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

[rdbase]

I think the recent drop of $400 was due to the news of binance the biggest exchange being hacked and customer kyc information is in the cloud now.
https://bitcointalk.org/index.php?topic=5173312

That's from an old hack back in August last year. CZ confirmed this on Twitter earlier today
https://twitter.com/cz_binance/status/1158984801442910209

The news releasing today of what they known about for over a year is a little concerning. Wouldnt you agree?  
But still those hackers are in possession of all those customers information including government issued ids including passports which are good for 10 years!
Price of bitcoin is showing the sediment of those who are selling on binance so to get their funds off of there and close their accounts.

Not any good for binance man since they are the biggest exchange for those who consider it their goto cryptocurrency exchange being new to the hodl gang.

[_javi_]

/tinfoil hat on

It seems somebody is buying large chunks of corn, then sending corn abroad and selling on the other side.

/tinfoil hat off

..and they say BTC has no use 

[realr0ach]

Gold and silver right now are in an even more undervalued position than when gold went from $400 to $1900 and silver $7 to $50.  US debt levels are also going full hockeystick and so will the price of metals with it.  This really might be the "metals run you don't sell" because debt levels going full-blown hockeystick is usually the end and welcome to Zimbabwe time.  



People like Martin Armstrong claim the govt is going to go ballistic trying to shakedown citizens for huge taxes and steal all their money in nefarious ways.  That's complete nonsense.  The common citizen has zero money to steal.  You can't get blood from a stone.  Their only option is for the govt to raid billionaires at places like Apple, Google, and Amazon because they accumulated all the money, but it will never happen because they're connected and have their money offshore anyway.  So print to Zimbabwe it is (or go back to metals as money because this is the end).

[btcbeliever]

It was interesting to learn than Schiff's dad, Irwin, died in prison 3 years ago as part of his protest/boycott on federal income tax.

Fascinating. I had no idea they were related.

Peter Schiff published a moving memorial speech about his Dad Irwin.

https://schiffgold.com/commentaries/death-of-a-patriot/

[VB1001]

Op Ed: How Layer 2 Protocols Can Improve Bitcoin for Remittances

Bitcoin is mostly viewed as a store of value or as “digital gold” these days, but there is also a growing number of people who mainly use the digital asset for international money transfers. These people don’t care about being a cypherpunk. They just want to get money from point A to point B in the fastest, cheapest manner possible.

https://bitcoinmagazine.com/articles/op-ed-how-layer-2-protocols-can-improve-bitcoin-for-remittances

Nothing we don't know, but the more they talk about Bitcoin, the better.

[btcbeliever]

It was interesting to learn than Schiff's dad, Irwin, died in prison 3 years ago as part of his protest/boycott on federal income tax.

Fascinating. I had no idea they were related.

Peter Schiff published a moving memorial speech about his Dad Irwin.

https://schiffgold.com/commentaries/death-of-a-patriot/

Here is some great educational reading: https://www.paynoincometax.com/federalmafia.htm

[HairyMaclairy]

It was interesting to learn than Schiff's dad, Irwin, died in prison 3 years ago as part of his protest/boycott on federal income tax.

Fascinating. I had no idea they were related.

Peter Schiff published a moving memorial speech about his Dad Irwin.

https://schiffgold.com/commentaries/death-of-a-patriot/

Sorry I am going to call this out. This will be a highly unpopular post.

Dying chained to a hospital bed because you refuse to pay federal taxes is not the act of a patriot.

It is an act of greed, foolishness and stubbornness.  

Here is some great educational reading: https://www.paynoincometax.com/federalmafia.htm

Given he died in prison, maybe not such a good idea to follow his advice. 

[JayJuanGee]

Golly

I guess these alts really can go to zero.

Which one(s)? 

We have a lot of zombie coins, that's for sure.

[fabiorem]

Bitcoin down and gold $1488.  A sign from the gods.

What gods? The jews who control the gold market?

[AlcoHoDL]

/tinfoil hat on

It seems somebody is buying large chunks of corn, then sending corn abroad and selling on the other side.

/tinfoil hat off

It's pAmping again...

If what you're saying is true, it makes it so tempting to sell at the top of the Bart and wait for the dump to rebuy more corn...

Will I do it? Probably not. Why? 1. I'm a hardcore HoDLer. 2. I'm very unlucky in trading, when I sell at the top of the Bart, it will turn out to be the bottom of the mega-FOMO rise we are all waiting for...

tl;dr: HoDL.

[JayJuanGee]

/tinfoil hat on

It seems somebody is buying large chunks of corn, then sending corn abroad and selling on the other side.

/tinfoil hat off

It's pAmping again...

If what you're saying is true, it makes it so tempting to sell at the top of the Bart and wait for the dump to rebuy more corn...

Will I do it? Probably not. Why? 1. I'm a hardcore HoDLer. 2. I'm very unlucky in trading, when I sell at the top of the Bart, it will turn out to be the bottom of the mega-FOMO rise we are all waiting for...

tl;dr: HoDL.

Exactly.. hodl..

There is no such thing as selling at the top of the bart, except for looking at the bart on the chart after the fact, and saying that is when you should have sold.

In other words... like you already said (besides the theoretical waxing and waning) hodl.. You dummy.    

[Paashaas]

Golly

I guess these alts really can go to zero.

Which one(s)? 

We have a lot of zombie coins, that's for sure.

Scammer Vitalik wants to scale ETH on the bCash chain temporary until ETH 2.0 arrives.

If this doesn't ring any alams bells towards the bag holders greater fools...

ETH 2.0?

[realr0ach]

Peter Schiff published a moving memorial speech about his Dad Irwin.

https://schiffgold.com/commentaries/death-of-a-patriot/

Sorry I am going to call this out. This will be a highly unpopular post.

Dying chained to a hospital bed because you refuse to pay federal taxes is not the act of a patriot.

It is an act of greed, foolishness and stubbornness.  

Far more likely that instead of the govt collapsing from people refusing to pay taxes, it collapses because the govt can too easily levy taxes through inflation, finally resulting in collapse through hyperinflation.  Instead of a simple downsizing in govt, you get a full implosion because accountability in spending is a tragedy of the commons for a govt that controls the monetary system.

[Krubster]

The news releasing today of what they known about for over a year is a little concerning. Wouldnt you agree?  
But still those hackers are in possession of all those customers information including government issued ids including passports which are good for 10 years!
Price of bitcoin is showing the sediment of those who are selling on binance so to get their funds off of there and close their accounts.

Yes, I do agree it's concerning. And devastating for the people affected. However, this isn't the first time this is covered by the media. It has been reported back in January this year.
https://decrypt.co/4648/binance-kraken-exchange-data-haul
According to that article, this database has been in circulation for about a year (from today) on various darknet sites.

My guess is that someone has bought this database on one of the darknet markets in an attempt to extort Binance of money.

But this hack didn't happen recently, and most likely Binance wasn't hacked at all in the first time. Possibly a 3rd party who handled the KYC documents at the time of the breach.

Here's a statement from Binance earlier today

Dear Binancians,

We would like to inform you that an unidentified individual has threatened and harassed us, demanding 300 BTC in exchange for withholding 10,000 photos that bear similarity to Binance KYC data. We are still investigating this case for legitimacy and relevancy. After refusing to cooperate and continuing with this extortion, this individual has begun distributing the data to the public and to media outlets.

First and foremost, there are inconsistencies when comparing this data to the data in our system. At the present time, no evidence has been supplied that indicates any KYC images have been obtained from Binance, as these images do not contain the digital watermark imprinted by our system. With that said, our security team is hard at work pursuing all possible leads in an attempt to identify the source of these images.

On initial review of the images made public, they all appear to be dated from February of 2018, at which time Binance had contracted a third-party vendor for KYC verification in order to handle the high volume of requests at that time. Currently, we are investigating with the third-party vendor for more information. We are continuing to investigate and will keep you informed.

We believe this is the same data set that was covered in previous news articles, such as: https://decrypt.co/4648/binance-kraken-exchange-data-haul. The hacker also claims he has KYC information from multiple exchanges. When asked to prove the source of the data, the individual demanded 300 BTC and refused to supply irrefutable evidence of their findings. Later, they went to the press under false pretenses, posing as a white hat with good intentions. The relevant law enforcement agencies have been contacted and we will be working closely with them to pursue this person.

If you are able to provide any information to help identify this person and allow us to pursue the individual through legal action, we will offer a reward of up to 25 BTC, dependent on the relevance of the data supplied. You may submit this information by opening a support ticket at https://support.binance.com.

Lastly, unrelated to this, please be wary of any fraudsters who may impersonate Binance customer service and request you to withdraw your funds.

Please remember that protecting our users’ privacy and keeping our systems secure, including the funds stored within, is our utmost priority. We have numerous measures in place to ensure the safe-keeping of our users’ information, and we will continue to maintain the highest degree of transparency while serving our community.

We will keep all of you updated with any developments throughout our investigation and we are grateful for your continued trust and support.

Binance Security Team

2019/08/07

https://www.binance.com/en/blog/365766157488967680/Statement-on-False-KYC-Leak

[Bitcoin Smith]

Golly

I guess these alts really can go to zero.

Which one(s)? 

We have a lot of zombie coins, that's for sure.

One seems to be BCH.

[btcbeliever]

Peter Schiff published a moving memorial speech about his Dad Irwin.

https://schiffgold.com/commentaries/death-of-a-patriot/

Sorry I am going to call this out. This will be a highly unpopular post.

Dying chained to a hospital bed because you refuse to pay federal taxes is not the act of a patriot.

It is an act of greed, foolishness and stubbornness.  

Far more likely that instead of the govt collapsing from people refusing to pay taxes, it collapses because the govt can too easily levy taxes through inflation, finally resulting in collapse through hyperinflation.  Instead of a simple downsizing in govt, you get a full implosion because accountability in spending is a tragedy of the commons for a govt that controls the monetary system.

Roach I totally agree, the real tax is the creation of that to finance the debt.  Income tax is merelly a tool of govt control and communist redistribution

[btcbeliever]

It was interesting to learn than Schiff's dad, Irwin, died in prison 3 years ago as part of his protest/boycott on federal income tax.

Fascinating. I had no idea they were related.

Peter Schiff published a moving memorial speech about his Dad Irwin.

https://schiffgold.com/commentaries/death-of-a-patriot/

Sorry I am going to call this out. This will be a highly unpopular post.

Dying chained to a hospital bed because you refuse to pay federal taxes is not the act of a patriot.

It is an act of greed, foolishness and stubbornness.  

Here is some great educational reading: https://www.paynoincometax.com/federalmafia.htm

Given he died in prison, maybe not such a good idea to follow his advice. 

Would you say the same of tank man at Tiennaman square?
Read Irwin s books, it's all documented truth  https://www.paynoincometax.com/federalmafia.htm

[Torque]

People like Martin Armstrong claim the govt is going to go ballistic trying to shakedown citizens for huge taxes and steal all their money in nefarious ways.  That's complete nonsense.  The common citizen has zero money to steal.  You can't get blood from a stone.  Their only option is for the govt to raid billionaires at places like Apple, Google, and Amazon because they accumulated all the money, but it will never happen because they're connected and have their money offshore anyway.  So print to Zimbabwe it is (or go back to metals as money because this is the end).

Actually they're already doing it, but not through higher taxes. It's by forcing higher debt and higher cost on to citizens by raising the price of everything they have to have, while keeping wages flat. College education up 3X in 10 years. House prices up 2-3X in 10 years. Car prices up 2X in 10 years. Smart phones up 5X in 10 years. Health Insurance up 3X in 10 years. Gas prices rising again. Electricity, natural gas doubled in 10 years. All while wages are stagnant or falling over the same period. The only thing they've managed to keep a lid on somewhat is food prices, because food is not based on long term debt that they can get interest from (ie., no one goes out and gets a long term loan for food). Margins on food is minuscule. Also food has a breaking point where you can't raise prices beyond (people will just grow it locally if it becomes too expensive).

People need to wake up! When equities, real estate, collectibles, cars, smart phones, energy, insurance, PMs, Bitcoin are all up higher and higher YoY at the same time wages are going south, economies are crumbling, retail is crumbling, and we have mass layoffs, it means that we are in a fkn melt up! Slow road to hyper inflation. How soon until it picks up speed?

[jbreher]

It was interesting to learn than Schiff's dad, Irwin, died in prison 3 years ago as part of his protest/boycott on federal income tax.

Fascinating. I had no idea they were related.

Peter Schiff published a moving memorial speech about his Dad Irwin.

https://schiffgold.com/commentaries/death-of-a-patriot/

Sorry I am going to call this out. This will be a highly unpopular post.

Dying chained to a hospital bed because you refuse to pay federal taxes is not the act of a patriot.

It is an act of greed, foolishness and stubbornness.  

If you have not read the evidence (I gather you have not), you may wish to retract your claim.

I have read the Code. I have read the legislative register. In contrast to what the IRS claims, there is no law nor regulation which subjects the regular income of US persons to an assessment of income tax.

Of course, the IRS claims differently. As was once famously said (Voltaire?) It is dangerous to be correct when your government is incorrect. So I have stopped tilting at that particular windmill, and pay according the illegal assessment as per the various 1040 forms. And reel in disgust each time.

[600watt]

Golly

I guess these alts really can go to zero.

Which one(s)? 

We have a lot of zombie coins, that's for sure.

we live in times of ZIRP & NIRP, so I guess these shitcoins might as well go sub zero, too.