Bitcoin whale moves $468 million crypto-fortune for less than $400 | Crypto Craft

  • Bitcoin whale moves $468 million crypto-fortune for less than $400

    From thenextweb.com

    A cryptocurrency whale has moved a groin-thumping Bitcoin $BTC▲0.01% fortune worth $468.5 million — and they paid just a few hundred bucks for the pleasure. Earlier today, this unknown Bitcoin holder shifted 49,755.64 BTC ($468.5 million) in a single transaction, which was included in block #587601. The Bitcoin network charged just $374.98 to facilitate the transfer, demanded no identity documentation or permission, and asked minimal trust. Four hundred dollars is certainly higher than some of the fees recently paid by other whales, but still significantly lower than costs associated with traditional finance. ... (full story)

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TudorIoan
Jul 30, 2019 7:41am
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Quoting Goat
This is a beautiful thing. Buuut let's not forget he likely had a team of 10 people to manage the transfer internally, including technical and security experts to make 100% sure nothing goes wrong. Moving that kind of money around is damn serious business when you have no expert counter party (ie bank) to manage the transaction.
Quoting TMR
My pulse always goes through the roof when I move more than one BTC. Sending a small fraction of a bitcoin as a test transaction is always best practices.

Great business! OMG, but who's real money they earn after all???
Teach me, I'm so innocent?
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Goat
Jul 30, 2019 1:11am
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This is a beautiful thing.

Buuut let's not forget he likely had a team of 10 people to manage the transfer internally, including technical and security experts to make 100% sure nothing goes wrong. Moving that kind of money around is damn serious business when you have no expert counter party (ie bank) to manage the transaction.
Reply
TMR
Jul 30, 2019 7:39am
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My pulse always goes through the roof when I move more than one BTC. Sending a small fraction of a bitcoin as a test transaction is always best practices.
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