Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[White sugar]

Achtung Bitmenschen!

Bitfinex is modifying account privileges for New York Residents, effective August 10th, 2015.
Account & Service Changes

All New York Residents must withdraw all cryptocurrency balances currently held on Bitfinex by 4:00 pm EDT on August 15, 2015. ...
As New York Residents may no longer keep cryptocurrency balances, they will no longer have access to the following features on Bitfinex.com.

Now BTC is banned in NY???

Seriously


Or only in certain exchanges ?

[1714707843]

1714707843

[1714707843]

1714707843

[gentlemand]

Now BTC is banned in NY???

Seriously

Or only in certain exchanges ?

No. It's the bitlicence. It's too costly for lots of crypto businesses like exchanges to apply for it so instead they're just barring New York residents from using their services.

[ChartBuddy]

Coin
Explanation

[ChartBuddy]

Coin
Explanation

[Chef Ramsay]

Now BTC is banned in NY???

Seriously

Or only in certain exchanges ?

No. It's the bitlicence. It's too costly for lots of crypto businesses like exchanges to apply for it so instead they're just barring New York residents from using their services.

I'd advise those that live in NY or Cali to move away from these oppressive states and New Hampshire is a decent place to live for now or the time being. Then you can make your stance about leaving the country. Good thing thing that the US gov doesn't calll the shots everywhere.

[Mervyn_Pumpkinhead]

No. It's the bitlicence. It's too costly for lots of crypto businesses like exchanges to apply for it so instead they're just barring New York residents from using their services.

No. It's the bitlicence. It's too costly for lots of crypto businesses like exchanges to apply for it so instead they're just barring New York residents from using their services.

Did someone activate the 'keep calm and hold' bots?

[ChartBuddy]

Coin
Explanation

[Wary]

No. It's the bitlicence. It's too costly for lots of crypto businesses like exchanges to apply for it so instead they're just barring New York residents from using their services.

No. It's the bitlicence. It's too costly for lots of crypto businesses like exchanges to apply for it so instead they're just barring New York residents from using their services.

Tell me that telepathy doesn't exist

[ChartBuddy]

Coin
Explanation

[AlexGR]

I'm seeing some small-scale activity in Greece, in the use of BTC to bypass capital controls. It's primarily done through credit / prepaid cards that are fed with BTC. Apparently the BTCs are being bought from a greek BTC exchange that accepts payments through local banks.

Cash or bank account money => Local BTC exchange => buying BTC => using a visa service that is being fed by BTCs => ability to buy something from abroad

[JorgeStolfi]

Brainwallet.com shut down permanently due to DefCon presentation showing high risk

Someone lost 50BTC (~$14k) by using a brainwallet with an empty string

[everaja]

Brainwallet.com shut down permanently due to DefCon presentation showing high risk

Someone lost 50BTC (~$14k) by using a brainwallet with an empty string

What will happen to the coins that were deposited by Multiple users.
will Brainwallet open after some Time or it has turned into Scam?
I see i am able to log in..
should i remove my coins from there?

EDIT: I am unable to log-in Now.
What do you mean by Empty String?

[LMGTFY]

Brainwallet.com shut down permanently due to DefCon presentation showing high risk

Someone lost 50BTC (~$14k) by using a brainwallet with an empty string

What will happen to the coins that were deposited by Multiple users.
will Brainwallet open after some Time or it has turned into Scam?
I see i am able to log in..
should i remove my coins from there?
What do you mean by Empty String?

The reddit thread is quite a good introduction to the issue. It seems it's not an issue with Brainwallet as such, but rather with people - instead of using a decent passphrase, some people were using trivial phrases. "Empty string" is a passphrase with no length - the simplest, easiest-to-guess passphrase possible. (Another example of a bad passphrase that people have used is "cat" - not an empty string, but a very short (3 character) string. And broken in seconds, apparently.

tl;dr - nothing new under the Sun, and this was a social problem not a technical problem.

[Elwar]

Brainwallet.com shut down permanently due to DefCon presentation showing high risk

Someone lost 50BTC (~$14k) by using a brainwallet with an empty string

What will happen to the coins that were deposited by Multiple users.
will Brainwallet open after some Time or it has turned into Scam?
I see i am able to log in..
should i remove my coins from there?

EDIT: I am unable to log-in Now.
What do you mean by Empty String?

Yes, it was announced before DefCon that they would be hacking brain wallets and advised everyone to get their coins out of their brainwallets.

Even if you think you're super smart in your pass phrase, it can be hacked easier than a private key.

[dreamspark]

Brainwallet.com shut down permanently due to DefCon presentation showing high risk

Someone lost 50BTC (~$14k) by using a brainwallet with an empty string

Something about a fool and his money 

I applaud the move, I think it aids the transition from nerdy tech geeks into the main stream. Brain wallets should not be an option to secure your wealth moving forward.

[Searing]

Brainwallet.com shut down permanently due to DefCon presentation showing high risk

Someone lost 50BTC (~$14k) by using a brainwallet with an empty string

What will happen to the coins that were deposited by Multiple users.
will Brainwallet open after some Time or it has turned into Scam?
I see i am able to log in..
should i remove my coins from there?

EDIT: I am unable to log-in Now.
What do you mean by Empty String?

Yes, it was announced before DefCon that they would be hacking brain wallets and advised everyone to get their coins out of their brainwallets.

Even if you think you're super smart in your pass phrase, it can be hacked easier than a private key.

paper wallets only for me for btc and ltc in a bank's safety deposit box...ONLY copies (in water proof bag in case bank sprinkler system kicks in for some reason) if the bank
gets hit by a metorite and/or it is loss well it will be proof the asic gods hate me and I guess I can move on.....

(jinxed self)

[cyclotronmajesty]

OK... So sideways for the rest of the weekend then we move up or down?

I'm betting on down... then by next weekend the bulls may return...

Why? Because there is nothing in way of big news coming to rally the price. Greece crisis is mute, interest rates may go up, it's the end of summer, bitlicense was a failure, and we tried to hit 300 three times now and only made it past 1 time. Analysts have been predicting lower prices, as well as users. Litecoin on the other hand has a halving coming the 25th this month... which is gonna be interesting to see in a bear market.  

[readysalted89]

Brainwallet.com shut down permanently due to DefCon presentation showing high risk

Someone lost 50BTC (~$14k) by using a brainwallet with an empty string

What will happen to the coins that were deposited by Multiple users.
will Brainwallet open after some Time or it has turned into Scam?
I see i am able to log in..
should i remove my coins from there?

EDIT: I am unable to log-in Now.
What do you mean by Empty String?

Yes, it was announced before DefCon that they would be hacking brain wallets and advised everyone to get their coins out of their brainwallets.

Even if you think you're super smart in your pass phrase, it can be hacked easier than a private key.

Nxt wallets often use pass phrases and there have been a significant number of coins stolen by automated bots that crack weak pass phrases.

I didn't expect something similar to happen to Bitcoin wallets. Now a way to crack brain wallets with weak pass phrases has been devised there will be an army of bots attempting to crack them. People on summer holidays might only find out about this when they get back and find their Bitcoins were stolen before they had a chance to move them.

[hd060053]

we are going down because of the unsecure brain wallet 

[Erdogan]

Volume? Volatility? Anything?

Is this picture real?