Bitcoin whale 'awakens' after 10 years.

Fatunad

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Quote from: bitterguy28 on July 30, 2023, 11:46:28 PM

Quote from: tread93 on June 13, 2023, 10:00:03 PM

Quote from: balotelli on June 13, 2023, 02:07:24 AM

A Bitcoin whale account unexpectedly comes back to life after 10 years as it transfers an equivalent of $37.8 million to another wallet. Data on Lookonchain on June 8th reveals that a Bitcoin account that had been dormant for over 10 years has transferred a total of 1,432.93 BTC, equivalent to $37.8 million, to a new address named 'bc1psv'.

The last activity of this account was on April 9, 2013, during the period known as the 'Satoshi era,' when it received 1,432.92 BTC at a price of $195 per Bitcoin. This means the investor had invested $280,000 and could potentially make a profit of nearly $37 million if they decide to sell all the coins in the wallet at this time.

Currently, the intentions of the owner cannot be determined. Data from Cointelegraph shows that every previous awakening of a 'whale' has resulted in significant fluctuations in the Bitcoin market. The event has garnered attention from the cryptocurrency community due to the potential impact of the origin of these coins on early-stage participants.

Wow, can you imagine moving such a vast fortune from one of your bill folds to the new bill fold in just a matter of minutes?! Thats a lot of money to move. I wonder if this is the work of some crazy hacker, or some super rich royal. Probably Elon Musk tho fr.

Maybe it is indeed Elon Musk or some of His gang mate in whales group because i think there are only few of them that can do such action.
but what we must look into this is how fast the transaction and this is the advantage of Bitcoin or crypto in other way of transacting , Imagine with that huge amount we can send from one wallet to another wallet.

And thats be beauty of Bitcoin and this is one of the reasons on why its been that been widely recognized or having that demand and attention.

-Even how big or small amount you would be transferring then it would really be just taking up a few minutes (or depending on the network condition)
-You could make out p2p transaction
-You cant really be known in speaking about identity
-Small fee transaction compared into those money transfers out there

Speaking about awakening of wallets, then it could be neither that someone had found out their keys finally or they did really just put up that 10 year limit before they would
really be harvesting on the coins that they had invested and hold it for too long. There's nothing we can do if those whales would really be deciding on selling out their coins.
Its theirs and not ours on which it would really be expected that it would really be bring out that some significant impact in regarding the price but as long that demand and recognition
would really be there, then recovery would really be always on the line.

RalphFunk

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It only make sense for whale to withdraw at this point, which can be negative especially right now with the BTC price

bitterguy28

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Quote from: tread93 on June 13, 2023, 10:00:03 PM

Quote from: balotelli on June 13, 2023, 02:07:24 AM

A Bitcoin whale account unexpectedly comes back to life after 10 years as it transfers an equivalent of $37.8 million to another wallet. Data on Lookonchain on June 8th reveals that a Bitcoin account that had been dormant for over 10 years has transferred a total of 1,432.93 BTC, equivalent to $37.8 million, to a new address named 'bc1psv'.

The last activity of this account was on April 9, 2013, during the period known as the 'Satoshi era,' when it received 1,432.92 BTC at a price of $195 per Bitcoin. This means the investor had invested $280,000 and could potentially make a profit of nearly $37 million if they decide to sell all the coins in the wallet at this time.

Currently, the intentions of the owner cannot be determined. Data from Cointelegraph shows that every previous awakening of a 'whale' has resulted in significant fluctuations in the Bitcoin market. The event has garnered attention from the cryptocurrency community due to the potential impact of the origin of these coins on early-stage participants.

Wow, can you imagine moving such a vast fortune from one of your bill folds to the new bill fold in just a matter of minutes?! Thats a lot of money to move. I wonder if this is the work of some crazy hacker, or some super rich royal. Probably Elon Musk tho fr.

Maybe it is indeed Elon Musk or some of His gang mate in whales group because i think there are only few of them that can do such action.
but what we must look into this is how fast the transaction and this is the advantage of Bitcoin or crypto in other way of transacting , Imagine with that huge amount we can send from one wallet to another wallet.

Latviand

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Quote from: Kayaman85 on July 27, 2023, 11:16:20 AM

HODL those coins!

Nah, holding on for their only works when you have other means to make a living, never marry the bag, remember that when the price is skyrocketing, it will always correct itself and then go down and then many people end up regretting not selling at the peak price and then reinvest again and then continue hodling until the next ATH.Also, try to enjoy life a little, spend money to experience stuff that's otherwise would've been missed if you just invested all of your money on bitcoin waiting for something that takes a long time. Life isn't just about money, there's more to it than that.

I cringe a little bit when OP said something about the intentions of the whale unknown, we're not supposed to know that shit anyways, what they do with their bitcoins is none of our business, I'm pretty sure that they'll say it if they wanted us to know about it right? What's the point of bitcoin protecting your privacy when everyone in the community wants to know why you did this or did that?

bayu7adi

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Quote from: Botnake on July 27, 2023, 06:06:10 AM

Quote from: balotelli on June 13, 2023, 02:07:24 AM

during the period known as the 'Satoshi era,' when it received 1,432.92 BTC at a price of $195 per Bitcoin.

Is it already the Satoshi era? I thought the Satoshi era was the time when Bitcoin was still very cheap. This year, it's already $195 per Bitcoin, so an investor would have to invest a lot of money to buy more Bitcoins.

I believed the Satoshi era was the time between 2009 to 2010.

Do you mean the era of Satoshi, when he was still the central figure in the development of Bitcoin? If so, indeed, his presence was prominent in the year 2009.

However, deciding to invest in Bitcoin during that time was akin to investing in a startup with an uncertain future. We now know that Bitcoin has achieved remarkable success, having multiplied exponentially in size. Presently, everyone acknowledges that Bitcoin has undergone a tremendous transformation from its early days of skepticism.

Investors employ their own calculations and considerations. There are still plenty of daring investors willing to allocate their funds to assets with a slim chance of success, much like investing in Bitcoin during the Satoshi era.

Botnake

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Quote from: Kayaman85 on July 27, 2023, 11:16:20 AM

HODL those coins!

Can't hold for life if you want to enjoy your holdings, even whales understands that.

Kayaman85

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HODL those coins!

michellee

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With that news, it would raise some hope for the FUDsters to tell people and make them panic and sell their Bitcoins because people thought that would be a sign that the price of Bitcoin would get dumped by the whales. But it has nothing to do with it because the whales may want to take a share of the profits they have saved for years.

And when there is a prediction that the price of Bitcoin will rise above $100k, surely it will make the old holders of Bitcoin more interested. And if they "only" hold 50 Bitcoins, that already makes them a multi-millionaire.

So new Bitcoin holders shouldn't panic and respond casually because whatever happens, they better keep holding the Bitcoin. And if their ultimate goal is to sell Bitcoin at the next high, they should keep holding on to Bitcoin until it hits their target price.

Botnake

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Quote from: balotelli on June 13, 2023, 02:07:24 AM

during the period known as the 'Satoshi era,' when it received 1,432.92 BTC at a price of $195 per Bitcoin.

Is it already the Satoshi era? I thought the Satoshi era was the time when Bitcoin was still very cheap. This year, it's already $195 per Bitcoin, so an investor would have to invest a lot of money to buy more Bitcoins.

I believed the Satoshi era was the time between 2009 to 2010.

348Judah

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bitcoin dormant wallet comes back to life ever since 2012 check the value it hold in it.
https://twitter.com/BTCTN/status/1683130878464065537?t=cvSnMM4PCojRGInT9ILIJQ&s=19

Let's not make it as something new seing a situation whereby you see some bitcoin long time dormant wallets coming back to activeness, not only that, they also move some reason huge amount of their sats from one wallet to another, we are only oppotuned to gets updates like this because the blockchain is an open distributed ledger unlike banks whereby you can't know what transpired between other user's accounts, there's also a whale alert system that provides informationa on such occassion.

passwordnow

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Quote from: TimeTeller on July 25, 2023, 04:58:07 PM

We don't know the reasons why suddenly they are waking up after all these years.
Either they just remember their stash or silently following the market.
But no matter what the reason is, it is still part of the 21M supply of bitcoin.
So we can't say, that will have a big impact in the current market value of btc.

Well, the one reason could just be simple they're trying to get rid of it and want to take the fruit of their patience. They're no different from us as they're also people that want to take profit over all these times.

Quote from: justdimin on July 26, 2023, 01:11:01 PM

The intention is that most of them have plenty of wallets and not just one, and they use the other ones and keep a few just for saving as well, and that means they are going to end up making that active when they move it around.

Plus, even though the security of bitcoin is great, it is smarter to end up changing the wallet here and there time to time because that way nobody could hack into your system, otherwise your wallet could be hacked into one way or another, specially ones that move away from legacy address to segwit address makes even more sense to me. This is why I believe that it is not always to sell, sure sometimes it could be for selling but there are many other reasons then selling and that could be the reason.

Good point, there's the possibility that it's not for selling but for those reasons that you've mentioned. But the thing here is, we will never know until we know one or someone comes all of a sudden to be one of those owners and explain what really does with those. Anyway, they've got not obligation in doing so to appear in the public.

Quote from: WatChe on July 26, 2023, 01:51:23 PM

The best time for whales to move or cash out there Bitcoin was when it was at its ATH or above 50k. Its not confirm but there are rumors that such wallets are hacked and its hacker who moved Bitcoin to some other wallets. The question is if whale has kept his Bitcoin quite for almost decade and didn't bother to move them during 2017 and 2021 bull run they why he is moving when market is relatively bearish. This question never got answer on such movements.

If it's during this time, that's still a good timeframe as the price is much higher than 2017 but not of course on 2021. These could be just woke up wallets and owners have just remembered they own it. Well, it's really confusing but will still be ending up with the same reason of dumping or just trying to move it from wallet to wallet.

WatChe

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Quote from: passwordnow on July 25, 2023, 04:27:04 AM

We will never know the intention of a whale that comes back alive after a decade or even two. And this is becoming a typical thing when a whale comes back alive with tons of Bitcoins that have been sleeping for so many years. It just so happens that there are these monitoring bots and software that do track these old Bitcoin addresses that contain a lot of Bitcoins and anything that make them move, it's out of our business but it becomes news after all for many of these media and people that do track them. But if you're going to think of it, this isn't a real matter to think about whenever people are normally moving the Bitcoins that they've held for a long time. They're just like us despite we're not a whale.

The best time for whales to move or cash out there Bitcoin was when it was at its ATH or above 50k. Its not confirm but there are rumors that such wallets are hacked and its hacker who moved Bitcoin to some other wallets. The question is if whale has kept his Bitcoin quite for almost decade and didn't bother to move them during 2017 and 2021 bull run they why he is moving when market is relatively bearish. This question never got answer on such movements.

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Quote from: passwordnow on July 25, 2023, 04:27:04 AM

We will never know the intention of a whale that comes back alive after a decade or even two. And this is becoming a typical thing when a whale comes back alive with tons of Bitcoins that have been sleeping for so many years. It just so happens that there are these monitoring bots and software that do track these old Bitcoin addresses that contain a lot of Bitcoins and anything that make them move, it's out of our business but it becomes news after all for many of these media and people that do track them. But if you're going to think of it, this isn't a real matter to think about whenever people are normally moving the Bitcoins that they've held for a long time. They're just like us despite we're not a whale.

The intention is that most of them have plenty of wallets and not just one, and they use the other ones and keep a few just for saving as well, and that means they are going to end up making that active when they move it around.

Plus, even though the security of bitcoin is great, it is smarter to end up changing the wallet here and there time to time because that way nobody could hack into your system, otherwise your wallet could be hacked into one way or another, specially ones that move away from legacy address to segwit address makes even more sense to me. This is why I believe that it is not always to sell, sure sometimes it could be for selling but there are many other reasons then selling and that could be the reason.

TimeTeller

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Quote from: passwordnow on July 25, 2023, 04:52:09 PM

Quote from: hd49728 on July 25, 2023, 05:47:56 AM

Quote from: passwordnow on July 25, 2023, 04:27:04 AM

We will never know the intention of a whale that comes back alive after a decade or even two.

I am doubtful that it is correct if we call such woke-up bitcoins are from whale come backs. I believe that those old-era bitcoins belong to whales who have been still actively latest years. They just woke up their old-era bitcoins and use such woke-up transactions as news.

That's also probably right, they've been active and let those Bitcoins sit there over the long years and are just looking for the right timing to sell. In the end, we're no longer surprised to see that there will be inactive wallets for several years and have been active lately and especially for the next bull run.

Quote from: hd49728 on July 25, 2023, 05:47:56 AM

Quote from: satoshi on June 21, 2010, 12:48:26 PM

Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone.

With those old and inactive/sleeping wallets for so long, we will never know if they were lost already until the owner of it access it again and tries to move it to exchange. But right about those lost BTCs as what satoshi said.

We don't know the reasons why suddenly they are waking up after all these years.
Either they just remember their stash or silently following the market.
But no matter what the reason is, it is still part of the 21M supply of bitcoin.
So we can't say, that will have a big impact in the current market value of btc.

passwordnow

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Quote from: hd49728 on July 25, 2023, 05:47:56 AM

Quote from: passwordnow on July 25, 2023, 04:27:04 AM

We will never know the intention of a whale that comes back alive after a decade or even two.

I am doubtful that it is correct if we call such woke-up bitcoins are from whale come backs. I believe that those old-era bitcoins belong to whales who have been still actively latest years. They just woke up their old-era bitcoins and use such woke-up transactions as news.

That's also probably right, they've been active and let those Bitcoins sit there over the long years and are just looking for the right timing to sell. In the end, we're no longer surprised to see that there will be inactive wallets for several years and have been active lately and especially for the next bull run.

Quote from: hd49728 on July 25, 2023, 05:47:56 AM

Quote from: satoshi on June 21, 2010, 12:48:26 PM

Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone.

With those old and inactive/sleeping wallets for so long, we will never know if they were lost already until the owner of it access it again and tries to move it to exchange. But right about those lost BTCs as what satoshi said.

hd49728

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Quote from: passwordnow on July 25, 2023, 04:27:04 AM

We will never know the intention of a whale that comes back alive after a decade or even two.

I am doubtful that it is correct if we call such woke-up bitcoins are from whale come backs. I believe that those old-era bitcoins belong to whales who have been still actively latest years. They just woke up their old-era bitcoins and use such woke-up transactions as news.

Quote from: satoshi on June 21, 2010, 12:48:26 PM

Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone.

passwordnow

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We will never know the intention of a whale that comes back alive after a decade or even two. And this is becoming a typical thing when a whale comes back alive with tons of Bitcoins that have been sleeping for so many years. It just so happens that there are these monitoring bots and software that do track these old Bitcoin addresses that contain a lot of Bitcoins and anything that make them move, it's out of our business but it becomes news after all for many of these media and people that do track them. But if you're going to think of it, this isn't a real matter to think about whenever people are normally moving the Bitcoins that they've held for a long time. They're just like us despite we're not a whale.

Learn Bitcoin

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Quote from: balotelli on June 13, 2023, 02:07:24 AM

Currently, the intentions of the owner cannot be determined. Data from Cointelegraph shows that every previous awakening of a 'whale' has resulted in significant fluctuations in the Bitcoin market. The event has garnered attention from the cryptocurrency community due to the potential impact of the origin of these coins on early-stage participants.

We don't know the intentions of a random anonymous Bitcoin whale. The halving event is coming next year. He is probably preparing for the halving event and might cash some profit afterward. Or was it just a general movement, like moving from an old wallet to a new one? Both are possible. What we are doing is just speculation based on our opinion.

We don't know what is going to happen. If someone is a day trader, it is important news for them to track those news and market movement. If someone is a long-term holder, this is a regular thing for them. Such a thing will happen every week, and holders have nothing to do with it.

Uruhara

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almost every month actually I remember reading or hearing about an old bitcoin wallet that was starting to activate and start doing transaction activity. And yeah maybe this is the newest one. Previously I read about people who have experienced a long loss of consciousness (coma). And before he was in a coma he had saved bitcoin and kept it safe. and then I don't know what tragedy happened to him so that he had to lose consciousness for a long time (many years) and if I'm not mistaken a few months ago he started to regain consciousness and was released from the Coma. And he is lucky because he still remembers about saving bitcoins and keeping them safe. So when he realized he tried to reopen the old wallet he had kept. and he must be very happy because the value of the bitcoins he keeps is quite a lot and well I think he is one of the Whales at this time. I'm looking for a link that I read earlier but haven't found yet. And if I remember correctly, he also made an announcement about it on his twitter account.

bitterguy28

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Quote from: tread93 on June 13, 2023, 10:00:03 PM

Quote from: balotelli on June 13, 2023, 02:07:24 AM

.

Wow, can you imagine moving such a vast fortune from one of your bill folds to the new bill fold in just a matter of minutes?! Thats a lot of money to move. I wonder if this is the work of some crazy hacker, or some super rich royal. Probably Elon Musk tho fr.

well , it may be Him as Elon is one of the biggest investors in crypto but wondering if he is Holding such vast amount of Bitcoin? when he clearly mentioned supporting altcoin instead.
and also Hoping that this is not an act of Hackers because this will surely effect in the whole crypto once being withdrawn as this is just transferring and another act will follow,

Topic: Bitcoin whale 'awakens' after 10 years. (Read 674 times)