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Author Topic: Did anybody noticed a transaction of 280000 BTCs?  (Read 3958 times)
gongcheng
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May 30, 2011, 04:23:47 AM
 #1

It can be seen from here:

http://blockexplorer.com/address/1PZjfkLZBT7Q3UFmyEWH8QtuzTMi3MUiBj

What doest that mean?

Is there anything wrong with the BTC system, or some hacker has cracked the system?


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May 30, 2011, 04:30:18 AM
 #2

That's a lotta coins, wonder whose they are? Blockchain sleuths, go!
gongcheng
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May 30, 2011, 04:41:16 AM
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Yes, I really doubt whether some one has so many BTCs for trade.

It worth some like 2.3 million US dollars!!!!!

Hope that is not an hacker! Otherwise BTC will collapse!

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May 30, 2011, 04:50:15 AM
 #4

If I had 280k BTC, I would occasionally transfer it from one address of mine to another, just to freak everybody out. Maybe that's what this guy is doing.

Then, just for the fun of it, I'd make a thousand transfers, all around the same time, so the dots together form a large, scrolling penis on bitcoinmonitor.com.

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MoonShadow
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May 30, 2011, 04:57:48 AM
 #5

Nothing to see here.  There are likely some people with that much coin.  Move along.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
gongcheng
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May 30, 2011, 05:08:04 AM
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Hope what Horkabork said is the case. Otherwise it is terrible for the whole BTC system.

stic.man
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May 30, 2011, 05:30:06 AM
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man if they felt like selling the whole thing it'd be great for anyone looking to get in really cheaply.  I'd buy a crapload afterward.
Anders
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May 30, 2011, 05:54:30 AM
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Professional traders deal with billions of dollars every day. Maybe some of them have started making investments in bitcoins?  Huh
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May 30, 2011, 07:26:27 AM
 #9

Professional traders deal with billions of dollars every day. Maybe some of them have started making investments in bitcoins?  Huh

Is there any professional trader or single account that holds 0.5% of an entire currency?
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May 30, 2011, 10:06:28 AM
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Professional traders deal with billions of dollars every day. Maybe some of them have started making investments in bitcoins?  Huh

Is there any professional trader or single account that holds 0.5% of an entire currency?

I don't know. I thought that professional traders haven't started trading with bitcoins yet. Can be some rich private person making such large bitcoin trades.
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May 30, 2011, 11:44:35 AM
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Professional traders deal with billions of dollars every day. Maybe some of them have started making investments in bitcoins?  Huh

Is there any professional trader or single account that holds 0.5% of an entire currency?

I don't know. I thought that professional traders haven't started trading with bitcoins yet. Can be some rich private person making such large bitcoin trades.

If there aren't professional traders involved, where did the millions of dollars that have been invested come from?  I know I don't have that kind of money.

As we slide down the banister of life, this is just another splinter in our ass.
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May 30, 2011, 11:49:36 AM
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Professional traders deal with billions of dollars every day. Maybe some of them have started making investments in bitcoins?  Huh

Is there any professional trader or single account that holds 0.5% of an entire currency?

I don't know. I thought that professional traders haven't started trading with bitcoins yet. Can be some rich private person making such large bitcoin trades.

If there aren't professional traders involved, where did the millions of dollars that have been invested come from?  I know I don't have that kind of money.

Me neither. Sad Millions of dollars... Probably the CIA. lol.  Cheesy Just kidding. I don't know.
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May 30, 2011, 11:54:18 AM
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I'm assuming that's the same person who's been at the top of the bitcoin richlist for quite some time now.  The owner probably just sends the money to a new address every once in a while.
Dobrodav
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May 30, 2011, 01:38:36 PM
 #14

?
Manipulation of old bitcoin owner to raise "Bitcoin destroy day" value (that suppose to show how much % of  bitcoins in turnover is )  by sending that summ to another own account ?

We will  meet in not-so-distant future.
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hazek
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May 30, 2011, 02:45:25 PM
 #15

Maybe he just moved them to a more secure wallet..

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May 30, 2011, 03:34:52 PM
 #16

I think it merits investigation.

Something is odd about this.

Who could possibly have this many bitcoins? It would have to be a very early adopter someone who was mining when the network was a few dozen nodes.

Have we seen something on this order of magnitude recently? 50,000 BTC or more? If it is a new(ish) trader they must have accumulated into the sending account for some time and in rather sizable amounts?

Is it possibly a group mining leader? Might be more profitable to run a group than we realize.

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elewton
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May 30, 2011, 03:58:56 PM
 #17

There are several 50+x BTC transactions feeding into it.  Those are freshly generated.

I think it might have been someone buying up coins on mtgox or wherever and funelling them to be used, maybe soon.

I hope it's for something legal.
casascius
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May 30, 2011, 04:12:55 PM
 #18

Could also be BTC held on behalf of others.

MtGox / MyBitcoin / etc

Pool operators likely make lots too. Deepbit payout per share is an amount that only pays out 45 BTC per block. Surely the differences covers some risk and expenses but there is likely some left over. That's 10% of some 40% of all blocks, hundreds of BTC every day regardless of difficulty.

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper wallets instead.
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May 30, 2011, 04:55:21 PM
 #19

Also, if my memory serves me, there was a guy not too long ago who made a thread on the forum asking for advice on how to buy 200,000 bitcoin without moving the market too much.  That was when the price was a little over a dollar, I think.  And, from what I remember, he ended up successfully buying 200,000 coins.  Anyone else remember?

Anyway, there are probably a handful of folks with more than 100,000 bitcoins.  One guy was known to have 350,000+.  This isn't something new.
joan
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May 30, 2011, 07:04:47 PM
 #20

According to The Bitcoin Report, the address with the most bitcoins was 297K BTC as of May 27th, so 280K transaction is definitely an extraordinary event. (But several of the top spots might be owned by the same individual…).

Anyway, Rick Falkvinge (founder of PiratPartiet) has stated yesterday that he would convert all of his savings into Bitcoins. So we should expect to see some motion.
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