Like I've suggested, take any address and follow it. You'll be amazed.

[Raoul Duke]

MtGox profits wallet lol

[pirateat40]

it's pirates! 



(yes this is 100% BS FUD)

It's one of the most annoying things about this "community".  I'm not sure why people seek to undermine trust by decloaking addresses/people with large balances.  It actually makes it worse than fiat, as you can't easily look up someone's bank balances.  It seems a perverse game among people with little respect for privacy in an open ledger system, which makes it necessary for people with "nothing to hide" to go to lengths to obfuscate their holdings.

Not everyone is "sophisticated" enough to split their holdings into multiple wallets/addresses.  This sort of activity creates a disincentive to invest heavily in BTC and to pull BTC out into cash more frequently.

+1

[BrightAnarchist]

Awesome, it's good to see some really successful btc business going on, even if we don't know what it is. It helps stabalize the currency because it ensures demand.

[Phinnaeus Gage]

Awesome, it's good to see some really successful btc business going on, even if we don't know what it is. It helps stabalize the currency because it ensures demand.

Nothing like putting all your eggs in one basket and hopin' to not forget where the key is to the coop.


Joey, tell Uncle Gavin that you can't find the key.

[Raoul Duke]

Awesome, it's good to see some really successful btc business going on, even if we don't know what it is. It helps stabalize the currency because it ensures demand.

Nothing like putting all your eggs in one basket and hopin' to not forget where the key is to the coop.


Joey, tell Uncle Gavin that you can't find the key.

The hacker stole the key and melted it. It wasn't lost.

[evoorhees]

My head is spinning. (tired)

LOL your avatar indicates the same

[Scott J]

i bet it is related to the stability...   this guy would not let it go under $5 or so... just absorbed everything, that's my guess.


$2,000,000 is a lot for me, but for some people or funds, that is nothing and worth taking a long shot on. a lot of very rich people know what bitcoin is.

Many of these transactions are happening within seconds of each other. This is on automatic pilot. Pick any one transaction at random and following it for awhile. Look at the times. Look at some transactions split then return to the original total and increases it. My head is spinning. (tired)

~Bruno~

then could it be a way to launder coins?

The OP, Arkanos, claimed he watched his coins go from Silk Road to this wallet.

The process you are seeing must be Silk Road's coin tumbler.

[Phinnaeus Gage]

i bet it is related to the stability...   this guy would not let it go under $5 or so... just absorbed everything, that's my guess.


$2,000,000 is a lot for me, but for some people or funds, that is nothing and worth taking a long shot on. a lot of very rich people know what bitcoin is.

Many of these transactions are happening within seconds of each other. This is on automatic pilot. Pick any one transaction at random and following it for awhile. Look at the times. Look at some transactions split then return to the original total and increases it. My head is spinning. (tired)

~Bruno~

then could it be a way to launder coins?

The OP, Arkanos, claimed he watched his coins go from Silk Road to this wallet.

The process you are seeing must be Silk Road's coin tumbler.

I may accept that reasoning, but isn't SR a place where different people sell different stuff, therefore there's not one entity collecting and storing all those coins?

Plus, how does one set(s) of coins start at one end of the transaction and make its way back to the large wallet, thus increasing it? I can't take $10 out of my wallet containing $100 (leaving me now with only $90), pass it around several times, return it to my wallet and now have $110. That's what I'm seeing.

[Scott J]

i bet it is related to the stability...   this guy would not let it go under $5 or so... just absorbed everything, that's my guess.


$2,000,000 is a lot for me, but for some people or funds, that is nothing and worth taking a long shot on. a lot of very rich people know what bitcoin is.

Many of these transactions are happening within seconds of each other. This is on automatic pilot. Pick any one transaction at random and following it for awhile. Look at the times. Look at some transactions split then return to the original total and increases it. My head is spinning. (tired)

~Bruno~

then could it be a way to launder coins?

The OP, Arkanos, claimed he watched his coins go from Silk Road to this wallet.

The process you are seeing must be Silk Road's coin tumbler.

I may accept that reasoning, but isn't SR a place where different people sell different stuff, therefore there's not one entity collecting and storing all those coins?

They take a commission from each sale.

[Phinnaeus Gage]

i bet it is related to the stability...   this guy would not let it go under $5 or so... just absorbed everything, that's my guess.


$2,000,000 is a lot for me, but for some people or funds, that is nothing and worth taking a long shot on. a lot of very rich people know what bitcoin is.

Many of these transactions are happening within seconds of each other. This is on automatic pilot. Pick any one transaction at random and following it for awhile. Look at the times. Look at some transactions split then return to the original total and increases it. My head is spinning. (tired)

~Bruno~

then could it be a way to launder coins?

The OP, Arkanos, claimed he watched his coins go from Silk Road to this wallet.

The process you are seeing must be Silk Road's coin tumbler.

I may accept that reasoning, but isn't SR a place where different people sell different stuff, therefore there's not one entity collecting and storing all those coins?

They take a commission from each sale.

Not sure who they are, but that's one hell of a commission wallet taken from transactions that continue to take place seconds apart.

[Scott J]

I think Silk Road processes an awful lot of money.

Recently there was a thread claiming a vendor took $100k in one scam, over one weekend.

Edit: https://bitcointalk.org/index.php?topic=78496.0

[Phinnaeus Gage]

I think Silk Road processes an awful lot of money.

Recently there was a thread claiming a vendor took $100k in one scam, over one weekend.

Edit: https://bitcointalk.org/index.php?topic=78496.0

Nevermind! It all makes sense now. $20M USD in sales since February at a 10% cut equals $2M USD (400K+ BTC) kept all in one wallet sans 1K BTC.

Here's my favorite Silk Road song by Kitaro (really): http://www.youtube.com/watch?v=8gXZPaIl6us

[AndrewBUD]

It is probably the SR escrow wallet?


Yeah Tony76 was the dude the fucked a bunch of people 4/20 sale weekend....

[Phinnaeus Gage]

Blockchain is down. Maybe it's trying to block my research.

[MoonShadow]

That's almost certainly a coin tumbler escrow.  The semi-random automatic transactions that are constantly moving small amounts around and back helps to hide the true volume of in-out transactions.  The collection into a single address also tends to hide who is paying whom, should an observer be able to link an address to a person in some other way, such as standard detective work.  The claim that it's the tumbler for silk road is likely, but irrelevent because no one knows who silk road actually is.  That's akin to saying "I can track MoonShadow's money, because I have his address!", the anominity then rests with "Who the hell is MoonShadow?"

[Phinnaeus Gage]

That's almost certainly a coin tumbler escrow.  The semi-random automatic transactions that are constantly moving small amounts around and back helps to hide the true volume of in-out transactions.  The collection into a single address also tends to hide who is paying whom, should an observer be able to link an address to a person in some other way, such as standard detective work.  The claim that it's the tumbler for silk road is likely, but irrelevent because no one knows who silk road actually is.  That's akin to saying "I can track MoonShadow's money, because I have his address!", the anominity then rests with "Who the hell is MoonShadow?"

To be clear, the bitcoins residing in the wallet with the address 1DkyBEKt5S2GDtv7aQw6rQepAvnsRyHoYM are commissions from sales on/at Silk Road. Correct?

[MoonShadow]

That's almost certainly a coin tumbler escrow.  The semi-random automatic transactions that are constantly moving small amounts around and back helps to hide the true volume of in-out transactions.  The collection into a single address also tends to hide who is paying whom, should an observer be able to link an address to a person in some other way, such as standard detective work.  The claim that it's the tumbler for silk road is likely, but irrelevent because no one knows who silk road actually is.  That's akin to saying "I can track MoonShadow's money, because I have his address!", the anominity then rests with "Who the hell is MoonShadow?"

To be clear, the bitcoins residing in the wallet with the address 1DkyBEKt5S2GDtv7aQw6rQepAvnsRyHoYM are commissions from sales on/at Silk Road. Correct?

I have no idea, and I question whether that is even knowable to anyone that doesn't deal with silk road, which I don't.

EDIT:  If it is, then the owner of Silk Road hasn't taken much of his profits.  How does he pay to keep it all running without cashing some out?

[MoonShadow]

That's almost certainly a coin tumbler escrow.  The semi-random automatic transactions that are constantly moving small amounts around and back helps to hide the true volume of in-out transactions.  The collection into a single address also tends to hide who is paying whom, should an observer be able to link an address to a person in some other way, such as standard detective work.  The claim that it's the tumbler for silk road is likely, but irrelevent because no one knows who silk road actually is.  That's akin to saying "I can track MoonShadow's money, because I have his address!", the anominity then rests with "Who the hell is MoonShadow?"

To be clear, the bitcoins residing in the wallet with the address 1DkyBEKt5S2GDtv7aQw6rQepAvnsRyHoYM are commissions from sales on/at Silk Road. Correct?

I have no idea, and I question whether that is even knowable to anyone that doesn't deal with silk road, which I don't.

EDIT:  If it is, then the owner of Silk Road hasn't taken much of his profits.  How does he pay to keep it all running without cashing some out?

maybe this is just his "hot wallet" and he has taken millions out already? i be they do a massive amount of business.

As lucrative as it can be to be to be a dealer, that doesn't usually compare to how lucrative it is to be the market maker, so you're probably right.

[Phinnaeus Gage]

That's almost certainly a coin tumbler escrow.  The semi-random automatic transactions that are constantly moving small amounts around and back helps to hide the true volume of in-out transactions.  The collection into a single address also tends to hide who is paying whom, should an observer be able to link an address to a person in some other way, such as standard detective work.  The claim that it's the tumbler for silk road is likely, but irrelevent because no one knows who silk road actually is.  That's akin to saying "I can track MoonShadow's money, because I have his address!", the anominity then rests with "Who the hell is MoonShadow?"

To be clear, the bitcoins residing in the wallet with the address 1DkyBEKt5S2GDtv7aQw6rQepAvnsRyHoYM are commissions from sales on/at Silk Road. Correct?

I have no idea, and I question whether that is even knowable to anyone that doesn't deal with silk road, which I don't.

EDIT:  If it is, then the owner of Silk Road hasn't taken much of his profits.  How does he pay to keep it all running without cashing some out?

maybe this is just his "hot wallet" and he has taken millions out already? i be they do a massive amount of business.

As lucrative as it can be to be to be a dealer, that doesn't usually compare to how lucrative it is to be the market maker, so you're probably right.

I believe something nefarious is happening with this account.

[MoonShadow]

Such as?

[Phinnaeus Gage]

Such as?

yeah.. i was wanting more info too

[mc_lovin]

So if some people are saying 1dkybekt5s2gdtv7aqw6rqepavnsryhoym is silk road's address, and have some sort of proof..

and others are saying it's pirate's address..

If you go to that wallet address dot com (http://1dkybekt5s2gdtv7aqw6rqepavnsryhoym.com/) it is a simple page to brag about how awesome they are.  And they are awesome.  They have like 4 mil currently.

That image posted on the website seems very pirate-y, IMHO.

Does that mean that..

1.) pirate has something to do with silk road?
2.) silk road uses pirate's wallet as a tumbler?

(this is just speculation)

[cantbearsed]

so  was gonna post on the other thread (in the speculation forum) but then apparently this site doesn't trust newly registered users to post.

anyway, surely one could test whether the wallet belongs to the silkroad by tracking a bitcoin that you pay to the silkroad and see if it ends up in that giant wallet? or am i somehow misunderstanding the blockchain idea?

[rogerdaltree]

Likely to be silk road. 
Funny how the head persona @ the 'road is known as Dread Pirate Roberts.  It's gonna be an interesting 5 months from here to the halving of the block rewards, that's for sure.

[mc_lovin]

Likely to be silk road. 
Funny how the head persona @ the 'road is known as Dread Pirate Roberts.  It's gonna be an interesting 5 months from here to the halving of the block rewards, that's for sure.

Very interesting tidbit. 

[AndrewBUD]

Why ^? Most people that buy on SR are not miners.......

[Bitcoin Oz]

The two largest account holders in bitcoin are named pirate   

[xdjx]

My guess is its a SR wallet as well, after taking a look around the place a few months back there are a large number of sellers and the top sellers take hundreds, sometimes thousands of BTC everyday and Dread Pirate Roberts gets 10% of all of them, sometimes less on higher transactions but still that is a large chunk of coin...
Off the Tony76 scam DPR made 10,000$ in one weekend and that was just off one seller.
That and the fact he gave away at least 10k BTC over that weekend, with other prizes like macbooks, phones and a crazy holiday.

[gadsdengraphics]

The two largest account holders in bitcoin are named pirate   

Considering the cultural context of the Bitcoin community, this is not surprising.

It's like picking two random guys from Russia and finding their both named "Ivan".

[Inaba]

It's like picking two random guys from Russia and finding their both named "Ivan".

But is one of them Crazy?

[AndrewBUD]

It's like picking two random guys from Russia and finding their both named "Ivan".

But is one of them Crazy?

No but he keeps hitting the payout button....

[Inaba]

Haha!  Best. Response. Ever.

[FAKE daniel daniel]

thats alot

[stepkrav]

Having a huge balance in an address does attract much attention. Then how will the holder be able to cash these coins, without revealing his identity? Just wondering...

[AndrewBUD]

Haha!  Best. Response. Ever.

Glad you like it....

[thebaron]

Maybe it's where all the Bitcoin transaction fees end up.

[purpleplastic]

I came across a while ago a page for the top 100 most wealthy wallets, much wealth exists just in a small bunch of wallets, wow !

[Joori]

I came across a while ago a page for the top 100 most wealthy wallets, much wealth exists just in a small bunch of wallets, wow !

Much like in real life. You'll find a small number of people who hold the majority of the worlds wealth.

[payb.tc]

I came across a while ago a page for the top 100 most wealthy wallets, much wealth exists just in a small bunch of wallets, wow !

https://bitcointalk.org/index.php?topic=92423.0

[purpleplastic]

I came across a while ago a page for the top 100 most wealthy wallets, much wealth exists just in a small bunch of wallets, wow !

https://bitcointalk.org/index.php?topic=92423.0

Nice ! Cheers