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

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

#301

Post by theWheez »

logicallee wrote: post #140

wow. So if someone has looked, could you summarize the history of the sending address? (When did it have transactions, etc.) Also, if someone wanted to turn this into fiat currency over a short but not instant period of time (such as 1 month for example), could they get close to 1,018,147,922 USD or even over 30 days would that diminish the price too much? (I am thinking for example if an institutional investor early…

It looks like this twitter account is trying to do just that

https://twitter.com/thetokenanalyst/status/11699297386071244...

I am not an expert and this is a very rough estimate, but this data[0] shows 7-day rolling USD trading volume on major exchanges. It's pretty volatile but fluctuates from $300m to $110m daily.

I would guess that this is liquid enough to be able to pull out $1b+ over 30 days, perhaps drawing some attention. This is also only for USD. Would love to hear an expert's thoughts as well.

[0]: https://www.blockchain.com/en/charts/trade-volume?timespan=6...

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

#302

Post by Stevvo »

hn_throwaway_99 wrote: post #188
aazaa wrote: post #111

I'd take issue on two points. First, "wallets' don't exist in the Bitcoin protocol. Second, the tool being used is not sophisticated enough to list the inputs and outputs, giving the false impression that something unusual is "unknown." Try this link to get details: https://blockstream.info/tx/4410c8d14ff9f87ceeed1d65cb58e7c7... There are numerous inputs and a single pay-to-script-hash (P2SH) output. The relatively h…

> It effectively establishes a billion dollar bounty for any party who can rewrite enough blocks to erase it. I don't really agree with that statement. Yes, someone could mount a 51% attack to rewrite that block. However, it would be pretty straightforward to see what was happening (and which nodes were the malicious actors). If that did happen, the possible outcomes would be: 1. The value of bitcoin would fall to ba…

You assume the value of bitcoin is somewhat logical, the Etc 51% attack proves otherwise; in the short term holders would rather sustain the delusion.

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

#304

Post by filoleg »

tudelo wrote: post #273
merpnderp wrote: post #150

Earlier quoted context omitted.

My grandfather was similar. Died a millionaire while never making more than $30k/year. He just paid for things in cash and made sure to always invest. The only luxury he ever spent was on my grandmothers car. Everything else was on a budget and cheap as could be.

I feel like a life void of luxury is... not preferable.

Just like most things in life, I feel like it is all about the right balance.

Penny pinching and then dying a millionaire sounds awful, because what's even the point of having all those millions if you lived like you had nothing the whole time? Just a number on some imaginary scorecard?

Wasting away all your earnings and living a life of "luxury" with nothing in your savings is at least just as bad, because if something catastrophic happens, you got nothing.

Gotta strike that happy balance, where you get to enjoy the money, yet still have a substantial chunk of it saved.

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

#305

Post by yitchelle »

airstrike wrote: post #84

I'm mostly puzzled by the fact that someone would let $1 billion sit in a wallet without earning interest...

It's comes down to perspective. If this individual or company has $1000 billion in an investment, $1 billion is just chump change.

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

#307

Post by geggam »

tudelo wrote: post #270
geggam wrote: post #250

Earlier quoted context omitted.

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.

Do most farmers actually own the land that they work on? I was under the impression that most farming is done by large companies and that there are not many small independent farmers that exist.

When I was working on farms ( 30 yrs ago ) most farmers were still on property they owned. During that time I saw the shift to corporate farms and I dont know that answer as I have found less labor intensive work.

Most of the corporate structures I saw were family or a combination of family and friends.

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

#308

Post by Ambele »

hobofan wrote: post #116
Ambele wrote: post #94

Earlier quoted context omitted.

Bitcoin can be anonymous though in certain use-cases. You can create a new bitcoin public/private key pair on a computer that has never (and will never) touched the internet. Once you send the coins from an address to this new address, the network will now know the IP address of the sender, but it won't know anything about the unknown recipient.

It knows that in some way/shape/form the old address is associated with the new address, so most likely it is the same entity, or a transaction partner. Bitcoin is not supposed to be anonymous, and very unsuitable for use-cases where you want any kind of anonymity guarantee.

>Bitcoin is not supposed to be anonymous

But it can be used anonymously and probably in some industries is still used anonymously. A counterparty that is willing to swap anonymously acquired and sent altcoins for Bitcoin can provide a privacy conscious individual with anonymous Bitcoins.

If using proxy-chains, Tor, or a real person in another country to broadcast your trade isn't your cup-of-tea because you don't trust them, there is still another less practical way. If you secretly give someone your Bitcoin private key (for example: written on a small piece of paper), you can give or trade those Bitcoins to someone without the network knowing about the transaction.

>so most likely it is the same entity, or a transaction partner.

Conceivably, the transaction could be broadcasted from an important individual's hacked phone or computer without a trace. This is where being innocent until proven guilty becomes important.

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

#309

Post by jchook »

ijpoijpoihpiuoh wrote: post #232
donalhunt wrote: post #120

Earlier 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.

Not if you care about the government getting some of it

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

#310

Post by blibble »

xvilka wrote: post #297
AdamGibbins wrote: post #242

Earlier quoted context omitted.

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.

Having bank transfers in 2019 so slow is outrageous. It's the time when trading bots produce millions in a split second. But bank transactions require hours and days. And they dare to call them fast!

the orders might only take a few ms from creation to execution, but the settlement still takes time (hours to days)
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