Address recieves 2800 BTC within 24 hours (and why we need CT and Coinjoin)

n691309

legendary

Activity: 1526

Merit: 1001

Quote from: bittrojan on April 30, 2016, 02:31:51 PM

Quote from: n691309 on April 30, 2016, 01:46:30 PM

The final balance seems to be over 5,000BTC and i think that this bitcoin address is part of an exchange, i don't think it should be panic why should someone send so much bitcoin to a single address, if the security is ok then there is no need to worry.

yes its big possibility,i never see address that have so many bitcoin transacted and have so many balance in the end,but is it not too dangerous when address of exchange got published?

Well i think people know exchanges address (maybe not all of them but at least some of them), there are pretty good users that know how to find these but if the addresses are kept in a safe environment there is nothing to worry

bittrojan

hero member

Activity: 602

Merit: 500

Quote from: n691309 on April 30, 2016, 01:46:30 PM

The final balance seems to be over 5,000BTC and i think that this bitcoin address is part of an exchange, i don't think it should be panic why should someone send so much bitcoin to a single address, if the security is ok then there is no need to worry.

yes its big possibility,i never see address that have so many bitcoin transacted and have so many balance in the end,but is it not too dangerous when address of exchange got published?

n691309

legendary

Activity: 1526

Merit: 1001

The final balance seems to be over 5,000BTC and i think that this bitcoin address is part of an exchange, i don't think it should be panic why should someone send so much bitcoin to a single address, if the security is ok then there is no need to worry.

thejaytiesto

legendary

Activity: 1358

Merit: 1014

Quote from: Hazir on April 30, 2016, 12:21:52 PM

I am little surprised that people are still confusing anonymity with privacy. Bitcoin's blockchain is not private database - it is public and available for everyone.
And now you want it to be censored to have 'more privacy'? Ridiculous.

Read the whitepaper.. it says "electronic cash"

When u have people on the internet making threads about your money movements or about this big address that might be your business's address having a lot of coins... that my friend is far from electronic cash...

So we must improve the privacy. When governments ban physical cash you better hope that those coin join and confidential transaction features are fully implemented and used by everyone..

Kprawn

legendary

Activity: 1904

Merit: 1073

Quote from: pooya87 on April 29, 2016, 11:14:37 PM

i don't know what all the fuss is all about in here, that is juast a popular address that has been working for a long time and 4800BTC balance or as your initial title before edit 1,885,514BTC is nothing for services.

when you lose it on that address, i think you are going to have a heart attack if you click on these Cheesy

https://blockchain.info/address/155fzsEBHy9Ri2bMQ8uuuR3tv1YzcDywd4 7100BTC balance - BitClub Network
https://blockchain.info/address/1dice8EMZmqKvrGE4Qc9bUFf9PX3xaYDp 1,020,331BTC received - SatoshiDICE
https://blockchain.info/address/1Mpce11eUTuP9mxyDixdFbJzPrdNEJkgB4 1,490BTC bal. - KnCMiner

https://blockchain.info/popular-addresses more Grin

That's just it... Too many people can identify services behind loaded addresses and that makes Bitcoin pretty vulnerable against attackers who can use this to identify services behind these addresses. Do

not get me wrong, when I say Bitcoin is vulnerable... it is NOT... but it helps to expose services, that might be unsafe and could be targeted, if these services are targeted and hacked. This is a two

edged sword... Too much privacy and you have the governments and the authorities on your back because it's a tool for money laundering and criminal activities and too little privacy or anonymity and

your services can become vulnerable against criminals who wants to steal your coins. Roll Eyes

Hazir

legendary

Activity: 1596

Merit: 1005

★Nitrogensports.eu★

I am little surprised that people are still confusing anonymity with privacy. Bitcoin's blockchain is not private database - it is public and available for everyone.
And now you want it to be censored to have 'more privacy'? Ridiculous.

Cuidler

sr. member

Activity: 294

Merit: 250

Quote from: Lauda on April 30, 2016, 11:46:18 AM

Quote from: Cuidler on April 30, 2016, 11:29:07 AM

Confidental Transactions or Coinjoin would not help him to get more privacy if he keep reusing the same address again and again !

Do you even know how CT is supposed to work?

The transferred ballances are hidden to the public, but the adresses are publictly available. If you reuse one address, how can it help your privacy much when using Confidental Transactions? We wont know the final ballance is exactly 4000 Bitcoins, but we still could trace all OKCoin transactions and estimate final ballance pretty well in this case.

The first step to more privacy is stop reusing the same address again and again. Sorry if it hurts your feelings how you use Bitcoin.

Jasad

legendary

Activity: 1414

Merit: 1001

= jasad =

Quote from: pedrog on April 29, 2016, 10:53:31 AM

People get way too excited with so little...

yes its should not published,i also think people with smaller amount also feel happy,but interesting to see the address with so many bitcoin,just inspiring us for more doing many things for more bitcoin.

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

Quote from: pereira4 on April 30, 2016, 09:37:41 AM

Lol dude, gmaxwell is smarter than both us

No, I've already told you not to include me in these statements (as you don't know me, and barely "know" Maxwell).

Quote from: pereira4 on April 30, 2016, 09:37:41 AM

Stop thinking Bitcoins privacy is good enough otherwise we would never improve it with that mentality.

Wrong. It is not a urgent problem and can wait. Besides, Bitcoin can not become 100% anonymous (if this was possible) if you want it to remain legal. Don't you think that there are more urgent things to do?

Quote from: Druze on April 29, 2016, 10:36:50 PM

this is a little misleading because it is no where near the final balance

It was very misleading.

Quote from: Cuidler on April 30, 2016, 11:29:07 AM

Confidental Transactions or Coinjoin would not help him to get more privacy if he keep reusing the same address again and again !

Do you even know how CT is supposed to work?

Cuidler

sr. member

Activity: 294

Merit: 250

Confidental Transactions and Coinjoin could help you make your Bitcoins less trackable, but it come down to end user how much info he gives.

Seriously, the address in the OP is so much reused (over 1 M moved through the adress with final balance just few thousands), which mean owner of this address dont care about privacy at all - Confidental Transactions or Coinjoin would not help him to get more privacy if he keep reusing the same address again and again !

pereira4

legendary

Activity: 1610

Merit: 1183

Quote from: Wendigo on April 29, 2016, 03:48:17 PM

Why are you people getting excited about some Bitcoin address containing millions of dollars? So what it's probably some company's hot wallet. What are you going to do by investigating these transactions? It's not like you are going to steal their coins or something. Should we go snooping around Cristiano Ronaldo's bank accounts because he drives a car for 1 million dollars as well? Oh yes he probably has half a billion in there already Grin

People will always do that as long as they can't. And we can't spy on Cristano Ronaldo's finances because banks don't make it public. Meanwhile Bitcoin shows amounts of money being moved a click away, that's why we need improvements like CT and CJ.
If Cristiano Ronaldo ever used Bitcoin, and someone made public Cristiano Ronaldo's Bitcoin address, just one address linked to Ronaldo would cause 100 Reddit threads of people speculating about it (and once a Bitcoin address is attached to your real name, is attached to you forever. Sure, it's pretty useless as soon as you make a joined transaction somewhere else like on a exchange or run it through a mixer, the problem is precisely that you need to run stuff through exchange's hot wallets or mixers to de-attach yourself from that address to stop being traced. This should be done at a protocol level without the user even being aware about it, so newbies can enjoy privacy too without getting an headache about how they move their coins.

pereira4

legendary

Activity: 1610

Merit: 1183

Quote from: Lauda on April 29, 2016, 12:21:41 PM

Quote from: Enjorlas on April 29, 2016, 11:37:50 AM

Yes it has. Did you go to the link?

No, it hasn't. Do you even know that website works? They just have a lot of transactions of lesser value that have totaled ~1.8 Million.

Quote from: pereira4 on April 29, 2016, 11:42:20 AM

My argument is that bitcoin does indeed have a big lack of privacy due the fungibility problem,

'Big lack'? No. Frangibility is indeed a problem, but not something that I'd call big/huge else that would be the main priority (which it isn't.

Quote from: pereira4 on April 29, 2016, 11:42:20 AM

the fact that smarter people than us that know the protocol better than us like Greg Maxwell agrees with this only further proves my point. But like I said before, they are working to improve it.

"Smarter people than us"? I'd rather that you not put me in the same bag as yourself or the other people that fall under your usage of "us".

Quote from: Cynocephalus on April 29, 2016, 12:15:02 PM

It would be a very pleasant experience to hack this address..And probably many machines right now trying this..

No. Read the previous posts.

Lol dude, gmaxwell is smarter than both us convinced at least when it comes to programing and knows Bitcoin better than us, and he agrees with the fact that Bitcoin has a fungibility problem which is already being addressed with solutions like CoinJoin and Confidential Transactions. Stop thinking Bitcoins privacy is good enough otherwise we would never improve it with that mentality.

calkob

hero member

Activity: 1092

Merit: 520

That is some serious doh..... Grin

silentkiller

full member

Activity: 210

Merit: 100

Quote from: pereira4 on April 29, 2016, 10:35:03 AM

https://blockchain.info/address/1FXqE2ixnnSB1kvwbMtWma5xQ2bVbkSq3f

Wow look at that shit! how much money is that? crazy. And the address doesn't stop receiving more and more coins! everyone is speculating already. Some people has been doing research and one theory is it may be a OKCOIN cold storage address, but why wouldn't they split accross other addresses to not create a millionaire address which always raises the eyebrows of curious people and in general? I mean it's pretty crazy.

The fact that there's a lot of people talking about this right now and investigating proves the quick need of Confidential Transactions and Coinjoin. Imagine if it was your business and everyone was speculating and researching on your money movements! Please Core devs give us more privacy soon!

That is a huge amount, wish i have that btc on my wallet, if i have i can live a happy life.. Back to topic.
Probably transactions came from a trading site.

pooya87

legendary

Activity: 3444

Merit: 10558

i don't know what all the fuss is all about in here, that is juast a popular address that has been working for a long time and 4800BTC balance or as your initial title before edit 1,885,514BTC is nothing for services.

when you lose it on that address, i think you are going to have a heart attack if you click on these Cheesy

https://blockchain.info/address/155fzsEBHy9Ri2bMQ8uuuR3tv1YzcDywd4 7100BTC balance - BitClub Network
https://blockchain.info/address/1dice8EMZmqKvrGE4Qc9bUFf9PX3xaYDp 1,020,331BTC received - SatoshiDICE
https://blockchain.info/address/1Mpce11eUTuP9mxyDixdFbJzPrdNEJkgB4 1,490BTC bal. - KnCMiner

https://blockchain.info/popular-addresses more Grin

Druze

member

Activity: 98

Merit: 10

this is a little misleading because it is no where near the final balance

richkellj

hero member

Activity: 756

Merit: 500

Quote from: 27QVUTZj8rgZP1 on April 29, 2016, 02:59:09 PM

Imagine how many people are brute forcing that address now... Soon, it will be "hacked".

Wont be hacked, if he transfers it in some other different wallets

fenican

hero member

Activity: 1394

Merit: 505

Quote from: DomesticTrader on April 29, 2016, 08:42:03 PM

How can gold be better then bitcoin if there is more revenue in the gold market, more trust from the public and investors?

Can you send gold almost instantly to someone halfway around the world who has no physical address? You can send him Bitcoin if he has ever given you a public virtual address.

mkc

hero member

Activity: 517

Merit: 501

I think this proves that Bitcoin can not be used as money laundary method because t is wide open. Anybody can see it.

DomesticTrader

sr. member

Activity: 252

Merit: 250

How can gold be better then bitcoin if there is more revenue in the gold market, more trust from the public and investors?

Topic: Address recieves 2800 BTC within 24 hours (and why we need CT and Coinjoin) (Read 2339 times)