Bitcoin Forum

I have been watching bitcoinmonitor.com, and about every 5 minutes, ~3600 BTC have been transfered for the past few hours now. Does anyone know who/what is doing this?

There it goes again. Interesting.

Not only were there a few 3500 trades within a few minutes of each other, there was one for 30,000.00 btc... so, within 20 minutes, 50k bitcoins were moved.. That was only like a total of 7 or so trades, not counting all the small mt.gox sales or smaller xfers...

Wow...

Screencap for those that don't see it :

https://i.imgur.com/Nd8yj.png

Also, look at that various small bubble, it looks like many people that mine 1 - 10 BTC / day send it to Gox now to prepare for selling.

The cascading transactions can be attributed to bitcoin laundering. One amount is shiped to multiple addresses, that ship it further and so on. In the end there are hundreds if not thousands of intermediate stations between sender and receiver, which makes it impossible to proof any direct links.

Thanks for showing me that site! It's pretty cool actually! I presume it shows all valid transactions forwarded by a node in real time?

EDIT : This time, 8 x 20k BTC transferred in 15 minutes, totaling ~160k BTC.

https://i.imgur.com/kfD8x.png

I'm guessing it is a service that has been around for a while.  I see threads like this every once in a while and somebody will come in and go "oh yeah, b*****.com does that to transfer the coins around".

Money launderers move money equivalents without crossing the two, so the source is paid from a different wallet-chain (series of wallets) than the final destination. I guess the less criminal way of naming them is "mixing services".