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Author Topic: [WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address !  (Read 8068 times)
k
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June 12, 2011, 11:52:07 PM
 #21

why start a new thread when this was already being discussed here http://forum.bitcoin.org/index.php?topic=15984.msg209464#msg209464
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rezin777
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June 12, 2011, 11:59:41 PM
 #22

Seriously, it's thoughts like this that are destroying bitcoin. If people keep this "huh something I don't understand is going on IT MUST BE THE GOVERNMENT DOING IT TO DESTROY ME" the only thing people will think when they think bitcoin is insane, tinfoil hat wearing loonies and it'll never be taken seriously, and I don't want that to happen, So please stop doing it.

Destroying Bitcoin?

People will post what they post. The internet makes it so easy to be the unshaven, unwashed, whiskey breathing, flea ridden guy standing on the corner with a cardboard box sign that says "The end is nigh, commit your first born unto me". No serious investor makes a move because of something some random guy said on an internet forum. And if they do, thank Stimpy that we can profit from their lack of insight and shortsightedness.
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June 13, 2011, 12:28:32 AM
 #23

There is nothing odd at all about this. He's just transferring most of MtGox's coins off-site. That means that you won't be able to access these funds even if you had root access to his server. This is a GOOD thing. In fact, I'd be worried if we DIDN'T see this.

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June 13, 2011, 12:44:00 AM
 #24

what happens when people buy BTC for $ on MtGox, won't it need to come from this address http://blockexplorer.com/a/8d7f1vDvvw? it's still all there. do people leave that much BTC with MtGox that ~432k BTC can be put aside and still meet the demand of people buying BTC?
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June 13, 2011, 01:02:29 AM
 #25

MtGox is going short

Help this puppy survive: http://larrycorreia.files.wordpress.com/2011/06/mr-snuggles.jpg

Donate to 1Gvzk3L3oLjeK5m6y4B82kFvLEZbqQnUWs
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June 13, 2011, 01:08:23 AM
 #26

Seriously, it's thoughts like this that are destroying bitcoin. If people keep this "huh something I don't understand is going on IT MUST BE THE GOVERNMENT DOING IT TO DESTROY ME" the only thing people will think when they think bitcoin is insane, tinfoil hat wearing loonies and it'll never be taken seriously, and I don't want that to happen, So please stop doing it.

Destroying Bitcoin?

People will post what they post. The internet makes it so easy to be the unshaven, unwashed, whiskey breathing, flea ridden guy standing on the corner with a cardboard box sign that says "The end is nigh, commit your first born unto me". No serious investor makes a move because of something some random guy said on an internet forum. And if they do, thank Stimpy that we can profit from their lack of insight and shortsightedness.

If no one invests in making their marketplace or site bitcoin capable because all they see is insane paranoid scheziophrenics who believe the government wiretapped their bathroom to steal their bitcoins then how is it ever going to get popular support? I want bitcoin to succeed, it's an excellent idea but currently the community seems to be really trying to destroy it (announcing they're going to use it for tax evasion, purchasing drugs, government conspiracies and such like).
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June 13, 2011, 03:43:58 AM
 #27

If no one invests in making their marketplace or site bitcoin capable because all they see is insane paranoid scheziophrenics who believe the government wiretapped their bathroom to steal their bitcoins then how is it ever going to get popular support? I want bitcoin to succeed, it's an excellent idea but currently the community seems to be really trying to destroy it (announcing they're going to use it for tax evasion, purchasing drugs, government conspiracies and such like).

We're working on a forum reboot, switching the current mess for a more business-professional one at weusecoins.

As the "official" bitcoin forum, this is just an embarrassment.


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imperi
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June 13, 2011, 03:58:09 AM
 #28

If no one invests in making their marketplace or site bitcoin capable because all they see is insane paranoid scheziophrenics who believe the government wiretapped their bathroom to steal their bitcoins then how is it ever going to get popular support? I want bitcoin to succeed, it's an excellent idea but currently the community seems to be really trying to destroy it (announcing they're going to use it for tax evasion, purchasing drugs, government conspiracies and such like).

We're working on a forum reboot, switching the current mess for a more business-professional one at weusecoins.

As the "official" bitcoin forum, this is just an embarrassment.



Thank you!! I'm really glad you're doing this. Keep up the good work!

ctoon6
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June 13, 2011, 04:30:40 AM
 #29

I think it's a bad idea to have all your Ƀ on 1 address, what if you won the lottery and randomly pulled that address when you made a new one? If I were them I would have no more than Ƀ1k per address.

JohnDoe
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June 13, 2011, 04:36:03 AM
 #30

As the "official" bitcoin forum, this is just an embarrassment.

Subjective. Your goatee could be thought of as an embarrassment as well.
FreeMoney
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June 13, 2011, 04:46:51 AM
 #31

I think it's a bad idea to have all your Ƀ on 1 address, what if you won the lottery and randomly pulled that address when you made a new one? If I were them I would have no more than Ƀ1k per address.

Winning the lottery: 1 in 10^7
Taking the money from that address: 1 in 10^140

Hmm, only 20 times harder.

Math is so hard!

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
ctoon6
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June 13, 2011, 04:49:19 AM
 #32

I think it's a bad idea to have all your Ƀ on 1 address, what if you won the lottery and randomly pulled that address when you made a new one? If I were them I would have no more than Ƀ1k per address.

Winning the lottery: 1 in 10^7
Taking the money from that address: 1 in 10^140

Hmm, only 20 times harder.

Math is so hard!

it is still possible and its never a bad idea to be safe than sorry.

Quantumplation
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June 13, 2011, 04:49:42 AM
 #33

I think it's a bad idea to have all your Ƀ on 1 address, what if you won the lottery and randomly pulled that address when you made a new one? If I were them I would have no more than Ƀ1k per address.

Winning the lottery: 1 in 10^7
Taking the money from that address: 1 in 10^140

Hmm, only 20 times harder.

Math is so hard!

Apparently math is hard, because it's actually 10^133 times harder.

Against my better judgement... 1ADjszXMSRuAUjyy3ShFRy54SyRVrNDgDc
kr105
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June 13, 2011, 05:29:12 AM
 #34

I think it's a bad idea to have all your Ƀ on 1 address, what if you won the lottery and randomly pulled that address when you made a new one? If I were them I would have no more than Ƀ1k per address.

Winning the lottery: 1 in 10^7
Taking the money from that address: 1 in 10^140

Hmm, only 20 times harder.

Math is so hard!

Apparently math is hard, because it's actually 10^133 times harder.
Turn on your sarcasm meter Grin
Kman54
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June 13, 2011, 05:47:03 AM
 #35

Quote
As the "official" bitcoin forum, this is just an embarrassment.

This is true, this forum is doing nothing to help the market and its been trolled harder then I've seen any forum trolled.
cypherdoc
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June 13, 2011, 01:17:53 PM
 #36

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As the "official" bitcoin forum, this is just an embarrassment.

This is true, this forum is doing nothing to help the market and its been trolled harder then I've seen any forum trolled.

what do u expect?  there's money involved.
davout
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June 13, 2011, 01:51:46 PM
 #37

There is nothing odd at all about this. He's just transferring most of MtGox's coins off-site. That means that you won't be able to access these funds even if you had root access to his server. This is a GOOD thing. In fact, I'd be worried if we DIDN'T see this.
MagicalTux is a smart guy, if he really wanted to consolidate all the coins he would probably have dispatched them to multiple addresses.
Because even if highly unlikely address collisions could occur, but a better reason would be to not leak so much information, because with that transfer I can see how much money was sent in, at what time it was sent in etc.

Again, I'm just curious

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