Bitcoin Forum

https://i.imgur.com/5ySCQLt.png

https://blockchair.com/bitcoin/address/35hK24tcLEWcgNA4JxpvbkNkoAcDGqQPsP

This address has currently the most bitcoins of all other addresses. If this is one person then he has $1,8B worth. But what could happen if he sold all of his bitcoins? He surely wouldn't get 1,8B. I believe that from the first 10.000BTC he would sell the marketing would start to fall...

Thoughts?

Well, it seems you've tracked huobi's coldwallet
 https://bitinfocharts.com/bitcoin/address/35hK24tcLEWcgNA4JxpvbkNkoAcDGqQPsP

Huobi is an exchange, this is their wallet. The funds funding that address do not belong to the person that has access to it's private key, but to the customers of the exchange.
This is a prime example why you should not keep your funds in an exchange wallet. If the private key holder goes scam, or gets robbed, hundreds, maybe thousands of people will lose their funds.

And what is huobi? A rich company?

I was still editing my previous post, adding more info... But it's an exchange... It's not this company's money, it's the money of the customers of this company (read my first post ;) )

Oh understood, so it's like a big mining pool. So no one can control the address. No one will, basically, more correctly.

No, not exactly, not a pool, an exchange... And there are defenatly people that can spend from this address. Ideally only employees of huobi.

These funds were sent to huobi by people having an account with huobi. They keep their funds on this exchange because they're either not familiar with the many, many, many risks of using an exchange as a wallet... Or because they use their balance to trade on a daily basis.

If an employee that has full access to this wallet decides to rob his/her employer, he can defenately do so. If a hacker or a physical thief can get his/her hands on these funds, they're gone. These are not mining rewards, they're the lifesavings of hundreds (maybe thousands) of customers.

I wonder... Is there any of these addresses controlled by one person: https://blockchair.com/bitcoin/addresses

 ???

Possible...
The only way to find out is by doing a lot of grunt work...

• If a transaction uses multiple unspent outputs funding multiple addresses, the odds are big that the addresses belong to the same wallet
• If an address is funded with coinbase transactions, sometimes you can look at the OP_RETURN's of the coinbase transactions and see if they belong to the same pool as other addresses that were funded with coinbase transactions
• https://www.walletexplorer.com/
• google.com
• sometimes people admit owning the private key for a certain address
• or, if the last transactions funding a certain address were confirmed in very, very early blocks (2009-2010) and if those unspent outputs remained untouched ever since, odds are they belong to satoshi

1FeexV6bAHb8ybZjqQMjJrcCrHGW9sb6uF (https://blockchair.com/bitcoin/address/1FeexV6bAHb8ybZjqQMjJrcCrHGW9sb6uF)  Balance: 79,957.20316890 BTC

Some say might belong to the hacker(s) that did to MtGox job (https://www.ledger.com/hack-flasback-the-mt-gox-hack-the-most-iconic-exchange-hack/)

Just speculating tho...

Omg... 850.000BTC stolen... This guy must be lost forever from the world. Even if he stole so many bitcoins, he can't spend them so easily. He can get caught.

This is an exchange wallet, the funds that you have seen might be enormous in your eye but it comes from various person who has their funds in the exchange. Notice how the huge the amount is that is being composed by many person, I agree if Huobi gets hacked then this will be stolen since it is stored in a single wallet. Better to keep it to yourself at the end of the day, don't let it sleep with the exchange overnight.

There is always a risk to get caught when stealing in general. But considering only 80k from 850k did not move yet... makes you wonder. They stole 6% of total mined BTC at the time
It's like IRL ... the ones with lots of money most likely stole them :))

---

Or might still be another exchange based on the number of output/unspent ... as I said... not sure, just speculating

That's an exchange wallet, they are unlikely to sell it for just one time. If they will dump it, that would probably be in batches. But forget about it, they are like the banks that's storing their funds to keep their business running.

Safe to assume that there are what we so called "whales", pretty much individuals with huge amounts of bitcoin. and yes, if they dumped it all, the price will most definitely crash, and when I say crash, I mean CRASH. A smart person wouldn't really dump it in one go though, it'd be better to sell slooowly. But regardless what the effect on the market is, it's his/her money so he/she has the rights to sell them. :P

It would be stupid to dump that amount of Bitcoin on the market, I believe the he would be lucky to get half of the current value. This has been said to be Huobi address but  I don't like the idea of watching people's address movement, just put yourselve in that shoes

Some (a few) of those addresses have been identified and tagged on the  Bitcoin Rich List (https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html) (the root source of the link provided previously by @mocacinno in this thread). Logically the identified ones are not nominal, but rather more belonging to an Exchange. The columns related to the last input and output of TXs, and the number of TXs, are interesting, but leave you none the wiser as to who they belong to.

Let's ignore the fact that those are not just some single entity funds as others have pointed out already and focus only on the actual sale.
A dump of all those coins wouldn't be that bad as you assume for the market, the price will indeed crash on that exchange to zero but it won't really affect other exchanges that bad until and if those that would have bought coins at a few $ will start selling there.
Basically, the owner will simply sell a lot of his stash for pennies, pulling too little fiat out of the exchange with that move, and leaving enough to raise back the price.  A constant wave of 1000BTC would be far more disastrous as he would pull far more $ out of buyer's pockets with those waves, dropping the price little by little and leaving fewer funds for a bounce back.

Second thing, Coinbase holds 4 times more bitcoin in their wallets.
But because they are not storing them in one single address, nobody cares about them ;D ;D


The 80k BTC wallet if from a different hack, it happened in 2011, here is the funding tx (https://www.blockchain.com/btc/tx/e67a0550848b7932d7796aeea16ab0e48a5cfe81c4e8cca2c5b03e0416850114) from 2011.
The 850k is from the 2013 "hack" and those are all over the place.

You are right ! Thanks for pointing it out :)

I also have a noob-ish question: seems there are many other transactions into that address. Small amounts, true, but what's up with that ?

Sometimes it's for publicity purposes. A lot of people will look at that address. Other times it's just to join in. Sometimes it's begging. Look at some of the addresses that sent -

1BTCWantEdj8gSTzCoGbpTs7Vy214JFFrj, 1DonateMeHPyiwoow9qUDJ2xyJxLbZQuRz, 1Gir1SzVaJzyhtS2iUuo8kwykcBwwxDK39, 1PutinHyi9dSwcixVdAfXsyjr94uhYaUqf

A lot of people sent coins to the very first Bitcoin block to thank Satoshi for creating it.

If funds like this are sold within a span of days...... and i repeat "IF" because selling $10B over a week will not be easy..... that being of this type of funds gets into the wrongs there'll definitely be a price change but by how much is what can't be said.

The firsts were a form of dust attacks, meant to discover any other addresses used by your wallet when you send them by merging inputs
Wiki  (https://en.bitcoin.it/wiki/Privacy#cite_note-18)
I don't know how efficient those were but in the past, every address with hacked coins was bombarded with those.

Then there was another form of spam when blockchain.info allowed tagging on transactions
1 Satoshi Deposits with Label "Blockchain accounts hacked" (https://bitcointalk.org/index.php?topic=805879.0)
Random address sent me 1 satoshi (https://bitcointalk.org/index.php?topic=777998.msg8773849#msg8773849)

Then when the feature was removed, some kept doing this with vanity addresses as spam but it soon became too costly.

And, there are people who are just bored...

Only a complete fool would attempt to liquidate $1.8 billion worth of Bitcoin in a single order. However, since this guy has managed to rack up almost two billion dollars, we can be pretty sure he's not a fool.

Therefore, if he slowly liquidated his holding, he would likely get close to current market value, so long as he unloads over the course of around a month.

Although tens of billions of dollars in BTC are traded each day, the market is not robust enough to take a $2 billion hit in a short time frame.

Reastically, this address is likely a multi-sig wallet held by an institution, so a dump is highly unlikely unless shit really hits the fan.

Another good example of why you should always keep your keys to yourself. For your own safety and for safety of the whole network. Personal responsibility provides overall well-being

Ok, let say, someone owned that wallet. He/she send all of his bitcoin to the exchange, we can use Binance for the example. If all of the bitcoin amounts is completing the confirmation, he can sell all of his bitcoin at once. Let say, he sells all of the bitcoin amounts instantly without making an order sell at many prices. That will make the price will drop until his bitcoin sold, and that will cause a big panic from traders because the price is down in one moment without a chance to back increase.

But after all of his bitcoin is sold, the price will start to rise to the last price before he sold, and maybe the price will still increase. He/she by coincidentally will dump the market in one exchange but not all of the bitcoin markets because he is not spread the bitcoin amount he has in many exchanges. But the other exchanges will not get the effect of what he sold, and that is only happening in Binance.

keeping all those coins in one single address is a horrible idea. Havent they ever heard of "dont keep all your eggs in one basket'?

They should have those spread out over 10+ addresses.

And people in this thread are i believe very wrong. Even if this wallet sold his 1.8 billion dollars of BTC it would only move the price down %1.

180 billion is BTC market cap.

Thanks @Mocacino for clearing op's fear, even if it was owned by just one person, then it belongs to him and his money, if he chooses to sell, we will buy and the world won't come to an end. As for leaving money on exchanges, I simply just avoid leaving a huge fund on exchanges, I don't want to be left in the dark.

This is a exchange wallet and like what the post on the first page this is not their money but from the customer so i believe
there will be no chance that this will be sold at once unless the address is hacked
then it may happen badly .
But even if this happens to be sold ?i think there will not be a Huge impact in the market considering that we have 33 billion volume in 24 hours and has 138 billion in capitalization,maybe there will some shaking but that's all nothing more than that and will recover sooner.

You can easily to do your research with https://coinmarketcap.com/.
I give you this tip because you can use it for future cases. When you hear someone says about a project or an exchange you don't know, go to that site and search. I don't imply that if you see companies (projects / exchanges) are listed on that site, they are legit by default.

There are many scam projects are listed there in 2017 and early of 2018 before the site tightened their listing rules. Now, their names are still there but they are scam projects.

Search result with Huobi: https://coinmarketcap.com/exchanges/huobi-global/

Almost all of that volume is churn from coins inside exchanges that rarely leave. It's traders batting them between each other. It doesn't take a particularly large outside injection of fresh coins deposited solely to sell to really screw with the market.

There's been plenty of talk of the plustoken ponzi being the cause of heavy falls and that's a similar number to some of these wallets and they're stepping the sells over a long time.

You know, some folks will still not heed to these words of wisdom and still save their funds at exchanges thinking it will lessen the time to buy into a cheap coin when it dumps but little did they know that they are going to lose their funds the exchange gets hacked.