Topic: Inactive BTC whale transfers $8M worth Bitcoin After 10 years Inactivity - page 3. (Read 495 times)
April 22, 2023, 01:46:09 AM
Having transferred a large sum of Bitcoins does not mean that he has converted them into shitty Fiat. There could be many causes, perhaps your wallet is compromised and you thought of securing them or it was really compromised and you lost them completely or you switched to a hardware wallet and split into 3 different addresses... in short, really impossible to know .
April 22, 2023, 12:32:20 AM
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?
There could be a lot of reasons most of which have nothing to do with the market.For example one reason would be to change wallet. For example I have some coins from back in 2014 that I haven't moved to this day (that is also close to 10 years), I have a plan to set a new wallet up using a brand new USB disk (ie. a cold storage with Ubuntu and Electrum) and using the new address format (P2WPKH) and send them there and also claim some of the shitcoin airdrops. I haven't had the time to do it yet though.
April 22, 2023, 12:11:44 AM
Someone just got out of prison after 10 years and then cash out his stash, Lol.
But who knows, your guess is as good as mine, maybe he just stumbled upon a old laptop and then see the private key and mnemonic phrase. And that is a long HODL though and it's just surprising that someone will suddenly move it when we are not even in the bull run.
The prison scenario seems like one of the more-likely ones to me. There are 100 other possibilites, from someone finding an old harddrive with the keys to being in need of some quick cash-flow for an unexpected reason.But who knows, your guess is as good as mine, maybe he just stumbled upon a old laptop and then see the private key and mnemonic phrase. And that is a long HODL though and it's just surprising that someone will suddenly move it when we are not even in the bull run.
However 280 BTC isn't a massive amount that would have any huge impact on the market at all.
Also, regarding your question about cashing out in the current market situation: I don't think the market is THAT bad right now, it's still up over 75% from recent lows, so if you know you need the cash within the next 6 - 12 months, now seems like a reasonable time to cash-out (even though I think going doller-cost-average over a period of a few months is usuall the better way).
April 21, 2023, 10:30:37 PM
Someone just got out of prison after 10 years and then cash out his stash, Lol.
But who knows, your guess is as good as mine, maybe he just stumbled upon a old laptop and then see the private key and mnemonic phrase. And that is a long HODL though and it's just surprising that someone will suddenly move it when we are not even in the bull run.
But who knows, your guess is as good as mine, maybe he just stumbled upon a old laptop and then see the private key and mnemonic phrase. And that is a long HODL though and it's just surprising that someone will suddenly move it when we are not even in the bull run.
April 21, 2023, 10:29:27 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?
We can not step in shoes of that whale but everything is possible and my guess is he can move his bitcoins to a new wallet. Years ago, we did not have multisig wallet but now we have it. If that whale feels like a multisig wallet is better than a single signature wallet, he could make his decision to change his way for bitcoin storage.If it is not related to cash out, it's very possible like the reason I guessed.
April 21, 2023, 10:06:29 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?
As colleagues have said, we can't know, but getting the high point of a bull market right is very difficult, and I remind you that back then, we all expected the peak of the cycle to be much higher. $150K ATH was a bearish prediction for what was being said at the time.
Now you may be short the money, is what I would imagine. By transferring to 3 addresses he is probably not going to spend it all but at least one of them is still HODLing, but this is just a guess.
April 21, 2023, 09:33:25 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?
No one know except the person who owns the funds but we might speculate something out of this. One of which is the possibility of the person needing a fund to pay for something if the movement is to sell the Bitcoin and convert it to fiat. Another reason would be he is just moving some part of the fund on different address for safekeeping. But whatever the reason is, it is not the first time we heard of a long time idle coins to be moved and sold at the market.
April 21, 2023, 09:05:37 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?
We've seen many of them in the past and this is no longer a surprising act that there are dormant accounts that have became alive lately whether it's bearish or bullish trend. Well, the bearish trend pass 2021 is no longer that bearish at all if these bitcoins were accumulated 10 years ago or even just after 5 years ago. A lot of things have changed especially the pricing so, if they want to sell and come back to those forgotten accounts that used to be held by them, it's now profit taking for them. And to those that have been promoting HODL, this is what actually HODLing is.
April 21, 2023, 08:31:35 PM
Who would know? Your guess is as good as mine. It's possible that the owner has finally just gained access to it. Or he/she finally decided to move the funds to a much safer storage, or perhaps even sell them.
But this isn't new. Every once in a while there's a dormant wallet that suddenly becomes active after a decade or even more. I think it was last year when a wallet containing hundreds of Bitcoin suddenly woke up after 11 years. The last time the wallet was active was when Satoshi was still active.
But this isn't new. Every once in a while there's a dormant wallet that suddenly becomes active after a decade or even more. I think it was last year when a wallet containing hundreds of Bitcoin suddenly woke up after 11 years. The last time the wallet was active was when Satoshi was still active.
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.
Here's it transferred explorers..
https://bitinfocharts.com/bitcoin/address/12At4GGP8J5p4MtdjNy1SPSkqKEM1mw2FS
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
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.
Here's it transferred explorers..
https://bitinfocharts.com/bitcoin/address/12At4GGP8J5p4MtdjNy1SPSkqKEM1mw2FS
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
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