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

[hdbuck]

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).

thats not a HF proposal, just bribing the miners to 51% attack the network.

[Mrpumperitis]

Kraken just did and soon many more exchanges will tell customers....
DO NOT USE EXCHANGES AS WALLETS  

[lemmyK]

AN ERROR HAS OCCURED
Don't worry, we've been notified about the issue and are taking a look. Please try again in a few minutes, or if the problem persists feel free to add a Bug Report. Sorry for the trouble!

Coinbase..      

[AlexGR]

AN ERROR HAS OCCURED
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Coinbase..      

Bank-run every m'f'ing exchange. That's how price will rebound fast. Half of them are doing fractional reserve banking.

[adamstgBit]

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).

thats not a HF proposal, just bribing the miners to 51% attack the network.

idk how i feel about that.

[Derek492]

Remember Bitfloor? Remember MT Gox? Remember Moola? Remember Cryptsy? Remember … and never forget!!!!

[marcus_of_augustus]

AN ERROR HAS OCCURED
Don't worry, we've been notified about the issue and are taking a look. Please try again in a few minutes, or if the problem persists feel free to add a Bug Report. Sorry for the trouble!

Coinbase..      

well a run on Coinbase was well underway before this ... so now if you have coins on coinbase those are basically gone ... idiots.

bitcoin is not for idiots, yet.

Coinbased before you're Finexed

[LordCoder]

Remember Bitfloor? Remember MT Gox? Remember Moola? Remember Cryptsy? Remember … and never forget!!!!

People don't remember. That's the key factor for a security researcher to perform the attack. If there was no BTC, why would they do this?  

[Hyperjacked]

I went for a shower... missed all the fun...  

I see a lot of explosions happening... and 2nd degree burns... Run bears... run!!!

The Bears are eating like kings n drinking gin n juice...

[Mrpumperitis]

LOL people are suggesting to pull an ETH/ETC style hard fork fix to the BTC chain... after the precedent that ETH and Vitalik have created... bad idea guys

lol yeap but they dont understand ...ETH can reverse a sngle transaction but even if btc wanted too , it cant unless every single transaction on entire blockchain get reversed

with >51% hashing power you could rebuild the chain EXACTLY as it was before, minus that TX that made bitfinex blow up
no HF required.
the core way.

not really , what about every transaction that has happened with the hacked coins since the past few hours and maybe even before Bitfinex even knew they were hacked...the coins have prob moved several times to several dif wallets.

[andyatcrux]

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).

thats not a HF proposal, just bribing the miners to 51% attack the network.

idk how i feel about that.

[marcus_of_augustus]

Looks like Bitfinex security model for cold storage of Margined coins was changed to suit the CFTC legal rules

http://www.cftc.gov/idc/groups/public/@lrenforcementactions/documents/legalpleading/enfbfxnaorder060216.pdf

so gubmint fucked up bitcoin exchanges seem to be becoming the norm

[Mrpumperitis]

LOL people are suggesting to pull an ETH/ETC style hard fork fix to the BTC chain... after the precedent that ETH and Vitalik have created... bad idea guys

lol yeap but they dont understand ...ETH can reverse a sngle transaction but even if btc wanted too , it cant unless every single transaction on entire blockchain get reversed

with >51% hashing power you could rebuild the chain EXACTLY as it was before, minus that TX that made bitfinex blow up
no HF required.
the core way.

If mETH taught us anything, greed always finds a way. I almost expect this to happen.

If mEth has taught me anything, its how much dif it is from BTC

[MinermanNC]

Remember Bitfloor? Remember MT Gox? Remember Moola? Remember Cryptsy? Remember … and never forget!!!!

People don't remember. That's the key factor for a security researcher to perform the attack. If there was no BTC, why would they do this?  

lol I remember!  

I still suspect an inside job of sorts....

[ImI]

LOL people are suggesting to pull an ETH/ETC style hard fork fix to the BTC chain... after the precedent that ETH and Vitalik have created... bad idea guys

lol yeap but they dont understand ...ETH can reverse a sngle transaction but even if btc wanted too , it cant unless every single transaction on entire blockchain get reversed

with >51% hashing power you could rebuild the chain EXACTLY as it was before, minus that TX that made bitfinex blow up
no HF required.
the core way.

If mETH taught us anything, greed always finds a way. I almost expect this to happen.

even with bitcoin miner being so "centralized" it requires to much coordination
51% hashing power cannot be bought.
we can dream about it, and think that ya maybe there's a way.
but it won't happen.

no dream, nightmare. you dont wanna see that backslash...

[Mrpumperitis]

LOL people are suggesting to pull an ETH/ETC style hard fork fix to the BTC chain... after the precedent that ETH and Vitalik have created... bad idea guys

lol yeap but they dont understand ...ETH can reverse a sngle transaction but even if btc wanted too , it cant unless every single transaction on entire blockchain get reversed

with >51% hashing power you could rebuild the chain EXACTLY as it was before, minus that TX that made bitfinex blow up
no HF required.
the core way.

If mETH taught us anything, greed always finds a way. I almost expect this to happen.

even with bitcoin miner being so "centralized" it requires to much coordination
51% hashing power cannot be bought.
we can dream about it, and think that ya maybe there's a way.
but it won't happen.

not really , what about every transaction that has happened with the hacked coins since the past few hours and maybe even before Bitfinex even knew they were hacked...the coins have prob moved several times to several dif wallets.

The two reasons eth could do it is, one there is a feature built in to the code and secondly the coins were locked for 35days slowing down the hacker.

[savetherainforest]

I went for a shower... missed all the fun...  

I see a lot of explosions happening... and 2nd degree burns... Run bears... run!!!

The Bears are eating like kings n drinking gin n juice...

I know...    ... I dumped too... But I count what I own in coins not fiat...   (*Edit:  Meaning I sit 90% of the time in coins.. and 10% in fiat.(*Edit2: And I never go to sleep holding fiat!))

[European Central Bank]

Definitely interesting to speculate the what ifs? lol that's what it would take

so bitfinex would not also screw their customers, they'd also screw the whole of bitcoin by setting an unacceptable precedent. I don't think everyone else should suffer because of their dumb moves and it kinda blows my mind that it's being discussed.

it would be a nail in the coffin for the idea that this thing's set itself up as but i can understand why it's being proposed. i hope no one caves all the same.

if it didn't happen with gox, even though that would've been impossible as it was all too messy, untraceable and elongated, then it shouldn't happen now.

[Mrpumperitis]

Definitely interesting to speculate the what ifs? lol that's what it would take

so bitfinex would not also screw their customers, they'd also screw the whole of bitcoin by setting an unacceptable precedent. I don't think everyone else should suffer because of their dumb moves and it kinda blows my mind that it's being discussed.

it would be a nail in the coffin for the idea that this thing's set itself up as but i can understand why it's being proposed. i hope no one caves all the same.

lol its not possible on btc

[BlindMayorBitcorn]

Definitely interesting to speculate the what ifs? lol that's what it would take

so bitfinex would not also screw their customers, they'd also screw the whole of bitcoin by setting an unacceptable precedent. I don't think everyone else should suffer because of their dumb moves and it kinda blows my mind that it's being discussed.

it would be a nail in the coffin for the idea that this thing's set itself up as but i can understand why it's being proposed. i hope no one caves all the same.

They'll be declaring bankruptcy any minute now. I'd put money on it.