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

[OldGeek]

We starting a pool on the next update time frame from gox Friday 7pm Japan?

Do you mean a real update or the science fiction we've been getting?

[Davyd05]

We starting a pool on the next update time frame from gox Friday 7pm Japan?

Do you mean a real update or the science fiction we've been getting?

To be honest I consider it to be accurate ... just not timely..

[OldGeek]

To be honest I consider it to be accurate ... just not timely..

Okay.  Well, I can barely speculate on price.  Speculating on a release time would be difficult for me to do.

[Davyd05]

they've beenin the 7-9pm jpy time I believe in this time of crisis

[fluidjax]

OK, again, here is what I would do if I had to safely store several hundred thousand bitcoins that my clients gave me for safekeeping. 

First, I would create a dozen new addresses and distribute the bitcoins evenly among them.  I do not believe in trapdoor functions, and I know what NSA did to that random number generator; so I instead of any "modern" encryption I would use the old and guaranteed one-time-pad method. I would generate a file of truly random bits (say, extracted from the microphone signal), and XOR it with the private keys.  Then I would copy the result to a pen drive, check that the copy succeded, safely remove the pendrive (see, I learned my lesson!) I would repeat with a second pendrive and give it to my partner.  Then each of us would go to a different bank, on separate cars, and store his pendrive in a safe deposit box. Only then I would go back and reformat the hard drive of my computer.


Do I really need to add the "stupid smiley" here?)

And whats wrong with simply using Gox as a cold storage wallet exactly?

[F-bernanke]

And whats wrong with simply using Gox as a cold storage wallet exactly?

LOL 

[ChartBuddy]

Explanation

[Super T]

...ccmf?

[gizmoh]

Japanese policeman on protestors , asking license to protest..

http://www.ustream.tv/channel/mtgox-protest

Watch live now

[Davyd05]

Japanese policeman on protestors , asking license to protest..

http://www.ustream.tv/channel/mtgox-protest

Watch live now

bonkers!!!

I like his calmness in explaining his stance

[spooderman]

I feel like an awful troll for saying this, but am I the only one who feels no sympathy for the goxers? They had forever to stop using them, why did anyone have money in there?

[fluidjax]

Japanese policeman on protestors , asking license to protest..

http://www.ustream.tv/channel/mtgox-protest

Watch live now

bonkers!!!

I like his calmness in explaining his stance

"You need a licence to protest"... this simply makes me very angry. Good job he remained so calm.

[F-bernanke]

I feel like an awful troll for saying this, but am I the only one who feels no sympathy for the goxers? They had forever to stop using them, why did anyone have money in there?

I feel bad for them, even though most people knew they were to be avoided. I can't imagine how it must feel when you have a large amount coins trapped in fort gox.

[fluidjax]

I feel like an awful troll for saying this, but am I the only one who feels no sympathy for the goxers? They had forever to stop using them, why did anyone have money in there?

Because unlike you and me, they don't have the knowledge or people around to help them get their coins into somewhere safe.
I took my sisters and mothers coins out of Gox and into cold storage last year, many people weren't that fortunate. They simply didn't know any better.

[JCviggen]

I feel like an awful troll for saying this, but am I the only one who feels no sympathy for the goxers? They had forever to stop using them, why did anyone have money in there?

Many of them probably were trying to remove fiat for months, or had it otherwise stuck (US residents)
Because of the large premium price that Gox was carrying, many probably didn't want to take the hit of rebuying BTC and cashing out elsewhere.

Of course that's not to say that many, many people were not plain blind or gullible. I remember saying in september last year that Gox was a time bomb waiting to...implode.

[gambitv]

Read back through this thread and you see just as much venom shown to other exchanges.

 Its going to be interesting if gox does a Phoenix and price rebounds higher than ever.

[Rampion]

OK, again, here is what I would do if I had to safely store several hundred thousand bitcoins that my clients gave me for safekeeping. 

First, I would create a dozen new addresses and distribute the bitcoins evenly among them.  I do not believe in trapdoor functions, and I know what NSA did to that random number generator; so I instead of any "modern" encryption I would use the old and guaranteed one-time-pad method. I would generate a file of truly random bits (say, extracted from the microphone signal), and XOR it with the private keys.  Then I would copy the result to a pen drive, check that the copy succeded, safely remove the pendrive (see, I learned my lesson!) I would repeat with a second pendrive and give it to my partner.  Then each of us would go to a different bank, on separate cars, and store his pendrive in a safe deposit box. Only then I would go back and reformat the hard drive of my computer.


Do I really need to add the "stupid smiley" here?)

Wow, this is one of the most retarded things I've ever read. And no, its not funny.

Jorge, why are you trying so hard to embarass yourself? Is this your way to learn?

On a serious note: if you need to safely store bitcoins in an exchange-like setup were they also need to be readily available for withdrawal you just use a hot+cold wallet solution based on Armory. Full stop.

[Davyd05]

the goxing hour is upon us, an hour out and oddly it hasn't crashed in to double digits ... bodes well for Friday and Saturday

[electronistul]

Read back through this thread and you see just as much venom shown to other exchanges.

 Its going to be interesting if gox does a Phoenix and price rebounds higher than ever.

Already happening.
bitcoinbuilder will soon run out of business I just hope I manage to make one switch before they re-enable BTC withdrawals.

[ChartBuddy]

Explanation