Inactive BTC whale transfers $8M worth Bitcoin After 10 years Inactivity - page 2.

TheGreatPython

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Quote from: LDL on April 21, 2023, 08:11:41 PM

How come a holder did not transfer his bitcoins after being inactive for ten years i.e. in 2021 when the price of bitcoins peaked, but in today's down market why did he transfer his bitcoins?

Ref:
https://twitter.com/lookonchain/status/1649387289745977344?s=19
https://decrypt.co/137493/bitcoin-whale-moves-nearly-8m-after-10-years-inactivity

There can be different reasons why he didn't move his Bitcoins in the previous bull run when the price hit its all-time high, the very first is that he probably didn't have access to his wallet back then, or he might even have forgotten that he had bought some Bitcoins back then and still have them somewhere, but I don't think this could have been the reason.

Also, the reason for him moving some of his assets could also be something else and he may not be selling them yet, he could possibly be changing his Bitcoin storage or splitting them into separate wallets for more safety, we never know.

salad daging

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Quote from: uneng on April 22, 2023, 09:58:25 AM

Is this the reason behind the recent dump in BTC price? Well, there are many possibilities why this dormant whale has finally moved his BTCs to somewhere else. He can be just moving his holdings to new wallets or preparing to sell it.

I don't think this wallet has caused the BTC price to drop recently I assume it is there are other factors that could have caused it.
But I believe whales that are inactive by moving old BTC to be ready for sale but that's not the only conclusion we think this is all just wanting to move it or save it to a safer wallet.

Quote from: uneng on April 22, 2023, 09:58:25 AM

People are constantly changing their minds, goals and plans. Your currently "yourself" isn't the same from 2021. The same could be said about this whale. Maybe he didn't think it was a good idea to sell during the last ATH, but due to the scenario after that and personal challenges faced on his life, he might have decided to finally make good use of that big money.

If the owner of the wallet doesn't sell his BTC at his last ATH then he just wants to achieve a higher ATH in the next few years, when there is a move at a time when the price is down then this will be a different scenario I would argue maybe he just wants to break some BTC into another wallet with a specific purpose and he doesn't sell the current price even though it is said that the whale has also made a profit because he bought it at a lower price, but the fact is that other reasons are always different so the whale always has a better plan to see the next price in the future.

Cryptomiles1

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If you ask whom do I asked?
Then my suggestion towards this was like the owner has a target of holding for 10 years or more before moving any unit of it. Now he decides to sell some units so I don't think there is any big deal if someone moved his holding to other address since he felt insecure on his current address were he was holding it.
There is every chance he just decides to change address and split his investment for a better security measures imo.

uneng

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Is this the reason behind the recent dump in BTC price? Well, there are many possibilities why this dormant whale has finally moved his BTCs to somewhere else. He can be just moving his holdings to new wallets or preparing to sell it.

Quote from: LDL on April 21, 2023, 08:11:41 PM

How come a holder did not transfer his bitcoins after being inactive for ten years i.e. in 2021 when the price of bitcoins peaked, but in today's down market why did he transfer his bitcoins?

People are constantly changing their minds, goals and plans. Your currently "yourself" isn't the same from 2021. The same could be said about this whale. Maybe he didn't think it was a good idea to sell during the last ATH, but due to the scenario after that and personal challenges faced on his life, he might have decided to finally make good use of that big money.

Godday

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No one ever knew what the whales had been thinking. That is a very large number. I was thinking what if they traded by the time BTC hit ATH. But that is something that cannot be predicted. People say they are incumbents but I don't think so either because not trading for 10 years is a long figure for a long term investment.

Peanutswar

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There's a lot of possible things can be use it can be the holder just want to transfer those assets into more safe storage to make sure there can be holding for other years, or also can be bought in to other coins just to make an investment every time this kind of whale holders have their assets sell especially bitcoin it has a huge kind of impact to the market. Still ideal for kindly holding those assets for the another bull run.

$crypto$

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Quote from: sokani on April 22, 2023, 05:47:30 AM

Quote from: LDL on April 21, 2023, 08:11:41 PM

Mysterious but true, an unknown Bitcoin whale transferred 278.88 ($8M) BTC from his 10-year inactive wallet to three different addresses on Friday after being completely inactive for the past 10 years.

There are lots of reasons as to why the sudden move of the 278.88 BTC from the inactive wallet to 3 different wallets but one of the reasons that comes into my mind is that the fund could have been kept as a kind of inheritance. Maybe, it is finally been splitted into 3 amongst the 3 beneficiaries or heirs.

There has been a lot of speculation about the exit of bitcoins from old wallets but it is not certain whether the BTC will be sold or transferred to a safe place or as you said distributed to heirs and we cannot guess which one is correct because it cannot be verify accurately.

This is not the first time that I have seen that maybe there is a reason why the owner of the old wallet wants to transfer bitcoins to 3 different wallets but until now these assets are still there and not for sale, that's just my possibility.

That's a Hodler he can hold more btc for a long time.

Aikidoka

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Quote from: LDL on April 21, 2023, 08:11:41 PM

Mysterious but true, an unknown Bitcoin whale transferred 278.88 ($8M) BTC from his 10-year inactive wallet to three different addresses on Friday after being completely inactive for the past 10 years.
He originally bought and held 1,128 bitcoins in a wallet in 2012 and 2013 when the price of bitcoin was $12 and $195 respectively, but suddenly became active after 10 years and removed 279 bitcoins.

That's really common. I mean, some people bought Bitcoin pretty early and have been holding onto it for years without touching their wallets. It's normal to see people waking up after years of holding. This guy is pretty lucky since he bought a lot of Bitcoin in 2012, especially on October 12, 2012.

He bought 400 BTC, which is almost worth $11 million at the current Bitcoin rate Shocked

Typically, people only cash out when they need them urgently or move their coins to a more secure hardware wallet for safety reasons. I wish I had a time machine to go back to 2012 and buy that much Bitcoin lol Tongue

LoyceV

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Quote from: stompix on April 22, 2023, 05:03:31 AM

Interesting that here no-one mentioned the top reason Reddit users did
- 10 years in jail ? Grin

I'm still waiting for Satoshi to be released Wink

There is of course a much more likely possibility: the owner has more than one Bitcoin address, and could have been using them all those years.

Baofeng

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Let's look at what happen here: List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses [Old], specially in 2012, here.

Maybe the person is one of those who pulled out the heist that year and after 10 years just decided to move out and maybe thought that there's no more heat on that BTC. But all eyes are on those old Bitcoin addresses that has a lot and have been tracked by some entities and will be reported if it moved.

m2017

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This guy turned out to have an iron endurance, which can be envied. He had enough patience for all the negative background that had been building up all these years, to ignore it and keep holding BTC.

He probably wanted to buy a new lambo or a yacht.

That's why I sold it now, and not at the peak. Even the current sale turned out to be super profitable for him compared to the original purchase price.

Don't have to be overly greedy. You can't earn all the money. 8 mln.$ is a very big jackpot, which is a sin to complain about. Moreover, he still has 849BTC left on his balance sheet (Maybe more. No one knows how many wallets he still has).

Wexnident

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Who knows. It could've been just someone who until recently didn't know about what happened to Bitcoin, or just happened to crack the password recently due to forgetting it or something similar. The thing is we can create a lot of assumptions but without a bit more context behind it, we can't really decide on anything concrete and would only end up having assumptions on top of assumptions. There is the context of splitting it into 3 almost equal parts, don't really know what that means but I reckon it means he's planning to do something, at least a part of it, actively.

Either way dude just probably forgot an old laptop rotting in the corner of his room and decided to clean it up only to find this, is the story I'd go with.

stompix

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Quote from: NeuroticFish on April 22, 2023, 05:26:43 AM

Yep, this is a good one.
I would add: what if the original owner has died (or just thinking about death and inheritance) and now his money got split between members of his family?

Hmm, not so sure, it doesn't look like or feel like it.
He is spending full inputs and moving them into batches of ~90 BTC but not of equal value, there is a 5 BTC difference between the current 5 addresses that hold those coins, plus he would have moved them all, right? If it were an inheritance they would have done it with all of it combined, not leaving some there, and for sure not a 3-hour difference between the two outgoing tx.

Well, probably I'm inclined to think of this because that's what I would do if I were him, split it slowly and carefully into small batches, make the back-ups, split again, and then slowly erase the traces by mixing them before liquidating smaller amounts. With $40 million even if I would go through KYC and pay all my taxes and be completely legit I still wouldn't want anyone to trace my steps. Imagine making a one-time payment at a coffee shop in the neighborhood or some online store with your name and address and some employee with too much time on his hand discovering you have 1000 BTC on you!

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Quote from: LDL on April 21, 2023, 08:11:41 PM

How come a holder did not transfer his bitcoins after being inactive for ten years i.e. in 2021 when the price of bitcoins peaked, but in today's down market why did he transfer his bitcoins?

He/she is truly holder but something like this is not new sometime dormant address transfer their fortune into a new Bitcoin address format example. native segwit.

and we do don't know the truly reason is but one things is sure is not transferred to exchange address for now Grin

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Quote from: LDL on April 21, 2023, 08:11:41 PM

How come a holder did not transfer his bitcoins after being inactive for ten years i.e. in 2021 when the price of bitcoins peaked, but in today's down market why did he transfer his bitcoins?

He just moved it, didn't he? meaning he didn't lose anything for not selling it when the price reached ATH in 2021, but even if he sold it now he still didn't lose anything just didn't make any more money than he sold it two years ago.
If the BTC is still in the hands of the person who bought it then his patience pays off, and it proves that holding BTC for the long term is very profitable and probably more profitable than trading BTC.

sokani

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Quote from: LDL on April 21, 2023, 08:11:41 PM

Mysterious but true, an unknown Bitcoin whale transferred 278.88 ($8M) BTC from his 10-year inactive wallet to three different addresses on Friday after being completely inactive for the past 10 years.

There are lots of reasons as to why the sudden move of the 278.88 BTC from the inactive wallet to 3 different wallets but one of the reasons that comes into my mind is that the fund could have been kept as a kind of inheritance. Maybe, it is finally been splitted into 3 amongst the 3 beneficiaries or heirs.

NeuroticFish

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Quote from: stompix on April 22, 2023, 05:03:31 AM

Interesting that here no-one mentioned the top reason Reddit users did
- 10 years in jail ? Grin

Yep, this is a good one.
I would add: what if the original owner has died (or just thinking about death and inheritance) and now his money got split between members of his family?
Or what if somebody has read (this late, I know, but it happens) Luke's story and decided to split his funds and maybe also keep them into more secure ways (eg. HW)?

stompix

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Interesting that here no-one mentioned the top reason Reddit users did
- 10 years in jail ? Grin

Either way, even if it's about regaining aces or regaining freedom for sure it's not about the price!
If he wanted money he would have cashed out way earlier, in 2027 when the was just a bit lower and not even mentioning when it hit $60k, besides, after one hop the coins haven't moved so definitely not moved to an exchange.

Anyhow, the really interesting part is that he's not moving random sums priced in $ or rounded BTC values, he's moving entire inputs and breaking them into ~90 BTC. Wonder if he plans on mixing them.

hugeblack

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They are all hypotheses, but he is free to control his money and possible hypotheses:

- Discover a way to reach his currencies.
- He had an emergency circumstance or lost his basic work.
- He found an investment opportunity that would return it with a return of $ 8 million before the price increased.

Whether it is correct or not, it is proven that the inactive currencies are not considered missing currencies unless they are sent to a proof of burning address

Dr.Bitcoin_Strange

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OP, just as others have said, there are a lot of reasons to speak about why the holder moved their asset; it may not be that they want to trade the coin now, but maybe to a safer wallet.

The guy who owns that wallet may even be a member of this forum (just exaggerating), reading updates about Bitcoin, and also having set a dream price that can tempt them to sell, because with the historic price of Bitcoin, many are speculating for another ATH, so until they see their speculated price, they may not sell yet.

Some months ago, I was reading comments on a topic where the OP asked, "What can make someone sell their bitcoin?" There was a lot of reply by memebers here; I still can remember that one reputable legendary memeber here commented; I would not mention his name, but he said, "What can only trigger him to sell some of his Bitcoin is if he sees a price like $100k at that moment, which he can't resist but to sell just a few of his coins." With that, I know there are people here who have up to that amount of Bitcoin or even more, and they are not even ready to sell yet until they see a very tempting price.

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