OROBTC (OP)
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Activity: 2912
Merit: 1852
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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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Transactions must be included in a block to be properly completed. When you send a transaction, it is broadcast to miners. Miners can then optionally include it in their next blocks. Miners will be more inclined to include your transaction if it has a higher transaction fee.
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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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Activity: 4298
Merit: 3214
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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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PGP Fingerprint: 6B6BC26599EC24EF7E29A405EAF050539D0B2925 Signing address: 13GAVJo8YaAuenj6keiEykwxWUZ7jMoSLt
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cr1776
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Activity: 4032
Merit: 1299
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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
Donator
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Activity: 3542
Merit: 3411
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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Activity: 2912
Merit: 1852
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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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Activity: 4214
Merit: 4465
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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! |
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
Legendary
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Activity: 1578
Merit: 1000
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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Activity: 2156
Merit: 1393
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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Activity: 1578
Merit: 1000
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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Activity: 2576
Merit: 1087
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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  |
"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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Activity: 2156
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You lead and I'll watch you walk away.
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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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Activity: 1512
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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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QuestionAuthority
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You lead and I'll watch you walk away.
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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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