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Author Topic: >432109 BTC sent to 1 address, block 130281  (Read 11143 times)
davout
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June 12, 2011, 09:52:10 PM
 #21

Possibly there was a concern of a leak of private keys, so everything needed to be moved.
Maybe...

Perhaps its as simple as a hosting environment change to add capacity and the desire was to make any private keys on the old server worthless.
This sounds unlikely, the wallet would just have been copied over, consolidating all the funds makes them very obvious.

In the future, a move like this may be done in multiple transactions instead of a single move.
Yea maybe, that's why it sort of looks like some sort of an emergency move...

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klaus
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June 12, 2011, 09:52:43 PM
 #22

Imagine if they made a typo in the address and everything got lost. It would be very disruptive.

thats not possible

bitmessage:BM-2D9c1oAbkVo96zDhTZ2jV6RXzQ9VG3A6f1​
threema:HXUAMT96
davout
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June 12, 2011, 09:55:51 PM
 #23

Imagine if they made a typo in the address and everything got lost. It would be very disruptive.
Can't happen, addresses have built-in checksums.

Macho
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June 12, 2011, 09:59:35 PM
 #24

Holy sh--

I really wonder why Mt.Gox is the only major exchange with returns like this ... if they decide to sell that off we better brace ourselves for an impact, insider info folks will have serious advantage there if they tell anyone Smiley That's some serious Bitcoin stash.
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June 12, 2011, 10:08:15 PM
 #25

Possibly there was a concern of a leak of private keys, so everything needed to be moved.

(Not sure what timezones the different times posted are in)

If it fits with mtgox going offline for a while today that sounds plausible. If they suspect their infrastructure to be breached it would indeed be an obvious action to take.

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June 12, 2011, 10:12:00 PM
 #26

the transfer happened before the downtime at MtGox

 transfer at 2011-06-12 12:57:20 UTC

MtGox at around 16:30 UTC http://bitcoincharts.com/charts/mtgoxUSD#rg1zvztgSzm1g10zm2g25
herbertfilby
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June 12, 2011, 10:15:30 PM
 #27

That's what I was thinking. I hope very much not.
davout
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June 12, 2011, 10:27:06 PM
 #28

Holy sh--

I really wonder why Mt.Gox is the only major exchange with returns like this ... if they decide to sell that off we better brace ourselves for an impact, insider info folks will have serious advantage there if they tell anyone Smiley That's some serious Bitcoin stash.
Ugh. for the n-th time, this is mtgox's users money, not its own

k
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June 12, 2011, 10:28:20 PM
 #29

think this transaction of 280000 in block 127087 is the largest previous single transfer

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

also seems connected to the 17000 that led to the big price drop yesterday and was speculated that it was an early adopter cashing out. does that mean that same person still has another 280000 BTC in MtGox?
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June 12, 2011, 11:53:56 PM
 #30

Holy sh--

I really wonder why Mt.Gox is the only major exchange with returns like this ... if they decide to sell that off we better brace ourselves for an impact, insider info folks will have serious advantage there if they tell anyone Smiley That's some serious Bitcoin stash.
Ugh. for the n-th time, this is mtgox's users money, not its own

what doesn't make sense to me is that your deposit to mtgox is mixed with that 17000 BTC dump by a miner yesterday.  according to you, those 17000 BTC would have had to be scooped up by mtgox in that selloff and then transferred to the single address of 432K BTC's.  that doesn't make sense at all.
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June 13, 2011, 12:01:19 AM
 #31

Holy sh--

I really wonder why Mt.Gox is the only major exchange with returns like this ... if they decide to sell that off we better brace ourselves for an impact, insider info folks will have serious advantage there if they tell anyone Smiley That's some serious Bitcoin stash.
Ugh. for the n-th time, this is mtgox's users money, not its own

what doesn't make sense to me is that your deposit to mtgox is mixed with that 17000 BTC dump by a miner yesterday.  according to you, those 17000 BTC would have had to be scooped up by mtgox in that selloff and then transferred to the single address of 432K BTC's.  that doesn't make sense at all.

hi cypherdoc I don't think davout's transfer was mixed in with the 17000 BTC dump yesterday (or at least he is not claiming that), but his transfer is included with in the transfer to http://blockexplorer.com/a/8d7f1vDvvw (block 130281).

you maybe getting mixed up from another link I posted above with a link to the 17000 BTC transfer
cypherdoc
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June 13, 2011, 01:02:19 AM
 #32

Holy sh--

I really wonder why Mt.Gox is the only major exchange with returns like this ... if they decide to sell that off we better brace ourselves for an impact, insider info folks will have serious advantage there if they tell anyone Smiley That's some serious Bitcoin stash.
Ugh. for the n-th time, this is mtgox's users money, not its own

what doesn't make sense to me is that your deposit to mtgox is mixed with that 17000 BTC dump by a miner yesterday.  according to you, those 17000 BTC would have had to be scooped up by mtgox in that selloff and then transferred to the single address of 432K BTC's.  that doesn't make sense at all.

hi cypherdoc I don't think davout's transfer was mixed in with the 17000 BTC dump yesterday (or at least he is not claiming that), but his transfer is included with in the transfer to http://blockexplorer.com/a/8d7f1vDvvw (block 130281).

you maybe getting mixed up from another link I posted above with a link to the 17000 BTC transfer

http://blockexplorer.com/tx/a09ac44c71a314316431f53dcf51d5c0ffdf85b738a6b07f622012ee41b38c16#o1

look at this tx.  all the inputs come from one owner which according to davout is mtgox.  apparently one of the deposits davout made to mtgox is included in this list of tx's in the inputs.  also included in this list is the 17000 BTC that were dumped by a miner yesterday at 12:57 pm.  for this 17000 BTC to be included in this list they would have had to be bought by mtgox yesterday which makes no sense to me at all since they are just exchangers.
k
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June 13, 2011, 01:10:55 AM
 #33



http://blockexplorer.com/tx/a09ac44c71a314316431f53dcf51d5c0ffdf85b738a6b07f622012ee41b38c16#o1

look at this tx.  all the inputs come from one owner which according to davout is mtgox.  apparently one of the deposits davout made to mtgox is included in this list of tx's in the inputs.  also included in this list is the 17000 BTC that were dumped by a miner yesterday at 12:57 pm.  for this 17000 BTC to be included in this list they would have had to be bought by mtgox yesterday which makes no sense to me at all since they are just exchangers.

I get what you're saying now. I can't speak for davout but I don't think he is suggesting that this is MtGox's personal money but money in MtGox's wallet belonging to other people and that's just being consolidated into one address. But I'm thinking the same as you about how this much BTC could be moved to one address and not used to fulfil the orders of people buying BTC on MtGox. (I mentioned this on the other thread with the similar topic) It would mean there must be a huge surplus of BTC on MTGox to be able meet the orders of BTC buyers. Do people leave that much BTC with MTGox?
gongcheng
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June 13, 2011, 02:03:38 AM
 #34

This is what I thought:

Do people leave that much BTC with MTGox?

Jaime Frontero
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June 13, 2011, 03:27:51 AM
 #35

This is what I thought:

Do people leave that much BTC with MTGox?

why wouldn't they?  it's the biggest exchange - you can't play financier if Mtgox doesn't have your coin.  do you think people decide to buy or sell, and then send Bitcoin?  i don't think so:  way too slow.  they get their ducks in a row...
wareen
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June 13, 2011, 06:28:57 AM
 #36

This is what I thought:

Do people leave that much BTC with MTGox?
Also consider the 1000USD equivalent per day withdrawal limit - anybody buying more than ~50 BTC and not having finished the identification process to raise the limit is forced to leave BTC at Mt Gox.
davout
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June 13, 2011, 06:58:32 AM
 #37

look at this tx.  all the inputs come from one owner which according to davout is mtgox.  apparently one of the deposits davout made to mtgox is included in this list of tx's in the inputs.  also included in this list is the 17000 BTC that were dumped by a miner yesterday at 12:57 pm.  for this 17000 BTC to be included in this list they would have had to be bought by mtgox yesterday which makes no sense to me at all since they are just exchangers.
You make no sense. They just have been deposited at mtgox, not bought by it.

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June 13, 2011, 01:16:33 PM
 #38

look at this tx.  all the inputs come from one owner which according to davout is mtgox.  apparently one of the deposits davout made to mtgox is included in this list of tx's in the inputs.  also included in this list is the 17000 BTC that were dumped by a miner yesterday at 12:57 pm.  for this 17000 BTC to be included in this list they would have had to be bought by mtgox yesterday which makes no sense to me at all since they are just exchangers.
You make no sense. They just have been deposited at mtgox, not bought by it.

you're right.  i don't.

what happened is MagTux moved this amt of BTC offline to a secure destination for safekeeping.  he does this when too many coins accumulate onsite.

he no longer keeps coins assigned to users accts.  they all get mixed in a global balance.  this is why ppl like u may see your address routing to this offline site. 
davout
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June 13, 2011, 01:53:52 PM
 #39

what happened is MagTux moved this amt of BTC offline to a secure destination for safekeeping.  he does this when too many coins accumulate onsite.
The question I was asking myself is then why in one big obvious transaction that leaks a fair bit of information ?

he no longer keeps coins assigned to users accts.  they all get mixed in a global balance.  this is why ppl like u may see your address routing to this offline site. 
I don't really know what you mean by "assigned to users accts." but I don't think it was ever the case, even the bitcoin client itself does not maintain links between addresses and accounts.

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June 13, 2011, 04:44:07 PM
 #40

For a privacy oriented crytocurrency it sure is really fucking easy to riffle through other peoples bank records. This needs something done about it, I don't leave my bank statements lying around on the sidewalk for any degenerate gutter trash to read, so why should it be the same for bitcoin?
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