What if "35hK24tcLEWcgNA4JxpvbkNkoAcDGqQPsP" sold its bitcoin balance.

[stompix]

I also have a noob-ish question: seems there are many other transactions into that address. Small amounts, true, but what's up with that ?

The firsts were a form of dust attacks, meant to discover any other addresses used by your wallet when you send them by merging inputs
Wiki
I don't know how efficient those were but in the past, every address with hacked coins was bombarded with those.

Then there was another form of spam when blockchain.info allowed tagging on transactions
1 Satoshi Deposits with Label "Blockchain accounts hacked"
Random address sent me 1 satoshi

Then when the feature was removed, some kept doing this with vanity addresses as spam but it soon became too costly.

And, there are people who are just bored...

[1715276055]

1715276055

[1715276055]

1715276055

[DarkDays]

https://blockchair.com/bitcoin/address/35hK24tcLEWcgNA4JxpvbkNkoAcDGqQPsP

This address has currently the most bitcoins of all other addresses. If this is one person then he has $1,8B worth. But what could happen if he sold all of his bitcoins? He surely wouldn't get 1,8B. I believe that from the first 10.000BTC he would sell the marketing would start to fall...

Thoughts?

Only a complete fool would attempt to liquidate $1.8 billion worth of Bitcoin in a single order. However, since this guy has managed to rack up almost two billion dollars, we can be pretty sure he's not a fool.

Therefore, if he slowly liquidated his holding, he would likely get close to current market value, so long as he unloads over the course of around a month.

Although tens of billions of dollars in BTC are traded each day, the market is not robust enough to take a $2 billion hit in a short time frame.

Reastically, this address is likely a multi-sig wallet held by an institution, so a dump is highly unlikely unless shit really hits the fan.

[de_ingenious]

Another good example of why you should always keep your keys to yourself. For your own safety and for safety of the whole network. Personal responsibility provides overall well-being

[ethereumhunter]

Ok, let say, someone owned that wallet. He/she send all of his bitcoin to the exchange, we can use Binance for the example. If all of the bitcoin amounts is completing the confirmation, he can sell all of his bitcoin at once. Let say, he sells all of the bitcoin amounts instantly without making an order sell at many prices. That will make the price will drop until his bitcoin sold, and that will cause a big panic from traders because the price is down in one moment without a chance to back increase.

But after all of his bitcoin is sold, the price will start to rise to the last price before he sold, and maybe the price will still increase. He/she by coincidentally will dump the market in one exchange but not all of the bitcoin markets because he is not spread the bitcoin amount he has in many exchanges. But the other exchanges will not get the effect of what he sold, and that is only happening in Binance.

[cafetools]

keeping all those coins in one single address is a horrible idea. Havent they ever heard of "dont keep all your eggs in one basket'?

They should have those spread out over 10+ addresses.

And people in this thread are i believe very wrong. Even if this wallet sold his 1.8 billion dollars of BTC it would only move the price down %1.

180 billion is BTC market cap.

[betty11]

Thanks @Mocacino for clearing op's fear, even if it was owned by just one person, then it belongs to him and his money, if he chooses to sell, we will buy and the world won't come to an end. As for leaving money on exchanges, I simply just avoid leaving a huge fund on exchanges, I don't want to be left in the dark.

[rodskee]

This address has currently the most bitcoins of all other addresses. If this is one person then he has $1,8B worth. But what could happen if he sold all of his bitcoins? He surely wouldn't get 1,8B. I believe that from the first 10.000BTC he would sell the marketing would start to fall...

Thoughts?

This is a exchange wallet and like what the post on the first page this is not their money but from the customer so i believe
there will be no chance that this will be sold at once unless the address is hacked
then it may happen badly .
But even if this happens to be sold ?i think there will not be a Huge impact in the market considering that we have 33 billion volume in 24 hours and has 138 billion in capitalization,maybe there will some shaking but that's all nothing more than that and will recover sooner.

[tbct_mt2]

And what is huobi? A rich company?

You can easily to do your research with https://coinmarketcap.com/.
I give you this tip because you can use it for future cases. When you hear someone says about a project or an exchange you don't know, go to that site and search. I don't imply that if you see companies (projects / exchanges) are listed on that site, they are legit by default.

There are many scam projects are listed there in 2017 and early of 2018 before the site tightened their listing rules. Now, their names are still there but they are scam projects.

Search result with Huobi: https://coinmarketcap.com/exchanges/huobi-global/

[gentlemand]

But even if this happens to be sold ?i think there will not be a Huge impact in the market considering that we have 33 billion volume in 24 hours and has 138 billion in capitalization,maybe there will some shaking but that's all nothing more than that and will recover sooner.

Almost all of that volume is churn from coins inside exchanges that rarely leave. It's traders batting them between each other. It doesn't take a particularly large outside injection of fresh coins deposited solely to sell to really screw with the market.

There's been plenty of talk of the plustoken ponzi being the cause of heavy falls and that's a similar number to some of these wallets and they're stepping the sells over a long time.

[joinfree]

This is a prime example why you should not keep your funds in an exchange wallet. If the private key holder goes scam, or gets robbed, hundreds, maybe thousands of people will lose their funds.

You know, some folks will still not heed to these words of wisdom and still save their funds at exchanges thinking it will lessen the time to buy into a cheap coin when it dumps but little did they know that they are going to lose their funds the exchange gets hacked.