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| December 12, 2018

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Previously Inactive Whales Are Moving Large Amounts of BTC

December 6, 2018 |

Earlier this week, armchair sleuths began pointing out that large amounts of cryptocurrency from long-dormant addresses have been on the move. For instance, one wallet that’s been inactive since its inception in 2013 moved 66,452 BTC — worth around $ 245 million — to an unknown address. Hours later, a few more addresses from the top 20 rich list moved another $ 728 million worth of BTC.      

Also read: Eight Historic Bitcoin Transactions

More Than $ 1.5B Moved From Dormant BTC Wallets

Cryptocurrency markets have been dreadfully bearish lately and have lost considerable value. Some people have blamed whales, as those who hold large quantities of digital assets are known, for dumping coins on markets to scare people enough to panic sell, so they can then scoop up more at cheaper rates.

Traditionally, during such bearish times, bitcoin enthusiasts have concocted all kinds of crazy theories about these massive holders. But it doesn’t help when big whales actually start moving large amounts of BTC from wallets that have been inactive for years.

Previously Inactive Whales Are Moving Large Amounts of BTC

On Tuesday, according to data from the Whale Alert bot and various blockchain explorers, more than $ 1 billion worth of BTC was shifted out of four dormant addresses to other wallets. The following day, more than 151,000 BTC — valued at over $ 562 million — was moved from other long-inactive wallets to a number of previously unknown addresses.

But big holders of cryptocurrency are not just moving BTC. Large sums of ETH, XRP, BCH and all of the stablecoins have also been shifting around. In one instance on Dec. 5, a bitcoin cash transaction worth around $ 13 million was done for less than a penny. And the night before the BCH hard fork on Nov. 15, an address moved more than 1 million BCH ($ 300 million) to another wallet.   

Internet detectives later discovered that the owner of the wallet that shifted 66,452 BTC had actually moved a whopping 608,000 BTC, valued at roughly $ 2.5 billion. According to one person investigating the matter, the 608,000 BTC was moved by one entity in a five-day period to roughly 76 different wallets. “The coins didn’t move out since 2013-2015,” explained a Twitter user named Spiry.

Whale Watching in Crypto Bear Markets

Whale sightings are a hot topic this year, as people have noticed a number of big movements in recent months. Back in February, most cryptocurrencies had already lost 60 percent of their value after touching all-time highs in mid-December 2017. At the time, news.Bitcoin.com reported that the top 100 biggest BTC addresses had made a lot more money due to the bearish decline.

In fact, many of those whales had sold their holdings one to three months prior to the big dips in value, only to later gather more coins once they had become cheaper. Then in May of this year, cryptocurrency enthusiasts once again started talking about Nobuaki Kobayashi, the Mt. Gox trustee who had previously revealed plans to sell tens of thousands of BTC and BCH that had been held in the custody of the Japanese court system.

Previously Inactive Whales Are Moving Large Amounts of BTC

Mysterious movements of large sums have fueled a lot of speculation during the past year of continuous price declines. Similar whale movements and big BTC settlements were also seen during the bear market of 2014-15. But at that time, instead of talking about whales like the Mt. Gox trustee, bitcoiners were mainly discussing the U.S. Marshals Service’s sale of thousands of BTC that had been seized in the Silk Road bust. There are a lot of similarities between then and now — whales moving coins to wallets and exchanges are not out of the ordinary.

What do you think about the recent reports of whales moving large sums of BTC and other coins? Let us know in the comments section below. 


Images via Shutterstock, Twitter, Whale Alert, Pixabay, and Jamie Redman


Need to calculate your bitcoin holdings? Check our tools section.

The post Previously Inactive Whales Are Moving Large Amounts of BTC appeared first on Bitcoin News.

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200 Whales Die in New Zealand in the Past Week

December 1, 2018 |

Fifty-one pilot whales died Friday in another mass stranding in New Zealand, the AP reports, less than a week after 145 pilot whales and nine pygmy killer whales perished in two other, unrelated strandings. In the latest stranding, up to 90 pilot whales beached themselves late Thursday at Hanson Bay…
Newser

CNN

More than 140 whales dead after mass stranding in New Zealand

November 26, 2018 |

As many as 145 whales have died after being found stranded on a remote beach in New Zealand, conservation officials said Monday.
CNN.com – RSS Channel – World

In Dead Whale’s Belly, a Horrifying Collection of Plastic

November 20, 2018 |

A dead whale that washed ashore in eastern Indonesia had a large lump of plastic waste in its stomach, including drinking cups and flip-flops, reports the AP . The discovery caused concern among environmentalists and government officials in one of the world’s largest plastic-polluting countries. Rescuers from Wakatobi National Park found…
Newser

The Daily: Whales Join China’s Richest Ranks, Seniors Take a Swing at Bitcoin

October 11, 2018 |

The Daily: Whales Join China’s Richest Ranks, Seniors Take a Swing at Bitcoin

In today’s edition of The Daily, we look at the cryptocurrency entrepreneurs who now rank among the richest people in China, the limited return to operations of 1Broker, and a rather amusing attempt to explain Bitcoin to older folks by the AARP.

Also Read: London’s LBX Launches Solution for Bank-Shunned Crypto Companies

China’s Wealthiest Whales

The Daily: Whales Join China’s Richest Ranks, Seniors Take a Swing at BitcoinThe Hurun China Rich List 2018, the Chinese answer to the Forbes 400, was released on Wednesday and for the first time includes a total of 14 people working in the cryptocurrency space. This is the 20th annual ranking of the richest individuals in China, with a wealth cut-off of 2 billion yuan ($ 290 million). A total of 1,893 individuals made the list this year.

Two Bitmain executives — Zhan Ketuan (95th place with 29.5 billion yuan), age 39, and Jihan Wu (204th place with 16.5 billion yuan), age 32 — led the way. The third Chinese crypto whale, 41-year-old Binance founder Zhao Changpeng, took 230th place on the list at roughly 15 billion yuan. The report also noted that the blockchain industry is now officially the fastest-growing source of billionaires in China.

Other well-known crypto personalities on the list include Okex’s founder Star Xu, with 10 billion yuan, who took 354th place, as well as Leon Li of Huobi, who was ranked 556th, with 7 billion yuan.

1Broker to Start Processing
Withdrawal Requests Today

Marshall Islands-registered contracts-for-difference broker 1pool Ltd., which operates the 1Broker brand, has announced that the company will revive some if its functions today. The team tweeted that they will start processing clients’ withdrawal requests at 12:00 (UTC).

Three U.S. agencies took action against the international, bitcoin-funded securities dealer last month, including seizing its website domain for a period. The U.S. authorities alleged at the time that an undercover special agent with the Federal Bureau of Investigation “successfully purchased several security-based swaps on 1Broker’s platform from the U.S. despite not meeting the discretionary investment thresholds required by the federal securities laws.”

‘A Bunch of Computer Code’

The Daily: Whales Join China’s Richest Ranks, Seniors Take a Swing at BitcoinIt can be very difficult to explain the invention of cryptocurrency in a sentence or two, given that it’s a topic involving cryptography, computer science and economics. This is particularly true if one is trying to reach an audience that might be frightened or put off by new technologies and unfamiliar terms.

The AARP (formerly the American Association of Retired Persons) published a glossary of “Wall Street buzzwords” this week to help senior citizens improve their financial literacy and cut away the confusion when talking with high-finance big shots. But the list took a somewhat funny swipe at Bitcoin, while echoing some particularly tired tropes.

The glossary defines Bitcoin as “a bunch of computer code that a bunch of criminals, idealists and speculators agree is worth ‘real’ money. Sadly, its real-money value swings widely, making it impractical except for criminals, idealists and speculators.”

The AARP also defines Blockchain as: “1. A different bunch of computer code containing an unalterable record of a series of transactions. The most famous is a digital ledger recording all bitcoin transfers. 2. A word often uttered by companies hoping to snare investors’ attention — and dollars.”

The rest of the terms were also written in a comical way. For example, one entry defines an ETF as “marry a mutual fund to a stock and this is their baby.”

What do you think about today’s news tidbits? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post The Daily: Whales Join China’s Richest Ranks, Seniors Take a Swing at Bitcoin appeared first on Bitcoin News.

Bitcoin News

‘Terrifying’ Shark That Ate Whales Was Eaten Off Australia’s Coast

August 10, 2018 |

Imagine strolling down the beach and discovering a razor-sharp tooth from a shark twice the size of a Great White. Well, meet Philip Mullaly: “It was an awesome creature, it would have been terrifying to come across,” the amateur fossil hunter and schoolteacher tells the New York Times of his…
Newser

Silicon Valley Whales Buy Diamonds in the Millions With Bitcoin

June 24, 2018 |

Silicon Valley Whales Buy Diamonds in the Millions with Bitcoin

2018 might not be the best year for crypto investors so far, but a lot of wealth is still in the hands of long-term holders. The latest example of this comes from Silicon Valley where some people are using bitcoin to buy millions worth of expensive timepieces, diamonds and other luxury items.

Also Read: This Week in Bitcoin: McAfee Backs Off, Crypto World Cup and the Mystery of 21e8

Crypto Surpasses Credit Cards

Silicon Valley Whales Buy Diamonds in the Millions with Bitcoin

Stephen Silver Fine Jewelry, a Silicon Valley-based ultra-high-end watches and jewelry boutique which implemented cryptocurrency payments back in 2014, reports that crypto transactions have grown to 20% of sales in the past year, helping the company close expensive sales. The company accepts payments in cryptocurrencies such as BTC, BCH and XMR, but only from authorized and approved Bitpay wallets. It started doing so as an easier and more secure alternative to wire transfers, providing much faster transfer times than the old legacy systems.

“Cryptocurrency has surpassed the volume of retail credit-card purchases in the company in a very short time period,” CEO Stephen Silver said. “We’ve created revenue that the company would not even enjoy without being able to accept cryptocurrency…. Large sums of money are where we are finding cryptocurrency to be a huge advantage.”

Indispensable Tool at Cradle of Innovation

Silicon Valley Whales Buy Diamonds in the Millions with BitcoinThe company has been monitoring the development of cryptocurrency for years, “Given that Stephen Silver Fine Jewelry is based in Silicon Valley, the cradle of innovation,” president Jared Silver told diamonds industry publication Rapaport News. “In 2014, we felt it had matured to the point that we could bring the technology into our store.” The company also pays its willing suppliers with cryptocurrency, however “this would be contingent on the supply chain adopting the technology,” he added.

At the bottom line, accepting cryptocurrencies is now an “indispensable” payment method according to the jeweler. The average crypto deal is close to seven figures, and the company can offer no limit on the amount it will accept per sale, since bitcoin transactions are irreversible unlike credit cards. The president also revealed that the company recently received a million-dollar cryptocurrency payment.

Is bitcoin a perfect match for buying expensive luxury items? Share your thoughts in the comments section below. 


Images courtesy of Shutterstock, Stephen Silver Fine Jewelry.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post Silicon Valley Whales Buy Diamonds in the Millions With Bitcoin appeared first on Bitcoin News.

Bitcoin News

Hunters Kill 333 Whales in ‘Research’ Expedition

May 31, 2018 |

Japan says it killed 333 minke whales, including 122 pregnant females, at its controversial annual hunt last summer. The hunt is, as always, under fire for its lack of apparent connection to legitimate scientific research and for killing whales rather than taking a non-lethal survey (Japan says its aim is…
Newser

PR: Brock Pierce and 25+ Crypto Whales in the Most Expected Coinsbank Event of the Year

April 28, 2018 |

Brock Pierce and 25+ Crypto Whales in the Most Expected Coinsbank Event of the Year

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Did you know that the flying cars from The Fifth Element and Blade Runner films have already become reality? Or that using a VR helmet allows you to sit in an office meeting with the world’s leading experts and investors without the traveling hassle? Probably not. Well, here’s a chance.

The Futurama Blockchain Innovators Summit held by Coinsbank in Dubai welcomes you to witness the fruits of the three most revolutionary technologies of the 21st century at once: blockchain, artificial intelligence, and virtual reality. We’ll showcase you futuristic solutions, from the new generations tools for managing your personal health data, to a billion dollar trading algorithm that represents the most advanced artificial general intelligence that can reason and theorize.

Headliners Galore

The summit is one of the most exclusive gatherings of the world’s sharpest crypto minds. “Very excited to be there and participate” – says Brock Pierce, Bitcoin Foundation, Blockchain Capital, who already shone on the previous Coinsbank Blockchain Cruise.

The Futurama Blockchain Innovators Summit will bring together the crème de la crème of the crypto industry:
– Miko Matsumura, Evercoin Exchange & BitBull Capital;
– Dinis Guarda, TOP 30 Most Influential People in the Blockchain;
– Nicholas Merten, DataDash YouTube (283k subs);
– Federico Pistono, Hyperloop;
– James Glasscock, DNA Capital (the world’s premiere crypto venture fund);
– Jonathan Teo, Binary Capital (over 300M under management);
– Stephen Stonberg, Hedge Fund and Investment Bank (Goldman Sachs, J.P. Morgan, Deutsche Bank);
and 20+ top leaders is calling you to join them in the desert. Come join us and change the world together and for the better!

“Futurama can help us create a truly global community that’s passionate about solving world’s biggest problems with the newest technologies and begin taking steps toward a better future by connecting those who want to build together across jurisdictions and countries” – says Henry Liu, Blockchain Venture Capitalist and ex-Facebook E-Commerce.

Breath-taking entertainment

Connect with the best. Fly with the loftiest. Float like nothing can stop you. We will show you what the best blockchain innovators can do today.

Surrounded by industry whales and futuristic technology within the setting of spellbinding Arabian luxury and the beauty of the Middle East, you will jump from the largest Futuristic Yacht in the Gulf to the ball at a bright Arab Desert Rose Party, a Burning Man-like experience.

“The event looks like it’ll be incredible”- said Nicholas Merten (DataDash Youtube), one of the most respectable blogger in crypto field. Can hardly wait?

Join the most exclusive blockchain event in the most technologically perfect place on the planet. Don’t miss the future. Join now – COINSBANK.COM/DUBAI

Contact Email Address
mail@futurama-dubai.com
Supporting Link
https://coinsbank.com/DUBAI

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: Brock Pierce and 25+ Crypto Whales in the Most Expected Coinsbank Event of the Year appeared first on Bitcoin News.

Bitcoin News

Germany Gets Its First Crypto Exchange for Whales

April 26, 2018 |

Germany Gets Its First Crypto Exchange for Whales

Germany’s VPE Wertpapierhandelsbank AG (VPE) has announced its institutional investor cryptocurrency trading services and claims them to be the first of their kind for the country. Armed with a Bundesanstalt für Finanzdienstleistungsaufsicht (Bafin) license, in expanding its brokerage offerings VPE purports to offer “best-in-class technology” to customers, “secure and regulated.”

Also read: Facebook to Be Sued for Defamation Related to Scammy Crypto Ads

VPE Launches Germany’s First Institutional Investor Cryptocurrency Trading Services

VPE Wertpapierhandelsbank AG spokesperson Katharina Strenski stressed, “Until now, institutional investors have faced high entry barriers to crypto trading. Our cryptocurrency trading services offer a much more convenient alternative.”

The world over, institutional investors, or whales, usually control vast sums of capital. They’ve been looking for ways to leverage cryptocurrency markets, but often run up against their own lobbying efforts in wielding government regulatory power to insulate themselves from competition. The consequences thus far include uneven access to a red hot and emerging asset class, arguably the future of finance in one form or another, cryptocurrency.

Germany Gets Its First Crypto Exchange for Whales

“Cryptocurrencies such as Bitcoin, Litecoin, Ethereum and others have become a promising asset class in recent years,” Ms. Strenski detailed. “To date, trading digital tokens has been restricted to crypto exchanges and online marketplaces. We are pleased to be the first German bank to offer our customers cryptocurrency trading services.”

VPE is a German centric exchange-based OTC trader. Financial corporations, private investors, and institutional investors (whales) get brokerage services, investment advice, and portfolio management. Under that umbrella, the bank offers clearing services, settlement of transactions in securities, contracts for difference, options, and futures.

Germany Is an Economic Powerhouse

Germany is an economic powerhouse, and so any entry its companies make into the crypto space will undoubtedly move the needle. It ranks as Europe’s economic engine and its largest economy, is a constant innovator, and is a giant exporter of goods. Routinely the country can boast Europe’s lowest employment rate, and its citizens average over $ 50K per capita.

Germany Gets Its First Crypto Exchange for Whales

All this could point to a boost for the digital asset sector as German institutional investors are among the most profitable companies in the world. For its part, as a “securities trading bank,” the bank’s press release continues, “VPE has an impressive trading track record and has access to the appropriate networks and technical requirements for processing individual transactions. VPE also meets all necessary KYC (Know your Customer) and AML (Anti-Money-Laundering) requirements.”

VPE also offers automated crypto trades, “developed in partnership with Solarisbank, the first banking platform with a full banking license, and with support from leading banking and legal crypto experts. VPE’s virtual currency trading account is held in escrow by Solarisbank. Customers will also receive access to an individual virtual currency wallet hosted by VPE. This will make trading fast and simple while ensuring the highest security standards,” the company insists.

Do you think German institutional investors will be a boost for crypto markets? Let us know in the comments section below.


Images courtesy of Shutterstock, VPE.


Need to calculate your bitcoin holdings? Check our tools section.

The post Germany Gets Its First Crypto Exchange for Whales appeared first on Bitcoin News.

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