Imagine making a typo in the receiving address
Test tx of 0.1 before sending. https://www.blockchain.com/btc/tx/9895f1e94d0df7fd04e1289f34... I usually test with 0.00001
Ah yes, just a cool $1,000 test
94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
361–370 of 747 posts
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#362Earlier quoted context omitted.
How is there any evidence to support this assertion? As far as I've heard there is quite literally not a shred of supporting evidence.
Quite the opposite. If Satoshi is still alive that entity is worth around $10 billion. Incentives are a powerful thing and the fact that Satoshi hasn’t made a transaction in years is strong evidence those keys are lost.
Doesn't sound like evidence. Conjecture at most.
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#363Earlier 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.
Isn't the problem that rich people are better at accessing the "value" of something... i.e. if there is no / limited value then it should be cheap... Is value synonymous with ROI in this case?
"The wilfully idle man, like the wilfully barren woman, has no place in a sane, healthy, vigorous community." -- Theodore Roosevelt
In America, we pretty much all agree that wealth originates in labor. The crucial open question is, 'Whose labor?'
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#364Earlier quoted context omitted.
This is the part which confuses me about Bitcoin the most. It's meant to be anonymous, yet with some diligent data mining, it can become pretty clear who's who from their spending patterns by observing the ledger. How is that remotely anonymous?
Bitcoin enables privacy when used properly, but privacy is not an inherent feature.
In what way does it do that?
Or in other words, what makes that sentence more true than sentences replacing the word Bitcoin with the words phone/email/pigeon carrier/etc?
Genuine question, not rhetorical - I don't really follow bitcoin.
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#365Earlier quoted context omitted.
It's probably the DOJ. They raided BTC-e and stole 2 billion during the Ukraine War. BTC-e was the longest running bitcoin exchange and the single most reliable. I had more money than I'd like to admit stolen from me. Their statement was only people who participate in tax evasion use btc-e.
I hadn't heard about this. Do you have sources about the DOJ theft?
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#366Earlier 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.
The irony is that these "they think they are better than us" type posts always to me read with an implicit but unsaid "but really we are better than them." In reality, people are people, and thinking you're better than others is absolutely not something that the rich have a monopoly on. This attitude is rampant in many groups and underlies much of the current hatefulness in the world.
In average more entitled people are expecting more from the world. this is proven by studies.
It is more like they think they are better than us, and "but really they think they are better than us".
This studies are not even about the super-rich, people with like $50k cars are showing less consideration toward people that they fell are poorer.
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#367Many analysts suspect it's associated with Bakkt, the new yet to launch cryptocurrency exchange created by the NYSE parent.
Bakkt just launched their warehouse today: https://news.u.today/news/bakkt-warehouse-is-now-active-for-..., so the timing makes sense
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#368Earlier quoted context omitted.
> 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…
>The value of bitcoin would fall to basically 0 Yes indeed. There are a number of very interesting game-theoretic feedback loops built into bitcoin that enhance security. This is one of them.
I disagree, because historically major cryptos have allowed known attacks to succeed if they targeted a member of the public at large, and have defended only if they targeted named insiders.
The expectation, at this point, is that defense will only occur if you are an elite insider. An unknown user may or may not be such an elite, and thus may or may not get defense.
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#369I worked in the trading dept of a large hedge fund and this could easily be them, or someone like them. They regularly traded several billion in bonds, currencies and short rates each day and just aren't used to those trades posting publicly (outside the exchange). I can see them seeing this Twitter thread, scratching their head and wondering, "what's the big deal?"
In the fixed income, currency and money markets a billion dollars is not a lot of money -- and yet a billion dollars IS ALWAYS a lot of money.
I used to work on the repo desk of a primary dealer. One role of the repo desk is that it finances the banks position. We might hold $50 billion of bonds, but $40 billion of that is borrowed with the bonds as collateral.
One day because someone had keyed in a start of day position wrong -- off by a billion dollars -- 20 minutes before the FedWire closed for the day, I got to watch 2 traders get on the phones and borrow a billion dollars in 20 minutes, without letting our counterparties know that we were kind of desperate.
Had they failed, the bank would have had to go the the Fed, discount window and borrow $1 billion overnight at the discount rate (which would have been substantially more than we were paying in the repo market.) Additionally, it likely would have triggered process audits and incident reports which would have been far worse than the interest.
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#370Earlier 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.
You'd probably be best served to just go through an investment bank. FX market is relationship driven unlike the stock market. You don't have any of the trading relationships with the huge players in the market, and probably never will. The cost in time and money to participate in these markets vastly outweighs the paltry sum the traders are making on your transaction. Solicit quotes from multiple counterparties, pay attention to the institutional rates, and make sure you aren't getting screwed too badly.