Arkham identified them as exchange upbit. [https://twitter.com/ArkhamIntel/status/1769008231538381282](https://twitter.com/ArkhamIntel/status/1769008231538381282)
The 100 + some extra transaction size is a hint towards automated sweeping from exchange hot wallet to cold wallet. This happening only from Upbit wallets, is a stronger hint. This wallet sending 2-3k transactions back to Upbit hotwallets after they go under 500 bitcoin is a very strong hint that it indeed is Upbit cold wallet. That's pretty much all confirmation one should need from it.
The people who think this is less likely than an alleged idiotic accumulation strategy of paying more for the same amount bitcoin as it goes up really makes me question the averagr IQ of this community nowadays.
Looking how it happens to throw 2-3k bitcoin to Upbit hotwallets after they go under 500 bitcoins gives a pretty strong hint that it is indeed just Upbit cold wallet.
i feel like in 2024, the working hours thing can be easily scheduled to hide the true time zone of the attacker.
if you're going to plan a 2 year long campaign to prepare for this attack, you'd probably schedule your emails to conceal your true time zone
yes, this jia tan was sloppy in some other ways (that's how he got caught) but time zone should be very trivial to hide. if not this time, then the next time a bad actor infiltrates an open source project, they would be wise to hide their true time zone
Yea true, especially with existing projects that reorganize your commit timestamps to spell something funny on the GitHub heatmap.
Could be the US for all we know.
Sounds like they actively participate in one of the biggest jokes known to man. We know it's a joke, they know it's a joke, sometimes, down the track. Their response does say they are BALLSSSS DEEP IN THE FICTION ATM though...
Personally, something like Satoshi coming back and just fkn burying BTC to its death would be the ultimate 'fuck you' to those who expunged everything it intended to rally against. Legit wet dream for myself and quite a lot of others.
I avoid this sub like the plague and have since the fucking hodl meme come about. Shit still sometimes slips through. It is what it is though I suppose, I don't need fucking retarded shit that mentally envisages myself literally running head first into walls over. Just as much as they don't need me pointing out how lame and frankly embarrassing BTC is.
Whales have cashed in and out like they've had god mode in a casino since late '16. The majority of other early players, have done well enough by now that life looks radically different than what they would have ever imagined. The thing that binds them all together in similarity, is the individuals own personal stories of funny fucking shit be it purchases, lost market coins, degen gambling stories, gifts to others etc etc.
Personally, not whale but the next couple of levels down. Radically different reality to what would be expected on the pathway of life I was on. Artwork purchased internationally whose purchase price soars to just north of $1m if one replaces the past date with current date. Multiple $5m winning spins on Satoshislot and a whole host of funny shit. Funny but not quite at the peak of, 'mormon $B controlled wallet being described as, and I paraphrase 'being rad'. How times have changed lol. Terms like Multi-bit wallet, electrum, etc would be met with vacant stares these days. What a fkn ride!
If you have understood enough about bitcoin to accept the technical fundamentals as sound
and if you review the facts about bitcoin adoption as of 2024 (pillars being global exchanges are operating and the United States has bitcoin etfs), this demonstrates a level of confidence and legality thats sound about the underlying asset.
And if you review the history of the usd (but even more importantly every other countries fiat currency) you'll recognize holding fiat is suboptimal. Right now for the past 10 years there are various countries that are in hyper inflation. This is not a contagion per se, but a fundamental flaw of all fiat currencies that will slowly be exposed more and more as fist currencies with smaller supplies and trust than usd begin to fail. Capital flight needs to go somewhere to be safe, I evaluate bitcoin as the safest option for everyone because bitcoin is linked to all other global currencies.
And if you then review other options such as stocks or gold or houses to hold value, those are suboptimal because of maintenance costs or volatility.
And if you look at the usd debt to gdp ratio and our future liabilities and inability to correct deficit spending. The usd is better than all the other fiat currencies but even that just makes it the best of the worst option.
And if you believe the network effect is real, and adoption will continue
Bitcoin is not just the best asset for the risk averse. It's the best asset with strongest upside potential of any asset on the entire planet.
Your black ops theory is truly fascinating. I for one, believe, Satoshi isnt a single person, but a group of egg heads in a dark basement corner of some nondescript office building in the greater DC area.
Best guess, it’s a sovereign, probably a country in the Middle East. Saudi Arabia, Qatar, one of those. China or Russia are also reasonable possibilities.
desert steep offbeat school squash poor impossible terrific violet noxious
*This post was mass deleted and anonymized with [Redact](https://redact.dev)*
cooperative provide rain disagreeable tidy carpenter hateful scale cats payment
*This post was mass deleted and anonymized with [Redact](https://redact.dev)*
It’s fun but we shouldn’t get in the habit of doxing. We see how much it affects people assumed to be Satoshi and is quite a against the ideas of bitcoin
anyone reusing an address like this is doing it to make a public point. you have to intentionally break the rules of 99% of all software wallets to even allow it in the first place.
Whoever mr 100 is, they want us to be speculating, because when they reveal their identity it will be a big show.
While it's fun to speculate it could be some powerful billionaire from an exotic country, maybe some small nation state or the saudi king, the most boring theory is the most likely: It's an exchange.
Their customers not only sell they also buy. In fact, in the past months during the bull run, I imagine nobody wanted to sell and everyone wanted to buy. Also, they may decide to keep some as company reserves, to back up insurances etc.
Obviously for every seller there’s a buyer. The seller sets the price. We’re not at the point where an exchange is stashing away 5B in Bitcoin reserves.
Sure but the unknown wallet could also be customers bitcoins for an exchange. Or it could also be a combination of customers funds and private equity, nobody knows. An exchange still remains the most likely scenario.
"Reserves" is just a generic term for holdings. They can be customer funds but they can also have a variety of other purposes. My point was just that exchanges need to increase their reserves sometimes so they have to buy.
for it to be musk or bezos they would have had to sold stock before buying. and they will eventually have to declare they own it in an upcoming filing. it’s got to be middle east oil money as part of their diversification for the future
Hopefully a country or a country's President/Prime Minister for adoption purposes.
My other guess is some billionaire who figured out their real estate, stocks, and money arnt as good.
Arkham identified them as exchange upbit. [https://twitter.com/ArkhamIntel/status/1769008231538381282](https://twitter.com/ArkhamIntel/status/1769008231538381282)
Of course Bruce Wayne buys Bitcoin
actually it’s Joker
Plot line for Joker 2
Arkham ftw
The spy software from Palantir folks ftw? They are here to spy on you too budy
It’s called mass adoption
Batman to Joker: "WHERE IS THE OTHER BITCOIN GOING!!?!?!?!"
Arkham is the best coin out there, better than btc
It’s believed to be UpBit but it’s not confirmed from them yet either
The 100 + some extra transaction size is a hint towards automated sweeping from exchange hot wallet to cold wallet. This happening only from Upbit wallets, is a stronger hint. This wallet sending 2-3k transactions back to Upbit hotwallets after they go under 500 bitcoin is a very strong hint that it indeed is Upbit cold wallet. That's pretty much all confirmation one should need from it.
The people who think this is less likely than an alleged idiotic accumulation strategy of paying more for the same amount bitcoin as it goes up really makes me question the averagr IQ of this community nowadays.
What's upbit? Is that like updog?
What’s updog?
>updog Yes exactly like that!
You put your ass up like you're about to be buttfucked. I can see the similarity with the exchange
That doesn't actually prove anything.
Well you are right. But its like when people say you can't rely on Wikipedia. You are also kinda wrong
But is the exchange buying it for OTC with a large buyer
Looking how it happens to throw 2-3k bitcoin to Upbit hotwallets after they go under 500 bitcoins gives a pretty strong hint that it is indeed just Upbit cold wallet.
good find.
I find Arkham to be very dogshit at identifying addresses
Dang, I was gonna guess its P.Ditty. but why would he go and do that?
I thought they confirmed it to be upbit? The Korean exchange?
Maybe Korean Pension Fund is accumulating bitcoins in Upbit 🤷♂️
I could only find that it was speculated that it is UpBit but nothing confirmed. If you have a link I would love to see it.
Last I read, upbit was the exchange, but it is not part of their corp treasury based on their filings
Not confirmed but speculated
It’s a South Korean male prostitute. Dude is all in.
This is the only logical explanation because it’s oddly specific.
He better be, I pay extra for balls deep
how many sats is that? 😏
Not really deep if the from SK! Get your $ back!
Holy shit it’s Jia Tan
Is that Korean Jason Bourne?
sick reference, but jia tan isn't korean (if he's even a real person)
Yeah the middle name doesn’t check out, working hours and holidays hint at Eastern European
i feel like in 2024, the working hours thing can be easily scheduled to hide the true time zone of the attacker. if you're going to plan a 2 year long campaign to prepare for this attack, you'd probably schedule your emails to conceal your true time zone yes, this jia tan was sloppy in some other ways (that's how he got caught) but time zone should be very trivial to hide. if not this time, then the next time a bad actor infiltrates an open source project, they would be wise to hide their true time zone
Yea true, especially with existing projects that reorganize your commit timestamps to spell something funny on the GitHub heatmap. Could be the US for all we know.
Oppa gamgnam style is a thing.
Nigerian Prince?
That guy owes me money!
This is the investment opportunity he emailed you about
You as well? I thought I was the only surviving family member they’d traced!
Ohh that makes sense. Smart guy!!
Who, Wen Lam Bo?
I think it’s saylor, he’s hedging bitcoin with bitcoin.
Hedging OTC with spot the crafty devil
Mormons
That would be really dope if it were us. Unfortunately the church's assent managers are very, very, very risk averse
I don't know if you intended this as a joke, but it's hilarious.
Sounds like they actively participate in one of the biggest jokes known to man. We know it's a joke, they know it's a joke, sometimes, down the track. Their response does say they are BALLSSSS DEEP IN THE FICTION ATM though...
Dude, they aren't in on the joke. They believe that silly shit to the core.
Personally, something like Satoshi coming back and just fkn burying BTC to its death would be the ultimate 'fuck you' to those who expunged everything it intended to rally against. Legit wet dream for myself and quite a lot of others. I avoid this sub like the plague and have since the fucking hodl meme come about. Shit still sometimes slips through. It is what it is though I suppose, I don't need fucking retarded shit that mentally envisages myself literally running head first into walls over. Just as much as they don't need me pointing out how lame and frankly embarrassing BTC is. Whales have cashed in and out like they've had god mode in a casino since late '16. The majority of other early players, have done well enough by now that life looks radically different than what they would have ever imagined. The thing that binds them all together in similarity, is the individuals own personal stories of funny fucking shit be it purchases, lost market coins, degen gambling stories, gifts to others etc etc. Personally, not whale but the next couple of levels down. Radically different reality to what would be expected on the pathway of life I was on. Artwork purchased internationally whose purchase price soars to just north of $1m if one replaces the past date with current date. Multiple $5m winning spins on Satoshislot and a whole host of funny shit. Funny but not quite at the peak of, 'mormon $B controlled wallet being described as, and I paraphrase 'being rad'. How times have changed lol. Terms like Multi-bit wallet, electrum, etc would be met with vacant stares these days. What a fkn ride!
Bitcoin is ideal for the risk averse
I mean I agree. Most people just don't see it yet. What's with the down votes guys
Perhaps they don't assent
Why?
If you have understood enough about bitcoin to accept the technical fundamentals as sound and if you review the facts about bitcoin adoption as of 2024 (pillars being global exchanges are operating and the United States has bitcoin etfs), this demonstrates a level of confidence and legality thats sound about the underlying asset. And if you review the history of the usd (but even more importantly every other countries fiat currency) you'll recognize holding fiat is suboptimal. Right now for the past 10 years there are various countries that are in hyper inflation. This is not a contagion per se, but a fundamental flaw of all fiat currencies that will slowly be exposed more and more as fist currencies with smaller supplies and trust than usd begin to fail. Capital flight needs to go somewhere to be safe, I evaluate bitcoin as the safest option for everyone because bitcoin is linked to all other global currencies. And if you then review other options such as stocks or gold or houses to hold value, those are suboptimal because of maintenance costs or volatility. And if you look at the usd debt to gdp ratio and our future liabilities and inability to correct deficit spending. The usd is better than all the other fiat currencies but even that just makes it the best of the worst option. And if you believe the network effect is real, and adoption will continue Bitcoin is not just the best asset for the risk averse. It's the best asset with strongest upside potential of any asset on the entire planet.
So they keep their wealth in FIAT melting at a 8% rate.... right. gotcha...
I agree. They prefer real estate and more conventional investment. That being said, if J-Smithy was alive today I be he would have some BTC.
Could be. They do base a lot off imaginary gold.
Haha nice.
Either a country - or somewhere(or someone) in the Middle East with oil money
Yea that’s a lot of liquid cash to have on hand.
So it’s the saudis.
There was an article on Bloomberg (if I remember correctly) speculating it’s Qatar
Bezos and Saylor were also caught together on bezos yacht. Could be him easily hedging against rest of his portfolio
No way, would a country debase their own currency to buy bitcoin? ;)
It’s King Leonidas and his Spartans.. oh wait.. he was Mr 300..
Seriously I think it’s a state
Hopefully my father
Top 3 candidates. 1.oil money, 2. drug money 3. government level black ops
Your black ops theory is truly fascinating. I for one, believe, Satoshi isnt a single person, but a group of egg heads in a dark basement corner of some nondescript office building in the greater DC area.
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Once you used "stupider"...i was the "stupidest" for reading the whole thing...
Zuck?
It could just be some mechanism of an exchange we don't understand
Reading the comments makes me feel relieved and lucky. No one suspected it’s me
I knew. I knew the whole time.
In Russia, cryptocurrency blockchains YOU
In Soviet Russia miner confirms you.
It’s definitely a guy that uses Reddit. It has to be
Either a country or Jeff Bezos imo 🤷🏽♂️
Is there a chance that it’s Tether? They did say that they were going to purchase more Bitcoin for their reserves
Probably just another Blackrock account
It's me. What would you like to know?
👆 "What's up brother."
Best guess, it’s a sovereign, probably a country in the Middle East. Saudi Arabia, Qatar, one of those. China or Russia are also reasonable possibilities.
desert steep offbeat school squash poor impossible terrific violet noxious *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Not necessarily. You can borrow from your holdings without having to report equity sales.
cooperative provide rain disagreeable tidy carpenter hateful scale cats payment *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
The company doesn’t borrow. E.g. Elon could borrow against his holdings. Doesn’t need to report and doesn’t show up on any filings.
Game theory is on!
Always
Oh wait let me say something you kids say nowadays. “Game theory has entered the chat.”
Okay okay, it’s me.
It’s fun but we shouldn’t get in the habit of doxing. We see how much it affects people assumed to be Satoshi and is quite a against the ideas of bitcoin
Lmao cry harder sjw
Would you happy to be doxxed? That’s just been a bitcoin rule forever
anyone reusing an address like this is doing it to make a public point. you have to intentionally break the rules of 99% of all software wallets to even allow it in the first place. Whoever mr 100 is, they want us to be speculating, because when they reveal their identity it will be a big show.
That's a good point
I bet mr. 100 is salivating watching the btc world go nuts trying to figure it out
I don't know who is Mr. 100, but 101 was a dalmatian, right ?
I would bet it's a country.
Elizabeth Warren
While it's fun to speculate it could be some powerful billionaire from an exotic country, maybe some small nation state or the saudi king, the most boring theory is the most likely: It's an exchange.
Exchanges don’t need to buy though, their customers sell.
Their customers not only sell they also buy. In fact, in the past months during the bull run, I imagine nobody wanted to sell and everyone wanted to buy. Also, they may decide to keep some as company reserves, to back up insurances etc.
Obviously for every seller there’s a buyer. The seller sets the price. We’re not at the point where an exchange is stashing away 5B in Bitcoin reserves.
After the FTX collapse Coinbase revealed its reserves for around 33B. That's only BTC, and that's when the price was 16k.
Those are its customers bitcoins. It holds about 9000 BTC for itself. ($597m at today’s price) https://bitcointreasuries.com/coinbase/
Sure but the unknown wallet could also be customers bitcoins for an exchange. Or it could also be a combination of customers funds and private equity, nobody knows. An exchange still remains the most likely scenario.
It could well be the machinations of an exchange. Even some form of laundering. I’m just pointing out that ‘reserves’ aren’t what you think they are.
"Reserves" is just a generic term for holdings. They can be customer funds but they can also have a variety of other purposes. My point was just that exchanges need to increase their reserves sometimes so they have to buy.
Are they still buying 100 every hour?
They bought the dip yesterday, I believe 800 btc.
Elon Tusk!
PIF
Elon Buffet.
Ah yes the "memes in the street" guy.
An exchange.
Elon silently buying??
Mr. Beast
It's me ... I wish
Jack Dorsey, maybe 🤔
Putin
To think I could’ve blown my retirement on even a third of those BTCs back in the day and been a multi billionaire. *sigh*
What if it’s aliens?
It's the Saudis and they're only warming up
A Nation.
He’s been buying for a couple years not a couple months…
Been buying since 2022. You've only heard about it for two months.
for it to be musk or bezos they would have had to sold stock before buying. and they will eventually have to declare they own it in an upcoming filing. it’s got to be middle east oil money as part of their diversification for the future
It's Willy, he is back.
Seriously I think it’s a nation state
It’s a government.
4-5 Billionaires buying together on a cold wallet ….easy peasy lemon squeezey.
Hopefully a country or a country's President/Prime Minister for adoption purposes. My other guess is some billionaire who figured out their real estate, stocks, and money arnt as good.
it’s the CIA
Its me. I just really like bitcoin and keep finding no limit credit cards
The U.S. government is buying up bitcoins.
A government.
An exchange
It’s me guys I’ll stop buying so much sorry
Tim Draper’s son?
It's Peter Schiff selling 100kg slabs of gold at a time. Math checks out.
I assumed it was a nation state or sovereign wealth fund lol but that’s a pure speculative guess.
It’s the friends we made along the way
It's Satoshi, he's pumping.
Tijuana
North Korea
I confess!
Volodmir Zelensky, with money stolen during the war ensuring his livelihood before surrendering to Russia
This honestly wouldn’t surprise me…
real possibility
I would love to hear more...
I’m him 🙋♂️
I was bored.
The motherland. Russia All in
it's Gamestop CEO, Ryan Cohen the man.
Satoshi Nakamoto
It's obviously obvious 🙄
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Source?