Bitcoin Whale Moves 230 Million Dollars for 57 cents

A Bitcoin whale moved 40,000 BTC (229,000,000,000 dollars) from one Bitcoin address to another on May 1 for an insignificant network fee. A Bitcoin whale has moved over 40,000 BTC from one address to another.

On Twitter, some theories rummage around, who the whale could be. Some speculate it would be Bitcointalk user “Loaded”, he is a well-known poster in the forum. Loaded is as well known for his posts in the forum as for his stock of 40,000 BTC. Also on Bitcointalk itself, it is speculated that it was Loaded. However, the user neither confirmed nor denied that he made the transaction. It should be noted that the Bitcoin stock from that address is often sent from one address to the next for no apparent reason, as the transaction history on Blockchain.info shows.

Also, note the first three characters of the address. “bc1” means that the address uses the SegWit protocol (Segregated Witness), which currently accounts for 40 % of all Bitcoin transactions (according to transactionfee.info). Segwit is a protocol introduced on 23 August to make Bitcoin transactions faster and cheaper.

According to the data, the fee for the $292 million transaction was only 57 cents. Bitcoin fees often do not correspond to the amount the user should actually pay. According to researchers, this error is due to the fact that consumers’ wallets seem to calculate the required fee incorrectly.

Although the 40,000 Bitcoin transaction is not a small amount, it fades compared to the transaction that took place on January 10 of this year. A total of 130,004 BTC (742,972,860 dollars) were sent to 385cR5DM96n1HvBDMzLHPYcw89fZAXULJP. To date, this is still the second largest Bitcoin transaction of all time, the largest being held at 500,000 BTC on November 16, 2011.

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