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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

#301

Earlier quoted context omitted.

Just wanted to second this. I ran several public Linux servers at a major university. China and Russia based IPs we’re constantly trying to brute force all of our servers. It got the point where we would just apply a geoblock just in case one finally managed to get through. I’m all for avoiding nationalistic dog whistles when discussing things, but both China and Russia have rightfully earned their places as bad acto…

Change your statement to read “black” instead of Chinese and see if you still think it’s OK. The crime is hacking, and your attempts to “expose” Chinese hackers is more like an agenda to prejudice Chinese even if statistically many Chinese-originated traffic is attempting to hack you. In the chance that the hacking is actually caused by American hackers routing their traffic through China, then what purpose does your…

The implication isn't that being Chinese makes one likely to be a hacker. It's the other way around. It's that being a hacker makes it unusually likely that you're Chinese (or Russian). Similarly, being a Nigerian doesn't make you an email scammer, but being an email scammer makes you unusually likely to be Nigerian. Being a drug lord makes you unusually likely to be Mexican.

These are archetypes, i.e. popularly associated examples of particular actions. But I'm not sure if they're full-blown stereotypes, where they get over-applied to members of that group. People don't believe that all Chinese and Russians are hackers, that all Nigerians are email scammers, that all Mexicans are drug overlords, etc.

Stereotypes tend to be more insidious. Many people (in America) do believe that Blacks and Mexicans are criminals, that Chinese are great at math, etc., to the degree that it changes how they actually treat people. So I think these are much worse and shouldn't be equated.

That said, despite the above analysis, I can see how being Chinese you would still cringe when you see the phrase "Chinese hacker" being used casually. I'm an ethnic minority and have felt similarly in similar situations.

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

#302

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.

Bitcoins main feature isn't being anonymous and also the wallet is more likely an exchange wallet than some random billionaire's. There's privacy coins that heavily lean towards achieving anonymity. But I mean if I had a billion dollars and I wanted to have it in Bitcoin, there's nothing stopping me from having one hundred million Bitcoin wallets each with $10. If performed properly, I think that would sufficiently obfuscate my identity until I had to liquidate them.

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

#303

Earlier quoted context omitted.

> First of all, you are not allowed to have a German account if you are not a resident of Germany. Of course you are! Have you never heard of N26? And even some traditional banks will happily have you as a non-resident customer.

Direktbanken (i.e. purely online Banks) are an exception but they come with their own set of asterisks and are not a blanket solution as you can't open an account from all European countries.

There is no such exception. Banks are free to do business with whomever they wish. Direktbanken are usually probably the hardest to open an account with if you are a resident abroad.

Deutsche Bank is well known for offering accounts to non-residents. Pretty much any Sparkasse will open an account for you if you walk in even without a German address.

The list of banks that don't offer accounts to non-residents is probably shorter than the other. Granted, these are mostly the ones with the best offers.

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

#304

Earlier quoted context omitted.

> Chinese is a nationality, not a race, This isn't really true on it's own, and besides, isn't even a good faith interpretation. In an America where rural Asian-ethnicity people are facing discrimination because of covid being called "Chinese Virus," I think it's bold to claim that the concept of China as a country and Chinese as a racial heritage are not conflated.

> This isn't really true on it's own How is this not true? Genuinely curious. > In an America where rural Asian-ethnicity people are facing discrimination because of covid being called "Chinese Virus…" That's because of the specific context of who is saying "Chinese Virus," who their audience is, and why they're saying it. This context is different. Nobody on Hacker News who encounters the phrase "Chinese hacker" is…

> How is this not true? Genuinely curious.

I'd delve deeper beyond my comment because there's a lot of reasons I'm not the greatest source, not the least of which I'm just some white american dude with a comically terrible grasp of ONE dialect/language of Chinese and a wikipedia sourced knowledge of Chinese history.

Here's my understanding: Chinese can refer to many things that have their origin in what we call Mainland China these days. Chinese Language. Chinese History. Chinese Food. Chinese territory. Chinese government. Chinese people (citizens). Chinese people (ethnicity). The word is super-descriptive in that way, because that region, for three thousand years, was "homogenous" in a convenient way for propagandists and the history writers throughout time.

But if you delve in, you can see that it's truly absurd to refer to anything as Chinese. Chinese language - well, sure, Mandarin, right? But only because the seat of government is in Beijing, and it just picked that flavor. Nearly every city in the borders of the PRC have their own distinct dialect, or straight up separate language. The written system was invented in the 1950s based off a historical system that didn't just write Chinese, it wrote Vietnamese, Korean, Japanese, and also every language in between (Guangzhounese aka Cantonese, Shanghainese, Japanese sub-languages, etc). Which is "Chinese writing?" Which language is "Chinese language?" And what about when the Huns were around? What about when the Mongolians ruled it all? Was that "Chinese?" (a PRC censor would say ABSOLUTELY NOT and probably say you were treasonous to the harmony of Chinese culture for even suggesting it).

Chinese food - different in every city.

Chinese government - which one, the Democratic one that is seated in Taiwan, or the Autocratic one seated in Beijing? Or the City State of Hong Kong? Or the dead kingdoms?

I'm trying to indicate here why trying to say "Chinese is a nationality, not race" is a silly thing to say when Chinese can mean so many things that so say it's "not" something is a hard thing to prove. On top of all this, walk up to your average American and say "Chinese" and these subtleties are completely lost - EVERYONE knows what you mean by Chinese, well, it's Orange Chicken and Communism! That's what the American education system teaches us, after all, or at least, what it taught me growing up in rural America.

Ask Chinese people, or Taiwanese people (which I have done), what it means to be a Chinese person, and you'll likely get a very careful separation of the concept of Chinese person from the PRC. Many Taiwanese people would consider themselves Chinese if they had the opportunity to ensure the distinction was being made that this didn't mean they were pro-Beijing, simply that their history and culture shared or was identical to many people that happened to be born in Beijing.

> Nobody on Hacker News who encounters the phrase "Chinese hacker" is going to suddenly start discriminating against Chinese people,

Yesterday there was a thread about the experience of Black programmers in tech and I got into some discussions there that have destroyed my ability to believe in a sentence like this. There are avowed racists on this site. I went through the history of one who danced the blade well enough to occasionally fire off comments about how African people are genetically predisposed to lower IQ, without getting flagged/banned. This is a website like any other, a good one with better rules and moderation, yes, but an internet breeding ground anyway.

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

#305
post #150

Pretty sure the fund I work for moved several billion dollars for free on Friday...and will do the same thing again this Friday, the Friday after that, and the Friday after that. Cryptocurrency's obsession with fees is baffling. Fees are not why moving money is hard.

Whats worse is Bitcoin's security depends on high fees, but you have articles like this celebrating low fees. Satoshi intended for bitcoin to scale to hundreds of millions of transactions, all paying sub cent fees. All those fees would add up to millions of dollars per day. The fees are what secure the chain when the block reward runs out. Around 2014/2015 some devs who worked with blockstream started campaigning to…

You and Satoshi go way back I take it?

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

#306

I don't want to sound like a narc, but it seems like a really good idea to have some degree of oversight and safeguards on financial transactions of that magnitude.

There is oversight, with a high degree of certainty only the holder of the corresponding private key to which funds were transferred is able to make transactions with allocated amounts.

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

#307
post #270

Earlier quoted context omitted.

Just wanted to second this. I ran several public Linux servers at a major university. China and Russia based IPs we’re constantly trying to brute force all of our servers. It got the point where we would just apply a geoblock just in case one finally managed to get through. I’m all for avoiding nationalistic dog whistles when discussing things, but both China and Russia have rightfully earned their places as bad acto…

It adds no information or value to the discussion by giving the hackers a nationality. If there was a statistic that the majority of hackers wore hoodies, would we be calling that out and saying "Attacked by hackers in hoodies?" Obviously not because their clothing has nothing to do with the fact that they're malicious. What's happening here is profiling and it doesn't work. Add that to the fact that there are of cou…

Thank you for making the world a better place through your valiant activism.

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

#308

Earlier quoted context omitted.

Right, it wasn't necessarily hateful on purpose, but as another poster pointed out, what does it mean that we default to using one specific group of people for that example? If they'd said "PRC hacker" it'd be a different story, but the word "Chinese" conflates a nationality and heritage. It does this, by the way, in written Chinese as well, hence a lot of arguments I've had in the past with PRC-citizen exchange stud…

I find your worry interesting and mildly humorous. You seem to be worried about hurting the feelings of chinese people for personal western moral reasons, but seem fine with insulting the PRC. Personally, given that the Chinese will likely dominate the world over the course of the next century, I'd be less worried about insults for ethical/antiracism reasons (they're going to be the ascendant ethnicity and culture so…

Yes, I view the Chinese Communist Party to be a threat to freedom and human rights worldwide. You're welcome to disagree.

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

#309

Earlier quoted context omitted.

I don't understand how banks can claim to have federal FDIC-insured protection of $250,000 per depositor if they don't actually reimburse you when a simple wire transfer fraud happens??

Because the insurance is against the bank being unable to pay deposits due to bank insolvency. The FDIC does not insure depositors against wire transfer fraud.

[deleted]

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

#310

Earlier quoted context omitted.

I don't understand how banks can claim to have federal FDIC-insured protection of $250,000 per depositor if they don't actually reimburse you when a simple wire transfer fraud happens??

Because the insurance is against the bank being unable to pay deposits due to bank insolvency. The FDIC does not insure depositors against wire transfer fraud.

I did some more research and it looks like the EFTA (Electronic Fund Transfer Act) protects electronic funds transfers (EFTs) in bank accounts, not the FDIC.

https://www.thebalance.com/banking-fraud-protection-315828

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