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Author Topic: large sums of money being moved around?????  (Read 1377 times)
segabtc (OP)
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September 20, 2012, 11:43:29 PM
 #1

Someone is moving some serious coins around, I am not that good at tracking this stuff yet, so If some of the more ENLIGHTENED people of this community can help see where these transactions are going?   


Home Most recently mined blocks in the bitcoin block chain
Height    Age      Transactions    Total Sent    Relayed By    Size (kB)
199746    < 1 minute    438    659,909.67 BTC    198.154.98.196    190.19
199745    32 minutes    32    2,402.55 BTC    Eligius    9.39
199744    42 minutes    8    31,540.03 BTC    78.47.187.252    3.44
199743    49 minutes    94    3,117.28 BTC    Deepbit    35.27
199742    51 minutes    481    1,037,849.75 BTC    Deepbit    189.05
199741    1 hour 12 minutes    10    43,958.82 BTC    5.167.8.56    3.44
199740    1 hour 28 minutes    184    443,537.68 BTC    199.48.69.229    78.49
199739    1 hour 26 minutes    8    40,896.83 BTC    208.111.165.68    3.32
199738    1 hour 40 minutes    347    618,249.66 BTC    BTC Guild    135.36
199737    1 hour 57 minutes    277    680,430.31 BTC    BitMinter    89.22

segabtc (OP)
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September 20, 2012, 11:44:05 PM
 #2

Someone is moving some serious coins around, I am not that good at tracking this stuff yet, so If some of the more ENLIGHTENED people of this community can help see where these transactions are going?  


Home Most recently mined blocks in the bitcoin block chain
Height    Age      Transactions    Total Sent    Relayed By    Size (kB)
199746    < 1 minute    438    659,909.67 BTC    198.154.98.196    190.19
199745    32 minutes    32    2,402.55 BTC    Eligius    9.39
199744    42 minutes    8    31,540.03 BTC    78.47.187.252    3.44
199743    49 minutes    94    3,117.28 BTC    Deepbit    35.27
199742    51 minutes    481    1,037,849.75 BTC    Deepbit    189.05
199741    1 hour 12 minutes    10    43,958.82 BTC    5.167.8.56    3.44
199740    1 hour 28 minutes    184    443,537.68 BTC    199.48.69.229    78.49
199739    1 hour 26 minutes    8    40,896.83 BTC    208.111.165.68    3.32
199738    1 hour 40 minutes    347    618,249.66 BTC    BTC Guild    135.36
199737    1 hour 57 minutes    277    680,430.31 BTC    BitMinter    89.22




199742 is a million coin transaction    .....



EDIT 3+ million coins in last 2 hours?Huh  am I just being paranoid? if so tell me to STFU. heheheh
thebaron
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September 20, 2012, 11:47:13 PM
 #3

Silk Road coin tumbling most likely.
segabtc (OP)
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September 20, 2012, 11:51:30 PM
 #4

The million coin I can see as SR tumbling, but the 600k transactions that have multiple 30k tranactions inside each block. could SR be doing 2 million coins a day or every couple days??? wow better watch their backs, that will cause some people to start looking at them more closely.
Stephen Gornick
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September 21, 2012, 02:53:54 AM
 #5

Someone is moving some serious coins around, I

If I buy a piece of penny candy and pay with a $100 bill, then repeat doing so every minute for ten hours straight, the cash transaction log will show just under $120K of cash changing hands even though only $6.00 worth of candy was actually sold  (assuming there is still such a thing as a piece of candy that costs just a penny.)


Mixing has this same property.  To mix away a few BTC there might be coins that are hundreds of thousands of BTC in size, being chipped away a few BTC at a time.

But there are all types of areas that bitcoins can start to displace other types of large financial transactions.

Some businesses have no access to credit and are entirely dependent on customer cash flows. Because bitcoin transactions are lightning fast compared to traditional bank wire transfers, those businesses will start wanting to receive payment in bitcoin.  If work routinely stops because the needed money is tied up working its way through the banking system (which happens all to often, especially for flows that cross borders), Bitcoin helps to cut down dramatically on that idle time.

Another scenario might be for auctions, such as those for property.  Cash is risky to carry and inconvenient so the method that works is for there to be a requirement that bidders carry a cashier's check for some minimum amount (e.g., $5K USD for home sales).  That requirement increases the chances that the ultimate winning bid will truly carry through with full payment.    But obtaining cashier's checks is inconvenient and expensive as well -- especially for bidders who aren't regulars or don't necessarily plan to bid aggressively.   Bitcoin can serve as a convenient method to secure the winning bid while the winning bidder then goes to obtain a cashier's check for the full payment amount.

There will be a lot of scenarios where lots of bitcoins change hands and there is little visibility into why.

Unichange.me

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Stephen Gornick
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October 07, 2012, 11:26:23 PM
 #6

Well, ... that ended abruptly.

So that indicates it was likely a single party with a large balance, rather than a large level of growth occurring with various mixing services or a high level of growth in transactions where mixing occurs:



 - http://blockchain.info/charts/output-volume

Unichange.me

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