More than 608k BTC was moved from dormant wallets! - page 2.

o_e_l_e_o

legendary

Activity: 2268

Merit: 18697

Quote from: 1Referee on December 18, 2018, 11:03:47 AM

It's not a whale, but solely Coinbase performing maintenance that will result in a better (i.e. more secure) distribution of coins, and probably also to claim the fork coins.

Thank you. This has been discussed several times before, and I made a similar post debunking all this panic a few weeks ago here: https://bitcointalksearch.org/topic/m.48430890

All the addresses on that list can be traced back to the following 9 addresses which were loaded up with ~66,000BTC each in 2013: https://www.blockchain.com/btc/tx/a289ea76bcc396412e90d63b90eb462ea2adb326aa027d5a1bb8864c7c152012

Some of these addresses were emptied 18 months ago before the big bull run. Some of them are being emptied now. It bears no relation to the market. It is simply Coinbase securing their cold storage.

proTECH77

member

Activity: 1120

Merit: 30

Bisq Market Day - March 20th 2023

Quote from: leavolnhals on December 18, 2018, 10:53:09 AM

I think it was those who bought BTC since 2010 and now they have forgotten the Private key. They can not access it and our market will take 608k bitcoin.
But it will not matter, bitcoin has not been exploited yet. It does not affect too much on the volatility of the crypto market.

These are issues one doesn't boarder with because Bitcoin will always survive the most difficult time and come out victorious. In regard to the whales moving their Bitcoin of such volume is a plus and most be commended. The movement of such Bitcoin could be the reason behind CoinBase.com maintenance which is currently taking place. Bitcoin will always come out strong after the huddles of the bear market.

bravehearth0319

hero member

Activity: 1022

Merit: 500

Quote from: DaMut on December 18, 2018, 10:00:01 AM

Reading this kind of article or getting this kind of news when the market is on the bear is like having a wound on your body and someone accidentally rub the salt into your wound.
Have been in crypto for almost 4 years, and seems like my faith starting to waver.
indeed the price is much higher compared to 2 years ago, but we need to understand that a LOT of peoples are losing their money right now.
if it goes lower from this point, what will happen to our crypto space later on?

You may have a point in your assessment dude, but we should always remember that whether the market is increasing or decreasing,
We as a trader in crypto can still make a chance to earn when we do the actual trade. If we do the right and proper things while we are in the platform exchange. Though, we knew lots of community faced loss of money in trading.

hermankoles

jr. member

Activity: 275

Merit: 1

https://customcontract.network

Large-scale transfer of bitcoin does not mean that prices will fall because the market is flooded with bitcoin, but this may add to market activity which will certainly increase trading volume which impacts on the growth of crypto prices. We also hope this will give a positive role to the price trend which is currently still declining

DaMut

sr. member

Activity: 1274

Merit: 263

Quote from: Stedsm on December 18, 2018, 10:29:23 AM

Hell yeah, that's what everyone who bought above the current levels must be feeling. Even when Bitcoin bulls used to ask people to "KEEP CALM AND BUY BITCOINS AT SUCH CHEAP RATES" when it was playing at $6k, nobody would've thought ever that the bearish times (Futures and shorting opportunities) would kill the value to under $3250 levels.

Could not agree more with this statement.

Quote

What have you exactly learnt if your faith started to shiver during bearish times? Are you not aware of the fact that BTC survived worst conditions, even worst than these?

I know the fact that Bitcoin survived worst conditions before this, but we need to understand that we are in on different level from before.
today, more than one country that supports Bitcoin. And when the price goes down this lower, what will happen with their investor?

Quote

Nothing would happen, it'll only make an average investor lose their faith in cryptocurrencies.

Do not agree, when Japan stated that they were supporting it. Their investor and even their citizen were using it, that means they were not a regular investor but instead they were the foundation. If they are losing it right now, do you think Bitcoin will survive?

1Referee

legendary

Activity: 2170

Merit: 1427

It's not a whale, but solely Coinbase performing maintenance that will result in a better (i.e. more secure) distribution of coins, and probably also to claim the fork coins.

https://blog.coinbase.com/notice-of-blockchain-movements-b09cb1ec46dd

I'm quite shocked that they hold that many coins. It's crazy if you think about it, because this just shows how much 'faith' people have in Coinbase, a centralized entity. I get it, it's one of the most compliant exchanges, but that doesn't mean it won't ever mess up one way or another.

I do however like how they used Segwit to save up on fees, which perfectly demonstrates how they acknowledge its usefulness.

leavolnhals

full member

Activity: 770

Merit: 101

I think it was those who bought BTC since 2010 and now they have forgotten the Private key. They can not access it and our market will take 608k bitcoin.
But it will not matter, bitcoin has not been exploited yet. It does not affect too much on the volatility of the crypto market.

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

Instead of actually panicking like "ooo nooo mr whale dump the bitcoin price", why not be amazed instead on how someone managed to move HUGE amounts of value, with very minimal fees, and without an intermediary? Now that's remarkable! Like geez. Let's not focus on prices for at least a day.

Not to mention that we don't even know if the bitcoins are actually on the way to an exchange wallet or not.

Stedsm

legendary

Activity: 3052

Merit: 1273

Quote from: DaMut on December 18, 2018, 10:00:01 AM

Reading this kind of article or getting this kind of news when the market is on the bear is like having a wound on your body and someone accidentally rub the salt into your wound.

Hell yeah, that's what everyone who bought above the current levels must be feeling. Even when Bitcoin bulls used to ask people to "KEEP CALM AND BUY BITCOINS AT SUCH CHEAP RATES" when it was playing at $6k, nobody would've thought ever that the bearish times (Futures and shorting opportunities) would kill the value to under $3250 levels.

Quote

Have been in crypto for almost 4 years, and seems like my faith starting to waver.

What have you exactly learnt if your faith started to shiver during bearish times? Are you not aware of the fact that BTC survived worst conditions, even worst than these? Yes, I can understand that the types of deaths it had before were completely different from the current position, taking into account the numbers which rose exceptionally during a year itself. But then, this was really needed and was destined to happen. Now has the time come for BTC to recover, keep faith my friend and hodl, this is what bears want us to do - lose our trust in crypto, so don't make it easy for them.

Quote

if it goes lower from this point, what will happen to our crypto space later on?

Nothing would happen, it'll only make an average investor lose their faith in cryptocurrencies and that's when the real game of snatching away the opportunities from us will start taking place.

DaMut

sr. member

Activity: 1274

Merit: 263

Reading this kind of article or getting this kind of news when the market is on the bear is like having a wound on your body and someone accidentally rub the salt into your wound.
Have been in crypto for almost 4 years, and seems like my faith starting to waver.
indeed the price is much higher compared to 2 years ago, but we need to understand that a LOT of peoples are losing their money right now.
if it goes lower from this point, what will happen to our crypto space later on?

Stedsm

legendary

Activity: 3052

Merit: 1273

https://news.bitcoin.com/previously-inactive-whales-are-moving-large-amounts-of-btc/

Sources show that more than 608k Bitcoins were moved since they have been inactive for more than 3-5 years. Spiry, a Twitter user had also disclosed a list of those 76 wallets where these coins were sent in a batch of 8k coins (probably all may be OTC transactions) in a post here - https://mobile.twitter.com/spirybtc/status/1070339579557892098

Watching a very harsh period going on in the whole crypto, I believe this doesn't really look good for hodlers if these whales ever decide to move their coins to exchanges to dump them. It's their right to do whatever they wish to, but should such transactions and many more that happened before, be considered one of the major reasons for BTC to come to such irrelevant levels whilst if we listen to what Bitcoin bulls had to say, Bitcoin is very low in its market price compared to its fair price which should be above $15k.

Topic: More than 608k BTC was moved from dormant wallets! - page 2. (Read 403 times)