Bitcoin Forum
December 05, 2016, 04:48:59 PM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: 570830.34 of btc was traded today or 1.2MM usd  (Read 1630 times)
mcdett
Full Member
***
Offline Offline

Activity: 157



View Profile
April 29, 2011, 03:35:40 AM
 #1

Here --> http://blockexplorer.com/block/0000000000004fab39c441bbd50cdbaeeec7b43d564f1c97d487fcd94bacd2c6

570830.34 of btc was traded today in the above mentioned block.  That represents 1.2MM usd (based on mtgox low trade price for the time).  In one block 1.2MM dollars was transferred.  This is getting serious.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480956539
Hero Member
*
Offline Offline

Posts: 1480956539

View Profile Personal Message (Offline)

Ignore
1480956539
Reply with quote  #2

1480956539
Report to moderator
1480956539
Hero Member
*
Offline Offline

Posts: 1480956539

View Profile Personal Message (Offline)

Ignore
1480956539
Reply with quote  #2

1480956539
Report to moderator
xf2_org
Member
**
Offline Offline

Activity: 70


View Profile
April 29, 2011, 03:48:30 AM
 #2

Here --> http://blockexplorer.com/block/0000000000004fab39c441bbd50cdbaeeec7b43d564f1c97d487fcd94bacd2c6

570830.34 of btc was traded today in the above mentioned block.  That represents 1.2MM usd (based on mtgox low trade price for the time).  In one block 1.2MM dollars was transferred.  This is getting serious.

Not quite correct.  Trading occurs on an exchange, and does not typically show up in the block chain immediately.

In the block you reference, one person sent 84k or 164k (you cannot know which is the change TX, sent back to one's self).

Two 10k chunks were then peeled off that 164k chunk.

570k is simply a dumb total of the BTC in the block, including all change transactions sent back to yourself.  A "true" total would probably be closer to 200k, and even then, you cannot know if someone isn't simply sending change to another wallet of their own.

Background:  Every time you sent bitcoins from person A to person B, let's say 100 BTC, bitcoin software finds a "coin" of at least 100 BTC.  If it cannot find a coin of exactly 100 BTC in size, it takes a larger coin and splits the coin into two pieces.  If person A only has a 1000 BTC coin, then http://blockexplorer.com/ will show a transaction with two outputs:  100 BTC (spend) and 900 BTC (change).  The latter 900 BTC is sent from yourself, to yourself.

mcdett
Full Member
***
Offline Offline

Activity: 157



View Profile
April 29, 2011, 03:53:06 AM
 #3


570k is simply a dumb total of the BTC in the block.  A "true" total would probably be closer to 200k, and even then, you cannot know if someone isn't simply sending change to another wallet of their own.


200k of btc is still (at mtgox low price at the time of 2.33 usd) still is a possible 466k of usd.
theymos
Administrator
Legendary
*
Offline Offline

Activity: 2492


View Profile
April 29, 2011, 03:57:55 AM
 #4

In only 11 kB, too!

1NXYoJ5xU91Jp83XfVMHwwTUyZFK64BoAD
FreeMoney
Legendary
*
Offline Offline

Activity: 1246


Strength in numbers


View Profile WWW
April 29, 2011, 05:10:12 AM
 #5

In only 11 kB, too!

Amazing density.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
jatajuta
Sr. Member
****
Offline Offline

Activity: 365



View Profile
June 05, 2011, 12:08:37 PM
 #6

In only 11 kB, too!

Now i understand Bill Gate's famous quote "64KB is more than enough for anyone."

Sure it is  Cheesy

SomeoneWeird
Hero Member
*****
Offline Offline

Activity: 700


View Profile
June 05, 2011, 12:18:46 PM
 #7

In only 11 kB, too!

Now i understand Bill Gate's famous quote "64KB is more than enough for anyone."

Sure it is  Cheesy



hahahaha +1
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!