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Author Topic: A Mystery Person Just moved $1B worth of Bitcoin  (Read 227 times)
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September 14, 2019, 07:28:59 PM
 #21

That transaction is a little unsettling to say the least. If such an individual decides to exchange that amount of BTC for fiat the market will be temporarily distabilized.  However, I am convinced the owner(s) is a hodler if not they would have cashed out long ago.

Does it specify if it was moved to an exchange? Just being moved could mean an OTC sale, transfer to more secure storage, etc. Hopefully they would keep that OTC if they do decide to cash it out that way it doesn't flash crash the market.
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September 14, 2019, 07:48:56 PM
 #22

If I'm not mistaken, this is the news that has been spread few days ago that came from Huobi exchange.
There are some theories about it but nobody knows the exact identity of the owner/s of the address. Probably from Bakkt or from the exchange itself or from a very rich investor of Bitcoin. Nobody knows.
Yes, I do came across the news that this particular transaction took place from Huobi exchange. As we're getting close to the scheduled day for Bakkt launch, people might have kept funds prepared for the futures contract on Bakkt. Maybe this could also be a try to manipulate the market by one of the largest bitcoin holder. It is truly impossible to find the right person as well as the reason behind the same. This will get speculated for a short and further gets faded.




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September 15, 2019, 12:12:58 AM
 #23

this is ancient history bro. it happened ~10 days ago and there was a lot of speculation about it. it seems like independent is way too late with their getting news. lol

Quote
Such a large amount of bitcoin has the potential to crash the cryptocurrency market if it is cashed in for fiat currency.
since this is old, now we know that it could not.

Lol! When you said this is old news I imagine 2017 -18, but just 10 days ago and you sound like it happened years back and can't not have effect on the price! 10 days ago is pretty recent to me and could still poss as treat to the market in general, that's a huge amount and if it was actually withdrawn should have cause a dent in the price but not sure why yet.

But for this type of thing, something like a trading signal, its ancient. And yes, someone said a week ago things like "crash" when in reality it wouldn't be but a mere little fluctuation. Cheap bitcoin people would quickly buy back.

If it had happened 10 days ago, you would have not noticed except by looking at the usual price fluctuation.



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September 15, 2019, 12:41:14 AM
 #24

Why is this a mystery?

That is the reason why they chose to use Bitcoin rather than use the typical fiat transaction.

This is not a mystery since they are wanting to use cryptocurrency for the decentralization, so they can keep their anonymity. A lot of news about this flies in the past days so I think I would not be surprised that another person did it.

Maybe they are alarmed because of how much money is involve in it? I mean, a normal person would not transfer that amount in one go so I think people are curious on to who might that person or company who did this. To be honest, I don't really care much about this controversy but I'm surprised by the amount of money.

But I think It's probably a whale taking a some position in the market.

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September 15, 2019, 02:12:51 AM
 #25

Why is this a mystery?

That is the reason why they chose to use Bitcoin rather than use the typical fiat transaction.

This is not a mystery since they are wanting to use cryptocurrency for the decentralization, so they can keep their anonymity. A lot of news about this flies in the past days so I think I would not be surprised that another person did it.

I don't consider this a mystery. Companies, groups, whales or individuals can move their Bitcoin anytime as they wish, as long as this is not a hacker we should be fine, we should expect movements as large like that because this is what this technology is offering to us.

Bitcoin is decentralized and its main purpose is anonymity as long as those big transactions are not meant to dump in the market, it should be ok to us, with these transactions we can show that it's possible to move a very huge amount as long as its intention is legal.

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September 15, 2019, 03:01:01 AM
 #26

this is ancient history bro. it happened ~10 days ago and there was a lot of speculation about it. it seems like independent is way too late with their getting news. lol

Quote
Such a large amount of bitcoin has the potential to crash the cryptocurrency market if it is cashed in for fiat currency.
since this is old, now we know that it could not.

Lol! When you said this is old news I imagine 2017 -18, but just 10 days ago and you sound like it happened years back and can't not have effect on the price! 10 days ago is pretty recent to me and could still poss as treat to the market in general, that's a huge amount and if it was actually withdrawn should have cause a dent in the price but not sure why yet.

being "old" is relative, when we are speaking of a news affecting the price even a couple of hours makes the news old let alone days. that's how the market reaction to a news has always worked, it is right away. even in some cases the reaction comes BEFORE the news (like with insider information) and after the news is spread the price shows the effects within 6 to 12 hours.
10 days later after the news, everything is already done and over with!

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September 15, 2019, 03:32:11 AM
 #27

I don't want to know that person as I don't have any clue about who is he. I am interested in what will happen in the market if that bitcoin is sent into the exchanges because if that happens, the market will get down in a short time. If he sells a large amount of bitcoin in instant sell, then that will impact the price, and we will see another downtrend. I wonder who the analysts that are confused about that are, but I am sure that the analysts will search that person who already makes the transaction.

But even if they successfully found whoever made the transaction, no one can stop them from selling it. If they obtained their Bitcoin legally.
Absolutely so why bother finding who’s the people involved in this transaction when it has nothing to do with us?look at the market since this happens weeks ago yet market stays the same

This kind of story only brings bad impression the market why the truth is there’s nothing to be afraid of.and besides the bitcoins was just moved and not converted into fiat or something else



I think next time let’s not shared something like this because this is not helping the market instead it only brings negativity while the truth is we don’t need to

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September 15, 2019, 04:38:54 AM
 #28

Naturally, there are several entities that can carry out such transactions. Entitats in this case can be in the form of wallets with large bitcoin values, crypto exchanges, or the government, at least in theory. Imagine how much would it cost to send US $ 1 billion in banknotes? The advantage of the blockchain is clear in this case.

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September 15, 2019, 04:45:26 AM
 #29

I'm dreaming that one day I can move that huge amount, people not knowing who am I and moving at a price not even half even if I'm using a bank or a money transfer, I'm sure if I'm going to it they will ask me for a lot of verification because of the AMLAC even if it is legal.

But eveytime there is a movement of a very high amount we are worried because it could have an impct on the price if the mover dump it.


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September 15, 2019, 06:24:07 AM
 #30

I don't know why people are thinking this mysterious transaction is "very bullish" and will cause BTC to go to a new ATH or "very bearish" and cause BTC to crash to $5K.

Most likely its the exchange upgrading their cold storage practises and switched all their customers deposits to a more secure medium. Many exchanges do this from time to time. If it was that easy to predict bitcoin prices by just looking at huge transactions then everybody would be rich. Instead if some whale wants to sell large amounts of BTC they will do it in small chunks at random times and to different addreese not to set off any alarm bells. This is why these alerts are more for entertainment rather than actual trading advice.

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September 15, 2019, 12:39:40 PM
 #31

This news was really interesting, he/she will be known as the owner of 5th bitcoin wallet that has a lot of BTC or also known as the richest bitcoin wallet in history.

Since the OP didn't put the blockchain tx which I'm very curious about, I searched about it. Here's the link, https://www.blockchain.com/btc/tx/4410c8d14ff9f87ceeed1d65cb58e7c7b2422b2d7529afc675208ce2ce09ed7d
The BTC address received exactly 94,504.03465148 BTC from 1JCe8z4jJVNXSjohjM4i9Hh813dLCNx2Sy.

As of now, there still no claimant on the wallet even here in bitcointalk. Maybe its owner is the CEO of a known international company.

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September 16, 2019, 11:42:13 AM
 #32

It didn't affect the price of bitcoin, so why are you interested?
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September 16, 2019, 04:38:12 PM
 #33

0.5% is not that much, the fiat equivalent may look quite big to us but in bitcoin, it is not worth what we will be surprised about, people do make transactions on a daily basis and some of them happens in millions, this one is just looking strange to us because we are seeing it for the first time happen once.

If we are to calculate the whole transaction that has occurred within bitcoin in the last two months , I am sure that this is nothing compared to it. Maybe it is a whale that wants to sell his portion and I don't think that should panic us as we still have enough in the market cap, people are worried because it feels it may make the value of bitcoin drop, but if that happens, it would not take hours before the amount replaced through many people that would buy at that lower price.


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