KNC moved all of their 9000+ BTC Today

[randy8777]

why is it so special that a certain party is moving their coins. they most likely did it for security purposes. nothing special to be honest.

[1713905388]

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[1713905388]

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[lyth0s]

why is it so special that a certain party is moving their coins. they most likely did it for security purposes. nothing special to be honest.

1) KNC "screwed' a lot of people that had paid them for miners.
2) Large net sells on bitstamp may take place
3) No evidence of any bitcoins behind XBT Provider

Those are the concerns and reasons why I mention all of KNC's coins moving

[kwukduck]

Well KNC is a significant player in this economy and they have a strong network to inform them of any upcoming events. This move would only confirm our worries that a massive event is going to happen soon that will move the price lower than anyone will expect without a realistic outlook of recovery.

[CoinCidental]

Well KNC is a significant player in this economy and they have a strong network to inform them of any upcoming events. This move would only confirm our worries that a massive event is going to happen soon that will move the price lower than anyone will expect without a realistic outlook of recovery.

9000 bts will not cause too much of a price drop, let them dump them cheap and they will be hoovered up

[Cconvert2G36]

Well, it could be the reason why bitcoin price went down to $22x
Maybe they were selling their bitcoin because people already know that they are scam & they might run away

WTF are you talking about? They already got the money from the customers, now they mine for themselves. Run away where? From what?

They may be lining them up to be rolled into the bitcoin tracker etn, to a new cold address, maybe sold on exchanges... we won't know anything more until they move again.

[Searing]

Well as posted on other threads....KNC could be in some trouble ..seems their 16nm chips on their IPO farm could be delayed till 2016

...nice to see the wheel has turned and they need to sit on their hands on a "pre-order" lol

Now if the IPO investors were smart enough to say something in the contract about IPO farm by such and such a date....KNC could get some
big money 'yanked' back

serves the buggers right ...see how they like it on the other side of the pre-order and late delay side of the fence


....supposedly tape out on their 16nm chips was on feb 3rd 2015

Phoenix1969 pointed this link out to me:


http://wccftech.com/tsmcs-16nm-finfet-faces-delays-qualcomm-jumps-ship-samsung/


their press release back on tape out from main site www.kncminer.com

http://venturebeat.com/2015/02/03/accel-partners-invests-15m-in-kncminers-to-build-a-16-nm-processor/


wikipedia on TWSC

http://en.wikipedia.org/wiki/TSMC

They could be very very very screwed in getting their IPO 16nm Farm out this year....serves them right IMHO......see how they like pre-order delays LOL


Guess they should have put up that Titan scrypt miner farm instead don't ya know.....

anyway made my day!

[Dexter770221]

That's what good and useful currency should do, moves from one hands to another. Only that way makes good things like progress and whealth...

[Amph]

why is it so special that a certain party is moving their coins. they most likely did it for security purposes. nothing special to be honest.

well they, maybe, have done it because they want to dump a portion in the event that the whole fork issue will kill bitcoin or damaging it too much, in the price

it's concerning

[gizmoh]

Coins still in the same address, so its not a bistamp address.

[sandy47bt]

They didn't sell their bitcoin, i think it's just address for cold storage
Maybe, this is what people talking about "big crash"

[uhoh]

Coins still in the same address, so its not a bistamp address.

This, Stamp sweep straight to cold storage.

[Biontic]

Well as posted on other threads....KNC could be in some trouble ..seems their 16nm chips on their IPO farm could be delayed till 2016
**snip**

Seems that despite the TSMC stuff - they have managed to get there anyhows!

https://twitter.com/kncminer/status/605651201141690368

[Rampion]

Considering all the FUD about Bitcoin-XT and the block size hard fork this is not a bad time to hedge a bit and sell some BTC.

[Biontic]

First 750 btc tranche were just moved to Bitstamp

https://blockchain.info/tx/22e42c59d9c46b4e1524a98e5f61a09be8e015b0d5e52659797dc52ed2aca0fe

[wpalczynski]

Bitcoin days destroyed chart doesnt point to big players having inside knowledge of any upcoming bad events.

https://blockchain.info/charts/bitcoin-days-destroyed?timespan=30days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

[mrhelpful]

If all those coins were to sell off, then we see another price window drop.

Thats a ton of coins being available. I`m just going based on the blockchains transfer speculation here, but why move it, it doesnt make sense to me.

[oblivi]

Considering all the FUD about Bitcoin-XT and the block size hard fork this is not a bad time to hedge a bit and sell some BTC.

Maybe a bit, but 9000? thats insane. Those guys must be huge whales to be treating that kind of money like chump change.

[Shiver]

Is it a *move* or a *sell*?  Makes a big difference.  It may affect the market if that is misunderstood (and could be an opportunity or a problem depending on what is actually happening).

Still, 9000+ coins is not that significant in market size terms, just a few days of depression before a rebound to compensate an over sell.

[hellscabane]

Considering all the FUD about Bitcoin-XT and the block size hard fork this is not a bad time to hedge a bit and sell some BTC.

Maybe a bit, but 9000? thats insane. Those guys must be huge whales to be treating that kind of money like chump change.

Well, the fact that their business model requires foundry fabs, it would be expected that they'd have to have a decent amount.

At a minimum getting a working relationship with a company like TSMC to device-in/out and tape in/out requires a minimum investment of $5-10M. Assuming industry-specific working EBITDA would entail financials of at least $75M.

So really 9000 BTC isn't really all that "large" (but it still isn't something to sneeze at).

[An old pal]

^^ Hey Jimmy, Is that you, the wanker-troll?