>432109 BTC sent to 1 address, block 130281 - page 2.

k

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Quote from: cypherdoc on June 12, 2011, 06:53:56 PM

Quote from: davout on June 12, 2011, 05:27:06 PM

Quote from: Macho on June 12, 2011, 04:59:35 PM

Holy sh--

I really wonder why Mt.Gox is the only major exchange with returns like this ... if they decide to sell that off we better brace ourselves for an impact, insider info folks will have serious advantage there if they tell anyone

That's some serious Bitcoin stash.

Ugh. for the n-th time, this is mtgox's users money, not its own

what doesn't make sense to me is that your deposit to mtgox is mixed with that 17000 BTC dump by a miner yesterday. according to you, those 17000 BTC would have had to be scooped up by mtgox in that selloff and then transferred to the single address of 432K BTC's. that doesn't make sense at all.

hi cypherdoc I don't think davout's transfer was mixed in with the 17000 BTC dump yesterday (or at least he is not claiming that), but his transfer is included with in the transfer to http://blockexplorer.com/a/8d7f1vDvvw (block 130281).

you maybe getting mixed up from another link I posted above with a link to the 17000 BTC transfer

cypherdoc

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Quote from: davout on June 12, 2011, 05:27:06 PM

Quote from: Macho on June 12, 2011, 04:59:35 PM

Holy sh--

I really wonder why Mt.Gox is the only major exchange with returns like this ... if they decide to sell that off we better brace ourselves for an impact, insider info folks will have serious advantage there if they tell anyone

That's some serious Bitcoin stash.

Ugh. for the n-th time, this is mtgox's users money, not its own

what doesn't make sense to me is that your deposit to mtgox is mixed with that 17000 BTC dump by a miner yesterday. according to you, those 17000 BTC would have had to be scooped up by mtgox in that selloff and then transferred to the single address of 432K BTC's. that doesn't make sense at all.

k

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think this transaction of 280000 in block 127087 is the largest previous single transfer

http://blockexplorer.com/address/1PZjfkLZBT7Q3UFmyEWH8QtuzTMi3MUiBj

also seems connected to the 17000 that led to the big price drop yesterday and was speculated that it was an early adopter cashing out. does that mean that same person still has another 280000 BTC in MtGox?

davout

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Quote from: Macho on June 12, 2011, 04:59:35 PM

Holy sh--

I really wonder why Mt.Gox is the only major exchange with returns like this ... if they decide to sell that off we better brace ourselves for an impact, insider info folks will have serious advantage there if they tell anyone

That's some serious Bitcoin stash.

Ugh. for the n-th time, this is mtgox's users money, not its own

herbertfilby

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That's what I was thinking. I hope very much not.

k

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the transfer happened before the downtime at MtGox

transfer at 2011-06-12 12:57:20 UTC

MtGox at around 16:30 UTC http://bitcoincharts.com/charts/mtgoxUSD#rg1zvztgSzm1g10zm2g25

defxor

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Quote from: anewbie on June 12, 2011, 04:43:44 PM

Possibly there was a concern of a leak of private keys, so everything needed to be moved.

(Not sure what timezones the different times posted are in)

If it fits with mtgox going offline for a while today that sounds plausible. If they suspect their infrastructure to be breached it would indeed be an obvious action to take.

Macho

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Holy sh--

I really wonder why Mt.Gox is the only major exchange with returns like this ... if they decide to sell that off we better brace ourselves for an impact, insider info folks will have serious advantage there if they tell anyone

That's some serious Bitcoin stash.

davout

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1davout

Quote from: imperi on June 12, 2011, 04:51:30 PM

Imagine if they made a typo in the address and everything got lost. It would be very disruptive.

Can't happen, addresses have built-in checksums.

klaus

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Quote from: imperi on June 12, 2011, 04:51:30 PM

Imagine if they made a typo in the address and everything got lost. It would be very disruptive.

thats not possible

davout

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Quote from: anewbie on June 12, 2011, 04:43:44 PM

Possibly there was a concern of a leak of private keys, so everything needed to be moved.

Maybe...

Quote from: anewbie on June 12, 2011, 04:43:44 PM

Perhaps its as simple as a hosting environment change to add capacity and the desire was to make any private keys on the old server worthless.

This sounds unlikely, the wallet would just have been copied over, consolidating all the funds makes them very obvious.

Quote from: anewbie on June 12, 2011, 04:43:44 PM

In the future, a move like this may be done in multiple transactions instead of a single move.

Yea maybe, that's why it sort of looks like some sort of an emergency move...

imperi

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Imagine if they made a typo in the address and everything got lost. It would be very disruptive.

anewbie

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Quote from: davout on June 12, 2011, 04:32:52 PM

good question, from a maintenance point of view it doesn't really make sense, well it could, but then it would probably have been advertised in advance.
from a privacy point of view it's absolutely nonsensical, now everyone knows how much BTCs are in the bank, and everyone knows that hacking mtgox has a big bounty attached (well not that anyone would have doubted it in the first place, but now there's an actual figure)
if thats the full mtgox balance being moved it also means you can pretty much see withdrawals in real time for the next couple of days, that's a nice information leak.
i'd be curious to know the actual answer

Possibly there was a concern of a leak of private keys, so everything needed to be moved.

Perhaps its as simple as a hosting environment change to add capacity and the desire was to make any private keys on the old server worthless.

In the future, a move like this may be done in multiple transactions instead of a single move.

just_someguy

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I'd be very interested to see a post mortem on today's events from MagicalTux.

herbertfilby

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Hopefully nobody sneezes on the delete key, or the price of Bitcoins is going to skyrocket due to the decreased supply.

davout

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Quote from: jhansen858 on June 12, 2011, 04:14:56 PM

Well that doesn't explain how you can tell with absolute 100% certainty that it is in fact from mt.gox but I would agree they are probably the only ones with this much coin, so it must be them.

You seem to lack some understanding about the very bitcoin fundamentals.

Quote from: k on June 12, 2011, 04:17:52 PM

if davout recognized (as his own?) one of the addresses that sent money to MtGox then he could be pretty sure.

yes, finally some common sense

Quote from: k on June 12, 2011, 04:17:52 PM

the question is why is the owner moving them to a single address now

good question, from a maintenance point of view it doesn't really make sense, well it could, but then it would probably have been advertised in advance.
from a privacy point of view it's absolutely nonsensical, now everyone knows how much BTCs are in the bank, and everyone knows that hacking mtgox has a big bounty attached (well not that anyone would have doubted it in the first place, but now there's an actual figure)
if thats the full mtgox balance being moved it also means you can pretty much see withdrawals in real time for the next couple of days, that's a nice information leak.
i'd be curious to know the actual answer

k

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Quote from: jhansen858 on June 12, 2011, 04:14:56 PM

Well that doesn't explain how you can tell with absolute 100% certainty that it is in fact from mt.gox but I would agree they are probably the only ones with this much coin, so it must be them.

if davout recognized (as his own?) one of the addresses that sent money to MtGox then he could be pretty sure.

the question is why is the owner moving them to a single address now

jhansen858

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Well that doesn't explain how you can tell with absolute 100% certainty that it is in fact from mt.gox but I would agree they are probably the only ones with this much coin, so it must be them.

davout

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