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

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

#131

Post by ipython »

whb07 wrote: post #51
ipython wrote: post #39

Unpopular opinion: why do we care so much about making it cheaper for rich people to move money around? Do we think somehow that will “trickle down” to us mere mortals and put western union and their ilk out of business?

because the poor people can't move $10 around without paying $3 for it. Have you ever tried moving small amounts of money in poor countries ?

That’s my point, however you said it clearer than I did. I don’t see how bitcoin making it easy for billionaires to move money equates to poor people being able to use it to move $10.

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

#132

Post by proGHN2020 »

chinesempire wrote: post #64
minikites wrote: post #14

Earlier quoted context omitted.

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

No, you can't. Your house has to be registered to someone and you have to declare who lives in it, if it's yours. Anonymity is not about being a private person.

Professional gangsters don't register their house in their own name. They're happy with a girlfrield, or 'similar,' and just use their apartment and travel all over the world uninhinged. All cars and apartments etc are usually registered in someone else's name. Someone """"legit"""""", so to speak, apart from the affiliation.

If you have tons of illegal money it's not the worst thing to live in a ~~ 'moldy' apartment and eat SCSI every day and know that you _really_ have a __ton__ ___of___ ____money____

Learn to be a criminal, theoretically of course

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

#133

Post by flyGuyOnTheSly »

Drip33 wrote: post #111
pjc50 wrote: post #81

Earlier quoted context omitted.

And yet it happens - as does putting the value in the "fee" box!

I've never heard of someone successfully and unintentionally fat fingering a Bitcoin address typo to a valid Bitcoin address nobody owns. Fee box is a different thing, the recent $2.5m ETH headline you saw was not an accident but an attack/blackmail. Bitcoin core itself prevents you from using too high of a fee without an express override in the config.

Source on the $2.5m fee being related to attack/blackmail?

I just looked it up but I couldn't find anything saying as much... only that sparkpool kept it aside in case the owner comes forward?

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

#134

Post by anm89 »

ipython wrote: post #39

Unpopular opinion: why do we care so much about making it cheaper for rich people to move money around? Do we think somehow that will “trickle down” to us mere mortals and put western union and their ilk out of business?

No one cares if you care. They care.

So stop caring and move on to whatever it is you want to do with your life.

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

#135

Post by mindcandy »

ipython wrote: post #39

Unpopular opinion: why do we care so much about making it cheaper for rich people to move money around? Do we think somehow that will “trickle down” to us mere mortals and put western union and their ilk out of business?

Remittances are one of the big, obvious use cases where crypto can save poor people a ton of money. To the tune of a collective $40-50 billion a year. https://academy.binance.com/blockchain/blockchain-use-cases-...

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

#136

Post by Craighead »

as300 wrote: post #106
_jal wrote: post #72

Earlier quoted context omitted.

Even more unpopular opinion: humans should be as free as capital. Making capital transfers easy while restricting the movement of real people ghettoizes and traps people for corporate convenience and cost savings.

Calling nationalities and cultures that arise from a group of people being forced to live together a "ghettoization" is a bit of a stretch

Not really, in fact, thats almost the exact dictionary definition.

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

#137

Post by electricviolet »

compiler-guy wrote: post #114
rudolph9 wrote: post #65

Earlier quoted context omitted.

It’s not useful for small payments but I would happily take the equivalent $1k+ in bitcoin as payment.

“The difference between one million dollars and a billion dollars is about one billion dollars.“ 1k transactions and even 1k * 1k transactions are so small relative to this amount that the GP’s point still stands. This is not a very useful way of storing the value.

you've got a typo there, one of your millions should say billion

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

#138

Post by hocuspocus »

ravingraven wrote: post #104
hocuspocus wrote: post #79

Earlier quoted context omitted.

So the receiving bank applies a fee, but the fact it's in Greece has nothing to do with anything. Don't do business with crappy banks. Plenty of people regularly do cross-border SEPA transfers for free. I do, and I'm not even in the EU/Eurozone.

All banks in Greece charge a fee. The fact that plenty of people do SEPA transfers for free means nothing for the other people (e.g. the whole population of Greece) that can not do SEPA transfers for free.

So don't do business with Greek banks?

What stops you from doing day-to-day banking in Greece using a German account? That's kinda the whole point of the Euro.

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

#139

Post by anm89 »

_jal wrote: post #72
ipython wrote: post #39

Unpopular opinion: why do we care so much about making it cheaper for rich people to move money around? Do we think somehow that will “trickle down” to us mere mortals and put western union and their ilk out of business?

Even more unpopular opinion: humans should be as free as capital. Making capital transfers easy while restricting the movement of real people ghettoizes and traps people for corporate convenience and cost savings.

Every time you read an opinion regarding financial markets that mentions abstractly how something "should" be. You can know to disregard that opinion.

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

#140

Post by ajkdhcb2 »

as300 wrote: post #110
hlasdjlfhalwjk wrote: post #26

Earlier quoted context omitted.

Bitcoin is pseudonymous. Every member can be uniquely identified but if you are careful not to link your pseudonym (e.g. wallet address) to any personally identifiable information, nobody else can. But this is really hard when it is about money since in general you'd want to spend that money an that's where the link appears. As long as you don't spend the money, there is no information to link.

There are ways around this problem. See: https://local bitcoins.com Doesn't completely de-anonymize you but it does reduce the set of people who have uniquely identifiable information to 1

That site requires identification. So the owner of the coins is known by everyone with the dataset (which that will be shared with chain analysis companies), as well as the website owners and the trader you trade with. Pretty big set
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