it looks like there's a rough correlation (green lines) with the production of blocks.
true.
but how does a 50 BTC block correlate with a wallet transaction of 9,000 - 75,000 BTC?
Topic: Bitcoin Monitor - High-Altitude 'Snakes' - page 2. (Read 5945 times)
it looks like there's a rough correlation (green lines) with the production of blocks.
true.
but how does a 50 BTC block correlate with a wallet transaction of 9,000 - 75,000 BTC?
it looks like there's a rough correlation (green lines) with the production of blocks.
bruce wagner posted - a couple of days ago - about an acquaintance who was selling a "large" number of Bitcoin for cash only. when he says "large", i interpret that to mean into six figures.
but cash only - so i'm figuring face-to-face transfer. which would explain these odd patterns, the size of them, and why they represent wallet-to-wallet transactions.
but cash only - so i'm figuring face-to-face transfer. which would explain these odd patterns, the size of them, and why they represent wallet-to-wallet transactions.
Or it could be someone drawing interesting patterns on bitcoin monitor to draw out the conspiracy theories. 
That is an awesome idea. Would someone with enough bitcoins at their disposal write "you are all mine" in the bitcoin monitor?
Or it could be someone drawing interesting patterns on bitcoin monitor to draw out the conspiracy theories.
Do the small amounts consist of amounts like 9.11? If so then it might be a hacker laundering or botnet syphoning (see 25k hack thread) - the latter should cause a large number of new panic threads of course, unless everyone is sleeping/unaware.
Its old holders dumping blocks of BTC and trying to avoid crashing the market at the same time.
Ive suspected for two days this was happening and my guess is that MT.gox is assisting in the process.
A big holder said "I want out above 19", and now the system is being jobbed to make those trades slowly over these past days, and flatline the market.
My guess is that the order book is being jobbed, slipping the order of trades. This "trading" is far from normal.
Ive suspected for two days this was happening and my guess is that MT.gox is assisting in the process.
A big holder said "I want out above 19", and now the system is being jobbed to make those trades slowly over these past days, and flatline the market.
My guess is that the order book is being jobbed, slipping the order of trades. This "trading" is far from normal.
Just to be clear, the blue dots are peer-to-peer transactions, not exchange trades. Those are in red. So, someone is transferring to another wallet which may or may not be under their control. Given the volume, I'd guess they do own the destination since the pattern repeated so much.
I still have no idea why, there has to be a less visible way to go about it.
Its old holders dumping blocks of BTC and trying to avoid crashing the market at the same time.
Ive suspected for two days this was happening and my guess is that MT.gox is assisting in the process.
A big holder said "I want out above 19", and now the system is being jobbed to make those trades slowly over these past days, and flatline the market.
My guess is that the order book is being jobbed, slipping the order of trades. This "trading" is far from normal.
Ive suspected for two days this was happening and my guess is that MT.gox is assisting in the process.
A big holder said "I want out above 19", and now the system is being jobbed to make those trades slowly over these past days, and flatline the market.
My guess is that the order book is being jobbed, slipping the order of trades. This "trading" is far from normal.
Snakes on a Plane?
...or day trading with lots of BTC at their command... if you have a big enough block of BTC it is relatively easy to manipulate a market this small... Somebody buys 1,000 BTC and drives the price up a dollar or two, sells, and buys it when it bottoms out again. Thats what that chart looks like to me.
it's not a currency exchange though. just a transfer of btc from one address to another.
...or day trading with lots of BTC at their command... if you have a big enough block of BTC it is relatively easy to manipulate a market this small... Somebody buys 1,000 BTC and drives the price up a dollar or two, sells, and buys it when it bottoms out again. Thats what that chart looks like to me.
Someone is laundering money 
Gotta be automated transfers of large funds by sites like Mt Gox.
Maybe it's a means of moving and obscuring a large sub of bitcoins?
here is one of the addresses http://blockexplorer.com/a/97DZmCJ7mf
if you follow it back to here say http://blockexplorer.com/a/2QqrjStFBH, it's a 50000 block, then each subsequent transaction reducing it by a small (relatively) amount each time.
Not sure why?
if you follow it back to here say http://blockexplorer.com/a/2QqrjStFBH, it's a 50000 block, then each subsequent transaction reducing it by a small (relatively) amount each time.
Not sure why?
Just a quick update - 23:50 UTC the pattern has resumed.
Back to watching the 'skies'.
Back to watching the 'skies'.
I like keeping http://www.bitcoinmonitor.com/ open and looking at the transactions fly by. Been doing this for a few weeks. Recently noticed a high 'altitude' (it gets charted by how many bitcoins, so the higher you are - the larger the transaction), 'snakes' or trails of patterns that have lasted over two hours.
The pattern is quite interesting, starting below 9k then slowly arcing up past 10,000 BTC.
Here's a shot:
I have no idea what these repeating transactions mean, but I thought I'd put it out there for everyone to take a look.
Update: Could be simply coincidence, but the pattern stopped within minutes of my post... curiouser and curiouser...
The pattern is quite interesting, starting below 9k then slowly arcing up past 10,000 BTC.
Here's a shot:
I have no idea what these repeating transactions mean, but I thought I'd put it out there for everyone to take a look.
Update: Could be simply coincidence, but the pattern stopped within minutes of my post... curiouser and curiouser...
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