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94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet

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Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet

#171
post #117

Earlier quoted context omitted.

Important qualifier on that that's missed for most "the very rich". The "rich" are often quite penny pinchers. My grandfather is "rich" (several millions, and in a very cheap place to live in the midwest) but he lived his entire life being extremely strict on spending and controlled personal finances very carefully. He still complains when there's large money to be spent on something that should be cheap.

Yeah. The very rich intrigue me. I wonder what they think, where they go, what they eat, and what they watch. Can't be the same shit we got.

From what I've observed, the very rich don't generally "watch" much at all. For example, Gates, Buffet, and Musk are all widely reported to read voraciously. Its almost impossible to have a big TV watching habit and also a big book habit. As for the rest of your verbs, I'd expect the spread to so wide as to be unusable in forming a singular data point. While certainly having access to institutions I could never approach, even billionaires have been known to eat McD's, and I'm sure that Bezos has eaten at Whole Foods. They're just people, after all.

Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet

#172
post #9

Probably related to Bakkt. The interesting thing here is how inexpensive was the transaction fee. How does banks transfer this kind of sum and how much would it cost?

The transaction fee actually seems kinda high to me. How much does a wire transfer cost, $35?

Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet

#173
post #12

I can count maybe 5 people in the crypto space that would have that much BTC, but none of them would be dumb enough to put it all in one wallet. Most likely some large institutional investor decided to re-key their cold storage wallet.

This is the part which confuses me about Bitcoin the most. It's meant to be anonymous, yet with some diligent data mining, it can become pretty clear who's who from their spending patterns by observing the ledger. How is that remotely anonymous?

Bitcoin isn't anonymous.

The entire history of every transaction between every wallet is visible. This means if someone knows your wallet ID (i.e. you bought something from them and shipped it) they know exactly how much bitcoin you have in that wallet.

Some people try to be anonymous on it, but as some of the drug dealers on Wall Street Market found out, that's pretty hard to do. Law enforcement was able to track down some of them by tracing their bitcoin transactions.

Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet

#174
post #109

Earlier quoted context omitted.

I found out that my grandfather was a multimillionaire later in life as well, but I would never have guessed because he lives in an inconspicuous house in a middle class neighborhood and drives an inconspicuous car (Honda CR-V). He complains about milk and gas prices like most people and basically just doesn't telegraph his wealth at all (except by buying exclusively Wheaties as his breakfast cereal). He grew up duri…

Maybe this is just me, but I don't actually consider having a couple million dollars as "rich", I know a couple folks worth hundreds of millions, and the way they behave are certainly different.

A couple million dollars is a retirement nest egg. You can stop working, stretch it carefully until you die, and leave a small sum to your heirs.

To be very rich requires upwards of $100 million. Then you can access high paying investments which will generate enough income to afford a couple houses, hire help, buy a boat and a plane, and have enough left over after taxes to increase your assets to offset inflation. Actually, if you want a jet plane (with hired pilots, mechanics, hangers, etc) and a couple nice houses (>$10 million each plus staff) in the nicest places (Beverly Hills, Palm Beach, Jackson Hole), you need upwards of $1000 million.

Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet

#175

Earlier quoted context omitted.

> how expensive it would be to do it in a normal banking situation No idea about the billionaires, but I can shift £5k from a current account to another current account with another bank for the princely sum of £0.00

Try doing 100K in EUR/USD/GBP... It's likely not free (but probably not outrageous either)... Last time I did something like that the transaction cost was small ( On the flip side, I saw a payment go through for one our suppliers today. $50 invoice. > $25 processing fee because it was a european bank processing a USD transaction. :/

Most I’ve ever transferred is about 600.000 USD. Was free and instant..

Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet

#177

As far as the fees being so cheap, and every one else guessing about how expensive it would be to do it in a normal banking situation, F. Scott Fitzgerald is relevant: "Let me tell you about the very rich. They are different from you and me. They possess and enjoy early, and it does something to them, makes them soft where we are hard, and cynical where we are trustful, in a way that, unless you were born rich, it is…

Holy sh*it that quote. Thank you, I'm adding that book to my amazon cart right now.

Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet

#178

From the top twitter comment: > 0.06BTC in fees? Why so expensive? Just gotta say, its pretty amazing we live in a world where 1 billion dollars can get transferred pseudo-anonymously in a reasonable time frame, only costing the transfer party $600. As a really stupid, non-real-world comparison, Western Union has a transfer limit of $2500 per transaction, and a $20 fee per transaction. If you were to initiate a $1,00…

When you move $1B from one financial instution to another, the receiving end will pay you to choose them over their competitors, as well as provide other incentives.

There's simply no comparison.

Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet

#179

Is this a block of Satoshi mined coins? Anyone know a way to see the origin date of a particular coin easily?

If these were Satoshi coins that would be a huge story since Satoshi’s private keys are presumed lost.

The identity of Satoshi isn't known. Why should anyone have presumptions about them?

I agree it would be a huge story, but "Satoshi's private keys were presumed lost" wouldn't be in the top 10 reasons why.

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