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Richest Bitcoin Addresses

bitcoinrichlist.com

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Re: Richest Bitcoin Addresses

#101

Post by nullc »

elux wrote: post #66
FridayWithJohn wrote: post #27

Question: How was this list generated, ie: how do you find out which hash number has a lot of bitcoins in it? I thought that was completely hidden.

See "Quantitative Analysis of the Full Bitcoin Transaction Graph”, a 2012 paper by Ron and Shamir. (Adi Shamir of “RSA".) Preprint available here: http://eprint.iacr.org/2012/584.pdf (The "Rich List” seems obviously inspired by this paper.)

The original Bitcoin "Rich List" predates that paper by years.

Sadly that paper is pretty poor. It's adequate for informing someone bitcoin isn't anonymous though— but the bitcoin.org website also does that without being littered with basic misunderstandings of how Bitcoin works.

Re: Richest Bitcoin Addresses

#102

Post by bjnortier_hn »

fat0wl wrote: post #30
res0nat0r wrote: post #6

Question: How hard/impossible would it be for me as a US citizen to cash in on a large lot like that? Say I want 10 million dollars for some partying I want to do for New Years. It seems some people have mega riches, but is it actually feasible for me to realize that money (in US Dollars, deposited to my Chase bank account)?

The whole price of Bitcoin is an illusion that they use to get people to keep buying. It's the result of a bidding war. There is an article here about that basically explains (this is my interpretation not his words) how the price of BTC is kindof like the sticker price on an item in the store. It doesn't represent the real value, it's simply the value as perceived by consumers and is, in a way, fixed -- http://falkv…

> The whole price of Bitcoin is an illusion that they use to get people to keep buying. It's the result of a bidding war.

The price of everything is an illusion according to the Subjective Theory of Value [1].

[1] http://en.wikipedia.org/wiki/Subjective_theory_of_value

Re: Richest Bitcoin Addresses

#103

Post by vinceguidry »

fat0wl wrote: post #50
hahainternet wrote: post #42

Earlier quoted context omitted.

> But the fact that early adopters are psychotically rich for doing nothing is... one of the many signs of a flawed system This is also the case with rich families. It doesn't make the system unusable.

Hah rich families are usually rich because they spear-headed a manufacturing industry or rose to political power. Yes, their CHILDREN may not deserve the wealth, but they earned it. Bitcoiners are getting rich for designing a pump-and-dump scam & passing it along. It's called a pyramid scheme. You make a pitch that sounds convincing and then shop it out through "Multi-Level Marketing" strategies. Why do Bitcoiners be…

> Why do Bitcoiners believe so much in a currency that allowed the originator to pull so much wealth out of thin air?

All markets get created out of thin air. Everything you use now at one point had someone looking at it thinking, "what the hell is that ever going to be good for?"

Re: Richest Bitcoin Addresses

#104

Post by loceng »

Who are these people? And if any of them are out there reading this thread -- reach out to me and let me know if want to invest in something that will help adoption of Bitcoin, which will result in its value continuing to go up...

Re: Richest Bitcoin Addresses

#105

Post by fat0wl »

lhgaghl wrote: post #94
fat0wl wrote: post #82

Earlier quoted context omitted.

greed-monger! Currency is something relatively stable, it's not a trading platform. I spoke about it in this way the other day -- One should not have to consult an exchange rate to figure out how much their currency is worth. They should know what it's worth by how much it costs for a dozen eggs. If that number changes rapidly (dozen eggs costs 1 BTC Monday, 3 on Friday, .5 next month, 100 in the future, .002 after t…

Again, you speak of a con of Bitcoin, but I don't see how any other system solves what you complain about. Please explain to me (or refer me to material explaining) how USD can possibly be stable when used by billions of people. Just because it's been stable from my point of view, doesn't mean it's stable for everyone. If your explanation relies on trusting a single person or organization, you see why I favor Bitcoin…

USD is more stable because gov/banks/etc. are all staring at it all day, as well as their country's population. Not saying I trust them but I'd rather have a bill backed by the US gov than by Satoshi Nakamoto.

He's the single person YOU rely on -- the one who designed the mining system, currency caps, etc. Ridiculous.

USD is more distributed than Bitcoin just because people are always watching theorizing monitoring USD. Bitcoin is at the mercy of market manipulators and there are no legal protections provided against even basic tricks.

Re: Richest Bitcoin Addresses

#106

Post by Anderkent »

MSM wrote: post #78
chrisacky wrote: post #23

Can you imagine how many of these BTCs are actually lost forever. Look at this address: http://bitcoinrichlist.com/address/198aMn6ZYAczwrE5NvNTUMyJ5... The last time this address was touched was 2009, and has an even 8,000 coins (back in the day, this only amounted to 320 mined blocks. You could do that in what?... a few hours/half days?[1]) The owner probably ran his system for a few hours, collected 8000 coins, tho…

Way smaller scale but back in 2011 I heard about bitcoins and crunched some numbers. I realized that at the current price (~$16), I was able to make profit mining them on my desktop since it would only cost about ~$12 in electricty per coin. I got myself 3 or 4 coins (I wasn't even in a pool at that point) but then the price crashed in late 2011 and I eventually forgot about it. Since then I've reformatted and I reme…

>Now every time I see a HN post about a new price milestone I kick myself. Today I could have sold them for ~$1500-2000.

You shouldn't. You only lost $10 by reformatting that pc - your only loss is from not buying the bitcoins at that point, of which most of us are guilty.

Re: Richest Bitcoin Addresses

#107

Post by mcherm »

cma wrote: post #89
sktrdie wrote: post #59

What kind of repercussion will this have in the future, say, when Bitcoin will be more widely utilized? It seems to me that it might only cause an issue to Bitcoin's market during these initial stages, where a rich bitcoin owner could fluster the market by selling large amounts. But in the long run, there will always be the rich and the poor. Or is there something I'm missing?

Couldn't everyone could just switch to a client that blacklisted all of the coins owned by people that were in the top 100 on nov 22 2013?

Yes, that would work.

And better yet, everyone could just switch to a client that works exactly like the clients we use to day except that it allows a new wallet I just created containing 100,000 bitcoins. This one is better because I get rich.

And to make it work the only thing I need to do is convince everyone to use it. It's kind of like that guy who convinced everyone to allow little green slips of paper to be traded for goods and services -- ALL money has value only because society consents to value it, and society could change it's mind. We've done so before -- consider when the Euro was created and how after a transition period the currencies it replaced became worthless (except as collector's items).

The hard part is convincing everyone to use YOUR plan. The deftness with which Bitcoin has navigated that social dilemma is one of the most impressive things about it. Somehow we have all come to agree that certain bit patterns and secret keys are worth valuable goods and services.

Re: Richest Bitcoin Addresses

#108

Post by [deleted] »

res0nat0r wrote: post #6

Question: How hard/impossible would it be for me as a US citizen to cash in on a large lot like that? Say I want 10 million dollars for some partying I want to do for New Years. It seems some people have mega riches, but is it actually feasible for me to realize that money (in US Dollars, deposited to my Chase bank account)?

[deleted]

Re: Richest Bitcoin Addresses

#109

Post by unethical_ban »

publicfig wrote: post #34
Cthulhu_ wrote: post #17

Earlier quoted context omitted.

And you defeated the purpose of hellbanning by pointing it out to the user. http://en.wikipedia.org/wiki/Hellbanning

My assumption is that because they have the username 'unethical_ban' they probably understand that they broke the spirit of the Hellban, but did so intentionally.

This account is not intended to be a novelty account; you can see I post relevant discussion most of the time. I am, however, someone who was hellbanned for quite some time for an admittedly less-than-stellar post. One facetious remark got a 900+ karma, 3-year old account banned.

Re: Richest Bitcoin Addresses

#110

Post by bitcointrust »

waterlesscloud wrote: post #56
res0nat0r wrote: post #45

Earlier quoted context omitted.

How about just 1 million? It seems most responses above are "it can be arranged", which wouldn't be acceptable to me if I had millions in bitcoin I wanted to cash out.

A million is easy. Put up your ask for 1400-1500 BTC and wait for someone to buy it. Maybe spread it out over a small range so it doesn't look intimidating, but at that size it doesn't really matter. Probably happen in a few hours. Again, several of these transactions happen every day. Have the money wired to your bank. If you're selling on bitstamp, even that step is easy. Done.

If you’re looking to cash out, SecondMarket is currently trading sizeable blocks of bitcoin. Please feel free to contact us at xbttrading@secondmarket.com .
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