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Author Topic: Did anybody noticed a transaction of 280000 BTCs?  (Read 5110 times)
cloud9
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May 30, 2011, 07:29:47 PM
 #21

Judged by all the one to multiple address transaction it should be a service provider on the Bitcoin network of some sorts, it could be mybitcoin.com , or deepbit mining pool , or mtgox , or just a rich paranoid privacy concerned individual splitting and consolodating and transferring his BTC.  Very unlikely, but investigation is warranted, someone could have double spend himself up to that amount by gaining control of the network with a botnet - but then that would have shown as a spike in the network hash here when it happened:

http://bitcoin.sipa.be/

Also if you add all the major mining pool's network hash power (see bitcoinwatch.com) - it equates roughly to the network total, and nobody at present has a majority to override network algorithm rules and accept his own double spend.  This again shows how important it is for the network integrity that it is decentralized and not monopolized/centralized under one major mining pool.

Or it could be something/someone hiding and double spending in the "Other" category of miners as shown on bicoinwatch.com , doubt that though - it is only fairly recent development when deepbit mining pool went down, but definitely worth inspecting by the blockchain inspectors!!

Disclaimer:  Postings of Cloud9 are only individual views of opinion and/or musings and/or hypothesisses.  On a non-authoritative, peer-to-peer public forum, you do not need permission from Cloud9 to derive your own conclusions or opinions, so please do.  Calculations and assumptions to be verified.
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May 31, 2011, 01:03:05 AM
 #22

Looks to me like this could be (one of) MtGox's reserve wallet(s). Not much of a surprise here.

FooDSt4mP
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May 31, 2011, 01:10:41 AM
 #23

Judged by all the one to multiple address transaction it should be a service provider on the Bitcoin network of some sorts, it could be mybitcoin.com , or deepbit mining pool , or mtgox , or just a rich paranoid privacy concerned individual splitting and consolodating and transferring his BTC.  Very unlikely, but investigation is warranted, someone could have double spend himself up to that amount by gaining control of the network with a botnet - but then that would have shown as a spike in the network hash here when it happened:

http://bitcoin.sipa.be/

Also if you add all the major mining pool's network hash power (see bitcoinwatch.com) - it equates roughly to the network total, and nobody at present has a majority to override network algorithm rules and accept his own double spend.  This again shows how important it is for the network integrity that it is decentralized and not monopolized/centralized under one major mining pool.

Or it could be something/someone hiding and double spending in the "Other" category of miners as shown on bicoinwatch.com , doubt that though - it is only fairly recent development when deepbit mining pool went down, but definitely worth inspecting by the blockchain inspectors!!


Double spending does not create double the coins.  One of the two transactions will be rejected.  If you could sustain a fork for a while, it would take a while for that to happen, but if there was a fork for more than a block or two it would quickly be noticed.

As we slide down the banister of life, this is just another splinter in our ass.
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May 31, 2011, 03:54:27 AM
 #24

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.

Someone gotta make a program that carefully times an array of transfers in order to draw or write things on those graphs

(I dont always get new reply notifications, pls send a pm when you think it has happened)

Wanna gimme some BTC for any or no reason? 1FmvtS66LFh6ycrXDwKRQTexGJw4UWiqDX Smiley

The more you believe in Bitcoin, and the more you show you do to other people, the faster the real value will soar!

Do you like mmmBananas?!
gongcheng
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May 31, 2011, 09:06:47 AM
 #25

The guy with 297k BTC in the top of bitcoin report could be the guy took the 280k BTCs because from this page
http://blockexplorer.com/address/1PZjfkLZBT7Q3UFmyEWH8QtuzTMi3MUiBj

showed that the address 1PZjfkLZBT7Q3UFmyEWH8QtuzTMi3MUiBj has a balance of 297k BTCs.

gongcheng
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May 31, 2011, 09:08:24 AM
 #26

Did anybody tried to send your money from one address to another?

What will happen?

TTBit
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May 31, 2011, 05:20:07 PM
 #27

Think I'll send 0.01 btc to that address, just to screw up his accounting.

good judgment comes from experience, and experience comes from bad judgment
SgtSpike
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May 31, 2011, 05:28:56 PM
 #28

Here's 300,000 of some of the same coins that were sent around on May 21/22.
http://blockexplorer.com/address/1EeT96B4ri5N496ze8rJnkCNdmtgeGYpgf
Bazil
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June 01, 2011, 01:54:07 AM
 #29

Yeah it's probably mtgox moving coins.  I think it would be a bad idea to store so many coins in one spot.  What if the computer crashed?  Not a pretty sight.  400k is a lot when there are only 6.xx million in the whole world!

17Bo9a6YpXN2SbwY8mXLCD43Wup9ZE4rwm
barbarousrelic
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June 01, 2011, 01:05:32 PM
 #30

Could also be BTC held on behalf of others.

MtGox / MyBitcoin / etc


I think this is very likely.

Do not waste your time debating whether Bitcoin can work. It does work.

"Early adopters will profit" is not a sufficient condition to classify something as a pyramid or Ponzi scheme. If it was, Apple and Microsoft stock are Ponzi schemes.

There is no such thing as "market manipulation." There is only buying and selling.
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