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    Bitcoin Daily Discussion, September 03, 2018

    September 03, 2018

    Bitcoin Daily Discussion, September 03, 2018

    Daily Discussion, September 03, 2018

    Posted: 03 Sep 2018 02:00 AM PDT

    Please utilize this sticky thread for all general Bitcoin discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you!

    Daily threads are fast paced! If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.

    We have a couple chat rooms now. Come say hello.

    Please check the previous discussion thread for unanswered questions.

    submitted by /u/rBitcoinMod
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    $1B Bitcoins On The Move: Owner Transfers ~$100M to Bitfinex And Binance In 10 Days

    Posted: 02 Sep 2018 11:27 AM PDT

    $1B Bitcoins On The Move: Owner Transfers ~$100M to Bitfinex And Binance In 10 Days

    This is the third post of a series of articles dedicated to investigate $1B worth of bitcoins (111,114 BTC/BCH/... BXX) that were dormant since 2014 and started moving actively. The BTC coins were originally located at this address (15ihHoGs3onQBNnEH8afDFGvou9nD62Hm7).

    The origin of the bitcoins is discussed here.

    A deep-dive into the wallet activity was discussed here.

    Today, I will focus on the transfer to major exchanges wallets that could indicate that the owner is selling his coins or exchanging it with alts or mixing it to cover his back.

    I built a graph in order to deep dive into the transactions originated from the 111,114-BTC wallet and to follow it. This is the resulting graph were red indicates transactions <1 day, yellow <1 month, blue <1 year, green else.

    https://i.redd.it/nk3iov045vj11.png

    ​

    I found that at least 15,593 BTC originated from the 111,114-BTC wallet have been moved to Bitfinex and Binance wallets. This represents 14% of the original funds and more than $110M.

    ​

    Bitfinex wallet

    ​

    https://i.redd.it/m8fryy8s5vj11.png

    ​

    11,114 BTC have been transferred to Bitfinex wallet 1Kr6QSydW9bFQG1mXiPNNu6WpJGmUa9i1g and the majority of these coins have been transferred in the last 7 days (August 24th - September 2nd).

    Here is the list of the transactions:

    https://i.redd.it/8e9l0lqf0vj11.png

    ​

    Binance wallet

    ​

    https://i.redd.it/i1v5lv3j9vj11.png

    ​

    4,421 BTC have been transferred to Binance wallet 1NDyJtNTjmwk5xPNhjgAMu4HDHigtobu1s and the majority of these coins have been transferred in the last 10 days (August 21st - September 2nd).

    Here is the list of the transactions:

    https://i.redd.it/2cs6ufabavj11.png

    Bitmex wallet(s)

    ​

    I tracked Bitmex as well but "only" found 210 BTC transferred in with the following 6 major transactions:

    https://i.redd.it/2oondki1ovj11.png

    ​

    Also, I have found 350 BTC transferred from Bitmex wallets though, maybe after being "washed out":

    https://i.redd.it/sx2g36jnovj11.png

    ​

    Update 1

    If anyone finds info about the owner of this address: 3PtJRj5xKUKJ21TshP5u2G6dQMPNz2yUSc, I would be interested, thanks.

    ​

    Update 2

    Here is a full resolution version of the graph requested by u/rush717:

    https://i.redd.it/xwvn0l9yxxj11.png

    ​

    T.B.C.

    ​

    Surprisingly BTC price is pumping since those funds were starting to be transferred to Bitfinex and Binance wallets (see Binance transactions' list, August 11th)

    How do you think this will impact the market?

    Do you want me to continue this investigation? If yes let me know what you would want me to focus on.

    submitted by /u/sick_silk
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    Wait, now Argentina is in a full on currency crisis too!

    Posted: 02 Sep 2018 10:23 PM PDT

    A GPU's Nightmare

    Posted: 02 Sep 2018 09:54 PM PDT

    Found my first Bitcoin ATM in the wild! in the Flatiron district in NYC.

    Posted: 02 Sep 2018 06:34 PM PDT

    Spotted in Vancouver - notice the license plate.

    Posted: 02 Sep 2018 11:48 AM PDT

    If you think this is a sucker's rally, then you've just proven this chart right

    Posted: 02 Sep 2018 07:22 PM PDT

    Bitcoin spotted at Michigan State Game

    Posted: 02 Sep 2018 02:10 PM PDT

    Is it a good time to buy BTC?

    Posted: 02 Sep 2018 10:16 PM PDT

    Just saw the 7,300 brake, hoping we get a bullrun, what do u guys say?

    submitted by /u/GariboGames
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    Just tripled my money on Lightning Spin, but cannot create withdraw transaction.

    Posted: 02 Sep 2018 04:27 PM PDT

    I got some funds on the LN and tried out Lightning Spin. I tripled my money, but because my new LN balance would be greater than my original LN balance I'm unable to create a LN invoice to request my balance on Lightning Spin.

    ​

    The LN isn't letting me receive more than I originally put onto the LN. This doesn't seem right. Am I missing something?

    submitted by /u/redpepper261
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    With so many people hopping on the bitcoin train, is it too late for newbies?

    Posted: 02 Sep 2018 06:34 PM PDT

    I just invested in my first batch of bitcoin (and other crypto). I invested $5 which obviously is next to nothing. So, is it too late for me to hop on this bitcoin thing? I'm having a hard time understanding how I can own a fraction of a bitcoin. Is it meaningful to own a whole bitcoin?

    submitted by /u/mackenzor
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    Despite Struggle, Bitcoin predicted to reach high of $20K: Tom Lee

    Posted: 02 Sep 2018 10:24 PM PDT

    How Bitcoin Works - "This is fine" meme, Bitcoin Edition

    Posted: 02 Sep 2018 08:28 AM PDT

    Bitcoin surge expected as $100m Tether goes to Bitfinex exchange

    Posted: 02 Sep 2018 11:10 PM PDT

    Finally a place to buy all the bitcoin I want.

    Posted: 02 Sep 2018 04:06 PM PDT

    Bitcoin & Crypto Markets Move Up Again! Will The Rally Continue?

    Posted: 02 Sep 2018 09:34 PM PDT

    Lykke exchange on payment channels similar to lightning network

    Posted: 02 Sep 2018 09:16 PM PDT

    I have 5 Bitcoin parked in an Electrum wallet.

    Posted: 03 Sep 2018 12:06 AM PDT

    Throwaway.

    The Electrum wallet is part of a bootable Tails installation. The code for both Tails and Electrum are both open source. I never use the bootable Tails for anything other than using the Electrum wallet, and when I'm done the machine is powered off.

    Recently there was a post about a guy having something like 55 Bitcoin stolen off his machine through what he thought was some sort of Remote Desktop virus, as the wallet software was open on his PC when he woke up, and it wasn't open when he went to bed.

    Everyone in the thread kept saying hardware wallet, hardware wallet.

    I use iPhone, Trezor doesn't work with iPhone, but honestly I've never been too keen with not being able to access the firmware on the hardware wallet and just having to hope that the one I ordered hasn't been comprised in the supply chain. So, I decided on Electrum as it is a well-established project, it is open-source, which allows me to feel reasonably certain that the code has been reviewed and checked for bullshit. Unlike Breadwallet, which I love, but ultimately must run on my closed-platform iOS, and because of that can never be really trusted.

    I suppose my question is; Honestly, am I truly living dangerously by keeping my 'life savings' in what is technically a 'hot-wallet', even though my use of that hot wallet is pretty much the textbook definition of safe practice?

    submitted by /u/rbitcointhrowaway5
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    Volume of Large Sum BTC Transactions Surged 22% Within 24 Hours

    Posted: 02 Sep 2018 11:28 PM PDT

    Citing data from TokenInsight, the volume of large sum (over 100 BTC/tx) of Bitcoin transactions accumulated to 3,611,019.42 BTC between 02:00 (UTC) on Sept 2nd to 2:00 on the 3rd, seeing a 22.1% increase from the last 24-hour span. The number of large sum transactions reads 1,069, seeing a 12.29% increase.

    The transaction with the largest sum was initiated by Bitfinex's hot wallet, transferring a total of 14,470.6569 BTC.

    The second largest came from Mt.Gox, the infamous fallen exchange. It transferred 5,000 BTC, 3,999 out of which were internal transfers and the other 1000 something went to newly registered addresses.

    Coinness : Real-time market index and news on cryptocurrency

    submitted by /u/JoeyBran
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    Why are miners refusing to mine the ~2MB of mem-pool txs with sub-1-sat/b fee?

    Posted: 02 Sep 2018 05:51 PM PDT

    I mean, it's not a big deal, if they cartellize to only mine 1 sat/b or higher txs, but why?

    Is there a good, i.e. technological reason for that?

    As you can see, the last few blocks were all well under 1MB, but yet the mem-pool doesn't get completely drained:

    https://i.imgur.com/Ms3ZIw4.png

    submitted by /u/Renben9
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    Google bought your banking data and thats not even the bad news

    Posted: 02 Sep 2018 02:40 PM PDT

    Bitcoin will crush the massive over-indebtedness and money-printing system that leads us straight…

    Posted: 02 Sep 2018 07:17 AM PDT

    Bitcoin Trader

    Posted: 02 Sep 2018 09:07 PM PDT

    LEOOY: Accelerating the development of the tourism industry with blockchain as the medium

    Posted: 03 Sep 2018 02:54 AM PDT

    LEOOY: Accelerating the development of the tourism industry with blockchain as the medium

    With the enthusiasm of "Technology Era + Essays Era", LEOOY is the first to introduce blockchain technology into the travel industry and develop blockchain tourism.

    In the new information technology era, the text travel industry has stood at the fork of humanities and technology. Artificial intelligence, big data, and cloud computing have all entered the travel industry. The blockchain travel platform headed by LEOOY will begin to Blockchain technology is used in tourism. The development of the travel industry and the development of scientific and technological forces must complement each other. How can the modern travel industry break through the boundaries of form and industry and usher in new peaks?

    ​

    https://i.redd.it/ktpgtba5xzj11.png

    The bottleneck of technology companies is low conversion rate, and the bottleneck of the tourism industry is low industrial efficiency. Technology brings time to the imagination of tourism, and tourism brings space to imagination. The OTA platform is the most widely used in the travel industry. It can even be said to be a monopoly. Tourism is ultimately an industry, not a sentiment, how to industrialize and standardize, and turn it into a liquidity. The scale of the commercial body, the power of new technology is still very important.

    A typical problem encountered by the tourism industry is that consumers and markets rely on traditional OTA platforms for transportation and hotel bookings and transactions. But with the increase in usage, the drawbacks have made many consumers miserable.

    ​

    https://i.redd.it/331jpdm6xzj11.png

    Consumer price issues, market service providers' cost issues, and various reports of deceiving consumers for marketing purposes are also emerging. The problem for consumers is that the quality of service providers is not in place, the prices of scenic spots and transportation are too expensive, and the implicit terms of the platform are too "pit people." The problem with enterprise service providers is that the platform is too expensive, resulting in large cost and inability to match the consumer quality at the same price, resulting in low corporate reputation.

    ​

    https://i.redd.it/1q0runz7xzj11.jpg

    The development of a service-oriented industry, consumers and enterprises are the mainstays, the new blockchain technology has the characteristics of "decentralization", and the third-party intermediary platform is removed. Tourist service providers can directly connect with tourists, and visitors can pass the blockchain. The technology-based blockchain travel platform can query the scenic spot online, book hotels, etc. The information in all blocks can not be falsified, open and transparent to ensure the authenticity of the information. Real-time settlement through point-to-point smart contract, saving the cost of service providers, reducing consumer prices and ensuring the interests of consumers.

    ​

    https://i.redd.it/c68z7459xzj11.jpg

    The tourism industry is a service-oriented industry. Enterprise service providers and consumers are the two main players. The occurrence of each bottleneck is due to the contradiction between these two main bodies, which leads to the development of smoothness. Therefore, in order to accelerate the development of the tourism industry, It is to develop new information technology forces to balance and resolve the contradiction between the two.

    When tourism service providers pay more attention to the quality of service provided, and tourism consumers are not entangled in some problems of cost and experience, tourism consumers will pay attention to the meaning of culture and tourism, and will be more willing to participate, and blockchain tourism. The technical characteristics can be said to be a timely rain. Its emergence must be strong and powerful for the development of the accelerated text travel industry.

    ​

    submitted by /u/LEOOYCTC
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    Bears seeing Bitcoin price break $7300

    Posted: 02 Sep 2018 12:25 PM PDT
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