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

[cygan]

The revived crypto bill from McHenry and Torres would address that and also go further by sharply limiting the federal government’s ability to define what a “digital asset” is. The IIJA gave the Treasury Department broad discretion to define crypto, and the Keep Innovation in America Act would limit that power

https://punchbowl.news/archive/3723-punchbowl-news-am/

you can view the full draft law here:
https://punchbowl.news/wp-content/uploads/MCHENR_KIA.pdf

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[dragonvslinux]

Interesting read. I'd say vroom is not correct here, exposing your public key does not mean quantum computers can crack private key. At least that's not what the article is about.

(Please provide source if this is the case).

https://www.tomshardware.com/news/quantum-computer-development-could-put-bitcoin-security-at-risk-by-the-2030s

That's not a source to what you're claiming. This is speculating that in the future quantum computers could crack private keys, this is also nothing new.

I knew, that quantum computers can crack the private key, if the public key is known.

So quantum computers could, theoretically, crack private keys in the near future. You said they can, but there is no evidence of this, only theory.

With this attack they don't need quantum computers anymore.

You're also confusing the two vulnerabilities here, considerably.

One is based on nonce reuse, that out of 424m public addresses, only managed to crack 773 addresses (less than 0.0002% of all addresses).  The idea with quantum computers has nothing to do with nonce reuse, but brute forcing SHA256 private keys (as far as I understand). If successful, that would theoretically mean 100% of addresses are at risk, as opposed to 0.0002%, and a soft fork would be needed.

So to say quantum computing isn't needed anymore to crack a private keys, is clearly complete nonsense. The point with the 773 addresses hacked is that the damage has more or less already been done (mostly years ago), with the exception of maybe around 50 addresses per year getting hacked, from people not using secure software or safe practices predominantly.

So for example, all wallets with unspent outputs - or even just 1 output, as referenced attack requires 2+ outputs minimum, but realistically 4+ - currently have no vulnerabilities.

[Lainta]

🇨🇳 China is able to put an expiration date on its digital yuan, forcing people to spend and not allowing them to save.

CBDC’s are slavery, #Bitcoin    is freedom

https://twitter.com/BitcoinMagazine/status/1632803621560791041?t=6EQZ1rrrPcVu3cN39bA0QA&s=19

[ChartBuddy]

Explanation

[d_eddie]

Whew?

[jojo69]

https://www.abc.net.au/news/2023-03-06/perth-mint-gold-doping-china-cover-up-four-corners/102048622

[BitcoinBunny]

🇨🇳 China is able to put an expiration date on its digital yuan, forcing people to spend and not allowing them to save.

CBDC’s are slavery, #Bitcoin    is freedom

https://twitter.com/BitcoinMagazine/status/1632803621560791041?t=6EQZ1rrrPcVu3cN39bA0QA&s=19

Well I guess the only positive is that it's clearer than fiat money going from 100% to 1% of its original value over 100 years and everyone pretending that it's a great system.

[hisslyness]

scary shit!

Polynonce: A Tale of a Novel ECDSA Attack and Bitcoin Tears

https://research.kudelskisecurity.com/2023/03/06/polynonce-a-tale-of-a-novel-ecdsa-attack-and-bitcoin-tears/

 Would someone be able to explain this to me like I'm Alice or Bob?  ELIAB for short.

I will try... from how I would picture it....

Alice is on a treasure hunt, and Bob tells Alice that the Treasure is located 500KM from the Empire State Building. Alice could draw a circle from the ESB with a 500KM radius and knows the treasure lays in that circumference. It will take a while, but eventually she will find it (brute force). However, she may ask for more clues, but each time Bob tells her where to find the treasure, he also hides it in a new location. So this time it is 600KM from Statue Of Liberty, again she will have to draw a circle with a  600KM radius from SOL and knows the treasure lays within that circumference. Again She will find it eventually....

Now lets say Bob, was lazy, and didn't want to re-bury the treasure, so when Alice asked for another clue, Instead of moving the treasure, Bob leaves it where it is and tells Alice that is is now 400KM from Liberty Bell. Using those two clues, She can now plot the two circles and where they intersect, two points, the treasure will be at one of the two points. Now imagine she asked for a third clue, assuming Bob is using the same spot he hid the treasure, the third clue will allow Alice to triangulate the location, where all three circles intersect is where the treasure is located.

That's pretty much what they did, they assumed people wouldn't "re-bury the treasure", each time they signed a transaction, and by scanning the blockchain database they were able to identify wallets that did reuse their nouce and using that information and mathematical equations. They were to derive the private key...

Fun fact: If I hid a grain of sand somewhere on earth, you would have more chances of finding it, than brute forcing a 256bit key....

EDIT: Grammar, too early in the morning!

[BitcoinBunny]

Reason for the dippity dip probably:

Fed's Powell opens the door to higher and possibly faster rate hikes
https://www.reuters.com/markets/us/feds-powell-hill-appearance-update-views-status-disinflation-2023-03-07/

No surprise.

[ChartBuddy]

Explanation

[Stepstowealth]

🇨🇳 China is able to put an expiration date on its digital yuan, forcing people to spend and not allowing them to save.

CBDC’s are slavery, #Bitcoin    is freedom

https://twitter.com/BitcoinMagazine/status/1632803621560791041?t=6EQZ1rrrPcVu3cN39bA0QA&s=19

Although the link is not opening, I expected this about CBDC's, that is the governments control, but not to this extent.

[BitcoinBunny]

🇨🇳 China is able to put an expiration date on its digital yuan, forcing people to spend and not allowing them to save.

CBDC’s are slavery, #Bitcoin    is freedom

https://twitter.com/BitcoinMagazine/status/1632803621560791041?t=6EQZ1rrrPcVu3cN39bA0QA&s=19

Although the link is not opening, I expected this about CBDC's, that is the governments control, but not to this extent.

Governments have done much worse things than making your wealth expire.
In many cases they have made people expire.

[ChartBuddy]

Explanation

[LFC_Bitcoin]

Wow, this could be extremely bullish

@JSeyff
Hot off the presses from @NYCStein (with miniscule input from yours truly). Upping Grayscale victory odds to 70%. *But* language of the ruling will be key either way.

If you want to read the entire note it can be found here for Bloomberg Terminal clients:
https://blinks.bloomberg.com/news/stories/RR5V3BT0G1KW



https://twitter.com/jseyff/status/1633160874398478341

[ChartBuddy]

Explanation

[Gachapin]

scary shit!

Polynonce: A Tale of a Novel ECDSA Attack and Bitcoin Tears

https://research.kudelskisecurity.com/2023/03/06/polynonce-a-tale-of-a-novel-ecdsa-attack-and-bitcoin-tears/

 Would someone be able to explain this to me like I'm Alice or Bob?  ELIAB for short.

I will try... from how I would picture it....

Alice is on a treasure hunt, and Bob tells Alice that the Treasure is located 500KM from the Empire State Building. Alice could draw a circle from the ESB with a 500KM radius and know the treasure lays in that circumference. It will take a while, but eventually she will find it (brute force). However, she may ask for more clues, but each time Bob tells her where to find the treasure, he also hides it in a new location. So this time it is 600KM from Statue Of Liberty, again she will have to draw a circle with a  600KM radius from SOL and knows the treasure lays within that circumference. Again She will find it eventually....

Now lets say Bob, was lazy, and didn't want to re-bury the treasure, so when Alice asked for another clue, Instead of moving the treasure, Bob leaves it there and tells Alice that is is now 400KM from Liberty Bell. Using those two clues, She can now plot the two circles and where they intersect, two points, the treasure will at one of the two points. Now imagine she asked for a third clue, assuming Bob is using the same spot he hid the treasure, the third clue will allow Alice to triangulate the location, where all there circles intersect is where the treasure is located.

That's pretty much what they did, they assumed people wouldn't "re-bury the treasure", each time they sign a transaction, and by scanning the blockchain database they were able to identify wallets that did so and using that information and mathematical equations. They were to derive the private key...

Fun fact: If I hid a grain of sand somewhere on earth, you would have more chances of find it, than brute forcing a 256bit key....

stuff like this is the reason I became a WO reader... thanks

[JayJuanGee]

Another day, another drop.
Still below 2017 high when we consider inflation.

It's fallacious, and unduly a pessimistic spin if you are striving to measure current corn prices based on our 2017 blow off top.

Various dweebs, bitcoin naysayers and misinformation spreaders have come into this thread and framed our current BTC price situation in those kinds of negative lights.

Hey, if anything, maybe you might want to consider volume of coins traded at those prices over a period of time and then make your comparison within those kinds of more realistic framings - unless you are trying trying to cause unnecessary (and likely unwarranted negative nancyisms onto ur lil selfie - or you enjoy experiencing personal painenings?)...

Think about the matter.  Between about early to mid 2018 and all the way until nearly the end of 2020, you could have picked up a whole hell of a lot of cornz, and it would have hardly taken much efforts to have had picked up those cornz for way the fuck under $10k.

And?

What's our current BTC price?  You have likely been protected pretty damned well from inflation and the money printer.. relatively speaking... yeah more than a doubling of value of bitcoin in dollar terms and yeah sure some things have gone up in price, but where would you rather be right now?  in dollars or in bitcoin?  And would you rather hold some other asset?  Which ones?  if any?

Even if you might have wanted to play around a bit with trading, there are chances that you could have played the swings and sold BTC much higher - like LFC did, but I still do not recommend fucking around with those kinds of trading practices.. especially when dealing with larger portions of your BTC holdings, even if LFC was
relatively decently prudent by ONLY shaving off around 25% of his BTC stash.. and sure, maybe I am being a bit of a prude because I am generally ok. with the idea of selling small amounts on the way up rather than selling a whole chunk of 25% at once.. so it remains a pretty damned slippery slope (and even perhaps a bit hypocritical) if I were to be too judgmental about how much LFC chose to shave off and his method of doing it.. even though it did seem to pay off pretty well for him in this particular cycle and various somewhat unknowns that kind of ended up playing out because they were not 100% unknowns.. so it wasn't like he was completely throwing darts at a board with a blindfold on.  hahahahahahaha.. no homo.

But sure, I'm the one being negative.

You could say that again.

ThInGs ArE aBsOlUtElY fInE.

I wouldn't go that far. #justsaying....  things are not really that "fine"

[ChartBuddy]

Explanation

[AverageGlabella]

and I take the lead 22 to 21. so buddy is tied into flatnesss one more time.



thanks to jjg and me buy some dca now!

Are you trying to post more then ChartBuddy?

Mining works for scrypt then convert to btc.


but you need cheap power.

As long as you are converting into btc I can see why that is profitable but thinking that shitcoins will survive for a long time and bring you a profit just does not happen. There are a few altcoins which are ok to invest in but Bitcoin will always be better and I cannot justify putting money in altcoins instead of btc. I do not have the knowledge required to mine too.

[Lainta]

BREAKING: 🇺🇸 US Court likely to overturn SEC denial of Grayscale spot #Bitcoin    ETF - Bloomberg Intelligence.

This could "unlock $5.5 billion in value" 🚀



https://twitter.com/BitcoinMagazine/status/1633172145936248838?t=4WA4c7q43MN1xNRhdg97ZA&s=19