Massive $1 Billion Bitcoin Whale Transaction Makes Waves

[momchilandonov]

A massive 94,505 bitcoin transaction made crypto headlines as investors and investigators speculated from whence the BTC came.

The wallet, first accessed late on September 5, 2019, has been involved in only seven transactions including the massive whale move. Other moves include a $6,644 deposit early on September 6 and a deposit of $6.66 a few hours later.

https://www.coindesk.com/massive-1-billion-bitcoin-whale-transaction-makes-waves

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[seoincorporation]

Is a big amount who can crash easily the markets, that's why people and investors get in panic after seeing that enormous transaction.

The bitcoins haven't been sold, but if the owner decides to do it I think we will see a price crash down to $7k. So, let's keep an eye on the addy who holds those coins.

[philipma1957]

it involves  more then that one move

this address sent 18000 coins 2016-11-29

https://www.blockchain.com/btc/address/1L9e2x2MyX3afBYKQF8KFzScTJp73E3d3Q


to this address

https://www.blockchain.com/btc/address/1JCe8z4jJVNXSjohjM4i9Hh813dLCNx2Sy?offset=100&filter=6


which then sent those 18000 to  2019-09-06

and also 20,000

and also 15,000  total of 53,000



https://www.blockchain.com/btc/address/37XuVSEpWW4trkfmvWzegTHQt7BdktSKUs


you can trace further back  on those 18,000


there were more then one big sending address on sept 6 this year.

https://www.blockchain.com/btc/address/15NQthxeLSwMtEaXJFM7YUCf59LzmFjkeH
this  one sent 11800

https://www.blockchain.com/btc/address/1PfceCKGraSPEvx6nfjw5ZCLLy8Ct23Qd5
this one sent 15000


this one sent

https://www.blockchain.com/btc/address/1KKiEAkpnQR2FH5kpkGP6442ZDkd6ZdrRS

12800

the other 3 did 39600   this adds up to  92,600 of the 94,504 send


the coins have been around a while.



the 1KK was filled in 2017  from the 1JCe address

[oaz7t]

What is the significance of tracking such huge transaction ?

I see it as normal transaction considering the blockchain which helps them move such huge amount of money without hassle.

Seems like Satoshi's first principle is proven here one more time. No limits on transaction and no extra identification for the same.

Even we should not take this transaction very seriously when it comes to the trading, holding and stuff like that. I mean most of us might get afraid that there might be huge sell off and thus dropping the prices heavily.

But this could be just normal transaction where they are moving the coins to another location for safety reasons. Moreover it would be hard to sell such huge amount in exchange with fiat currency.

It's good though, we gotta see such whale exists around us. (Might be an exchanger also).

[pooya87]

this is already an old news from many days ago and there are multiple topics discussing this with no purpose. and that address has a higher chance of belonging to a big service instead of a big whale, specially since whales don't keep all their coins in one address, they spread them around for this very reason (so people don't see what they do that easily!).

[Mpamaegbu]

What is the significance of tracking such huge transaction ?

It just goes to show that the crypto industry is a highly speculative one. The only reason traders do that which is quoted is so as to monitor what the big hodlers/whales are doing in order to garner trading decisions. Fundamentals/news are the major driving force in cryptocurrency and shouldn't be overlooked.

[figmentofmyass]

What is the significance of tracking such huge transaction ?

I see it as normal transaction considering the blockchain which helps them move such huge amount of money without hassle.

nick szabo thought it was worth noting. the value of the transaction was so large that it created significant incentives for an attacker to perform a reorg. this is not something you see everyday.

Such confidence in Bitcoin is splendid, but a 94,500 BTC tx tempts fate. If recipient can make that much from reversing the tx, they can afford to run a 51% attack for more than 40 days. Big if & very visible, but security here depends more on trust & less on the protocol itself.

[Kakmakr]

The uncertainty of the identity of the person behind this transaction, is exactly what we wanted from Bitcoin.    The fact that this ghost whale has not been identified, shows that pseudo anonymity is working and that is very good for everyone.  

I still think this has something to do with Bakkt, but only time will tell if this was a Bakkt transfer of coins.    Why is this timed with the opening of the Bakkt warehouse? It would be interesting to see, what happens when people starts using this platform and what their response would be. 

[Jating]

The uncertainty of the identity of the person behind this transaction, is exactly what we wanted from Bitcoin.    The fact that this ghost whale has not been identified, shows that pseudo anonymity is working and that is very good for everyone.  

I still think this has something to do with Bakkt, but only time will tell if this was a Bakkt transfer of coins.    Why is this timed with the opening of the Bakkt warehouse? It would be interesting to see, what happens when people starts using this platform and what their response would be. 

The Bakkt thingy was one speculation floated around that time. We all know that they are expected to accept withdrawals/deposit around that time so most likely it could be them.

But this was days ago, nothing significant happen after the move, bitcoin remains above $10k and all speculation above who's the entity behind fall into deaf ear.

[MonsterV]

What is the significance of tracking such huge transaction ?

It just goes to show that the crypto industry is a highly speculative one. The only reason traders do that which is quoted is so as to monitor what the big hodlers/whales are doing in order to garner trading decisions. Fundamentals/news are the major driving force in cryptocurrency and shouldn't be overlooked.

I know that, that monitoring every transaction made by a big trader is included in fundamental analysis, but we don't always consider it to be a threat or a big impact. When whale send a very big bitcoin to another wallet, it does not mean they will sell it, sometimes they share it on several wallets. What needs to be monitored is each transaction at exchange wallet address because it has potential to be sell.

[mohdk52]

This happens quite often, just you do not always pay attention to it. It doesn't matter

[Wind_FURY]

Did the whale transfer his coins to a Segwit address? Plus he also moved his Rogercoins and Craigcoins to new addresses.

https://www.blockchain.com/bch/address/1JCe8z4jJVNXSjohjM4i9Hh813dLCNx2Sy

https://bchsvexplorer.com/address/1JCe8z4jJVNXSjohjM4i9Hh813dLCNx2Sy

Those are good "dividends".

[yazher]

You guys just over speculating it, Maybe that transaction came from a Mixer site.
or some Bitcoins Casino or something else. no one will sold that high amount of coin.
They need to stop Overthinking about it or else they cannot move on with their life
No one's gonna tell them what's that Bitcoin for since the real owner is taking precautions
action for every move it takes.

[sureshverma]

I do not think that it is worth paying attention to even such large transactions, because they still do not affect the price of bitcoin

[||bit]

I think 1 billion dollars transaction was the biggest one so far.This was done by whale on a periodic for the reduction of bitcoin price in a short while.When the price was reduced huge,their will be huge purchase by the whale.And the repeat the step for many times.It may be their move to reduced the price.This is the reason for the decentralized concept of the bitcoin.

[Wind_FURY]

How much confirmations would be needed for the $1,000,000,000 transaction to be "safe" for the recipient? It must be tempting for some miners to reorg the chain. Hahaha.

[betty11]

The amount is quite huge looking at the market at present. One thing is that: This may be a strategy to get some traders to panic and at the end, they just buy more and the weak traders may just have to buy at a higher rate after a sell off. This is partly how the whales control the market.

[Artemis3]

Is a big amount who can crash easily the markets, that's why people and investors get in panic after seeing that enormous transaction.

The bitcoins haven't been sold, but if the owner decides to do it I think we will see a price crash down to $7k. So, let's keep an eye on the addy who holds those coins.

10k to 7k is not a crash, its like a mere 30% loss. Why do you insist in abusing the word crash? Let the whale sell them, it means cheap bitcoin for the few lucky that manage to buy them, i would expect a very quick correction afterwards.

the term commonly applies to steep double-digit percentage losses

Bitcoin's future is sealed in its code. Those who don't trust it, are welcome to sell them, its better for all of those who don't trust it to get rid of theirs, and the true holders to amass them. You will see this is part of the irreversible process of maturity, including price stability, which should healthily slow down its constant price increases and eventually settle somewhere within 1 digit yearly increase (because fiats are all being devalued intentionally). Could take a few more decades...

[audaciousbeing]

Even by propagating the news is doing more harm than good because I don't think there is anyone reading this news that have as much as $1billion to inject into the market should this amount goes out which means if this move would crash the market, there is probably nothing that anyone can do about it. However, just reading about it could cause a panic move of things because with this sale and its effect should it happen, I can just go ahead and dump which would further drop the price even before the main event that caused it.

The point is, we need to start focusing on other things rather than tracking transactions whose purpose or owners are even unknown to us. Let them do their things while others do theirs as well.

[figmentofmyass]

How much confirmations would be needed for the $1,000,000,000 transaction to be "safe" for the recipient? It must be tempting for some miners to reorg the chain. Hahaha.

"more than 40 days" worth of blocks, according to nick szabo. it seems like there's a lot of trust in miners not to jeopardize their long term interests.

This happens quite often, just you do not always pay attention to it. It doesn't matter

when's the last time you saw a billion dollar transaction?