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2861  Economy / Speculation / Re: [Poll] How long until $1000 per 1 Bitcoin? on: December 24, 2013, 07:32:58 PM
so many ppl wrong

I was right but I also just voted Cheesy
2862  Economy / Speculation / Re: xmas = volatility on: December 24, 2013, 07:30:58 PM
The reason for volatility is simple.
Somebody probably asked Santa for cheap coins. Santa will probably try to make coins cheap before buying them driving the market downwards. Once that person is given the cheap coins they must go up because otherwise the coins weren't cheap Smiley

So what happens if many people have asked for coins?

The price will plummet and go sky-high again ofcourse cos Santa has infinite fiat moneys Cheesy
2863  Economy / Speculation / Re: xmas = volatility on: December 24, 2013, 06:24:58 PM
The reason for volatility is simple.
Somebody probably asked Santa for cheap coins. Santa will probably try to make coins cheap before buying them driving the market downwards. Once that person is given the cheap coins they must go up because otherwise the coins weren't cheap Smiley
2864  Economy / Speculation / Re: Bitcoin consantly losing value? on: December 24, 2013, 05:14:52 PM
LOL if bitcoin is losing value then leave this forum and leave your BTC at the door.
Go trade normal stocks for a while to gain some perspective.

 Roll Eyes people that expect 100% profit per month Roll Eyes
2865  Alternate cryptocurrencies / Altcoin Discussion / Re: Free dogecoins! on: December 24, 2013, 08:22:08 AM
DSfQAM9DG3XFCvDCjbtnc9v1imwkoWcgux

Scooby Dooby Doo!!!
2866  Economy / Speculation / Re: China is out, is Crypto sunk? on: December 23, 2013, 09:25:26 PM
I've said it before, and i'll say it again:

The trading market (most of you guys in this subforum basically, no offense) are the reason for Bitcoins volatility.

Bitcoin itself hasn't changed, begun to fail, been compromised, or anything that would justify wild fluctuations in value.

Stupid humans and day traders are the cause of that.

Whats happening out in the world right now is adoption and exponential growth.

If the trading market had any relevance to Bitcoin itself, it would reflect whats actually going on.

Instead it reflects whatever any random journalist turd on Business Insider decides to write about it.

You tell 'em STFU! and wait for your BTC to go 7 digits Cheesy
2867  Economy / Speculation / Re: More retailers accepting Bitcoin could cause the price to drop...... on: December 23, 2013, 09:23:12 PM
If a lot of retailers adopt bitcoin then I believe bitcoin value will stabilize.
Consumers will start relating to BTC as in 0.0001 BTC will be normal for a bread and 1 BTC will be normal for buying a small car ... etc.

So adoption is good if you want BTC as a currency but it might stop BTC going TO DA MOON!! as a HODL product due to the stabilization.

But then again if more people use BTC then BTC must be spread thin as in everyone wants a piece of the pie. The pie cannot grow thus the pieces will become smaller.

Somewhere there will be an equilibrium..... Smiley
2868  Economy / Speculation / Re: lost BTC's on: December 23, 2013, 09:10:33 PM
Can someone give me a short explanation as to why it is so hard to crack the private key? Won't the motivations to crack private keys be so high right now that someone is going to figure out how to do it? Won't we have enough computing power to eventually be able to do it?

Also, how is it possible that from the private key you can generate the public key and that fact in no way makes it easier to do the opposite???



There is no easy way and I'm no specialist on the suibject.


First wait for a spend transaction on the account you want to hack, only then will the public key be known.
The bitcoin address is a sha-256 hash of the public key. Since a hash doesn't have all the data you are unable to find a public key easily. So you must wait for an outgoing transaction.
(This is the reason offline wallets are mega safe ;-) )

Once you have the public key you can use Eliptic curve calculations with some bitcoin specifics to work back the public key towards the factorization problem.
Once you have that big ass number (c) you simply need to break it in to two numbers (a and b) like the formula c=a*b so grab your quantum-computer and do the math.
Using a and b you can then calculate a private key that fits the lock. Then turn it into the private key form for BTC.


http://en.wikipedia.org/wiki/Elliptic_Curve_DSA
Also there is some dude on the internet who hacked weak private keys. He explains the process and in the weak-key case a random number generator failed (same number every time) making the private key easily hackable.
If you understand his math then you can go hack private keys if you can solve the factorization problem (if you can you are the most powerful person on the planet).
2869  Economy / Speculation / Re: Poll: Fate of bitcoins in China on: December 23, 2013, 01:58:10 PM
Where is the answer "Bitcoin causes a civil revolt in China and the country is thrown into anarchy whilst fighting for a full democracy"  Wink
2870  Economy / Speculation / Re: Christmas trading/wall watching? on: December 23, 2013, 01:55:55 PM
Finding a wallet with 1BTC under your tree. A christmas to never forget Cheesy
2871  Economy / Speculation / Re: Buying bitcoin from Facebook friends on: December 23, 2013, 01:54:07 PM
Yes I will buy a bitcoin from facebook and not get scammed in the process Roll Eyes
2872  Economy / Speculation / Re: lost BTC's on: December 23, 2013, 12:50:30 PM
there is no way. lost btc is exactly the same as non-lost ones, besides that noone knows the PK for them. also, some trash workers could revive that HD and suddenly that BTCs become not lost. so no, you can not calculate that with any reliability.

What you can do is look at all the addresses that haven't been touched for X number of months/years and then make a judgement.

If an address has not been touched for 3-4 years say you could put it in the "probably lost" pile, but they may come active at a later date.

Or the offline wallet pile Smiley
2873  Economy / Speculation / Re: Will digital currencies be bigger or collapse if the music stops? on: December 23, 2013, 08:36:26 AM
What's your definition of "music" ?

Digital currencies cannot be created other than mining. So it will get bigger unless it becomes unusable.
2874  Economy / Speculation / Re: Poll: Price Predictions 31.12.2014 on: December 22, 2013, 12:12:13 PM
I thought 31-12-2013  LOLz.... in end 2014 we should atleast hit the $2400 Smiley

+1  I fucked up my vote too  Cheesy

Shall we start again Wink

I corrected using my 6 clone accounts Wink
2875  Economy / Speculation / Re: Fiatleak and CNY--What's going on? on: December 22, 2013, 12:07:39 PM
How do you account for the fact that after BtcChina and other exchanges cut off payment processors, there was effectively nothing coming from CNY on fiatleak.  Now, there is a heavy flow.  Where are they buying then? Gox?

Offline wallets flowing in?
2876  Economy / Speculation / Re: Bitcoin value on: December 22, 2013, 12:05:43 PM
If there's no bad news it will go up. BTC is always increasing in value. You may see it go down but the average price is still rising.
Yeah, although it's rewally hard to notice with the current instability.

Zoom out of your 1m candles view, you will see. In every trade on earth, when you look at the minor detail you don't see the grand picture. Without the grand picture, you have no idea what is going on. So staring at minor detail is not healthy for your wallet.

+1

Still have 25% profit in 1 week by hodling what I bought last week ... try doing that in the stockmarket.
2877  Economy / Speculation / Re: We are at "THE" ATH on: December 22, 2013, 12:03:29 PM
I think AMWAY fell due to the amount of typo's in your OP.
2878  Economy / Speculation / Re: When do you think BTC will skyrocket again? on: December 22, 2013, 11:34:04 AM
Why would people here in China get rid of their Bitcoins if they feel that it might be more difficult to obtain them in the future?  I certainly would not sell and would be hoarding them instead!

If you can't spend bitcoin due to the big Chinese firewall and your too poor to go abroad what are bitcoins worth?
You would hoard them but you are referring to a free country. China is not a free country.
2879  Economy / Speculation / Re: Silk Rd 2 Raid on: December 22, 2013, 12:05:22 AM
Prohibition didn't work but it gave those in power ideas. How they could make a fortune and win votes at the same time. Plus it is a great tool to keep the little man down, and invade a few nations on the pretext of this drugs war ie Panama 2000. Control is what it is all about.

Yep the best drug is power and they're going for their daily hit.
2880  Alternate cryptocurrencies / Altcoin Discussion / Re: [ANN] FREE WORLDCOIN WDC | GIVE AWAY THREAD 640 Coins on: December 21, 2013, 11:59:15 PM
WYCJKM3jYd7J68eHoUamhFzLzsVBTsc9ra

Inb4 640th coin
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