The largest unknown Bitcoin wallet moved nearly $1B for $0.48 in fees • Hacker News Board

Re: The largest unknown Bitcoin wallet moved nearly $1B for $0.48 in fees

#11

Post by jessicauk » Tue, Jun 30, 2020, 1:48 PM UTC

tobyhinloopen wrote: post #8

antidaily wrote: post #6

Earlier quoted context omitted.

$0.48?

I think he made a interest joke, yeah

I wasn't interested in that (badum-cha!)

Re: The largest unknown Bitcoin wallet moved nearly $1B for $0.48 in fees

#12

Post by Ansil849 » Tue, Jun 30, 2020, 1:48 PM UTC

For all of the talk about how Bitcoin is not truly anonymous, this wallet demonstrates otherwise, with the apparent 'anonymity proviso' being that you don't do too much with it, and just let the coins sit.

Re: The largest unknown Bitcoin wallet moved nearly $1B for $0.48 in fees

#13

Post by ravingraven » Tue, Jun 30, 2020, 1:53 PM UTC

bouk wrote: post #4

SEPA transfers are free :)

They certainly are not. Not between countries (even if they are EU countries and both use the Euro) and not for 1 billion Euros/Dollars.

Edit: A lot of people here are saying "I do not pay for it so it is free". Just because you don't pay does not mean it is free for everyone. The law just states that fees must be the same for domestic and EU transfers, not that the transfer is free and, there are countless examples of regions where there are no banks that charge nothing (especially regions where a lot of intra-EU immigrants come from).

Re: The largest unknown Bitcoin wallet moved nearly $1B for $0.48 in fees

#14

Post by minikites » Tue, Jun 30, 2020, 1:54 PM UTC

Ansil849 wrote: post #12

For all of the talk about how Bitcoin is not truly anonymous, this wallet demonstrates otherwise, with the apparent 'anonymity proviso' being that you don't do too much with it, and just let the coins sit.

I can also be anonymous if I never speak or leave my house, but that's not really how it works, is it?

Re: The largest unknown Bitcoin wallet moved nearly $1B for $0.48 in fees

#15

Post by bronzeage » Tue, Jun 30, 2020, 2:01 PM UTC

Taking an educated guess here, that the miner of the block which moved that transaction must be related to the owner of that wallet. Nobody would otherwise accept such a low fee for a big transaction. Find the miner, you find the wallet owner.

Re: The largest unknown Bitcoin wallet moved nearly $1B for $0.48 in fees

#16

Post by jpkoning » Tue, Jun 30, 2020, 2:02 PM UTC

If we both join the bitcoin network, we can exchange $1B for $0.48.

If we both join set up accounts at a regular bank like RBC, we can exchange $1B for free.

The point I'm making is that fees are not bitcoin's strong point. Any financial network can undercut it. What is unique about bitcoin is that not everyone can get an account at RBC, but anyone can join the more expensive bitcoin network.

Re: The largest unknown Bitcoin wallet moved nearly $1B for $0.48 in fees

#17

Post by seibelj » Tue, Jun 30, 2020, 2:02 PM UTC

bouk wrote: post #4

SEPA transfers are free :)

It is interesting you think that $1 billion could be transferred in that system (pseudo)anonymously, at any time of day or night, for 48 cents... if something that size could be done at all.

Re: The largest unknown Bitcoin wallet moved nearly $1B for $0.48 in fees

#18

Post by thekyle » Tue, Jun 30, 2020, 2:03 PM UTC

SRTP wrote: post #10

gitgud wrote: post #3

Are these Satoshi's Bitcoins?

No. We have a rough idea of which coins belong to Satoshi, based on when and how they were mined. Satoshi's coins are continuously monitored and have never moved.

I always imagined that Satoshi probably lost the private keys to those early wallets.

Re: The largest unknown Bitcoin wallet moved nearly $1B for $0.48 in fees

#19

Post by stevespang » Tue, Jun 30, 2020, 2:07 PM UTC

Drug cartel or proxy controlled by an exchange.

Re: The largest unknown Bitcoin wallet moved nearly $1B for $0.48 in fees

#20

Post by theelous3 » Tue, Jun 30, 2020, 2:08 PM UTC

ravingraven wrote: post #13

bouk wrote: post #4

SEPA transfers are free :)

They certainly are not. Not between countries (even if they are EU countries and both use the Euro) and not for 1 billion Euros/Dollars. Edit: A lot of people here are saying "I do not pay for it so it is free". Just because you don't pay does not mean it is free for everyone . The law just states that fees must be the same for domestic and EU transfers, not that the transfer is free and, there are countless examples…

They certainly are, just not for 1b.