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

[encycrypto]

So Binance hacked itself and will reimburse the victims with Binance tokens?

Right out of the ol' Bitfinex playbook 

Not really:

https://twitter.com/cz_binance/status/1126005587353821184

[VB1001]

Bitstamp to Expand US Operations by Hiring Former Coinbase Exec Hunter Merghart

European crypto exchange Bitstamp has appointed a former Coinbase executive as head of United States operations, Finance Magnates reports on May 8.

Bitstamp, an entrant of the top 50 crypto trading platforms by daily trading volume, has hired Hunter Merghart in a move to expand its operations in the U.S.,
following the recent acquisition of a virtual currency license from New York state’s financial regulator.

Merghart will be based in New York and will focus on working with Bitstamps’ new and existing clients — particularly targeting institutional clients — the report notes.

https://cointelegraph.com/news/bitstamp-to-expand-us-operations-by-hiring-former-coinbase-exec-hunter-merghart

[AlexGR]

Stupid article, can't they write why the coins can't be spent?

edit: I found the reason somewhere else.

....
So when you're sending Bitcoin to a Bech32 address, you need to make sure you're sending it from a type of address type that knows how to pack the information correctly. Otherwise it arrives in the Bech32 address without the information needed to be transferred again.
....

I read the above and still don't get the problem. What type of address was needed before sending to Bech32 and why was it unspendable? And how can it be unspendable if it is sent back to the company's wallet and thus "proves" it's an inside job?

[Hueristic]

^
Thats the thing about kenzawak....  you would never guess he’s actualy a french guy

Does he shower?

[nutildah]

^
Thats the thing about kenzawak....  you would never guess he’s actualy a french guy

Does he shower?

French Baths...

That's cologne right?

[vroom]

Stupid article, can't they write why the coins can't be spent?

edit: I found the reason somewhere else.

....
So when you're sending Bitcoin to a Bech32 address, you need to make sure you're sending it from a type of address type that knows how to pack the information correctly. Otherwise it arrives in the Bech32 address without the information needed to be transferred again.
....

I read the above and still don't get the problem. What type of address was needed before sending to Bech32 and why was it unspendable? And how can it be unspendable if it is sent back to the company's wallet and thus "proves" it's an inside job?

My explanation, but I'm not an expert: I think bech32 needs a segwit source address to work. The transaction went from a legacy address to the bech32 address and a second destination, a legacy address. The coins from the second destination were sent back.

[bitcoinPsycho]

[VB1001]

The theme of Binance smells very bad.....

If with all the garbage that goes out we keep going up:

BTCullish !!!

[jojo69]

Wait...so how do any of the REST of us avoid such a "mistake"??...need more details!!

The hacker sent funds to an address from which they can't be spent???

https://cryptopotato.com/did-binance-really-get-hacked-these-conspiracies-might-prove-otherwise/

Sounds like CZ has some serious haters. Of course the rollback idea is dumb. It was dumb when Ethereum did it, it's dumb now. Too bad he had to actually say that. He is/was one of my favorite crypto personalities.

Stupid article, can't they write why the coins can't be spent?

edit: I found the reason somewhere else.

Every Bitcoin transaction carries information about the wallets it's going to and from, the reasons you know it's a valid transaction and so on. Without the right information, the Bitcoin can't be spent.

One of the improvements of SegWit is that it rearranges this information and packs it more efficiently. Bech32 addresses are designed to read that information in the new and more efficient way that SegWit arranges it. But if it's not packed correctly, they can't read it.

So when you're sending Bitcoin to a Bech32 address, you need to make sure you're sending it from a type of address type that knows how to pack the information correctly. Otherwise it arrives in the Bech32 address without the information needed to be transferred again.

That's what happened here. About 7,000 Bitcoin worth $40 million are now stuck.

It's like the Binance Bitcoin went on vacation but forgot their passport, and now they're stuck in an airport for eternity because border control won't let them out without a passport.

https://www.finder.com.au/binance-may-have-accidentally-burnt-40-million-in-segwit-migration

these binance guys are trying to conceal a big mistake with a hack that never happened.

[VB1001]

NEWS: We’ve rolled out a fleet of  Bitcoin-selling rickshaws in Glasgow!
It’s a fun way to show the public just how easy Bitcoin is to buy and spend with.

https://twitter.com/BitcoinsFast/status/1125770197112107008

We have partnered with a local business to roll-out a fleet of Bitcoin-enabled pedal rickshaws on the streets of Glasgow. The rickshaws have been introduced to the city as an initial trial to demonstrate the ease and simplicity of buying and spending with Bitcoin to the general public.

Those wanting to ride the Fastbitcoins.com branded rickshaws can hail them once spotted, in the same way as regular cabs or rickshaws operating in the city. Passengers can choose to pay their fares in cash, but will also have an option to quickly and safely purchase Bitcoin vouchers from the back seat via a nifty point-of-sale terminal operated by the rider. Those who already possess the digital currency will be able to pay their fare using their own bitcoin on the Lightning Network.

https://blog.fastbitcoins.com/peddling-bitcoin-weve-just-rolled-out-bitcoin-selling-rickshaws-the-streets-of-glasgow/

Strange combination, a taxi with pedals and pay with BTC, nice.

[Syke]

Not really:

https://twitter.com/cz_binance/status/1126005587353821184

Holy shit, they actually got a bunch of people together to seriously consider performing a 51% attack on Bitcoin.

https://twitter.com/cz_binance/status/1125996194734399488

[Ibian]

Wait...so how do any of the REST of us avoid such a "mistake"??...need more details!!

The hacker sent funds to an address from which they can't be spent???

https://cryptopotato.com/did-binance-really-get-hacked-these-conspiracies-might-prove-otherwise/

Sounds like CZ has some serious haters. Of course the rollback idea is dumb. It was dumb when Ethereum did it, it's dumb now. Too bad he had to actually say that. He is/was one of my favorite crypto personalities.

Stupid article, can't they write why the coins can't be spent?

edit: I found the reason somewhere else.

Every Bitcoin transaction carries information about the wallets it's going to and from, the reasons you know it's a valid transaction and so on. Without the right information, the Bitcoin can't be spent.

One of the improvements of SegWit is that it rearranges this information and packs it more efficiently. Bech32 addresses are designed to read that information in the new and more efficient way that SegWit arranges it. But if it's not packed correctly, they can't read it.

So when you're sending Bitcoin to a Bech32 address, you need to make sure you're sending it from a type of address type that knows how to pack the information correctly. Otherwise it arrives in the Bech32 address without the information needed to be transferred again.

That's what happened here. About 7,000 Bitcoin worth $40 million are now stuck.

It's like the Binance Bitcoin went on vacation but forgot their passport, and now they're stuck in an airport for eternity because border control won't let them out without a passport.

https://www.finder.com.au/binance-may-have-accidentally-burnt-40-million-in-segwit-migration

these binance guys are trying to conceal a big mistake with a hack that never happened.

Better a mistake than a true blue hack, it means their security is more solid than thought.

A mistake that didn't use to be possible. It's almost like segwit is causing some new and exciting problems.

[Lambie Slayer]

“And I think the people who are professional traders that go into trading cryptocurrencies, it’s just disgusting. It’s like somebody else is trading turds and you decide, ‘I can’t be left out.'”

bitcoin investors "celebrate the life and work of Judas Iscariot"

Charlie ButtMunger




I predict either or both Charlie ButtMunger and Warren Buttfet will be dead before the 100k Party. The stress of King Bitcoin ascending to glory will be too much for these old tards and help send them to an early grave. Good riddance you pieces of shit.

[gentlemand]

Better a mistake than a true blue hack, it means their security is more solid than thought.

Makes little sense for them to lie about it being a hack rather than a mistake. And it looks like coins have already moved from those supposedly unspendable bc1 addresses.

Original hack - https://www.blockchain.com/btc/tx/e8b406091959700dbffcff30a60b190133721e5c39e89bb5fe23c5a554ab05ea

The first bc1 address on there has been emptied - https://chainz.cryptoid.info/btc/address.dws?bc1qp6k6tux6g3gr3sxw94g9tx4l0cjtu2pt65r6xp.htm

[Torque]

So Binance hacked itself and will reimburse the victims with Binance tokens?

Right out of the ol' Bitfinex playbook  

Not really:

https://twitter.com/cz_binance/status/1126005587353821184

Of course they would have enough BTC to cover, if they faked their own hack.

Not saying they did tho. Who really knows.

But here's the thing everyone should remember:

There will be no new Bull Run without plenty of FUD and fake bullshit to accompany it every step of the way. Not gonna happen.

[Torque]

“And I think the people who are professional traders that go into trading cryptocurrencies, it’s just disgusting. It’s like somebody else is trading turds and you decide, ‘I can’t be left out.'”

bitcoin investors "celebrate the life and work of Judas Iscariot"

Charlie ButtMunger




I predict either or both Charlie ButtMunger and Warren Buttfet will be dead before the 100k Party. The stress of King Bitcoin ascending to glory will be too much for these old tards and help send them to an early grave. Good riddance you pieces of shit.

Funny that ol' Charlie never applies the same "ethics" to trading or investing any of those S&P 500 or Fortune 500 companies that have sky high valuations but at this point are COMPLETELY INSOLVENT FUCKING ZOMBIE COMPANIES.

GE, anyone? Bueller?

[BTCMILLIONAIRE]

@kenzawak
Some of those places are on my to-do list. If you visit any of them, a few words would be appreciated.

And thanks for the merit!  

I'm already back home. I didn't have much time to check those out.
But if I do one day, I'll let you know.  
Only thing I can tell you is about the first address you posted, well about the area where it's located. Ryogoku is where Sumos train. You can go watch one of their sessions in the morning (gotta reserve in advance though).

Nice tip about sumo training! I've never seen it live, but I did meet a wrestler once in the metro. His clean baby smell (talcum powder) could be felt from a distance through the crowd. I managed a photo with the baby hulk.

About restaurants - My first tip would have been about this tofu-only place with an impressive menu, outstanding quality and reasonable prices, but I can't recall its name or location. It was 10 years ago, who knows if it's even still there. I'd like to go there again though.

You're vegetarian too ? Vegan even ?

No, but I'm open, and I have a vegan day once in a while just for the heck of it. Serious vegans go against our own biology IMO.

I know it's quite hard to be a veg in Japan, they will slip animal products everywhere without a warning - you probably know their basic dashi broth, used in almost everything they cook, is made with small fish about 50% of the time.

Sorry I had to reply here. It's so unconvenient to discuss travel destinations and other pleasantries with all these people posting OTs about this bit dollar thing, or whatever it's called... why don't they go somewhere else?

I'm not much of a sports guy (I used to play some as a kid but I don't care much for watching others play). But I got invited to two of the sumo final tournaments and they were surprisingly intense. Even though the fights are extremely short they were never really boring. It's pretty interesting how they can go back and forth so much between who seems to be winning within such a short period.

Also, vegetarian food can be pretty damn good. I'll never give up on meat, but there are some fantastic dishes. African food in particular is really nice.

[BTCMILLIONAIRE]

Any news on the China ban?

Who. Fucking. Cares.


Edit: Are those Binance coins really stuck for good? Or will they eventually be retrievable? In the former case I don't even care if it's a false flag (which I doubt). The more coins are out of circulation the more valuable the rest become.

Edit2: Of course they're not stuck. Would've been pretty weird for people capable of pulling this off fucking up so bad. Although it would've been hilarious.

[John Abraham]

What you need is DCA'ing. I am watching this shit since 2013 and that's my final decision on the subject. Doing all-in and all-outs worked for many people and did not for many. DCA however, works for everybody since 2009. We'll have another ATH and it'll work for the $20k buyers too.

Once again, I have quoted this post just to thank you once again. I have changed my mind after having enough knowledge about DCA which seems an interesting way to accumulate BTC, no matter what the amount is for me.
I have decided to purchase a little BTC per week (Not prefer to share), I am running some e-commerce business here in my local and I have decided to put a little part of my profit into BTC each week till 2020. It took me 3 days to decide but now I am totally optimized to invest in BTC each week.

Cheers
Meet you bros in the moon.


Sad for the Binance news. These stuff create propaganda among newbie. I wish no one has lost a satoshi.

[nutildah]

Better a mistake than a true blue hack, it means their security is more solid than thought.

Makes little sense for them to lie about it being a hack rather than a mistake. And it looks like coins have already moved from those supposedly unspendable bc1 addresses.

Original hack - https://www.blockchain.com/btc/tx/e8b406091959700dbffcff30a60b190133721e5c39e89bb5fe23c5a554ab05ea

The first bc1 address on there has been emptied - https://chainz.cryptoid.info/btc/address.dws?bc1qp6k6tux6g3gr3sxw94g9tx4l0cjtu2pt65r6xp.htm

Well so much for that theory. I guess it was put out by a website in a rush to generate content, as happens all too often.

The fallout from this will be more significant than your everyday hacking because it was Binance, but I guess it will take a few days for the dust to settle.