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Someone just made a $147,239,214 Bitcoin transfer

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Re: Someone just made a $147,239,214 Bitcoin transfer

#211

Post by BlackDeath3 »

hackinthebochs wrote: post #149
fragsworth wrote: post #54

Earlier quoted context omitted.

Are you suggesting that any given transaction is most likely to be a theft?

I think the point is that the only reason to transfer such a large sum of money is either buying/selling something or stealing. And considering there probably aren't many (if any) things one can buy with that many bitcoins, theft seems to be most likely scenario.

>I think the point is that the only reason to transfer such a large sum of money is either buying/selling something or stealing.

Perhaps you could be a little less specific?

>And considering there probably aren't many (if any) things one can buy with that many bitcoins, theft seems to be most likely scenario.

You could buy a lot of something from a private entity who really values Bitcoin.

Re: Someone just made a $147,239,214 Bitcoin transfer

#212

Post by efnx »

SilasX wrote: post #148
gfodor wrote: post #111

Earlier quoted context omitted.

Call me crazy but if I am ever in a position to transfer $150M I'd probably also want a third party involved to make sure the transaction goes smoothly, like a bank. Like we do today. With wire transfers.

True, but what's significant here is that bitcoin gives you a zillion third party verifiers (the entire network), and does it for free. If you meant in terms of escrowing to make sure one party doesn't back out, then I agree that comparison wouldn't apply.

You can do an exchange as an escrow with a third party using a transaction only. No services required ;)

https://en.bitcoin.it/wiki/Contracts#Example_2:_Escrow_and_d...

Re: Someone just made a $147,239,214 Bitcoin transfer

#214

Post by BlackDeath3 »

baby wrote: post #159
Keyframe wrote: post #155

Earlier quoted context omitted.

So much for anonymity of Bitcoin.

I think you never really understood how bitcoin works if you make that statement. All bitcoins wallets, and their transferts, are public.

I'm surprised that anybody visiting this site could still be so ignorant about Bitcoin.

Re: Someone just made a $147,239,214 Bitcoin transfer

#216

Post by truthlaidbear »

paraboul wrote: post #116
AlexMax wrote: post #98

Earlier quoted context omitted.

Right, but the question was about how to cash out.

"cash out" is a wrong word. Bitcoin IS a currency/cash. The goal is to buy actual things with it and not necessary exchange it with another currency

Not for speculators.

Re: Someone just made a $147,239,214 Bitcoin transfer

#217

Post by dmix »

BlackDeath3 wrote: post #214
baby wrote: post #159

Earlier quoted context omitted.

I think you never really understood how bitcoin works if you make that statement. All bitcoins wallets, and their transferts, are public.

I'm surprised that anybody visiting this site could still be so ignorant about Bitcoin.

I don't think there is a single topic that exists right now, that people are willing to debate while being completely ignorant of it, more than Bitcoin right now. That applies to HN/reddit, TV talking heads, and real life.

Re: Someone just made a $147,239,214 Bitcoin transfer

#218

Post by INTPenis »

fragsworth wrote: post #64

Consider this: They paid $0.00 for the transfer of $150 million dollars. A direct (i.e. not based on third party credit, regulations, etc.) transfer of wealth of this magnitude between two entities usually consists of a heavily guarded, insured, physical shipment of cash or gold. Depending how safely you want to make the transfer, and how far the entities are on the globe, it can cost hundreds of thousands to million…

Months ago? I was considering buying some coin when it cost only a few dollars. You can imagine how I'm kicking myself now.

Re: Someone just made a $147,239,214 Bitcoin transfer

#219

Post by nico »

aortega wrote: post #174
muzzamike wrote: post #125

Earlier quoted context omitted.

In 2000...

2013 Argentinian here. To buy a house right now you usually have to pay dollars cash because nobody accepts a currency that devaluates 25% per year. The political class here is crazy corrupt and rich like in every third world country, and they are known for using piles of 500 euros bills to stay out of the bank system because euros have more wealth density than dollars.

I'm a little offended by the "like in every third world country" statement. Chile is not like that at all, and we are a third world country.

In fact, here we are ranked right under (20th) the US (19th) in terms of transparency:

http://www.transparency.org/country#CHL http://www.transparency.org/country#USA_DataResearch

Argentina is ranked 102: http://www.transparency.org/country#ARG_DataResearch

In all of Latin America, the closest countries to Chile in that transparency ranking are Costa Rica, with the 48th place, then Cuba 58th and then Brazil 69th.

Edit: added justification data with links / I'm proud of Chile

Re: Someone just made a $147,239,214 Bitcoin transfer

#220

Post by Kiro »

BlackDeath3 wrote: post #214
baby wrote: post #159

Earlier quoted context omitted.

I think you never really understood how bitcoin works if you make that statement. All bitcoins wallets, and their transferts, are public.

I'm surprised that anybody visiting this site could still be so ignorant about Bitcoin.

Most people don't care about Bitcoin.
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