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Question: When will BTC get back above $70K:
7/14 - 0 (0%)
7/21 - 1 (0.8%)
7/28 - 11 (8.9%)
8/4 - 16 (12.9%)
8/11 - 8 (6.5%)
8/18 - 6 (4.8%)
8/25 - 8 (6.5%)
After August - 74 (59.7%)
Total Voters: 124

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26490434 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (174 posts by 3 users with 9 merit deleted.)
Davyd05
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December 30, 2014, 12:00:30 PM

Come on people, together we can do it!
Let us push it beyond 300.

Why all people wants that bitcoin drop? I don't understand this :O. If you're a bitcoin owner, you can only hope that price will rise, or I'm wrong? I can not comprise your point of view


Because they want more coins & they can't afford to buy them at the current price.


that or they sold at 275 Cheesy
tarmi
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December 30, 2014, 12:00:57 PM

Come on people, together we can do it!
Let us push it beyond 300.

Why all people wants that bitcoin drop? I don't understand this :O. If you're a bitcoin owner, you can only hope that price will rise, or I'm wrong? I can not comprise your point of view


Because they want more coins & they can't afford to buy them at the current price.



you seem to have a lot of disposable cash.
magicmexican
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December 30, 2014, 12:18:02 PM

Year 2028 : Bitcoin still trading just above 300$
LFC_Bitcoin
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December 30, 2014, 12:19:24 PM

Come on people, together we can do it!
Let us push it beyond 300.

Why all people wants that bitcoin drop? I don't understand this :O. If you're a bitcoin owner, you can only hope that price will rise, or I'm wrong? I can not comprise your point of view


Because they want more coins & they can't afford to buy them at the current price.



you seem to have a lot of disposable cash.

Not really.
I've just built up a decent amount of coin & my plan is to sell it at a huge profit in the future, for a sum that makes a difference to my life.
That isn't going to happen with all the day traders buying & selling for 20 dollar profits on each coin.
We are getting nowhere like this.

I refuse to sell unless it makes a positive change to my life, I can't be bothered selling for minor profits.
600watt
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December 30, 2014, 12:36:16 PM

 Embarrassed
JorgeStolfi
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December 30, 2014, 12:39:16 PM

I doubt whether good PSRNGs, correctly implemented and used, have such a low entropy.  However, the probability of coding errors makes the project more plausible.
Trollfi has no understanding of the issue of poor PSRNGs, and is quoting this Hyena person that is making a completely spurious and ridiculous claim. Troll quoting a troll in order to troll.
Can you read?

Quote
The issue with poor PSRNGs has noting to do with address generation, the only way poor randomness could be exploited with addresses is if you could reproduce the poor randomness yourself.

The issue is that poor PSRNGs conceivably could reuse or have insufficient entropy in "R" values in signing transactions,

The BCI buggy code was posted for a few hours and affected both private keys and k (R) values generated during that interval.  It was first discovered by someone who was monitoring the blockchain for repeated R values.  These repeated Rs exposed some keys that were generated before the bug.  Once the problem was diagnosed, people reproduced the buggy RNG and recovered private keys that were either generated during the interval or used as inputs in transactions during that interval.  Most, but not all, of the compromised keys were of the latter type.

Quote
that pedantic P(security broken) formula

It is the sad problem with all security mechanisms, not just computer security.  

Two years ago the Brazilian Election Board held a public challenge to demonstrate the security of their ridiculous electronic voting machine.  They stacked the rules as much as they could: entrants could only look at the code (~1 million lines of C) for a few hours during 2 days, could not copy it, had a few more hours to describe their attack and its goals, etc..  Even so, a young prof from my dept took the challenge, more for the fun than with the hope of succeding.  

At the end of each election, the machine prints a scrambled list of all the votes cast (don't ask why).  The permutation was randomly chosen so that the votes could not be associated to voters.  My colleague noticed that, while the scrambling itself was properly done, it used an old RNG from the Linux library that the manpage itself said was deprecated.  The sequence of numbers generated by that RNG had only 16 bits of entropy (the seed), so my colleague quickly wrote a program that just enumerated the 65k possible seeds, reproduced the scrambling, and used some redundancy of the list to check them.  The hardest part was typing the 400+ items of the scrambled list.  Once the correct seed was identified, he could recover the original order of the votes and hence the precise time at which each vote was cast.  

At that point he still had some time left, so he looked again at the code, and found that the seed was actually the timestamp of the moment when the machine was booted -- which the machine printed at the top of the report.

Moral: that P formula is very important, because it takes into account the stupidity and arrogance of the security experts who implement those ultra-cally-hyper-secure cryptographic methods, and of the users who trust any code that they downloaded from the net since it was vouched for by Antonopoulos or Roger Ver.
Mervyn_Pumpkinhead
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December 30, 2014, 12:40:42 PM

Not really.
I've just built up a decent amount of coin & my plan is to sell it at a huge profit in the future, for a sum that makes a difference to my life.
That isn't going to happen with all the day traders buying & selling for 20 dollar profits on each coin.
We are getting nowhere like this.

I refuse to sell unless it makes a positive change to my life, I can't be bothered selling for minor profits.

The day traders, who are competent enough to trade with proper timing, are getting somewhere.
The only people who are getting nowhere, are the fortune seekers, whose competence ends with buying and then just sitting on their ass with high hopes of easy riches.
I personally think that it's kind of funny and sad when people complain about not getting rich without effort or skill.
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December 30, 2014, 12:42:07 PM

Be fearful when others are greedy and greedy when others are fearful  Grin
 

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December 30, 2014, 12:43:34 PM

Year 2028 : Bitcoin still trading just above 300$

some claim that bitcorn will breaking 1K at the end of April 2015

if you see at  pic below you can see pattern before big rally and we are nearing rally time

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=5&cad=rja&uact=8&ved=0CEEQFjAE&url=http%3A%2F%2Fwww.reddit.com%2Fr%2FBitcoin%2Fcomments%2F2e7ylf%2Fbitcoin_all_time_price_chart_logarithmic_scale%2F&ei=ZJqiVOK_A8yXuASrhoGoCg&usg=AFQjCNEbEelnQOjadRK9jpWLeJIZCx0i2A&sig2=-UBOJ4PikM0xnVQDB2Uktg&bvm=bv.82001339,d.c2E
ChartBuddy
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December 30, 2014, 01:00:23 PM


Explanation
dakota neat
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December 30, 2014, 01:04:44 PM


Nice. Bitcoin is in an epic bull market.
Omikifuse
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December 30, 2014, 01:18:52 PM



Some claimed that BTC would be around 10k+ by now with pics that made lots of sense.
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December 30, 2014, 01:21:18 PM


Move down your 300. I think that now we are in panic phase, when we will arrive in Despondency phase price will be 250$. I don't think that price will have a very big drop.
I don't know, the above graph is plausible if you compare 2014's decline with 2012's.

The current decline is already longer than 2012's but not as deep. Everyone keeps pointing to growth and good news, but guess what, that was happening in 2012 too! There's nothing stopping the price from continuing to decline, in spite of good news. Sure there's firm ground down there somewhere, but no one knows where.  
Davyd05
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December 30, 2014, 01:26:03 PM


yeah ..mainly pre goxxing and china banned-but-not-banned-a-thon. I see a fair bit of strength in a market touted as bunch of digital tulip beanie babies.

those kinda of assumptions we're also just noobs like me thinking that people could digest bitcoin fast enough, and thats just not true. It takes some time and sometimes multiple factors to finally break the fiat only belief systems that some people are stuck in.

these numbers just take an estimated user base over a finite amount of coins to be created by x date. as well as usually being based on comparsion of btc eating up a % of certain markets. Gold, Western Union remittances etc.
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December 30, 2014, 01:51:58 PM

Come on people, together we can do it!
Let us push it beyond 300.
Why all people wants that bitcoin drop? I don't understand this :O. If you're a bitcoin owner, you can only hope that price will rise, or I'm wrong? I can not comprise your point of view

Because they want more have no coins & they can't afford to buy them at the current price.
FTFY  Wink
ShroomsKit
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December 30, 2014, 01:53:47 PM

Cheap coins dude. Cheap coins!
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December 30, 2014, 01:55:55 PM


Cheap coins dude. Cheap coins!

ok the first bot makes sense, but the second?
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December 30, 2014, 01:58:29 PM

Thank me now, or cry later.



Anyone cared to listen?

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December 30, 2014, 02:00:20 PM


Explanation
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December 30, 2014, 02:03:48 PM


yeah ..mainly pre goxxing and china banned-but-not-banned-a-thon. I see a fair bit of strength in a market touted as bunch of digital tulip beanie babies.

those kinda of assumptions we're also just noobs like me thinking that people could digest bitcoin fast enough, and thats just not true. It takes some time and sometimes multiple factors to finally break the fiat only belief systems that some people are stuck in.

these numbers just take an estimated user base over a finite amount of coins to be created by x date. as well as usually being based on comparsion of btc eating up a % of certain markets. Gold, Western Union remittances etc.


This link shows no less than four charts all suggesting bitcoin will hit $10000 next year. According to the fourth chart bitcoin should be selling for $600 $10000+ today. All four charts got it wrong.

https://www.cryptocoinsnews.com/four-charts-suggest-bitcoin-value-10000-usd-next-year/

edit]

I misread the fourth chart, I thought it showed the price should be $600 today, but it shows it should be $10000+ today.
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