Why do whales move Bitcoin around from wallet to wallet? - page 2.

qwertyup23

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Quote from: Pipdips on July 30, 2019, 10:04:43 PM

Are they splitting the coin up into smaller wallets so they do not keep all their eggs in one basket? Any other reasons why?

Well that could be one possible reason on why they allocate their resources into several accounts for security reasons or because they have multiple large transactions. I mean, if I were to own significant amounts of BTCs, I will never be too sure in which wallet I should store them (definitely a physical wallet!).

Another reason could also be a manipulation or control in the market as movements of large amounts of bitcoin tend to startle the market and cause effects on its price. At the end of the day, whales would do anything that would gain more BTCs at their end.

deviant99

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Quote from: Pipdips on July 30, 2019, 10:04:43 PM

I read this today and it made me wonder what exactly is the purpose of whales moving Bitcoin around like this?

https://www.fxstreet.com/cryptocurrencies/news/bitcoin-whales-move-3-billion-in-just-six-hours-201907302301?utm_source=tradingview&utm_medium=rss&utm_campaign=254b9d70-7c4b-481b-a94e-aaac0c60ed14

Are they splitting the coin up into smaller wallets so they do not keep all their eggs in one basket? Any other reasons why?

for safety reasons i think if you have big funds in your wallet you might want to check it regularly and move it to other wallet like offline wallet it is to risky to trust in here in the internet

TGD

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To manipulate trading on exchange or that whale wallet is actually a property of a group of investors such as multi signature wallet. But I believe it's trading related, I already read some article about this.
They are participating on exchange trading competition which requires volume to determine the winner. They use multiple wallet to trade to each other, Buying and selling on other accounts bid/order.
This is a common practice of whales to benefits on the rewards.

Aying

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Quote from: Mpamaegbu on November 04, 2019, 04:30:19 PM

I think it's pretty much easier to see such movements of Bitcoin from one wallet to the other as a security measure, besides selling them at exchanges. People who have a huge holdings tend to keep them in private wallets and this is rightly so as that prevents exposing these whales to the risk of rogue hackings at exchanges.

You are right, they are securing their funds at all cost. we know that whales are the huge holders in this industry. they only want their funds not be involve on a hackers desires. they avoid it to them to be hack. that idea is already scattered even in hackers eyes and ears. but they can't stop them to hold and gain more. knowledgable whales are wiser now to hinder any acts of evil deeds.

Mpamaegbu

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I think it's pretty much easier to see such movements of Bitcoin from one wallet to the other as a security measure, besides selling them at exchanges. People who have a huge holdings tend to keep them in private wallets and this is rightly so as that prevents exposing these whales to the risk of rogue hackings at exchanges.

Mpamaegbu

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I think it's pretty much easier to see such movements of Bitcoin from one wallet to the other as a security measure, besides selling them at exchanges. People who have a huge holdings tend to keep them in private wallets and this is rightly so as that prevents exposing these whales to the risk of rogue hackings at exchanges.

shield132

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Quote from: 13abyknight on September 29, 2019, 10:44:42 AM

Quote from: Pipdips on July 30, 2019, 10:04:43 PM

Are they splitting the coin up into smaller wallets so they do not keep all their eggs in one basket? Any other reasons why?

There is a wide possible range of speculations that we can make when it comes to why whales move their coins around. Firstly, with whales being whales, it could be an attempt at market manipulation, trying to cause some FUDs when big amounts are seen moving on the blockchain. Secondly, although unclear, it could also be a result of coin tumbling, which the big traders use to get their hands on untraceable coins.

Got it, great comment there. I don't know why but a lot of people thinks it's because they have to move their coins from old wallets into new ones and keep them secure and etc. Well, yes, at some point such transactions are done by exchanges for those purposes but that's rare and it doesn't shine too. But usually whales do huge transactions to gain attention from others because it usually gets under attention very easily and famous news websites like cointelegraph, ccn and etc often post about huge moves from one wallet to another which is an extra help for them to achieve their goal.

13abyknight

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Being a whale is quite the hard task itself as it involves a huge degree of risk of losing a lot of money all at once, all because of one bad decision. Wallet and coin storage services are sometimes known to be shady and any sort of shady activity seen by the user will result in them wanting to move the huge funds to a more secure location.

Drai

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It's basically about security, judging by the biggest bitcoin heists in history, we know that very few things are impossible to hack and the whales know this and having such large funds in one place can be pretty nerve wracking, if I was the one, I wouldn't be able to sleep at night because I would be so scared of a hack attack that might make me lose all my funds, additionally they might also divide it for different purposes, maybe keep different amounts of coins for different purposes, maybe one for HODL, one to trade, one for expenses and so on, to avoid touching the funds you don't wanna touch and additionally, wallets with big funds tend to draw attention so splitting it up removes some of the attention from the funds.

boltz

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Whales nowadays are moving their Bitcoins to cold wallets in order to extra secure their wallets as I would do the same if I had a big amount if coins. Also I wouldn't keep my coins more than 3-4 months in the same wallet and I would move them from an address to another in order to loose the trace of hackers ( as I know there are a lot of them trying to scam people with a lot of bitcoins ). Another reason would be that maybe some wallets are owned by exchanges and they often move into cold wallets ...so there are plenty of reasons why whales and exchanges won't keep the Bitcoins to the same addresses but splitting them into multiple wallets with pieces of bitcoin each other is not an ideal solution.

Apes

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They split into small pieces there must be a reason, Maybe they are trying to avoid hackers to always move their funds randomly. Or by having different addresses, aim to make deposits at one or several specific addresses in exchange to look normal. Does not cause an issue that does not ruin the market.

Ridwan Fauzi

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Quote from: gandame on October 11, 2019, 05:52:24 AM

Quote from: Pipdips on July 30, 2019, 10:04:43 PM

Are they splitting the coin up into smaller wallets so they do not keep all their eggs in one basket? Any other reasons why?

Maybe they move it because they pay like online or maybe they move some into there wallet to protect there bitcoin. They keep it safe as you said air maybe they don't want to put an eggs in one basket. Many people are holding big amount of bitcoin so they want to keep safe there bitcoin.

Hmmm...I can't imagine how you thinking from these word. These word is indeed often to use to give a suggestion to everyone in order to they don't choose one place investment to store their money. So, they just store their money to one place only and it is bitcoin. But the purpose of these word (idiom) is you have to choose another place to store your money such as in ETH or LTC. So, to pair up this idiom with what whales action as OP said it is not suitble. And maybe you have to know, the safest way to store bitcoin it is not in an exchange, you will have many risk that will you face. But hardware wallet is the best place as far as I know.

gandame

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Quote from: Pipdips on July 30, 2019, 10:04:43 PM

Are they splitting the coin up into smaller wallets so they do not keep all their eggs in one basket? Any other reasons why?

Maybe they move it because they pay like online or maybe they move some into there wallet to protect there bitcoin. They keep it safe as you said air maybe they don't want to put an eggs in one basket. Many people are holding big amount of bitcoin so they want to keep safe there bitcoin.

Shasha80

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Many reasons for whales to move bitcoin around from wallet to wallet, the first reason maybe whales want to make
panic sell. So people who lack knowledge and the newbie will sell their cheap coins, so whales can buy these cheap coins.
The second reason for security, we know that some exchanges have been hacked even with high level of security.
Therefore whales move the coin into several wallet / exchanges, for example if one of the wallet in hacks will not have total loss,
because it still exists in another wallet. This is just my guess which could possibly be wrong.

rocku12345

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Quote from: slaman29 on October 03, 2019, 03:53:56 AM

Quote from: lab rat hoax on October 01, 2019, 04:42:31 PM

I think the important reason is not to put the eggs in the same basket, but of course there are other reasons as well. For example, sometimes I think they do this just to create a panic atmosphere in the market. That is, when we see a large amount of bitcoin transfers from a fixed wallet to a stock exchange wallet, we think that bitcoin will come with a huge sales pressure and the price will drop.

I've seen some people consider crypto the same basket, and any eggs you put into any alts are really the same basket. That's actually true in my experience anyway, although I would say there are two compartments in the basket: Bitcoin and good alts.

Unproven alts and tokens and ICOs? Those aren't baskets. Just roulette.

Why unproven ? There is IEO system today where you can be at least to be confident that receive coins. Good alts are result of deep analyze of today`s market.
Today most of whales are speculants, they want to make some waves on the market for their profit. You know that a lot of traders are neurvy and unexpiriencied, so one of whales mission is to force them to sell or buy.

slaman29

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Quote from: lab rat hoax on October 01, 2019, 04:42:31 PM

I think the important reason is not to put the eggs in the same basket, but of course there are other reasons as well. For example, sometimes I think they do this just to create a panic atmosphere in the market. That is, when we see a large amount of bitcoin transfers from a fixed wallet to a stock exchange wallet, we think that bitcoin will come with a huge sales pressure and the price will drop.

I've seen some people consider crypto the same basket, and any eggs you put into any alts are really the same basket. That's actually true in my experience anyway, although I would say there are two compartments in the basket: Bitcoin and good alts.

Unproven alts and tokens and ICOs? Those aren't baskets. Just roulette.

joinfree

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The fact the coin is moved does not mean to be spend. But to make a change it might be like they suspect someone they dont trust anymore might have their private keys. or there might be change in their executive so when ever there is change they must do change .

carlisle1

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Quote from: Pipdips on July 30, 2019, 10:04:43 PM

I read this today and it made me wonder what exactly is the purpose of whales moving Bitcoin around like this?

https://www.fxstreet.com/cryptocurrencies/news/bitcoin-whales-move-3-billion-in-just-six-hours-201907302301?utm_source=tradingview&utm_medium=rss&utm_campaign=254b9d70-7c4b-481b-a94e-aaac0c60ed14

Are they splitting the coin up into smaller wallets so they do not keep all their eggs in one basket? Any other reasons why?

WHY seems bothered for bitcoin owners moving their currency here and there?does this concerns you at all?at some point you have already given one of the good reason why they’re doing that or so.

Putting your eggs in one basket in crypto is stupidity since we knew ho great hackers is.

Or maybe the whales is keeping precautions to move bitcoins from time to time so hackers that targeting them won’t concentrate to victimized their wallets since it was moving all around

But in anyway?its their right and you must no care about it

Pipdips

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About how many Bitcoins does it require to be considered a whale? About 1000 to be a mini whale, and 10000 to be a Big Whale?

If you find a different crypto that is inexpensive and listed on an exchange that shows barely any trading activity on that cyrpto at all, and you go in there with just $1000 worth of that crypto... you can be a whale, right? Not a "Bitcoin whale" but a whale none the less, right?

Shinpako09

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There are many possible answer on why whales keep on doing such thing. Splitting it up, business, market manipulation, security purposes, etc. For you to know what exactly their reason is, ask a whale or become a whale, which is both hard thing to do. For me the nearest possible answer is because of market manipulation. Whales do exist and we all know if they make a move, it creates hearsay from others mischievous thinking without even a basis, resulted into moving the market into their favor.

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