Bitcoin Price Drops 22% in Four Days as Infighting Goes Public

Original — fortune.com/2017/12/21/bitcoin-price-drops-infighting/

Archive — archive.fo/FMgM3

>From a Sunday high of nearly $20,000 per digital coin, Bitcoin dropped more than 22% to a price as low as $15,262 on Thursday afternoon. Some see the drop as fallout from long-unresolved problems with Bitcoin’s infrastructure, and the increasingly intense civil war it has produced in the cryptocurrency community.

>Some recent Bitcoin buyers have described trying to actually use bitcoin for purchases, only to run into the reality of the network’s absurdly high transaction fees. Those fees have risen steadily for years due to crowding on the network.

Says the article. My take? All these currency-manipulators these people thought they could ride the coattails of, have royally fucked them over and profited billions. It's like I used to say, the Jews are gonna pump it up, then cash out all at once, killing the currency and fucking everyone over, while profiting millions and billions. It goes on to say:

>The long-running fight over how to fix the issue hit the mainstream as never before yesterday, when cryptocurrency pioneer Roger Ver appeared on CNBC. Ver was promoting Bitcoin Cash, a fork of Bitcoin created to address the digital currency’s scaling problems. Ver warned viewers that bitcoin could see “a mass exodus of people rushing for the door.” At the same time, a CNBC Twitter account was accused of “shilling” thanks to tweets that appeared to support Bitcoin Cash.

>Almost simultaneously, the cryptocurrency exchange Coinbase announced that it had halted trading in Bitcoin Cash over concerns that the exchanges’ employees may have engaged in insider trading—another possible shock to investor confidence.

>The conflicts and imperfections of the cryptocurrency world are nothing new, and neither are huge price dips—Bitcoin has seen two similarly sharp drops in just the last two months. And long-term supporters are optimistic that fixes for the underlying crowding issue, particularly a new feature known as Lightning Network, are on the way.

Bitcoin and Eliptical Curve Cryptography discussion welcomed. The most important thing to note about Bitcoin is that we won't be directly affecting its success until we move on to ECC itself.

Litecoin Founder Cashes Out, Sells Entire Stake After 9,300% Rally

Dec 20, 2017 8:28 PM

Original — zerohedge.com/news/2017-12-20/litecoin-founder-cashes-out-sells-entire-stake-after-9300-rally

Archive — archive.fo/2R9iK

>Charlie Lee, the creator of the world’s fifth-biggest cryptocurrency, Litecoin, announced shortly after midnight that he was cashing in his profits after a torrid, 9,300% rally in the past 12 months. In a post on reddit, the San Francisco-based software engineer who founded litecoin in 2013, said that he sold and donated all of his holdings over the past few days.

>"Litecoin has been very good for me financially, so I am well off enough that I no longer need to tie my financial success to Litecoin’s success. For the first time in 6+ years, I no longer own a single LTC that’s not stored in a physical Litecoin" Lee said in the post.

>>997

Thanks for the thread!

Relevant, but not the maths. That thread will just get cleaner, then less anons pissed off and everyone happier.

Ya, lot's of chatter about fees as well, could be an Achilles heel. They've been going way up, users that used to pay less than a buck now see over $20 for a transaction fee. What kind of currency is that?

There's some links on Eliptical Curve Cryptography, the basis of the blockchain, here:

>>849

>>999

Fuckin' Checked!

Noted that, those are on the reading list, thanks for linking in here.

>>998

That's insane. Somebody has definitely sabotaged cryptocurrencies. Lord Rothschild? Heh.

Whats this about a "drop"? Meh

>>1002

That's true. I didn't actually expect there to be any fallout from this, but a lot of people are exploding over it. Probably normal when you invest in meme currency.

>>1002

I think that's a misleading graph when you normalize for time. A 93% drop over 6mo., or 86% over 5 quarters, versus 39% in what, less than a week? And I bet some want out but can't cause of frozen trading.

Sauce please??? That would indicate intent, perhaps to put the herd at ease, in effect saying - "stay calm, carry on, this has happened before and it was much worse."

Thoughts?

>>1004

Indeed. That graph was cooked up and doesn't show the time.

>>1003

Some idiots bought the top. Would probably suck to have bought the ETF at $20k on margin :)

And any drop is a good opportunity to scare people away from cryptocurrencies

>>1004

Yep this one was pretty quick, but not unexpected when it was at $8400 just a month ago.

Exchanges breaking does suck. Much fuckery lately

>>1005

Aside from the log scale (which is perfectly fine for something like this), the graph isn't that cooked

>>1006

Am not taking issue with the Y-axis, that makes sense.

It's the X-axis and % / unit time that is misleading. I don't think your rationalization holds for '$8400 just a month ago'. Not saying cooked, just "misleading".

Again, sauce? CONTEXT matters.

>>1008

Agree that ~100px per year is a bit useless for seeing details

http:// www.zerohedge.com/news/2017-12-22/cryptocurrency-heatmap-sea-red

Quite free of bullshit for a zerohedge article

Bitcoin is dead — Invest in cryptokitties now! https://wikileaks.shop/pages/cryptokitties

>>1010

Want. Only problem is the Clinton Console Kitty isn't wearing an ankle 'bracelet' for keeping track of your kitty wherever it may try to hide.

Seems it's been resuscitated.

>>1009

Thanks. Interesting read, as well as the comments.

>>1054

Stabilized, people were buying on the dips. Should be interesting in coming days / weeks. One thing is this showed fragility of the exchanges.

>>1087

Why is it so disgusting to see people covet and worship Bitcoin when it's not any different for regular currency?

>>1093

Ah, but don't people covet and worship regular currency? Why should it be any different?

Hmm. I have no idea. It's just irritating.

Weiner's "Insurance" file is out there. 65GB worth.

BUT, it's encrypted.

Hmmm, wonder if it uses RSA???

No secrets!!!

>>1236

Nope. Insurance files use symmetric key encryption.

>>1236

>>1237

SHA256, ha what do I know. This just in…

>>1241

Hashes are for file verification. Download a file, it matches that hash, you have the intended file.

>>1241

>>1242

Thanks, installed aescrypt.

These two found on board, and variants of them, don't work:

4767 5774 6a7a 4d6c 6330 666b 314a 3453 0000 0907 84b4 f787 7616 86f7 a737 5707 5736

4767 5774 6a7a 4d6c 6330 666b 314a 3453 0907 84b4 f787 7616 86f7 a737 5707 5736

476757746a7a4d6c6330666b314a3453090784b4f787761686f7a73757075736

Key: 72E0C7D9-EB8A-49A7-8367-1190ACAD8F9F

72E0-C7D9-EB8A-49A7-8367-1190-ACAD-8F9F

Here's the SHA256 hash generated for the downloaded file. Anyone else have a has for the download that could verify a clean file?

61A70C6062AB1712948381D4BD35CBF67AAD6365A5BB4723C259FD1E253344C3

61A7-0C60-62AB-1712-9483-81D4-BD35-CBF6-7AAD-6365-A5BB-4723-C259-FD1E-2533-44C3

Thread #218 was all lit up this morning with RSA, encryption, bitcoin chatter.

https://8ch.net/cbts/res/185793.html#185793

>>1374

See there's a thread on cbts for Weiner download, will post anything related there going forward.

https://8ch.net/cbts/res/169821.html#169821

>>1375

People are so ignorant.

Typing posts to me about how the death of RSA is not related to Q, and sending that post over an RSA-secured connection..

>>1375

I also made the point that Bitcoin is worse than Fiat money. If the math gets cracked all your money becomes worth $0.

Sad.

Scam.

>>1528

You are correct but "If the math gets cracked" trips off the tongue so easily! Cryptography is an interesting science. It is all about doing stuff that is Really really hard one way and really really easy another way.

Crypto currencies are no more a scam than the fiat you use every day. The thing about cryptos is that they only have ONE easy way to use them. Fiat, that you know and love has tons of ways it can be cheated. Ask the FED. Ask the CFPB run by Pocahontas that literally is just a way to snag free FED money and use it to support stocks. Oh… and it is ALL DIGITAL. Just like the cryptos. Fiat is cracked as you fear constantly. All the time. They just make more as it is stolen.

Everything but hard money and paper money will go away if the stuff on this board turns out to be true. Keep that in mind. Paper money is far to small in volume to support the existing economy and far too slow. Hard money (gold/silver) is WORSE as far as distribution and use. No one has any and no one knows how to use it any more.

>>1992

All paper currencies will suffer because electronic transactions are RSA secured. When we find the solution it will only take me a few days to program something that uses it in an err..

practical setting. But I don't really want to do anything illegal. Maybe freak a few people out that I have their private key.

https:/ /www.cnbc.com/2018/01/02/bitcoin-rises-after-report-says-early-facebook-investor-peter-thiel-is-buying-massive-amounts.html

Bitcoin rises after report says early Facebook investor Peter Thiel is buying massive amounts

Peter Thiel's Founders Fund has bought millions of dollars in bitcoin, The Wall Street Journal reported Tuesday, citing sources familiar with the situation.

Those holdings are worth hundreds of millions of dollars, the newspaper says. It wasn't clear whether Founders had sold any of its holdings, the report says.

Bitcoin rises more than 11 percent to trade near $14,711, according to Coinbase.

Evelyn Cheng | @chengevelyn

Published 2 Hours Ago Updated 10 Mins Ago (1/2/2018)

Interesting thread popped up in qresearch bread # 1982:

>>>/qresearch/1576428

GODFATHER of ENCRYPTION: Adi Shamir

He is a co-inventor of the RSA algorithm (along with Ron Rivest and Len Adleman)

IMPORTANT: Together with Eli Biham, he discovered differential cryptanalysis, a general method for attacking block ciphers. It later emerged that differential cryptanalysis was already known — and kept a secret — by both IBM[1] and the NSA.[2]

AKA: BITCOIN/CRYPTO TRANSACTIONS NOT SECURE

Generated a good deal of discussion.