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

[notme]

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

SHA is not an encryption algorithm.  It is a hash function.  You can't encrypt anything with any version of SHA.

[rampantparanoia]

Blackberry (a potential NSA^tm company) owns key patents for ecc. I wonder if they're prone to leverage?

[coolbeans94]

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

I am not completely ignorant: I have a background in banking and finance, and I understand about market caps and the derivatives markets, etc. I am just asking in the form of ELI5 in an attempt to really grow my understanding. A lot of people do not really understand what it is they are writing or talking about. GOOD EXAMPLE: Mainstream Media and news reporters. Anyone can give their opinion about a topic and present it as factual, yet you can always tell someone who doesn't know what it is they are writing or talking about because their topic of conversion always is slightly or grossly off the correct subject. I know a 1.5B market cap is a drop in the bucket...(I mean they are doing quantitative easing at 85B PER MONTH right now, not to mention all the other central banks around the world also printing money!) I love Bitcoin but the 1.5B cap compared to the 85B per month QE is infinitely small; plus you still have to add in all the commercial paper derivatives stacked on and building up on top of that...etc. etc.) Really, big finance and banks have everyone so deceived they don't really give a care about Bitcoin. People want Billions instantly, rather than wait for Bitcoin to go up a billion or two, or ten for that matter. They just build up a value and print the money for themselves out of thin air. Thank you, I digress.

[ShroomsKit]

Every time we go up a few dollars someone dumps right into it.

I think it's a good sign though that other people are not following.
It looks like it just wants to go up. People are buying.

[ChartBuddy]

[Rampion]

Funny to see how there is such a downward pressure when  Gox didn't solve yet its problems.

I always reported when the withdrawals came through fast, now I have to say I have been waiting exactly 2 weeks for a SEPA withdrawal and still nothing.

My guess is that if and when they solve their withdrawal problems there will be dumping.

[wopwop]

The ppl selling will be like 'oh shit I cant withdraw, I gotta buy again LULZ'

[samson]

The ppl selling will be like 'oh shit I cant withdraw, I gotta buy again LULZ'

No doubt, but I suspect people will wait until the price is right to buy.

For a lot of people (me included) there is no urgency to buy and I don't need to withdraw any fiat. Not now, not ever.

It's Bitcoin money as far as I'm concerned and probably will be for years to come.

[xxjs]

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.


 

I like this indicator. The mainstream still regards the bonds as absolutely safe, so they try to assign reasons for the hike to the prospect of tapering, and the reason for that again the glorious econonomy. I call this reasoning really a stretch. It is not evident that there is a growing economy at all, and the QE logical step in between is heavily influenced by a single person. On the other hand I base my thoughts on that the bonds are not really safe and that the mighty Fed is not mighty enough to in fact regulate those yields, that is, the yield rise may be the result of the market believing less and less that the bonds are safe.

The reaction from the Fed could be anything, remember their actions are based on a flawed economic theory. I would not be surprised if they accelerate the QE. You know, "let's jump start this economy". They could also turn on the dime and decide that QE is too risky. Who knows.

[ChartBuddy]

[ChartBuddy]

[ChartBuddy]

[crumbs]

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 ^

You kids have to start thinking outside the box.  Me & my cryptobuddies at NSA have been cracking SHA256 way before it hit mainstream. 
Mechanically

[telemaco]

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 ^

You kids have to start thinking outside the box.  Me & my cryptobuddies at NSA have been cracking SHA256 way before it hit mainstream.  
Mechanically

What if the next release from Greenwald is that NSA indeed can crack bitcoin?
What would that mean? the ability to get any private key when they want?

Ultra-crash? China, Russia and most countries around recommending not to use bitcoin?

Not only that the US NSA has the slightest sense of respect for their constitution or the rights of others or that even if bitcoin cannot be cracked they are probably keylogging us to hell.
Russians are relying more and more on paper for their secret affairs due to the insecurity of computers.

Should the people of the world rely their savings on something that can be corrupted/cracked/keylogged by design?

Really discouraging news about the NSA. Really sad. I have loved computer industry for 30 years and now it is like i want to vomit of what they are doing.

[ChartBuddy]

[ChartBuddy]

[Miz4r]

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 ^

You kids have to start thinking outside the box.  Me & my cryptobuddies at NSA have been cracking SHA256 way before it hit mainstream. 
Mechanically

What if the next release from Greenwald is that NSA indeed can crack bitcoin?
What would that mean? the ability to get any private key when they want?

Ultra-crash? China, Russia and most countries around recommending not to use bitcoin?

Not only that the US NSA has the slightest sense of respect for their constitution or the rights of others or that even if bitcoin cannot be cracked they are probably keylogging us to hell.
Russians are relying more and more on paper for their secret affairs due to the insecurity of computers.

Should the people of the world rely their savings on something that can be corrupted/cracked/keylogged by design?

Really discouraging news about the NSA. Really sad. I have loved computer industry for 30 years and now it is like i want to vomit of what they are doing.

If they can crack bitcoin they can also crack any bank account and your savings won't be safe anywhere. I doubt that is the case though.

[ChartBuddy]

[rampantparanoia]

Really discouraging news about the NSA. Really sad. I have loved computer industry for 30 years and now it is like i want to vomit of what they are doing.

Agreed. Makes me want to switch careers to something more humane.

[Walsoraj]

Trust in Numbers? No thx bitcoin. We haz lost the war of mathematics.