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Thread: Anonymous trader buys $400 million in bitcoin

  1. #1

    Default Anonymous trader buys $400 million in bitcoin

    https://www.marketwatch.com/story/an...oin-2018-02-16

    Is that why it moved back above $10,000 this week?

    Go big or go home. That’s the motto of one mysterious investor who put his chips on the table, buying close to $400 million of the No.1 digital currency, bitcoin.

    The purchase comes as cryptocurrencies are making a comeback after a dreadful start to 2018. Major digital currencies lost as much as 50% to start the year as growing regulation and security fears crippled the market, seeing traders bail on their positions. However, the tide has turned.

    CFTC: Beware cryptocurrency pump-and-dump schemes

    The price of bitcoin BTCUSD, -0.28% has increased more than 60% since trading under $6,000 on February 6, pushing back above $10,000, helped by signs of growing recognition of digital currencies from officials in Washington.

    “Not sure who that big buyer was but many have bought this dip and have added since the rebound and additional regulatory clarity in the U.S. and Asia,” Alex Sunnarborg, Founding Partner of Tetras Capital said.

    The unknown trader with the bitcoin address 3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64 purchased the coins between Feb. 9 and Feb. 12, taking his bitcoin balance from 55,000 coins to more than 96,000.
    More at link.

    https://www.investopedia.com/news/bi...buyer-emerges/

    The buyer first bought bitcoin worth $344 million between February 9th and February 12th, when its price traversed the range between $8,500 and $8,900. The buyer doubled down on bitcoin by purchasing 41,000 coins, just before its price hit $10,000.

    The tweet will provide further ammunition to critics of the cryptocurrency. In the past, detractors have noted that despite bitcoin’s claims of being decentralized, its price is susceptible to being manipulated by "bitcoin whales," or investors and traders who hold large stashes of the virtual currency.
    Last edited by Zippyjuan; 02-16-2018 at 04:19 PM.
    Quote Originally Posted by NorthCarolinaLiberty View Post

    Half the crap I write here is just to entertain myself.
    I am Zippy and I approve of this post. But you don't have to.



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  3. #2

  4. #3

    Default

    The mysterious trader was a former Mt Gox executive. And he may be going to sell more.

    http://fortune.com/2018/03/07/nobuak...sells-bitcoin/

    Bitcoin's Famed Tokyo Whale Sold $400 Million and He's Not Done Yet

    He’s not your typical Bitcoin whale, but Nobuaki Kobayashi has become a force to be reckoned with in the cryptocurrency world.

    The Tokyo attorney and bankruptcy trustee for the now-defunct Mt. Gox exchange disclosed on Wednesday that he sold about $400 million worth of Bitcoin and Bitcoin Cash since late September. Kobayashi is sitting on another $1.9 billion of the tokens and will consider offloading those too as he raises cash to distribute to Mt. Gox’s creditors.

    Once the world’s biggest Bitcoin exchange, Mt. Gox filed for bankruptcy protection four years ago after disclosing that it lost 850,000 Bitcoins, then worth about $500 million. The company, which later said it recovered about 200,000 Bitcoins, blamed hackers for the loss.

    While Kobayashi didn’t provide details on his strategy for offloading the coins, he said he tried to get “as high a price as possible.” Disclosures in his report on the Mt. Gox website suggest his Bitcoin sales since September fetched the equivalent of $10,105 on average. The cryptocurrency was trading at $10,554 as of 10:17 a.m. London time on Wednesday.
    Quote Originally Posted by NorthCarolinaLiberty View Post

    Half the crap I write here is just to entertain myself.
    I am Zippy and I approve of this post. But you don't have to.

  5. #4

    Default

    *Scratches head*

    OP:
    Anonymous trader buys $400 million in bitcoin



    Third post:

    The mysterious trader was a former Mt Gox executive. And he may be going to sell more.

    http://fortune.com/2018/03/07/nobuak...sells-bitcoin/


    Bitcoin's Famed Tokyo Whale Sold $400 Million and He's Not Done Yet

    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc


    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  6. #5

    Default

    Related:

    http://www.bbc.com/news/technology-43291026

    UK company linked to laundered Bitcoin billions

    A UK company has been linked to the laundering of 650,000 stolen bitcoins worth 4.5bn, a BBC Radio 4 investigation has found.

    The coins were taken by hackers from Tokyo-based Bitcoin exchange Mt Gox, leaving tens of thousands of customers out of pocket.

    It's not clear who is in control of the London-based firm Always Efficient LLP.

    Mt Gox operator Mark Karpeles apologised to investors and said he was co-operating with the investigation.

    The FBI has charged a Russian national with laundering the stolen bitcoins.

    Mt Gox matched up those who wanted to buy the crypto-currency with dollars, pounds and other international denominations with those wanting to sell bitcoins, and handled an estimated 70% of the world's Bitcoin trade.

    The exchange was originally set up to trade cards from a game set in a world of wizards, spells and monsters. When it turned its focus to crypto-currencies, it appeared to be a huge success story.

    Almost half of Bitcoin trading is done in Japanese yen, and there's even a Japanese girl group, the Virtual Currency Girls, which reflects Japan's growing craze for virtual money.

    But a group of amateur investigators, WizSec, found that hackers had targeted Mt Gox.

    They had systematically pilfered users' accounts, hiding their tracks from Mt Gox operators for years.

    And in 2014, the site's chief executive, Mark Karpeles, made the horrifying discovery that hundreds of thousands of coins were missing.

    When customers found themselves unable to withdraw funds, the site collapsed.

    Speaking for the first time about the collapse to BBC Radio 4's File on Four programme, Mr Karpeles said: "It felt like… when you fall from a building and you see the ground getting closer, and you feel like you are about to die."

    He said the site had rapidly grown beyond his expectations.

    "Mt Gox went from interesting project to being, I would say, a daily nightmare of dealing with banks, governments, people I never knew existed."

    How the coins had gone missing was initially a mystery.

    But now investigators say almost half the stolen coins from Mt Gox ended up at rival exchange BTC-e.

    'Cyber-crime hub'
    The FBI says BTC-e was a hub for cyber-crime and helped to launder money from hacks, including ransomware attacks of the kind that hit the NHS and other organisations last year.

    But trying to find out who operates BTC-e isn't easy. The exchange claimed to be operated by a British company called Always Efficient LLP.

    Always Efficient's registered office is in east London, but the address is shared by several other firms, some of which are thought to be involved in money laundering.

    Duncan Hames, of anti-corruption group Transparency International, said it's likely to be a shell company.

    "People laundering money will set up a network of companies to create layers between the original crime and their attempts to then integrate the proceeds of their crime into the economy," he said.

    "They simply enable a series of transactions to take place to create this distance and to obscure the trail of the proceeds of crime."
    More at link.
    Quote Originally Posted by NorthCarolinaLiberty View Post

    Half the crap I write here is just to entertain myself.
    I am Zippy and I approve of this post. But you don't have to.

  7. #6

    Default

    Quote Originally Posted by dannno View Post
    *Scratches head*

    OP:
    Anonymous trader buys $400 million in bitcoin



    Third post:

    The mysterious trader was a former Mt Gox executive. And he may be going to sell more.

    http://fortune.com/2018/03/07/nobuak...sells-bitcoin/


    Bitcoin's Famed Tokyo Whale Sold $400 Million and He's Not Done Yet

    Sorry- focused on the $400 million and thought they were the same. Didn't read close enough.

    Buyers and sellers of that much can have a big effect on smaller markets like Bitcoin.
    Last edited by Zippyjuan; 03-07-2018 at 04:23 PM.
    Quote Originally Posted by NorthCarolinaLiberty View Post

    Half the crap I write here is just to entertain myself.
    I am Zippy and I approve of this post. But you don't have to.

  8. #7

    Default

    Quote Originally Posted by Zippyjuan View Post
    Sorry- focused on the $400 million and thought they were the same. Didn't read close enough.

    Quote Originally Posted by timosman View Post
    Posting more than reading.


    I think members should not be allowed to post more than they read. This resembles flashing and lowers the interaction quality on the forum. There are quite a few members engaged in this behavior. I don't think I have to bring their names up, I will just say, as a side note, all are affected by TDS.
    http://www.ronpaulforums.com/showthr...e-than-reading
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc


    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."






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