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

[Lincoln6Echo]

Wow! Great story. !!

https://www.wired.com/story/i-forgot-my-pin-an-epic-tale-of-losing-dollar30000-in-bitcoin/

yeah read this too!

My favorite:

I’d conquered the Trezor with its nerdishly cruel PIN delay function, and one-upped the part of my brain that thought it could keep a secret from its owner. Fuck the both of you, I thought. I won.

Made me giggle. 

[AlcoHoDL]

Wow! Great story. !!

https://www.wired.com/story/i-forgot-my-pin-an-epic-tale-of-losing-dollar30000-in-bitcoin/

WOW indeed!

Good that the guy persisted and didn't give up. Lesson learned: always, ALWAYS, ALWAYS, ALWAYS take Bitcoin security extremely seriously. Reading about how the guy handled this matter made me feel he almost deserved to lose access to his coins. The part about the orange paper and the pillow almost infuriated me. Bloody hell...

[Cassius]

Wow! Great story. !!

https://www.wired.com/story/i-forgot-my-pin-an-epic-tale-of-losing-dollar30000-in-bitcoin/

yeah read this too!

My favorite:

I’d conquered the Trezor with its nerdishly cruel PIN delay function, and one-upped the part of my brain that thought it could keep a secret from its owner. Fuck the both of you, I thought. I won.

Made me giggle. 

That story is just fantastic.

[yefi]

Shouldn't he be the Institute for the Future's admin assistant rather than their research director? 

[JayJuanGee]

ATH @ Kraken!

5311 €

Diz iz gentlemen!

False start to this rally, perhaps?  24 hours more of engine revving needed?

Already broken! 5335 € now... I can't explain it, I just enjoy it...

Great!!!! Wonderful!!!!

But that is not the point of my question which may have been a slightly different topic regarding our seemingly pending and imminent rally, whether it is going to happen now, or take a bit longer to commence?  Are we going to get to $6800 in the coming day or two or will it take us until next week before we arrive there?

I believe it's going to take longer than a day or two to reach this value. People will sell. But as long as we get there, even if it takes a week, I'm happy.

There may be some truth to what you are saying, but I doubt that price movement is strictly about people buying and people selling....

Look. If we diddle dally around at the same price for too many days, then people likely start to open longs.. blah blah blah.., and then it seems easier to cause a cascading effect to force the closing of longs than it does to cause the force closing of shorts (meaning forcing going down rather than up).

Of course, both the force closing of longs and the force closing of shorts goes on, and we saw many force closings of shorts, yesterday.. hahahahaha... yet part of the difficulties in determining when a price rally or dump is going to occur is that we don't know about the combination of factors including whether some pumps or dumps have not been successful from any whales perspective and whether some of the main players (whales) are running out of BTC or fiat.. and maybe when one whale pulls the trigger to go in one direction, it might become easier for other whales to just to go with the flow - or sometimes a small whale pulls the trigger too early, and the other whales are not willing to go along with it.

So, yeah, "people are gonna sell" remains part of the explanation, but there remains a lot of behind the scenes difficulties for "regular" folks to determine whether the next large movement is going to be a pump or a dump.

[bitcoinPsycho]

Wow! Great story. !!

https://www.wired.com/story/i-forgot-my-pin-an-epic-tale-of-losing-dollar30000-in-bitcoin/

So if this is true then it's possible to hack/crack a Trezor?
   

I'm not so sure having such a physical device is actually a good idea regardless.
You can be sure that anyone you see owning a Trezor has probably got crypto. Just a random dude with a computer not necessarily so /most probably not.

the exploit only affects old firmware apparently

[AlcoHoDL]

Wow! Great story. !!

https://www.wired.com/story/i-forgot-my-pin-an-epic-tale-of-losing-dollar30000-in-bitcoin/

So if this is true then it's possible to hack/crack a Trezor?
   

I'm not so sure having such a physical device is actually a good idea regardless.
You can be sure that anyone you see owning a Trezor has probably got crypto. Just a random dude with a computer not necessarily so /most probably not.

They fixed that hole in f/w ver. 1.5.2. As for the potential for future holes, it's always going to be there. It's still far better than a paper wallet though. With a paper wallet everything is out in the open, just a photo of your private key QR code and your coins are lost. With a TREZOR a thief needs to jump through many hoops to have some hope of getting to your keys. It took that guy 1.5 years to get access to his coins.

[bitserve]

Wow! Great story. !!

https://www.wired.com/story/i-forgot-my-pin-an-epic-tale-of-losing-dollar30000-in-bitcoin/

So if this is true then it's possible to hack/crack a Trezor?
   

I'm not so sure having such a physical device is actually a good idea regardless.
You can be sure that anyone you see owning a Trezor has probably got crypto. Just a random dude with a computer not necessarily so /most probably not.

A physical attack against the device will always be possible with more or less complexity and cost of exploit. In this instance it was somewhat simple to extract the SRAM contents but anyway it required physical access to the device. It has since been hardened in newer firmwares.

If you are completely paranoid about your coins, just add a passphrase that will derive the stored keywords into a completely different private key which is NOT stored any where in the device. No physical attack possible in that case.

Also, there is no need for anyone to see you own a Trezor, same as there is no need for anyone to know you have paperwallets stored somewhere in your premises.

[vroom]

Wow! Great story. !!

https://www.wired.com/story/i-forgot-my-pin-an-epic-tale-of-losing-dollar30000-in-bitcoin/

So if this is true then it's possible to hack/crack a Trezor?
   

I'm not so sure having such a physical device is actually a good idea regardless.
You can be sure that anyone you see owning a Trezor has probably got crypto. Just a random dude with a computer not necessarily so /most probably not.

They fixed that hole in f/w ver. 1.5.2. As for the potential for future holes, it's always going to be there. It's still far better than a paper wallet though. With a paper wallet everything is out in the open, just a photo of your private key QR code and your coins are lost. With a TREZOR a thief needs to jump through many hoops to have some hope of getting to your keys. It took that guy 1.5 years to get access to his coins.

I'm very happy with my ledger nano s. It would wipe the device after the 3rd failed PIN attempt. Also there is no known exploit (fixed or unfixed) right now unlike trezor

[PORN_coin]

I can assume that everyone thinks that the rate will be above 6000

[European Central Bank]

I'm very happy with my ledger nano s. It would wipe the device after the 3rd failed PIN attempt. Also there is no known exploit (fixed or unfixed) right now unlike trezor

i'm wondering why the trezor gets so much more bad publicity than the ledger. there must be exploits but you never hear about them. either they're killing hackers off or it is the perfect device.

[AlcoHoDL]

Wow! Great story. !!

https://www.wired.com/story/i-forgot-my-pin-an-epic-tale-of-losing-dollar30000-in-bitcoin/

So if this is true then it's possible to hack/crack a Trezor?
   

I'm not so sure having such a physical device is actually a good idea regardless.
You can be sure that anyone you see owning a Trezor has probably got crypto. Just a random dude with a computer not necessarily so /most probably not.

They fixed that hole in f/w ver. 1.5.2. As for the potential for future holes, it's always going to be there. It's still far better than a paper wallet though. With a paper wallet everything is out in the open, just a photo of your private key QR code and your coins are lost. With a TREZOR a thief needs to jump through many hoops to have some hope of getting to your keys. It took that guy 1.5 years to get access to his coins.

I'm very happy with my ledger nano s. It would wipe the device after the 3rd failed PIN attempt. Also there is no known exploit (fixed or unfixed) right now unlike trezor

The Ledger Nano S is a good choice. But this thing you mentioned about the device wiping itself after the 3rd failed PIN attempt would have me worried... What if you temporarily can't recall the PIN and you've lost the seed? You'll then lose access to your coins forever, even if you later remember the PIN. If that guy in the Wired story had a Ledger Nano S he would have lost access to his coins forever. I think the way TREZOR deals with the PIN is smarter and gives the owner the chance to try several times, with a geometrically increasing delay between retries, to the point where at some point it essentially locks him out.

[European Central Bank]

What if you temporarily can't recall the PIN and you've lost the seed?

then you're stupid and you deserve to lose the coins. you shouldn't put one satoshi into it until your seed is backed up to hell and back.

[AlcoHoDL]

What if you temporarily can't recall the PIN and you've lost the seed?

then you're stupid and you deserve to lose the coins. you shouldn't put one satoshi into it until your seed is backed up to hell and back.

Well, the part about backing up the seed I fully agree with, but temporarily forgetting the PIN can happen, even to the smartest people.

[vroom]

I'm very happy with my ledger nano s. It would wipe the device after the 3rd failed PIN attempt. Also there is no known exploit (fixed or unfixed) right now unlike trezor

The Ledger Nano S is a good choice. But this thing you mentioned about the device wiping itself after the 3rd failed PIN attempt would have me worried... What if you temporarily can't recall the PIN and you've lost the seed? You'll then lose access to your coins forever, even if you later remember the PIN. If that guy in the Wired story had a Ledger Nano S he would have lost access to his coins. I think the way TREZOR deals with the PIN is smarter and gives the owner the chance to try several times, with a geometrically increasing delay between retries, to the point where at some point it essentially locks him out.

That's true. if PIN and seed are lost, the coins on the device can not be recovered. I hope ledger will release an update and let the user chose his preferred type of PIN security.

[vroom]

What if you temporarily can't recall the PIN and you've lost the seed?

then you're stupid and you deserve to lose the coins. you shouldn't put one satoshi into it until your seed is backed up to hell and back.

Well, the part about backing up the seed I fully agree with, but temporarily forgetting the PIN can happen, even to the smartest people.

if you forget the pin, recover the device with your seed and chose a new pin 

[AlcoHoDL]

What if you temporarily can't recall the PIN and you've lost the seed?

then you're stupid and you deserve to lose the coins. you shouldn't put one satoshi into it until your seed is backed up to hell and back.

Well, the part about backing up the seed I fully agree with, but temporarily forgetting the PIN can happen, even to the smartest people.

if you forget the pin, recover the device with your seed and chose a new pin 

Well, this is an advantage of the Ledger (stricter security), so long as one makes absolutely sure he can have access to the seed (which he/she should). TREZOR gives you a few more chances (for a while), then shuts you out.

[AlcoHoDL]

I want to post a CCMF meme, but can't (because of the slight drop).

Come on BTC...

[Arriemoller]

It always works: I sell a bit-dime and the price skyrockets as a result.

Maybe I should start a donation wallet: Donate bitpennies to me, I'll sell it, and the price will skyrocket as a result.

Thoughts?

For me it's the opposite, every time I buy the price goes down.

[vroom]