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Author Topic: 194,993 BTC transaction  (Read 14548 times)
gweedo
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November 22, 2013, 06:13:49 PM
 #21


Something tells me it is a like gox/bitstamp/coinbase/<insert other bitcoin company> moving funds offline or something.

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November 22, 2013, 06:15:40 PM
 #22

Could this be satoshi? Some of the inputs(and I mean from going backwards and backwards in the trace) are as old 2010 February and owned by a single miner who donated 500btc to a faucet once.

Doubt it.

Probably just an old miner or entrepreneur, early adopter with capital willing to risk.
I followed more, and he has mined blocks as far as December 25 2009, crazy.

BTC:1AiCRMxgf1ptVQwx6hDuKMu4f7F27QmJC2
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November 22, 2013, 06:16:06 PM
 #23


Something tells me it is a like gox/bitstamp/coinbase/<insert other bitcoin company> moving funds offline or something.

Also another possibility.

Could this be satoshi? Some of the inputs(and I mean from going backwards and backwards in the trace) are as old 2010 February and owned by a single miner who donated 500btc to a faucet once.

Doubt it.

Probably just an old miner or entrepreneur, early adopter with capital willing to risk.
I followed more, and he has mined blocks as far as December 26 2009, crazy.

It is pretty crazy but this isn't the first instance of seeing this happen.

There are many early adopters that trusted the idea and are now reaping the profits.

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November 22, 2013, 06:19:26 PM
 #24

Someone preparing to sell?

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November 22, 2013, 06:23:34 PM
 #25

going back to the earliest transaction won't be much of a clue. you don't know how many times and if those coins ever changed hands or not.

it could however provide some ideas though

ok
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November 22, 2013, 06:25:16 PM
 #26

going back to the earliest transaction won't be much of a clue. you don't know how many times and if those coins ever changed hands or not.

it could however provide some ideas though
True. I am wondering if it isn't that lazslo guy, that bought two pizza for 10k BTC. Since he donated 500btc to the faucet, and I saw he posted something like that, and it is around the same time.

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vandeam
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November 22, 2013, 06:26:46 PM
 #27

Hope he dumps it slowly..
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November 22, 2013, 06:28:28 PM
 #28

Someone preparing to sell?

Sell??  Grin

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November 22, 2013, 06:28:41 PM
 #29

Hope he dumps it slowly..

Hope he dumps it quickly.

I want cheap coins.
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November 22, 2013, 06:37:44 PM
 #30

Wow that is a a sexy amount
Dump it don't think the price could handle Tongue
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November 22, 2013, 06:42:23 PM
 #31

No transaction fee lol.

Probably not on purpose.

BlockChain is doing that by default now.
high priority transaction don't need a fee.

and I really doubt anyone is holding $147M on blockchain.

True - didn't think of that.

I wonder where one stores $147M in BTC...

Mhmm...  A vault? Lol.

I would use the Armory client and it's offline wallet feature.

You don't need a vault to protect a bitcoin wallet, that's the beauty of it.

People kill other people for thousands.

If someone knew it was on a computer I'm sure there are MANY people that would be willing to kill for $147M and steal the computer.

Offline clients are safer than online, but not safer than paper wallets.

I'd bury a paper wallet if it held that many BTC.


Paper wallets are Plain text Private keys, Offline wallets are usually encrypted wallets which only the owner has the passphrase to and at least one copy somewhere else...
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November 22, 2013, 06:59:21 PM
 #32

Wow. This means someone controls 1.6667% of all coins in circulation.

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November 22, 2013, 07:03:51 PM
 #33

Wow. This means someone controls 16.66667% of all coins in circulation.

I think you mean 1.6%   Wink


I would assume that someone who wanted to sell this many coins wouldn't deposit at an exchange to trade them... unless of course they wanted to absolutely destroy the trade price of the asset they are trying to sell. Which doesn't seem very smart to me.

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flatfly
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November 22, 2013, 07:14:48 PM
 #34

Wow. This means someone controls 16.66667% of all coins in circulation.

I think you mean 1.6%   Wink


I would assume that someone who wanted to sell this many coins wouldn't deposit at an exchange to trade them... unless of course they wanted to absolutely destroy the trade price of the asset they are trying to sell. Which doesn't seem very smart to me.

Sorry, this is what sleep deprivation does... Fixed Smiley

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November 22, 2013, 07:27:48 PM
 #35

I would assume that someone who wanted to sell this many coins wouldn't deposit at an exchange to trade them... unless of course they wanted to absolutely destroy the trade price of the asset they are trying to sell. Which doesn't seem very smart to me.

I would contend that "destroying the trade price" on exchanges would be a smart move at this stage for large coin holders, or at least not strictly dumb.  It would dissuade some speculatory investment and get more coin in circulation for use as currency to buy goods and services.  The coin concentration problem is a very real one.

Huge speculative buys on exchanges are great for short term gain, but not nearly as good for long term currency status.  Large coin holders will want to sell as little of their coin as possible if they are looking to maximize pure profit; but if they want the idea of decentralized money to take off using Bitcoin, they need adoption rate for merchants and consumers to steadily increase as well.  If they continue to hold tightly, we probably end up with Bitcoin as primarily a store of value, which negates or dulls many of its other useful features.

We will see how many of the early adopters/innovators believe in the idea of Bitcoin, and how many were simply driven by greed.  So far, with the amount of old coins sitting idle, I'd say we can see where it's going unless something changes.  That said, I am curious where these coins will go.  Smiley
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November 22, 2013, 07:44:01 PM
 #36

It's probably gox moving coins around, or one of the really big investors changing their savings strategy.

more or less retired.
superduh
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November 22, 2013, 07:49:07 PM
 #37

pirateat40?

who is it? come here and state so

ok
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November 22, 2013, 08:08:10 PM
 #38

Satoshi? Is that you?
Ekaros
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November 22, 2013, 08:25:11 PM
 #39

Will someone test what is the real market cap?

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November 22, 2013, 08:32:26 PM
 #40

No transaction fee lol.

Probably not on purpose.

BlockChain is doing that by default now.
high priority transaction don't need a fee.

and I really doubt anyone is holding $147M on blockchain.

True - didn't think of that.

I wonder where one stores $147M in BTC...

Mhmm...  A vault? Lol.

I would use the Armory client and it's offline wallet feature.

You don't need a vault to protect a bitcoin wallet, that's the beauty of it.

People kill other people for thousands.

If someone knew it was on a computer I'm sure there are MANY people that would be willing to kill for $147M and steal the computer.

Offline clients are safer than online, but not safer than paper wallets.

I'd bury a paper wallet if it held that many BTC.


Paper wallets are Plain text Private keys, Offline wallets are usually encrypted wallets which only the owner has the passphrase to and at least one copy somewhere else...

Exactly. Encryption is a powerful tool and Bitcoin allows us to use that tool to protect our money.

I'd bury an encrypted paper wallet if it held that many BTC (sadly Armory does not allow for the printing of encrypted paper wallets, so you must find another way).

INB4 $5 wrench.

Actually etothepi is releasing a new version of Armory today which works with Ubuntu 10.04 that allows for printing encrypted paper wallets.
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