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94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
271–280 of 747 posts
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#272Earlier quoted context omitted.
Rich people would consider being soft and cynical as virtuous? There's no way to read the quote in a positive manner.
Of course there is: soft => more refined and subtle, cynical => more wise to the world.
That is how I read it as well. I’d imagine being someone that is cynical and wealthy protects your wealth from forces that would suck less cynical people dry (multilevel marketing, get-rich-from-real-estate seminars, stocks currently riding the wave of the hot rumour of the week).
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#273Earlier 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.
My grandfather was similar. Died a millionaire while never making more than $30k/year. He just paid for things in cash and made sure to always invest. The only luxury he ever spent was on my grandmothers car. Everything else was on a budget and cheap as could be.
I feel like a life void of luxury is... not preferable.
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#274Earlier quoted context omitted.
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. A…
It doesn't become easier to beat the market when you have more than $100 million.
Anyone with a couple $1000 can buy cheap etfs or index funds
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#275Many analysts suspect it's associated with Bakkt, the new yet to launch cryptocurrency exchange created by the NYSE parent.
Source?
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#276Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#277Earlier quoted context omitted.
I am not sure how bank handle such large transactions (100 milion+), but transferring millions is very cheap or for free - at least with standard IBAN within EU.
A large corp-to-corp (or even person-to-corp) transfer does have a lot of money involved (accounts to figure out taxes, lawyers if it's for buying or selling major assets, possibly international tax experts, maybe even an escrow service if it's between say a EU company and a Chinese company where they might not trust the other nations court systems). And then the bank might charge a fee too, although I suspect with a…
And these other costs would not apply in bitcoin world?
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#278Earlier quoted context omitted.
A rich person would read that quote and summarize it as "rich people are good". So really GP is just outing his or herself as not rich.
Rich people would consider being soft and cynical as virtuous? There's no way to read the quote in a positive manner.
An important detail is that the quote is not "they are soft and cynical", but rather:
"soft where we are hard, and cynical where we are trustful"
In other words, how they are different from others. Not that they are fundamentally soft, cynicalm or bad.
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#279Is it a billion dollars, though? I mean, if you started selling them, the market price would likely go down. In other words, are there enough people looking to buy 94504 BTC at current market value?
> Is it a billion dollars, though? I mean, if you started selling them, the market price would likely go down
It's actually a good question. Very few actors in the Bitcoin space actually know what the "global order book" looks like and how much liquidity there actually is in that market.
Re: 94k Bitcoin (1B USD) transferred from unknown wallet to unknown wallet
#280Earlier quoted context omitted.
Fidelity found that only 12 percent of millionaires inherited at least 10 percent of their net worth-- 88% are self-made. https://money.usnews.com/money/blogs/on-retirement/articles/...
That statistic sounds highly suspect: if I inherited $5M 30 years ago and am now wort $50M, do I count as "not having inherited my wealth"?
Nobody ever got anywhere without at least some luck involved. I think people deserve credit for any wealthy growth above and beyond what you'd expect for the asset they started with.