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

[aysg76]

Bank of America approves trading for Bitcoin

I really feel witty about these cases and how does these banks change their statements witnessing growing demand for bitcoin among their clients.

Nearly 3 in 4 professional investors in Bank of America survey see bitcoin as a bubble.Some 74% of those who responded to the Bank of America Fund Manager Survey for April said they see bitcoin as a bubble.

Buying btc is like owing 60 cars

And we probably have a thread for this one on the forum.But see how time flies from bitcoin is scam to we accept or offer btc services,bitcoin has came a long way.

[JayJuanGee]

There are also known addresses with no private keys.

There are no addresses with no private keys.

Better formulation:  It hasn't been proved that there's an address that has no private keys. On average, each one has 2⁹⁶ different keys.

Not every peep in this thread recognizes and understands math an sciences, so each of you might need to 'splain ur lil selfies (referring to both of you, Dabs and BlackHatCoiner) a wee bit MOAR better, especially when you are devolving (or would it be evolving) into seemingly conclusory (and conclusive) math/science explanations.. as if showing a math formula were to serve as some kind of significant, meaningful and/or convincing proof of some kind of underlying truth to a vast majority of thread participant (can I say us?) normies...

Maybe Satoshi doesn't care about material wealth. Maybe for him it's all about contributing to the world. Maybe he has decided to "burn" those million coins, as a donation to all of us. You may think such things never happen, but they do.

Satoshi probably knows that now that Bitcoin is established moving those coins or taking them out for whatever expenses he has could put Bitcoin in jeopardy. Think about it they have not been touched for a while and then suddenly they move people would panic sell. Satoshi's coins right now are acting as a gift to the rest of the Bitcoin network making our coins more valuable in the long run.  

Stop spreading nonsense... If satoshi wants to spend some or all of his bitcoin, he can do it.. bitcoin gives no shits, even if there might be a price dip or whatever.. bitcoin is not going to die based on a million coins becoming liquid, if that were the case and even if they are all put on the market at once.. no one cares, even if the price drops.. who cares.. consider what is probable and what is likely and even think about how much nonsense even exists speculating that one entity (satoshi supposedly) would even want to put a million coins on the market at once or even in large chunks.... bitcoin is beyond satoshi by now, even in the event that satoshi either still lives and/or still were to have abilities to move or spend the coins that he mined.

[BlackHatCoiner]

Not every peep in this thread recognizes and understands math an sciences

I've recognized the Wall Observer before, but I didn't become mean. I just corrected his wording for the common good.

[JayJuanGee]

Not every peep in this thread recognizes and understands math an sciences

I've recognized the Wall Observer before, but I didn't become mean. I just corrected his wording for the common good.

Yeah, but if none of us (ok I may well be exaggerating a wee bit) understand the significance, then did you really say anything?


 

[Hueristic]

Mmkay, firing another 1000€ purchase. I can do this for a long long time, you crazy traders 

[Dabs]

There are also known addresses with no private keys.

There are no addresses with no private keys.

Better formulation:  It hasn't been proved that there's an address that has no private keys. On average, each one has 2⁹⁶ different keys.

There are the "zero" addresses, formed from a private key with all zeroes. This is often seen in altcoins / shitcoins where they publicly burn coins.

There are also the vanity looking addresses such as 1BitcoinEater: https://blockchain.info/address/1BitcoinEaterAddressDontSendf59kuE

It's never sent any coins, always just received them. Very unlikely anyone has the private key to that address, or might even be possibly no such private key can map to it. We do not know for sure, as like you said, it can not be proven. However, it is my opinion that the chances of anyone ever able to spend from that particular address is close to zero. Maybe 0.000000001% or something. Yes, there is a chance.

As far as I am concerned, it's impossible. Your definition of the word impossible may differ from mine. Normal usage of the word is usually hyperbole, but the meaning and intent is clear. It is impossible. Won't stop you from trying, but I'm sure you or anyone else will fail.

31h1vYVSYuKP6AhS86fbRdMw9XHieotbST
https://www.blockchain.com/btc/address/31h1vYVSYuKP6AhS86fbRdMw9XHieotbST

This address is unspendable. And this time I mean it in the correct sense of the word. It's a hash from zeroes. You can see coins sent to it, but never spent.

   Since addresses are encoded hashes, start with a hash, of which it would be nearly impossible to find the pre-image, e.g. assume a script hash of 0000000000000000000000000000000000000000. Encode that into a valid address:

bs58 -c 050000000000000000000000000000000000000000
31h1vYVSYuKP6AhS86fbRdMw9XHieotbST

Here is another address: 1CounterpartyXXXXXXXXXXXXXXXUWLpVr

Feel free to try and find out the private key to that one, as no one knows it. It was generated without knowing the private key, just an address. My use of the word impossible for this one just means very highly improbable.

[Hueristic]

Maybe Satoshi doesn't care about material wealth. Maybe for him it's all about contributing to the world. Maybe he has decided to "burn" those million coins, as a donation to all of us. You may think such things never happen, but they do.

What will happen if he really burnt the BTC under his ownership? 
Just asking for a friend.

The world would go into a full fledged hunt for him and he would never have a minute of peace because people are pieces of shit.

[Dabs]

https://www.blockchain.com/btc/address/1CounterpartyXXXXXXXXXXXXXXXUWLpVr

There's more than 2000 BTC in the Counterparty address, more than $60m USD. It's never going to move.

[BlackHatCoiner]

There are the "zero" addresses, formed from a private key with all zeroes.

There is no private key equal with zero, because that would be outside the secp256k1 range. If by “zero” address you mean the one that has its RIPEMD-160 zero (1111111111111111111114oLvT2), then it has the same chances of having 2⁹⁶ valid private keys. The fact that no one knows it doesn't mean that it doesn't exist.

Your definition of the word impossible may differ from mine.

I never said that word.

This address is unspendable. And this time I mean it in the correct sense of the word. It's a hash from zeroes. You can see coins sent to it, but never spent.

No, it's not the correct sense of the word. Read what you quoted:

it would be nearly impossible to find the pre-image

Yeah, but if none of us (ok I may well be exaggerating a wee bit) understand the significance, then did you really say anything?

Do you really consider this a valid argument? If none of you understood that the earth isn't flat, shouldn't I try to at least convince you that it's not?

[Richy_T]

¯\_(ツ)_/¯

[Greyhats]

All the talk and of coins and their era, can we do the next poll as where do most of your coins come from

[Dabs]

If none of you understood that the earth isn't flat, shouldn't I try to at least convince you that it's not?

Wait, the world isn't flat? Please explain.

[Richy_T]

Here's a thought experiment: Satoshi CPU mined coins in the first couple of years. Knowing that everything is visible on chain, and knowing so obviously that no one else was mining within the first few months, he know that all those blocks could be associated with him until there were enough other people mining blocks.

He continues mining, but as soon as there are others, he slowly moves some of those later mined coins to other addresses and keeps doing so every few months, leaving the entire first year (except the one he sent to Hal) untouched.

The early coins never move. The coins after a certain block or date have been moving every year since. ... 1m coins do not move. 100k or 10k move (around the same time or after the first pizza was bought) ... they keep moving once a year or so ... 1k is cashed out some time between then and now, the remaining 99k or 9k is still out there looking like everyone else.


Or it's quite possible none of the coins move at all too. Who really knows?

Yep. I'm sure, smart as he is/was, some of the implications were not immediately clear. He started out mining to a single address but I believe later he started going with a new address for each block. Certainly it's quite likely he has more than enough play money so it may not be possible to read anything into those early coins not moving.

[BlackHatCoiner]

He started out mining to a single address but I believe later he started going with a new address for each block.

Satoshi never reused any of his known addresses. Each time he solved a block, he used a different address.

[JayJuanGee]

Yeah, but if none of us (ok I may well be exaggerating a wee bit) understand the significance, then did you really say anything?

Do you really consider this a valid argument? If none of you understood that the earth isn't flat, shouldn't I try to at least convince you that it's not?

I suppose if you keep trying communicate with us not as smart peeps, at some point some of us might start to understand what you are saying, even if it happens to be in a different language.  Perhaps? Perhaps?

[ChartBuddy]

Explanation

[Dabs]

Yep. I'm sure, smart as he is/was, some of the implications were not immediately clear. He started out mining to a single address but I believe later he started going with a new address for each block. Certainly it's quite likely he has more than enough play money so it may not be possible to read anything into those early coins not moving.

I think the default was a different address per block mined. Certainly the first blocks all rewarded to different addresses. Block 2 looks like 1HODL ... hehe..

You could say, at the time of creation, he had enough play money to not need to touch coins at all in 2009 and 2010. Were he alive today, he probably still has enough play money in 2021.

It's like the Aliens... they are out there, ... we've just never seen one. (1 billion galaxies * 1 billion stars * some planets per / asteroids / rocks = lots of places where they could be living.)

My suspicions are that the closest smart aliens (or even dumb microscopic bacteria aliens) are at least a few thousand light years away, so we won't be seeing them for a while. Unless, maybe they are already here ... or were, and died out.

[Richy_T]

He started out mining to a single address but I believe later he started going with a new address for each block.

Satoshi never reused any of his known addresses. Each time he solved a block, he used a different address.

I must have been thinking of something else then. Thanks.

[Spaceman_Spiff_Original]

Beanie Baby Bitcoin going full tulips in the coming 18 months. Anybody still hodling or did you take Billy’s advice & dump those bags? The only use for your digital tokens is pedophile material & drugs online. Don’t get left holding your bags. Bitcoin going to $0.

weeeeeee

Is that you jonoiv?

Smells like lambchops.

[gembitz]

https://www.blockchain.com/btc/address/1CounterpartyXXXXXXXXXXXXXXXUWLpVr

There's more than 2000 BTC in the Counterparty address, more than $60m USD. It's never going to move.

who hold the private key? lol