Block 142742 [MtGox]

[Kermee]

Block 142742

2.32m BTC's just moved... Nearly 1/3 of all available BTC's mined so far.

Any guesses who?

Cheers,
Kermee

[1714799830]

1714799830

[1714799830]

1714799830

[1714799830]

1714799830

[1714799830]

1714799830

[1714799830]

1714799830

[Garrett Burgwardt]

Mt. Gox most likely.

[N12]

Wow, this is incredible. It’s only 4 blocks ago (MtGox takes 6 confirmations).

Can you say what the oldest block there was? This must be Satoshi?

Alright, looks like we can hold off panicking for now.

[seventoes]

Here's one of the input blocks:

http://blockexplorer.com/address/1eHhgW6vquBYhwMPhQ668HPjxTtpvZGPC

Definitely MtGOX, they used those 424242 transactions in the past to prove that they had control of funds after the hack.

[Maged]

Mt. Gox most likely.

Confirmed. The 424242.42424242 transfer is in the chain, and is noticeable here:
http://blockexplorer.com/tx/27bb969ff9dbfbc11c593316cfd30258dfe73a78a0f0d999939aa767ee0045d4

[GoWest]

1/3 of all Bitcoins are held in the MtGox coffers??  WOW.

[Kermee]

Ah. Make sense. I should of 'dug' deeper down the chain.

Cheers,
Kermee

[MelMan2002]

*whistles*

[grondilu]

It is certainly unwise for most people to hold that many bitcoins on MtGox, imho.

[Steve]

Most impressive.  At $15 a coin market cap of $34.8 million.

You calculated that based on the entire amount that moved in that transaction, however I'm sure not all of the transactions in that block are mtgox.  The first one seems to be a confirmed mtgox transaction from and address that had ~384,000 bitcoins. 

[Jack of Diamonds]

It is certainly unwise for most people to hold that many bitcoins on MtGox, imho.

Mark has stated 98% of their funds are in offline wallets, in safe vaults etc.
Many of the transactions in this block could be going into those.

I don't think it's unwise, as the risk of total loss doesn't exist.
In fact their system is more theft proof than anything I've come across in terms of currencies and commodities.

1. There is a 100btc per day limit on every account
2. Even if you found a perfect way to rob them of their online wallets, you only get 2% of their funds

Unless you can get him to reveal the details of the encrypted memory sticks etc & their locations at gunpoint, they will be safe forever.

[dancupid]

0 fees paid - why am I paying 0.01 fees on a 0.1btc transaction?

[DrKennethNoisewater]

Nice Detective work gents.......

[jackjack]

0 fees paid - why am I paying 0.01 fees on a 0.1btc transaction?

Because you don't use the last version of the client

[Littleshop]

0 fees paid - why am I paying 0.01 fees on a 0.1btc transaction?

The main reason for that is to prevent transaction spam of course they also go to help pay costs.  Before the fees people were sending thousands of tiny transactions back and forth to themselves for an unknown reason.