Bitcoin Forum

I'm not sure if we'll ever know what it'll feels like to invest a billion into bitcoin, but what can one do once the price starts to crash to £166 GBP/ Per btc.
Take a look at this address for example: 39ngTt6DWQRUbzjmx6ucxz7pPvQcm52CL3 managing over $1.4B worth of bitcoins. Several questions popup such as "What if the price declines below £100?" "How would they be able to swiftly sale the bitcoins?" And then the thread https://bitcointalk.org/index.php?topic=839314.0 comes into handy. Was bitcoin just a bump, to be dropped?

Blockchain quicklink: https://blockchain.info/address/39ngTt6DWQRUbzjmx6ucxz7pPvQcm52CL3 (https://blockchain.info/address/39ngTt6DWQRUbzjmx6ucxz7pPvQcm52CL3)

Most of the transactions coming to that address have 5 or more senders.  I don't think this is an individual, but a service/exchange that's holding onto a lot of people's coins.  Hope they have their security down ::)

Wow this is amazing. I wonder where its coming from exactly.

I don't think there are many ppl who will be calmed enough to hold such large amount of btc especially at the time the price declines a lot! There are still a lot of believers there not caring about the price!

I'm sure these people know what they are doing. It's not like when they make investment they haven't prepare for all these eventualities when it comes to price dropping. But anyway have reasons to believe that these are exchangers account.

Well they are using 3 Factor Multi-Sig at present
So whatever service it is has at least some rudiments of security down pat
Whether that means three distinct operators or one person controlling all three keys is another story XD

I might be a bit off given that Bitcoin values are fluctuating but total recieved is just a tad under 1 Billion still a damn impressive sum of money to move back and forth
91,559,816.63

With a total balance sitting
2,354,836.13 at time of observation.

Or Roughly 892 million moved over six months (148.67 Million a month) Equivalent to sell pressure of $495,500 a day if it was pure conversions to fiat (30 Days)

Not bad at all considering its first transaction was on
 2014-09-18 15:00:14
According to the first recieved txt on the address
https://blockchain.info/address/39ngTt6DWQRUbzjmx6ucxz7pPvQcm52CL3?offset=1050&filter=0

(If a billion was sold into the market that answers your question of how they swiftly sell, they are one of the main sources of volume that helps drive the price by taking all the demand and pushing it down converting to fiat.)

True. But when the price starts slowly going up, it s a completely different story.

This is one thing I hate about BTC. People can look at all your BTC movements. You've got to have several wallets and avoid making large transactions not to have some voyeurs creeping.

One of bitcoins most iconic features, is transparency. I really don't see any harm done by this, unless you would rather prefer a centralised, closed-system, where someone hands you a software/coin and tells you its trustworthy.


I was hoping for answers, closely tailored in response to the above topic. ::)

not a big deal as most peoole have public wallets and private wallets.
you can use a mixer or an exchange to make private transactions. But that's for those who don't like sniffers.
or if you want to send coins to your cold wallets.

Bitcoin price is just effect of human psychology, there is nothing like: production cost of bitcoin. Well, mining may be something like that but it is not exactly the same. It is normal that price will be gravitating towards production cost. That mean bitcoin may be worth less and less...

Bitfinex? http://www.walletexplorer.com/wallet/8e1c18085e8958ce?from_address=39ngTt6DWQRUbzjmx6ucxz7pPvQcm52CL3

I think noone is enough calm to invest to a such large amount of BTC . Unless he's Bill Gates

It's clearly not from an individual user. There are a lot of similar Bitcoin addresses which in and out lots of transactions. It starts with 3, so it has to be multi-sig address.

It has nothing to do with current prices. Ups & downs happen all the time, independent of these addresses movements.

That is in no way a reason to hate bitcoin. Even though its transparent its impossible to know if the coins are moving to an exchange to be sold, or is the person just sending it to another wallet.
And its also not easy to figure out who the owner to those coins is.

Agreed. If you truly want to anonymize your holdings it is not a difficult thing to do. I prefer the transparency of the block chain. It makes the job of criminals more difficult and holds businesses more accountable.

I wholeheartedly agree. I really, really, really , don't understand why people are complaining about not having enough anonymity using bitcoin. It may take a little more effort on your part, but it's completely doable and possible.

Seems likely to be an exchange.
Regarding transparency, that is one of the main selling points, but in an all bitcoin world it would be very different.  If you pay your mate your 1000 satoshis you owe him, and he can see how much money you have in you account because you did that... it'd be odd, but I guess we'd get used to it.  You could also check out how much everyone earns!

Thats true it just really depends how successful the economy is overall. If people have the extra money they will try that bitcoin thing. lol