94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet

Post by trenning » Mon, Sep 09, 2019, 5:58 PM UTC

hurrdurr2 wrote: post #115

umvi wrote: post #109

Earlier quoted context omitted.

I found out that my grandfather was a multimillionaire later in life as well, but I would never have guessed because he lives in an inconspicuous house in a middle class neighborhood and drives an inconspicuous car (Honda CR-V). He complains about milk and gas prices like most people and basically just doesn't telegraph his wealth at all (except by buying exclusively Wheaties as his breakfast cereal). He grew up duri…

Maybe this is just me, but I don't actually consider having a couple million dollars as "rich", I know a couple folks worth hundreds of millions, and the way they behave are certainly different.

Post by hirsin » Mon, Sep 09, 2019, 5:58 PM UTC

umvi wrote: post #109

mlindner wrote: post #90

Earlier quoted context omitted.

Important qualifier on that that's missed for most "the very rich". The "rich" are often quite penny pinchers. My grandfather is "rich" (several millions, and in a very cheap place to live in the midwest) but he lived his entire life being extremely strict on spending and controlled personal finances very carefully. He still complains when there's large money to be spent on something that should be cheap.

I found out that my grandfather was a multimillionaire later in life as well, but I would never have guessed because he lives in an inconspicuous house in a middle class neighborhood and drives an inconspicuous car (Honda CR-V). He complains about milk and gas prices like most people and basically just doesn't telegraph his wealth at all (except by buying exclusively Wheaties as his breakfast cereal). He grew up duri…

Post by ColanR » Mon, Sep 09, 2019, 5:58 PM UTC

mlindner wrote: post #90

compiler-guy wrote: post #81

As far as the fees being so cheap, and every one else guessing about how expensive it would be to do it in a normal banking situation, F. Scott Fitzgerald is relevant: "Let me tell you about the very rich. They are different from you and me. They possess and enjoy early, and it does something to them, makes them soft where we are hard, and cynical where we are trustful, in a way that, unless you were born rich, it is…

Important qualifier on that that's missed for most "the very rich". The "rich" are often quite penny pinchers. My grandfather is "rich" (several millions, and in a very cheap place to live in the midwest) but he lived his entire life being extremely strict on spending and controlled personal finances very carefully. He still complains when there's large money to be spent on something that should be cheap.

Post by mikepurvis » Mon, Sep 09, 2019, 5:59 PM UTC

arcticbull wrote: post #83

pavlov wrote: post #58

Earlier quoted context omitted.

International wire transfers between USD accounts usually cost about $25 regardless of the amount. There's a lot of dollars moving around in the global financial system quickly and affordably, Bitcoin advocates just don't seem to know about it for some reason.

International wires are a bad example because they charge a huge FOREX spread. For a high-ticket transfer, you'd need to use a brokerage for the exchange first, which is also very cheap, but a bit more than $25 ($20 per million at InteractiveBrokers). Then a very cheap domestic wire for the last mile. Or, for small-ticket transfer TransferWise is around 0.85% for the whole exchange.

Post by Macha » Mon, Sep 09, 2019, 5:59 PM UTC

donalhunt wrote: post #120

isostatic wrote: post #99

Earlier quoted context omitted.

> how expensive it would be to do it in a normal banking situation No idea about the billionaires, but I can shift £5k from a current account to another current account with another bank for the princely sum of £0.00

Try doing 100K in EUR/USD/GBP... It's likely not free (but probably not outrageous either)... Last time I did something like that the transaction cost was small ( On the flip side, I saw a payment go through for one our suppliers today. $50 invoice. > $25 processing fee because it was a european bank processing a USD transaction. :/