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

[pfrtlpfmpf]

of course that doesn't stop someone who wants to screw with bitcoin going around to a few mines and burning them down. they must be quite hard to disguise these days.

Yep, one problem is that even if there is a bunch of hashrate unless it is well decentralised there are risks that a 51% of the hashrate can be owned and an attack carried out.

Ie: BITMAIN would be a great candidate for a hacking attack. Anyway, I think the impact would be mitigated by some sort of rollback/hardfork if something really obvious happened against the will and rules of the majority.

The cost of a "legit" hashrate attack is increasing greatly. That is a good thing. It also has an impact on price and price has an impact on hashrate (the recent price increase is in part responsible of the increase in hashrate).

Hashrate ?
Is that, when my girlfriend hashes me ?
Sorry, for being ignorant  

[European Central Bank]

https://www.okcoin.com/t-387.html

okcoin lists eth/etc because it's getting dominant. and then tells bitcoin to sort its dominance out.

[pfrtlpfmpf]

I think, people (currently japan) are just buying by name, bitcoin beeing number one, ethereum sounds good too, but man, satoshi picked the best name, right off the start.

I mean, they have no idea about bitcoin or altcoin, new money picks whatever sounds good, and i`m there. They even just try to spell "cryptocurrencies" !

[BlindMayorBitcorn]

I'm just sitting here watching the world get rich with alt coins. But that's none of my business..

[Torque]

Some of you guys that maybe don't have any experience in the stock markets, should go and do some research.

There are thousands of "penny stock" small cap companies out there, some of whose stocks trade for single digit dollars every day (millions of shares traded per day) that are literally bankrupt. Meaning that their outstanding debts far out way their assets, current net profits (if any), and future net profits (if any). Many of them make zero profit at all, and probably never will. And most have 90%+ of their stocks owned either by the CEO and/or their creditors, with the remaining float being tiny.

See any correlation here with the Altlandia market? I do.

[FractalUniverse]

I think, people (currently japan) are just buying by name, bitcoin beeing number one, ethereum sounds good too, but man, satoshi picked the best name, right off the start.

ethereum doesn't sound good to me. there are much better names of altcoins out there.
but i agree that bitcoin is the best brand for foreseeable future.

[pfrtlpfmpf]

I'm just sitting here watching the world get rich with alt coins. But that's none of my business..

It should be !

[bitserve]

I think, people (currently japan) are just buying by name, bitcoin beeing number one, ethereum sounds good too, but man, satoshi picked the best name, right off the start.

ethereum doesn't sound good to me. there are much better names of altcoins out there.
but i agree that bitcoin is the best brand for foreseeable future.

Dash sounds to me like a very good name from a marketing view. Never owned one myself though... neither I plan to.

Ripple, on the other hand, is an awlful name. It sounds like "Rip off". I have been "Rippled".... you know... But i am not english native so maybe I am totally wrong on MY perception.

I don't think most people is "investing" on the names. They just follow the trend and while it is giving paper book profits they go on... until a good portion of them start trying to take profits from it and the price plunges.

[bitebits]

[...] For some of my bitcoins I recently purchased some crypto-steel and stored some bitcoins on those. I just moved from Afghanistan to Korea spending a few weeks in Thailand, Cambodia, Vietnam and French Polynesia. By moving, that meant bringing my crypto-steel with me (not trusting it to some post office). So here I am traveling with these metal squares through various security. I spent about 15 minutes in Dubai trying to explain my crypto-steel to security (I had them wrapped in metalic tape to ensure nobody tampered with them). I finally had to unwrap one enough to show what was inside (I also had full chemical gear so that was part of the inquisition as well....long story). I ended up checking my bag in with the crypto-steel from there on out and was paranoid every minute that they were not in my possession. Every hotel I went to had to have a safe. I ended up in one hotel without a safe and I only left briefly to eat. I ended up using a bus instead of going on airplanes when I traveled due to the difficulty. Flying from Vietnam to French Polynesia I decided to keep the crypto-steel with me to avoid the worry I had before. I had to explain to a Vietnamese security guard what they were, I used pictures on my phone and was ok after 5 minutes (I was surprised when he said "oh, Bitcoin!").
[...]

Thanks for sharing your experience Elwar. Had a similar one explaining a few Casascius coins.

I am wondering though why you carry the cryptosteel around. Just remember a 12 word Electrum seed and you have no explaining to do crossing borders, and no worries of being robbed when away from 'home'. Still each time I punch in those 12 words from memory to cold sign a transaction, it feels like magic internet money. It makes me again experience how powerful and independent Bitcoin really is.

[Torque]

I think, people (currently japan) are just buying by name, bitcoin beeing number one, ethereum sounds good too, but man, satoshi picked the best name, right off the start.

ethereum doesn't sound good to me. there are much better names of altcoins out there.
but i agree that bitcoin is the best brand for foreseeable future.

Dash sounds to me like a very good name from a marketing view. Never owned one myself though... neither I plan to.

Ripple, on the other hand, is an awlful name. It sounds like "Rip off". I have been "Rippled".... you know... But i am not english native so maybe I am totally wrong on MY perception.

I don't think most people is "investing" on the names. They just follow the trend and while it is giving paper book profits they go on... until a good portion of them start trying to take profits from it and the price plunges.

Seriously guys? Those altcoin names suck so bad.

Ethereum: corporeal, not real, vapor, vaporware, gone

Dash: as in we 'dash off' with your money

Monero: something a Spanish street gang uses to buy drugs with

Litecoin: half the calories of Bitcoin! (or should I say 1/4)

Ripple: a shitty energy drink

Zcash: wtf? The last letter of the alphabet?

Stellar Lumens? Golem? Bytecoin?: I just cant.

... and I could go on. And these folks believe people are going to take these 'currencies' seriously on a world wide level? Come on...

[BlindMayorBitcorn]

I'm just sitting here watching the world get rich with alt coins. But that's none of my business..

It should be !

In what universe could you have predicted an OMNI would double overnight?

[European Central Bank]

[...] For some of my bitcoins I recently purchased some crypto-steel and stored some bitcoins on those. I just moved from Afghanistan to Korea spending a few weeks in Thailand, Cambodia, Vietnam and French Polynesia. By moving, that meant bringing my crypto-steel with me (not trusting it to some post office). So here I am traveling with these metal squares through various security. I spent about 15 minutes in Dubai trying to explain my crypto-steel to security (I had them wrapped in metalic tape to ensure nobody tampered with them). I finally had to unwrap one enough to show what was inside (I also had full chemical gear so that was part of the inquisition as well....long story). I ended up checking my bag in with the crypto-steel from there on out and was paranoid every minute that they were not in my possession. Every hotel I went to had to have a safe. I ended up in one hotel without a safe and I only left briefly to eat. I ended up using a bus instead of going on airplanes when I traveled due to the difficulty. Flying from Vietnam to French Polynesia I decided to keep the crypto-steel with me to avoid the worry I had before. I had to explain to a Vietnamese security guard what they were, I used pictures on my phone and was ok after 5 minutes (I was surprised when he said "oh, Bitcoin!").
[...]

Thanks for sharing your experience Elwar. Had a similar one explaining a few Casascius coins.

I am wondering though why you carry the cryptosteel around. Just remember a 12 word Electrum seed and you have no explaining to do crossing borders, and no worries of being robbed when away from 'home'. Still each time I punch in those 12 words from memory to cold sign a transaction, it feels like magic internet money. It makes me again experience how powerful and independent Bitcoin really is.

does cryptosteel disguise your seed in any way or is it written down raw? it seems kind of stupid to have something so unusual that will attract attention not adding some extra security.

[bitserve]

I think, people (currently japan) are just buying by name, bitcoin beeing number one, ethereum sounds good too, but man, satoshi picked the best name, right off the start.

ethereum doesn't sound good to me. there are much better names of altcoins out there.
but i agree that bitcoin is the best brand for foreseeable future.

Dash sounds to me like a very good name from a marketing view. Never owned one myself though... neither I plan to.

Ripple, on the other hand, is an awlful name. It sounds like "Rip off". I have been "Rippled".... you know... But i am not english native so maybe I am totally wrong on MY perception.

I don't think most people is "investing" on the names. They just follow the trend and while it is giving paper book profits they go on... until a good portion of them start trying to take profits from it and the price plunges.

Monero: something a Spanish street gang uses to buy drugs with

As a spanish speaking guy I can tell you it doesn't sound like that. It sounds like "Monedero" which literal translation is wallet for storing coins.

I don't like it anyways.

[European Central Bank]

As a spanish speaking guy I can tell you it doesn't sound like that. It sounds like "Monedero" which literal translation is wallet for storing coins.

I don't like it anyways.

it's esperanto i believe.

there are worse names out there. but anyone basing financial decisions on names is kinda weird in my opinion.

[Dabs]

Here's an idea. Get a dictionary. (or any book for that matter). Instead of writing down the private key or code, you circle a few letters per page starting from somewhere in the middle, and skip a few pages.

Sort of steganography. I'm sure you can think of more ways to use every day things that will not attract airport security.

In-flight magazines that you're allowed to take home, tour book. A bunch of letters in a necklace. Handwritten with a sharpie on the inside of your undershirt.

Or my personal favorite, a microSD card hidden on or about your person, shoes, belt buckle, stitched to the hem of your pants or shirt sleeves, taped under your watch, or just stuck in your leather wallet (where you hold your credit cards, if you have those.)

A bunch of coins in a coin purse with one fake hollowed out coin; or two coins taped together with the card in the middle, should work just as well.

[bitserve]

Here's an idea. Get a dictionary. (or any book for that matter). Instead of writing down the private key or code, you circle a few letters per page starting from somewhere in the middle, and skip a few pages.

Sort of steganography. I'm sure you can think of more ways to use every day things that will not attract airport security.

In-flight magazines that you're allowed to take home, tour book. A bunch of letters in a necklace. Handwritten with a sharpie on the inside of your undershirt.

Or my personal favorite, a microSD card hidden on or about your person, shoes, belt buckle, stitched to the hem of your pants or shirt sleeves, taped under your watch, or just stuck in your leather wallet (where you hold your credit cards, if you have those.)

A bunch of coins in a coin purse with one fake hollowed out coin; or two coins taped together with the card in the middle, should work just as well.

I think Elwar doesn't own a "home" so that's why he carries his valuables with him on his travels.

The idea of the microSD with an encrypted (with a simpler password than a full seed) file with the private keys is very good. You can even carry it in one of these:

http://the-gadgeteer.com/2009/09/19/hide-a-microsd-card-inside-a-nickle-spy-coins/

Or hid it inside any other valuables.

If I were Elwar I would have already bought some cheap real state somewhere even if just to store my stuff. There are many places in first world countries where you can buy one for just a few tens of thousands.

Also, memorizing the seed is not that bad IF YOU HAVE BACKUPS somewhere. You don't want to rely just on your brain when in case of failure is when you would most likely need the money.

[BTCtrader71]

does cryptosteel disguise your seed in any way or is it written down raw? it seems kind of stupid to have something so unusual that will attract attention not adding some extra security.

it's intended to be written down raw, although of course there's no reason you can't scramble it in some fashion, like reverse the order of the words. or something more complex than that if you wish

[FractalUniverse]

Now I feel foolish, traded the top of the BTC/ETH bubble,  now a big dive on polo. 

... don't buy ETH.

FTFY

ETH is already at 20 billion marketcap 

This will be a complete bloodbath once people realize that no real use cases for ETH exist...

they dont even need to put much effort and money into this pump now, as the sheep are flocking in and pumping it all by themselves

[pfrtlpfmpf]

[...] For some of my bitcoins I recently purchased some crypto-steel and stored some bitcoins on those. I just moved from Afghanistan to Korea spending a few weeks in Thailand, Cambodia, Vietnam and French Polynesia. By moving, that meant bringing my crypto-steel with me (not trusting it to some post office). So here I am traveling with these metal squares through various security. I spent about 15 minutes in Dubai trying to explain my crypto-steel to security (I had them wrapped in metalic tape to ensure nobody tampered with them). I finally had to unwrap one enough to show what was inside (I also had full chemical gear so that was part of the inquisition as well....long story). I ended up checking my bag in with the crypto-steel from there on out and was paranoid every minute that they were not in my possession. Every hotel I went to had to have a safe. I ended up in one hotel without a safe and I only left briefly to eat. I ended up using a bus instead of going on airplanes when I traveled due to the difficulty. Flying from Vietnam to French Polynesia I decided to keep the crypto-steel with me to avoid the worry I had before. I had to explain to a Vietnamese security guard what they were, I used pictures on my phone and was ok after 5 minutes (I was surprised when he said "oh, Bitcoin!").
[...]

Thanks for sharing your experience Elwar. Had a similar one explaining a few Casascius coins.

I am wondering though why you carry the cryptosteel around. Just remember a 12 word Electrum seed and you have no explaining to do crossing borders, and no worries of being robbed when away from 'home'. Still each time I punch in those 12 words from memory to cold sign a transaction, it feels like magic internet money. It makes me again experience how powerful and independent Bitcoin really is.

does cryptosteel disguise your seed in any way or is it written down raw? it seems kind of stupid to have something so unusual that will attract attention not adding some extra security.

I have written "pfrtlpfmpf" on the side of it, that should distract any reader !

[Ted E. Bare]

I don't even know what that means!