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Question: What happens first:
New ATH - 43 (69.4%)
<$60,000 - 19 (30.6%)
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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26371048 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (174 posts by 3 users with 9 merit deleted.)
Chalkbot
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September 05, 2013, 10:32:55 PM
 #29621

I'm one of the "select few" and I'll tell you. With the help of Sherlock Holmes, we've assembled a crack team who can break substitution cyphers in a matter of days, sometimes hours!

Think twice before encrypting your critical data with your secret decoder ring.


I really can't tell if you guys actually believe the FUD you are posting or if you are legitimately confused about how encryption, and more specifically, bitcoin work.
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rolling
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September 05, 2013, 10:37:11 PM
 #29622

SHA 256 was developed by the NSA and the article says they developed encryption they could break.  Why would they develop encryption they couldn't break?  So, if they can hack it or have a back-door, someone else may figure out a way.

http://en.wikipedia.org/wiki/Secure_Hash_Algorithm
http://en.wikipedia.org/wiki/SHA-2
http://en.wikipedia.org/wiki/National_Security_Agency
Walsoraj
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September 05, 2013, 10:39:03 PM
 #29623

I'm one of the "select few" and I'll tell you. With the help of Sherlock Holmes, we've assembled a crack team who can break substitution cyphers in a matter of days, sometimes hours!

Think twice before encrypting your critical data with your secret decoder ring.


I really can't tell if you guys actually believe the FUD you are posting or if you are legitimately confused about how encryption, and more specifically, bitcoin work.

Anything that relies on AES encryption is compromised. Don't give me "yea but 256 takes so much longer to brute force than 128 bit" blah blah. If the US Gov has an unprecedented method to speed up brute force of 128 bit, they can surely use it on 256 bit.

*edit* re encrypting wallets ^
adamstgBit
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September 05, 2013, 10:43:10 PM
 #29624

wow the FUD is everywhere
telemaco
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September 05, 2013, 10:43:23 PM
 #29625

I'm one of the "select few" and I'll tell you. With the help of Sherlock Holmes, we've assembled a crack team who can break substitution cyphers in a matter of days, sometimes hours!

Think twice before encrypting your critical data with your secret decoder ring.


I really can't tell if you guys actually believe the FUD you are posting or if you are legitimately confused about how encryption, and more specifically, bitcoin work.

Anything that relies on AES encryption is compromised. Don't give me "yea but 256 takes so much longer to brute force than 128 bit" blah blah. If the US Gov has an unprecedented method to speed up brute force of 128 bit, they can surely use it on 256 bit.

*edit* re encrypting wallets ^

As soon as you are using a computer now a days there is a big chance that they can easily track you or get anything they want from you.

- Intel new chips can be controlled remotely
- Windows (high percent of computer installed OS) is absolutely infiltrated by NSA. They even have an office in the NSA building
- IOs & Android and now Microsoft wants to buy Nokia. They know everything they need about you and more (usage, pictures, messages, phone talks, whatsapp)
- Watches is the next step, just in case you forget to take your mobile with you. If you don't use watches, in the near future there will be glasses everywhere. What are you going to do wear a mask in your neighbourhood?.
- Password software like lastpass is located in US. They say in their forums that they have not been requested by the US goverment to install anything "strange" on their software but based on US law, they cannot say anything in case they were infiltrated. They say everything is encrypted on your machine, but just a rogue patch from them and they can change it in 5 minutes (if they haven't already).
- Data in the cloud: Dropbox, Google Drive, Sugarsync, Box.net.  Online backup: crashplan and many others. Maybe only wuala in switzerland is encrypted and a couple other open source software.
- Even if it is open source there might be a possibility that it is infiltrated. Look at tor where their code had a leak and even knowing it. It took days to decipher the open code due to it's complexity.
- If you are printing a paper wallet, think about it. Do you have one of those wifi printers with cloud printing? Do you think they won't get what you have just printed. Sure they will.
- Android encryption codes bugged (scandal about wallets/android from a couple of weeks ago). I would bet they did it knowingly.
- They scan every single snail mail through united states.
- They are even asking the webmasters to disclose users passwords to their webpages for security reasons.
- In top of that huge huge brute force power, mathematicians and infinite budget.
- Most security methods also rely on certification companies around the world. Using those you can prepare attacks in the middle. Who controls them?


So if you are using a computer, it is highly unlikely that you are not vulnerable multiple times. There is an interesting book from Assange -> Cypherpunks if interested on this.


http://prism-break.org/
thoughtfan
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September 05, 2013, 10:45:42 PM
 #29626

SHA 256 was developed by the NSA and the article says they developed encryption they could break.  Why would they develop encryption they couldn't break?  So, if they can hack it or have a back-door, someone else may figure out a way.

http://en.wikipedia.org/wiki/Secure_Hash_Algorithm
http://en.wikipedia.org/wiki/SHA-2
http://en.wikipedia.org/wiki/National_Security_Agency

I'm sure this must have been posted before but the sensationalist and water-muddying articles in the mainstream press of late keep concerning people so...

http://www.wired.com/opinion/2013/09/black-budget-what-exactly-are-the-nsas-cryptanalytic-capabilities/
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September 05, 2013, 11:16:40 PM
 #29627

So remember when I said I was contacted by eBay and everyone had a good laugh and called bullshit? Well this was on reddit;
http://pages.ebay.com/sellerinformation/growing/categorychanges/coins.html
Scroll to the very bottom;
September 2013 new addition Virtual Currencies
"The full list of the category changes & their corresponding category number can be found by clicking on the category links below. These changes will be live in mid September."
miningnew
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September 05, 2013, 11:23:56 PM
 #29628

Wow is these for sure?
Walsoraj
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September 05, 2013, 11:27:46 PM
 #29629

This is my favorite slide:

spooderman
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September 06, 2013, 12:05:46 AM
 #29630

Dude.....this guardian article......
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September 06, 2013, 12:34:07 AM
 #29631

SHA 256 was developed by the NSA and the article says they developed encryption they could break.  Why would they develop encryption they couldn't break?  So, if they can hack it or have a back-door, someone else may figure out a way.

http://en.wikipedia.org/wiki/Secure_Hash_Algorithm
http://en.wikipedia.org/wiki/SHA-2
http://en.wikipedia.org/wiki/National_Security_Agency

Because they need encryption themselves? Can you really not think of any reasons?
ArticMine
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September 06, 2013, 04:01:02 AM
 #29632

This is my favorite slide:



So the message here is (since this is the speculation forum): NSA has cracked Bitcoin, therefore one should sell.
bobdude17
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September 06, 2013, 04:29:38 AM
 #29633

So remember when I said I was contacted by eBay and everyone had a good laugh and called bullshit? Well this was on reddit;
http://pages.ebay.com/sellerinformation/growing/categorychanges/coins.html
Scroll to the very bottom;
September 2013 new addition Virtual Currencies
"The full list of the category changes & their corresponding category number can be found by clicking on the category links below. These changes will be live in mid September."

Speaking of which, no reply from John K yet. His profile does say that he is having a busy week.
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September 06, 2013, 04:36:59 AM
 #29634

This is my favorite slide:



So the message here is (since this is the speculation forum): NSA has cracked Bitcoin, therefore one should sell.

--- http://www.cbc.ca/news/world/story/2013/09/05/world-nsa-cryptography.html
During a Web chat organized by the Guardian on June 17, Snowden told one questioner that "encryption works." Snowden said that "properly implemented strong crypto systems" were reliable, but he then alluded to the NSA's capability to crack tough encryption systems. "Unfortunately, endpoint security is so terrifically weak that NSA can frequently find ways around it," Snowden said.

It was unclear if Snowden drew a distinction between everyday encryption used on the Internet -- the kind described in Thursday's reports -- versus more-secure encryption algorithms used to store data on hard drives and often requires more processing power to break or decode ---
NamelessOne
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September 06, 2013, 04:49:54 AM
 #29635

So remember when I said I was contacted by eBay and everyone had a good laugh and called bullshit? Well this was on reddit;
http://pages.ebay.com/sellerinformation/growing/categorychanges/coins.html
Scroll to the very bottom;
September 2013 new addition Virtual Currencies
"The full list of the category changes & their corresponding category number can be found by clicking on the category links below. These changes will be live in mid September."

I think everyone's too busy jumping to conclusions about the NSA...  Grin


Anyway, I think it's great that ebay/paypal decided to embrace it. I'm not all that surprised, really. Yeah, paypal might be evil and bitcoin is definitely a threat to them but it's also an opportunity to evolve and I think they realize that. Being irrational and fighting bitcoin to the very end is something that's mostly going to be reserved to the banks, imo.

I don't think this NSA thing will lead to much, at least those are my thoughts at the moment. Snowdon had some serious information  and he did say that encryption DOES work, just not all of it, only the best works. Bitcoin is the best.
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September 06, 2013, 04:57:40 AM
 #29636

i would be more likely to believe that they created bitcoin so they could have a cloud of SUPER powerful computers breaking sha-2 encrypted data, non-stop 24/7, rather than believe they actually solved PvsNP
coolbeans94
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September 06, 2013, 05:01:25 AM
 #29637

10 Year Treasury Note is now at 3.01%: http://www.marketwatch.com/investing/bond/10_year

Can someone explain to me why this is really significant? What does this have to do with Bitcoin? I'm currently not seeing the relationship. Thank you.
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September 06, 2013, 05:03:00 AM
 #29638

10 Year Treasury Note is now at 3.01%: http://www.marketwatch.com/investing/bond/10_year

Can someone explain to me why this is really significant? What does this have to do with Bitcoin? I'm currently not seeing the relationship. Thank you.

it has nothing to do with bitcoin
it has to do with the fiat system falling apart
bitcoin will not be affected by this.


 Cheesy
adamstgBit
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September 06, 2013, 05:09:31 AM
 #29639

10 Year Treasury Note is now at 3.01%: http://www.marketwatch.com/investing/bond/10_year

Can someone explain to me why this is really significant? What does this have to do with Bitcoin? I'm currently not seeing the relationship. Thank you.

as i understand it

this mean you can buy a 10 year bond that will yield 3% a year, this is not a half bad ROI for a zero risk investment, this will drive people out of the riskier assets(like bitcoin) and stocks.

thats the theory anyway.

lets see what really happens tomorrow in a few hours.
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September 06, 2013, 05:24:01 AM
 #29640

10 Year Treasury Note is now at 3.01%: http://www.marketwatch.com/investing/bond/10_year

Can someone explain to me why this is really significant? What does this have to do with Bitcoin? I'm currently not seeing the relationship. Thank you.

This is a huge rabbit hole you are attempting to jump into.

The largest threat to rising interest rates is the derivative market which is almost entirely bets on the interest rates. If you think 1.5 billion dollar bitcoin market is large, try and wrap your head around a 500 trillion dollar interest rate derivative market.

http://en.wikipedia.org/wiki/Interest_rate_derivative
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