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

[ChartBuddy]

Explanation

[JimboToronto]

Have fun living under a bridge.

It beats living in Mom's basement.

[Newbie1022]

Have fun living under a bridge.

It beats living in Mom's basement.

Touché... that particular house looks very cool.

[shmadz]

The major problem that I see with Blockchain.info, and the most likely avenue of the theft, is simply that Blockchain uses your email as your password recovery (and even emails you your unencrypted private key as an attachment upon request.

The attackers likely have access to large amounts of compromised email accounts. Simply search those for any messages from Blockchain and voila!

Withdrawing the funds is still tricky as you still need to log into the website to withdraw, thus the use of TOR.

I work in IT and although I don't have to deal with end users much anymore, I do have to provide support for IT staff from other companies. I would say that less than one in ten IT professionals that I deal with truly understand crypto. I don't expect the masses ever will.

It's gonna be real tough to make bitcoin idiot proof enough for the masses. I'm bearish on this ever being possible without abstraction by a third party.

In my opinion, bitcoin will be a success if it simply opens the public's eyes to the opacity and corruption of our current system of governance and forces at least some level of transparency upon the established controllers of money.

Price be damned.

[NotLambchop]

...I started buying at $1200, but only small amounts, and I kept buying all year and my average BTC price currently is about $558. ...

JayJuanGee!  Think of how long you were banished to the moon!  You'll give us no choice but to send you back there if you don't stop!

Seriously tho, you started buying @1200 and still haven't stopped?
That's like the cheesiest after-school special with "bad kids" bullying you into Bitcoin with "Just try it once, JayJuanGee, not like you gonna get hooked!  You chicken?  Bawk bawk bawk!  Or won't your MOMMY let you?"

Was that how it went?

Or did  d00d from the internet lure you in with "Psst, kid...  You want somethin' to REALLY make you fly?"

Anyhow, I'd say get help, but I know you'll just come up with some bullshit excuse--how you don't need it, how you could stop any time if you wanted to, etc., etc.--I know Bitcoiners.

[shmadz]

I've just read about a major failiure in blockchain and a big theft of more than 10000 wallets

Link?

That claim may be exaggerated or a hoax, but the wallet site Blockchain.info (not the bitcoin blockchain!) is under some stress, it seems:

http://www.reddit.com/r/Bitcoin/comments/2npw4p/blockchaininfo_has_an_onion_url_now_or_is_this_a/
http://www.reddit.com/r/Bitcoin/comments/2npu1p/blockchaninfo_herding_users_on_to_rogue_tor_nodes/
http://www.reddit.com/r/Bitcoin/comments/2npmyr/security_flaw_do_not_use_blockchaininfo_api_when/
http://www.reddit.com/r/Bitcoin/comments/2npil2/blockchaininfo_has_deliberately_hijacked_all_tor/

The problem isn't blockchain.info, it's Phishing by rogue tor nodes.  

A Tor user puts their credentials into these fake blockchain.info sites presented by a rogue Tor node, and then the hackers steal all your coins.

Is Bank of America to blame when people click links in phishing emails and type in their passwords to some dubious site?

Interesting, ok that makes more sense than my compromised email assumption. Added bonus that most TOR users are not the type to get the authorities involved...

I thought it had become obvious that TOR was kinda broken for a while now.

[J3VVL]

I've just read about a major failiure in blockchain and a big theft of more than 10000 wallets

Link?

https://blockchain.info/wallet/security

sorry for waiting i had to dump my coins

I don't see anything there about a "major failure" or "big theft".

 

Other than a few million satoshis in a spending wallet on a mobile device or a few coins on an exchange, why would anyone keep any bitcoins anywhere except in paper wallets?

just the idea of it needs to sink in ; the major vulnerabilities of "smart" phones need to be recognized! ..from the reading looks like that's what the blockchain breach boils down to!

[mymenace]

The major problem that I see with Blockchain.info, and the most likely avenue of the theft, is simply that Blockchain uses your email as your password recovery (and even emails you your unencrypted private key as an attachment upon request.

The attackers likely have access to large amounts of compromised email accounts. Simply search those for any messages from Blockchain and voila!

Withdrawing the funds is still tricky as you still need to log into the website to withdraw, thus the use of TOR.

I work in IT and although I don't have to deal with end users much anymore, I do have to provide support for IT staff from other companies. I would say that less than one in ten IT professionals that I deal with truly understand crypto. I don't expect the masses ever will.

It's gonna be real tough to make bitcoin idiot proof enough for the masses. I'm bearish on this ever being possible without abstraction by a third party.

In my opinion, bitcoin will be a success if it simply opens the public's eyes to the opacity and corruption of our current system of governance and forces at least some level of transparency upon the established controllers of money.

Price be damned.

it is already hear circle has insured btc against theft and apps on mobiles to have a go anywhere service to shop with btc. It is only small at the moment but an insight into the short term future of easy payment system for consumers insured against theft, merchants have bitpay and simply thats it.

More services in the areas based on circle.com model and bitpay model with more merchamt adoption and i can use btc anywhere

[Newbie1022]

...I started buying at $1200, but only small amounts, and I kept buying all year and my average BTC price currently is about $558. ...

JayJuanGee!  Think of how long you were banished to the moon!  You'll give us no choice but to send you back there if you don't stop!

Seriously tho, you started buying @1200 and still haven't stopped?
That's like the cheesiest after-school special with "bad kids" bullying you into Bitcoin with "Just try it once, JayJuanGee, not like you gonna get hooked!  You chicken?  Bawk bawk bawk!  Or won't your MOMMY let you?"

Was that how it went?

Or did  d00d from the internet lure you in with "Psst, kid...  You want somethin' to REALLY make you fly?"

Brilliant!!!!!! https://www.youtube.com/watch?v=ZIcnBccjgMw

[J3VVL]

>>
In my opinion, bitcoin will be a success if it simply opens the public's eyes to the opacity and corruption of our current system of governance and forces at least some level of transparency upon the established controllers of money.

<<

that part still in beta

[JimboToronto]

Just say "no" to online Bitcoin storage.

Paper wallets FTW.

[mymenace]

Just say "no" to online Bitcoin storage.

Paper wallets FTW.

why not btc insured against theft like circle.com and like money is with banks

[JimboToronto]

Just say "no" to online Bitcoin storage.

Paper wallets FTW.

why not btc insured against theft like circle.com and like money is with banks

What if the insuring site is hacked?

They can't hack a paper wallet that's never been exposed to the internet.

[coinableS]

Just say "no" to online Bitcoin storage.

Paper wallets FTW.

why not btc insured against theft like circle.com and like money is with banks

What if the insuring site is hacked?

They can't hack a paper wallet that's never been exposed to the internet.

I gotta go with paper wallets as well. I don't entirely trust circle. I'll buy BTC there or Coinbase but then I'll transfer to my paper wallets.

[shmadz]

Just say "no" to online Bitcoin storage.

Paper wallets FTW.

why not btc insured against theft like circle.com and like money is with banks

How are the bitcoins insured?

Let me guess, if they have all their (your) bitcoin stolen they will reimburse you with the equivalent amount of fiat?

And if the exchange rate changes drastically during the period between the theft and the reimbursement? What then?

[lyth0s]

We will see a recover after the black friday.

Won't we?

Black Friday has little effect on the price of bitcoin... gotta wait until December 4th or soon thereafter.... but NO guarantees anything will happen after December 4; however, less likely any kind of rally will occur prior to December 4.

Out of curiosity why are you stating an importance to December 4th?

[coinableS]

We will see a recover after the black friday.

Won't we?

Black Friday has little effect on the price of bitcoin... gotta wait until December 4th or soon thereafter.... but NO guarantees anything will happen after December 4; however, less likely any kind of rally will occur prior to December 4.

Out of curiosity why are you stating an importance to December 4th?

That's the date of the auction for the seized coins.

[J3VVL]

Just say "no" to online Bitcoin storage.

Paper wallets FTW.

why not btc insured against theft like circle.com and like money is with banks

yeah lets back BTC with fiat and issue our own x50 derivatives muuahahah fools!!!

[J3VVL]

We will see a recover after the black friday.

Won't we?

Black Friday has little effect on the price of bitcoin... gotta wait until December 4th or soon thereafter.... but NO guarantees anything will happen after December 4; however, less likely any kind of rally will occur prior to December 4.

Out of curiosity why are you stating an importance to December 4th?

That's the date of the auction for the seized coins.

govt shills might pump it back to $600 lmao that would be funny

[catena5260]

We will see a recover after the black friday.

Won't we?

Black Friday has little effect on the price of bitcoin... gotta wait until December 4th or soon thereafter.... but NO guarantees anything will happen after December 4; however, less likely any kind of rally will occur prior to December 4.

Out of curiosity why are you stating an importance to December 4th?

That's the date of the auction for the seized coins.

4th will see nothing about price, because everyone know the auction data and all its effects will be already priced