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

blockchain.info

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

#221

Post by dllthomas »

dmix wrote: post #167
Keyframe wrote: post #155

Earlier quoted context omitted.

So much for anonymity of Bitcoin.

Bitcoin is pseudonymous by default, not anonymous. Anonymity is a choice. CoinJoin [1] and other trustless mixing software projects are aiming to make anonymity a push of a button. This is being implemented into DarkWallet [2] where mixing happens automatically in the background. [1] http://bitcoinmagazine.com/6630/ [2] http://www.indiegogo.com/at/darkwallet

Though I have every expectation of mixing falling afoul of AML laws, if not presently then soon.

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

#222

Post by nwh »

jluxenberg wrote: post #213

Are those editorialized links added by Blockchain.info admins, or are they part of the block chain itself? ("gotcha" and "shit load of money!")

They're added by users of blockchain.info. The actual blockchain does not store any metadata.

http://blockchain.info/tags

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

#223

Post by fragsworth »

smackfu wrote: post #191
JackFr wrote: post #137

Earlier quoted context omitted.

Not true: http://www.bloomberg.com/news/2012-01-31/venezuela-receives-... http://www.forbes.com/sites/afontevecchia/2013/01/16/germany...

True but these are both transferring gold so that the gold is in a different physical location, not transferring gold to pay someone. I'm sure both cases would much rather sell the gold in place A and buy it in place B, but that's just not possible at this quantity of gold.

The same can be done with bitcoins - because they do exist in physical locations (as many physical locations as you want, actually, but you probably don't want too many...)

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

#224

Post by conjecTech »

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…

Finally, someone mentioning good reasons why bitcoin is actually great. You're absolutely correct, and this is why bitcoin will continue to remain relevant. Taking service fees out of transactions is a huge boon for businesses and consumers everywhere. My mother is the CFO for a large retailer, and I believe service fees are the third largest cost they have after rent and personnel.

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

#225

Post by ISL »

jonknee wrote: post #114
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…

And they received $0 worth of assurance that it would be successful. If it were my $150M I would not want to leave it up to the block chain and hope it works.

If you were worried about how it would go through, you could break the transaction into many small transfers (which would've been very smart in this context).

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

#228

Post by kmfrk »

smtddr wrote: post #134
kmfrk wrote: post #14

Should this be regarded as capital gains from currency speculation, when it comes to taxation, or how does something like this look to a tax attorney or accountant?

Probably capital gains, like striking it big in the stock-market. e.g., someone selling a bunch of Apple stock they purchased back before iPods became popular. Can you even imagine trying to file this on your taxes? Unless you're a mega-corp, the first thing that will happen is that within 24hrs of the deposit, your bank would call you to say how much they appreciate you using $BANK_NAME for your banking needs and as…

Don't the FBI still belong under Treasury for counterfeiting practice? I wonder what their jurisdiction is, when it comes to bitcoins as currency.

In terms of tipping off authorities, it's just a matter of finding the right bank to do business with: https://en.wikipedia.org/wiki/Hsbc#Money_laundering. :)

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

#230

Post by mpyne »

nostromo wrote: post #127
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.

Choice is good. People shouldn't be forced to use banks or bitcoin.

Who's forcing anyone to use a bank even without Bitcoin?
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