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Author Topic: Why would anyone hold significant amounts in Instawallet anyway?  (Read 484 times)
Fking
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April 08, 2013, 11:15:48 AM
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Ok I was honestly amazed that there are people with significant amounts there, especially amounts over 50btc, which is like $9000 by todays rate.
Why would anyone do that?

It's clearly a short term wallet for small amounts. For anything serious why you don't just install a client on your PC? Or use one of those hybrid online wallets.
They even clearly state the above on every page....
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April 08, 2013, 01:04:02 PM
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For most of the accounts- it wasn't a significant amount at the time they deposited. Indeed many wallets were probably abandoned.

more or less retired.
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April 12, 2013, 03:41:16 PM
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there are people with over 50btc there man...
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April 12, 2013, 03:43:46 PM
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For most of the accounts- it wasn't a significant amount at the time they deposited. Indeed many wallets were probably abandoned.

Exactly. 50 BTC at Christmas time was $500. Might be convenient for some to have it easily spendable from a web wallet. Now, it's $5,000 or so, and a different story.

Think about the people that used it back when bitcoin was worth a couple of bucks and abandoned 10 BTC. There may be plenty of coins available for those that want to claim them plus plenty of profit for shutting her down.

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