Topic: A Long string of transactions @ about 58 BTC (Read 1351 times)
It's change. If you have received (say) BTC1000 in one transaction and you spend BTC1 of that, you can't just spend part of it, you have to spend it all at once, so you send BTC1 to the recipient and send the remaining BTC999 to yourself (and most clients will create a new address just for this purpose). Then when you want to send another BTC1 to someone, again you send the remaining BTC998 to yourself (again, at a new address). So you end up with a chain of transactions each taking a small amount out and sending the remainder to a new address. This is perfectly normal and happens every time someone receives a large chunk of bitcoins then spends it in small chunks. There's nothing suspicious about it.
Yesterday I happened to notice a long string of transactions at about 58 BTC while looking at Block monitor. I saw one for 25,000 BTC which was interesting. However I'm curios what might have going on with this string of transactions. I noticed that the amount was getting smaller with each transaction. Was this someone trying to clean BTC?
This snap shot was taken about 19:21 1/8/2013 ET (GMT - 5:00)
This snap shot was taken about 19:21 1/8/2013 ET (GMT - 5:00)
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