Why do whales move Bitcoin around from wallet to wallet? - page 4.

Docnaster

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Quote from: Slow death on July 31, 2019, 06:54:02 AM

So now people control transactions from those who have a lot of bitcoins? do these people who have many bitcoins have no right to do whatever they want with their bitcoins? should they be saying what they will do with their own bitcoins? then comes to say that governments are controlling and we have to break free of government control, but keep monitoring and tell what people who have a lot of bitcoins should or should not do with their bitcoins

Are you not unnecessarily dragging a simple question?
It is a question made out of curiosity. Why be snarky and cynical in your response?
Honestly, it baffles my mind as well, why do they move around the large sums of btc. Surely it can't be for hack prevention. pvkeys are pretty secure and unhackable.
So what other reasons could there be?

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Frequently bitcoin exchanges, those areas where you can set up an account and purchase or sell bitcoins, has a wallet where you can store your bitcoins and accumulate them. When you purchase bitcoin on a market, you might want to make some bitcoin money in the wallet in the exchange and move some to another one of your wallets. Bitcoin wallets have really great advantages compared to traditional bank accounts, which can be created easily.

http://cryptograbby.com/

AjithBtc

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Quote from: Genamant on August 28, 2019, 02:33:21 AM

i can only think few several reasons why first if i am a whale i would not want my Bitcoin to be in one wallet
second there is a possible pump plan.

Well, when holding large volume funds different wallets were used. Another thing the market change happens with the circulation of bitcoin taking place with time. This way whales tend to manipulate the market with the funds being moved between wallets.

Genamant

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i can only think few several reasons why first if i am a whale i would not want my Bitcoin to be in one wallet
second there is a possible pump plan.

DoublerHunter

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Quote from: Pipdips on August 03, 2019, 10:02:53 PM

Quote from: Shary on August 03, 2019, 06:25:52 PM

simply, in few words, to not get hacked

Nice reply. I think you are onto something... Cool

^ Or just another reason is probably that is a coincidence, from the whale's wallet to another unknown wallet does not bring whales good benefit that probably manipulates the market. Nevertheless, the article has not shown about transactions of possible splitting transaction but I feel and doubt that maybe at that time the whale is ready to seel the bitcoin into half of his holding. I suspect that the reason for moving to another wallet that means ready to sell anytime because they know bitcoin surge at that time.

rima valen

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Quote from: Pipdips on July 30, 2019, 11:04:43 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?

as far as I know, the pope moves from wallet to wallet, which is basically to be safe such as if a scamer wants to steal, does not run out of btc, and or maybe for his own personality

Pipdips

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What are the best books that teach about exactly how the whales operate and manipulate markets?

The whales approach trading differently than normal traders and I'd like to learn more about their perspective.

Ridwan Fauzi

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Does it have something to do with the arbitration strategy? CMIIW

I just thinking about it, they will send bitcoin in wallet an exchange and move to another wallet exchange so as they will get profit to do that.

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the article doesn't give references to any transactions in blockchain
so we can't tell (or guess) if they were consolidating, moving in/out of exchange, or etc
it only says there are several big transactions each from an unknown wallet to another unknown wallet

imo, whales are getting ready to sell when the price of bitcoin surges
or they are just doing it to spread FUD so people get scared and start selling
then whales will scoop up those cheap bitcoin on the market Grin

Pipdips

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Quote from: Shary on August 03, 2019, 06:25:52 PM

simply, in few words, to not get hacked

Nice reply. I think you are onto something... Cool

Shary

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simply, in few words, to not get hacked

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People are obviously very curious and some had even come to idea to watch.and monitor orher people's transactions. I haven't really thought about why would someone move coins from one wallet to another but security is the first thing that comes to my mind. And it's not wise to keep all coins in only one wallet. Maybe the reason is also that they want not to be easily traced if someone will investigate transactions.

Pipdips

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Quote from: The Sceptical Chymist on August 02, 2019, 02:18:38 PM

Makes me wonder who these people are, though I'm sure we'll never know unless they disclose their identity--and they'd be silly to do so.

If they were in the USA and they had a bunch of those funds in Binance or Coinbase, they were smart to move the money out of there, or else they would be required to let the whole world soon know who they are.. whether they like it or not.

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Quote from: asajapheth on July 31, 2019, 08:33:37 AM

If I were a whale I'd do the same. For security reasons, for easy accessibility and much more. The wallets are like banks to them. I have quite a number of bank accounts, and I'm not very rich. So, I'd definitely have many wallets if I had the coins.

I can understand that completely. If I owned a large amount of bitcoin (never going to happen), there's no way in hell I'd keep it all in one wallet, even if it were in cold storage. In fact I'd probably keep multiple paper wallets or their equivalents locked up somewhere--so it makes sense to me that these so-called whales just move their bitcoin around.

Quote from: Pipdips on August 02, 2019, 02:09:52 PM

They are moving around more money to buy a small country.....

Makes me wonder who these people are, though I'm sure we'll never know unless they disclose their identity--and they'd be silly to do so.

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Quote from: sunsilk on August 01, 2019, 04:21:50 PM

Possibly. Moving their coins out of exchanges or just simply transferring it to their another wallet.

That is why I am so curious. Crypto Whales are insiders on what will happen next. If they moved their funds out of exchanges like Binance or Coinbase, I would interested to know. Also I wonder if the whale who did these big transfer is based out of the USA, or perhaps there location just does not even matter.

It's not like they are moving a few hundred bucks around the place. They are moving around more money to buy a small country.....

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Quote from: Pipdips on July 31, 2019, 11:37:59 AM

Did the whale remove coin from exchanges?

Possibly. Moving their coins out of exchanges or just simply transferring it to their another wallet.

Quote from: $anounimus$ on July 31, 2019, 11:56:14 PM

Quote from: milewilda on July 31, 2019, 10:58:41 AM

-Moving to cold storage
-Partitioning his coins into several wallets rather than on single one

If im a whale i would definitely do the same.

Yap maybe om do the same thing, I think that is a natural thing so this is actually not a serious problem.

Yeah, if I'm a whale too I'd do the same. Splitting up the coin to different wallets that I own. Probably to electrum and hardware wallet that I own just to make sure that my funds are well placed. It's much better to see it split than seeing it on one basket.

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Quote from: milewilda on July 31, 2019, 10:58:41 AM

-Moving to cold storage
-Partitioning his coins into several wallets rather than on single one

If im a whale i would definitely do the same.

Yap maybe om do the same thing, I think that is a natural thing so this is actually not a serious problem.

Pipdips

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Quote from: asajapheth on July 31, 2019, 08:33:37 AM

If I were a whale I'd do the same. For security reasons, for easy accessibility and much more.

I agree, If I had a million dollars worth of Bitcoin, I would break it down into separate wallets of probably $50,000 each.

But what is "and much more". What are all of the other reason they move and split the coin down? I ask because there are pros and cons to moving their coin around like that.

mr.relax

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What business was it? They are totally anonymous?

Do you understand how BTC transactions function?
BTC is anonymous.
Your IP not and your Addresses known to exchanges where you did KYC are not.
What for is the money? THIS is not in the blockchain... Grin

Quote

What is the meaning of "consolidating the inputs"?

Consolidating inputs means,
you send a lot of small incoming funds that reside in many addresses in a low fee transaction to one address.
And you have patience until it confirms.
So you save a lot of fees compared to sending them in normal transactions.

All Big Exchange wallets are known. If you have the right tools you may see if it came from/go to an exchange.

Pipdips

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Did the whale remove coin from exchanges? Can we identify is it was in an exchange or a wallet from the transaction information?

I can see if they had $100MM sitting in a exchange and then removed it, that would make a big impact on an exchange.

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