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

[yefi]

I would say that Wright went this route because he knew that his buddy who died (right around the time Satoshi said he had to leave to do other things) was Satoshi. Knowing this, he could claim to be Satoshi knowing the real Satoshi would never reveal himself. But he doesn't have the private keys. If he did he would have proved he was Satoshi long ago.

On penalty of rehashing old ground, where is the evidence that Kleiman ever was his buddy? Because Wright said or implied so? Wright is the kind of guy who'd read an obituary and tell you he knew the deceased intimately if he thought he could scrounge a penny (imho).

[savetherainforest]

Yaaaayyyy!!! ... OMG!!! We are having correction...    

 

Or this is the beginning of another year long bear market. Remember that? Imagine.

It is too bullish! ... The emotional state of things suggests that the price of $900 - 1000$ is like a thing imprinted on the skulls of the hodlers!



I base my assumptions on chaos and the unstable emotional state of mind of people. That's just pure logic for me!

So... there is too much greed in this world and monetary devaluation in countries fighting each other to compete for cheaper exports to just squeeze that turnip hard enough till it squeals.



Btw... I don't know if I read all the comments properly, especially the long ones (aka. "made a la JJG" ), but... that rate hike to 45% in China.  

[simmo77]

I would say that Wright went this route because he knew that his buddy who died (right around the time Satoshi said he had to leave to do other things) was Satoshi. Knowing this, he could claim to be Satoshi knowing the real Satoshi would never reveal himself. But he doesn't have the private keys. If he did he would have proved he was Satoshi long ago.

On penalty of rehashing old ground, where is the evidence that Kleiman ever was his buddy? Because Wright said or implied so? Wright is the kind of guy who'd read an obituary and tell you he knew the deceased intimately if he thought he could scrounge a penny (imho).

So, remind me again how many Bitcoins Satoshi is supposed to have mined/owns?

[BlindMayorBitcorn]

I would say that Wright went this route because he knew that his buddy who died (right around the time Satoshi said he had to leave to do other things) was Satoshi. Knowing this, he could claim to be Satoshi knowing the real Satoshi would never reveal himself. But he doesn't have the private keys. If he did he would have proved he was Satoshi long ago.

On penalty of rehashing old ground, where is the evidence that Kleiman ever was his buddy? Because Wright said or implied so? Wright is the kind of guy who'd read an obituary and tell you he knew the deceased intimately if he thought he could scrounge a penny (imho).

So, remind me again how many Bitcoins Satoshi is supposed to have mined/owns?

To whom it may concern,
CC: Dr Craig Wright

I acknowledge the trust and the transfer of Bitcoins to this trust. I have full control of all software
and the keys used to manage bitcoin as of this date, Thu 06/09/2011.

It is agreed that:

David Kleiman, shall become the trustee for the transfer of the satoshi I have received from Craig
Wright.

No record of this transaction will be filed in the US or Australia.

The transfer is valued at USD 100,000 for Australian Tax purposes.

I acknowledge:

Dave Kleiman have received 1,100,111 Bitcoin from Craig Wright (of?Bagnoo,
NSW Australia). At the time of transfer this is valued at around $100,000 USD.

I will form a trust to be managed by at least three people but not more than seven at any time.
All Bitcoin will be returned to Dr Wright on Jan 01St 2020.

The return will be in the form of a return of control of a company to Dr Wright. The company and
trust will be managed and held in the Seychelles. This will be designated by ?Tulips? and the trading
that was noted to have not been a bubble but

No record of this arrangement will be made public at any time.

Dr Wright has noted that he is facing bankruptcy due to the following and that he understands
moving assets (at value) in a manner that he cannot access may be a breach of Australian law if he
fails to provide information on these assets. This would be in the event of an insolvency.

Dr Wright has noted that he has agreed to forgo other assets to maintain these assets and has
agreed with his wife, Ms Wright that they he will maintain the Bitcoin at the expense of all
other assets he may have a right to.

The trust MUST hold a balance of at least 100,000 Bitcoin at transfer to Dr Wright in 2020 and all
means to ensure this will be followed.

Dr Wright MAY request a loan of Bitcoin for the following reasons (and no others):

0 Furthering research into peer to peer systems, and Bitcoin
0 Commercial activities that enhance the value and position of Bitcoin.

In all events, all transactions in loaned funds will be concluded outside of Australia and the USA until
and unless a clear and acceptable path to the recognition of Bitcoin as currency has occurred.

The trust will be accessible by two (2) of five keys of which the following are to always be
incorporated into this (by PGP fingerprint):

56EC 672A 6867 266A 5E21 1514 AODA OEBZ E545 E878
DBB7 E697 59EF D7FE EB4C F518 4FF1 CFEB C941 FE6D

[Searing]

I would say that Wright went this route because he knew that his buddy who died (right around the time Satoshi said he had to leave to do other things) was Satoshi. Knowing this, he could claim to be Satoshi knowing the real Satoshi would never reveal himself. But he doesn't have the private keys. If he did he would have proved he was Satoshi long ago.

On penalty of rehashing old ground, where is the evidence that Kleiman ever was his buddy? Because Wright said or implied so? Wright is the kind of guy who'd read an obituary and tell you he knew the deceased intimately if he thought he could scrounge a penny (imho).

Don't disagree but Craig Wright has a group making bitcoin patents for 2020 when supposedly he will have access to 1 million BTC as a trust. (If he was part
of the 3 man group etc)...I give it 1/2% chance of true...but if so...man the guy has a grudge...I bet he dumps it all out of spite

[Holliday]

I bet he dumps it all out of spite

Good. It would be one less thing the naysayers could constantly whine about. It can only affect the market once, and that's it.

That said, no fucking way is that dude satoshi. He was babbling incoherent stuff trying to sound smart on a panel where Nick Szabo is looking at him like, "WTF?"

[simmo77]

<snip> But he doesn't have the private keys. If he did he would have proved he was Satoshi long ago.

In your opinion (and anyone else who wants to add their 2c worth), do you think that Satoshi's private keys will ever be recovered? (assuming he is not around any more).


* My apologies if this is a topic that has been done to death. Bitcoin is just a hobby for me, I run a business which takes up most of my time and attention, I'm on holidays at the moment which means i've had more time to read this thread. I only resurrected my account in the past few months because of the price rise.
I'm a firm believer - but I don't have anywhere near the amount of time that most of the posters here seem to have to dedicate to all the history/mythology/speculation/theorising etc etc.    

[yefi]

So, remind me again how many Bitcoins Satoshi is supposed to have mined/owns?

Why do you ask? I certainly didn't mean to suggest Kleiman was Satoshi. Couldn't he just be some random dead guy who fits the profile Wright was looking for? Conveniently, dead guys aren't much for talking...

edit: Estimates vary, probably between half to one million.

Don't disagree but Craig Wright has a group making bitcoin patents for 2020 when supposedly he will have access to 1 million BTC as a trust. (If he was part
of the 3 man group etc)...I give it 1/2% chance of true...but if so...man the guy has a grudge...I bet he dumps it all out of spite

I give it about a 1 in 7 billion probability.

[simmo77]

Why do you ask?

It affects supply if Kleiman was Satoshi, and his private keys are buried treasure/unrecoverable

[JayJuanGee]

I have a "feeling" that we are going to move towards the $1,034 sell wall.. and who knows what is going to happen?  Anyone?

Typically walls get pulled rather than eaten.

That could be true, generally speaking, but in the past several weeks, I have seen a lot of sell walls eaten the fuck up.  So we will have to wait and see.  That sell wall has been there for about 8 hours or so, and it is still there... so I get the sense that it is real and I am fairly optimistic about it getting eaten, once the price get's close enough.

[Sundark]

So, remind me again how many Bitcoins Satoshi is supposed to have mined/owns?

Satoshi is believed to own about 7.5% of the entire bitcoin inventory, it is roughly 1/13 of all coins.

[JayJuanGee]

I had noticed this spamming of the blockchain,

The market is making the largest moves that it has made in years. Why do you classify transaction demand as spamming? Does it not make sense that times of great market volatility might be times that people might be genuinely desiring to move their BTC either on- or off- exchanges?

I doubt it...   The most plausible explanation is spam, especially if you look at the level of the spike.

people with big blocker agendas tend to want to view plausible facts and theories in order to attempt to suggest that there is something wrong with bitcoin due to organic growth..   

I will admit that there may be something wrong with bitcoin in the sense that it is difficult to prevent spam attacks, but making the blocks bigger is not going to solve that particular issue.

[savetherainforest]

So, remind me again how many Bitcoins Satoshi is supposed to have mined/owns?

Satoshi is believed to own about 7.5% of the entire bitcoin inventory, it is roughly 1/13 of all coins.

You people keep spewing these facts "randomly" but for me they are irrelevant! ... "Satoshi" will not dump!
And I know that for certain because a person that would invent something like this is someone striving for power and he/she is always in a permanent conflict of good and evil, right and wrong or light & darkness. A mind that can do both, a mind that has the power but doing harm or not depends on the circumstance. And I don't see from his/her perspective that doing harm or well being to others or to the world would be something that would leave any feeling behind after said action is performed. He/she seems to be a logical person that seeks a higher power of being.  

[kurious]

He and a group of investors are making patents on btc as we speak. He claims in
2020 he will be allowed 1 mil btc trust. If so imho we are screwed if true. He hates all
 now. Press,us all for not believing it was Satoshi if he is him. He will flush the works imho.

If the 1/2% chance it is true he is Satoshi or the last living of the supposed 3 man group that
Made btc. He's the btc boogieman long shot nightmare. (Damn scared stuff)

No, you got it all wrong. I'm bloody Satoshi. Don't believe me? Well, I don't have to provide bloody evidence. Show me I'm not or I fucking walk. I don't give a shit! Show me or bullshit! Fuck off, fuck off, fuck off!

Jeeez - he says 'Fuck off' about 8 times in a row at one point.  He is a dislikeable, nasty man and his dissembling and avoidance of obvious questions (PGP key, proof of the coins being his etc.) AFTER he CLAIMED to be Satoshi is simply risible.

If that is Satoshi, I am Queen Elizabeth II.

[simmo77]

So, remind me again how many Bitcoins Satoshi is supposed to have mined/owns?

Satoshi is believed to own about 7.5% of the entire bitcoin inventory, it is roughly 1/13 of all coins.

You people keep spewing these facts "randomly" but for me they are irrelevant! ... "Satoshi" will not dump!
And I know that for certain because a person that would invent something like this is someone striving for power and he/she is always in a permanent conflict of good and evil, right and wrong or light & darkness. A mind that can do both, a mind that has the power but doing harm or not depends on the circumstance. And I don't see from his/her perspective that doing harm or well being to others or to the world would be something that would leave any feeling behind after said action is performed. He/she seems to be a logical person that seeks a higher power of being.  

Come on mate, re-read what you just wrote....

You derided people for "Spewing facts randomly" - Sundark said "is believed to" and "roughly"... hardly stating fact.

Then you said "I know for certain" that Satoshi will not dump, when clearly you don't, and then spouted a bunch of stuff that was reminiscent of a religious sermon to back up your assertion.

[savetherainforest]

So, remind me again how many Bitcoins Satoshi is supposed to have mined/owns?

Satoshi is believed to own about 7.5% of the entire bitcoin inventory, it is roughly 1/13 of all coins.

[...]

You derided people for "Spewing facts randomly" - Sundark said "is believed to" and "roughly"... hardly stating fact.

[...]

He implied the amount as if something would have happened with that said amount.


So... nothing will happen! ... That is just future nest egg.

And for what I'm concern the guy maybe wants to build a pyramid with that money? Why should I care? He created it, he got a share of it, he has got his well deserved due diligence for the gift he offered to the world!

[Cassius]

He and a group of investors are making patents on btc as we speak. He claims in
2020 he will be allowed 1 mil btc trust. If so imho we are screwed if true. He hates all
 now. Press,us all for not believing it was Satoshi if he is him. He will flush the works imho.

If the 1/2% chance it is true he is Satoshi or the last living of the supposed 3 man group that
Made btc. He's the btc boogieman long shot nightmare. (Damn scared stuff)

No, you got it all wrong. I'm bloody Satoshi. Don't believe me? Well, I don't have to provide bloody evidence. Show me I'm not or I fucking walk. I don't give a shit! Show me or bullshit! Fuck off, fuck off, fuck off!

Jeeez - he says 'Fuck off' about 8 times in a row at one point.  He is a dislikeable, nasty man and his dissembling and avoidance of obvious questions (PGP key, proof of the coins being his etc.) AFTER he CLAIMED to be Satoshi is simply risible.

If that is Satoshi, I am Queen Elizabeth II.

I find it extremely hard to believe that Wright is Satoshi. Apart from failing to provide the proof he promised he would, his communication style is completely different to the Satoshi on the forums and email list. Wright is rambling and messy, if bright. Asking us to believe that the same person wrote his blog posts and did those interviews is like suggesting Charles Dickens would finish a book with 'lol kthxbye' or that JJG would write a haiku instead of a wall of text.
I also doubt whether those early 1m BTC will ever move. The long article in LRB fills out a lot of detail about Wright. It seems most likely to me that he was involved, perhaps tangentially, at the beginning, communicated with Kleiman (maybe Finney and others) at the beginning, but had no keys. Then he overplayed his hand and no one believes a word he says any more.

[harrymmmm]

Thank god. The damn is breaking. Armstrong recommends adoption of segwit asap.

https://twitter.com/brian_armstrong/status/817258720253988865

[kurious]

This is the W bottom....

If the last dip candle finishes inside the B band, and then is confirmed with strength (volume and green) - the theory says from here it's UP

Fingers crossed!

[Globb0]

From the times today.....

http://www.thetimes.co.uk/edition/business/biggest-fall-in-bitcoin-blamed-on-the-chinese-r7qqphbwq



Biggest fall in bitcoin blamed on the Chinese
The value of bitcoins, the cryptocurrency, created by technologists to circumvent state-backed paper money, suffered the heaviest fall in its 23-year history


Wow




Full article.....

Hailed as the great hope of libertarians around the world, the value of bitcoins, the cryptocurrency created by technologists to circumvent state-backed paper money, suffered the heaviest fall in its 23-year history.

Bitcoins fell by as much as 23 per cent yesterday, having hit a three-year high on Wednesday, as the digital currency’s value in dollars collapsed. Market watchers pointed to the rise in the Chinese renminbi as the likely culprit for the sell-off.

Bitcoins traded for as little as $885.41 on the BTC=BTSP exchange, having changed hands just a day earlier for a record $1,163. The electronic money has been regarded as the vanguard for a movement that wants to do away entirely with national currencies.

Chinese citizens are thought to be some of the largest buyers of bitcoins as they look for ways to circumvent strict rules on the money they can move out of China. As the renminbi has fallen in the past year, Chinese trading in bitcoins has risen. However, the sharp rise in the Chinese currency this week has seen the flow reversed. China is reported to be responsible for as much as 90 per cent of all trading in bitcoins.

“Long-term investors in bitcoin will be used to a degree of instability, with instability and illiquidity two of the major drawbacks of trading in the digital currency. Amid speculation that the Chinese are using bitcoins to navigate restrictions on foreign currency purchases, investors will hope this isn’t a precursor to Beijing implementing new controls on the purchase of cryptocurrencies,” Joshua Mahony, market analyst at IG, said.

The obvious attraction of bitcoins, which allow users to securely and anonymously move money around the world, is a cause for concern for Chinese officials who are attempting to keep a check on illegal capital flight.

Even with yesterday’s fall in the price of bitcoins, they have easily outperformed any other currency and are worth 50 per cent more than they were three months ago. “If something goes up very rapidly . . . people want to make a lot of money and at some point they’re going to want to sell in order to realise their gains,” Marco Streng, chief executive of Genesis Mining, a bitcoin mining and trading business, said.

The underlying blockchain technology behind bitcoins is one of the hottest areas in financial services at the moment and every leading banking group is working on ways to exploit the record-keeping system behind the currency.