Is this what chartbuddy's chart looks like to everyone else, or is it just me?
no, to most people he looks like "ignored".
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 23882. (Read 26711406 times)
December 29, 2014, 04:11:45 PM
Is this what chartbuddy's chart looks like to everyone else, or is it just me?
no, to most people he looks like "ignored".
December 29, 2014, 04:10:58 PM
Is this what chartbuddy's chart looks like to everyone else, or is it just me?
December 29, 2014, 04:00:45 PM
December 29, 2014, 03:56:19 PM
I think this lateral market is going to be some weeks else
December 29, 2014, 03:39:13 PM
Well, I'm stuck here: http://bitcoin.stackexchange.com/questions/22/is-it-possible-to-brute-force-bitcoin-address-creation-in-order-to-steal-money
The math posted there is ok for me but I'm not familiar with crypto so those parts are over my head for now, Anyway, as one can see, there is no consensus among experts. Interesting enough, it seems that one post there clearly reads "It is possible to brute force some Bitcoin addresses, because some people generate their private keys in an insecure manner." and further the author even gives some practical cases!
The math posted there is ok for me but I'm not familiar with crypto so those parts are over my head for now, Anyway, as one can see, there is no consensus among experts. Interesting enough, it seems that one post there clearly reads "It is possible to brute force some Bitcoin addresses, because some people generate their private keys in an insecure manner." and further the author even gives some practical cases!
Well, yes, if the private key was not generated at random, it is possible to crack it.
This is in fact what happened earller this month to customers of Blockchain.info (BCI) web wallet. That service gives you javascript code that is supposed to generate random private keys, which remain in your computer so they are supposedly safe. One day their Chief Blunder Officer tried to improve the random number generator, but instead broke it quite thoroughly. As a result, some clients who generated private keys with the broken javascript got some keys that were easy to guess (so much so that the same key was given to different clients, it seems). Also, any transactions that were signed with that buggy code contained enough information to allow guessing of the private keys of the input addresses.
Fortunately, a "white hat" hacker was monitoring the blockchain for the latter weakness, promptly warned BCI, and the bad javascript was pulled from their site a few hours later. Even so, about a thousand addresses with about a thousand BTC total had their contents swept by hackers who broke the private keys -- fortunately, most of them by that "white hacker", who returned them to BCI. Those keys were so weak that they could be cracked by an ordinary PC. There were similar incidents in the past but this may have been the worst one so far.
However, I suppose that old addresses do not have this kind of weakness, since there were fewer wallet programs available and those were written by competent programmers. But who knows. Perhaps Satoshi was still using some lousy random number generator when he generated his private keys...
This is a also method that a hacker could use to steal bitcoins. He gets people to use malicious wallet software, that generates intentionally weak keys, and/or transaction signatures that reveal the private keys. Unlike the BCI accident, these weaknesses can be masked so that they cannot be detected by looking at the keys and signatures. The hacker then needs only monitor the blockchain until he sees enough BTC in those compromised address. This attack would work even if the victim generates the keys and/or signs the transactions in a computer that is not connected to the internet.
December 29, 2014, 03:33:23 PM
It's more like you are into special wooden nickels made of a specific tree, cut down and uniquely identifiable by it's dna. It's the first kind of wooden nickels that are uniquely identifiable in that way. The problem is there are other people who have done that with other trees, and their wooden nickels have the same properties besides being from a different tree.
While they have the same intrinsic properties, their extrinsic properties are dramatically different. It is not the intrinsic properties of BTC which give it fundamental value, but extrinsic ones.
Things with different properties behave differently.
Are you suggesting that it's not the technology but the userbase/great PR which gives bitcoin value?
I was lead to believe the value behind bitcoin was disruptive technology
A great PR always does vary prices. In a positive as well as a negative way. But the technology is the major factor imo.
First mover advantage probably helps give bitcoin some value. The technology and the PR are probably also major factors.
So what, exactly, are bitcoin's "extrinsic qualities" that can't be replicated? First mover advantage, and ... that's all I got. The infrastructure can be easily usurped by any SHA256 clone coin. As I understand it, a big chunk of hashpower was just recently switched back to bitcoin after mining some alt?
December 29, 2014, 03:32:11 PM
What if I told you that the real monetary inflation for BTC is actually even higher than most people think?
That's because a lot of BTCs from the early days are totally lost (so nobody owns the private keys anymore, it's like they never existed).
2 million BTCs (minimum) are very probably lost:
http://onbitcoin.com/2013/12/07/bitcoin-spoilage-2-million-bitcoin-likely-lost-old-hard-drives/
The supply of BTC in circulation is actually smaller than believed, that means that the inflation is actually higher.
That's because a lot of BTCs from the early days are totally lost (so nobody owns the private keys anymore, it's like they never existed).
2 million BTCs (minimum) are very probably lost:
http://onbitcoin.com/2013/12/07/bitcoin-spoilage-2-million-bitcoin-likely-lost-old-hard-drives/
The supply of BTC in circulation is actually smaller than believed, that means that the inflation is actually higher.
A reasonable point. But if you are using BTC in circulation, you almost have to cut out a lot of Bitcoins that are being kept off the market by holders also. Depending on what you are trying to measure I guess. It's just one of many reasons why market cap is actually pretty meaningless as well.
It's also feasible to argue that there is no inflation at all, that since there will only ever be 21 million BTC, it's not inflating, they are just becoming accessible. Again, it is important to define what you are trying to measure.
December 29, 2014, 03:16:53 PM
It's more like you are into special wooden nickels made of a specific tree, cut down and uniquely identifiable by it's dna. It's the first kind of wooden nickels that are uniquely identifiable in that way. The problem is there are other people who have done that with other trees, and their wooden nickels have the same properties besides being from a different tree.
While they have the same intrinsic properties, their extrinsic properties are dramatically different. It is not the intrinsic properties of BTC which give it fundamental value, but extrinsic ones.
Things with different properties behave differently.
Are you suggesting that it's not the technology but the userbase/great PR which gives bitcoin value?
I was lead to believe the value behind bitcoin was disruptive technology
A great PR always does vary prices. In a positive as well as a negative way. But the technology is the major factor imo.
First mover advantage probably helps give bitcoin some value. The technology and the PR are probably also major factors.
December 29, 2014, 03:13:57 PM
It is bitcoin.de, a german exchange.
Thanks. Could you give me a link to 2012 price data? I'm having a hard time getting anything prior to late 2013
December 29, 2014, 03:11:58 PM
It's more like you are into special wooden nickels made of a specific tree, cut down and uniquely identifiable by it's dna. It's the first kind of wooden nickels that are uniquely identifiable in that way. The problem is there are other people who have done that with other trees, and their wooden nickels have the same properties besides being from a different tree.
While they have the same intrinsic properties, their extrinsic properties are dramatically different. It is not the intrinsic properties of BTC which give it fundamental value, but extrinsic ones.
Things with different properties behave differently.
Are you suggesting that it's not the technology but the userbase/great PR which gives bitcoin value?
I was lead to believe the value behind bitcoin was disruptive technology
A great PR always does vary prices. In a positive as well as a negative way. But the technology is the major factor imo.
December 29, 2014, 03:09:45 PM
It's official, bitcoin is a ponzi-scheme, the price is just gonna go down if more fools don't get in.
I wouldn't count $155 as "rich".
December 29, 2014, 03:00:21 PM
December 29, 2014, 02:51:12 PM
BTW, what am I looking at? What exchange is that? Not recognising it.
As always, all the best
As always, all the best
What are you looking for? I get the distinct impression that it is you who is being disingenuous.
I'm looking for an answer to my question, that being "what exchange is that"?
As I've suggested to JimboToranto in a previous post, your "distinct impression" may be caused by your overinvestment in bitcoin. I'm not a psychiatrist tho, so you might want a professional opinion.
It is bitcoin.de, a german exchange.
December 29, 2014, 02:38:43 PM
BTW, what am I looking at? What exchange is that? Not recognising it.
As always, all the best
As always, all the best
What are you looking for? I get the distinct impression that it is you who is being disingenuous.
I'm looking for an answer to my question, that being "what exchange is that"?
As I've suggested to JimboToranto in a previous post, your "distinct impression" may be caused by your overinvestment in bitcoin. I'm not a psychiatrist tho, so you might want a professional opinion.
December 29, 2014, 02:32:49 PM
BTW, what am I looking at? What exchange is that? Not recognising it.
As always, all the best
As always, all the best
What are you looking for? I get the distinct impression that it is you who is being disingenuous.
December 29, 2014, 02:29:57 PM
It's more like you are into special wooden nickels made of a specific tree, cut down and uniquely identifiable by it's dna. It's the first kind of wooden nickels that are uniquely identifiable in that way. The problem is there are other people who have done that with other trees, and their wooden nickels have the same properties besides being from a different tree.
While they have the same intrinsic properties, their extrinsic properties are dramatically different. It is not the intrinsic properties of BTC which give it fundamental value, but extrinsic ones.
Things with different properties behave differently.
Are you suggesting that it's not the technology but the userbase/great PR which gives bitcoin value?
I was lead to believe the value behind bitcoin was disruptive technology
December 29, 2014, 02:23:48 PM
It's more like you are into special wooden nickels made of a specific tree, cut down and uniquely identifiable by it's dna. It's the first kind of wooden nickels that are uniquely identifiable in that way. The problem is there are other people who have done that with other trees, and their wooden nickels have the same properties besides being from a different tree.
While they have the same intrinsic properties, their extrinsic properties are dramatically different. It is not the intrinsic properties of BTC which give it fundamental value, but extrinsic ones.
Things with different properties behave differently.
December 29, 2014, 02:11:32 PM
I think bitcoin which is up +2251.12% in two years can deal with 15% inflation.
What? Didn't you know that Bitcoin only started a little over a year ago at over $1000 and has been falling ever since on its way to zero?
It's a South Seas Ponzi beanie baby tulip pyramid scam. All the famous financial experts say so, so it must be.
Or are you some sort of commie libertarian koolade-drinking conspiracy cultist?
hahahahahahaIf you cannot fight the trolls, join them.
December 29, 2014, 02:10:58 PM
What I find curious is how those who joined the forum in June (and likely lost half of their investment since then) like to quote pretty numbers from 2 years ago.
Is it too much for you to grasp the idea that he may have been involved in Bitcoin and even bought bitcoins years before joining this forum?
Then again, beartard trolls aren't the sharpest spoons in the knife drawer.
Sigh.
No no no, that's not the problem I'm having. Mr. dakota neat has claimed to have made +2297.74% in two years, and I do understand that people on the internet don't lie.
Wishing to learn how to achieve such stellar results (who wouldn't amirite?), I asked my new friend to teach me. He's fallen rather silent, which is not the usual friendly sharing and exchange of ideas I've come to expect from bitcointalk.
On an unrelated note, and if it's not too forward of me to ask, what is your current bitcoin position? You seem to be rather testy and irritable, I understand such etiquette lapses are often the result of what's known in the financial circles as "being overinvested."
Is that, perhaps, the cause?
All the best
There's no magic. Buy and Hold.
You seemingly missed my point. Have you stopped buying coins in 2012, or have you bought any since?
If it is the former then you're rather, what's the polite term I'm looking for? ...disingenuous when advising others to buy.
If it is the latter, then your profit is far below your +2297.74%.
Hopefully this clarifies things a bit.
BTW, what am I looking at? What exchange is that? Not recognising it.
As always, all the best
December 29, 2014, 02:08:53 PM
I'd give a 90% chance that we'll be breaking below $300 by the end of this week. Each day that goes by as the market is flooded by new blocks, and we lack any major news, is simply creating more downward pressure.
Quoted....
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