another way to read: someone just gave someone else a billion dollars tax free. that is a major problem.
What?
94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
241–250 of 747 posts
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#242Earlier quoted context omitted.
I can transfer 100k in GBP free too. BACS limit is £250k. Once I exceed that I have to fall to CHAPs which will cost me about £25 and has no limit. Banking is mostly free in the UK.
Bacs limit is £20 million per item but is 3 day clearing. The £250k limit is FPS (instant clearing) I believe, or your bank.
You're correct, sorry. AIUI there's a higher limit for corps/govs too. Banks often have lower limits than these but I've no doubt they'll lift them if there's need.
For those not familiar, FPS offers 2h (normally instant) transaction speed.
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#243As 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…
This post appears to me like two paragraphs of correct and important information, cut in two by a seemingly unrelated quote that summarizes to nothing more than "rich people are evil". People with greater wealth having access to certain services and procedures that normal people don't is unrelated to all rich people supposedly looking down on everyone else.
>This post appears to me like two paragraphs of correct and important information, cut in two by a seemingly unrelated quote that summarizes to nothing more than "rich people are evil".
Which is nonetheless both pertinent and important to keep in mind.
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#244Earlier quoted context omitted.
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. :/
People do this all the time, and it's not expensive at all. You can do wire transfers of hundreds of thousands of dollars for a $20 fee. You can get certified checks from your bank for large amounts for free.
you can wire billions for a 20$ (or less) fee.
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#245Earlier quoted context omitted.
A rich person would read that quote and summarize it as "rich people are good". So really GP is just outing his or herself as not rich.
Rich people would consider being soft and cynical as virtuous? There's no way to read the quote in a positive manner.
Of course there is: soft => more refined and subtle, cynical => more wise to the world.
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#246From the top twitter comment: > 0.06BTC in fees? Why so expensive? Just gotta say, its pretty amazing we live in a world where 1 billion dollars can get transferred pseudo-anonymously in a reasonable time frame, only costing the transfer party $600. As a really stupid, non-real-world comparison, Western Union has a transfer limit of $2500 per transaction, and a $20 fee per transaction. If you were to initiate a $1,00…
They overpaid big time, fees of approximately $33 would've been sufficient for the transaction to confirm just as fast.
do they have to pay anything? or let's assume they just want to pay $1, and they don't care about how long it takes. would it eventually happen?
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#247Earlier quoted context omitted.
> a ... quote that summarizes to nothing more than "rich people are evil" But that isn't at all what the quote says, that's what you attributed to it.
A rich person would read that quote and summarize it as "rich people are good". So really GP is just outing his or herself as not rich.
I'm an expat and read the quote as ~"rich people are foreign".
Having different values from "you and me" doesn't make people evil.
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#248I'm mostly puzzled by the fact that someone would let $1 billion sit in a wallet without earning interest...
I turned USD$1 worth of BTC purchased in 2010 into a >$100,000 Tesla in late 2017.
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#249Earlier 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.
It is not 'just you', but it does peg you as being part of a tiny part of the population that can hold these beliefs.
For the very very vast majority 100K in liquid funds would be a fortune they could never imagine acquiring outside of a huge lottery windfall.
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#250Earlier quoted context omitted.
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.
If you only know person worth $2 million, they're rich. If you know 10 millionaires, the person with $2 mil might not seem so rich to you anymore.
The United States farm real estate value, a measurement of the value of all land and buildings on farms, averaged $3,140 per acre
While the average farm size has been increasing approximately two acres per farm each year since 2012, the number of farms is decreasing. Today, the average farm size is 444 acres.
444*3140 1,394,160
US average farmer is a millionaire. Go ask one if he feels rich.