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byronbb
Legendary
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Activity: 1414
Merit: 1000
HODL OR DIE
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December 22, 2013, 04:58:24 AM |
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I still don't understand this post. Was it large chunks moved hence 'days destroyed' or was it many small amounts? "So a high number of bitcoin days destroyed means that either old coins that haven't moved for a long time are moving, or that someone with a large number of bitcoins are spending them (or both)." In this case you can actually tell that it's old coins. The total output volume yesterday was about 1 million BTC, which is below the recent average. The days destroyed were about 134 million, which is WAY above average. Therefore you can assume that most of the coins transacted were "regular" young coins, but some of them were very very old. To back this up, blockchain.info has a feature that filters days destoryed by coin age. If you filter with a minimum of 1 year, those transactions account for 131 million out of 134 million total days destroyed yesterday. Since most of the coins moved on an average day are just a few days old, this further suggests that a significant amount of coins more than 1 year old were moved. Assuming no more than 100,000 old coins are involved (probably much less), they would have to be at least 3.5 years old. So it seems likely that a very big miner from 2009/2010 just moved a lot of coins for the first time since mining them. So to speculate to what purpose one moves a ton of old coins. Option 1: Moved to exchange. Uh oh spagettios. Option 2: Sold to private investor/second market. Option 3: Wallet house cleaning. Option 4: Buy a yacht/island.
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ChartBuddy
Legendary
Online
Activity: 2338
Merit: 1802
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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December 22, 2013, 05:01:50 AM |
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MaxwellsDemon
Full Member
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Activity: 187
Merit: 109
Converting information into power since 1867
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December 22, 2013, 05:25:06 AM |
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This can't be it, these are brand new coins... It's probably a bunch of small transactions. As mentioned on reddit, the big 2009/2010 miners usually kept each 50 BTC block reward in a separate address, so it's possible the mystery whale moved them out in separate transactions for each address.
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TERA
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December 22, 2013, 05:27:43 AM |
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Here goes again. All exchanges following btcchina's movement on 200 coins of volume. What a joke.
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jojo69
Legendary
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Activity: 3318
Merit: 4606
diamond-handed zealot
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December 22, 2013, 05:28:56 AM |
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IS THIS REALLY ALL THERE IS?
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solex
Legendary
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Activity: 1078
Merit: 1006
100 satoshis -> ISO code
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December 22, 2013, 05:31:05 AM |
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This can't be it, these are brand new coins... It's probably a bunch of small transactions. As mentioned on reddit, the big 2009/2010 miners usually kept each 50 BTC block reward in a separate address, so it's possible the mystery whale moved them out in separate transactions for each address. Could it be the FBI moving DPR's remaining 400k coins @ average 1 year old?
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MaxwellsDemon
Full Member
Offline
Activity: 187
Merit: 109
Converting information into power since 1867
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December 22, 2013, 05:35:57 AM |
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This can't be it, these are brand new coins... It's probably a bunch of small transactions. As mentioned on reddit, the big 2009/2010 miners usually kept each 50 BTC block reward in a separate address, so it's possible the mystery whale moved them out in separate transactions for each address. Could it be the FBI moving DPR's remaining 400k coins @ average 1 year old? Possible, but that would probably spike the total transaction volume quite a bit. Seems to make more sense that it's a smaller sum but very old. Also, I thought DPR had much less than 400k coins...
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solex
Legendary
Offline
Activity: 1078
Merit: 1006
100 satoshis -> ISO code
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December 22, 2013, 05:47:29 AM |
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This can't be it, these are brand new coins... It's probably a bunch of small transactions. As mentioned on reddit, the big 2009/2010 miners usually kept each 50 BTC block reward in a separate address, so it's possible the mystery whale moved them out in separate transactions for each address. Could it be the FBI moving DPR's remaining 400k coins @ average 1 year old? Possible, but that would probably spike the total transaction volume quite a bit. Seems to make more sense that it's a smaller sum but very old. Also, I thought DPR had much less than 400k coins... A hall of smoke and mirrors is clearer, but it seems he had as many as 600k and the FBI seized 25% of them in October. https://bitcointalk.org/index.php?topic=307463.0
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Krabby
Sr. Member
Offline
Activity: 644
Merit: 250
https://primedao.eth.link/#/
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December 22, 2013, 05:53:48 AM |
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Boo.
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ChartBuddy
Legendary
Online
Activity: 2338
Merit: 1802
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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December 22, 2013, 06:01:55 AM |
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TERA
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December 22, 2013, 06:21:50 AM |
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Such China. Much rise. Spectacular volume. Wow. See on you the moon.
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jojo69
Legendary
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Activity: 3318
Merit: 4606
diamond-handed zealot
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December 22, 2013, 06:24:21 AM |
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TERA
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December 22, 2013, 06:31:26 AM |
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MikeH
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December 22, 2013, 06:51:54 AM |
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OldGeek
Sr. Member
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Activity: 266
Merit: 250
Blitz:The price affects the perception of the news
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December 22, 2013, 06:54:28 AM |
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So, what's going on now? MtSux and Stamp drifting on small volumes while BTC-e rising on moderate volume. No weekend dump so. . . short covering? Bears exhausted from the wait? Boredom? Inquiring minds and all that.
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ChartBuddy
Legendary
Online
Activity: 2338
Merit: 1802
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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December 22, 2013, 07:01:49 AM |
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CryptStorm
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December 22, 2013, 07:16:25 AM |
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So, what's going on now? MtSux and Stamp drifting on small volumes while BTC-e rising on moderate volume. No weekend dump so. . . short covering? Bears exhausted from the wait? Boredom? Inquiring minds and all that.
Yes, much wow, exactly. Exhausted Bored bear go sleep now. Cheers! No forget, much profit, so Doge!
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