Post
Topic
Board Speculation
Re: bitcoin bear chart
by
MaxwellsDemon
on 22/12/2013, 19:23:29 UTC
and copy and paste

"I've done a bit of blockchain exploring.

The block in question where all the bitcoin days were destroyed is this one:

https://blockchain.info/block/00000000000000048445e1220a78e53de15c74160ffbe4dad0b52099560e045f

About 120,000 btc were moved. There are many transactions in this block in the 4,500-5,000 btc range. I followed the source addresses back in time. The ones I've looked at all trace their heritage to this monstrous transaction from 27 January 2011:

https://blockchain.info/tx/8f8210694d3631a88ff410c573d80caf57db1d8af397bd47687aa4e4c1802464

A single transaction moved 400,000 btc to a single address; this one:

https://blockchain.info/address/1AYtnRppWM7tWQaVLpm7TvcHKrjKxgCRvX

So whoever made the transaction yesterday had 400,000 btc in a single address in 2011. If it isn't Satoshi, who the hell is it?

Note that that 1AY... address had some transactions on 26 November this year; shortly before the ATH on 28 November. A huge whale, perhaps the biggest single holder of btc in existence, is stirring. The question is, why?

EDIT: 400,000 btc in early 2011 was almost 10% of all btc in existence. In a single address. Wow."


Wow... You're right, I missed that. ~120k coins, a bit over 1000 days old. And it's pretty clear they were sold, because all the outputs just moved 'as is' to new addresses. No splitting, merging, mixing, or otherwise rearranging. Why would someone do that if not to simply transfer the funds to someone else?

Note that the transactions on Nov. 26 were of negligible quantity; however, if you follow some of the money around, it kinda looks like some of it was sold during 2012.