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Title: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: davout on June 12, 2011, 08:45:05 PM This transaction (http://blockexplorer.com/tx/a09ac44c71a314316431f53dcf51d5c0ffdf85b738a6b07f622012ee41b38c16) (432kBTC) is MtGox moving money.
Why is mtgox moving so much money ?? Compromised server ? Japanese governement raid ? Routine maintenance ? Something smells pretty fishy... I'll be very reassured when trading is possible again and funds withdrawable... Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: piuk on June 12, 2011, 08:46:25 PM How do you know it's MT.gox?
Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: Findeton on June 12, 2011, 08:46:58 PM Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: davout on June 12, 2011, 08:48:11 PM How do you know it's MT.gox? Because I know how to read the fkn blockchain.Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: Astro on June 12, 2011, 08:49:04 PM We've seen him move things around before. Why is this time different?
Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: piuk on June 12, 2011, 08:53:28 PM Thats a hell of a lot of BTC just to have earned from transaction fees, he must be trading as well to make that much. I don't like the idea he's trading because he has a huge advantage over everyone else.
Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: bcearl on June 12, 2011, 08:54:54 PM Here it is on blockexplorer:
http://blockexplorer.com/tx/a09ac44c71a314316431f53dcf51d5c0ffdf85b738a6b07f622012ee41b38c16 Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: MemoryDealers on June 12, 2011, 08:56:10 PM If anything, this should make you feel MORE safe.
I spoke with the MTgox guys a few days ago and they were very confident that even if he was raided, everyone's bitcoins would be safe. They are stored somewhere off site, in a foreign country, encrypted. I suspect they are just they are overwhelmed by the quick growth of their business. Just look at the stats. They do more than FIFTY TIMES more transactions than all the other exchanges COMBINED! Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: davout on June 12, 2011, 08:59:10 PM Thats a hell of a lot of BTC just to have earned from transaction fees, he must be trading as well to make that much. I don't like the idea he's trading because he has a huge advantage over everyone else. You don't seem to get it, he didn't move *his* money, he moved *my* money.I think it smells funky, because if it was about consolidating coins that would have been a scheduled maintenance, anyway, consolidating coins to a single address is pretty pointless... If anything, this should make you feel MORE safe. That's really stupid, my USD balance isn't stored in the blochain.I spoke with the MTgox guys a few days ago and he was very confident that even if he was raided, everyone's bitcoins would be safe. Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: bcearl on June 12, 2011, 08:59:53 PM Maybe some billionaire just took ten million dollars to have some fun and bought all the coins?
Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: davout on June 12, 2011, 09:02:24 PM Trades seem to be happening again
Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: Grant on June 12, 2011, 09:03:26 PM Trades seem to be happening again Yay, time to panic sell, or panic buy ;) Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: davout on June 12, 2011, 09:04:46 PM Trades seem to be happening again Yay, time to panic sell, or panic buy ;)Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: cypherdoc on June 12, 2011, 10:39:43 PM How do you know it's MT.gox? Because I know how to read the fkn blockchain.Look, the guy asked you a legtimate question; how do u know its mtgox? i know how to read the block chain as well and there is nothing to indicate its mtgox who did that tx. there are other addresses in the past that have accumulated over 400K BTC's as well if u click back thru this exact chain leading up to this tx. Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: Quantumplation on June 12, 2011, 10:43:07 PM How do you know it's MT.gox? Because I know how to read the fkn blockchain.Look, the guy asked you a legtimate question; how do u know its mtgox? i know how to read the block chain as well and there is nothing to indicate its mtgox who did that tx. there are other addresses in the past that have accumulated over 400K BTC's as well if u click back thru this exact chain leading up to this tx. The transaction shows where the money originally came from. I receive bitcoins at Address A. I send them to Mtgox. Mtgox sends them to singular address. Since I know what my address was, and the exact amount I transferred, I know it was mtgox doing the transfer because I can trace the btc back to myself. Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: evoorhees on June 12, 2011, 11:45:49 PM The thing keeping MtGox money the most safe, is that the owners have an extreme self-interest in preserving the integrity of their trade platform. They will be getting rich for as long as it remains the primary trusted Bitcoin exchange. It would be the height of foolishness to "cash out" and run off with Bitcoins. They'd never be able to offload them before prices crashed and they'd have nothing of value, and no exchange to sell it on. Even if they did cash it all out and make a fortune, they'd have sacrificed what could be one of the most successful companies of the next decade. It'd be like someone selling full ownership of the NYSE for $10m.
The safety of the deposits is more in MtGox's interest than it is in the interest of MtGox clients, I would presume. Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: cypherdoc on June 12, 2011, 11:47:00 PM How do you know it's MT.gox? Because I know how to read the fkn blockchain.Look, the guy asked you a legtimate question; how do u know its mtgox? i know how to read the block chain as well and there is nothing to indicate its mtgox who did that tx. there are other addresses in the past that have accumulated over 400K BTC's as well if u click back thru this exact chain leading up to this tx. The transaction shows where the money originally came from. I receive bitcoins at Address A. I send them to Mtgox. Mtgox sends them to singular address. Since I know what my address was, and the exact amount I transferred, I know it was mtgox doing the transfer because I can trace the btc back to myself. thats fine and true. sounds like you're just conjecturing what davout is alluding to. i'd like to hear that fact from him, though, since he's the one pointing the finger at mtgox. but unless someone recognizes an address there's no way to tell from the block chain itself who sent what to whom. Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: bitcoinminer on June 12, 2011, 11:48:47 PM For what it's worth, there's a little more than a dollar desparity between Mt Gox and Tradehill - could be some nice day trading to be had :)
Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: cypherdoc on June 12, 2011, 11:48:52 PM Even if they did cash it all out and make a fortune, they'd have sacrificed what could be one of the most successful companies of the next decade. or next millenium Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: onesalt on June 12, 2011, 11:49:12 PM This transaction (http://blockexplorer.com/tx/a09ac44c71a314316431f53dcf51d5c0ffdf85b738a6b07f622012ee41b38c16) (432kBTC) is MtGox moving money. Why is mtgox moving so much money ?? Compromised server ? Japanese governement raid ? Routine maintenance ? Something smells pretty fishy... I'll be very reassured when trading is possible again and funds withdrawable... Seriously, it's thoughts like this that are destroying bitcoin. If people keep this "huh something I don't understand is going on IT MUST BE THE GOVERNMENT DOING IT TO DESTROY ME" the only thing people will think when they think bitcoin is insane, tinfoil hat wearing loonies and it'll never be taken seriously, and I don't want that to happen, So please stop doing it. Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: k on June 12, 2011, 11:52:07 PM why start a new thread when this was already being discussed here http://forum.bitcoin.org/index.php?topic=15984.msg209464#msg209464 (http://forum.bitcoin.org/index.php?topic=15984.msg209464#msg209464)
Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: rezin777 on June 12, 2011, 11:59:41 PM Seriously, it's thoughts like this that are destroying bitcoin. If people keep this "huh something I don't understand is going on IT MUST BE THE GOVERNMENT DOING IT TO DESTROY ME" the only thing people will think when they think bitcoin is insane, tinfoil hat wearing loonies and it'll never be taken seriously, and I don't want that to happen, So please stop doing it. Destroying Bitcoin? People will post what they post. The internet makes it so easy to be the unshaven, unwashed, whiskey breathing, flea ridden guy standing on the corner with a cardboard box sign that says "The end is nigh, commit your first born unto me". No serious investor makes a move because of something some random guy said on an internet forum. And if they do, thank Stimpy that we can profit from their lack of insight and shortsightedness. Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: Maged on June 13, 2011, 12:28:32 AM There is nothing odd at all about this. He's just transferring most of MtGox's coins off-site. That means that you won't be able to access these funds even if you had root access to his server. This is a GOOD thing. In fact, I'd be worried if we DIDN'T see this.
Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: k on June 13, 2011, 12:44:00 AM what happens when people buy BTC for $ on MtGox, won't it need to come from this address http://blockexplorer.com/a/8d7f1vDvvw (http://blockexplorer.com/a/8d7f1vDvvw)? it's still all there. do people leave that much BTC with MtGox that ~432k BTC can be put aside and still meet the demand of people buying BTC?
Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: Durr on June 13, 2011, 01:02:29 AM MtGox is going short
Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: onesalt on June 13, 2011, 01:08:23 AM Seriously, it's thoughts like this that are destroying bitcoin. If people keep this "huh something I don't understand is going on IT MUST BE THE GOVERNMENT DOING IT TO DESTROY ME" the only thing people will think when they think bitcoin is insane, tinfoil hat wearing loonies and it'll never be taken seriously, and I don't want that to happen, So please stop doing it. Destroying Bitcoin? People will post what they post. The internet makes it so easy to be the unshaven, unwashed, whiskey breathing, flea ridden guy standing on the corner with a cardboard box sign that says "The end is nigh, commit your first born unto me". No serious investor makes a move because of something some random guy said on an internet forum. And if they do, thank Stimpy that we can profit from their lack of insight and shortsightedness. If no one invests in making their marketplace or site bitcoin capable because all they see is insane paranoid scheziophrenics who believe the government wiretapped their bathroom to steal their bitcoins then how is it ever going to get popular support? I want bitcoin to succeed, it's an excellent idea but currently the community seems to be really trying to destroy it (announcing they're going to use it for tax evasion, purchasing drugs, government conspiracies and such like). Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: jgarzik on June 13, 2011, 03:43:58 AM If no one invests in making their marketplace or site bitcoin capable because all they see is insane paranoid scheziophrenics who believe the government wiretapped their bathroom to steal their bitcoins then how is it ever going to get popular support? I want bitcoin to succeed, it's an excellent idea but currently the community seems to be really trying to destroy it (announcing they're going to use it for tax evasion, purchasing drugs, government conspiracies and such like). We're working on a forum reboot, switching the current mess for a more business-professional one at weusecoins. As the "official" bitcoin forum, this is just an embarrassment. Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: imperi on June 13, 2011, 03:58:09 AM If no one invests in making their marketplace or site bitcoin capable because all they see is insane paranoid scheziophrenics who believe the government wiretapped their bathroom to steal their bitcoins then how is it ever going to get popular support? I want bitcoin to succeed, it's an excellent idea but currently the community seems to be really trying to destroy it (announcing they're going to use it for tax evasion, purchasing drugs, government conspiracies and such like). We're working on a forum reboot, switching the current mess for a more business-professional one at weusecoins. As the "official" bitcoin forum, this is just an embarrassment. Thank you!! I'm really glad you're doing this. Keep up the good work! Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: ctoon6 on June 13, 2011, 04:30:40 AM I think it's a bad idea to have all your Ƀ on 1 address, what if you won the lottery and randomly pulled that address when you made a new one? If I were them I would have no more than Ƀ1k per address.
Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: JohnDoe on June 13, 2011, 04:36:03 AM As the "official" bitcoin forum, this is just an embarrassment. Subjective. Your goatee could be thought of as an embarrassment as well. Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: FreeMoney on June 13, 2011, 04:46:51 AM I think it's a bad idea to have all your Ƀ on 1 address, what if you won the lottery and randomly pulled that address when you made a new one? If I were them I would have no more than Ƀ1k per address. Winning the lottery: 1 in 10^7 Taking the money from that address: 1 in 10^140 Hmm, only 20 times harder. Math is so hard! Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: ctoon6 on June 13, 2011, 04:49:19 AM I think it's a bad idea to have all your Ƀ on 1 address, what if you won the lottery and randomly pulled that address when you made a new one? If I were them I would have no more than Ƀ1k per address. Winning the lottery: 1 in 10^7 Taking the money from that address: 1 in 10^140 Hmm, only 20 times harder. Math is so hard! it is still possible and its never a bad idea to be safe than sorry. Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: Quantumplation on June 13, 2011, 04:49:42 AM I think it's a bad idea to have all your Ƀ on 1 address, what if you won the lottery and randomly pulled that address when you made a new one? If I were them I would have no more than Ƀ1k per address. Winning the lottery: 1 in 10^7 Taking the money from that address: 1 in 10^140 Hmm, only 20 times harder. Math is so hard! Apparently math is hard, because it's actually 10^133 times harder. Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: kr105 on June 13, 2011, 05:29:12 AM I think it's a bad idea to have all your Ƀ on 1 address, what if you won the lottery and randomly pulled that address when you made a new one? If I were them I would have no more than Ƀ1k per address. Winning the lottery: 1 in 10^7 Taking the money from that address: 1 in 10^140 Hmm, only 20 times harder. Math is so hard! Apparently math is hard, because it's actually 10^133 times harder. Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: Kman54 on June 13, 2011, 05:47:03 AM Quote As the "official" bitcoin forum, this is just an embarrassment. This is true, this forum is doing nothing to help the market and its been trolled harder then I've seen any forum trolled. Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: cypherdoc on June 13, 2011, 01:17:53 PM Quote As the "official" bitcoin forum, this is just an embarrassment. This is true, this forum is doing nothing to help the market and its been trolled harder then I've seen any forum trolled. what do u expect? there's money involved. Title: Re: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address ! Post by: davout on June 13, 2011, 01:51:46 PM There is nothing odd at all about this. He's just transferring most of MtGox's coins off-site. That means that you won't be able to access these funds even if you had root access to his server. This is a GOOD thing. In fact, I'd be worried if we DIDN'T see this. MagicalTux is a smart guy, if he really wanted to consolidate all the coins he would probably have dispatched them to multiple addresses.Because even if highly unlikely address collisions could occur, but a better reason would be to not leak so much information, because with that transfer I can see how much money was sent in, at what time it was sent in etc. Again, I'm just curious |