bbc.reporter (OP)
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After all the hype, does anyone have information on this? I reckon blockchain analytics should follow those coins of the new VIP of the bitcoin community and follow the movement of their coins.
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Lorence.xD
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March 06, 2021, 06:11:23 AM |
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Maybe at a cold wallet or any type of hardware wallet because I believe that they know how dangerous it is to store that large amount of bitcoin in an online storage. Or they might be using different addresses and wallets to store their bitcoin, this way they can prevent a one-hit one-kill type of attack. I don't think that we should be worrying about where does this institutional whales are storing their bitcoin because I believe that it is none of our business and the only way that it is our business is when we are planning something bad about it.
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albert0bsd
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March 06, 2021, 06:14:53 AM |
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Yes, such amount of investment need to keep some secret, in the case of the bitcoin wallets i think that the best approach is to have small amounts distributed in a lot of wallets and maybe linked to address with multisignature.
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pooya87
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March 06, 2021, 06:18:20 AM |
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new VIP of the bitcoin community
You mean the new VIPs of the social media. They make for excellent click-baits for news sites that are always dying to get traffic. and follow the movement of their coins.
What kind of useful information would it give anyone to follow where the coins of someone else is going?!
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7788bitcoin
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March 06, 2021, 06:57:30 AM |
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After all the hype, does anyone have information on this? I reckon blockchain analytics should follow those coins of the new VIP of the bitcoin community and follow the movement of their coins.
If large coins are moved then these blockchain analytic can identify them but it is hard to understand who is sending those coins and who owns those coins, what i want to know is how many coins are held by these huge investment firms in exchanges they purchase or will they be moving the coins to their safe wallets because they are purchasing in billions .
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tbct_mt2
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March 06, 2021, 07:14:22 AM |
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Maybe at a cold wallet or any type of hardware wallet because I believe that they know how dangerous it is to store that large amount of bitcoin in an online storage. Or they might be using different addresses and wallets to store their bitcoin, this way they can prevent a one-hit one-kill type of attack.
They would store their bitcoin in different wallets and secure those wallets. If I was them and I have a big capital like that, I would not store all bitcoin in one wallet. Lose one and lose all bitcoin. Not only this, they would consider different wallets and multi-signature wallet can be chosen. I don't think that we should be worrying about where does this institutional whales are storing their bitcoin because I believe that it is none of our business and the only way that it is our business is when we are planning something bad about it.
It is not hacked bitcoin and owners are legit so they will care about their investment, not as hackers. Hackers can dump their bitcoin but whale investors won't. They take profit when their targets are reached and not dump their bitcoin due to instant need of money.
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sunsilk
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March 06, 2021, 12:32:32 PM |
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I've watched a video from an exchange which I forgot the name but it's located in Japan. They have a hardware wallet that's dedicated to the bitcoins that they hold.
And the place where it is stored is in a vault for which only a few staff and officials of the company know the password. What I think is probably they do the same that they have a safety vault and the hardware wallet is placed there.
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Sterbens
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March 06, 2021, 01:07:24 PM |
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I think he keeps it in a very secure wallet with a high level of immune system. a millionaire will not keep a hard wallet like the one we use. But so far have there been any wallets that have been really kept very safe, along with a lot of bitcoins. or maybe they split it into several hard wallets. because they haven't said their wallet was hacked. so I'm sure it's VIP.
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mk4
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March 06, 2021, 01:21:48 PM |
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They would store their bitcoin in different wallets and secure those wallets. If I was them and I have a big capital like that, I would not store all bitcoin in one wallet. Lose one and lose all bitcoin.
Not only this, they would consider different wallets and multi-signature wallet can be chosen.
Multisig? Makes complete sense because you can do this with multiple hardware wallets with different manufacturers. If anything, it's totally recommended. Storing the coins in multiple different wallets just to diversify risk though? Probably not a good idea.
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Dave1
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March 06, 2021, 01:29:06 PM |
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They could be anyone from this rich address: https://bitinfocharts.com/top-100-richest-bitcoin-addresses.htmlAnyhow, I'm sure that there will not be put into public, obviously, for security reasons. Unless Tesla make it a public document in their next SEC filing.
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semobo
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March 06, 2021, 01:29:24 PM |
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Remember Elon said "Free wallet sucks", which means now he understand the risk of storing bitcoin in custodial services so I guess now he might be stored the coins in a real wallet and part in coinbase (maybe). But nobody knows the information unless they publicly state it.
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Taskford
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March 06, 2021, 01:30:29 PM |
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After all the hype, does anyone have information on this? I reckon blockchain analytics should follow those coins of the new VIP of the bitcoin community and follow the movement of their coins.
No one knows aside from them since if they will announce the wallet where they stored their bitcoins it will be possibly targeted for such hacking attacks from criminals so expect that this information will be confidential to assure the safety of their investments. I'm sure many want to know that information since imagine how big the count they store on a platform.
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Furious 7
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March 06, 2021, 01:41:12 PM |
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I've watched a video from an exchange which I forgot the name but it's located in Japan. They have a hardware wallet that's dedicated to the bitcoins that they hold.
And the place where it is stored is in a vault for which only a few staff and officials of the company know the password. What I think is probably they do the same that they have a safety vault and the hardware wallet is placed there.
It is possible that with hardware wallets they can be safer to store the large amount of btc that has been purchased to invest, but is that really true by storing in a safe or can you say a safe? Maybe also for extra security so that no one knows the password. In fact, I don't really think about it, but what plans do they have in the future for the number of bitcoins, will there be some control later, or do they plan to sell more expensive for a long time? Doesn't Elon Musk keep it on hardware too? Yet it continues to create hype.
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| . .Duelbits. | │ | | │ | ▄▄█▄▄░░▄▄█▄▄░░▄▄█▄▄ ███░░░░███░░░░███ ▀░░░▀░░▀░░░▀░░▀░░░▀ ▄░░░░░░░░░░░░ ▀██████████ ░░░░░███░░░░▀ ░░█░░░███▄█░░░█ ░░██▌░░███░▀░░██▌ ░█░██░░███░░░█░██ ░█▀▀▀█▌░███░░█▀▀▀█▌ ▄█▄░░░██▄███▄█▄░░▄██▄ ▄███▄ ░░░░▀██▄▀ | . REGIONAL SPONSOR | | ███▀██▀███▀█▀▀▀▀██▀▀▀██ ██░▀░██░█░███░▀██░███▄█ █▄███▄██▄████▄████▄▄▄██ ██▀ ▀███▀▀░▀██▀▀▀██████ ███▄███░▄▀██████▀█▀█▀▀█ ████▀▀██▄▀█████▄█▀███▄█ ███▄▄▄████████▄█▄▀█████ ███▀▀▀████████████▄▀███ ███▄░▄█▀▀▀██████▀▀▀▄███ ███████▄██▄▌████▀▀█████ ▀██▄███▀██▄█▄▄▄██▄████▀ ▀▀██████████▄▄███▀▀ ▀▀▀▀█▀▀▀▀ | . EUROPEAN BETTING PARTNER | |
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mk4
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March 06, 2021, 01:54:37 PM |
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Remember Elon said "Free wallet sucks", which means now he understand the risk of storing bitcoin in custodial services so I guess now he might be stored the coins in a real wallet and part in coinbase (maybe). But nobody knows the information unless they publicly state it.
I'm pretty sure as smart as Elon is, he already knows the risks of custodial wallets before hand. I'm guessing, since he only used FreeWallet for DOGE anyway, I'd assume he only looked for a wallet to use for a small amount(in contrast to his net worth, of course) of DOGE so he went YOLO and picked whatever wallet he sees.
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NeuroticFish
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March 06, 2021, 01:55:05 PM |
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After all the hype, does anyone have information on this? I reckon blockchain analytics should follow those coins of the new VIP of the bitcoin community and follow the movement of their coins.
This is exactly the part I don't like in Bitcoin: why is everybody so curious about that happens inside this or that person's pocket?! Would you like if everybody would look into your pocket and speculated what will happen next or why did you spend certain money? For this obvious reasons I expect that VIP wallets stay safe and unknown. And there's quite a big chance that also it's not all the money on the same address, so it's much more difficult to narrow the search in case somebody tries that. I also expect that the (big) money is held by 3rd party custodians that know how Bitcoin works, not directly by Tesla/Elon Musk.
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masterzino
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After all the hype, does anyone have information on this? I reckon blockchain analytics should follow those coins of the new VIP of the bitcoin community and follow the movement of their coins.
My guess is as public companies, they have to follow particular standards and use specialized custody companies like Coinbase Custody https://custody.coinbase.com/They cannot just use a hardware/paper wallet like us
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sheenshane
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March 06, 2021, 03:24:46 PM |
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It's might none of our business, sorry to tell you this but I think that's not an important thing to know. As long as Elon Musk invested in Bitcoin and bought from Coinbase exchange, that's it. If we dig more it might good if we ask for information from Coinbase but for sure they will not disclose to anyone such information. Probably you can find information on the Twitter account @Whale_Alert which gives a signal upon having a large transaction transfer from exchange to the unknown wallet address.
Probably it's a Hardwallet wallet or any cold storage that they can store their Bitcoin safe. We know how smart Elon Musk if someone knows where his Bitcoin stored, might scammers will take advantage. It's billions of dollars worth and that is a huge amount if someone could able to leak his wallet. Being a number one richest man on earth, you might be doubled secure yourself and your assets for sure.
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Evilish
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March 06, 2021, 03:50:17 PM |
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After all the hype, does anyone have information on this? I reckon blockchain analytics should follow those coins of the new VIP of the bitcoin community and follow the movement of their coins.
My guess is as public companies, they have to follow particular standards and use specialized custody companies like Coinbase Custody https://custody.coinbase.com/They cannot just use a hardware/paper wallet like us Coinbase custody and Gemini custody seem to be the most popular custodians used by corporations. I don't think corporations like Tesla / MicroStrategy would bank on their engineers to securely store Bitcoin. I am not sure Elon Musk or Mike Saylor are even knowledgeable enough in Bitcoin to understand how multisignature storage works, or their engineering teams for that matter.
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Lucius
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March 06, 2021, 04:02:28 PM |
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My guess is as public companies, they have to follow particular standards and use specialized custody companies like Coinbase Custody
I wondered the same thing while the whole thing was at the beginning, and I have to admit that there was no concrete answer as to who and in what way keeps their BTC. Given that Coinbase bought on their behalf, and they have a service that is just meant for such customers, it is very likely that BTC is right there. I totally agree that it is not at all realistic for them to use any other way for what they bought through their companies, but it is possible that the story is quite different with what they bought privately - and it is known that Saylor bought a certain amount with his private money.
This is exactly the part I don't like in Bitcoin: why is everybody so curious about that happens inside this or that person's pocket?!
I may be wrong, but I think this is about people wondering if they really own what they bought, or if they are among those who don't understand what "not your keys, not your coins" means. Seen from our perspective, they don't really own anything in that case - just a promise that something is somewhere.
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