1 million [BTC] moved in one block

[Amph]

Id be scared to do anything with that many bitcoins just in case i fucked up, Even after double and triple checking it was going to the right address im sure i would still manage to send it to oblivion somehow. Either that or end up paying a 1 million bitcoin fee and sending 1 bitcoin.

lol i feel your pain, im exactlly the same, i must check each transaction about 5 times and then shit myself 10mins waiting on it to turn up

This is the number one barrier that prevents bitcoin adoption. We need better full client side tools to reassure the sender. We need to find ways to somehow remove some of those doubts and fears when using the client.

i was thinking about integrating the average time that you see on the blockchain(which is false some times, so it need to be programmed better) and do it for the client

at least average joe can have an estimate and feel more secure

I'm not sure what you're talking about. Seeing your unconfirmed transaction in the client should be almost immediate. Multiple confirmations will always take longer because it's impossible to determine exactly when the next or subsequent, say six, blocks will be found (each block adding another confirmation). As for the "average time", by design that's always going to be 10 minutes. When it's not difficulty is adjusted to bring it back in line. Any line showing the average block time, depending on how far back the code looked for data points, would always say 10 minutes.

talking about the average time for the first confirmation, not the unconfirmation

if there was something that tell you the estimate for the first confirmation, it would be better for newbie, they would have an indicator for how much they should wait for the first conf at least

maybe a countdown on the icon transaction(the clock)

Confirmation time? You would either need to use a full node or trust a third party when using SPV client. They're not very accurate since most don't see the entire network of transactions but it isn't an issue if you pay too low of a fee. The main concern here is that the client glitches and script a transaction that has wrong value or addresses. This would be a major problem then. The probability of typing an address wrongly and still get it accepted is rather low as long as you check the first and last few letters of destination address.

Anyway, transactions should appear almost instantly. It would be a huge problem on your side if you have to wait for 5 minutes.

yeah i know it's 10 min, but that's not the point, there must be a clock that tell you the estimate when you over the mouse above the icon of the transaction, on core for example

something like "next confirmation is expected in x amount of time etc...", something simple

[1714750913]

1714750913

[1714750913]

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[QuestionAuthority]

Ah, I see. You want to have the amount of time until the next block is found listed somewhere in the client. Unfortunately, that's not possible. Finding a block is taking a nonce of you're choice and using it to hash a block to an acceptable number below the set difficulty level. A "hash" is just a random number cryptographically calculated to find a matching number. Miners are simply "hashing" a bunch of them until they get lucky. Just like there are many acceptable hashes, there are many different nonces which will work for the same block. But a miner only has to find one of them. Whichever one they find first will work to become the next block. When the next block is found it's already listed in the client so I'm afraid that's as good as your going to get. I do agree that would be a cool feature if it could be done.

[MingLee]

That's an impressive amount of Bitcoin being moved, have there been any major buyers, sellers or dumps recently? That's a massive amount to move in a single block.

[zeaderza]

1 million bitcoin in a block is a very big amount.
I think only business men can have this big sum.

[takingthis4]

thats the clear sign that bitcoin is getting more and more popular right now, i think that we will have to do something about that block size as soon as possible in order to avoid other problems

[1Referee]

This is even more impressive than the 1 million block. This block is 4.3 million in size. I have never seen such a massive block.

http://blockr.io/block/info/394868

[BellaBitBit]

Holy!!! That's one heck of an amount being moved for such a low fee, just wondering how much money would be wasted in fees if this was done through a service like Western Union. But yeah would be exciting to know who and what was it transferred for, but yeah since it's Bitcoin it isn't as easy to know xD

Very cool to see. I have not seen anything of this magnitude before, but I am newish.  The transaction fee is nothing for an amount that size.  All of the hoops  and fees from a regular bank would be tiresome.  This is much more fun!

[ranochigo]

thats the clear sign that bitcoin is getting more and more popular right now, i think that we will have to do something about that block size as soon as possible in order to avoid other problems

Transaction volume is not an accurate representation Bitcoin's popularity at all. The main reason for the block to have so much BTC transacted is due to several higher valued TX. A higher transaction volume could just be because of an exchange or a service moving coins around. It can be manipulated easily. Block size should not concern transaction volume significantly either, a higher amount of BTC transacted would not make the transaction larger.

[countryfree]

There are some big fish out there.

In a few minutes, I found 2 10,000 BTC transactions made exactly at the same time. Obviously, it was the same person.

https://blockchain.info/address/18SwPkgUHFo8QLh5fMcchKvmUVrFNxXF6B
https://blockchain.info/address/1HSV4NUkCtJ4wdK79peu2wGjAxEe3N6Yu3

You need to have a lot of trust in the network. I can't imagine myself doing such a large single transaction. I would be too afraid something would go wrong and I would loose a fortune.

[alberthendriks]

According to some blockchain experts it's all a hoax. All these transactions are sending money to themselves, and in total "only" btc 10,000 is involved. All this started from https://blockchain.info/address/1HSV4NUkCtJ4wdK79peu2wGjAxEe3N6Yu3

oh, that's the same as the previous post.

[Anegg]

That is the highest number of Bitcoin moved in a block, that I have ever seen.

[gkv9]

That is the highest number of Bitcoin moved in a block, that I have ever seen.

True, a tremendous amount of BTC transacted in such volume that just shaken everyone out here...
It seems that a big wave of transactions has been settled down into one drop...

[BellaBitBit]

That is the highest number of Bitcoin moved in a block, that I have ever seen.

True, a tremendous amount of BTC transacted in such volume that just shaken everyone out here...
It seems that a big wave of transactions has been settled down into one drop...

Are you saying that this transaction made the price dip to where it is today?

[partysaurus]

Id be scared to do anything with that many bitcoins just in case i fucked up, Even after double and triple checking it was going to the right address im sure i would still manage to send it to oblivion somehow. Either that or end up paying a 1 million bitcoin fee and sending 1 bitcoin.

was thinking the same would not have the guts to send that much money in one transaction , would be so afraid of screwing it up lol.

[bitlost]

uow man that's awesome! Imagine if this amount end up at your account by mistake? I think I would just get instantly crazy.

[Ruzka]

There are some big fish out there.

In a few minutes, I found 2 10,000 BTC transactions made exactly at the same time. Obviously, it was the same person.

https://blockchain.info/address/18SwPkgUHFo8QLh5fMcchKvmUVrFNxXF6B
https://blockchain.info/address/1HSV4NUkCtJ4wdK79peu2wGjAxEe3N6Yu3

You need to have a lot of trust in the network. I can't imagine myself doing such a large single transaction. I would be too afraid something would go wrong and I would loose a fortune.

Big fish and massive whales and so much plankton is out there. They are nice size transactions for sure but if you don't have trust in the network you probably would not have that many coin to begin with. No need to be afraid of any size transaction unless your doing it drunk then good luck. Check address to send to, send 1btc, once received send the larger amount by copy and pasting the first add but checking the first 3 parts of the address and the last 3. That is all I would do as well as give a very very nice miner fee.
1million in a block and only a bitcoin in fee's is crazy and just goes to show the power of bitcoin.

[el-magnifico]

Probably allot of big transactions were exchanged in the same period between the two blocks, it's fun you can actually see every single transaction live, really transparent system.

[Pk880058]

There are some big fish out there.

In a few minutes, I found 2 10,000 BTC transactions made exactly at the same time. Obviously, it was the same person.

https://blockchain.info/address/18SwPkgUHFo8QLh5fMcchKvmUVrFNxXF6B
https://blockchain.info/address/1HSV4NUkCtJ4wdK79peu2wGjAxEe3N6Yu3

You need to have a lot of trust in the network. I can't imagine myself doing such a large single transaction. I would be too afraid something would go wrong and I would loose a fortune.

This are all done by the big players who wants to move the market according to their position and i think that they have shorted in the market that market will go down, that is why they have done this of selling in one account and same time buying in other account. like this they create panic in market and make profit.

But due to transparency in blockchain we can know the details of the transaction done in market online.

[elizabethqueen]

i saw this on reddit, thought i share it here to here your opinion on what is happening.

here is the link:
https://blockchain.info/block/00000000000000000603cba76274b479a7507ef9585518b06e192f1a6255b5b8

apparently this is not the only one either:
https://blockchain.info/block-height/393652    > 1,058,430.66780311 BTC

EDIT:
another one:

This is even more impressive than the 1 million block. This block is 4.3 million in size. I have never seen such a massive block.

http://blockr.io/block/info/394868

https://blockchain.info/block-height/394868   > 4,376,041.96283455 BTC

i am sure satoshi created bitcoin for this purpose,sent big amount of money with easy way,anonymous,fast and secure. and i never imagie this is happen in my century,proud to be part of this revolution