Did anyone really believe BTC was "untraceable"? You can literally trace every transaction. This feels like ignorance on the hand of BTC investors.
Bitcoin extends losses after U.S. seizes most of Colonial ransom
41–50 of 116 posts
Re: Bitcoin extends losses after U.S. seizes most of Colonial ransom
#42Event 1 as story 2 happens. This always drives me nuts about financial reporting.
Recently I saw a WSJ article where they surprisingly couldn't find a story 2, and so it said something like: stock prices decline as investors sell risky assets
Which is almost a tautology, so idunno, maybe that's better than the usual thing, but then scroll down the article and it says bond prices were also down as investors also sold their less risky assets
Re: Bitcoin extends losses after U.S. seizes most of Colonial ransom
#43More detail on how they managed to get access to that password/private key? Edit: I found the bitcoin address https://www.blockchain.com/btc/address/bc1q7eqww9dmm9p48hx5y...
If it was not hacked then I believe the implication is that the key was cracked. Presumably, via brute force capability of unknown nature or a weakness in Bitcoin not known at this time.
as far as I know the chances of doing this are far less possible than sending your 'tradicional forces' to get the private key..
Re: Bitcoin extends losses after U.S. seizes most of Colonial ransom
#44More detail on how they managed to get access to that password/private key? Edit: I found the bitcoin address https://www.blockchain.com/btc/address/bc1q7eqww9dmm9p48hx5y...
If it was not hacked then I believe the implication is that the key was cracked. Presumably, via brute force capability of unknown nature or a weakness in Bitcoin not known at this time.
> If it was not hacked then I believe the implication is that the key was cracked.
Is anyone here willing to say they believe the key was cracked? Seems extremely implausible to me.
Re: Bitcoin extends losses after U.S. seizes most of Colonial ransom
#45Event 1 as story 2 happens. This always drives me nuts about financial reporting.
My rule of thumb is that at least 50% of a financial headline is true. The up/down part is safe to assume as true (at least at the time of publication), and the “because of” part is almost always complete conjecture.
Re: Bitcoin extends losses after U.S. seizes most of Colonial ransom
#46More detail on how they managed to get access to that password/private key? Edit: I found the bitcoin address https://www.blockchain.com/btc/address/bc1q7eqww9dmm9p48hx5y...
I'd wager it was passed as a message in the ANOM app.
I don't think it's coincidence that these were news-worthy on the same day.
Re: Bitcoin extends losses after U.S. seizes most of Colonial ransom
#47I hope they start seizing Ethereum because it would show how not decentralized and not secure proof of stake system is.
Excuse my ignorance but, how would it show that? Gaining credentials to a wallet does not appear to me to show that the Ethereum proof of stake system is not secure.
Re: Bitcoin extends losses after U.S. seizes most of Colonial ransom
#48Event 1 as story 2 happens. This always drives me nuts about financial reporting.
Now the drop seemed to happen at 2:45am UTC. Is that when the government seizure was revealed? That might give weight to a causal explanation.
Re: Bitcoin extends losses after U.S. seizes most of Colonial ransom
#49Earlier quoted context omitted.
Bitcoin says that whoever has the private key controls the funds. In this case, whoever was in custody before the FBI took the funds was seriously negligent in protecting their private key (which is not that hard to do).
https://xkcd.com/538/
Pretty much what I'm assuming happened.
Re: Bitcoin extends losses after U.S. seizes most of Colonial ransom
#50More detail on how they managed to get access to that password/private key? Edit: I found the bitcoin address https://www.blockchain.com/btc/address/bc1q7eqww9dmm9p48hx5y...
I saw this in the news today. No idea if it's what happened, but it sounds like law enforcement runs infrastructure used by organized crime.
https://www.engadget.com/fbi-encrypted-chat-app-anom-crimina...
And this is on HN:
https://www.npr.org/sections/money/2012/11/20/165590860/epis...