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

[SFHere]

Not to forget, there's some speculation in the more tinfoil-hatty segments that the NSA may have supplied algorithms that are "pre-weakened". Seems unlikely but with everything that has been coming out lately, perhaps not to be dismissed out-of-hand so quickly.

IIRC, it was confirmed (by Snowden?) that the NSA had weakened a random number generator used by some OS (Windows?) to  generate keys in some popular crypto protocol (https?).  The numbers were drawn from a smaller domain than clients expected,  making the keys easier to find by brute force. 

Is this that Dual_EC_DRBG backdoor I've been hearing about?

[bigdave]

Not to forget, there's some speculation in the more tinfoil-hatty segments that the NSA may have supplied algorithms that are "pre-weakened". Seems unlikely but with everything that has been coming out lately, perhaps not to be dismissed out-of-hand so quickly.

IIRC, it was confirmed (by Snowden?) that the NSA had weakened a random number generator used by some OS (Windows?) to  generate keys in some popular crypto protocol (https?).  The numbers were drawn from a smaller domain than clients expected,  making the keys easier to find by brute force. 

Is this that Dual_EC_DRBG backdoor I've been hearing about?

Its probably this:

http://www.infoworld.com/d/data-center/the-new-openssl-flaw-no-heartbleed-243861

[JimboToronto]

This is a nice little dip we're having. How low can it go.

LOL

"Nice" little dip? Do you mean pathetic bear failure?

Nice little bounce back.



As always, Bitcoin Bozo bounces back.

 

[KFR]

Not to forget, there's some speculation in the more tinfoil-hatty segments that the NSA may have supplied algorithms that are "pre-weakened". Seems unlikely but with everything that has been coming out lately, perhaps not to be dismissed out-of-hand so quickly.

IIRC, it was confirmed (by Snowden?) that the NSA had weakened a random number generator used by some OS (Windows?) to  generate keys in some popular crypto protocol (https?).  The numbers were drawn from a smaller domain than clients expected,  making the keys easier to find by brute force. 

Is this that Dual_EC_DRBG backdoor I've been hearing about?

No.  Beware FUD unrelated to Bitcoin. 

It's not heartbleed but it is related to OpenSSL.  Nobody should be using that algorithm now anyway:

http://en.wikipedia.org/wiki/Dual_EC_DRBG

[mogrith]

Android was OS

RND function weakened.

but a good crypto collects randomness from many places so it only effected code that relied too much on rnd function.

Not to forget, there's some speculation in the more tinfoil-hatty segments that the NSA may have supplied algorithms that are "pre-weakened". Seems unlikely but with everything that has been coming out lately, perhaps not to be dismissed out-of-hand so quickly.

IIRC, it was confirmed (by Snowden?) that the NSA had weakened a random number generator used by some OS (Windows?) to  generate keys in some popular crypto protocol (https?).  The numbers were drawn from a smaller domain than clients expected,  making the keys easier to find by brute force. 

[ChartBuddy]

Explanation

[shmadz]

Android was OS

RND function weakened.

but a good crypto collects randomness from many places so it only effected code that relied too much on rnd function.

I believe Steve Gibson is working on a pretty good approximation of true randomness with his SQRL project.

but I think the underlying point is that, if a flaw is found, the system will be rolled back or rebuilt from the ashes, better and stronger than before.

I'm not certain about the future of bitcoin in this iteration, but the idea of Bitcoin "is too big to fail"


 

hehe, couldn't resist  

[jl2012]

With this dump it is looking more and more like it did right before the massive run-up in November. 

I guess this is a good sign then? 

How exactly is this dump looking similar to pre-November run up?

there was massive bear traps on the way, i know, i fell in every single one.

Sorry to break it to you, but one of these is not alike.



This formation never occurred in April or November. I really doubt this rally will reach new highs.

My personal opinion: Its done.

My personal opinion: this is just a pre-rally. It will be followed by a period of stagnation and the real rally to ATH will come

Look at the 1-day RSI chart. The pattern is repeating. If that's true, we should keep raising to 700-ish, stabilize at 600-ish for a month, and the real bubble begins at July.

everybody goes history does not repeat blah blah blah

But i agree this biatch certainly is doing a very good impression of the same thing ...

Maybe we should say humans repeating their same mistakes or humans not changing their behaviour in the context of (GREED/FEAR)

Further zooming out you will see this pattern has happened 3 times in a row

Time to revisit this chart. Now the daily RSI had dropped below 70. If the pattern is going to repeat, we will get stable around 650 for at least a month. This will also form a cup-and-handle pattern on the chart.

[ChrisML]

Or shit will hit the fan and it will rocket through $700. YAY

[ChartBuddy]

Explanation

[jl2012]

Loaded Observer: https://bitcointalk.org/index.php?action=profile;u=73652

Loaded logged-in few days ago without leaving a word  

(If you do not aware, he disappeared since the death of mtgox)

[ChrisML]

Loaded Observer: https://bitcointalk.org/index.php?action=profile;u=73652

Loaded logged-in few days ago without leaving a word  

(If you do not aware, he disappeared since the death of mtgox)

There was this other guy who wired in $50k just days before Gox filed bankruptcy.. never heard of him either.

[jl2012]

Loaded Observer: https://bitcointalk.org/index.php?action=profile;u=73652

Loaded logged-in few days ago without leaving a word  

(If you do not aware, he disappeared since the death of mtgox)

There was this other guy who wired in $50k just days before Gox filed bankruptcy.. never heard of him either.

That guy is back alive. I'm not quoting his name nor profile link for privacy reason

[ShroomsKit_Disgrace]

Loaded Observer: https://bitcointalk.org/index.php?action=profile;u=73652

Loaded logged-in few days ago without leaving a word  

(If you do not aware, he disappeared since the death of mtgox)

There was this other guy who wired in $50k just days before Gox filed bankruptcy.. never heard of him either.

That guy is back alive. I'm not quoting his name nor profile link for privacy reason

He is running an altcoin exchange now!!!!

[ChartBuddy]

Explanation

[ChrisML]

Loaded Observer: https://bitcointalk.org/index.php?action=profile;u=73652

Loaded logged-in few days ago without leaving a word  

(If you do not aware, he disappeared since the death of mtgox)

There was this other guy who wired in $50k just days before Gox filed bankruptcy.. never heard of him either.

That guy is back alive. I'm not quoting his name nor profile link for privacy reason

Well, I am happy to hear he is alive and well!

[bitbob82]

it is extremely extremely BORING oh my god, when will the price move , common man

[molecular]

it is extremely extremely BORING oh my god, when will the price move , common man

there's not excitement without boredom. yin & yang, tao and shit, remember?

[phatsphere]

how nice, i drew that lines days ago and it dropped when they crossed to where i expected it (fib retracement)

but, what will happen next?

[molecular]

but, what will happen next?

the 1 million bitcoin question.