Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 23933. (Read 26720830 times)

Next big move should come in a few days (4-6 max)
Wait for volume to confirm a breakout/breakdown.

If big volume confirms a break in either direction, it should be a major move.

So are you lambtrolls latest alt?

Yeah, trying to break the weekly low, but sure is taking its sweet time.
Like watching paint dry.

Btc-e

Last Price: 311.02 USDLow: 308.3049 USDHigh: 317 USD
Volume: 3935 BTC / 1230958 USDServer Time: 30.12.14 00:28

How is it going to be? This is really strange.

no, to most people he looks like "ignored".

Is this what chartbuddy's chart looks like to everyone else, or is it just me?

Explanation

I think this lateral market is going to be some weeks else

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.

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?

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.

First mover advantage probably helps give bitcoin some value. The technology and the PR are probably also major factors.

Thanks.  Could you give me a link to 2012 price data?  I'm having a hard time getting anything prior to late 2013

A great PR always does vary prices. In a positive as well as a negative way. But the technology is the major factor imo.

I wouldn't count $155 as "rich".

Explanation

It is bitcoin.de, a german exchange.

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.

What are you looking for? I get the distinct impression that it is you who is being disingenuous.