Silk Road forums
Discussion => Silk Road discussion => Topic started by: UKMJ on June 23, 2012, 08:31 pm
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this is the list of the top 100.
http://bitcoinreport.blogspot.co.uk/2011/05/bitcoin-top-100-rich-list-27th-may-2011.html
wonder if no.1 is Tony76?
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No flies on you.
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from 2011?
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197 000 BTC * $6.5 = $1 930 500
I think it's one of the original developers, or somebody who invested in bitcoin bigtime (probably at an early stage, even at the early stages of bitcoin it still had to be an investment of $18 000). Or maybe somebody is just a very creative tax evader.
I don't think it's an SR vendor, they need the liquidity too much to save so many bitcoins.
Also, you see there 21 accounts with exactly 10 000 BTC on them. It is very likely that some of them are owned by the same person.
I don't think we are going to find out. Very interesting post though. Thanks.
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seems like a giant waste of money to hold up everything you own in a ecurrency that could fail at any time and is basically useless in actual life...
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take a look at that top address
http://blockchain.info/address/1PZjfkLZBT7Q3UFmyEWH8QtuzTMi3MUiBj
current balance 0
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Yes. But if it gets widely accepted, then prices will sky rocket. A few news reports or movie reference, might already cause that. And then, that person might become a billionaire.
I've been looking at previous posts of that blog, and then you see there's a lot of 'moving' going on. In August 2011, there are over 30 accounts with 10 000 btc in them. And the top account has something like 100 000 in it. Then, if you look in December, 10 of those with ten thousand have disappeared, and the top account has almost 300 000 in it.
So I get the impression that many of those accounts are owned by the same person or group, who in reality is even richer than we think.
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yup, one person is holding all those coins. its me! This is awesome, i didnt have any idea the bush depression was that bad. i really assumed that was a small amount of coin
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DPR must be bossing it come to think of it
Whatever strategy he has for cashing out without drawing attention must be genius. Because from a statistical point of view, you can spot an SR tumbler ages away.
I just hope security is as good as we think it is.
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he's not really worth $3m. if he dumped all those coins onto the market right now it would crash the market and he'd lose a bunch of money. to put it another way, is there anyone out there looking to buy $3 million in bitcoins? no. so he's kinda stuck with them.
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he's not really worth $3m. if he dumped all those coins onto the market right now it would crash the market and he'd lose a bunch of money. to put it another way, is there anyone out there looking to buy $3 million in bitcoins? no. so he's kinda stuck with them.
No but he could sell $100,000 per day, easily.
As long as he undercuts market price by ever so slight, like 0.0999.. He'll sell that many.
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I think it's pretty obvious that whoever set up bitcoins was going to reap it in big. I mean it's an unregulated stock market pretty much and I would think if normal brokers can figure out how to manipulate the real market then the inventors of the btc can figure out how to manipulate their own market and have probably all along meant to reap the benefits. I am still convinced the gov or someone in it is in charge of this whole thing no matter how crazy I sound.
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he's not really worth $3m. if he dumped all those coins onto the market right now it would crash the market and he'd lose a bunch of money. to put it another way, is there anyone out there looking to buy $3 million in bitcoins? no. so he's kinda stuck with them.
I've been following TheBitcoinTrader and while I hope you're right in saying that this person won't sell USD 3 Million of coins, the effect of doing would be a lot less dramatic than it would have been a year ago :
http://www.thebitcointrader.com/2012/05/bitcoins-liquidity-third-look.html
Of course by a "lot less dramatic" I mean the Bitcoin would probably fall in value by around 605 rather than 600% so it would still be bad!
As you say it seems the only viable solution would be to continue investing the coins and reaping the profits or cash them out slowly over a longer period of time. The owner has 7 years after all :-)
V.
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Without a doubt he's waiting until 2017-ish when there are no more Bitcoins to be mined, the price of Bitcoins will rocket and the currency will then become unusable, he'll be our 'savior' and release his stockpile into the market at ludicrous prices and then cash out.
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looks like o-scar nailed my plan
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Without a doubt he's waiting until 2017-ish when there are no more Bitcoins to be mined, the price of Bitcoins will rocket and the currency will then become unusable, he'll be our 'savior' and release his stockpile into the market at ludicrous prices and then cash out.
I've never understood that. Why is the mining finite? This would just mess up the currency in the future.
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I've never understood that. Why is the mining finite? This would just mess up the currency in the future.
The client is already forcing users to pay 0.0005 per KB if the tx is over 1k. If you've received coins from a lot of different addresses you are almost guaranteed to pay it, and as BTC continues to distribute into smaller and smaller amounts on a per address basis via the output tx's etc, pretty soon almost every btc tx will require some kind of fee. Most wallet services just eat the fee and the customer never sees it.
I was skeptical about the survival of the currency after mining phased out, but not any more. The network will be tuned to require small tx fees and that will be the new bounty for the BTC. I encourage every one to set their client to pay 1 or more mBTC per KB fee. I like the idea of paying the network for the service of handling my tx, especially when its only about a nickle or two. If Bank CC, check and debit fees were this low it would put a lot more money in consumers and vendors pockets.
BTC FTW!
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my understanding was that BTC mining was designed so that the last coin was mined in 2140?