Topic: 5,000 BTC from Satoshi-Era Wallet Moved - page 3. (Read 1007 times)

As others have said, it’s really not that unusual. It’s also not Satoshi era, I’m seeing 2013 as the first transactions. Lots of early adopters still around with fat stacks of bitcoin. Admittedly that is a really big stack but these people do walk amongst us

you do have a choice.
like if you know your countries fiat laws have a policy that amounts of $100k defacto cause a CTR report to be sent where its a top tax office threshold that would trigger a full on deep investigation with the top IRS team.
then you would split funds into sub $100k amounts. to not be watched by the higher up teams of investigators

EG avoid:
you cashing out 5000btc $100m (causing massive investigation on you) where you have to supply lots of info..
you then splitting $100m fiat into lots of over $100k amounts to pay to customers

instead. inside bitcoin
you split the amounts into sub $100k amounts
move then to separate addressses. and have the customers shuffle things about in bitcoin and then exit via different exits themselves. so they dont trigger CTR reports on the customers.

so when paying out to different people this year you are only paying out sub $100k amounts to people thus not generate dozens of CTR reports. against you.
because its then those users who are doing the exits of under $100k individually. instead of you as a lump sum or fiat splits to then pay people

.. and if users are smart. they can declare those amounts as funds for [insert tax loophole] so they pay no tax on those amounts..

something you cannot do if you just exited with $100m in one lump and then done shuffling in the fiat arena to pay out to people

Nearly everyone's using bitcoin is a suspect, according to FATF. According to this paper, if you use anonymous communication (Tor or VPN), or if your IP isn't whitelisted, or if you gamble, or if you try to withdraw your money off the exchange, or use more than one cryptocurrency, or just do self-custody; in all these cases, you're a red flag according to anti-money laundering fantastic nonsense.

In other words: If you use bitcoin, you're guilty until proven innocent.

So I have to go to the bank, prove who I am, have my ID checked, have the cashier produce a check, have it signed, have it countersigned, send it to the other person, they have to take it to their bank, have it checked by their bank, arrange with yet more third parties to actually transfer the funds, the list goes on. That's a lot of third parties who need to agree to the process, any one of which could decide to deny my request.

With bitcoin, I make a transaction, I sign it, I broadcast it. Done. There is no one to deny me anything.

Exactly! The beauty of bitcoin. Can't do that with a bank.

Or just trade peer to peer.

well but we dont know who the owner of the other address is for sure though so it may not be just sending it to himself. it may be sending it to someone else.

well yeah i agree if you have your money in bitcoin then you would want to pay in bitcoin rather than convert it into fiat and then pay. but if the person you're paying wants fiat then you don't have a choice. and if they want fiat then at some endpoint, someone is going to be showing an ID. want fiat? show an ID.

It is possible that this moved bitcoin is the bitcoin that was stolen from the exchange several years ago and has been frozen until this time, it is also possible that this wallet is the wallet of Satoshi or maybe one of the unknown people who bought bitcoin in the early days long ago, there are several hypotheses And no one can know exactly, this is what makes Bitcoin so special, maintaining privacy with transparency.

if i wanted to move my hoard from one address to another... none of that.
i dont even have to put my shoes on..

..let alone not need to get value transferred from
digital currency->paper currency(check)->digital currency
which generates CTR and requires ID and yep takes 2 days to clear
(only amounts under $5.5k are same day no ID depending on bank)

you will find cashiers checks are actually more variable/complicated

Ever heard of a cashiers check? https://www.investopedia.com/best-ways-to-get-a-cashier-s-check-4590106

That's all they would need to do. Bring ID to the bank and pay the cashiers check fee. Everything has a fee for sending, even bitcoin.

Which is why people use bitcoin for illegal purposes so that they can skirt the law. Not everyone uses bitcoin for illegal reasons though but that's one of the arguments against bitcoin and it's so called anonymity. In a sense it is understandable because it decreases frictions associated with things like money laundering, terrorism etc. On the other hand, politicians like to use those phrases to take away peoples' freedoms.

cool!

that's even more cool. i wish i could point to a use that i have like that and say "bitcoin make this thing easier and less costly to buy using it than it does with fiat." i'm not there yet but maybe oneday.

if someone values their bitcoin, they'll probably always keep at least a small stash of it. just like they would if they were a precious metals afficionado.

the 24 hour volume is about 1.8 million btc i looked it up. kind of suprised it is that large. its like 10% of the bitcoin supply changed hands every 24 hours.

using common sense.

if i was a holder of 5000coin(more then this in other stashes i own for many reasons)
lets say i was also a mining pool and/or exchange (lets say i was houbi)
(im not houbi, im using hypothetical common sense narrative)


i hoard coin over X years from profits of many reasons. trading/exchange, investing/mining but recently due to some reason its time to pay out some of the mining rewards of old users/investors wanting to take their shares/splits
of investment i was custodian of for a long time

so i grab a stash i have (just happen to be a 2013 stash)
i break it up into allotments of blockrewards minus fee's (47.9826209) from an old excel sheet of old blocksolves i logged and kept for accounting reasons
for the numerous blocks that my pool solved ages ago

i then split them coins up to pay out to mining owners that got shares in my pools activity

also another hypothetical.
they dont want to move around amounts of more then $100k to users/people

---

that said.
rather then all of the speculation that 5000btc is being thrown into the market as 1 lump to tank othe price (never happened) its actually appears to be a movement from cold to hotwallet. and then split apart to give payouts for many allotments going different places

Has someone an explanation for these several 47.98469209 BTC in the output of the 5000 BTC? Check the transaction: https://explorer.viawallet.com/btc/tx/0219d5bd944889a670687ffdf75e2d265b6066a355118eedd860a6aeb6f2eb32

i have a hoard from the 2012 era. and the 2013 era. (and other era after that)
oh and i buy real life stuff with bitcoin.
food, furnishings, tools, gadgets, travel, transport.
i have no desires to just exit in a large mass market sell off.. thats just shooting self in the foot

also 5k coins is not a big deal in the scope of millions in volume. its a blip on the scale. a small wiggle in the scope of market prices


though i am a realist and dont fear mentioning bitcoin flaws. i still use and prefer bitcoin more than fiat. for many reasons. i dont need to spout out exaggerations of bitcoin utopia(over-promising/lying by exaggeration). i do however also avoid exaggerating pretending bitcoin is dead/not fit.

bitcoin is functional with a mass of opportunity and utility and purpose. even if it is currently a lil stifled by some dev politics games currently

its open fair minded realist thoughts of both good and bad. so that people have the whole information.
...
i dont see bitcoin as a "price"... the market "price" is meaningless to me. this is not the same as not caring. its just that the whims of daily price activity are not worth crying about.
EG when the PRICE dips. thats not a warning to start crying. thats a opportunity to buy at a discount of future price.
when the price moves by 5%. i dont care if its going up or down.
i have both fiat and bitcoin.
a 5% up, is a oppertunity to sell a chunk to increase fiat reserves for later buys
a 5% down, is a oppertunity to buy a chunk to increase btc reserves for later sells

i personally away from an exchange, use and prefer to use bitcoin for daily activities. but inside an exchange, ..market price movements of both up and down are not reasons to cry or be upset. they are just opportunities to increase reserves of one side or the other. its not about trying to pump a price
its not about trying to dump the price

The whole point of a dust attack is that the attacker hopes that people will spend/consolidate dust outputs from two or more different addresses together in the same transaction, thereby providing a high degree of certainty that those two addresses are linked together and owned by the same person or entity. Since the transaction you linked spends many dust outputs all from the same address, then there is no privacy leak here and the attack gains no knowledge about any other addresses this person/entity owns.

If the user in question here wanted to move $100 million in fiat from one bank account to another, how much paperwork do you think they would need to fill in for their bank? How many people would they need to speak to and get permission from first, both at their bank and the receiving bank? How many third parties would need to sign off on it first? Now consider the same situation in paperwork. How much paperwork did this person have to complete before making this bitcoin transaction? Exactly zero. And how many third parties did they need to speak to and get permission from first? Exactly zero.

There are many wallets which have been dormant for years and suddenly they move some coins so it's not a big deal at all as you if you check for such addresses you will find coins movement from one wallet to another after so many years and that also with big amounts.They have acquired btc at cheap rates and now they see huge profits in them so they might have some plans but we can't account for each of them.

It's strange that they didn't have any movement when BTC was over 50k... 

That's the beauty of Bitcoin. I see a lot of people saying what is the value of Bitcoin, i say ask this fellow, he will tell you better. I think the time he would have bought it, it might would havr costed him a few thousand dollars and now he is making big profit out of it after so many years. And it's his money let him do as he desires.

Well, money gets confiscated from people all the time, fiat I mean. Go on a plane and don't declare your large sum of money and guess what? you don't own it anymore. You have to declare it. Let people know you have it. So how you are describing is like a perfect utopia that ignores how things work in the real world. Only in imaginary bitcoin land do they maybe work that way until you try stepping out into the fiat world. You can't do anything you want "without any input or interference from third parties" not in the real world, only in your imaginary bitcoin land maybe.


do you have a link to a story about someone doing that recently? i didn't think so. and if they did then don't you think someone has some serious taxes to pay? and wouldn't the government want to know who they are? the seller and buyer.

There are many people in the Bitcoin community, those who have a great concern about Satoshi's Stash of Bitcoin. Some of them are trying to find out if they can hack those old BTC Address. So they will become rich quick. This is a kind of stupidity, what we can say.

If Satoshi want to move his Bitcoin he will do it after getting advise from Bitcoin community and other Bitcoin big business men. He will not do anything nonsense.

Anyway, I can assure you that if he want to move his Bitcoin to another address for security or for selling, he will definitely inform  me first with a signed message. Now you are going to say, "who do you think you are ? Are you Satoshi's  twin brother ? "  Well, I am the only Digital Monk here in the  Bitcoin Talk Forum. So, please trust me, when Satoshi come back from his time traveling, he will inform me that he has returned. So please be patience !  I will inform the Bitcoin community, when he come back.

6 months ago discovered the chapter "lost/damaged wallets/passwords/keys" in the Bitcoin world. Since then looking for stories, wallets, transactions that are connected with such addresses. So found also this address. But so far no clues whether it's a recovered wallet. I must say there are so many fantastic stories (but also lot of fake wallets, damaged keys). I hope that people who lost their keys can be able to get their coins one day.

What accounts for the fact that 1,000 other users moved more than 1 BTC today?
Nothing!

Just because someone has held lots of BTC for many years shouldn't mean that he or she is first supposed to explain to use why they are moving the BTC 

Another transaction with 5,000 dormant Bitcoin  from 7y ~ 10y age band
https://www.technopixel.org/10-thousand-bitcoins-awakened-after-7-years-is-selloff-coming/

This origin (~21000 BTC) is moving all their coins.

One funny detail:

transaction 0219d5bd944889a670687ffdf75e2d265b6066a355118eedd860a6aeb6f2eb32
https://explorer.viawallet.com/btc/tx/0219d5bd944889a670687ffdf75e2d265b6066a355118eedd860a6aeb6f2eb32
1 input ~5000 BTC
171 outputs, several outputs with exactly 47.98469209 BTC