Bitcoin Forum

Bitcoin => Bitcoin Discussion => Topic started by: relative on June 25, 2011, 04:02:53 PM



Title: Mt Gox wall of withdrawals
Post by: relative on June 25, 2011, 04:02:53 PM
http://bitcoinmonitor.com/

guess what happened shortly after 16:00

what's up with the regular transactions of 46k bitcoins btw?


Title: Re: Mt Gox wall of withdrawals
Post by: dinzy on June 25, 2011, 04:06:33 PM
I am assuming that they are the Gox BTC being brought back in slowly


Title: Re: Mt Gox wall of withdrawals
Post by: mjsbuddha on June 25, 2011, 04:07:25 PM
FLY YOU FOOLS!
http://img252.imageshack.us/img252/2606/fotr1222xc3.jpg


Title: Re: Mt Gox wall of withdrawals
Post by: Tasty Champa on June 25, 2011, 04:10:23 PM

what's up with the regular transactions of 46k bitcoins btw?


If that is MtGox, that is smart.


Title: Re: Mt Gox wall of withdrawals
Post by: MaGNeT on June 25, 2011, 04:24:41 PM
Wow. Look at block 133233:

http://blockexplorer.com/block/0000000000000464742a8d6147c4ef3a0d41658f643d624555a1cfa9c80aa0f3 (http://blockexplorer.com/block/0000000000000464742a8d6147c4ef3a0d41658f643d624555a1cfa9c80aa0f3)

Quote
Transactions?: 146
Total BTC?: 2420579.8421275
Size?: 67.463 kilobytes

WOW  :o


Title: Re: Mt Gox wall of withdrawals
Post by: Tx2000 on June 25, 2011, 04:26:36 PM
Sell sell sell!


Title: Re: Mt Gox wall of withdrawals
Post by: relative on June 25, 2011, 04:26:46 PM
total amount doesnt mean anything. if I make 5 transfers from an address that contains 100k total amount is 500k, even though I might have "spent" only 5 BTC.

if you look at it more closely it probably means they payed out about 2000 BTC in that block - from that address.


Title: Re: Mt Gox wall of withdrawals
Post by: InsanityIsGreat on June 25, 2011, 04:37:47 PM
ABANDON YOUR POSTS!!! FLEEEEE!!!!

http://images.wikia.com/lotr/images/a/ab/Denethor.jpg


Title: Re: Mt Gox wall of withdrawals
Post by: Gabi on June 25, 2011, 04:39:27 PM
3 transfers of 45000 bitcoins each just appeared in bitcoin monitor


Title: Re: Mt Gox wall of withdrawals
Post by: BCEmporium on June 25, 2011, 04:42:08 PM

http://www.youtube.com/watch?v=sbBW-DMJFGw&feature=youtu.be


Title: Re: Mt Gox wall of withdrawals
Post by: relative on June 25, 2011, 04:43:26 PM
3 transfers of 45000 bitcoins each just appeared in bitcoin monitor

3 people got their 50 BTC each out of the same 45k pot.
move the mouse courser over the transaction on bitcoin monitor.


Title: Re: Mt Gox wall of withdrawals
Post by: andes on June 25, 2011, 04:48:18 PM
In Bitcoin monitor, why does a +/- 45k transaction show up recurrently in the last minutes? Anyone has a clue?


Title: Re: Mt Gox wall of withdrawals
Post by: FlipPro on June 25, 2011, 04:49:37 PM
This is all madness  ;D.


Title: Re: Mt Gox wall of withdrawals
Post by: spruce on June 25, 2011, 04:55:07 PM
Sell sell sell!

Sell what?

Everybody just withdrew all their Bitcoins. All that is left in the exchange is Dollars...

Per Bitcoinmonitor, at 15:30 UTC (80 minutes ago) the "big wallet" showed a balance of 49,900 BTC.

It's been taking consistent hits since then, so I assume it belongs to MtGox. Just now, 16:50 UTC, it showed as 44,386.

I assume from the round figure of 50,000 BTC start (nearly) this is not their entire stock of BTC.


Title: Re: Mt Gox wall of withdrawals
Post by: spruce on June 25, 2011, 04:56:09 PM
duplicate post


Title: Re: Mt Gox wall of withdrawals
Post by: Justsomeforumuser on June 25, 2011, 04:56:18 PM
Looks like someone has put up 50k BTC and continuously juggled them around until around 5k were sold and is still pushing them through the system..

But, why? Why not just keep say 5x10k in the 5 biggest exchanges and slowly melt them down if you're cashing out?

Why do they keep showing up as smaller and smaller chunk? Like a BTC iceberg..

Are those blue bubble transactions between BTC clients / wallets or between exchanges and users?


Title: Re: Mt Gox wall of withdrawals
Post by: fitty on June 25, 2011, 04:58:15 PM
Sell sell sell!

Sell what?

Everybody just withdrew all their Bitcoins. All that is left in the exchange is Dollars...

Per Bitcoinmonitor, at 15:30 UTC (80 minutes ago) the "big wallet" showed a balance of 49,900 BTC.

It's been taking consistent hits since then, so I assume it belongs to MtGox. Just now, 16:50 UTC, it showed as 44,386.

I assume from the round figure of 50,000 BTC start (nearly) this is not their entire stock of BTC.

Agreed. It looks like MtGox is paying out of that 50k wallet.


Title: Re: Mt Gox wall of withdrawals
Post by: spruce on June 25, 2011, 05:06:33 PM
Sell sell sell!

Sell what?

Everybody just withdrew all their Bitcoins. All that is left in the exchange is Dollars...

Per Bitcoinmonitor, at 15:30 UTC (80 minutes ago) the "big wallet" showed a balance of 49,900 BTC.

It's been taking consistent hits since then, so I assume it belongs to MtGox. Just now, 16:50 UTC, it showed as 44,386.

I assume from the round figure of 50,000 BTC start (nearly) this is not their entire stock of BTC.

Agreed. It looks like MtGox is paying out of that 50k wallet.

But I just checked my own small withdrawal from Mt Gox and it came from three even smaller accounts, not one.

Can anyone explain?


Title: Re: Mt Gox wall of withdrawals
Post by: Bazil on June 25, 2011, 05:38:51 PM
Well clearly these big transactions are MtGox related somehow


Title: Re: Mt Gox wall of withdrawals
Post by: andes on June 25, 2011, 05:43:08 PM
I heard someone say that 80% of BTC did not circulate.

If that recent block had 2.5 million btc in transactions, does that mean that app. 40% of btc where moved, or no?


Title: Re: Mt Gox wall of withdrawals
Post by: BCEmporium on June 25, 2011, 05:55:29 PM
I heard someone say that 80% of BTC did not circulate.

If that recent block had 2.5 million btc in transactions, does that mean that app. 40% of btc where moved, or no?

Assuming those btc aren't the same, being transacted over and over, and that has something to do with MtGox...


Title: Re: Mt Gox wall of withdrawals
Post by: InsanityIsGreat on June 25, 2011, 06:05:08 PM
Now is the perfect time to buy right when its at 16$ range  8) the price is gonna go back up to 20$+ over the weekend and anyone who hasn't bought it where it is now will get stung then.


Title: Re: Mt Gox wall of withdrawals
Post by: spruce on June 25, 2011, 06:07:21 PM
I heard someone say that 80% of BTC did not circulate.

If that recent block had 2.5 million btc in transactions, does that mean that app. 40% of btc where moved, or no?

Eyeballing it, it looks like about 3700 BTC were moved out, if you ignore change going back to the sender. The biggest transaction looks to be about 400 BTC.

I'm assuming that if there is a starting balance of 413.7654398, which transfers to 2.05 and 411.7154398, then the simple 2.05 is the transfer and the one with all the decimal places is the change.


Title: Re: Mt Gox wall of withdrawals
Post by: spruce on June 25, 2011, 06:09:20 PM
duplicate