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Richest Bitcoin Addresses

bitcoinrichlist.com

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Re: Richest Bitcoin Addresses

#71

Post by kzrdude »

wdvh wrote: post #70
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…

Given tptacek and colleagues' paper on the RSA-doomsday scenario that might not be too far out in the future, I think it might be possible to reclaim (steal?) that money in the future. Obviously when RSA's end nears, assuming bitcoin is still around then, we'll see some sort of managed transition to a newer cryptosystem. I imagine the network will probably support announcing transactions saying something like, "Walle…

Bitcoin doesn't use RSA.

Re: Richest Bitcoin Addresses

#72

Post by sktrdie »

wdvh wrote: post #62

Can we link IP addresses and hence approximate locations to these wallets using announced transactions on the network? That might be an interesting visual. Maybe not because I doubt anybody was logging bitcoin network traffic in the early days. But doing that even starting today might turn out to be useful. And there's little doubt NSA and friends are likely already doing this.

No IP address is saved in the block-chain. You would need to trust the source of this IP listing service, and still you wouldn't be able to actually prove people's real IP address if they were using systems like TOR to send money.

Re: Richest Bitcoin Addresses

#74

Post by fat0wl »

pyre wrote: post #65
fat0wl wrote: post #50

Earlier quoted context omitted.

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…

What about old old money? I'm talking about people that have money because their ancestors were royalty of some sort. Can you really say that they earned it? How much of that could be being in the right place at the right time? E.g. You helped out the king and he granted you a lot of land. Several generations later, your descendents are ridiculously wealthy because you got in on the 'ground floor' of what would later…

Heh I agree with your concept a bit, I was thinking about that myself. But here's the counter -- WHO REALLY WANTS TO RELIVE THE DARK AGES?!!

Great headline: "Crypto-Currency of the Future Promises a Return to Medieval Economics via Anonymous Self-Proclaimed King"

Even in those systems, people had to WORK to get that $$. We're kindof seeing that now with those setting up the Bitcoin infrastructure, but early adopters are richer than they at this point -- just by trading for a couple magic beans before the masses decided they HAVE TO HAVE THEM!!!

I think the coolest thing would be if cryptocurrency folks set up the Bitcoin ecosystem decided there was a BETTER digital currency, and just utilized that same tech stack with the better product. F--k Bitcoin it was an experiment and it can rot

Re: Richest Bitcoin Addresses

#75

Post by BinaryBrainz »

lukev wrote: post #10
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)?

No. The market just isn't that deep. I really doubt there are people looking to spend 10 million (or even 1 million) dollars on bitcoin in any normal time frame. Most of the bitcoin super-rich are the early adopters, who mined hundreds of bitcoins on their personal PCs while that was still possible.

To put it in perspective, Bitcoincharts.com [1] reports that the market trade volume is around 200,000 BTC (I believe this to be a 24hr stat). BTC-China is currently the largest exchange and their 24-hr volume is 67,500 BTC. So yeah, several thousand BTC being traded at once could be a significant disturbance in the force.

I wonder if it would be possible to come up with some kind of market indicator to detect when one of major holding addresses starts to sell off on one of the exchanges. This may be possible if the escrow/intermediary accounts are known. If one of these 'major holders' really felt like being evil, they could test out some of the BTC to USD processors to see how well their setup to handle large transactions and nuke them with 1000BTC conversions. Coinbase.... BOOM!... BTCQuick.... BOOM!

[1] Bitcoin Charts / Markets - http://bitcoincharts.com/markets/

Edit: turns out Coinbase has a 50BTC/day buy or sell limit.

Re: Richest Bitcoin Addresses

#77

Post by nullc »

kzrdude wrote: post #71
wdvh wrote: post #70

Earlier quoted context omitted.

Given tptacek and colleagues' paper on the RSA-doomsday scenario that might not be too far out in the future, I think it might be possible to reclaim (steal?) that money in the future. Obviously when RSA's end nears, assuming bitcoin is still around then, we'll see some sort of managed transition to a newer cryptosystem. I imagine the network will probably support announcing transactions saying something like, "Walle…

Bitcoin doesn't use RSA.

And that addresses' EC public key is not public.

Re: Richest Bitcoin Addresses

#78

Post by MSM »

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 remember having that "Oh shit" moment as I was reformatting but after looking up the price I realized I was only out about $10. This was late 2011.

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.

Re: Richest Bitcoin Addresses

#79

Post by rtkwe »

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.

No the entire history of bitcoin transactions is public that's the only way the whole thing works because that allows anyone to validate that a given account has enough coin to settle a given transaction.

Re: Richest Bitcoin Addresses

#80

Post by waterlesscloud »

BinaryBrainz wrote: post #75
lukev wrote: post #10

Earlier quoted context omitted.

No. The market just isn't that deep. I really doubt there are people looking to spend 10 million (or even 1 million) dollars on bitcoin in any normal time frame. Most of the bitcoin super-rich are the early adopters, who mined hundreds of bitcoins on their personal PCs while that was still possible.

To put it in perspective, Bitcoincharts.com [1] reports that the market trade volume is around 200,000 BTC (I believe this to be a 24hr stat). BTC-China is currently the largest exchange and their 24-hr volume is 67,500 BTC. So yeah, several thousand BTC being traded at once could be a significant disturbance in the force. I wonder if it would be possible to come up with some kind of market indicator to detect when o…

It would be trivial to write a script to watch the top however many addresses for movement. You wouldn't know if the coins were headed for an exchange or not, though.
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