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

Post by sweeneyrod » Tue, Sep 10, 2019, 1:19 PM UTC

jonknee wrote: post #49

farisjarrah wrote: post #25

From 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…

Do you really think people use 400,000 transactions costing $20 apiece to move large amounts of money? If you keep a billion dollars in a bank account (!) you can simply call your private banker and have it done with no fee.

Post by tossAfterUsing » Tue, Sep 10, 2019, 1:19 PM UTC

scottlocklin wrote: post #592

jefftk wrote: post #575

Earlier quoted context omitted.

> the multisig thing that happened to Gav Wood I wasn't sure what you were referring to, but it looks like maybe https://cointelegraph.com/news/parity-multisig-wallet-hacked...

Yep, that's the one. The astounding, insane decision to use "libraries" aka delegate call in any immutable smart contract always boggled my mind. The amount of space saved is so ludicrously small as to beggar belief. Hope the 10k or whatever worth of space savings (about 20 transactions worth) was worth it. Anyway, he didn't get a roll back, and the $200m in value that disappeared didn't either.

Post by cptskippy » Tue, Sep 10, 2019, 1:27 PM UTC

hisham_hm wrote: post #325

cptskippy wrote: post #185

Earlier 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.

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.

Post by rolltiide » Tue, Sep 10, 2019, 1:30 PM UTC

flyGuyOnTheSly wrote: post #561

Imagine how much money you could make by creating a bogeyman bitcoin wallet! Step 1, Consolidate 94,000 BTC into one single address the entire crypto world is now watching. Step 2, Send 1,000 BTC from bogeyman bitcoin wallet to exchange crypto wallet. Step 3, Freak the shit out of the market. Promptly sell the entire lot in one single market sell order. Meanwhile you've got another 50,000 BTC or whatever sitting on c…

Post by hutzlibu » Tue, Sep 10, 2019, 1:46 PM UTC

rolltiide wrote: post #674

hutzlibu wrote: post #669

Ok, slightly offtopic and rant, but: My main problem with Bitcoin, etc. is: it is just too complicated. I mean, I did study CS and do have some knowledge about math and cryptography and I followed Bitcoin from the beginning with curiosity - and I still only have a vague understanding of it all. Now sure, I could invest some days and really study it and things would probably look different. But if it is hard for me, h…

https://hackernoon.com/everything-wrong-with-bitcoin-in-2019... 7,000 words but might help you with the current state of things and why its confusing