Gold collapsing. Bitcoin UP.

[justusranvier]

Did you guys see the Lenovo blow up today, this is on the order of Sony's rootkit fiasco.

Lenovo PCs ship with man-in-the-middle adware that breaks HTTPS connections
http://arstechnica.com/security/2015/02/lenovo-pcs-ship-with-man-in-the-middle-adware-that-breaks-https-connections/

At least with Lenovo I can choose not to deal with them. However when it comes to money I have to deal with FED dollars and banks like HSBC. Oh wait, no I don't  

It will be interesting to see if the US tech industry survives, or if this is the beginning of the end.

There's some pretty strong poison in that well, and surely we've only seen the tip of the iceberg so far.

[rocks]

Did you guys see the Lenovo blow up today, this is on the order of Sony's rootkit fiasco.

Lenovo PCs ship with man-in-the-middle adware that breaks HTTPS connections
http://arstechnica.com/security/2015/02/lenovo-pcs-ship-with-man-in-the-middle-adware-that-breaks-https-connections/

At least with Lenovo I can choose not to deal with them. However when it comes to money I have to deal with FED dollars and banks like HSBC. Oh wait, no I don't  

It will be interesting to see if the US tech industry survives, or if this is the beginning of the end.

There's some pretty strong poison in that well, and surely we've only seen the tip of the iceberg so far.

Lenovo is a Chinese company, Sony a Japanese company..... (Yes Lenovo's PC came from IBM, but that was years ago and the transfer was complete a while ago.)

If anything this is reinforcing "buy american" in people's minds.

[hdbuck]

Did you guys see the Lenovo blow up today, this is on the order of Sony's rootkit fiasco.

Lenovo PCs ship with man-in-the-middle adware that breaks HTTPS connections
http://arstechnica.com/security/2015/02/lenovo-pcs-ship-with-man-in-the-middle-adware-that-breaks-https-connections/

At least with Lenovo I can choose not to deal with them. However when it comes to money I have to deal with FED dollars and banks like HSBC. Oh wait, no I don't  

It will be interesting to see if the US tech industry survives, or if this is the beginning of the end.

There's some pretty strong poison in that well, and surely we've only seen the tip of the iceberg so far.

Lenovo is a Chinese company, Sony a Japanese company..... (Yes Lenovo's PC came from IBM, but that was years ago and the transfer was complete a while ago.)

If anything this is reinforcing "buy american" in people's minds.

or it could just very well be that the average Joe/Lee actually dgaf..

[smoothie]

http://newsbtc.com/2015/02/19/independent-investigators-find-fresh-details-mt-gox/

Interesting:

"Another interesting fact that caught Wizsec’s eyes was the Willy’s static nature during the Japanese sleeping hours. The Mt. Gox bot was supposed to be automatic, but as it turns out there was hardly any trading activity. This speculation multiplied the belief that the bot was actually being controlled manually — probably by Mark Karpeles."

http://hackingdistributed.com/2014/05/27/mtgox-willy-markus/

I follow this guy on twitter and I admire him, but the article doesn't make much sense:

"For a pump and dump, there has to be a quick pump (buy action) to generate mass momentum, followed by a dump.
In this case, there was no quick pump; the buy orders were deliberately smeared across a very long time period. And there was no dump until the very end stage.
It's as simple as that. No fast pump, no dump, therefore not a pump and dump."

^^^What? This is false. A pump&dump doesn't have to be executed quickly to be a pump&dump, unless we are talking half a year to a year. The $1200 pump lasted two to three months. 2-3 months is a small time frame for a pump of that magnitude.

Large buys like those WILL have a BIG impact on the price, whether made in smaller chunks or not (impossible to buy that quantity of coins in a few market buys, literally impossible).


Also, is the author completely ignoring the fact that one of the mtgox bots (markus I believe) was buying with FAKE FIAT (amounts of money mtgox didn't actually have)? He didn't mention that.
Markus bought a gigantic quantity of BTC basically for free and Emin argues that that doesn't indicate any fraudulent activity?

you don't know it was FAKE FIAT.

gox could've been buying on behalf of a large whale.  plus, volumes on Chinese exchanges were large at the time.

What about all the bots shorting the market now with FAKE BITCOIN. 

I don't really believe in market manipulation on a wide scale, especially since we have a publicly verifiable blockchain, but it could be happening.

yes, it could be.  i'm suspicious of BitFinex.  an audit of them would be worthwhile.

i'd love for naked shorts to be caught with their pants down, if it is occurring, and watch them scramble for a bailout in fiat.

Bolded for emphasis. 

[msin]

http://www.dougengelbart.org/about/engelbarts-law.html

A quite good summary, but I loled at "would cause a disruptive ripple effect in society".
My brain is like "Ripple, nooooo!"

Ha, yeah, I cringe every time someone mentions the word "Ripple"

[Erdogan]

The current public image of bitcoin:

The ISIS angle
The money laundering angle
The trust us, we can break anything on the net angle
The illegal trade angle
The regulation angle
The danger dealing with strangers angle


This is just the MSM revving up their engine. They still don't know what is going to hit them, but they sense it is something dangerous.

Anyway, don't lose faith, this is only growing pains for bitcoin. The internet had it, computer cryptography had it, the video cassette had it, even the postcard had it.

[cypherdoc]

molecular:

can the Trezor ppl see our balances and tx's while the Trezor is logged into myTrezor.com?

yes, unfortunately. At least they're not using your xpub key to transfer addresses to watch, so they don't know your future keys (except the 5 or so per account they scan ahead).

That's my biggest criticism with myTrezor and it's why I switched to electrum as soon as the development code had trezor working. It's not perfect with electrum, either, but better (I don't know exactly what, but they do some stuff to increase privacy towards server operators).

I went to the hassle of running my own electrum server (public, of course, so I can hide in the masses when broadcasting transactions). Feel free to use it (electrum.0x0000.de), I'm not logging anything or looking at the traffic in any way.

How could they overlook such an obvious privacy violation when designing the wallet?   It should be a local client that broadcasts tx's out  to the network.

[molecular]

molecular:

can the Trezor ppl see our balances and tx's while the Trezor is logged into myTrezor.com?

yes, unfortunately. At least they're not using your xpub key to transfer addresses to watch, so they don't know your future keys (except the 5 or so per account they scan ahead).

That's my biggest criticism with myTrezor and it's why I switched to electrum as soon as the development code had trezor working. It's not perfect with electrum, either, but better (I don't know exactly what, but they do some stuff to increase privacy towards server operators).

I went to the hassle of running my own electrum server (public, of course, so I can hide in the masses when broadcasting transactions). Feel free to use it (electrum.0x0000.de), I'm not logging anything or looking at the traffic in any way.

How could they overlook such an obvious privacy violation when designing the wallet?   It should be a local client that broadcasts tx's out  to the network.

The broadcast isn't the only privacy problem inherent to the client/server thin wallet design, watching for incoming money another one.

They didn't overlook it, they accepted it for lack of a good solution.

[Erdogan]

molecular:

can the Trezor ppl see our balances and tx's while the Trezor is logged into myTrezor.com?

yes, unfortunately. At least they're not using your xpub key to transfer addresses to watch, so they don't know your future keys (except the 5 or so per account they scan ahead).

That's my biggest criticism with myTrezor and it's why I switched to electrum as soon as the development code had trezor working. It's not perfect with electrum, either, but better (I don't know exactly what, but they do some stuff to increase privacy towards server operators).

I went to the hassle of running my own electrum server (public, of course, so I can hide in the masses when broadcasting transactions). Feel free to use it (electrum.0x0000.de), I'm not logging anything or looking at the traffic in any way.

How could they overlook such an obvious privacy violation when designing the wallet?   It should be a local client that broadcasts tx's out  to the network.

The broadcast isn't the only privacy problem inherent to the client/server thin wallet design, watching for incoming money another one.

They didn't overlook it, they accepted it for lack of a good solution.

It seems the trezor compatibility has been slower than expected for most wallets. I look forward to Armory/Trezor compatibility. It seems they have to change their HD wallet to the standard BIP32 wallet first, which is probably more work/risk than implementing the trezor support. In Armory, it would resemble the existing off line signing, the change is just to use USB communication in stead of the current file based communication. EDIT: Maybe more, not an expert.

[cypherdoc]

molecular:

can the Trezor ppl see our balances and tx's while the Trezor is logged into myTrezor.com?

yes, unfortunately. At least they're not using your xpub key to transfer addresses to watch, so they don't know your future keys (except the 5 or so per account they scan ahead).

That's my biggest criticism with myTrezor and it's why I switched to electrum as soon as the development code had trezor working. It's not perfect with electrum, either, but better (I don't know exactly what, but they do some stuff to increase privacy towards server operators).

I went to the hassle of running my own electrum server (public, of course, so I can hide in the masses when broadcasting transactions). Feel free to use it (electrum.0x0000.de), I'm not logging anything or looking at the traffic in any way.

How could they overlook such an obvious privacy violation when designing the wallet?   It should be a local client that broadcasts tx's out  to the network.

The broadcast isn't the only privacy problem inherent to the client/server thin wallet design, watching for incoming money another one.

They didn't overlook it, they accepted it for lack of a good solution.

I have no problem with running a full node with s local client to maintain privac.  That should've been an option.

[grendel25]

And gold will collapse even more now that scientists have been able to produce gold by using bacteria.  bitcoin is far more relevant and useful as a currency.  Gold is still valuable but if the bacteria method of gold production is industrialized then gold prices will stabilize greatly...it won't be as volatile and shouldn't really be as costly.

[explorer]

And gold will collapse even more now that scientists have been able to produce gold by using bacteria.  bitcoin is far more relevant and useful as a currency.  Gold is still valuable but if the bacteria method of gold production is industrialized then gold prices will stabilize greatly...it won't be as volatile and shouldn't really be as costly.

Depends on the efficiency of the bacteria patent enforcer.

[rpietila]

if the bacteria method of gold production is industrialized then gold prices will stabilize greatly...it won't be as volatile and shouldn't really be as costly.

Volatility will increase when uncertainty is introduced.

The current volatility of the price of gold is man-made, it serves the interests of the money-masters. And: it's not the price of gold that is measured; gold is the yardstick to measure the value of everything else, especially the CB/fiat/financial assets. It's not about the value of a yellow metal, since the metal has little to no value, it's about the fact of having a "way to call the bluff of the financial system", and that we have not only with gold, but in Bitcoin as well now.

 If the stocks:flows ratio becomes uncertain with the technological advances, we will have natural market volatility on top of the manipulation.

[molecular]

molecular:

can the Trezor ppl see our balances and tx's while the Trezor is logged into myTrezor.com?

yes, unfortunately. At least they're not using your xpub key to transfer addresses to watch, so they don't know your future keys (except the 5 or so per account they scan ahead).

That's my biggest criticism with myTrezor and it's why I switched to electrum as soon as the development code had trezor working. It's not perfect with electrum, either, but better (I don't know exactly what, but they do some stuff to increase privacy towards server operators).

I went to the hassle of running my own electrum server (public, of course, so I can hide in the masses when broadcasting transactions). Feel free to use it (electrum.0x0000.de), I'm not logging anything or looking at the traffic in any way.

How could they overlook such an obvious privacy violation when designing the wallet?   It should be a local client that broadcasts tx's out  to the network.

The broadcast isn't the only privacy problem inherent to the client/server thin wallet design, watching for incoming money another one.

They didn't overlook it, they accepted it for lack of a good solution.

I have no problem with running a full node with s local client to maintain privac.  That should've been an option.

Satoshilabs is not in the business of making wallet software. They just made myTrezor site as a preliminary solution until wallet devs implemented trezor support.

I think maybe you want trezor support in bitcoin-qt (or bitcoin core or what it's called)?

You could rather easily use "bitcoind + local electrum server + electrum"

Also: maybe multibit might be a solution? Not sure how far the trezor support is, though.

[molecular]

And gold will collapse even more now that scientists have been able to produce gold by using bacteria.  bitcoin is far more relevant and useful as a currency.  Gold is still valuable but if the bacteria method of gold production is industrialized then gold prices will stabilize greatly...it won't be as volatile and shouldn't really be as costly.

Depends on the efficiency of the bacteria patent enforcer.

Good thing we have crypto. Otherwise (with our human greed), we'd probably turn the whole planet into gold in the long run.

[rocks]

And gold will collapse even more now that scientists have been able to produce gold by using bacteria.  bitcoin is far more relevant and useful as a currency.  Gold is still valuable but if the bacteria method of gold production is industrialized then gold prices will stabilize greatly...it won't be as volatile and shouldn't really be as costly.

Depends on the efficiency of the bacteria patent enforcer.

Good thing we have crypto. Otherwise (with our human greed), we'd probably turn the whole planet into gold in the long run.

Bacteria can not produce gold, you need a nuclear reaction to do that.

They found a bacteria that can live in gold chlroride, and does so by extracting the gold content into solid micro nuggets. This is simply another method to mine gold, but the ledger of gold atoms is still intact. Gold chlroride BTW is both rare and expensive.

Now if anyone ever found a method to profitably extract gold from ocean water....

[Kupsi]

My favourite client, Armory, will also support Trezor in the future.

[hdbuck]

Gary Shilling says oil is going to $10

http://uk.businessinsider.com/gary-shilling-oil-is-going-to-10-2015-2?r=US

[cypherdoc]

My favourite client, Armory, will also support Trezor in the future.

how would that work?  Trezor replace the offline signing wallet?

[cypherdoc]

Gary Shilling says oil is going to $10

http://uk.businessinsider.com/gary-shilling-oil-is-going-to-10-2015-2?r=US

that "shill" has made a bundle off appreciating UST's since 1980.  calculate that one out.