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Topic: WTF ? 1000 BTC transfers in last block? - page 2. (Read 1759 times)

legendary
Activity: 3206
Merit: 1069
January 17, 2016, 02:16:33 PM
#16

aside from this you need to declare everything prior moving those huge amount, with bitcoin i can go ahead and moving my millions without saying nothing to anyone

I want my transfers recorded. If they aren't recorded, how do I prove that I sent someone the money?

If there is no record of me sending someone 10 million, why wouldn't they just walk away with the money? What if they say they didn't get it?


i was more talking about moving your funds from one place to another, for whatever reason, not sending to someone else

or anyway when you send them to a friend/family member, you know that if you receive a sum from your family that has previously payed taxes on that sum, you need to pay the taxes again, because now these belong to you?

this is true if you're not part of the household, at least here
full member
Activity: 167
Merit: 100
January 17, 2016, 02:10:50 PM
#15

aside from this you need to declare everything prior moving those huge amount, with bitcoin i can go ahead and moving my millions without saying nothing to anyone

I want my transfers recorded. If they aren't recorded, how do I prove that I sent someone the money?

If there is no record of me sending someone 10 million, why wouldn't they just walk away with the money? What if they say they didn't get it?
legendary
Activity: 3206
Merit: 1069
January 17, 2016, 02:08:30 PM
#14
you also pay much lower fee, for that 1M block only 0.5 btc, which is not even $200(and it was a sum of many transaction, if it was done with a single transaction, i'm sure it could have been much lower)

i doubt you can move $400M dollars with a so low amount of fee

If you have a high enough balance, you can easily move millions anywhere in the world without any fees using traditional banking. I use Schwab, my wire fees are waived for any amount and I have wired millions with no fee. For a traditional bank account, the average wire fee is $20 to $25 for any amount, it is not dependent on the amount of money you are transferring.

You can read this for more information:

http://www.bankingmyway.com/credit-center/3-ways-cut-wire-transfer-costs

Example of Schwab's free wire transfers:

http://www.schwab.com/public/file/P-1036363/

"Wire transfer fee: With $100,000–$499,999 in Household Balances, you will receive three free online domestic wire transfers per quarter; with  $500,000 or more in Household Balances, or 36 or more stock or option trades per year in Accounts of Your Household, you will receive three free domestic wire transfers per quarter."

you have moved millions previously? we have plenty of rich people here, apparently, well it's good to know that you can cut on fee with fiat and also it depend when you live i'm sure it's not the case for every country

aside from this you need to declare everything prior moving those huge amount, with bitcoin i can go ahead and moving my millions without saying nothing to anyone
full member
Activity: 167
Merit: 100
January 17, 2016, 02:02:38 PM
#13
you also pay much lower fee, for that 1M block only 0.5 btc, which is not even $200(and it was a sum of many transaction, if it was done with a single transaction, i'm sure it could have been much lower)

i doubt you can move $400M dollars with a so low amount of fee

If you have a high enough balance, you can easily move millions anywhere in the world without any fees using traditional banking. I use Schwab, my wire fees are waived for any amount and I have wired millions with no fee. For a traditional bank account, the average wire fee is $20 to $25 for any amount, it is not dependent on the amount of money you are transferring.

You can read this for more information:

http://www.bankingmyway.com/credit-center/3-ways-cut-wire-transfer-costs

Example of Schwab's free wire transfers:

http://www.schwab.com/public/file/P-1036363/

"Wire transfer fee: With $100,000–$499,999 in Household Balances, you will receive three free online domestic wire transfers per quarter; with  $500,000 or more in Household Balances, or 36 or more stock or option trades per year in Accounts of Your Household, you will receive three free domestic wire transfers per quarter."

Almost 1 trillion dollars is transferred via wire transfer every day in the United States.

Source:

http://groups.csail.mit.edu/mac/classes/6.805/articles/money/ota-money-laundering/03ch2.pdf

An average of over 293,000 transactions are carried over Fedwire daily, transferring a daily average of over $841.4 billion. The average amount of funds moved by one Fedwire transfer is nearly $3 million, and the cost of one transfer is about 50 cents (see tables 2-2 and 2-3)
newbie
Activity: 56
Merit: 0
January 17, 2016, 01:41:09 PM
#12
I'm pretty impressed on this for bitcoin..
It proves that nowadays big transaction are done with bitcoins..
And too much people using bitcoin..
And second thing they chose bitcoin over banks.. as bank limitations and government controls are too much..
They believe and trust in bitcoin..
legendary
Activity: 1106
Merit: 1000
January 17, 2016, 10:30:42 AM
#11
Wow, This is the first time seeing these large amounts being sent in a transaction and could also this have some effect on the recent price rise? It's at $388 at the time of typing this, and would be nice to know how much was the biggest amount ever sent to anyone.

This is the biggest one: http://www.coindesk.com/194993-btc-transaction-147m-mystery-and-speculation/
sr. member
Activity: 274
Merit: 250
Negative rating was requested by me (SFR10)
January 17, 2016, 09:53:26 AM
#10
Wow, This is the first time seeing these large amounts being sent in a transaction and could also this have some effect on the recent price rise? It's at $388 at the time of typing this, and would be nice to know how much was the biggest amount ever sent to anyone.
hero member
Activity: 672
Merit: 500
January 17, 2016, 09:24:55 AM
#9
Nothing special. Just a big holder who might be moving his coins or looking to sell, but this happens quite often. I've seen transers of 100,000 BTC and more. It's easy with BTC.
legendary
Activity: 1946
Merit: 1007
January 17, 2016, 09:05:38 AM
#8
That's the nice thing about bitcoin. You can move those amounts in minutes to anywhere at any time.

No banks holding your transactions, because they are so big and may be fraudulent.

you also pay much lower fee, for that 1M block only 0.5 btc, which is not even $200(and it was a sum of many transaction, if it was done with a single transaction, i'm sure it could have been much lower)

i doubt you can move $400M dollars with a so low amount of fee

Agreed. 200 USD to move that amount of money is nothing at all.

For smaller transactions the fees might become a bit steep if nothing is done soon, but for large transactions bitcoin is still the way to go.
legendary
Activity: 896
Merit: 1000
January 17, 2016, 09:03:01 AM
#7
1000 btc transactions aren't interesting when you have seen transactions of at least 100,000 btc. transactions lower than 5,000 are quite common.
legendary
Activity: 3206
Merit: 1069
January 17, 2016, 08:40:13 AM
#6
that's big money and BTC serves the purpose so well.
That's the nice thing about bitcoin. You can move those amounts in minutes to anywhere at any time.

No banks holding your transactions, because they are so big and may be fraudulent.

you also pay much lower fee, for that 1M block only 0.5 btc, which is not even $200(and it was a sum of many transaction, if it was done with a single transaction, i'm sure it could have been much lower)

i doubt you can move $400M dollars with a so low amount of fee

I think in the fiat world only big institutions do that: how do you move that money so fast? With BTC that seems very easy

i'm curious how much fee those institutions, when for example the europe court lent those billions to greece, need to pay to move those very big amount
legendary
Activity: 2310
Merit: 1422
January 17, 2016, 06:50:14 AM
#5
that's big money and BTC serves the purpose so well.
That's the nice thing about bitcoin. You can move those amounts in minutes to anywhere at any time.

No banks holding your transactions, because they are so big and may be fraudulent.

you also pay much lower fee, for that 1M block only 0.5 btc, which is not even $200(and it was a sum of many transaction, if it was done with a single transaction, i'm sure it could have been much lower)

i doubt you can move $400M dollars with a so low amount of fee

I think in the fiat world only big institutions do that: how do you move that money so fast? With BTC that seems very easy
legendary
Activity: 3206
Merit: 1069
January 17, 2016, 06:41:30 AM
#4
That's the nice thing about bitcoin. You can move those amounts in minutes to anywhere at any time.

No banks holding your transactions, because they are so big and may be fraudulent.

you also pay much lower fee, for that 1M block only 0.5 btc, which is not even $200(and it was a sum of many transaction, if it was done with a single transaction, i'm sure it could have been much lower)

i doubt you can move $400M dollars with a so low amount of fee
legendary
Activity: 1946
Merit: 1007
January 17, 2016, 06:06:53 AM
#3
That's the nice thing about bitcoin. You can move those amounts in minutes to anywhere at any time.

No banks holding your transactions, because they are so big and may be fraudulent.
sr. member
Activity: 392
Merit: 250
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