Just found a person selling about 44,000 Bitcoins in localbitcoins

HarHarHar9965

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Quote from: bojan92 on July 31, 2015, 09:30:05 AM

Maybe the person already has the bitcoins for a long time and he made a really great profit. Bought them for a double smaller price. So now he wants to try the cake and start something new with the earn money

Its really stupid of the person to give up and not hol btc anymore just because he has held it for long and watns to try the cake. If we are looking at transactions, they will always seem anonymous and pretty much impossible to track. Although I don't really advise on holding on those 44k bitcoins for the rest of your life but selling it all away is something which I feel really bad about. There's a lot of opportunities which come your way if you have 44k in bitcoins man

valiz

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BTC trader

https://localbitcoins.com/ad/207261/sell-bitcoins-for-cash-amsterdam-netherlands

Now he is in the Netherlands looking to buy a lot of coins

Seems he buys them cheap in the Netherlands and sells them expensive in Dubai. Makes a lot of sense Grin

AtheistAKASaneBrain

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Quote from: bojan92 on July 31, 2015, 09:30:05 AM

Maybe the person already has the bitcoins for a long time and he made a really great profit. Bought them for a double smaller price. So now he wants to try the cake and start something new with the earn money

Well, he's already lossing money. Price when OP created the thread was $235. Right now is 285$ and going up.

If he sold back then he did $10.340.000
If he sold now he could have gotten $12.540.000
He has lost $2.200.000 by being an impatient panic seller, and he has lost the opportunity to have 100 million dollars in the future. If he sold ALL of his Bitcoin he's simply an idiot. You always hold Bitcoin no matter what.

bojan92

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Maybe the person already has the bitcoins for a long time and he made a really great profit. Bought them for a double smaller price. So now he wants to try the cake and start something new with the earn money

techgeek

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Quote from: Slark on May 19, 2015, 11:54:57 AM

This situation is nothing rare. There are some crazy rich people living in Dubai, this is normal for some rich men to have assets of different currencies even Bitcoins.
He is using localbitcoins so he can remain anonymous probably as exchanges need some form of validation and credentials. My guess is that he bought bitcoins for anticipation of huge price rise but now got tired of waiting for it...

sounds about 90% of us lol.

And he probably did need some form of cash to buy out a company or something. With that amount of money, its either for a large purchase or he just sees his money could be making a huge form of interest based on just playing the waiting game which I think he prob consider doing. Not that he needs it or anything.

NorrisK

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If he is just trying to make some money by selling higher and buying on an exchange when needed, why did he put 44,000? Quite an odd number isn't it? Why not 50k?

Slark

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This situation is nothing rare. There are some crazy rich people living in Dubai, this is normal for some rich men to have assets of different currencies even Bitcoins.
He is using localbitcoins so he can remain anonymous probably as exchanges need some form of validation and credentials. My guess is that he bought bitcoins for anticipation of huge price rise but now got tired of waiting for it...

Amph

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Quote from: BTCevo on May 19, 2015, 08:07:00 AM

Quote from: Gyfts on May 18, 2015, 05:23:27 PM

What type of scam his he running? I refuse to believe someone will sell 13.5 Million USD in Bitcoin through Local Bitcoins...It's in Dubai though, lots of rich, careless, people there.

Why you judge scam? I think he wants to quit bitcoin and get his money out from this because he already got much profit from it and wants to open some business or anything else using this money. I dont think he is a scammer, there are many people that have more than 50k bitcoin but they still want to keep it for long term. All of them have their own reasons and their own thoughts so dont randomly judge people

i don't think he want to quit, usually those rich guy, don't want to quit ever, they want always more, they are attached to money like it is foods, he want to sell because he believe the market will crash(and he will help it with that amount...), then he will buy even more

i doubt he is all-in, he probably hold more than 44k

JLynn171

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Well if i had more bitcoins than i could really ever possible use to purchase things or gamble with online, i would always have them up for sell, worst case ya sell em all and buy more... Huh

? who knows he may just got in early and those are the ones he mined off his laptop

Troonetpt

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I believe he want to keep his anonymous, he did'n want to show himself.

boumalo

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Quote from: torrentheaven on May 12, 2015, 07:22:23 AM

Quote from: Kupsi on May 12, 2015, 07:18:43 AM

He wants 310 USD / BTC, so he just buy on an exchange and sell on Local Bitcoins.

That can be true, but I'm wondering why a person would sell 13.5 Million USD worth Bitcoins as per his trade when he can wait for few more months or years and have the price go up and make ton of profit like say double or triple, make 50 million USD or something.

Maybe he has 88k BTC and needs some cash or he wants to make a big trade and he will buy back on exchanges.

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Quote from: Gyfts on May 18, 2015, 05:23:27 PM

What type of scam his he running? I refuse to believe someone will sell 13.5 Million USD in Bitcoin through Local Bitcoins...It's in Dubai though, lots of rich, careless, people there.

Why you judge scam? I think he wants to quit bitcoin and get his money out from this because he already got much profit from it and wants to open some business or anything else using this money. I dont think he is a scammer, there are many people that have more than 50k bitcoin but they still want to keep it for long term. All of them have their own reasons and their own thoughts so dont randomly judge people

Possum577

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Quote from: torrentheaven on May 12, 2015, 07:22:23 AM

Quote from: Kupsi on May 12, 2015, 07:18:43 AM

He wants 310 USD / BTC, so he just buy on an exchange and sell on Local Bitcoins.

That can be true, but I'm wondering why a person would sell 13.5 Million USD worth Bitcoins as per his trade when he can wait for few more months or years and have the price go up and make ton of profit like say double or triple, make 50 million USD or something.

Someone offering to buy bitcoin at his 30% markup is a sure thing that can happen today, hoping the BTC price goes up in the next few years is not.

mrhelpful

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Quote from: Gyfts on May 18, 2015, 05:23:27 PM

What type of scam his he running? I refuse to believe someone will sell 13.5 Million USD in Bitcoin through Local Bitcoins...It's in Dubai though, lots of rich, careless, people there.

Most likely if the dudes legit, could be a oil baron lol.

5th generation prince, etc. They can afford to being careless, they will ever feel the financial loss due to their gold lambos and ferraris they drift for fun.

I thought you need a balance to even post the Ad like on localbitcoins.com right? Id never prob reach that amount of money in my life time.

Gyfts

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What type of scam his he running? I refuse to believe someone will sell 13.5 Million USD in Bitcoin through Local Bitcoins...It's in Dubai though, lots of rich, careless, people there.

Bitcoin Explorer

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Quote from: Xialla on May 12, 2015, 07:25:39 AM

Quote from: torrentheaven on May 12, 2015, 07:22:23 AM

That can be true, but I'm wondering why a person would sell 13.5 Million USD worth Bitcoins as per his trade when he can wait for few more months or years and have the price go up and make ton of profit like say double or triple, make 50 million USD or something.

uhh simply because he don't have them. He had just acc on some exchange, some BTC on stock and in case of needs, he will transfer fiat to exchange and sell it again.

you know what? at 310$ I can sell you unlimited amount of bitcoins..

)

exactly, he can rinse and repeat buy low @ exchange and sell on localbitcoins.

leen93

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Quote from: Xialla on May 12, 2015, 07:25:39 AM

Quote from: torrentheaven on May 12, 2015, 07:22:23 AM

That can be true, but I'm wondering why a person would sell 13.5 Million USD worth Bitcoins as per his trade when he can wait for few more months or years and have the price go up and make ton of profit like say double or triple, make 50 million USD or something.

uhh simply because he don't have them. He had just acc on some exchange, some BTC on stock and in case of needs, he will transfer fiat to exchange and sell it again.

you know what? at 310$ I can sell you unlimited amount of bitcoins..

)

i want 100 million bitcoins Cheesy

r1f696

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Quote from: johnyj on May 12, 2015, 05:19:55 PM

I remember during 2013 spring, some one from Dubai ordered tons of KNC jupiter, maybe this is the result of that operation Grin

But wait, for a cash trades you can sell any amount, even 1 million bitcoins, so this does not say a lot

more lol

i think maybe he got that rate , and this is not really surprising, there a lot of people sell btc with an irrational amount but its true

kevin1234a

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DUBAI SHEIKH can do anything for FUN

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Quote from: torrentheaven on May 12, 2015, 07:16:18 AM

I just bumped into this person to find out that he is selling about 44,000 bitcoins for cash in Dubai, When the price are low, why does he want to sell such huge amount of bitcoins? your thoughts and opinions?

https://localbitcoins.com/ad/40269/buy-bitcoins-with-cash-dubai-united-arab-emirates-dubai-united-arab-emirates

It can be a huge deal if someone falls for the trap. There is always clueless people out there. I remember when I was and didn't know better I almost buy from some seller that was buying a lot higher than market price.

Then again, in this case if he offers physical operation, it would be worth paying the extra for the privacy that physical operation gives you vs transference.

Topic: Just found a person selling about 44,000 Bitcoins in localbitcoins (Read 3796 times)