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

[Phil_S]

Karen from Chavington lol 

[1714895400]

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[Dabs]

Well doh... seed phrase is supposed to be secure in the first place. It's essentially the private key to all your private keys, or whatever addresses correspond to that seed.

Keep that stainless steel bolt and nut safe.

12-word seed phrases do seem secure unless (a) there are flaws in the implementation that reduce entropy such as the pseudorandom number generator, (b) attacker knows something about your phrase or (c) there is a quadratic improvement in computing power such as with quantum computers.

Interesting point, Bitcoin's private keys are 256-bit - was Satoshi just wasting space?

edit (again): So, Bitcoin's private keys have 128 bits of security when the public key is known, e.g. you're reusing an address, and 160 bits when they're unspent - https://bitcointalk.org/index.php?topic=1523431.msg15324846#msg15324846.

Yeah, I do think that is all true.

Which is why, I don't necessarily update to the latest versions of anything unless it was announced as a major vulnerability or incident.

Most decent wallets that have been up and running for several months have good implementations, and as long as it's not the very first generated wallet on a computer that was not just turned on minutes ago ... meaning you let it run for a good while doing something else so the RNG can pick up stuff ... you should be good to go.

As well as the usual OPSEC and other good or best practices: offline, generate a few test wallets, try them, move around some coins, then create a brand new one for your cold storage and test it a few times that it generates the exact same address or can be recovered, and if using hardware wallets do the equivalent of a hardware reset or reformat or update the firmware after having bought it directly from the manufacturer opening a sealed package.

Corn and it's software are redundant and maybe overkill in terms of bitness. No one is quickly brute force cracking 90 bit pseudorandomly generated keys, let alone 128, 160 or 256 bits.

As mentioned in that thread, why spend decades cracking a key that may contain a few corns, when you can spend a few years mining and get more corns more consistently that way? (and if you're not mining with the latest hardware, just buy the corns today and lock them up for tomorrow.)

[LFC_Bitcoin]

50% to 200% price rise in the coming months? That will do just fine

[UnDerDoG81]

Hahah Bitcoin folks smashed her https://twitter.com/ecb/status/1293447787863040001?s=21
Ban incoming?

Edit: I guess I am 2 days late lol

[rdbase]

Karen from Chavington lol  

I dont know why I see Amy Schumer's face in every karen.
I guess she has that karen type mannerism and style of talking to people in public.. so condescending.
https://www.youtube.com/watch?v=EA6zIc3NgUI
The one out in the wild at 2 minutes looking in the driver's window looks exactly like her.

In other meaningful news.

https://twitter.com/barrysilbert/status/1293882537492840449
Pump it up Novo!

[cAPSLOCK]

You guys got the 12 word seed thing part wrong.

Short version:
12 words is like 128 bits (2048^12 = 2^132)
24 words is like 256 bits

Long version:
https://en.bitcoin.it/wiki/Seed_phrase
https://www.reddit.com/r/Bitcoin/comments/6twuj1/are_12word_seeds_for_bitcoin_private_keys_secure/

There was some nuance to the question that sort of took it in a particular direction.

The discussion started after someone posted a picture of a cool bolt/wingnut/washer mnemonic device.  And the question was how long would it take to put 24 (or 12) words into the right order.

12 vs 24 from the dictionary of 4096 words?  Both quite secure.  But if you had the 12 washers and did not know the order, doable with enough CPU power to run the permutations.  24? Not so much.

So I think we were talking about different parts of the elephant.

[cAPSLOCK]

https://twitter.com/hodlonaut/status/1293833469907349505

If anyone else is ever sued by him, they would be justified in asking the court to take a deposit in advance against fees in case of default.

I find him slightly less appealing than an anal wart.

Wow.  You like him a lot more than me.

[acegilz]

Amazing days for crypto!
I expect bitcoin and eth to hit ATHs very soon

[Last of the V8s]

Someone inquired about my #bitcoin exit strategy. I said the exit occurred in the front end. It is a fiat exit.

https://twitter.com/eprefon/status/1294226091700293632

[JayJuanGee]

Amazing days for crypto!
I expect bitcoin and eth to hit ATHs very soon

You appear to be lost kind sir or kind madaam.   

[Last of the V8s]

[Torque]

Someone inquired about my #bitcoin exit strategy. I said the exit occurred in the front end. It is a fiat exit.

https://twitter.com/eprefon/status/1294226091700293632

Let's say that real inflation is running much higher than reported numbers, let's say conservatively it's closer to 6%/year. That's 1.5% per quarter (every 3 months).

So if you are in fiat for just 3 months, your opportunity cost (loss) is 1.5%. May not sound like much, but guess what, now your investments have got to make back 1.5% MORE in the remaining 9 months, on top of the 4.5%, just to stay EVEN with inflation. That's not even growing your wealth, that's just trying not to have wealth destruction.

People are incurring wealth destruction by staying in fiat, and they don't even realize it.

#getthefuckouttafiat #buybitcoin

[Toxic2040]

You guys got the 12 word seed thing part wrong.

Short version:
12 words is like 128 bits (2048^12 = 2^132)
24 words is like 256 bits

Long version:
https://en.bitcoin.it/wiki/Seed_phrase
https://www.reddit.com/r/Bitcoin/comments/6twuj1/are_12word_seeds_for_bitcoin_private_keys_secure/

There was some nuance to the question that sort of took it in a particular direction.

The discussion started after someone posted a picture of a cool bolt/wingnut/washer mnemonic device.  And the question was how long would it take to put 24 (or 12) words into the right order.

12 vs 24 from the dictionary of 4096 words?  Both quite secure.  But if you had the 12 washers and did not know the order, doable with enough CPU power to run the permutations.  24? Not so much.

So I think we were talking about different parts of the elephant.

--------
its going to be a good weekend imo   #dyor
1h snapshot

#stronghands

[BobLawblaw]

Looks like number going up some more.

[Indymoney]

Looks like number going up some more.

Feeling now we are going again for $12K in few hours.

[acegilz]

Amazing days for crypto!
I expect bitcoin and eth to hit ATHs very soon

You appear to be lost kind sir or kind madaam.   

how can you be so bearish? 

[AlcoHoDL]

I'm no expert in predicting the future (who is?), but observing recent Bitcoin price action, and the ease of crossing the 10,000 € boundary multiple times, give me a strong indication/gut feeling that we are in the beginning of a MEGA pump of stratospheric proportions.

Brace yourselves. 6 digits coming soon.

-- CCMF & Carolina memes by the end of 2020,
-- WO Dick Pic Buffet on May 12th, 2021.

[reliable]

Looks like number going up some more.

Feeling now we are going again for $12K in few hours.

It’s going to be a good start to the weekend for sure. Already bracing up with the Friday fever and Bitcoin climbing it’s just a perfect way to enjoy the beer with some snacks with it. Let’s wait and see if it can just cross 12k or moves higher than this as well and move till 12.5/13k too.

[infofront]

New poll!

Old poll:

[infofront]

Someone inquired about my #bitcoin exit strategy. I said the exit occurred in the front end. It is a fiat exit.

https://twitter.com/eprefon/status/1294226091700293632

Wife material