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

[xhomerx10]

img

Dude.

I think I preferred the political posts over this one... W.T.F.

 Dammit I missed it!  What was it!?

[lightfoot]

Which goes to show that Bitcoin needs to be taken very seriously. "Be your own bank" is tough. If you're not organized, not backing up your stuff, not taking such things seriously, Bitcoin's going to bite you in ways you never expect. It's going to mess with your head and even drive you insane. Same goes for any of us. Remember to always safely keep backups of your paper wallets and seeds, and make sure you clearly remember your passphrases and PINs. Periodically check to verify that you actually have access to your coins, this will refresh your neurons. Keep your keys away from online devices. Never take your PC/mobile to the repair shop when you have crypto in it (which you shouldn't have in there anyway).

Indeed. The concept of "bit rot" is a problem, as is finding tools to be able to read older media. Try finding a 7 track magnetic tape drive :-)

After so many years of being buried under so much organic garbage, the chances of him finding the HDD and being able to extract the data are very slim. Still, an HDD is supposed to be a sealed container, although I believe there's usually a "breather" hole somewhere on the case, don't know what it's for, maybe to equalize pressure. If that's the case, and garbage juices and moisture got in though that, it's pretty much gone I guess...

Yeah, possibly. It certainly would not be an easy recovery but 250 million allows a lot of tools to work on it.

$250 million is a lot of money though, and can get things moving. If he manages to find the HDD, he should pledge to give a very generous percentage of that to anyone who can extract the wallet.

Good luck to him, he's going to need it, especially if he's unsuccessful.

And that is a big problem with this thing and the IronKey item: Anyone attempting recovery would know that a slip or error would result in wiping a quarter of a billion dollars of value off the earth, with the resulting "unhappiness" of whatever syndicate was funding the job. Forever you would have the question "maybe he got the key and is just not telling us" hanging over your head. (Yes, you could always check the public balance, but still people get weird when serious $$$ is on the line)

Even a simple task like replacing a USB port on a Trezor would be exceptionally complicated with that much $$$ on the line. It would be like walking a curb next to a street vs walking a curb over a river of lava.

[xhomerx10]

https://www.youtube.com/watch?v=LsAiCs66l40

 That right there is some niche music for sure.  How long did those guys live in their parents' basements before they ventured out on their own?

[BobLawblaw]

Dammit I missed it!  What was it!?

One dude finishing on another dudes face, uncensored.

[xhomerx10]

Dammit I missed it!  What was it!?

One dude finishing on another dudes face, uncensored.

 Well then, no wonder a cleanup was required.

[lightfoot]

Nice. Still the problem with more current drives is the extreme data density in comparison to previous generations and thus the low tolerances during the process. In practise you would probably need to scan all the whole platters anyways as you don't really know where the file is and also the raw data might have been written over several ones in paralell to increase read/write speed (or so I assume).

True, and you're not going to get the data off with a simple Rpi, but the concept should still work. The company I mentioned recovers data from crashed drives all the time for $1k or so, they'd be able to give it a good go.

The reason I think the Ironkey guy has a better chance is mostly because a) He already has the device b) It is not damaged and c) the guy (presumably) already has enough money to fund the costly effort.

As for the technique, I was thinking about maybe using a SEM to recover either the "access password" or the internal encryption key + separately dump the flash memory (which I assume is a regular one). Something like this:

https://www.cl.cam.ac.uk/~sps32/cardis2016_sem.pdf

Possible. Some of these devices do have anti-tamper that will shatter the chip if you try to pry it or stuff like that. Still we're taking a budget of ~100 million to crack it which is well within the above paper's recommendation of "just buy a fucking ion mill and 3d the state of the chip". The fact he hasn't done something like this makes me wonder if it's all a bullshit story.

P.S.: Or maybe just dump the contents of the main flash chip and try to brute force the encryption key IF it is derived from the "access password".

I'm guessing the anti-tamper options will limit this. Then again even if the device is set back to zero there might be residual info to reconstruct the data. This is why the military grade ones literally explode. We are talking a budget of 100m to break it, and every safe is rated not to keep your data secure forever but as a function of "time and tools". He should at least be able to get to the "copy the data and brute the key" level with current tech.

[LFC_Bitcoin]

[d_eddie]

36k is the new 12k?

[ssmc2]

(...)
But insurance will never cover the value of all the assets. Custody with insurance is a scam

Not saying you're wrong or right. Just wondering why you state this as a fact.

Well if done like bank accounts it would have a limit of 250,000 usd value.

But you would get that. I would argue it is better than btc in a wallet. If they set it up like a bank setups up a cash account.

And the key here is they'll be paying interest to hodl our precious coins. It's a win-win.

[Chrystora123]

When Bitcoin marches up to the expected and unstoppable stratospheric levels of 2021-2022, everyone that knows about it will go insane.

Both coiners and nocoiners.

For different reasons.

HoDL.

#all we need is love HODL

[d_eddie]

(...)
But insurance will never cover the value of all the assets. Custody with insurance is a scam

Not saying you're wrong or right. Just wondering why you state this as a fact.

Well if done like bank accounts it would have a limit of 250,000 usd value.

But you would get that. I would argue it is better than btc in a wallet. If they set it up like a bank setups up a cash account.

And the key here is they'll be paying interest to hodl our precious coins. It's a win-win.

Likely interest is in fiat though. And I'd want to make sure such deposits are guaranteed by the bank security fund as if it were fiat... but at nominal crypto value. Otherwise, there could be several Gox like episodes.

[psycodad]

Dammit I missed it!  What was it!?

One dude finishing on another dudes face, uncensored.

 Well then, no wonder a cleanup was required.

Unfortunately, the internet never forgets (at least Loyce doesn't):

https://loyce.club/archive/posts/

/me bravely resisted temptations to post the direct link

[LFC_Bitcoin]

[El duderino_]

Actually I remember 6months to a year pre halving, that you said ... the halving will have no impact, nothingburger, between comrades... at that time? You truly thought so? I’m curious 

[JayJuanGee]

Some Titter analysts calling the top now.
I am still bullish and stay by the predictions of the tarot lady.
#hodl

Local top or what?

Still looking pretty damned bullish and ongoing UPpity price pressures to me - especially we keep getting back to the top of the range... so a little strange to either be calling the top or hopening for the top, given the total situation and context that we seem to be in.

I will concede that even the stock to flow model and the four year fractal... and possibly even the various exponential s-curve adoption models seems to show that the current BTC price is a wee bit ahead of itself, but so fucking what?  Since when has king daddy conformed with chartalism expectations?

[Evilish]

A lot of sideways movement past few hours. Things don't look very good in short term.



While moon is the most favorable outcome for most of us, a flash crash is welcome too because then we could put some more of that dirty fiat to good use.

Obligatory song to vibe to no matter the outcome: https://www.youtube.com/watch?v=_PXU0thDHCU

[strawbs]

And that is a big problem with this thing and the IronKey item: Anyone attempting recovery would know that a slip or error would result in wiping a quarter of a billion dollars of value off the earth, with the resulting "unhappiness" of whatever syndicate was funding the job.

The value will still remain but it will be distributed amongst all of us hodlers instead, as the more bitcoins are lost, the lower the supply, so the higher the value of each remaining btc  

And of course there will be even fewer than 21m if people keep throwing them to the bottom of landfill sites.

[BitcoinGirl.Club]

Good afternoon WO!
Observing @ $36,960

[OutOfMemory]

Some Titter analysts calling the top now.
I am still bullish and stay by the predictions of the tarot lady.
#hodl

Local top or what?

Still looking pretty damned bullish and ongoing UPpity price pressures to me - especially we keep getting back to the top of the range... so a little strange to either be calling the top or hopening for the top, given the total situation and context that we seem to be in.

I will concede that even the stock to flow model and the four year fractal... and possibly even the various exponential s-curve adoption models seems to show that the current BTC price is a wee bit ahead of itself, but so fucking what?  Since when has king daddy conformed with chartalism expectations?

Damn right.
Looks like Titter folks are in a rush, expecting BTC upswing to accelerate. If no acceleration -> fail.
And this perfectly fits the shitcoin society, where these fast pumps happen on a regular basis (followed by huge dumps, as we know).
We were in fact accelerating a bit too much, so things have to settle down a bit, and this is something the shitters don't commonly know.

I already bought (near) the dip a few days ago and i'm satisfied, because most of that value from shitcoin pumps will flow back at Bitcoin soonish, possibly also later.
Do we really care?  

EDIT:
I was up to spam WO with a nice alpine panorama pic from the drone, so i got out late afternoon to let the thing take off from an elevated spot between mountains.
Almost deep freezing my toes, i went home to check the results, where i found the memory card lying on the shelf 
So no landscape spam from me today...

[yefi]

There was nothing there to be unseen anyway.  It likely has more to do with the fact that the EU has the best animal protection and welfare laws in the world.  They wouldn't want you people getting any ideas about horses... other than eating them after they were humanely raised in captivity and euthanized for your nutritional requirements.

When put like that, it does sound ridiculous. But now I'm not sure if one should stop eating meat or start fucking animals.