30,000 Bitcoin Buy-In on coinbase | Bitcointalksearch.org

Wiwo

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Quote from: tbterryboy on March 14, 2022, 05:24:19 AM

I really doubt that 30k would be bought all at once and from just one place to another like that overall. I believe it could be exchange movement to cold storage like everyone suggests. If there is a company buying 30k bitcoins, you wouldn't even hear about it and you can't see it on coinbase like that.

Tesla bought 1.5 billion dollars worth of bitcoin and nobody saw that, why? Because, they use OTC for that and use many many many wallets as well and all of them in cold storage as well in the safest possible place. That is why I honestly believe that people should not consider these big moves as a great deal since they are mostly just exchanges doing cold storage.

Well a lot have not been heard about the movement of the 30k Bitcoin movement on coin base so this made me believe the Bitcoin movement was an exchange movement may between two wallets within the exchange, but another contradictory fact is the mentioning of the transaction being carried out in three trenches which show otherwise.

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I really doubt that 30k would be bought all at once and from just one place to another like that overall. I believe it could be exchange movement to cold storage like everyone suggests. If there is a company buying 30k bitcoins, you wouldn't even hear about it and you can't see it on coinbase like that.

Tesla bought 1.5 billion dollars worth of bitcoin and nobody saw that, why? Because, they use OTC for that and use many many many wallets as well and all of them in cold storage as well in the safest possible place. That is why I honestly believe that people should not consider these big moves as a great deal since they are mostly just exchanges doing cold storage.

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Quote from: rhomelmabini on March 12, 2022, 12:32:53 PM

~snip~
But if you navigate it on "All exchanges" it remains totally constant/flat on that 2 million area for exchange reserves.

We can agree that there are millions of Bitcoins on the market if we take into account OTC as well, which means that 30k BTC (even if it is not an internal transaction) is something hardly worth mentioning, although it seems like a lot to an ordinary mortal. Demand is definitely much lower than supply, and due to its speculative nature, part of what investors buys always returns to the market.

From the perspective of a small crypto trader, a few thousand dollars up/down doesn't mean too much, but someone who has 50 BTC and knows how to trade them skillfully can make a significant profit, especially in the times we have at the moment.

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Quote from: Wiwo on March 11, 2022, 11:50:41 AM

There have been a whale movement on coinbase the US base exchange, if this gets confirmed it becomes one of the biggest Bitcoin purchase in 2022, a total of 30k Bitcoin was purchased in three transactions as alerted by the Bitcoin market monitor site whale alerts.

You cannot say it is the biggest BTC purchase this year, the article only said if 30k BTC moved from Coinbase to unknown wallets. This means we don't know when the 30k BTC was bought, right? Those BTC may be already bought when BTC dropped below $30k a few months ago. So, don't misunderstand this large number of this BTC movement, don't too hurry to conclude that the 30k BTC was just bought at the current price.

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according to the article it is not known if it was bought or if it was simply someone who already had this amount of bitcoin and decided to withdraw it, you can see what I am talking about in a passage of the article, as it had no impact on the price I assume it was just a transaction from someone, that is, someone already had these bitcoins and decided to withdraw them to their wallet, something normal that happens

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Quote from: Lucius on March 11, 2022, 12:23:33 PM

It's just a question of how much BTC is available through OTC, but without a doubt it's millions - which means there are far more who want to sell than buy.

Can't say for sure that it's more on selling than buying since if we examine the exchange reserve closely here, you'll see that throughout the start of 2021 these figures was pretty constant. For Coinbase Pro data about exchange reserve it's literally decreasing though other major exchanges aren't the same. But if you navigate it on "All exchanges" it remains totally constant/flat on that 2 million area for exchange reserves.

Wiwo

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Quote from: kaya11 on March 12, 2022, 08:45:11 AM

So could it be a sign that there will be a bullish market coming right up? I have never seen a single purchase of BTC with that huge amount. And by who or what company do you think bought it? Hope there would be a big leap in the market soon, these world problems are dragging the market down.

Well this could have a long term positive impact on the price of Bitcoin, and at the present level Bitcoin is trying to recover back from it correction stage so if it is a whale buying it may not have a direct impact on the price of Bitcoin.
Bitcoin have become a global currency and a lot of eyes are on Bitcoin and various works leaders are looking in the direction of blockchain technology and decentralization. Bitcoin have become the best possible alternative.

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So could it be a sign that there will be a bullish market coming right up? I have never seen a single purchase of BTC with that huge amount. And by who or what company do you think bought it? Hope there would be a big leap in the market soon, these world problems are dragging the market down.

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Quote from: Poker Player on March 12, 2022, 05:02:26 AM

2.357 million? I don't understand. Does it refer to 2.357 million fiat value of those Bitcoins? It's obviously not 2.357 million Bitcoins.

As far as I understand it is the number of Bitcoin on a total of 21 crypto exchanges, but I can not say whether it is the total number of what is available for sale or their total reserve. Either way, given the nearly 19 million BTCs that have been mined so far, it’s no wonder that at least about 10% is on crypto exchanges.

Maybe a year or more ago, an estimate was published that Coinbase alone holds nearly 1 million BTC, so this number is no surprise. As much as we talk about security, the fact is that the vast majority of Bitcoin investors do not know what a private key is and how risky it is to entrust it to someone else for safekeeping.

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Quote from: Kakmakr on March 12, 2022, 05:25:47 AM

Well, if my interpretation is correct.... those bitcoins was not bought... it was moved out of Coinbase to another wallet. This might just be a reaction on the announcement that Biden gave an executive order for the regulatory authorities to regulate Bitcoin in the US.

I think this person might have bought these coins a while ago already and they just pushed it to external cold storage, before "regulations" come into play in the near future. (but this might take some time) Roll Eyes

I would much rather be worried if a bunch of people start to deposit loads of coins on to Exchanges (a possible indicator of a possible dump) Wink

This statement may be right as there was no mention of trading in the article but the movement of coin out of coinbase, whichever ways that figure of 30,000BTC is huge and could be heading to a cold wallet really for safety away from regulators, I expected big whales activities in bitcoin this period as the Russia ban is taking hold on the economy and alternative source are being utilized.

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Well, if my interpretation is correct.... those bitcoins was not bought... it was moved out of Coinbase to another wallet. This might just be a reaction on the announcement that Biden gave an executive order for the regulatory authorities to regulate Bitcoin in the US.

I think this person might have bought these coins a while ago already and they just pushed it to external cold storage, before "regulations" come into play in the near future. (but this might take some time) Roll Eyes

I would much rather be worried if a bunch of people start to deposit loads of coins on to Exchanges (a possible indicator of a possible dump) Wink

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Quote from: Lucius on March 11, 2022, 12:23:33 PM

For ordinary mortals, 30 000 BTC is a hard-to-understand amount, especially if someone focuses on their fiat value - but for the crypto market, that obviously means almost nothing. In the article cited by the OP as a source, one sentence is particularly interesting to me :

It's just a question of how much BTC is available through OTC, but without a doubt it's millions - which means there are far more who want to sell than buy.

2.357 million? I don't understand. Does it refer to 2.357 million fiat value of those Bitcoins? It's obviously not 2.357 million Bitcoins.

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Quote from: Wiwo on March 12, 2022, 02:03:13 AM

Quote from: blockman on March 11, 2022, 03:26:57 PM

Always a big deal for some that keeps on track those huge transactions. This isn't new, even in bears or bulls, there has been purchases like this in the past.
So it's not a big deal anymore when we see those huge purchases and as said, there will be some huge sell offs in the future. It's just amazing to see the numbers but to me, I'm no longer surprised when there could even be hundreds of thousands to millions of bitcoins being purchased or sold.

Truly amazing to see such a huge number of Bitcoin purchases in a day, that runs into billions of dollars, indeed it's not a new thing whale purchase has always been witnessed in Bitcoin history but 30k Bitcoin buy-in is such a big number and many are curious to know where the Bitcoins is going. Most especially in times of war like this that many financial sanctions have been placed on Russia and its citizens so seeing such a sudden huge Bitcoin buy will leave many suspecting where exactly such amount is going.

There's a slim chance that it's related to Russia or the billionaires there. But when a whale does this, it's just another the same normal day to us that we get to see it on the news.

Quote from: cryptoaddictchie on March 12, 2022, 02:20:08 AM

Quote from: blockman on March 11, 2022, 03:26:57 PM

It's just amazing to see the numbers but to me, I'm no longer surprise when there could even be hundreds of thousands to millions of bitcoins being purchased or sold.

Actually you are right. Ive also following that on twitter and seeing those crazy notifications. Some have been affected when they saw some depositing or withdrawing btc or usdt via bot and tend to take action whether to sell or hold. In fairness when there is a fiat notification of huge quantity some setting long order and when there is a btc of that mentioned deposited to exchange they are shorting. Typical but we can see the market response to be somehow responding too with the news.

It is just bringing them fear when they see whales are starting to send huge amounts of bitcoins to exchanges and when there's a transaction from an exchange to a wallet, that's playing their emotions. And that's why it is better to not just look at it and treat it as another day that has come with a whale buying a lot of bitcoinbs.

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Not your keys, not your coins. I guess those who withdraw such an amount of coins did believe the line. I would also be keeping that amount if I know uncertain things will come in the future. Withdrawal of an enormous amount like 10K BTC doesn't seem an indication that BTC will have a bullrun again. But I would expect the owner will dump his BTC affecting the price quickly when he finally sees a big profit perhaps by the 3rd Quarter of this year.

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Quote from: blockman on March 11, 2022, 03:26:57 PM

It's just amazing to see the numbers but to me, I'm no longer surprise when there could even be hundreds of thousands to millions of bitcoins being purchased or sold.

Actually you are right. Ive also following that on twitter and seeing those crazy notifications. Some have been affected when they saw some depositing or withdrawing btc or usdt via bot and tend to take action whether to sell or hold. In fairness when there is a fiat notification of huge quantity some setting long order and when there is a btc of that mentioned deposited to exchange they are shorting. Typical but we can see the market response to be somehow responding too with the news.

Wiwo

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Quote from: blockman on March 11, 2022, 03:26:57 PM

Always a big deal for some that keeps on track those huge transactions. This isn't new, even in bears or bulls, there has been purchases like this in the past.
So it's not a big deal anymore when we see those huge purchases and as said, there will be some huge sell offs in the future. It's just amazing to see the numbers but to me, I'm no longer surprised when there could even be hundreds of thousands to millions of bitcoins being purchased or sold.

Truly amazing to see such a huge number of Bitcoin purchases in a day, that runs into billions of dollars, indeed it's not a new thing whale purchase has always been witnessed in Bitcoin history but 30k Bitcoin buy-in is such a big number and many are curious to know where the Bitcoins is going. Most especially in times of war like this that many financial sanctions have been placed on Russia and its citizens so seeing such a sudden huge Bitcoin buy will leave many suspecting where exactly such amount is going.

blockman

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Always a big deal for some that keeps on track those huge transactions. This isn't new, even in bears or bulls, there has been purchases like this in the past.
So it's not a big deal anymore when we see those huge purchases and as said, there will be some huge sell offs in the future. It's just amazing to see the numbers but to me, I'm no longer surprise when there could even be hundreds of thousands to millions of bitcoins being purchased or sold.

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Quote from: mk4 on March 11, 2022, 02:28:32 PM

For those who are about to make decisions off purchase "events" such as this — huge purchases, huge sells, and huge wallet movements happen literally all the time that it shouldn't even be an indicator of neither bullishness or bearishness by now.

You cant stop people on having those kind of impression on which they would really be making out immediate action whenever they do see these alerts specially if there are neither huge deposits or

withdraws or various conditions which they would presume out on what would be the next movement of the price in the market without even thinking with some factors that it could just simply a whale
who do accumulate on the dip which is something that typical but as part of some analysis then these informations or alerts are still relevant but taking out action coming from this
would still give out some hesitance most of the time.

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For those who are about to make decisions off purchase "events" such as this — huge purchases, huge sells, and huge wallet movements happen literally all the time that it shouldn't even be an indicator of neither bullishness or bearishness by now.

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When price is in dip this is an expectation mostly from big investors, institutional investors and from random rich guy, and this is nothing new, besides of the buy, price doesn't affect much coz it's just like normal.

Quote from: Lucius on March 11, 2022, 12:23:33 PM

It's just a question of how much BTC is available through OTC, but without a doubt it's millions - which means there are far more who want to sell than buy.

A question that won't get old. As long as these exchanges getting large quantity of daily volume their holdings and availability to sell, it will be always be without limit and it cost millions.

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