There are what, about ~2,000 billionaires in the world? Of those, I don't believe any of them would hold a billion in BTC. From what I can tell, it has been ruled out that this is from any of the exchanges. Is this a possible nation-state transaction?
94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
321–330 of 747 posts
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#322Well now that I have a place to ask this question... Could someone explain to me about 51% attacks and if bitcoin is vulnerable to one? Hypothetically, a government decides to put forward enough resources to perform a 51% attack on bitcoin. Is that possible? If not, why? And is this something to actually worry about, or could something be done to combat it?
[deleted]
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#323Earlier quoted context omitted.
A couple million dollars is a retirement nest egg. You can stop working, stretch it carefully until you die, and leave a small sum to your heirs. To be very rich requires upwards of $100 million. Then you can access high paying investments which will generate enough income to afford a couple houses, hire help, buy a boat and a plane, and have enough left over after taxes to increase your assets to offset inflation. A…
It doesn't become easier to beat the market when you have more than $100 million. Anyone with a couple $1000 can buy cheap etfs or index funds
Yes but the $100 million guys can afford higher risks with higher returns. The $1000 guys can only play it safe with small returns.
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#324Earlier quoted context omitted.
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!
Eh, when does it really matter? The only time I care about speed is when buying something, and the more expensive that something is, the less fast it needs to be.
If you have a truck waiting to load at a warehouse somewhere waiting for your £200k payment to clear, then yes, the speed really really matters.
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#325Earlier quoted context omitted.
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.
> 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.
There's a whole thread about interpreting the quote debating whether it paints rich people in a positive or negative light, and amazingly nobody focused on the part that says "they think they are better than we are".
Perhaps that's what the HN audience really thinks of rich people and thus skipped that point? Someone thinking they are better than others based on wealth alone is an unmistakable negative in my book.
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#326Хорошо кто-то живет)))
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#327Earlier quoted context omitted.
An important detail is that the quote is not "they are soft and cynical", but rather: "soft where we are hard, and cynical where we are trustful" In other words, how they are different from others. Not that they are fundamentally soft, cynicalm or bad.
How does adding an opposite as “fast where we are slow” specify anything?
It emphasises that the contrast is the thing of interest, rather than the properties themselves.
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#328Earlier quoted context omitted.
A couple million dollars is a retirement nest egg. You can stop working, stretch it carefully until you die, and leave a small sum to your heirs. To be very rich requires upwards of $100 million. Then you can access high paying investments which will generate enough income to afford a couple houses, hire help, buy a boat and a plane, and have enough left over after taxes to increase your assets to offset inflation. A…
It doesn't become easier to beat the market when you have more than $100 million. Anyone with a couple $1000 can buy cheap etfs or index funds
From what I understand, the thing that changes when you have lots of money, is you can act as an investor in individual ventures that are much riskier, but with a much higher potential payoff. If you can drop $1 million without being ruined if it doesn't pan out, you can multiply your money very quickly when things do happen to go your way.
In fact, isn't that basically the entire premise behind all the VC funds that fuel Silicon Valley?
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#329This was probably an internal transfer, but if it was payment to someone, something interesting then occurs. It then becomes valuable for the original owner to secretly mine a chain, attempting a 51% attack. They could run the attack secretly for up to 40 days and still make a profit. So you'd really need to wait 40 days before you can be sure this transfer is safe. But it gets scarier, if at the end of the 40 days a…
Every second, the amount of hashes computed on the Bitcoin network is equal to every grain of sand on earth, multiplied by 7.
There isn't enough computing power available to 51% attack a chain that comes close to justify the $1 billion dollar "bounty" on this transaction.
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#330I'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…
[deleted]