Bitcoin Monitor - High-Altitude 'Snakes'

[TraderTimm]

Update: Seeing the same 9k 'snake trail' pattern again.

Timestamp: 08:14 UTC

[1714143403]

1714143403

[BombaUcigasa]

it looks like there's a rough correlation (green lines) with the production of blocks.

Fees reduction algorithm?

[Serge]

other than dark exchanges
I would guess a lot of people moving and securing their coins

last night over 4 million coins were moved in 24hr timeframe

today

Bitcoins sent
last 24h
7,668,320.81 BTC



Total BTC   6,562,350 BTC

[lemonginger]

seems to be too regular to be anything happening manually.

[BombaUcigasa]

Bitcoins sent
last 24h 7,668,320.81 BTC

Total BTC   6,562,350 BTC

Yo dawg, I heard you like no taxes in your blockchain...

[Clipse]

You should have used your brain before trying to reply smirky.

Total send doesnt equate to total available.

I can send 1BTC a million times(if there were no delay of course) in a day and it would show 1million BTC transfered.

[rebuilder]

You should have used your brain before trying to reply smirky.

Total send doesnt equate to total available.

I can send 1BTC a million times(if there were no delay of course) in a day and it would show 1million BTC transfered.

I think they were rather implying someone's laundering money. I'm not so sure, it seems to me you'd rather avoid regular patterns for that.

[Serge]

You should have used your brain before trying to reply smirky.

Total send doesnt equate to total available.

I can send 1BTC a million times(if there were no delay of course) in a day and it would show 1million BTC transfered.

I just pointed out a fact that huge amounts of coins where moved in last 24hrs. and the reason i think we see this movement because everyone trying to safely secure their bitcoins.

 where did you get an idea that i was clueless how it could be that we have 6 mil and moved 7 mil ?!  follow your own advise for starters

[NO_SLAVE]

So the entire float+ of BTC has been moved in the past 24 hours. 
Could this be MT GOX moving its assets periodically from one address to
another to another to another to keep holdings safe?   
This is automated by a large holder, creating moving targets.

why or how else would this happen?

[rezin777]

You should have used your brain before trying to reply smirky.

Total send doesnt equate to total available.

I can send 1BTC a million times(if there were no delay of course) in a day and it would show 1million BTC transfered.

I just pointed out a fact that huge amounts of coins where moved in last 24hrs. and the reason i think we see this movement because everyone trying to safely secure their bitcoins.

 where did you get an idea that i was clueless how it could be that we have 6 mil and moved 7 mil ?!  follow your own advise for starters

I'd wager that his post was directed at the one directly above it, not yours.

[epi 1:10,000]

Seizure Alert!!!!    Good God how do I read this monstrosity

[mellowhead]

I'm not sure where it fits in with these snakes, but have a look at the "Largest transactions (last 300 blocks)" on http://blockexplorer.com - The same money, starting with 50k BTC, was moved many times to many accounts, leaving behind about 50BTC each time. Seems quite strange to me.

What do you think?

[TraderTimm]

Honestly, I'm waiting for the first person to 'skywrite' "Hello" or a smiley-face in there

I don't know what these are for, just the pattern caught my interest. It could just be someone's personal mixing algorithm sending to different wallets, laundering for some other purpose, or whatever. I only put this thread out there to see if someone would say "Yeah, I know who is doing that - no big deal."

It still isn't that big of a deal, but the amounts are sure interesting...

[dserrano5]

but how does a 50 BTC block correlate with a wallet transaction of 9,000 - 75,000 BTC?

Might be fee related? I recall reading something about the fee amount depending on how "old" the current block is...

[phelix]

saw these snakes and found this post. really weird. also the low altitude snake - or is that the faucet againe http://forum.bitcoin.org/index.php?topic=5819?

[bbjansen]

That looks shady as shit for some reason...

[TraderTimm]

saw these snakes and found this post. really weird. also the low altitude snake - or is that the faucet againe http://forum.bitcoin.org/index.php?topic=5819?

I've seen some repeating patterns on bitcoin monitor since my original post, and I find your snapshot interesting. I still have no idea what is really behind it, though.