[WTF] MtGox moving ~432k BTC (4 to 12 million $) to a single address !

davout

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1davout

Quote from: Maged on June 12, 2011, 08:28:32 PM

There is nothing odd at all about this. He's just transferring most of MtGox's coins off-site. That means that you won't be able to access these funds even if you had root access to his server. This is a GOOD thing. In fact, I'd be worried if we DIDN'T see this.

MagicalTux is a smart guy, if he really wanted to consolidate all the coins he would probably have dispatched them to multiple addresses.
Because even if highly unlikely address collisions could occur, but a better reason would be to not leak so much information, because with that transfer I can see how much money was sent in, at what time it was sent in etc.

Again, I'm just curious

cypherdoc

legendary

Activity: 1764

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Quote from: Kman54 on June 13, 2011, 01:47:03 AM

Quote

As the "official" bitcoin forum, this is just an embarrassment.

This is true, this forum is doing nothing to help the market and its been trolled harder then I've seen any forum trolled.

what do u expect? there's money involved.

Kman54

newbie

Activity: 52

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Quote

As the "official" bitcoin forum, this is just an embarrassment.

This is true, this forum is doing nothing to help the market and its been trolled harder then I've seen any forum trolled.

kr105

hero member

Activity: 938

Merit: 501

Quote from: Quantumplation on June 13, 2011, 12:49:42 AM

Quote from: FreeMoney on June 13, 2011, 12:46:51 AM

Quote from: ctoon6 on June 13, 2011, 12:30:40 AM

I think it's a bad idea to have all your Ƀ on 1 address, what if you won the lottery and randomly pulled that address when you made a new one? If I were them I would have no more than Ƀ1k per address.

Winning the lottery: 1 in 10^7
Taking the money from that address: 1 in 10^140

Hmm, only 20 times harder.

Math is so hard!

Apparently math is hard, because it's actually 10^133 times harder.

Turn on your sarcasm meter Grin

Quantumplation

sr. member

Activity: 308

Merit: 250

Quote from: FreeMoney on June 13, 2011, 12:46:51 AM

Quote from: ctoon6 on June 13, 2011, 12:30:40 AM

I think it's a bad idea to have all your Ƀ on 1 address, what if you won the lottery and randomly pulled that address when you made a new one? If I were them I would have no more than Ƀ1k per address.

Winning the lottery: 1 in 10^7
Taking the money from that address: 1 in 10^140

Hmm, only 20 times harder.

Math is so hard!

Apparently math is hard, because it's actually 10^133 times harder.

ctoon6

sr. member

Activity: 350

Merit: 251

Quote from: FreeMoney on June 13, 2011, 12:46:51 AM

Quote from: ctoon6 on June 13, 2011, 12:30:40 AM

I think it's a bad idea to have all your Ƀ on 1 address, what if you won the lottery and randomly pulled that address when you made a new one? If I were them I would have no more than Ƀ1k per address.

Winning the lottery: 1 in 10^7
Taking the money from that address: 1 in 10^140

Hmm, only 20 times harder.

Math is so hard!

it is still possible and its never a bad idea to be safe than sorry.

FreeMoney

legendary

Activity: 1246

Merit: 1014

Strength in numbers

Quote from: ctoon6 on June 13, 2011, 12:30:40 AM

I think it's a bad idea to have all your Ƀ on 1 address, what if you won the lottery and randomly pulled that address when you made a new one? If I were them I would have no more than Ƀ1k per address.

Winning the lottery: 1 in 10^7
Taking the money from that address: 1 in 10^140

Hmm, only 20 times harder.

Math is so hard!

JohnDoe

sr. member

Activity: 392

Merit: 250

Quote from: jgarzik on June 12, 2011, 11:43:58 PM

As the "official" bitcoin forum, this is just an embarrassment.

Subjective. Your goatee could be thought of as an embarrassment as well.

ctoon6

sr. member

Activity: 350

Merit: 251

I think it's a bad idea to have all your Ƀ on 1 address, what if you won the lottery and randomly pulled that address when you made a new one? If I were them I would have no more than Ƀ1k per address.

imperi

full member

Activity: 196

Merit: 101

Quote from: jgarzik on June 12, 2011, 11:43:58 PM

Quote from: onesalt on June 12, 2011, 09:08:23 PM

If no one invests in making their marketplace or site bitcoin capable because all they see is insane paranoid scheziophrenics who believe the government wiretapped their bathroom to steal their bitcoins then how is it ever going to get popular support? I want bitcoin to succeed, it's an excellent idea but currently the community seems to be really trying to destroy it (announcing they're going to use it for tax evasion, purchasing drugs, government conspiracies and such like).

We're working on a forum reboot, switching the current mess for a more business-professional one at weusecoins.

As the "official" bitcoin forum, this is just an embarrassment.

Thank you!! I'm really glad you're doing this. Keep up the good work!

jgarzik

legendary

Activity: 1596

Merit: 1091

Quote from: onesalt on June 12, 2011, 09:08:23 PM

If no one invests in making their marketplace or site bitcoin capable because all they see is insane paranoid scheziophrenics who believe the government wiretapped their bathroom to steal their bitcoins then how is it ever going to get popular support? I want bitcoin to succeed, it's an excellent idea but currently the community seems to be really trying to destroy it (announcing they're going to use it for tax evasion, purchasing drugs, government conspiracies and such like).

We're working on a forum reboot, switching the current mess for a more business-professional one at weusecoins.

As the "official" bitcoin forum, this is just an embarrassment.

onesalt

hero member

Activity: 756

Merit: 500

Quote from: rezin777 on June 12, 2011, 07:59:41 PM

Quote from: onesalt on June 12, 2011, 07:49:12 PM

Seriously, it's thoughts like this that are destroying bitcoin. If people keep this "huh something I don't understand is going on IT MUST BE THE GOVERNMENT DOING IT TO DESTROY ME" the only thing people will think when they think bitcoin is insane, tinfoil hat wearing loonies and it'll never be taken seriously, and I don't want that to happen, So please stop doing it.

Destroying Bitcoin?

People will post what they post. The internet makes it so easy to be the unshaven, unwashed, whiskey breathing, flea ridden guy standing on the corner with a cardboard box sign that says "The end is nigh, commit your first born unto me". No serious investor makes a move because of something some random guy said on an internet forum. And if they do, thank Stimpy that we can profit from their lack of insight and shortsightedness.

If no one invests in making their marketplace or site bitcoin capable because all they see is insane paranoid scheziophrenics who believe the government wiretapped their bathroom to steal their bitcoins then how is it ever going to get popular support? I want bitcoin to succeed, it's an excellent idea but currently the community seems to be really trying to destroy it (announcing they're going to use it for tax evasion, purchasing drugs, government conspiracies and such like).

Durr

newbie

Activity: 28

Merit: 0

MtGox is going short

k

sr. member

Activity: 451

Merit: 250

what happens when people buy BTC for $ on MtGox, won't it need to come from this address http://blockexplorer.com/a/8d7f1vDvvw? it's still all there. do people leave that much BTC with MtGox that ~432k BTC can be put aside and still meet the demand of people buying BTC?

Maged

legendary

Activity: 1204

Merit: 1015

There is nothing odd at all about this. He's just transferring most of MtGox's coins off-site. That means that you won't be able to access these funds even if you had root access to his server. This is a GOOD thing. In fact, I'd be worried if we DIDN'T see this.

rezin777

full member

Activity: 154

Merit: 100

Quote from: onesalt on June 12, 2011, 07:49:12 PM

Seriously, it's thoughts like this that are destroying bitcoin. If people keep this "huh something I don't understand is going on IT MUST BE THE GOVERNMENT DOING IT TO DESTROY ME" the only thing people will think when they think bitcoin is insane, tinfoil hat wearing loonies and it'll never be taken seriously, and I don't want that to happen, So please stop doing it.

Destroying Bitcoin?

People will post what they post. The internet makes it so easy to be the unshaven, unwashed, whiskey breathing, flea ridden guy standing on the corner with a cardboard box sign that says "The end is nigh, commit your first born unto me". No serious investor makes a move because of something some random guy said on an internet forum. And if they do, thank Stimpy that we can profit from their lack of insight and shortsightedness.

k

sr. member

Activity: 451

Merit: 250

why start a new thread when this was already being discussed here http://forum.bitcoin.org/index.php?topic=15984.msg209464#msg209464

onesalt

hero member

Activity: 756

Merit: 500

Quote from: davout on June 12, 2011, 04:45:05 PM

This transaction (432kBTC) is MtGox moving money.

Why is mtgox moving so much money ??

Compromised server ? Japanese governement raid ? Routine maintenance ?

Something smells pretty fishy...

I'll be very reassured when trading is possible again and funds withdrawable...

Seriously, it's thoughts like this that are destroying bitcoin. If people keep this "huh something I don't understand is going on IT MUST BE THE GOVERNMENT DOING IT TO DESTROY ME" the only thing people will think when they think bitcoin is insane, tinfoil hat wearing loonies and it'll never be taken seriously, and I don't want that to happen, So please stop doing it.

cypherdoc

legendary

Activity: 1764

Merit: 1002