Someone Just Moved $1B in Bitcoin (cointelegraph.com) 34
A $1 billion Bitcoin transaction has become conspicuous not because of its size but because its sender spent far too much on fees. From a report: Someone could have sent 94K BTC for $35. Social media users were guessing at the origin and destination of the funds on Sept. 6, which involved 94,504 BTC ($1.018 billion). According to Twitter-based monitoring resource Whale Alert, the transaction did not involve known wallets or those belonging to a specific cryptocurrency-related organization, such as an exchange.
One theory suggested the funds may be tied to institutional trading platform Bakkt, which begins accepting client deposits today. "Institutions building inventory for their market-making needs going forward," commented Max Keiser on the giant transaction. He added: "This = effective 'put' on the BTC price at $9,000. Ie, institutions are net-buyers of any BTC that shows up at $9k. Risk/reward now for buyers is excellent."
One theory suggested the funds may be tied to institutional trading platform Bakkt, which begins accepting client deposits today. "Institutions building inventory for their market-making needs going forward," commented Max Keiser on the giant transaction. He added: "This = effective 'put' on the BTC price at $9,000. Ie, institutions are net-buyers of any BTC that shows up at $9k. Risk/reward now for buyers is excellent."
Max Keiser? The cheerleader of Bitcoin? (Score:2)
Ok. 'whatevur'
Whait and see shall be the motto here.
Another founder skips? (Score:5, Funny)
In other news , the founder of was found dead by his wife/girlfriend who has no idea of his passwords. 1 Billion in Bitcoin was found to be missing from the depository accounts. /s
Insert name of favorite exchange (Score:2)
in the sentence above
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In other news , the founder of was found dead by his wife/girlfriend who has no idea of his passwords. 1 Billion in Bitcoin was found to be missing from the depository accounts. /s
That was the founder of a major bitcoin exchange ( not bitcoin itself )! ref: https://futurism.com/crypto-ex... [futurism.com]
What?! nine thousand? (Score:5, Funny)
This bitcoin display must be broken!
Suspiciuous (Score:5, Informative)
has become conspicuous not because of its size but because its sender spent far too much on fees
Seriously? TFL indicates that the fee was around $700. That's a 0.00007% of the transaction amount. They suggest that it could be generated by a bank with high interest in buying BTC, this fee is worth nothing to them.
"Risk/reward excellent" = "pump&dump in progre (Score:2)
This is the fat chance for all that want to lose their money!
Possibilities (Score:5, Funny)
1. Mexico is about to pay for the wall
2. Someone's paying up a bet on the Indian moon lander
3. A big investment in Sharpie stocks
4. A decimal typo
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Justin Trudeau Won't Be Reciting Pi to the 19th "Decibel" [youtube.com]
94,504 (FPB) Flainian Pobble Beads (Score:2)
once again, an absolutely killer bon mot prevented by slashdot's ineptness at unicode
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5. Lodge 49 has just decoded its secret scrolls, breaking the BTC algorithm and "printing" as much coin as they like. It's Zimbabwe time for the ransomware and money laundering community.
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5. Trump's offer for Greenland finally went through
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He pays in imaginary money and gets imaginary rights to the place.
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If true, it would be renamed "Orangeland".
BITCOIN IS JUST A MASSIVE GLOBAL SCAM!!! (Score:1, Insightful)
IMHO, all cryptocurrencies are just a new kind of scam, similar to Ponzi Scheme!!!
Isn't printing & issuing your own currency and/or stocks illegal & for really good reasons???
But isn't that what exactly cryptocurrencies really are doing???
Why do you think "Satoshi" took first 1 MILLION BITCOINS for himself & disappeared into hiding???
(Instead of proudly coming-out, if Bitcoin is really a great financial innovation!!!)
Maybe to make sure law enforcement cannot catch him, if/when BITCOIN SCAM fails
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IMHO, all cryptocurrencies are just a new kind of scam, similar to Ponzi Scheme!!!
Maybe, maybe not.
Isn't printing & issuing your own currency and/or stocks illegal & for really good reasons???
Illegal where?
But isn't that what exactly cryptocurrencies really are doing???
Yes. This is not a great discovery.
Why do you think "Satoshi" took first 1 MILLION BITCOINS for himself & disappeared into hiding???
We don't know if s/he is in hiding. What we do know is that s/he is not being pestered by the press everyday of their lives, which seems to be a decent reason to not let them know who you are.
Maybe to make sure law enforcement cannot catch him, if/when BITCOIN SCAM fails/uncovered???
Maybe to sell his 1M Bitcoins all @ once, when Bitcoin price reaches its top limits???
Just THINK it!!!
"Top Limit"? what's that supposed to be?
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IMHO, all cryptocurrencies are just a new kind of scam, similar to Ponzi Scheme!!!
Isn't printing & issuing your own currency and/or stocks illegal & for really good reasons???
Actually, no, it isn't. In the United State of America, at least, you can make your own currency and use it with anyone willing to accept it so long as it is plainly obvious that your currency is not legal tender and that no one is forced into accepting it. Look up Ithaca Hours on Google for one such example.
Counterfeiting is imitating another currency, such as the US Federal Reserve Note or any other sovereign currency.
Non-sovereign currencies have existed for centuries. Europe used to have quite a few
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Isn't printing & issuing your own currency and/or stocks illegal & for really good reasons???
I sure hope not, otherwise I'm abetting a felony every time I buy a gift card.
Fart (Score:2)
Or, just hear me out on this, someone with a large balance created a new wallet and moved their BTC to it.
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Re: Does he really want to own it? (Score:1)
Think twice. US bought Louisiana purchase, Manhattan, Alaska...colonialized Hawaii...list goes on...
It's not a historically stupid idea. Not saying it will happen but it's not a stupid question. A friend has a place in the Bahamas and they wish they had British commonwealth support right now.
Sounds like "House Money" has moved in! (Score:2)
Should make for some interesting "trading" or as I like to call it: gambling with candlesticks!
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Oh, sweetie. Most of us aren't as passionate about rounding as you are. But you should keep the dream alive!
Chinese getting their money out (Score:2)
The biggest movers of crypto currencies over the last 3 yrs have been Chinese people trying to get their money out of China, since midget hitler has been blocking all normal outgoing money flows. China has already banned crypto currency exchanges inside China, so maybe it is some government criminal abusing his power.
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Not if the person wants it to be hard to trace.
It's easy enough for anyone with a billion dollars to rent a server in whatever county they want.
Man this article's premise is stupid (Score:2)
If you're moving 1 billion dollars in bitcoin, you could care less about paying $700 vs $35 for transfer fees.
Unknown wallets? (Score:2)
I'd like to know exactly what was meant by "the transaction did not involve known wallets"
I would assume they actually mean wallets whose owners are unknown - the source wallet(s) at least had to already be known to the network or they wouldn't have funds in them to be transferred.
Purdue Pharma's Sackler Family Wiring $1billion (Score:1)