Using bitcoinrichlist to see when the big players prepare for selling - page 2.

bryant.coleman

legendary

Activity: 3766

Merit: 1217

Quote from: qwerty555 on November 30, 2013, 11:57:43 AM

By switching to the top 500 address list there are a number of wallets with no activity since 2010 and 2011. The probability that these are LOST addresses is high as is the value.

Anyone want to work out the % of coins involved?

That is disturbing.

I noticed one BTC wallet, which is not active ever since 2009! (198aMn6ZYAczwrE5NvNTUMyJ5qkfy4g3Hi)

This is the number of BTCs trapped in the top 500 wallets, by the year of last activity:

Year 2009: 1 wallet & 8,000 BTC
Year 2010: 10 wallets & 47,466.93 BTC
Year 2011: 104 wallets & 408,009.50 BTC

All together, 115 wallets with 463,476.43 BTC in them.

miken123

newbie

Activity: 35

Merit: 0

Quote from: Akka on November 30, 2013, 08:22:08 PM

Quote from: botolo86 on November 30, 2013, 07:32:53 PM

Quote from: qwerty555 on November 30, 2013, 11:57:43 AM

By switching to the top 500 address list there are a number of wallets with no activity since 2010 and 2011. The probability that these are LOST addresses is high as is the value.

Anyone want to work out the % of coins involved?

This is very interesting on a theoretical point of view. What would you need to get the bitcoins in those wallets? Each address has a public and private key. Where is the public key published? Also, couldn't you just brute-force the discovery of the private key?

If you could just do that, Bitcoin would be worthless.

Of course you can try...

http://miguelmoreno.net/wp-content/uploads/2013/05/fYFBsqp.jpg

Does the person who made the image know that he or she failed to start counting at zero. Nice ball graphic. FAIL

beaconpcguru

full member

Activity: 189

Merit: 100

Hello

Useless method, sure you can watch them but very large holders still have hundreds of wallets with 100 btc a piece in them, which is a routine practiced frequently with large amounts.

PenAndPaper

sr. member

Activity: 252

Merit: 250

So was there any activity during the latest crash/correction? Any activity that could have been used to move the price that is.

Akka

legendary

Activity: 1232

Merit: 1001

Quote from: botolo86 on November 30, 2013, 07:32:53 PM

Quote from: qwerty555 on November 30, 2013, 11:57:43 AM

By switching to the top 500 address list there are a number of wallets with no activity since 2010 and 2011. The probability that these are LOST addresses is high as is the value.

Anyone want to work out the % of coins involved?

This is very interesting on a theoretical point of view. What would you need to get the bitcoins in those wallets? Each address has a public and private key. Where is the public key published? Also, couldn't you just brute-force the discovery of the private key?

If you could just do that, Bitcoin would be worthless.

Of course you can try...

kallekoll

newbie

Activity: 8

Merit: 0

Quote from: botolo86 on November 30, 2013, 07:32:53 PM

Quote from: qwerty555 on November 30, 2013, 11:57:43 AM

By switching to the top 500 address list there are a number of wallets with no activity since 2010 and 2011. The probability that these are LOST addresses is high as is the value.

Anyone want to work out the % of coins involved?

This is very interesting on a theoretical point of view. What would you need to get the bitcoins in those wallets? Each address has a public and private key. Where is the public key published? Also, couldn't you just brute-force the discovery of the private key?

As far as i know it's not feasible to bruteforce a wallet only having the address. Here is a stackexchange discussion on that topic

botolo86

full member

Activity: 200

Merit: 100

Quote from: qwerty555 on November 30, 2013, 11:57:43 AM

By switching to the top 500 address list there are a number of wallets with no activity since 2010 and 2011. The probability that these are LOST addresses is high as is the value.

Anyone want to work out the % of coins involved?

This is very interesting on a theoretical point of view. What would you need to get the bitcoins in those wallets? Each address has a public and private key. Where is the public key published? Also, couldn't you just brute-force the discovery of the private key?

kallekoll

newbie

Activity: 8

Merit: 0

Quote from: PenAndPaper on November 30, 2013, 10:00:25 AM

Most of these addresses are paper wallet and have zero activity.

They might be cold storage people use to keep their stash safe? Also as AstroBoy said, all of them had activity in the past week.

qwerty555

sr. member

Activity: 405

Merit: 250

By switching to the top 500 address list there are a number of wallets with no activity since 2010 and 2011. The probability that these are LOST addresses is high as is the value.

Anyone want to work out the % of coins involved?

AstroBoy

newbie

Activity: 50

Merit: 0

Look at last transaction... all of them have some activity in the last week.

PenAndPaper

sr. member

Activity: 252

Merit: 250

Most of these addresses are paper wallet and have zero activity.

kallekoll

newbie

Activity: 8

Merit: 0

http://bitcoinrichlist.com/top100

The richest bitcoin address is at the time of writing worth 144,341 BTC or 162,958,687 USD. 21.62% of all bitcoins are today held in the top 100 addresses.

If we monitor these addresses, we could detect movement when these big players decide to do something, like moving coins from cold wallets to hot wallets before selling.

This way, we could know about a selloff before it's actually executed on an exchange.

For example: 1DWosvn7iEv6TUfCUXsmLqNVBZi9usEkex (worth 46000 BTC) recently moved all but 1600 of his coins. Where did he move them? If he moved them to some exchange, he might be preparing to sell.

Is there a way to know which addresses are linked to exchanges?

Topic: Using bitcoinrichlist to see when the big players prepare for selling - page 2. (Read 3296 times)