The market price and speculation around the price drop (December 9th 2014)

[promojo]

What is causing this to happen?  Seriously?  There has really been no bad news yesterday except for the fact blockchain.info got hacked NOT the blockchain itself.  I don't think this is manipulation or China going crazy.   I think people are getting out or getting out for holidays? 

There is also speculation/rumor that just came out - For every public BTC address, there is 2 to the power of 96 private keys that FIT. - True or false rumors?

Any comments/feedback appreciated.   I think we are all bears at this point.

[amaclin]

There is also speculation/rumor that just came out -
For every public BTC address, there is 2 to the power of 96 private keys that FIT.
- True or false rumors?

Yes. It is true. There are ~ 2¹⁶⁰ addresses and ~ 2²⁵⁶ private keys
256 - 160 = 96

[promojo]

There is also speculation/rumor that just came out -
For every public BTC address, there is 2 to the power of 96 private keys that FIT.
- True or false rumors?

Yes. It is true. There are ~ 2¹⁶⁰ addresses and ~ 2²⁵⁶ private keys
256 - 160 = 96

So.  With that said.  Can you explain this in english to people that don't understand?  I think we need to make people aware of this....


Thanks

[amaclin]

Can you explain this in english to people that don't understand?

No, I can not. I speak English very bad. And tired explaining the obvious things

I think we need to make people aware of this....

Why?

[Guido]

There is also speculation/rumor that just came out - For every public BTC address, there is 2 to the power of 96 private keys that FIT. - True or false rumors?

link? or else you're just a bear spreading fud
thanks

[leex1528]

What is causing this to happen?  Seriously?  There has really been no bad news yesterday except for the fact blockchain.info got hacked NOT the blockchain itself.  I don't think this is manipulation or China going crazy.   I think people are getting out or getting out for holidays? 

There is also speculation/rumor that just came out - For every public BTC address, there is 2 to the power of 96 private keys that FIT. - True or false rumors?

Any comments/feedback appreciated.   I think we are all bears at this point.

Who said price is going down?  It has been going up for me?  Do you have any valid information other than just saying price is going down?

[promojo]

What is causing this to happen?  Seriously?  There has really been no bad news yesterday except for the fact blockchain.info got hacked NOT the blockchain itself.  I don't think this is manipulation or China going crazy.   I think people are getting out or getting out for holidays? 

There is also speculation/rumor that just came out - For every public BTC address, there is 2 to the power of 96 private keys that FIT. - True or false rumors?

Any comments/feedback appreciated.   I think we are all bears at this point.

Who said price is going down?  It has been going up for me?  Do you have any valid information other than just saying price is going down?

It appears that price is going back up.  Rebound in the last 30 minutes or so... Right when I posted this?  Thoughts?

[promojo]

There is also speculation/rumor that just came out - For every public BTC address, there is 2 to the power of 96 private keys that FIT. - True or false rumors?

link? or else you're just a bear spreading fud
thanks

That is what I am trying to figure out here..... Looks like we have a rebound on the way?

[dserrano5]

Yes. It is true. There are ~ 2¹⁶⁰ addresses and ~ 2²⁵⁶ private keys
256 - 160 = 96

I think we need to make people aware of this....

STOP THE PRESS! BITCOIN'S BROKEN!! Now seriously, aware of exactly what?

It appears that price is going back up.  Rebound in the last 30 minutes or so... Right when I posted this?  Thoughts?

That must be because you are The Manipulator.

[newIndia]

What is causing this to happen?  Seriously?  There has really been no bad news yesterday except for the fact blockchain.info got hacked NOT the blockchain itself.  I don't think this is manipulation or China going crazy.   I think people are getting out or getting out for holidays? 

There is also speculation/rumor that just came out - For every public BTC address, there is 2 to the power of 96 private keys that FIT. - True or false rumors?

Any comments/feedback appreciated.   I think we are all bears at this point.

We know that from 2009. Why on earth this will have any impact on price ? It'll take u a few sun life to find one of those 2⁹⁶ combination against a certain address.

[LiteCoinGuy]

buy = price up
sell = price down

[DannyHamilton]

For every public BTC address, there is 2 to the power of 96 private keys that FIT. - True or false rumors?

This is true.

There are also significantly more than 2^255 private keys that DO NOT fit.

This means that if you choose a private key at random, you have a 1 in 1.46X10⁴⁸ chance of choosing the private key of a specific address that you are attempting to attack.

That's a 0.000000000000000000000000000000000000000000000068% chance of success. (6.8X10^-47%)

Of course it is impossible for there to EVER be more than 2⁵¹ bitcoin addresses that simultaneously have a balance in them (specifically there will never be more than 2,099,725,475,410,000 addresses that simultaneously have a balance in them).

[promojo]

For every public BTC address, there is 2 to the power of 96 private keys that FIT. - True or false rumors?

This is true.

There are also significantly more than 2^255 private keys that DO NOT fit.

This means that if you choose a private key at random, you have a 1 in 1.46X10⁴⁸ chance of choosing the private key of a specific address that you are attempting to attack.

That's a 0.000000000000000000000000000000000000000000000068% chance of success. (6.8X10^-47%)

Of course it is impossible for there to EVER be more than 2⁵¹ bitcoin addresses that simultaneously have a balance in them (specifically there will never be more than 2,099,725,475,410,000 addresses that simultaneously have a balance in them).

Thanks for clearing this up... I just kept on reading this morning about people talking about this and making it seem like it is breaking news.


Cheers

[promojo]

That must be because you are The Manipulator.

Whoa there cowboy.   I ain't trying to manipulate anything.

[fewcoins]

Okay well back on topic, We are in a pretty tight range & will continue to trade largely sideways probably until the year ends...
Plenty of money to be made here... Looks like we hit a wall & I see almost 3k coins willing to be bought at $330
A bounce is expected, probably to 400 maybe more, then we will come back to test this 350 level again.
I covered my shorts yesterday once we got into the 340 range, Looks like this accumulation will continue for a while so I am starting to nibble in the area in case of another run to $470+

[promojo]

Okay well back on topic, We are in a pretty tight range & will continue to trade largely sideways probably until the year ends...
Plenty of money to be made here... Looks like we hit a wall & I see almost 3k coins willing to be bought at $330
A bounce is expected, probably to 400 maybe more, then we will come back to test this 350 level again.
I covered my shorts yesterday once we got into the 340 range, Looks like this accumulation will continue for a while so I am starting to nibble in the area in case of another run to $470+

I have been shorting as well....  I went back in at 344 and sold off yesterday at 346.... Waiting to re-enter - I thought we were going to fall again and from the looks of it we are simply going sideways.   I might buy on the low end today.   Hopefully.

[resya]

Those who are still at a decent profit should be selling now and waiting to see what happens. Take your profits because you can always buy back and profit again later when things looks better. Downtrend right now and heading to a weekend. Smart to sell and wait if youre at a profit.

[sniveling]

Okay well back on topic, We are in a pretty tight range & will continue to trade largely sideways probably until the year ends...
Plenty of money to be made here... Looks like we hit a wall & I see almost 3k coins willing to be bought at $330
A bounce is expected, probably to 400 maybe more, then we will come back to test this 350 level again.
I covered my shorts yesterday once we got into the 340 range, Looks like this accumulation will continue for a while so I am starting to nibble in the area in case of another run to $470+

I have been shorting as well....  I went back in at 344 and sold off yesterday at 346.... Waiting to re-enter - I thought we were going to fall again and from the looks of it we are simply going sideways.   I might buy on the low end today.   Hopefully.

Looking at the weekly charts for the big exchanges there appear to be big 2.5k dumps early in the week that have gradually got smaller and smaller before mid-week. Today there only seems to have been a few relatively small dumps that the price quickly bounced back from. My guess is also that we are simply going sideways for a while, and afterwards we might start going up.

[fewcoins]

We def are trading sideways but the range keeps getting smaller and smaller... Something has got to give!

[botany]

Those who are still at a decent profit should be selling now and waiting to see what happens. Take your profits because you can always buy back and profit again later when things looks better. Downtrend right now and heading to a weekend. Smart to sell and wait if youre at a profit.

The question is how much lower can you go? If you are anyway looking at moderate downside, better to hold your coins.