Bitcoin Forum

the beauty of this tech to move so large amount without banks/paypal/other shit..

Next time when you post news like this don't forget to add the source, after some search those BTC was spent yesterday and they are not from any exchange, so we have a big whale on the game...

here is the transactions list:

https://www.blockchain.com/btc/tx/e03e0d753a6c9780336cb0c4a0be3f19ff3bb4cff3c34193531ce0277fb20f4b 47,454 BTC worth $451.0 million 
https://www.blockchain.com/btc/tx/997fefc69cd327fb6570c0f6f76c9c053071592e67610140d632b2efc9748c6a 47,404 BTC worth $450.5 million 
https://www.blockchain.com/btc/tx/58d6606d6e16e3899dffe687dc78514420630eb4aa1b5e0f19971a9727f81644 47,465 BTC worth $451.1 million 
https://www.blockchain.com/btc/tx/72acde2d5efc7f0e841d60b4e0cc09d521b2d20243bacd90e87df29a4627c4d5 /1 5,400 BTC worth $51.5 million 
https://www.blockchain.com/btc/tx/82e9086ff65ae15de38e128b5df6278f7a6d4adeb1c0f0c6e9e4ce446b5c65d2 /5 5,357 BTC worth $51.2 million 
https://www.blockchain.com/btc/tx/82e9086ff65ae15de38e128b5df6278f7a6d4adeb1c0f0c6e9e4ce446b5c65d2 /4 5,700 BTC worth $54.5 million 
https://www.blockchain.com/btc/tx/82e9086ff65ae15de38e128b5df6278f7a6d4adeb1c0f0c6e9e4ce446b5c65d2 /3 6,400 BTC worth $61.1 million 
https://www.blockchain.com/btc/tx/82e9086ff65ae15de38e128b5df6278f7a6d4adeb1c0f0c6e9e4ce446b5c65d2 /2 6,600 BTC worth $63.1 million 
https://www.blockchain.com/btc/tx/704cb7fe54df8d7afaa7f9bf57fbde41d05108f20aa490e59f2871079a95b29c /5 6,000 BTC worth $56.8 million 
https://www.blockchain.com/btc/tx/704cb7fe54df8d7afaa7f9bf57fbde41d05108f20aa490e59f2871079a95b29c /4 6,000 BTC worth $56.8 million 
https://www.blockchain.com/btc/tx/704cb7fe54df8d7afaa7f9bf57fbde41d05108f20aa490e59f2871079a95b29c /3 6,000 BTC worth $56.8 million 
https://www.blockchain.com/btc/tx/704cb7fe54df8d7afaa7f9bf57fbde41d05108f20aa490e59f2871079a95b29c /2 6,000 BTC worth $56.8 million 
https://www.blockchain.com/btc/tx/704cb7fe54df8d7afaa7f9bf57fbde41d05108f20aa490e59f2871079a95b29c /1 6,200 BTC worth $58.7 million 
https://www.blockchain.com/btc/tx/c8489f10b7430587e0bd54cce1e9ec36f927d77f81eadd09e9042c347d1864e7 47,357 BTC worth $448.5 million 
https://www.blockchain.com/btc/tx/bb6621428de185bb2ae8b10a63f030b1af61aeca904e2fd6a4399ac41acf5a14 /3 6,756 BTC worth $63.8 million 
https://www.blockchain.com/btc/tx/bb6621428de185bb2ae8b10a63f030b1af61aeca904e2fd6a4399ac41acf5a14 /2 7,000 BTC worth $66.1 million 
https://www.blockchain.com/btc/tx/31e4985c274179df94e3322e710733f9ddb2757da2fe6c486000376cb55e7488 /1 5,800 BTC worth $54.8 million 
https://www.blockchain.com/btc/tx/003b44b752358ae6834c66dadb7f3c48a23e6e028091df961ea90b0e35da2a37 49,756 BTC worth $468.4 million 

Sources: https://dailyhodl.com/2019/07/29/massive-crypto-whales-move-318649-btc-worth-3-billion-in-just-six-hours/
https://www.reddit.com/r/CryptoCurrency/comments/cjfzev/massive_crypto_whales_move_318649_btc_worth_3/

holy shit which people transfer it? :>

That is a shit ton of money. I don't think this is the work of a single individual. This is probably the work of a group of rich whales transferring the funds.

The fees doesn't look too high based on what I have observed. Just imagine the fees involved if the whale chose something like paypal etc. 1.34% of all BTC currently in circulation. Insane indeed.

the way bitcoin is designed you have no way of knowing who the transactions belong to unless the owners tell you themselves! in this case you have no way of knowing if they belong to an exchange or a whale.
and in fact in this particular case these coins you listed are linked to big services, those i checked belong to Xapo!

This is likely just some exchange moving funds from one version of its cold storage wallet to another.

Exchanges often don't advertise their cold storage addresses, or the time frames when they will be making this move as it could be seen an invitation for attack.

No single person owns more than 1% of the total circulating supply of Bitcoin, so this must be a multi-sig address.

At this day and age, there could still be one lucky chap who is still holding that shit ton of bitcoins even though most of the early adopters already sold their own holdings. We will never know as bitcoin is designed to be like that. Or you could be right that it could be exchanges transferring their funds into different cold storage. Movements like these can always be spotted every now and then, and that's the beauty of bitcoin because you can move large funds like this from point A to point B and people can only wonder in awe on who the hell would be moving such amounts like that in a small span of time.

One thing that having the blockchain technology is the advantage of whether the people/company doesn't tell if they want to move their funds somewhere, we still know that they were moving because of this. And these addresses belong probably to some exchanges which i think is not owned by the whale(s).

xapo is a good wallet yet they know their customers very much, what will happen if somebody hacked into their databases

That is a massive amount of bitcoin being transferred and the transaction list was crazy. It like tsunami passing through the blockchain mempool. It is indeed a 3 billion$ worth of bitcoin. I wonder where they are going to transfer those btc or who is the owner of those btc. As long as it will not go inside and exchange then we have nothing to worry and no dump will happen. I guess we need to monitor those wallets movement since if those bitcoins enter an exchange then we will expect bitcoin to  drown back at 1000 dollars.

The thing is that we can only see the huge, huge amount of transaction and then speculate where it came from, where it is going and who owns these coins worth billions of dollars at the current market. How I wish I am the owner even for just a single transaction but that can be beyond of me and there is no ground to dream to be one. Anyway, you are right, these major movements will not be affecting Bitcoin as they are not pumped into the exchanges' ecosystem. That is good news, in face, in the face of the bearish mood happening right now. On the other hand, these transfers are example of the beauty of bitcoin compared to other money remittance systems around as the fees are just minimal.

WOOOOWW!!! This is what I call financial freedom. Limitation is the thing of the past if you use bitcoin for all your transactions. you don't need anybody's approve before making transactions and moreover you can send or receive any amount of funds.  I just wish the world could just accept Bitcoin. This could make the world easier and simple to live in it..

It is hard to speculate whether which this bitcoins came from, who is the sender and where it is being sent it isa an anonymous transaction to be short. We aren't sure that those bitcoins belongs to a whale or just an exchange transfering some funds.To add to that, the fact that transferring those bitcoins with a hundred millions of dollar value and just pay approx $400 for fees are extremely fascinating. You can't do that using a bank or some remittance centers and many more payment processors/forwarding servicing out now.

As mentioned above this was not from the exchange and this belongs to a big whale. We have something to be kept watching from now on.

Maybe this person is really saving bitcoin since before, a miner or what we do not know how he gather that huge amount of btc, and he is waiting for the right time to make a move, transferring it to a safe place where he can still be able to stay anonymous.

its a normal way of whales to keep safe their cryptos,i think what they did is transferring the funds because of a possible case of hacking attempt because huge amount like that is really a jackpot from hackers
or it may also a action to make a movements from the investors as some panicking's may result but whatever reason they have still the important thing is the Bitcoin remains in the wallet and not converted into fiats

I was surprised to see that such a cross-border transaction would send funds in bitcoin without a third person. It would be better and easier, I'm sure the world would accept bitcoin as a legal payment tool in the future, with this freedom people will easily make transactions.

Yes definitely is was a good money, but still, I am happy that what happens in just, they only move the money or transferred it, there's nothing to worry about unless they cash it out for fiats. Maybe, the whales at this time is now starting to position themselves to create good market profits. I am pretty sure that small investors will not just let this pass, one move from whales, many will going to follow. And we should always be prepared for something that is about to happen.

Probably whales, or some miners moving their wealth around and check some and yes, it is still intact so obviously it hasn't been sold off yet. Maybe he is a long term holder for all we known. There has been reported that huge amount of bitcoin is moving around the crypto sphere and it really cost less money as compare to other payment methods and this is bitcoin's advantage.

The only thing that I don't like this being in the media though is that most of the time they exaggerate the movement as if someone is manipulating the price behind.

It's kinda exciting because it's a lot of value that's being moved back and forth, and then we have the speculators keeping an eye on large coin movements, especially when they are being sent to an exchange.

I used to follow whale alert on twitter but it has turned into a spam fest where each large transaction post is cluttered with "they will buy XRP" or "they will buy ADA" posts. Altcoiners must be super desperate to post crap like that.

Damn, does anyone knows what was the purpose of the transfer?

That was how the discussion is flowing since we do not have the idea about the purpose of transfer and what we have are just the numbers and the txid of the transactions being done. Only one thing is clear and that is 3billion$ worth of bitcoin being transferred. This remains a mystery as to who send it, who owns it, and what is the purpose of sending it?. Let us just wait and see maybe somebody  knows the reason and he will comment here in this thread.

Such large transactions in most cases can be linked to crypto exchanges, and by checking some of the posted transactions few addresses are linked to Xapo (https://www.walletexplorer.com/wallet/88bb28e1a5c49d7b?from_address=323ENWgPNZdzsm2d6CzEaPTFrvavn1giv5), so there is no great mystery here. Exchanges are still held a very large percentage of Bitcoins in their wallets, and sometimes move them from one address to another for security reasons.

The most amazing thing is even the fact that the owner was even able to move it without the services of those PayPal and the rest. This is the main function off bitcoin that is scaring lots of people because they know that they will be out of business.

Imagine what PayPal and others would have really made if the whale actually passed the money through them? But there is nothing that they can actually do again right now because the payment system of bitcoin is becoming easier than we think and gradually, every fan or users of those other financial service providers will end up moving completely to bitcoin which will make bitcoin become the world’s global currency even without the approval or the regulation of the government.