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

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[d_eddie]

[edited out]

We will never know when they are hackable before they are hacked thats the problem.

And once they are hackable with QC they are gone, poof, it will take no time at all.

From your perspective, once QC arrives, all of Satoshi's coins are gone "at once"..  That seems a wee bit fantastical.

I have to agree with Hueristic on this. If (I'm saying if, but it might be rephrased as "if or when") QC gets to the point where bruteforcing an exposed public key is feasible, an intelligent actor wouldn't just hack one address by moving the coins and sit waiting for the community to react. Rather, they'd go through the blockchain and/or their carefully saved snapshots of the mempool to find out which addresses are hackable and deliberately accumulate the derived private keys. Then, all at once - poof! A bunch (a hurricane?) of transactions moving the hacked coins in one fell swoop.

That's why I think once an address is hacked by QC, all of them are bound to be in no time at all.

Right now, there seem to be BIP proposals to make it "acceptable" to be fucking around with private keys of other members through changes in the software, then it does not matter if you hold your keys as brain wallets or whatever or you gave the private keys to your best friend or to the grandchild of your best frienc, since if the address type might meet a certain criteria of having coins inside that had not been moved or whatever might be the criteria, then your coins might get frozen (rug pulled) or maybe reallocated into tail distribution or some other dumb shit like that.  ..so when you wake up from your coma (or the grandchild of your best friend peels the sticker off of the Casacius coins), there won't be any coins in the place where there used to be coins.

This, too, is a fact that can't be disagreed with.

From the point we are at, it's hard for me to take a side. I don't mean JJG vs. Hueristic. I mean it's difficult to form an opinion that takes all the known facts and likely possibilities into account. Until I figure everything out, I am of the opinion that less is more, and inaction is the best course of action. Understating a tad, I feel BIP-361 could be a bit rushed.

[asUHWEceyc]

b-b-b-butt muh d-wave!!1 needz hard fork nao

L    L

_{scams are for tards}

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Decimetre]

As posted by OKX on twitter
 https://x.com/okx/status/2047246875598709198?t=kTG859vHPL-1qqUKQSumBA&s=19

Bitcoin has gone a long way. A prophecy that no one saw coming. The message of hope and resilience sent by Satoshi on exactly 15 years ago (as reported by OKX).

[cAPSLOCK]

It's just a matter of time before people call for things to be frozen on the Bitcoin blockchain. Maybe even attempts to do it.

And fail.

Title: Tether Freezes $344M USDT Linked to Illicit Activity, Highlights Stablecoin Risks 
Published: 2024-06-12T10:00:00.000Z 
Summary: Tether has recently frozen $344 million worth of USDT tokens connected to illicit activities, bringing renewed attention to the risks inherent in stablecoins. This action highlights the increasing regulatory scrutiny the stablecoin sector faces, which may lead to heightened market volatility and stricter future compliance requirements. The move reflects ongoing efforts to improve security and transparency within the cryptocurrency ecosystem

. 

https://cryptobriefing.com/tether-freezes-344m-usdt-linked-to-illicit-activity-highlights-stablecoin-risks/ 

[BitHodlers]

It's just a matter of time before people call for things to be frozen on the Bitcoin blockchain. Maybe even attempts to do it.

And fail.

Title: Tether Freezes $344M USDT Linked to Illicit Activity, Highlights Stablecoin Risks 
Published: 2024-06-12T10:00:00.000Z 
Summary: Tether has recently frozen $344 million worth of USDT tokens connected to illicit activities, bringing renewed attention to the risks inherent in stablecoins. This action highlights the increasing regulatory scrutiny the stablecoin sector faces, which may lead to heightened market volatility and stricter future compliance requirements. The move reflects ongoing efforts to improve security and transparency within the cryptocurrency ecosystem

. 

https://cryptobriefing.com/tether-freezes-344m-usdt-linked-to-illicit-activity-highlights-stablecoin-risks/ 

Unless we freeze this time with the quantum threat, then that will almost guarantee that we will freeze again. Resist the freeze.

[AlcoHoDL]

[edited out]

We will never know when they are hackable before they are hacked thats the problem.

And once they are hackable with QC they are gone, poof, it will take no time at all.

From your perspective, once QC arrives, all of Satoshi's coins are gone "at once"..  That seems a wee bit fantastical.

I have to agree with Hueristic on this. If (I'm saying if, but it might be rephrased as "if or when") QC gets to the point where bruteforcing an exposed public key is feasible, an intelligent actor wouldn't just hack one address by moving the coins and sit waiting for the community to react. Rather, they'd go through the blockchain and/or their carefully saved snapshots of the mempool to find out which addresses are hackable and deliberately accumulate the derived private keys. Then, all at once - poof! A bunch (a hurricane?) of transactions moving the hacked coins in one fell swoop.

That's why I think once an address is hacked by QC, all of them are bound to be in no time at all.

Right now, there seem to be BIP proposals to make it "acceptable" to be fucking around with private keys of other members through changes in the software, then it does not matter if you hold your keys as brain wallets or whatever or you gave the private keys to your best friend or to the grandchild of your best frienc, since if the address type might meet a certain criteria of having coins inside that had not been moved or whatever might be the criteria, then your coins might get frozen (rug pulled) or maybe reallocated into tail distribution or some other dumb shit like that.  ..so when you wake up from your coma (or the grandchild of your best friend peels the sticker off of the Casacius coins), there won't be any coins in the place where there used to be coins.

This, too, is a fact that can't be disagreed with.

From the point we are at, it's hard for me to take a side. I don't mean JJG vs. Hueristic. I mean it's difficult to form an opinion that takes all the known facts and likely possibilities into account. Until I figure everything out, I am of the opinion that less is more, and inaction is the best course of action. Understating a tad, I feel BIP-361 could be a bit rushed.

It's a problem, for sure. Any way you approach it, there are side effects.

Like someone said (was it Hueristic?), damned if you do, damned if you don't.

I also can't take a side. The purist in me wants to leave everything as they are now, and wait until more information is available, before anything is done.

At least, our coins are secure (assuming no one here is still using those vulnerable addresses).

1 BTC = 1 BTC, but how much will it be worth if all those old addresses/keys start getting hacked by QC?

Damn, this feels very unsettling to even think about...

[BitHodlers]

1 BTC = 1 BTC, but how much will it be worth if all those old addresses/keys start getting hacked by QC?

Damn, this feels very unsettling to even think about...

It is not going to drop to $0 because some coins enter back into circulation......

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[OgNasty]

It's just a matter of time before people call for things to be frozen on the Bitcoin blockchain. Maybe even attempts to do it.

And fail.

Title: Tether Freezes $344M USDT Linked to Illicit Activity, Highlights Stablecoin Risks 
Published: 2024-06-12T10:00:00.000Z 
Summary: Tether has recently frozen $344 million worth of USDT tokens connected to illicit activities, bringing renewed attention to the risks inherent in stablecoins. This action highlights the increasing regulatory scrutiny the stablecoin sector faces, which may lead to heightened market volatility and stricter future compliance requirements. The move reflects ongoing efforts to improve security and transparency within the cryptocurrency ecosystem

. 

https://cryptobriefing.com/tether-freezes-344m-usdt-linked-to-illicit-activity-highlights-stablecoin-risks/ 

They are literally calling for certain BTC to be frozen right now and are actively moving in that direction… This is always the case, crooked people wanting control of other people’s money. Dare I say that is even the real reason to push people off chain and onto the Lightning Network… But I think that is still considered tinfoil hat stuff…

[d_eddie]

She does not know what to think of this book.  But thats partly because she was reading it upside down for a long while.

Your fairy is getting cuter by the day. She's growing on me.

[d_eddie]

I think you're underestimating the possible tsunami, @BitHodlers.

Personally I would love to see the old 2009 blocks start to transfer to a new set of bc1q addresses.
say may 1 2026
block number 2 moves to a bc1q address
https://blockchair.com/bitcoin/address/1HLoD9E4SDFFPDiYfNYnkBLQ85Y51J3Zb1

That would be a sight to see, but I am sure many would panic and try to cause more panic regarding such moves too.

That would not be a nice sight for my eyes. I hope we never come to that.

1 BTC = 1 BTC, but how much will it be worth if all those old addresses/keys start getting hacked by QC?

Damn, this feels very unsettling to even think about...

It is not going to drop to $0 because some coins enter back into circulation......

Not to zero - way too many buyers long before that - but can you imagine the panic and the time we'd spend licking our wounds? I bet you can't.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[philipma1957]

WHAT better way to make it cheap?

Number one pretend to be able to crack the crypto .

number two insure safety by forcing a transfer to safe addresses.

number three and here is the key move a few of the old blocks if number two fails and

say they were cracked.


Based on that above just leave the old ones around and say go ahead crack them.

it is not an issue until they are cracked.

so if mass cracking is fake and decades away it is a non issue.


BTW if people had listened to me early (say 2021 before the quantum f.u.d. began) when I first mentioned moving the older 2009 and 2010 coins to the back end of the chain or even to 2056 or later all of this would have be resolved without the threat of qc fucking things up.

but no don't do it.

now the only hope is satoshi is alive and moves them all into the genesis block

overnight. problem solved.

[OgNasty]

Peter Schiff with more comments about Saylor’s STRC preferred offering. He seems pretty confident that this is going to blow up soon… I’ll admit I don’t know if Saylor is going to be able to hold it together through the bear or not. If he can’t though, that is going to be one hell of a fire sale.

“The main difference between a typical Ponzi scheme and $STRC is that with the former the promoter doesn't tell you it's a Ponzi or that your payments will stop when the pool of new buyers dries up. But the financial dynamics remain the same, despite the warning in the fine print.”

https://x.com/peterschiff/status/2047360929021534511

[d_eddie]

Quoting Peter Schiff?
Big no-no, but it gets worse...
Wondering if he's right?




#haiku

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[BitHodlers]

I think you're underestimating the possible tsunami, @BitHodlers.

That would not be a nice sight for my eyes. I hope we never come to that.

Not to zero - way too many buyers long before that - but can you imagine the panic and the time we'd spend licking our wounds? I bet you can't.

I hope not too, but if you are asking me if it is between that or getting coins frozen and becoming like a shitcoin that freezes balances then... I just don't see how we can say that freezing is the better choice.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com