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

[coinsplz777]

glad to see we are getting away from the bottom 

[Agaguk24]

This could turn out to be a fast recovery lol

A nice price correction. back to 700.00 would work  

Don't hold your breath. Price was trending down already after the block halving non event

[philiveyjr]

How come they lost so much? Aren't they storing cold?

No. Users had multisig addys. They didn't use hot/cold.

can you (or anyone else ) explain the 2/3 keys needed to move the coins?

1 is the client
1 is bitfienx

what's the 3rd???

No. Client held no keys. One is finex. Two is bitgo. The third I think is also finex (offline). Either way is a shitty implementation.

Just read the representatives reply on this. They say bitgo was only for ETH market and not the bitcoin market. So no hope of recovery from there.

[philiveyjr]

From what I have read, there is a possibility that its bitgo's fault on the hack, and if thats the case then they do have insurance. But I doubt it will get all this covered. We will know once the company releases an announcement about it.

didn't bitpay recently fail in an insurance claim?

You mean you expect an insurgence co to pay out because CTO knowingly bypassed security protocall and told CEO "Yo broster, send over some coinz to this addy!" because wanted concert tix or some shit?

Evol insurance companies... Can't trust them.

Read my post before you. Apparently bitgo had nothing to do with the bitcoin market. It was the ETH they are responsible for , which right now is safe.

[gizmoh]

https://twitter.com/MagicalTux/status/760609149646311424

@guruvan Just for the record let me say that I have nothing to do with what happened to @bitfinex


What an asshole!

[marcus_of_augustus]

This could turn out to be a fast recovery lol

A nice price correction. back to 700.00 would work  

... anything is possible now the overhang of finex shorting machine has been removed.

[AlexGR]

positive note: all that exaggerated halving-positivity is vapourized.

Personally speaking I was expecting something like that to happen. Price suppression post-halving could last for so long without some source of coins, so they would have to "find" coins through other means (like hacks). Hacking for coins is an act of desperation for market suppression, yet fundamentals are stronger than pre-halving: Inflation is now -657.000 coins less per year than what it was pre-halvening. So even 110k coins is just 1 months supply at pre-halvening rate.

[Dafar]

https://twitter.com/MagicalTux/status/760609149646311424

@guruvan Just for the record let me say that I have nothing to do with what happened to @bitfinex


What an asshole!

The kid's got some jokes 

[Fatman3001]

At least we don't have to worry about those finex margin longs any more.


Btw, I'm sorry for those who lost on finex today. I'd suggest you seek legal assistance asap.

[JayJuanGee]

@JJG: I thought this might be the SFYL spark that got you to hodl your own BTC in your own wallet, guess not. 

JJG's seriously mixed emotions:
On one hand, his coin got stolen; on the other, BTC is tanking, so he didn't lose as much

Both of you guys are goofie in your attempt to troll and to stalk other people, merely to attempt to make fun of other people without providing any meaningful or interesting or even genuine details regarding your own BTC positions.

[BlindMayorBitcorn]

positive note: all that exaggerated halving-positivity is vapourized.

Personally speaking I was expecting something like that to happen. Price suppression post-halving could last for so long without some source of coins, so they would have to "find" coins through other means (like hacks). Hacking for coins is an act of desperation for market suppression, yet fundamentals are stronger than pre-halving: Inflation is now -657.000 coins less per year than what it was pre-halvening. So even 110k coins is just 1 months supply at pre-halvening rate.

This is such bullshit. Bitcoin is a ticking bug-bounty... A $100 trezor!

[AlexGR]

This is such bullshit. Bitcoin is a ticking bug-bounty... A $100 trezor!

It is, but bitcoin wasn't hacked. Bitfinex was

[European Central Bank]

https://np.reddit.com/r/Bitcoin/comments/4vupa6/p2shinfo_shows_movement_out_of_multisig_wallets/d61ro84?context=1

what does everyone make of this?

'Zane, this is many times larger than the block reward for the duration of time that has elapsed. Have you considered getting a list of transactions to blacklist and getting miners to reorg the theft? The window of time for that hasn't closed.
(If this happened in the last day, then that's 12.5*144 blocks = 1,800 BTC in subsidy. That's <2% of the hack.)'

from a core developer.

[adamstgBit]

i get that this might come off as really optimistic but...

bitfinex is a massive entity, its not impossible they can handle the loss and work on farcical reserves for a few years?
i mean banks work with <10% farcical reserves??? why cant bitfinex work with like 50%

[Holliday]

https://np.reddit.com/r/Bitcoin/comments/4vupa6/p2shinfo_shows_movement_out_of_multisig_wallets/d61ro84?context=1

what does everyone make of this?

'Zane, this is many times larger than the block reward for the duration of time that has elapsed. Have you considered getting a list of transactions to blacklist and getting miners to reorg the theft? The window of time for that hasn't closed.
(If this happened in the last day, then that's 12.5*144 blocks = 1,800 BTC in subsidy. That's <2% of the hack.)'

from a core developer.

I can't wait to sell my coins on the rollback fork.

[marcus_of_augustus]

Bitcoin exchanges have been getting hacked regularly since 2011, especially the biggest ones ... only fucking idiots would know this and keep their coins on an exchange ...
https://bitcointalk.org/index.php?topic=576337

basically if you send coins to an exchange you should consider them coins GONE.

[savetherainforest]

LoL ... this guy could write prophecies... https://www.youtube.com/watch?v=ZxkKkN0hluk


He actually said it will go under 660$ .. till somewhere 615$ ... then go up in stairs... is the 2nd time I listen to the madness of the guy... (first time was in September/October last year when I listened what he had to say)

He proves to be a good source... maybe even more luck in the future!  

[AlexGR]

https://np.reddit.com/r/Bitcoin/comments/4vupa6/p2shinfo_shows_movement_out_of_multisig_wallets/d61ro84?context=1

what does everyone make of this?

'Zane, this is many times larger than the block reward for the duration of time that has elapsed. Have you considered getting a list of transactions to blacklist and getting miners to reorg the theft? The window of time for that hasn't closed.
(If this happened in the last day, then that's 12.5*144 blocks = 1,800 BTC in subsidy. That's <2% of the hack.)'

from a core developer.

Bitcoin survived with something like 7% of all coins getting hacked, why would it hard fork for ...0.7%? It's a non-issue (for the greater whole).

[becoin]

positive note: all that exaggerated halving-positivity is vapourized.

Personally speaking I was expecting something like that to happen. Price suppression post-halving could last for so long without some source of coins, so they would have to "find" coins through other means (like hacks). Hacking for coins is an act of desperation for market suppression, yet fundamentals are stronger than pre-halving: Inflation is now -657.000 coins less per year than what it was pre-halvening. So even 110k coins is just 1 months supply at pre-halvening rate.

I was expecting something like that too. All those "hacks" can be done only with help from insiders.

[USB-S]

EVERY YEAR THE SAME FUCKING SHIT!