$1B bitcoins on the move: MtGox vs SilkRoad origin and BTC crash discussed
This is the 4th 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 (1933phfhK3ZgFQNLGSDXvqCn32k2buXY8a).
The facts that part of this funds (>13%) have been transferred in the past month to Bitfinex, Binance and Bitmex exchanges is discussed here.
The origin of the bitcoins was originally discussed here.
A deep-dive into the wallet activity was discussed here.
Today I am writing a short update to discuss the origin of the funds and some events that could be related both to this wallet and yesterday's price crash. Wallet's origin This question has been discussed a lot by the crypto community in the past year. Here is a summary of the most probable hypothesis for the wallet's origin:
Wizsec, a prominent Bitcoin security expert, seems to be pretty sure that the wallet belongs to a MtGox hodler and early investor, who is not a DPR or a SilkRoad user, per his Twitter post: https://twitter.com/wizsecurity/status/1037030003068653569 Finally, Wizsec and I agree that this wallet is not CSW`'s wallet despite it is mentioned in several court documents. Wizsec spent a lot of time debunking CSW's ownership claims earlier this year: https://twitter.com/wizsecurity/status/968337084837781504 What do you think about this wallet origin? ` BTC price crash Also, I wanted to report some events that could be related to this 1933f wallet activity:
$100M USDT were transferred (reported by u/whalecheetah) while the 1933f wallet owner was in the process of transferring approximately the same amount to several exchanges;
a 10,000 BTC buy order was filed last night on Bitmex with 8,030 BTC transferred from a Bitfinex user wallet while the 1933f wallet owner transferred approximately the same amount of BTC to Bitfinex since August, 24th. Was this deal prepared or was the buyer a bitcoin angel?
Did your friends and family laugh at you when BTC crashed post-MtGox a few years ago? I can't wait to rub it in when they ask me, "Where can I buy some?". HAHAHAHA. -He who laughs last, laughs the longest- /r/Bitcoin
I know you guys don't like TA but the RSI on the daily BTCUSD-chart is as low as August 2015 which was the last dip before the long bullrun began and the bear market of the MtGox crash ended. Just sayin' /r/Bitcoin
The bankruptcy of "too big to fail" exchange MtGox lead to Bitcoin's Black February - during which the price crashe… https://t.co/c9kkBYwUYX - Crypto Insider Info - Whales's
Posted at: July 22, 2018 at 04:45AM By: The bankruptcy of "too big to fail" exchange MtGox lead to Bitcoin's Black February - during which the price crashe… https://t.co/c9kkBYwUYX Automate your Trading via Crypto Bot : https://ift.tt/2EU8PEX Join Telegram Channel for FREE Crypto Bot: Crypto Signal
[uncensored-r/Bitcoin] A classic from 2013 mtgox crash
The following post by linktype is being replicated because some comments within the post(but not the post itself) have been silently removed. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7vkz69 The original post's content was as follows:
12-05 10:22 - 'The signs of the MtGox crash were plastered on the walls. Anyone smart knew something was about to collapse, because the system was too centralised around MtGox. The exchange was being DDOSed every single day, and while it...' by /u/magpietongue removed from /r/Bitcoin within 3-13min
''' The signs of the MtGox crash were plastered on the walls. Anyone smart knew something was about to collapse, because the system was too centralised around MtGox. The exchange was being DDOSed every single day, and while it was being DDOSed everyone panic sold. The panic sells triggered stop loss orders, and the market was being gamed that way pretty easily. The price would recover once the DDOS stopped. The "big" crash was pretty much the same thing, except this time people had also learnt that during the crashes you could sell your coins and buy coins cheaply at the base of the manipulation. I tripled my coin pile that way. All the traders were trying to play "catch the knife". When the big crash finally happened, it was pretty much over in hours. It was the most violent market reaction I had ever personally witnessed. Edit: Also the wild sense of fear that overcame people during the crash was palpable. I was scared watching the red candles grow even after I had sold. If I remember correctly there was a sticky to a suicide hotline on this sub that week. I also remember that a lot of people gloated in the aftermath, saying "of course Bitcoin was never going to work - anyone who lost their money deserves it. bitcoin is a stupidity tax". ''' Context Link Go1dfish undelete link unreddit undelete link Author: magpietongue
Today when the "crash" happened, all the bitcoins in my mtgox account got sold with out me placing a sell order... the same thing happened to my friend. Did this happenen to anyone else?
I had 81 btc in my account, 0 usd. and no orders what so ever. at 1:33 central time I had 14Kusd in my account and 0 bitcoins. the same thing happened to my friend (he got hit worse, 200 btc) did this happen to anyone else?
Wont arbitrage cause prices to crash once mtgox allows bitcoin withdrawals?
Thinking about this clearly, won't all the people with fiat on gox buy the significantly cheaper bitcoins on gox and then dump them on other exchanges for a huge profit? Since the gox price is so much lower isn't gox btc withdrawals being re-enabled going to cause a mini crash?
Can someone explain why Mtgox is allowed to crash bitcoin?
I have been casually watching btc for the past 4 years and it seems that every major crash is related to Mt Gox . How come the community has allowed this? What is preventing other exchanges from making them irrelevant? Reading all your post gives me dejavu. Thanks
Bitcoin's volatile history in pictures The fall of MtGox. The world's biggest bitcoin exchange, MtGox, filed for bankruptcy in February 2014 after losing almost 750,000 of its customers bitcoins ... [ad_1] The now-defunct cryptocurrency exchange Mt. Gox reportedly liquidated around $312 million worth of Bitcoin (BTC) throughout February and June of 2018 through a Japanese exchange called BitPoint. GoxDox, an organization that was established to assist Mt. Gox creditors, released a photograph of a bank account statement on February 5 showing the alleged transactions sent … Mt. Gox Trustee May Have Crashed Bitcoin in 2018 by Dumping It on an Exchange, but There Is Still Hope. Read full article . Cointelegraph By Joseph Young. February 12, 2019, 10:08 AM. The now ... Bitcoin's volatile history in pictures The fall of MtGox. The world's biggest bitcoin exchange, MtGox, filed for bankruptcy in February 2014 after losing almost 750,000 of its customers bitcoins ... What followed was a major selloff (.) as MtGox traders tried to sell their coins and withdraw their funds, Bitcoin’s price crashed from an all time high of $1163 to a low of $387. Many argue ...
"Bitcoin can't crash because... MTGOX servers wouldn't be able to handle a crash" — webdev84, 8 days before Mt.Gox pulled the plug for 12 hours during the Bitcoin Crash of April 2013, dropping ... Bitcoin tips: 1N5h1CZsM4rKbuQGHuP62EuPzCk7AaCpBs Somebody asked for something like this on reddit.com/r/Bitcoin/new/. Hitler finds out Bitcoin survived the Mt.Gox crash. Bankrupt Japanese firm Mt Gox has said that it has found 200,000 lost bitcoins. The Tokyo-based exchange said it discovered the missing virtual currency in an old digital wallet. Mt Gox said the ... Kim Nilsson - Cracking MtGox Information on how mtgox got hacked from the breaking bitcoin meet up 2017 subscribe to TheBitcoinArmy youtube channel 🎡 World Crypto Con in Las Vegas with $325 Discount: https://bit.ly/2IdMLaK ️ Join the BitSquad on Telegram: https://bit.ly/2PG8knO We have started our $150 ...