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

[billyjoeallen]

You shouldn't print a QR code for your cold storage wallet either.

All I do is generate a random number, write it down, and hash it with a couple mental passwords to make a private key.

Do you really have coins that you haven't touched since 2011?

Yeah, but I check them on blockchain.info every once in a while to make sure they're still there.

Be careful with generating random numbers because some of the RND computer functions have been show to not be truly random. Dice or coins is safer, but it's kind of a pain.

I think if you have to do that, then you're not using Bitcoin to its fullest potential.  So what is your plan if they're not there? lol

I know they haven't moved. And I have more than one copy of the wallet.dat file, in case one gets corrupted, so it's only a matter of getting the software to work.

I have an idea that I think will work:
I'm sitting on a fairly good size pile of cash that is in my trading account. I can move two coins for every one I sell. I'll sell one and transfer the other to the exchange and use it to buy one coin on margin. That way I'm not dumping and my exposure to price changes is neutral. The pile of cash will keep me from getting margin called unless the price drops below $10 again and I'll get some scratch to spend while waiting for the next ATH if it ever happens.

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[billyjoeallen]

People struggling to access coins from 2011... bullish  

he's running an XT node, may as well just send them straight to Uncle Sam now and be done with all the other formalities and hassle ... lol.

I don't have a choice. There's no other BIP101 implementation and it's the only way I can vote for bigger blocks except for dumping my stash and you don't want me to do that, do you?

[Cconvert2G36]

People struggling to access coins from 2011... bullish  

he's running an XT node, may as well just send them straight to Uncle Sam now and be done with all the other formalities and hassle ... lol.

Why bother with the truth... amirite?

... the truth is Uncle Sam wants YOU running an XT node ... and why would that I be you wonder? because he wants to own your coinz, oh yes, you can use them and pretend like they are yours, but just like the Federal Reserve Debt Notes, in the end he wants to have the ultimate control over your money so that it can be called in at any time. Without OWNING your own money (as in the fullest legal sense, possession, control and knowledge) you are not a sovereign economic individual, just another subject to the corporations and other entities controlling the money of the Kings and would-be Kings.

Alright capn' hyperbole. Let's bump core to 2MB for a year to work on other solutions. Security through ubiquity, tptb are still gonna get a huge amount of our coins, BJA's scrambling to hand them over at 400.

[marcus_of_augustus]

You shouldn't print a QR code for your cold storage wallet either.

All I do is generate a random number, write it down, and hash it with a couple mental passwords to make a private key.

Do you really have coins that you haven't touched since 2011?

Yeah, but I check them on blockchain.info every once in a while to make sure they're still there.

Be careful with generating random numbers because some of the RND computer functions have been show to not be truly random. Dice or coins is safer, but it's kind of a pain.

I think if you have to do that, then you're not using Bitcoin to its fullest potential.  So what is your plan if they're not there? lol

I know they haven't moved. And I have more than one copy of the wallet.dat file, in case one gets corrupted, so it's only a matter of getting the software to work.

you could just send me the wallet.dat file and I'll sort it all out for you, PM me where you want them sent to ....   

[ChartBuddy]

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[PoolMinor]

Wow.  The way you've been talking, I thought you bought in the crash to $403 and sold at ~$458.

Thanks for helping to keep the price high until I can get my old coins out of cold storage. The wallet.dat file is incompatible with the new version so I am having a difficult time accessing them. Any ideas?

What os were you using for the wallet.dat file?

[ChartBuddy]

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[JayJuanGee]

Follow the weekly Bitstamp chart. If it closes green for 6 times in a row, we are on bubble territory (currently 4 consecutive weekly greens). If we instead end this week in red, there is nothing to worry.

IF we get 6 greens, this means we can go on for a long time still but watch for a blowoff top and trade accordingly.

The methodology worked perfect in the latest 500 spike, and you can easily check a very good match with all previous bubbles as well.

First TERA and now Risto- we're getting the band back together!

no better indicator of a bull market than old-timers becoming active again

Hold on there, Pardner.  Don't confuse cause and effect. All that means is the price is higher.  The bull market isn't really back until the ATH is topped.  That won't happen without a scaling fix because long before we get to four digits, we'll slam into the 1MB blocksize limit.  

When the blocks are totally full, the fees could go up 100X what they are now because there is only enough capacity for ~600,000 transactions per day.  That's it, no matter how high the fees go, there won't be enough capacity for each of us to have even one xation/day each. NO MATTER HOW HIGH THE FEES GO.

You don't wait until the snow starts falling before you start chopping firewood. It's coming.

We will see. I am not so pessimistic about the issue of scaling. Guess I simply have more faith in the ability of decentralized systems to provide adequate answers for problems posed by the environment. Might also mean I'm more naive.

For the time being I see price catching up with development of infrastructure and I'm cheering from the sidelines.

And to be honest I feel like bull markets in Bitcoin started well before breaching the old ATH - that's just when they started to go crazy parabolic and made a new ATH within 2 months.

Did you misspeak, ED?  

how could any of us be "cheering from the sidelines" if we have been involved in this Bitcointalk forum thread for more than a few months?  

Don't tell me that jorge took over your account for you to have devolved into an "academic interest in bitcoin?"    

Don't worry, if you ever need another explanation why the government & state suck I'm here for you It's just that I don't do much besides hodling and derping around on the forums.

Well I did get a lot of people into Bitcoin so there's that. But sidelines it is. First row. With popcorn. Actually screw the popcorn give me beer.

Well, we've already had a little back and forth in respect to some of the government-related discussions, so surely such a topic could come up again... if we were to choose to engage.

But regarding your hodl strategy.   Your registration date for this forum account is March 2013.    That's a long time to hodl?  Would you also accumulate a bit more BTC, or does your personal financial or cashflow situation make accumulation of more BTC less than practicable.

For example, with me, through my two years of accumulating bitcoin, I have been buying with whatever spare fiat that I have and even allocating a budget and a plan for how much BTC I am authorizing myself to buy for any given planned period.

I only recently started trading (since about October, when the price crossed over $250 for about the 5th time)... and trading has certainly opened up some new perspectives for me.... even though I started plotting out some of my trading plans in August and September  (and initially allocating about less 1% of my total BTC holdings for trading, and then as the BTC price continued to rise, my allocation percentage of BTC trading continued to rise too (but probably still quite less than 10% of my total BTC holdings). 

The actual application of the trading  plans (rather than the theory) have caused me to have to tweak my practices quite a bit and even figure out some strategies for considering making my practice comfortable for me and my situation.

Anyhow, I am just thinking that many long term hodlers are also accumulating additional BTC at certain price points, at minimum.

[JayJuanGee]

I'm leveraged long and this is the worst day of my life. If 430 doesn't hold, why, I just don't know what I'll do.

Maybe you will stop posting in this thread?   

[wutizurkwest]

The wallet.dat file is incompatible with the new version so I am having a difficult time accessing them. Any ideas?

According to this StackExchange page you can convert wallet.dat to a newer format using the Berkeley DB utils:

https://bitcoin.stackexchange.com/questions/37247/wallet-dat-0-4-0-format-retrieving-bitcoin-possible-security-concerns
 

[Fatman3001]

Yeeez!!!!

You're a flock of friggin seagulls!!!

And we're back to where we were when I went to sleep.

@BJA Don't trust Marcus, he is trying to trick you. Trust ME!!!

Everybody trusts a fat guy!

[BlindMayorBitcorn]

https://www.reddit.com/r/Bitcoin/comments/3xnchr/rand_corporation_is_researching_how_to_destroy/

Sinister.

Level I and II

    DDOS
    51%, not specifically by accruing mining power but instead compromising mining pools via hacking or otherwise. "In such a manner, an attacker with relatively little initial resources could mount a 51 percent attack on Bit- coin."
    Compromising 3rd parties, either degrading service or stealing keys

Level III and IV

    Zero day attacks, vague references to this consensus code implicating hard forks
    Zero day attacks to take control of pool operators and 51%. "Even in the decentralized case, advanced opponents can successfully exploit specific targets with high probability and canpublically target high-net-worth individuals to reduce confidence in the currency (or can randomly target average citizens to sow distrust)."
    "Tier IV opponents would likely have the capability to construct and use zero-day exploits against critical VC services such as exchanges and wallets as well as cell-phone applications used to conduct everyday transactions. Indeed, they may look to use fake permissions and certificates to install applications that subvert (or spy on) user VC applications. They would then either disrupt those applications or publicize vulnerabilities to degrade confidence in a VC."

Level V and VI

    Supply chain attacks. "Weakening of hardware, backdoors in hardware and software. They might target cell phones or other hardware, including computers used as servers for critical VC services or special-purpose hardware used for mining, and corrupt them before delivery."
    Broken cryptography.
    Human attacks. "to bribe or otherwise co-opt such per- sonnel, either within a VC’s organization or at other organizations that provide critical services to a VC."

[ChartBuddy]

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[r0ach]

[JayJuanGee]

People struggling to access coins from 2011... bullish  

he's running an XT node, may as well just send them straight to Uncle Sam now and be done with all the other formalities and hassle ... lol.

I don't have a choice. There's no other BIP101 implementation and it's the only way I can vote for bigger blocks except for dumping my stash and you don't want me to do that, do you?

Yeah.  Dump everything, and we'll see you in 2024.   

[TERA]

arize dragun

[flagpara]

Ahhhhhhhhhhhhhhh

Down a bit. Much better. Isn't it much more fun to have a crazy ass market that can go down 30bbucks in 6 hours without any fucking reason? 

That's why btc can't be used in a global and daily way. But that's also why it's so cool and fun to invest in.

[TERA]

Does anyone get how the bfx order book works? It's like there will be 200 coins accross a dozen different orders near a certain price and all the sudden 15 seconds later they all disappear at the same time even though nothing executed, leaving you with no liquidity.

[ChartBuddy]

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[BlindMayorBitcorn]

Why does this ridiculous panic continue? Wth is wrong with these idiots!