bitcoin bear chart - page 6. | Bitcointalksearch.org

Piper67

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Quote from: MaxwellsDemon on December 22, 2013, 05:06:53 PM

Quote from: Piper67 on December 22, 2013, 05:03:37 PM

Quote from: piramida on December 22, 2013, 05:01:35 PM

Quote from: Piper67 on December 22, 2013, 04:58:34 PM

because something makes you suspect your coins are no longer safe.

Also makes sense, maybe these just moved to a new, safer tech for cold storage. In fact that is the most plausible explanation yet, why they moved like they did.

Yeah, If those are really old coins, they were in an unencrypted wallet... would make sense to move them to Armory or a paper wallet.

A bigshot miner from 2010 leaves 120k coins unencrypted for almost 3 years?
I guess anything's possible...
Anyway, it's pretty clear they weren't moved to an exchange. Either they weren't sold, or they were sold off the market.
Either way, I don't expect this to affect market prices.

Back in 2010 the best way to secure your coins was to transfer your wallet.dat to a (possibly encrypted) USB drive, delete and shred the original file from your computer, then bury the USB drive in the backyard.

I'm not saying that this is what's going on. I'm just saying 140K from 2010, I'd want to do something to make sure they're safe.

Xiaoxiao

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The Golden Rule Rules

"You guys are all FUCKED"

MaxwellsDemon

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Converting information into power since 1867

Quote from: Piper67 on December 22, 2013, 05:03:37 PM

Quote from: piramida on December 22, 2013, 05:01:35 PM

Quote from: Piper67 on December 22, 2013, 04:58:34 PM

because something makes you suspect your coins are no longer safe.

Also makes sense, maybe these just moved to a new, safer tech for cold storage. In fact that is the most plausible explanation yet, why they moved like they did.

Yeah, If those are really old coins, they were in an unencrypted wallet... would make sense to move them to Armory or a paper wallet.

A bigshot miner from 2010 leaves 120k coins unencrypted for almost 3 years?
I guess anything's possible...
Anyway, it's pretty clear they weren't moved to an exchange. Either they weren't sold, or they were sold off the market.
Either way, I don't expect this to affect market prices.

Piper67

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Quote from: piramida on December 22, 2013, 05:01:35 PM

Quote from: Piper67 on December 22, 2013, 04:58:34 PM

because something makes you suspect your coins are no longer safe.

Also makes sense, maybe these just moved to a new, safer tech for cold storage. In fact that is the most plausible explanation yet, why they moved like they did.

Yeah, If those are really old coins, they were in an unencrypted wallet... would make sense to move them to Armory or a paper wallet.

piramida

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Borsche

Quote from: Piper67 on December 22, 2013, 04:58:34 PM

because something makes you suspect your coins are no longer safe.

Also makes sense, maybe these just moved to a new, safer tech for cold storage. In fact that is the most plausible explanation yet, why they moved like they did.

Probably owner built a bunker in iceland just for storing those Wink

He is already a wealthy man afterall, it is a certainty. Somebody who does not cash out millions for two years must have other means to survive.

o3u

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Money comes, money goes

anyone on bitcoinbubble at that time?

edit: i meant http://www.bitlisten.com/

mod edit: changed webite to non-malware infested version

Piper67

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Quote from: MaxwellsDemon on December 22, 2013, 04:34:30 PM

Quote from: Piper67 on December 22, 2013, 04:17:03 PM

Is it not possible that he or she just wanted to move coins from one address he or she controls to another? If I had 400K BTC all in one address, I'd get a bit nervous myself... I'd want some in Armory, some in paper wallets, some who knows where... but they'd still be mine.

Possible, but not likely. There were 120k coins in 28 addresses. Each was moved to a new address. So now there are still 120k coins in 28 addresses, just different addresses. No reorganisation, just a transfer.

Plus, if you thought your coins were safe where they sat since March 2nd, 2011, why change your mind now?

Hmmmm, because you misplaced the slip of paper on which you wrote the password? In other words, because something makes you suspect your coins are no longer safe.

MaxwellsDemon

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Quote from: Kj1 on December 22, 2013, 04:41:21 PM

Not for the last spike, but the previous ones in bitcoin days destroyed: isn't it a lot of people moving coins from cold storage to cash out just after a big value loss?

Probably. In fact, whenever the transaction volume goes up, bitcoin days destroyed is bound to go up too...
So the OP chart isn't much use on its own. The interesting metric is the ratio of bitcoin days destroyed / total output volume. That actually makes yesterday much more interesting: all the previous spikes in days destroyed were correlated to high output volume. Yesterday wasn't just the highest spike in days destroyed ever, it also happened on a day with below-average output volume.

MatTheCat

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Quote from: jasonjm on December 22, 2013, 03:00:57 PM

Snipped for brevity.

Excellent post and excellent thread.

Good detective work! Seeing stuff like this sends a chill up my spine.

This is one cornered motherfucker of a market!

spiderbrain

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Quote from: SuperHakka on December 22, 2013, 04:42:38 PM

answer this question honestly, drop the bullcrap for 10 seconds:

Q: if you were given the option of (A) having $200m with probablty 100% or (B) having $1bn with probabilty 20%. Which wuld you choose?

Yeah, I think you're right, I suspect that this is a big private sale. Someone wants to lock in some profilt on a scale the exchanges can't handle. I'm sure they'll still have most of their coins, and they'll have a private island too!

SuperHakka

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Quote from: piramida on December 22, 2013, 04:44:44 PM

Quote from: SuperHakka on December 22, 2013, 04:42:38 PM

answer this question honestly, drop the bullcrap for 10 seconds:

Q: if you were given the option of (A) having $200m with probablty 100% or (B) having $1bn with probabilty 20%. Which wuld you choose?

You will never be given either of this options. If you had such an option, you'd blew it when it was (C) 1$. So not applicable, it is not some scared kid moving these coins.

does not compute.. goto line 10

piramida

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Borsche

Quote from: SuperHakka on December 22, 2013, 04:42:38 PM

answer this question honestly, drop the bullcrap for 10 seconds:

Q: if you were given the option of (A) having $200m with probablty 100% or (B) having $1bn with probabilty 20%. Which wuld you choose?

You will never be given either of this options. If you had such an option, you'd blew it when it was (C) 1$. So not applicable, it is not some scared kid moving these coins.

He'd sell 28k coins for 20mil, good for just about anything in this world, if he would suddenly feel so itchy. Not much reason to move all, and definitely no reason to sell all. You don't amass significant portion of BTC economy by being stupid. There's something else going on.

SuperHakka

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answer this question honestly, drop the bullcrap for 10 seconds:

Q: if you were given the option of (A) having $200m with probablty 100% or (B) having $1bn with probabilty 20%. Which wuld you choose?

Kj1

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ok i added some 100$ and 200$ buys after reading this

Not for the last spike, but the previous ones in bitcoin days destroyed: isn't it a lot of people moving coins from cold storage to cash out just after a big value loss?

knightcoin

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Stand on the shoulders of giants

All this movements reminds me ... that

I am such Hodler ... and noting going to change it LoL .. But for some reason ... came to my my mind others hodlers in stock market like:

goog => 334.09M Shares @ 367.70B Mkt cap
msft => 8.35B Shares @ 307.21B Mkt cap

Gates actually made a plan to split his shares til get complete retired and take care about his charity foundation, now he got 5%

But for while I think I just like this google ~~shareholder~~ sharehodler here ( such funny guy http://youtu.be/nTVUagiqmPs?t=1h18m25s ) lol

GeniuSxBoY

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Quote from: MaxwellsDemon on December 22, 2013, 04:34:30 PM

Quote from: Piper67 on December 22, 2013, 04:17:03 PM

Is it not possible that he or she just wanted to move coins from one address he or she controls to another? If I had 400K BTC all in one address, I'd get a bit nervous myself... I'd want some in Armory, some in paper wallets, some who knows where... but they'd still be mine.

Possible, but not likely. There were 120k coins in 28 addresses. Each was moved to a new address. So now there are still 120k coins in 28 addresses, just different addresses. No reorganisation, just a transfer.

Plus, if you thought your coins were safe where they sat since March 2nd, 2011, why change your mind now?

Volcanoes may lay dormant for thousands of years. However, If I see and feel it tremble, I get the fuck out of dodge for a while.

Thursday

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It's the Winklevii getting out. They just found out there BIT trust is not going to be approved. Funs over.

MaxwellsDemon

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Converting information into power since 1867

Quote from: Piper67 on December 22, 2013, 04:17:03 PM

Is it not possible that he or she just wanted to move coins from one address he or she controls to another? If I had 400K BTC all in one address, I'd get a bit nervous myself... I'd want some in Armory, some in paper wallets, some who knows where... but they'd still be mine.

Possible, but not likely. There were 120k coins in 28 addresses. Each was moved to a new address. So now there are still 120k coins in 28 addresses, just different addresses. No reorganisation, just a transfer.

Plus, if you thought your coins were safe where they sat since March 2nd, 2011, why change your mind now?

keewee

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Maybe they were having a cleanup and found the bit of paper they wrote the password on... Cheesy

Piper67

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Merit: 1001

Is it not possible that he or she just wanted to move coins from one address he or she controls to another? If I had 400K BTC all in one address, I'd get a bit nervous myself... I'd want some in Armory, some in paper wallets, some who knows where... but they'd still be mine.

Topic: bitcoin bear chart - page 6. (Read 42469 times)