big news, bitcoin address top1 changed yesterday

[dukong]

Top1: 183498.40110794


http://btc.ondn.net
http://btc.ondn.net/topamount

[dukong]

http://btc.ondn.net/topamount

[hystericG]

mark karpeles personal wallet?

[ranlo]

Top1: 183498.40110794


http://btc.ondn.net
http://btc.ondn.net/topamount

How is this big news though? What relevance does this have to anything? Just knowing that someone has access to the 183k now?

[BitcoinBobbeh]

mark karpeles personal wallet?

[beetcoin]

Top1: 183498.40110794


http://btc.ondn.net
http://btc.ondn.net/topamount

How is this big news though? What relevance does this have to anything? Just knowing that someone has access to the 183k now?

if i were to guess, a few of those top spots could be owned by one person. i know i wouldn't put all my eggs in 1 basket if i had that much btc. maybe it was a consolidation.

[agoraadnim]

That much in One wallet   Sounds very dangerous to me....

[ranlo]

That much in One wallet   Sounds very dangerous to me....

Anyone with that many coins would likely be smart enough to not dump them, and instead trickle them should they want to exit. I really don't think there's much to fear there.

[Light]

Anyone with that many coins would likely be smart enough to not dump them, and instead trickle them should they want to exit. I really don't think there's much to fear there.

Being smart and not wanting to hurt Bitcoin are two separate things. Although unlikely, that person could instead see if they could damage Bitcoin by dumping that much on the market to cause a systemic fall in price which would lead to mass panic. It's anyone's guess what would happen after that.

That being said, few people have enough money such that they would be willing to lose 100 million USD to destroy Bitcoin.

[ranlo]

Anyone with that many coins would likely be smart enough to not dump them, and instead trickle them should they want to exit. I really don't think there's much to fear there.

Being smart and not wanting to hurt Bitcoin are two separate things. Although unlikely, that person could instead see if they could damage Bitcoin by dumping that much on the market to cause a systemic fall in price which would lead to mass panic. It's anyone's guess what would happen after that.

That being said, few people have enough money such that they would be willing to lose 100 million USD to destroy Bitcoin.

I really think that's an irrational fear though. While it could happen, I just really don't think it would. The amount that could be earned as a result of NOT doing that is so substantial I don't see anyone throwing it away like that.

[Light]

I really think that's an irrational fear though. While it could happen, I just really don't think it would. The amount that could be earned as a result of NOT doing that is so substantial I don't see anyone throwing it away like that.

Sure it is. But it's never really hurt to be prepared for the unexpected/unlikely and there are certainly examples throughout history where the highly improbable/illogical has happened before. You never know - there could be parties who stand to lose if Bitcoin gained traction (ie banking sector) so someone with an incredible holding in bank shares might want to debase Bitcoin rather than devalue those shares.

Bah, but it really is just mere speculation. In all honestly, if people wanted to destroy Bitcoin enough it would have died back in '11/'12.

[blatchcorn]

I really think that's an irrational fear though. While it could happen, I just really don't think it would. The amount that could be earned as a result of NOT doing that is so substantial I don't see anyone throwing it away like that.

Sure it is. But it's never really hurt to be prepared for the unexpected/unlikely and there are certainly examples throughout history where the highly improbable/illogical has happened before. You never know - there could be parties who stand to lose if Bitcoin gained traction (ie banking sector) so someone with an incredible holding in bank shares might want to debase Bitcoin rather than devalue those shares.

Bah, but it really is just mere speculation. In all honestly, if people wanted to destroy Bitcoin enough it would have died back in '11/'12.

Even if the price went back to $0.01, I think BTC would still survive.  Everyone would be picking up coins left right and center at that price

[ranlo]

I really think that's an irrational fear though. While it could happen, I just really don't think it would. The amount that could be earned as a result of NOT doing that is so substantial I don't see anyone throwing it away like that.

Sure it is. But it's never really hurt to be prepared for the unexpected/unlikely and there are certainly examples throughout history where the highly improbable/illogical has happened before. You never know - there could be parties who stand to lose if Bitcoin gained traction (ie banking sector) so someone with an incredible holding in bank shares might want to debase Bitcoin rather than devalue those shares.

Bah, but it really is just mere speculation. In all honestly, if people wanted to destroy Bitcoin enough it would have died back in '11/'12.

Even if the price went back to $0.01, I think BTC would still survive.  Everyone would be picking up coins left right and center at that price

Well, the important thing to remember is that Bitcoin has utility. Even when it was worth almost nothing, people were still using it. Even if it goes back down to $0.00001, there will be people who use it for different things. So in terms of being alive/dead, Bitcoin won't be going anywhere, regardless of the price.

[Light]

Even if the price went back to $0.01, I think BTC would still survive.  Everyone would be picking up coins left right and center at that price

I would disagree. If we managed to get that low people would have considered the whole thing as a big failure and left it alone. If it was so clear that Bitcoin was great the price would have shot up significantly long before late '11.

Well, the important thing to remember is that Bitcoin has utility. Even when it was worth almost nothing, people were still using it. Even if it goes back down to $0.00001, there will be people who use it for different things. So in terms of being alive/dead, Bitcoin won't be going anywhere, regardless of the price.

Back then, it was just a fun thing that people were experimenting with. As a guy from that time (back when Gavin was giving out BTC0.05 every hour on his faucet) I can easily tell you that very few people believed we would reach what we have now. Aside from the tiny community, no one else actually accepted it as a form of payment. We didn't have the 'infrastructure' like BitPay to get merchant acceptance nor did we have a particularly large voice in the real world. It took time to develop and grow and if it suddenly destabilized to that extent the perception quite possibly would be that it is dead and everyone would jump ship. You must remember that anything Bitcoin does can and is replicated in another altcoin. Fundamentally, nothing but the 'infrastructure' we have now for Bitcoin makes it different from any other alt.

[ranlo]

Even if the price went back to $0.01, I think BTC would still survive.  Everyone would be picking up coins left right and center at that price

I would disagree. If we managed to get that low people would have considered the whole thing as a big failure and left it alone. If it was so clear that Bitcoin was great the price would have shot up significantly long before late '11.

Well, the important thing to remember is that Bitcoin has utility. Even when it was worth almost nothing, people were still using it. Even if it goes back down to $0.00001, there will be people who use it for different things. So in terms of being alive/dead, Bitcoin won't be going anywhere, regardless of the price.

Back then, it was just a fun thing that people were experimenting with. As a guy from that time (back when Gavin was giving out BTC0.05 every hour on his faucet) I can easily tell you that very few people believed we would reach what we have now. Aside from the tiny community, no one else actually accepted it as a form of payment. We didn't have the 'infrastructure' like BitPay to get merchant acceptance nor did we have a particularly large voice in the real world. It took time to develop and grow and if it suddenly destabilized to that extent the perception quite possibly would be that it is dead and everyone would jump ship. You must remember that anything Bitcoin does can and is replicated in another altcoin. Fundamentally, nothing but the 'infrastructure' we have now for Bitcoin makes it different from any other alt.

It was my understanding that BTC was also heavily used in the DNM though. Its utility was anonymity when making transfers, which is important to a lot of people. I don't do crimes, but at the same time there's no reason for people to know I just spent $3.29 on milk and I buy bread once every 8 days. While that information doesn't necessarily hurt, there is absolutely no reason why I should be forced to share it with everyone. This, to me, is where Bitcoin got its utility from. The fact that I can go grocery shopping without people knowing how much I bought, when I bought it and what I bought.

[Beliathon]

Even if the price went back to $0.01, I think BTC would still survive.  Everyone would be picking up coins left right and center at that price

I would disagree. If we managed to get that low people would have considered the whole thing as a big failure and left it alone.

You're wrong, Light is right. Too much is invested now, Bitcoin would not die so easily.

Killing Bitcoin by dumping won't work for the same reason that killing it by buying won't work.
In the former case, you are essentially giving away your wealth to all those who are clever enough to accept it (buy while you continuously sell, driving price down).
In the latter case, you are giving away your wealth to all those who are clever enough to accept it (sell while you continuously buy, driving price up).

Bitcoin is organic, sort of "alive". Difficult to explain, but you must trust me, I'm absurdly smart.

[BittBurger]

A little ways down it says this:

https://blockchain.info/address/1EFJUipfCHFmmTFkF9vvjFKdBf3VbfvarM

1Drt3c8pSdrkyjuBiwVcSSixZwQtMZ3Tew (Stolen coins from mtgox ) - (Spent) 6,000 BTC
1FcrVDtPLz7Bb9DbyqxyGpWby54gaJYUwh - (Spent) 0.01000975 BTC

Is that relevant to anything?

-B-

EDIT:  in fact it says that nearly all the way down the page.

EDIT 2:   When i clicked the little box arrow next to the word "mtgox" it took me here ?

http://canibuildasitehandlingotherpeoplesmoney.com/b.html

[ranlo]

A little ways down it says this:

https://blockchain.info/address/1EFJUipfCHFmmTFkF9vvjFKdBf3VbfvarM

1Drt3c8pSdrkyjuBiwVcSSixZwQtMZ3Tew (Stolen coins from mtgox ) - (Spent) 6,000 BTC
1FcrVDtPLz7Bb9DbyqxyGpWby54gaJYUwh - (Spent) 0.01000975 BTC

Is that relevant to anything?

-B-

EDIT:  in fact it says that nearly all the way down the page.

EDIT 2:   When i clicked the little box arrow next to the word "mtgox" it took me here ?

http://canibuildasitehandlingotherpeoplesmoney.com/b.html

This is just saying that money was transferred to the account Mt. Gox used. But if someone were to be using the exchange, it would have been sent to a different address (as each person had their own). So this could be a Mt. Gox address, right? That's the only reason I can think of for sending coins to that specific address.

Also, if you CTRL+F it, you will see that it wasn't the only transaction going to that Mt. Gox address. There's more.

[haploid23]

Btw what ever happened to all the bitcoins that the FBI seized from silk road? I think I remember it was the 2nd highest amount someone has, in the case the FBI.

[MyPotPlantDied]

Hmmmm, huge price jump and now this news..... something's up!