Very Rich Address? - page 3. | Bitcointalksearch.org

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

Quote from: ?? on ??

Quote from: Phinnaeus Gage on May 23, 2012, 03:12:22 AM

Quote from: ?? on ??

i bet it is related to the stability... this guy would not let it go under $5 or so... just absorbed everything, that's my guess.

$2,000,000 is a lot for me, but for some people or funds, that is nothing and worth taking a long shot on. a lot of very rich people know what bitcoin is.

Many of these transactions are happening within seconds of each other. This is on automatic pilot. Pick any one transaction at random and following it for awhile. Look at the times. Look at some transactions split then return to the original total and increases it. My head is spinning. (tired)

~Bruno~

then could it be a way to launder coins?

Laundering them, then storing them all in one wallet? There's several other large accounts that siphon coins to this larger account. Like I've suggested, take any address and follow it. You'll be amazed.

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

Quote from: ?? on ??

i bet it is related to the stability... this guy would not let it go under $5 or so... just absorbed everything, that's my guess.

$2,000,000 is a lot for me, but for some people or funds, that is nothing and worth taking a long shot on. a lot of very rich people know what bitcoin is.

Many of these transactions are happening within seconds of each other. This is on automatic pilot. Pick any one transaction at random and following it for awhile. Look at the times. Look at some transactions split then return to the original total and increases it. My head is spinning. (tired)

~Bruno~

bitlane

sr. member

Activity: 462

Merit: 250

I heart thebaron

Quote from: wachtwoord on May 22, 2012, 06:26:43 PM

The address didn't start accumulating coins until February of this year:

http://blockchain.info/charts/balance?address=1DkyBEKt5S2GDtv7aQw6rQepAvnsRyHoYM

That's my Pirate Savings Account address.

I don't appreciate this being posted in public.

Monetizer

hero member

Activity: 812

Merit: 1000

That is either a hacker or a bitcoin trader/service like mt gox

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

Quote from: ?? on ??

Quote from: Phinnaeus Gage on May 23, 2012, 12:02:46 AM

Let me get this straight. Somebody has amassed 4.5% of the total bitcoins in circulation. Plus, every single transaction I viewed (over 100) has a final balance of 0. If this entity is legit, more power to them. But if not...

I'm more than curious as to what product or service they are providing to amass such a large sum of coins.

~Bruno~

bitcoinica or gox is all that really comes to mind. that or some unknown billionaire/hedge fund.

Somebody tell me I'm crazy, but the transactions I've seen are only seconds apart with each address used only once. I can't explain it, but by clicking any transaction and following it/them for a while, I come back to Mr. MoneyBags. I've found several accounts that spent the coins and the smaller amount gets added to that 400K account--magically. Somebody smarter than I would be able to explain exactly what is going on with this account. I've been on it for a couple hours now. This is nuts!

~Bruno~

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

Let me get this straight. Somebody has amassed 4.5% of the total bitcoins in circulation. Plus, every single transaction I viewed (over 100) has a final balance of 0. If this entity is legit, more power to them. But if not...

I'm more than curious as to what product or service they are providing to amass such a large sum of coins.

~Bruno~

evoorhees

legendary

Activity: 1008

Merit: 1023

Democracy is the original 51% attack

Quote from: ?? on ??

it's pirates!

(yes this is 100% BS FUD)

It's one of the most annoying things about this "community". I'm not sure why people seek to undermine trust by decloaking addresses/people with large balances. It actually makes it worse than fiat, as you can't easily look up someone's bank balances. It seems a perverse game among people with little respect for privacy in an open ledger system, which makes it necessary for people with "nothing to hide" to go to lengths to obfuscate their holdings.

Not everyone is "sophisticated" enough to split their holdings into multiple wallets/addresses. This sort of activity creates a disincentive to invest heavily in BTC and to pull BTC out into cash more frequently.

I understand your sentiment, but if one's identity can be "uncloaked" by simple investigation, then it's not really cloaked in the first place. Not everyone needs/wants full complete privacy. Those who do, can take steps to attain it. And certainly, anyone with 400,000 BTC is experienced enough to know these things. If they wished those funds to be super secret, then they would be. It does not take much sophistication to split holdings, or even to launder them completely.

Doing a bit of web research using publicly available information does not breech anyone's reasonable expectation of privacy.

bitdragon

hero member

Activity: 609

Merit: 501

peace

and I dug up that 371K Bitcoin thread....

https://bitcointalksearch.org/topic/anyone-know-what-happened-to-knightmb-and-his-371000-btc-6825

bitdragon

hero member

Activity: 609

Merit: 501

peace

Quote from: Clipse on May 22, 2012, 06:15:16 PM

Quote from: bitdragon on May 22, 2012, 06:04:10 PM

there was one guy a year ago with a balance of 370K bitcoins, accumulated over a long time.
He was buying 10K Bitcoins for dozens of USD at a time.
There was even an auction for 10K bitcoins for 50USD through paypal that did not find a buyer.
There is the history buried in the forum somewhere. The plan 2 years ago or something was to accumulate bitcoins in partnership with a Bank for some future business.
Over the months or year, the fad died out and the supposed bank dropped out without regards for and not paying any attention to the price of Bitcoins and the chap in question got to keep the bitcoins for a rather low fee of 30K USD or something in that range, cancelling the contract in someway.

To have it grown by 30K bitcoins is very possible. All this to say, there are some with very large balances. Maybe 80% of the wealth in 20% of the people as Pareto would say.

The 10K BTC thread was all about pizza, I was here from very early and I dont recall any 10K for $50 unless that happened in early 2010 ?

march 2010 indeed.

https://bitcointalksearch.org/topic/m.826

"April 07, 2010, 03:47:18 PM

Reply with quote #6
Auction is over.
Since nobody has made the starting bid, the bitcoins do not change their owner."

wachtwoord

legendary

Activity: 2324

Merit: 1125

The address didn't start accumulating coins until February of this year:

http://blockchain.info/charts/balance?address=1DkyBEKt5S2GDtv7aQw6rQepAvnsRyHoYM

Clipse

hero member

Activity: 504

Merit: 502

Quote from: bitdragon on May 22, 2012, 06:04:10 PM

there was one guy a year ago with a balance of 370K bitcoins, accumulated over a long time.
He was buying 10K Bitcoins for dozens of USD at a time.
There was even an auction for 10K bitcoins for 50USD through paypal that did not find a buyer.
There is the history buried in the forum somewhere. The plan 2 years ago or something was to accumulate bitcoins in partnership with a Bank for some future business.
Over the months or year, the fad died out and the supposed bank dropped out without regards for and not paying any attention to the price of Bitcoins and the chap in question got to keep the bitcoins for a rather low fee of 30K USD or something in that range, cancelling the contract in someway.

To have it grown by 30K bitcoins is very possible. All this to say, there are some with very large balances. Maybe 80% of the wealth in 20% of the people as Pareto would say.

The 10K BTC thread was all about pizza, I was here from very early and I dont recall any 10K for $50 unless that happened in early 2010 ?

bitdragon

hero member

Activity: 609

Merit: 501

peace

there was one guy a year ago with a balance of 370K bitcoins, accumulated over a long time.
He was buying 10K Bitcoins for dozens of USD at a time.
There was even an auction for 10K bitcoins for 50USD through paypal that did not find a buyer.
There is the history buried in the forum somewhere. The plan 2 years ago or something was to accumulate bitcoins in partnership with a Bank for some future business.
Over the months or year, the fad died out and the supposed bank dropped out without regards for and not paying any attention to the price of Bitcoins and the chap in question got to keep the bitcoins for a rather low fee of 30K USD or something in that range, cancelling the contract in someway.

To have it grown by 30K bitcoins is very possible. All this to say, there are some with very large balances. Maybe 80% of the wealth in 20% of the people as Pareto would say.

Clipse

hero member

Activity: 504

Merit: 502

Damn that wallet is growing nicely, SR is clearly doing well (if that is their wallet)

oldDirty

full member

Activity: 182

Merit: 100

roundhouseminer

uhh 1.6Mio €, thats nice.

Anillos

sr. member

Activity: 462

Merit: 250

I suspect that someone will purchase a ink cartridge, but at this moment he doesn't have enough money. Grin

Inaba

legendary

Activity: 1260

Merit: 1000

It's mostly imaginary though, since it would be impossible to liquidate a sum that large without crashing the economy. It's great they possess it, but what can they do with it? Not much, at least not immediately.

imsaguy

vip

Activity: 574

Merit: 500

Don't send me a pm unless you gpg encrypt it.

That's the address collecting all of Goat's misfires.

jarsumarsu

donator

Activity: 134

Merit: 100

Quote from: Arkanos on May 22, 2012, 03:55:22 AM

http://blockchain.info/fb/1dkybe

It is my spare wallet Roll Eyes

ilovethisshit

newbie

Activity: 11

Merit: 0

wow

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

Quote from: Arkanos on May 22, 2012, 04:26:09 AM

What I mean to say is that I sent btc to silk road and then I tracked the funds. They immediately went to that address. That is Silk Road's main storage. Nearly two million USD is tied up in the Silk Road Marketplace.

This account will now be thrown away.

Is the above information correct? (in bold)

Topic: Very Rich Address? - page 3. (Read 13079 times)