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

[bitserve]

Some of the stuff that Franky1 is talking about is complex / can’t be fucked working through it.  But it’s pretty clear that a significant proportion of what he is saying is bullshit.  So safe to ignore the balance of what he is saying. I think best just to put him on ignore.  

From the comments of gmaxwell, one would say he is like the r0ach of the tech/development area of the forum

...
It's really a shame that people are forced to waste their time correcting you simply because you are so persistent and voluminous in your inaccuracies that you manage to confuse many people even though your posts are not very convincing.
...
You've misunderstood what we've accomplished here.
...
It exists only in the imaginary protocol that you spend your days attacking and confusing people with.
...

[HairyMaclairy]

He is bringing up a lot of Bcash talking points so it’s probbably a Bcash dev sock puppet

[bitserve]

He is bringing up a lot of Bcash talking points so it’s probbably a Bcash dev sock puppet

I stopped arguing with him when he insisted that Bitcoin Core client should temporarily degrade into an SPV until the initial sync is finished.

https://bitcointalk.org/index.php?topic=5080565.msg48490886#msg48490886

Then he came up with a GTA example  

The guy seems to be knowledgeable or at least to have spent some time studying things... but his conclusions (at least some)  seem wrong to me.

[gembitz]

OMG! Seems like all the gold R0ach is hodling will soon be worthless:

Breakthrough: Chinese Scientists Turn Copper Into 'Gold'

https://www.zerohedge.com/news/2018-12-23/breakthrough-chinese-scientists-turn-copper-gold

We already covered this topic.  It doesn't have any effect on silver, and I'm in silver, not gold:

1)  The main application this copper alloy or whatever you want to call it seems to be useful for is oxidation resistance

2)  Gold's main use in manufacturing seems to revolve around oxidation resistance.

3)  Silver's main use is NOT oxidation resistance because silver reacts with sulfur in the atmosphere while gold doesn't.

So, assuming creating this stuff is actually economically viable or the process is even real, it seems like it's only real effect would be copper taking some of gold's industrial use market.  Copper is already used instead of silver in most electricity transmission applications due to price, so there's really nothing that's even possible to change in that regard.  All the speciality cases that require the increased conductivity of silver over copper remain completely unchanged.

i'm into foil and... bitcoin    weee

[Hueristic]

Trod craefully for thou art crunchy and taste good with ketchup.

Holy shit thats fumy! I wonder if that thing is infected with that brain parasite that makes rodents suicide?

[bitserve]

Trod craefully for thou art crunchy and taste good with ketchup.

Holy shit thats fumy! I wonder if that thing is infected with that brain parasite that makes rodents suicide?

Rodents can be very aggressive when cornered. The cat has probably spent some time "playing" with him over and over, he is completely fed up and probably already thinks the only possible way to escape alive is to attack back and scare the predator. It seems perfectly normal survival behaviour to me.

[jojo69]

toxoplazmosis

[Hueristic]

OMG! Seems like all the gold R0ach is hodling will soon be worthless:

Breakthrough: Chinese Scientists Turn Copper Into 'Gold'

https://www.zerohedge.com/news/2018-12-23/breakthrough-chinese-scientists-turn-copper-gold

It probably will not effect gold as a store of value but it sure will not help it increase in value as it can be substituted in industieal applications but does not even remotely appear as gold as the clickbait headline states.

toxoplazmosis

+1 WO for you sir!

[bitserve]

toxoplazmosis

That would also be a possibility, yeah. But seeing how the cat was carrying the mice on its mouth at the beginning of the video I would say that is enough reason to try to attack back as soon as he is released and before the cat gets him again (something that probably have already happened for several times before this video clip).

Rodents are extremely intelligent, powerful and aggressive (when in life danger) creatures.

[Hueristic]

toxoplazmosis

That would also be a possibility, yeah. But seeing how the cat was carrying the mice on its mouth at the beginning of the video I would say that is enough reason to try to attack back as soon as he is released and before the cat gets him again (something that probably have already happened for several times before this video clip).

Thats alot of speculation but thats what this thread is for right?

[bitserve]

toxoplazmosis

That would also be a possibility, yeah. But seeing how the cat was carrying the mice on its mouth at the beginning of the video I would say that is enough reason to try to attack back as soon as he is released and before the cat gets him again (something that probably have already happened for several times before this video clip).

Thats alot of speculation but thats what this thread is for right?

Yeah, Bitcoin can be like a fucking rat sometimes

Now that I think about it... the honey badger is very rat alike........

[Hueristic]

https://www.reddit.com/r/Bitcoin/comments/aa3qp3/judge_over_multibillion_dollar_bitcoin_lawsuit/
csw suit to go ahead

Friggin awesome!

Judge over multi-billion dollar Bitcoin lawsuit tells Craig Wright he must stand trial because dismissing the case would be an "injustice

toxoplazmosis

That would also be a possibility, yeah. But seeing how the cat was carrying the mice on its mouth at the beginning of the video I would say that is enough reason to try to attack back as soon as he is released and before the cat gets him again (something that probably have already happened for several times before this video clip).

Thats alot of speculation but thats what this thread is for right?

Yeah, Bitcoin can be like a fucking rat sometimes

Now that I think about it... the honey badger is very rat alike........

It's certainly being a real ratten right now!

Some of the stuff that Franky1 is talking about is complex / can’t be fucked working through it.  But it’s pretty clear that a significant proportion of what he is saying is bullshit.  So safe to ignore the balance of what he is saying. I think best just to put him on ignore. 

Link to the thread?

[jojo69]

If Klein put them into an encrypted wallet, it's likely no one will spend those coins until quantum cryptography begins freeing them up.

Coins mined in the first two years of bitcoin's existence are not safe from quantum attack.

I have long said that Satoshi's bitcoin are a quantum canary. Once we see them begin moving, we will now that someone in the world has a functioning advanced quantum computer.

It's just too big a prize not to be the first thing that you do with a QC. I would even expect governments employees to try this if they had access.

If, on the other hand, we see all Satoshi coins move at once, that means someone has the private key.

Because Satoshi kept each 50 BTC distribution from his mining in a separate wallet. And even QC takes a lot of time to crack even those early wallets. Months or longer I would expect.

The other possibility is that someone with a QC could crack wallets and then not move the bitcoin, waiting to move it all later. But this is unlikely because they must fear that someone else is attempting the same thing and could beat them to the punch if they wait.

So, if we see say 5 or 10 Satoshi wallets move all at once, then that should also be considered a QC event as well. 10 wallets, randomly chosen from the Satoshi blocks, would not be a huge risk to wait to move.

The point in waiting is that the minute a Satoshi block moves, the market will react very negatively, because we can expect those coins to be freed up and reach the markets, bringing the price down.

So, whoever first has a QC and begins targeting bitcoin, they will move those coins and sell them quickly.

Then the sh!t will hit the fan.

I wonder how the devs will react then. Should we move to lock down those early coins so they cannot be stolen? Historically the devs have opted against such things.

hmmmmm

[bitserve]

Link to the thread?

https://bitcointalk.org/index.php?topic=5080565.0

It's VB1001's first thread and it is having some interesting success.

[HairyMaclairy]

Anything requiring physical access isn't scary.

[HairyMaclairy]

If Klein put them into an encrypted wallet, it's likely no one will spend those coins until quantum cryptography begins freeing them up.

Coins mined in the first two years of bitcoin's existence are not safe from quantum attack.

I have long said that Satoshi's bitcoin are a quantum canary. Once we see them begin moving, we will now that someone in the world has a functioning advanced quantum computer.

It's just too big a prize not to be the first thing that you do with a QC. I would even expect governments employees to try this if they had access.

If, on the other hand, we see all Satoshi coins move at once, that means someone has the private key.

Because Satoshi kept each 50 BTC distribution from his mining in a separate wallet. And even QC takes a lot of time to crack even those early wallets. Months or longer I would expect.

The other possibility is that someone with a QC could crack wallets and then not move the bitcoin, waiting to move it all later. But this is unlikely because they must fear that someone else is attempting the same thing and could beat them to the punch if they wait.

So, if we see say 5 or 10 Satoshi wallets move all at once, then that should also be considered a QC event as well. 10 wallets, randomly chosen from the Satoshi blocks, would not be a huge risk to wait to move.

The point in waiting is that the minute a Satoshi block moves, the market will react very negatively, because we can expect those coins to be freed up and reach the markets, bringing the price down.

So, whoever first has a QC and begins targeting bitcoin, they will move those coins and sell them quickly.

Then the sh!t will hit the fan.

I wonder how the devs will react then. Should we move to lock down those early coins so they cannot be stolen? Historically the devs have opted against such things.

hmmmmm

Meh.  Its about time we had some QC FUD.  I have been missing it. 

[Hueristic]

They lost the main architect on their mining chips if I remember it right, they took forever to get this last miner out and I would say the enemies are at the gate as efficiency comes, and those wanting to mine drops.

Fuck Bitmain and their wanting to be king of crypto they wanting their antcoin or whatever it was called and then gave up to join btrash.

Fuck em.

He's their competition now.




Quantum resistance is a complicated question on so many levels we probably are not even foreseeing all the angles it can effect. Are there Devs specifically tasked to contingency plan for this?

Anything requiring physical access isn't scary.

True that.

Link to the thread?

https://bitcointalk.org/index.php?topic=5080565.0

It's VB1001's first thread and it is having some interesting success.

thanks +1 sM

[bitserve]

I don't see it scary. I have always assumed that anyone having physical access to my hardware wallets and some resources to spend to reverse engineer the content of the memory chip would end having access to my private keys. The cost is probably higher than my Bitcoin stash.... but not yours. Anyway, don't fucking let anyone else to have physical access to your hardware wallets?

The other vulnerabilities seem to reside on the possibility of you trusting a hardware wallet which firmware has been tampered with. Again, doesn't scare me. I know my firmwarez, yo.

That being said, for VERY HIGH amounts, you could just use an offline PC *AND* a hardware wallet that is never connected to an online PC. Sign the tx, Carry it to an online computer via USB and broadcast it to the network with ANY software wallet (ie Electrum). Can't get much safer and paranoid than that.

For 100+ BTC stashes I would surely be doing that.

[Hueristic]

i used to be a somebody

Ha, I just put that on 2 days ago!

all I need is this theymos

Brooke my rule you made me Lol. +1sM

[Arriemoller]

Getting too old for electronic diffs, too old for lightning browser plugins, too old for millions wasted on disposable toys that go jolly fast and obliterate muh environment, too old for one weird company's blockchain shoved down at me from space.
There's a fucking war on.
These fuckers should all rally round designing and producing the only things that matter: chips free from govt control, miners that go jolly fast and obliterate only the tip of muh environment, software that is not as bloated, shonky and illegible as JJG's 'Memoirs and Musings: My Bookywook (volumes 1 thru 34)(part I)' and then and only after that, vehicles that are useful for the coming world with no roads and no electricity, a wealth of fallout, guns, bandits and finally, vast open spaces free at last from the the poor, the stupid, the hungry.

Well, at least the poor, the stupid and the hungry seems to be disappearing, it's of course the same people.
They are hungry because they are poor and they are poor because they are stupid. Stupid people won't get well paid jobs, if they get any at all.
I read somewhere that the increasing average IQ in the world, the Flynn effect, is not because we are all getting a little smarter for every generation, nor is it because we are getting more of the really smart people. It's actually because we are getting fewer and fewer dumb people in the world for every generation.
To put it bluntly, the losers aren't finding any mates, and thus do not procreate, thereby not spreading their stupid genes to a new generation.