OROBTC (OP)
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June 06, 2014, 03:36:17 PM |
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... Block 304517 (won by BTC Guild) came in at a (gross) amount of $126,442,364.66 !!I have not seen one that big before. I do know that BTC Guild itself saw nowhere near that amount, but someone made/transferred a lot of money today. I hope they don´t spend it all in one place.
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"Your bitcoin is secured in a way that is physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter a majority of miners, no matter what." -- Greg Maxwell
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Beliathon
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June 06, 2014, 03:52:02 PM |
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Please elaborate. Explain this block system to the readers - why are all blocks not the same reward amount?
Help us learn.
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odolvlobo
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June 06, 2014, 03:56:40 PM |
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Please elaborate. Explain this block system to the readers - why are all blocks not the same reward amount?
Help us learn.
The reward is the same for every block. The amount above is the the sum of all the transactions in the block. You can look at the details of the block and all of the transactions it holds here: https://blockchain.info/block-index/433765/00000000000000001f0375f8b88966ad4dd834f1687d12c06739bcebd60b0854
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Join an anti-signature campaign: Click ignore on the members of signature campaigns. PGP Fingerprint: 6B6BC26599EC24EF7E29A405EAF050539D0B2925 Signing address: 13GAVJo8YaAuenj6keiEykwxWUZ7jMoSLt
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cr1776
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June 06, 2014, 03:58:58 PM |
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The blocks are the same reward amount (except due to a halving). OROBTC was remarking that the total number of BTC in the output was 191,445.9... which at the current US dollar value was around $126 million in transactions.
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qwk
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Shitcoin Minimalist
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June 06, 2014, 04:01:39 PM |
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Yeah, well, I'm gonna go build my own blockchain. With blackjack and hookers! In fact forget the blockchain.
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Beliathon
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June 06, 2014, 04:02:22 PM |
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It seems arbitrary to me to point to the block and say, "look, that is important!"
The individual transaction(s) are the important data, not the particular block they happen to fall within. You know what I mean?
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OROBTC (OP)
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June 06, 2014, 04:33:48 PM |
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... Beginner here, Beliathon. Peace. This just happened to be the biggest number I have seen cross the blockchain.info wire, and I thought it might be of interest. I too saw the large transaction within, and of course would be curious about that as well. BIG transactions like that would hint (well to me) that there is ever building confidence in Bitcoin.
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hodlmybtc
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June 06, 2014, 04:41:44 PM |
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Funds are Bitstamp's cold wallet
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franky1
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June 06, 2014, 04:46:34 PM |
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... Block 304517 (won by BTC Guild) came in at a (gross) amount of $126,442,364.66 !!I have not seen one that big before. I do know that BTC Guild itself saw nowhere near that amount, but someone made/transferred a lot of money today. I hope they don´t spend it all in one place. tx fee: 0.17833101 translation $114 to move $126million, western union, banks, paypal... try beating that!
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I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER. Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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Ron~Popeil
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June 06, 2014, 04:47:49 PM |
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... Block 304517 (won by BTC Guild) came in at a (gross) amount of $126,442,364.66 !!I have not seen one that big before. I do know that BTC Guild itself saw nowhere near that amount, but someone made/transferred a lot of money today. I hope they don´t spend it all in one place. tx fee: 0.17833101 translation $114 to move $126million, western union, banks, paypal... try beating that! That is just incredible. When migrant workers catch on to this another battle will be over before it even starts.
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TimS
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June 06, 2014, 06:14:49 PM |
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tx fee: 0.17833101
translation $114 to move $126million, western union, banks, paypal... try beating that!
The big transaction was actually free. $0 to move $117 million (not counting the 25 BTC block reward, which could be viewed as a subsidy). The largest fee I think was 0.0012: 79 cents to move $6.69 (lots of inputs).
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icey
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May the coin be with you..
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June 06, 2014, 07:10:10 PM |
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... Block 304517 (won by BTC Guild) came in at a (gross) amount of $126,442,364.66 !!I have not seen one that big before. I do know that BTC Guild itself saw nowhere near that amount, but someone made/transferred a lot of money today. I hope they don´t spend it all in one place. tx fee: 0.17833101 translation $114 to move $126million, western union, banks, paypal... try beating that! Unbelievable really, being able to move $126million for 0.. I'd be interested to see how much a bank would charge to do that, and what paperwork would need to be filled in.
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QuestionAuthority
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You lead and I'll watch you walk away.
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June 06, 2014, 07:14:26 PM |
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... Block 304517 (won by BTC Guild) came in at a (gross) amount of $126,442,364.66 !!I have not seen one that big before. I do know that BTC Guild itself saw nowhere near that amount, but someone made/transferred a lot of money today. I hope they don´t spend it all in one place. tx fee: 0.17833101 translation $114 to move $126million, western union, banks, paypal... try beating that! Unbelievable really, being able to move $126million for 0.. I'd be interested to see how much a bank would charge to do that, and what paperwork would need to be filled in. Why is that hard to believe? Banks do it every day and that's what happened here. A Bitcoin bank moved money.
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icey
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May the coin be with you..
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June 06, 2014, 07:17:45 PM |
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Surely a bank wouldn't move that amount of money with any costs being incurred?
I'm just pointing out its amazing that we can move vasts amounts of money without any paperwork, to anybody in the world for no costs. If that doesn't convince skeptics then nothing will.
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sgbett
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June 06, 2014, 07:45:18 PM |
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Surely a bank wouldn't move that amount of money with any costs being incurred?
I'm just pointing out its amazing that we can move vasts amounts of money without any paperwork, to anybody in the world for no costs. If that doesn't convince skeptics then nothing will.
Bank to bank I'm sure they don't charge each other. You and I aren't in the club though, thats why we pay
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"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" - Satoshi Nakamoto*my posts are not investment advice*
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QuestionAuthority
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June 06, 2014, 07:46:29 PM |
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Surely a bank wouldn't move that amount of money with any costs being incurred?
I'm just pointing out its amazing that we can move vasts amounts of money without any paperwork, to anybody in the world for no costs. If that doesn't convince skeptics then nothing will.
You're right, Bitcoin is great for the little guy to move money for free low cost. Large amounts are moved between branches and banks for free all the time. Think about it a minute, are they going to charge themselves for the move? My bank even lets me transfer between different accounts at different banks without a fee. My bank may charge a fee for faster service but my credit union offers 3-business-day transfers for free. One day costs $2. So, in theory, I could transfer $126,000,000 for $2 and get it in one day.
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Meuh6879
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June 06, 2014, 07:50:40 PM |
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So, in theory, I could transfer $126,000,000 for $2 and get it in one day.
with bitcoin, you can transfert 1 000 000 of BTC in 1 hours to the bottom of the bresil ... for 0,002 BTC it's not the theory. it's that, bitcoin. the network job.
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DolanDuck
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June 06, 2014, 07:56:18 PM |
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Amazing, I hope some finance newspaper or website will write a report about this transaction to spread the word.
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▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ PRIMEDICE The Premier Bitcoin Gambling Experience @PrimeDice ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
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QuestionAuthority
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June 06, 2014, 07:59:44 PM |
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So, in theory, I could transfer $126,000,000 for $2 and get it in one day.
with bitcoin, you can transfert 1 000 000 of BTC in 1 hours to the bottom of the bresil ... for 0,002 BTC it's not the theory. it's that, bitcoin. the network job. If I had a hundred million dollars I don't think I would worry about them charging me the cost of a two liter bottle of soda for the transfer because they can be held accountable for the transfer and it's insured. The last one business day (8 hour) guaranteed transfer I did cleared the bank in about 1.5 hours. Same-same.
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Boris-The-Blade
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June 06, 2014, 10:22:27 PM |
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... Block 304517 (won by BTC Guild) came in at a (gross) amount of $126,442,364.66 !!I have not seen one that big before. I do know that BTC Guild itself saw nowhere near that amount, but someone made/transferred a lot of money today. I hope they don´t spend it all in one place. tx fee: 0.17833101 translation $114 to move $126million, western union, banks, paypal... try beating that! That is some serious value!
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Swordsoffreedom
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Leading Crypto Sports Betting & Casino Platform
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June 06, 2014, 10:35:25 PM |
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tx fee: 0.17833101 translation $114 to move $126million, western union, banks, paypal... try beating that! It cannot be outdone and that is a nice sum of money that just moved Wonder what the occasion is sometimes large amounts move before something big happens
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..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
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Ron~Popeil
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June 06, 2014, 10:55:26 PM |
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tx fee: 0.17833101 translation $114 to move $126million, western union, banks, paypal... try beating that! It cannot be outdone and that is a nice sum of money that just moved Wonder what the occasion is sometimes large amounts move before something big happens That's what I was thinking. Hopefully it isn't being moved to sell.
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xenon481
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June 06, 2014, 11:02:41 PM |
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Surely a bank wouldn't move that amount of money with any costs being incurred?
I'm just pointing out its amazing that we can move vasts amounts of money without any paperwork, to anybody in the world for no costs. If that doesn't convince skeptics then nothing will.
Bank to bank I'm sure they don't charge each other. You and I aren't in the club though, thats why we pay Working in the banking industry, that is not true. The banks take every single opportunity that they can to charge eachother.
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Tips Appreciated: 171TQ2wJg7bxj2q68VNibU75YZB22b7ZDr
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bitcad4u
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June 06, 2014, 11:50:42 PM |
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tx fee: 0.17833101 translation $114 to move $126million, western union, banks, paypal... try beating that! It cannot be outdone and that is a nice sum of money that just moved Wonder what the occasion is sometimes large amounts move before something big happens That's what I was thinking. Hopefully it isn't being moved to sell. Its moved to BTC-E to buy litecoin before ltc hits coinbase.
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QuestionAuthority
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You lead and I'll watch you walk away.
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June 06, 2014, 11:54:05 PM |
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Surely a bank wouldn't move that amount of money with any costs being incurred?
I'm just pointing out its amazing that we can move vasts amounts of money without any paperwork, to anybody in the world for no costs. If that doesn't convince skeptics then nothing will.
Bank to bank I'm sure they don't charge each other. You and I aren't in the club though, thats why we pay Working in the banking industry, that is not true. The banks take every single opportunity that they can to charge eachother. Really? Then why are my personal interbank transfers free? Does that mean my bank is paying the charges for me? What bank do you work for, if you don't mind me asking? I want to steer clear of them. Please read this for proof: https://secure.montereycu.com/index.cfm?ParentID=1&SubID=3
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OROBTC (OP)
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June 07, 2014, 02:37:28 AM |
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... @ DolanDuck You just gave me the idea for my next blog piece: this block and transaction! I may have questions for experts here on fee structure and other nitty-gritty block details (overages, etc.). Or feel free to email comments of interest (to educate me) re this Block 304517 me at: dochenrollingbearing /at/ g mail daht com DoChenRollingBearing is my moniker at zerohedge.com -- see my comment (third one right after the artcle: http://www.zerohedge.com/news/2014-06-06/one-ton-gold-shipment-hong-kong-revealed-contain-just-worthless-metal). *** OROBTC promises to properly attribute anything that I write from any of you (assuming you want that), you choose your alias.
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twistyfy
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June 07, 2014, 02:56:09 AM |
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... Block 304517 (won by BTC Guild) came in at a (gross) amount of $126,442,364.66 !!I have not seen one that big before. I do know that BTC Guild itself saw nowhere near that amount, but someone made/transferred a lot of money today. I hope they don´t spend it all in one place. Wow!!
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CryptoKilla
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June 07, 2014, 06:33:23 AM |
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... Block 304517 (won by BTC Guild) came in at a (gross) amount of $126,442,364.66 !!I have not seen one that big before. I do know that BTC Guild itself saw nowhere near that amount, but someone made/transferred a lot of money today. I hope they don´t spend it all in one place. It's simply amazing how cheap and easy it is to move around that much money now with bitcoins. Also the fact that is happens relatively instantly is awesome! I wonder how many times the sender re checked the address that the coins were being sent to lol
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mysidia
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June 07, 2014, 06:39:35 AM |
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Unbelievable really, being able to move $126million for 0..
I'd be interested to see how much a bank would charge to do that, and what paperwork would need to be filled in.
IF you have that amount, you can write a check; your payee deposts to the account with their bank, as long as they are in the same country. Sure you can move money. It's if you want to move money internationally, or _fast_ (e.g. Wire transfer) or by getting a special cashier's check, etc, that you incur a fee, or if you want the cash or spend the funds, that you incur extra delays. E.g. after transferring a large sum of money, the funds are likely to be 'held' on the receiving account and unavailable for spending, for a waiting period: attempts to spend without sufficient unheld funds = overdraft = overdraft fees.
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BTC: 1FbuJxZCeJUqrP7EpUkgMKWAmAA1M8gUBd LTC: LbvomgbwKnqk47mWzALCDEoV8ydjxYYYpF
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Phinnaeus Gage
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Bitcoin: An Idea Worth Spending
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June 07, 2014, 06:47:10 AM |
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bryant.coleman
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June 07, 2014, 07:01:06 AM |
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Funds are Bitstamp's cold wallet
Do you have any proof for this? It is very difficult to confirm, as the wallet is not tagged as such in Blockchain.info. But looking at the wallet balance, it definitely belongs to one of the major exchanges.
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e4xit
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June 07, 2014, 09:05:13 AM |
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Surely a bank wouldn't move that amount of money with any costs being incurred?
I'm just pointing out its amazing that we can move vasts amounts of money without any paperwork, to anybody in the world for no costs. If that doesn't convince skeptics then nothing will.
You're right, Bitcoin is great for the little guy to move money for free low cost. Large amounts are moved between branches and banks for free all the time. Think about it a minute, are they going to charge themselves for the move? My bank even lets me transfer between different accounts at different banks without a fee. My bank may charge a fee for faster service but my credit union offers 3-business-day transfers for free. One day costs $2. So, in theory, I could transfer $126,000,000 for $2 and get it in one day. Ha ok, so you don't think that banks charge each other for moving money? Lol You might be able to move $50 between banks for free, but I guarantee that if you ever had 126,000,000 that it would not cost you $2 to transfer. You mad if you think that $2 is a flat fee for any amount.
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Not your keys, not your coins. CoinJoin, always.
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Mikez
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June 07, 2014, 09:20:58 AM |
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Funds are Bitstamp's cold wallet
Any source that can back up this affirmation?
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johnyj
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Beyond Imagination
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June 07, 2014, 02:23:56 PM |
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An exchange withdraw from its cold storage? Since that exposes the public key, they have to move it all to a new address
But I think it is very unprofessional to put all funds in one single cold storage, at least they should separate funds between 4 to 5 different cold storage at different location, so that MTGOX disaster won't happen again
It also means that their coins are getting absorbed quickly, someone is buying a large amount of coins right now
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dabura667
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June 07, 2014, 02:41:33 PM |
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hahaha he got a begging tx and just left it in that address. To the beggar: HA!
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My Tip Address: 1DXcHTJS2DJ3xDoxw22wCt11FeAsgfzdBU
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QuestionAuthority
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You lead and I'll watch you walk away.
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June 07, 2014, 05:30:08 PM Last edit: June 08, 2014, 07:09:51 PM by QuestionAuthority |
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Surely a bank wouldn't move that amount of money with any costs being incurred?
I'm just pointing out its amazing that we can move vasts amounts of money without any paperwork, to anybody in the world for no costs. If that doesn't convince skeptics then nothing will.
You're right, Bitcoin is great for the little guy to move money for free low cost. Large amounts are moved between branches and banks for free all the time. Think about it a minute, are they going to charge themselves for the move? My bank even lets me transfer between different accounts at different banks without a fee. My bank may charge a fee for faster service but my credit union offers 3-business-day transfers for free. One day costs $2. So, in theory, I could transfer $126,000,000 for $2 and get it in one day. Ha ok, so you don't think that banks charge each other for moving money? Lol You might be able to move $50 between banks for free, but I guarantee that if you ever had 126,000,000 that it would not cost you $2 to transfer. You mad if you think that $2 is a flat fee for any amount. You're completely wrong. I provided a link showing I can do it easily from my credit union. I transferred $350,000 from my credit union to a different bank when I bought my last house and it cost me nothing. There are plenty of ways to send money for free. Here's one: https://payments.amazon.com/personal/money?tag=gmgamzn-20Almost no one on earth has $126 million to transfer other than a bank. The bank would only transfer between partner banks and they would not have to pay for the transfer. That was my original point. This large move of btc is nothing more than a large bank internally consolidating funds. That's always free for the bank.
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Cryptopher
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Keep it dense, yeah?
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June 07, 2014, 05:38:43 PM |
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I've seen bigger blocks, but only in terms of fiat value, not in number of coins. It's great how you can openly see all of this in the blockchain, leading to topics and discussions like this.
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Sign up to Revolut and do the Crypto Quiz to earn $15/£14 in DOT
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OROBTC (OP)
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June 08, 2014, 07:01:17 PM |
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... OROBTC would like to thank all of you VERY MUCH for comments on this Block 304517! Especially "Phinnaeus Gage" and "bryant.coleman", who (by chance I'm sure) were mentioned at the below blog article: http://goo.gl/UCS7nSI am sure that the blog author thanks you too, DolanDuck!*** Any errors or clarifications? Post them here!
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Ron~Popeil
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June 08, 2014, 07:06:50 PM |
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I've seen bigger blocks, but only in terms of fiat value, not in number of coins. It's great how you can openly see all of this in the blockchain, leading to topics and discussions like this.
If things go the way we hope we might be able to watch governments move money like this. That kind of transparency provides a lot of protection from corruption.
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Beliathon
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June 09, 2014, 04:30:26 AM |
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Surely a bank wouldn't move that amount of money with any costs being incurred?
I'm just pointing out its amazing that we can move vasts amounts of money without any paperwork, to anybody in the world for no costs. If that doesn't convince skeptics then nothing will.
Bank to bank I'm sure they don't charge each other. You and I aren't in the club though, thats why we pay Bingo.
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Bitcoin Magazine
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June 09, 2014, 05:02:06 AM |
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... Block 304517 (won by BTC Guild) came in at a (gross) amount of $126,442,364.66 !!I have not seen one that big before. I do know that BTC Guild itself saw nowhere near that amount, but someone made/transferred a lot of money today. I hope they don´t spend it all in one place. that amount of money makes me vomit. not cause i want it, but cause it's not enough.. (seriously, what is this fucked up thing going on in my brain).
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i am here.
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Justin00
Legendary
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Merit: 1000
★YoBit.Net★ 350+ Coins Exchange & Dice
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June 09, 2014, 12:32:14 PM |
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probably trendon moving his earnings around :p i joke i joke... we all know its goat just cleaning his wallets heh
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ajareselde
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Activity: 1722
Merit: 1000
Satoshi is rolling in his grave. #bitcoin
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June 09, 2014, 05:09:31 PM |
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why are you so amazed , i just moved it to take a dump save your wifes, save your children ))
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Swordsoffreedom
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Merit: 1115
Leading Crypto Sports Betting & Casino Platform
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June 09, 2014, 09:51:11 PM |
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probably trendon moving his earnings around :p i joke i joke... we all know its goat just cleaning his wallets heh
Now only the people who get who Trendon Shavers was will snicker at that one Still in jail As for the Goat not sure if he ever revealed his Bitcoin addresses but he did make a good lie to reveal KNC never paid for its platinum seat
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jbreher
Legendary
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Activity: 3038
Merit: 1660
lose: unfind ... loose: untight
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June 10, 2014, 12:49:19 AM |
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Now only the people who get who Trendon Shavers was will snicker at that one Still in jail I don't think Shavers' ponzi has ever caused him a trip to jail. Isn't he free at the moment?
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Anyone with a campaign ad in their signature -- for an organization with which they are not otherwise affiliated -- is automatically deducted credibility points.
I've been convicted of heresy. Convicted by a mere known extortionist. Read my Trust for details.
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zhaidixjymj8825
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June 10, 2014, 02:40:16 AM |
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... Block 304517 (won by BTC Guild) came in at a (gross) amount of $126,442,364.66 !!I have not seen one that big before. I do know that BTC Guild itself saw nowhere near that amount, but someone made/transferred a lot of money today. I hope they don´t spend it all in one place. It seems arbitrary to me to point to the block
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shenguajrgpv745
Member
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Activity: 62
Merit: 10
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June 10, 2014, 04:55:39 AM |
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The blocks are the same reward amount (except due to a halving).
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Nawaytes
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June 10, 2014, 09:49:37 AM |
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I've seen manytimes Big block from Ghash.io,
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bitshul
Newbie
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June 10, 2014, 10:28:33 AM |
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If you have any experience of looking at the blockchain, you will see that this is almost certainly a single payment of BTC 10,000, with the balance in the sender's wallet being transferred to a new key (done for security reasons).
So a single payment of less than USD 10,000,000, of the sort that large banks do many times a second all day long, for free or so close to free that the cost can't be measured.
Nothing to see here, move along.
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MICRO
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Merit: 1037
CEO @ Stake.com and Primedice.com
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June 10, 2014, 10:53:03 AM |
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If you have any experience of looking at the blockchain, you will see that this is almost certainly a single payment of BTC 10,000, with the balance in the sender's wallet being transferred to a new key (done for security reasons).
So a single payment of less than USD 10,000,000, of the sort that large banks do many times a second all day long, for free or so close to free that the cost can't be measured.
Nothing to see here, move along.
Actually there is everything to see here. Where did u saw that bank transactions ? And that bank transactions are fake money transactions, they dont have it. In btc its bit different.
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MICRO
Legendary
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Activity: 2464
Merit: 1037
CEO @ Stake.com and Primedice.com
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June 10, 2014, 11:08:58 AM |
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Still they are transferring illusions not theirs own money they don't have that money its all fake. In bitcoin that is different . And transactions will get bigger overtime. Bitcoin is only 5 years old how old are banks ? We are getting there ...
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