Bitcoin Forum

A massive 94,505 bitcoin transaction made crypto headlines as investors and investigators speculated from whence the BTC came.

The wallet, first accessed late on September 5, 2019, has been involved in only seven transactions including the massive whale move. Other moves include a $6,644 deposit early on September 6 and a deposit of $6.66 a few hours later.

https://www.coindesk.com/massive-1-billion-bitcoin-whale-transaction-makes-waves

Is a big amount who can crash easily the markets, that's why people and investors get in panic after seeing that enormous transaction.

The bitcoins haven't been sold, but if the owner decides to do it I think we will see a price crash down to $7k. So, let's keep an eye on the addy who holds those coins.

it involves  more then that one move

this address sent 18000 coins 2016-11-29

https://www.blockchain.com/btc/address/1L9e2x2MyX3afBYKQF8KFzScTJp73E3d3Q


to this address

https://www.blockchain.com/btc/address/1JCe8z4jJVNXSjohjM4i9Hh813dLCNx2Sy?offset=100&filter=6


which then sent those 18000 to  2019-09-06

and also 20,000

and also 15,000  total of 53,000



https://www.blockchain.com/btc/address/37XuVSEpWW4trkfmvWzegTHQt7BdktSKUs


you can trace further back  on those 18,000


there were more then one big sending address on sept 6 this year.

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https://www.blockchain.com/btc/address/15NQthxeLSwMtEaXJFM7YUCf59LzmFjkeH
this  one sent 11800

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https://www.blockchain.com/btc/address/1PfceCKGraSPEvx6nfjw5ZCLLy8Ct23Qd5
this one sent 15000

---

this one sent

https://www.blockchain.com/btc/address/1KKiEAkpnQR2FH5kpkGP6442ZDkd6ZdrRS

12800

the other 3 did 39600   this adds up to  92,600 of the 94,504 send


the coins have been around a while.



the 1KK was filled in 2017  from the 1JCe address

What is the significance of tracking such huge transaction ?

I see it as normal transaction considering the blockchain which helps them move such huge amount of money without hassle.

Seems like Satoshi's first principle is proven here one more time. No limits on transaction and no extra identification for the same.

Even we should not take this transaction very seriously when it comes to the trading, holding and stuff like that. I mean most of us might get afraid that there might be huge sell off and thus dropping the prices heavily.

But this could be just normal transaction where they are moving the coins to another location for safety reasons. Moreover it would be hard to sell such huge amount in exchange with fiat currency.

It's good though, we gotta see such whale exists around us. (Might be an exchanger also).

this is already an old news from many days ago and there are multiple topics discussing this with no purpose. and that address has a higher chance of belonging to a big service instead of a big whale, specially since whales don't keep all their coins in one address, they spread them around for this very reason (so people don't see what they do that easily!).

It just goes to show that the crypto industry is a highly speculative one. The only reason traders do that which is quoted is so as to monitor what the big hodlers/whales are doing in order to garner trading decisions. Fundamentals/news are the major driving force in cryptocurrency and shouldn't be overlooked.

nick szabo thought it was worth noting. (https://twitter.com/NickSzabo4/status/1169848736819773440) the value of the transaction was so large that it created significant incentives for an attacker to perform a reorg. this is not something you see everyday.

The uncertainty of the identity of the person behind this transaction, is exactly what we wanted from Bitcoin.  ;)  The fact that this ghost whale has not been identified, shows that pseudo anonymity is working and that is very good for everyone.  ;)

I still think this has something to do with Bakkt, but only time will tell if this was a Bakkt transfer of coins.  ;D  Why is this timed with the opening of the Bakkt warehouse? It would be interesting to see, what happens when people starts using this platform and what their response would be. 

The Bakkt thingy was one speculation floated around that time. We all know that they are expected to accept withdrawals/deposit around that time so most likely it could be them.

But this was days ago, nothing significant happen after the move, bitcoin remains above $10k and all speculation above who's the entity behind fall into deaf ear.

I know that, that monitoring every transaction made by a big trader is included in fundamental analysis, but we don't always consider it to be a threat or a big impact. When whale send a very big bitcoin to another wallet, it does not mean they will sell it, sometimes they share it on several wallets. What needs to be monitored is each transaction at exchange wallet address because it has potential to be sell.

This happens quite often, just you do not always pay attention to it. It doesn't matter

Did the whale transfer his coins to a Segwit address? Plus he also moved his Rogercoins and Craigcoins to new addresses.

https://www.blockchain.com/bch/address/1JCe8z4jJVNXSjohjM4i9Hh813dLCNx2Sy

https://bchsvexplorer.com/address/1JCe8z4jJVNXSjohjM4i9Hh813dLCNx2Sy

Those are good "dividends". 8)

You guys just over speculating it, Maybe that transaction came from a Mixer site.
or some Bitcoins Casino or something else. no one will sold that high amount of coin.
They need to stop Overthinking about it or else they cannot move on with their life
No one's gonna tell them what's that Bitcoin for since the real owner is taking precautions
action for every move it takes.

I do not think that it is worth paying attention to even such large transactions, because they still do not affect the price of bitcoin

I think 1 billion dollars transaction was the biggest one so far.This was done by whale on a periodic for the reduction of bitcoin price in a short while.When the price was reduced huge,their will be huge purchase by the whale.And the repeat the step for many times.It may be their move to reduced the price.This is the reason for the decentralized concept of the bitcoin.

How much confirmations would be needed for the $1,000,000,000 transaction to be "safe" for the recipient? It must be tempting for some miners to reorg the chain. Hahaha.

The amount is quite huge looking at the market at present. One thing is that: This may be a strategy to get some traders to panic and at the end, they just buy more and the weak traders may just have to buy at a higher rate after a sell off. This is partly how the whales control the market.

10k to 7k is not a crash, its like a mere 30% loss. Why do you insist in abusing the word crash? Let the whale sell them, it means cheap bitcoin for the few lucky that manage to buy them, i would expect a very quick correction afterwards.


Bitcoin's future is sealed in its code. Those who don't trust it, are welcome to sell them, its better for all of those who don't trust it to get rid of theirs, and the true holders to amass them. You will see this is part of the irreversible process of maturity, including price stability, which should healthily slow down its constant price increases and eventually settle somewhere within 1 digit yearly increase (because fiats are all being devalued intentionally). Could take a few more decades...

Even by propagating the news is doing more harm than good because I don't think there is anyone reading this news that have as much as $1billion to inject into the market should this amount goes out which means if this move would crash the market, there is probably nothing that anyone can do about it. However, just reading about it could cause a panic move of things because with this sale and its effect should it happen, I can just go ahead and dump which would further drop the price even before the main event that caused it.

The point is, we need to start focusing on other things rather than tracking transactions whose purpose or owners are even unknown to us. Let them do their things while others do theirs as well.

"more than 40 days" worth of blocks, according to nick szabo. (https://twitter.com/NickSzabo4/status/1169848736819773440) it seems like there's a lot of trust in miners not to jeopardize their long term interests.


when's the last time you saw a billion dollar transaction? ::)

But is it actually depending all on trust to the miners? What about the threat of the community to the miners, like the UASF? The incentives in Bitcoin goes around greed, but it's more profitable to be honest.

Simple economics (supply and demand);

* If the transaction is moving TO an exchange, prepare for a dump
* If the transaction is coming FROM an exchange to a personal wallet, prepare for a pump

Most of the time these large transactions are just exchanges moving money between their treasury accounts, or are an institutional investor moving money to their custodian. They shouldn't have any effect on the price action.

Transaction TO exchange can happen from another wallet of the same exchange (rarely, but it's possible). Or maybe it's a transfer done for future arbitrage.
Transaction FROM exchange may not mean nothing at all. Why would people withdraw before buying more?! What if the recipient is an unknown wallet of the same exchange (consolidating)?

So I wouldn't rely on those rules...

How many years will it take for that many Bitcoins to be scattered to different people around the world, that is a huge amount. If those coins are sold, it could lead bitcoin price moving downwards in an unwanted state. Hope it does not come to that and will just have keep our eyes open and see what comes next on those coins.

Not who you quoted but I'll chime in anyway. Basically yes, because you're trusting them not to do something they're fully capable of. I don't think they could be motivated by profit in this case though, considering the fact that successfully pulling it off would also entail Bitcoin prices reverting to ice age prices in a hurry. Attackers basically have to sell everything the instant they double spend, or else it's likely they lose massive amounts of money (due to prices sliding) and any future mining income (since an attack like this would probably destroy Bitcoin and most if not all alts).

The thing they don’t understand is that bitcoin market is for everyone, and a place where people deposit their money, to make use of it for a purpose and not everyone we have will keep their money tied down for ever, at one point, they will surely have a need for it.

People who complain of others pulling out their money are just selfish, they want another person to keep money for their own to grow, and the moment they get that opportunity, they will never wait for the other person’s own to grow but remove it immediately. People are more concerned about the investment in bitcoin than they are concerned about the currency usage of it and I think if we can get a very high adoption of currency users, then bitcoin will decrease less.

We all are inherently selfish. Seeing such a large transaction take place makes people uncomfortable because they think that these coins will be sent over to an exchange to be sold.

With how illiquid this space is, I can understand where people's concerns comes from, but they shouldn't automatically assume that coins are going to be sold on a spot exchange.

There is a lot of nonsense going on with Twitter accounts reporting about large transactions. In the comment section you usually see trolls say that dumps are coming, or that whales will buy XRP, etc.

I think that a lot of the people being afraid of dumps have been reading too many of these troll comments. It's one big circus show where broke ass trolls and XRP bag holders hang out so better not pay attention to them.

the "threat of the community" is ultimately external to the protocol. the UASF if unbacked by hash power would have been a soft-hard fork because it would stop following the most-work chain. that's a hard fork. so the UASF threat was less dependent on the protocol itself, and more so on trust in miners to "do the right thing" out of risk aversion.

i think that's what nick is suggesting here as well. the economic incentives entailed by the protocol are strongly in favor of performing a reorg attack. since 51% attacks are compatible with bitcoin, the community would need to organize externally and hard fork to do anything about it. how likely is that?

in other words, that's a lot of trust in miners.

Cryptocurrency Deals Can Always Be Erased, for a Price (https://www.bloomberg.com/opinion/articles/2019-01-16/bitcoin-and-other-cryptocurrencies-are-open-about-being-at-risk) :)

i disagree with this part.
large moves happen a lot of times in bitcoin, maybe not $1 billion at a time but millions are being moved regularly using bitcoin and none of these transactions have ever made anybody uncomfortable.
what makes the uncomfortable is the news sites and all these scam "whale alert" sites that are spreading FUD all over the internet talking about "dumps" and "price drops" because of such moves. in other words people don't think that way, these sites make them think that way.

With millions, if it happens on a daily basis, it would not be of concern to us because we know that when there is millions of withdrawal, there will always be millions of deposit also, so there will be a balance, but for a transaction of 1 billion dollars man, it is really not easy not to get people panic because they will feel that something must have made them want to sell it, maybe there is negative policy that would have caused that, but that is actually not enough for it to create panic for us to now dump our coin at low amount.

If the movement was more than that, like maybe that transaction like 10 times, then it would have sent a signal already to us. We just need to understand that people have money in this cryptocurrency space and they would always need it at a point to use it for things outside the bitcoin. It is just like putting money in their bank and withdrawing it at the time they need it.

Aha! At least we know the Bitcoin whale is definitely not a Bitcoin maximalist. If he were, he would have already sold both BTC wannabes long ago.  I think the BTC will end up with Bakkt's custody.

Many possibilities, this could be Bitcoin belongs to an exchanger. or one of the Bitcoin purchase transactions with cash as you mean, without going through echanger. Or the old Bitcoin people who move their assets to a fresher wallet.