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LukeDashJr. Hacked, Bitcoin's Birthday, SBF Update - Week 21
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News
LukeDashJr Hacked
On January 1st, LukeDashJr, a prolific Bitcoin Core developer, said his Bitcoin wallet was hacked.
It is thought that he kept his PC secure through specific PGP techniques while at the same time storing his private keys on his PC connected to the internet (considered a bad practice by most Bitcoin users).
Samourai Wallet has been tracking the coins through the transparent Bitcoin blockchain. According to the security wallet, the funds have not gone through any obfuscation, directly contradicting what Luke has said.
Luke-jr stolen coins on the move. Started a peel chain. The bulk of the continuing to p2pkh address and a smaller amount peeled off to p2sh address remaining unspent.
The last two peel address type changed to p2wpkh (different wallet? accomplice?)
oxt.me/bookmark/63b50…
— Samourai Wallet (@SamouraiWallet)
Jan 4, 2023
Bitcoin’s 14th Birthday
The first Bitcoin block was mined 14 years ago on January 3, 2009.
It was the start of an experiment that has brought us to today. Through chat rooms, open source development, and adoption, Bitcoin has become the behemoth it has today. Trillions of dollars worth of value are now transferred through the Bitcoin network each year.
Bitcoin has come a long way since Satoshi Nakamoto created it and disappeared.
Aug 15, 1971: Nixon closes the gold window
Jan 3, 2009: Satoshi mines the genesis block#Bitcoin is over 27% as old as the post-fiat dollar.
Bitcoin has been a clear success, while the USD remains a wildly destructive and highly experimental currency.
— Bitstein (@bitstein)
Jan 3, 2023
SBF Pleads Not Guilty
A quick update on Sam Bankman-Fried and FTX:
SBF pleaded not guilty to US charges yesterday.
This was after his two cofounders pleaded guilty, creating confusion in the case. SBF also met with the White House in Washington DC earlier this week to discuss “pandemic prevention” concerning the money donated through his foundation.
Price
Over the past month, since the price hit up to $18,000, Bitcoin has continued to go sideways. This sideways and stable price action usually means there will be a big move in price very soon.
The chart below shows the 3D (3 day) chart of Bitcoin’s price since April 2020 with the Bollinger Bands indicator.
The Bollinger Bands get tight when an asset experiences price stability. Once the bands get tight, it usually means a big price move is coming.
The last time Bitcoin’s 3-day Bollinger Bands tightened this much was July 2020. The price broke up and that ended up marking the start of Bitcoin’s price run from around $9,000 USD to $60,000.
There is more evidence of the Bitcoin Halving cycle showing we are nearing cycle lows. Historically, Bitcoin has bottomed around this time in terms of how many days have passed since the halving.
Tweets
Thread of the week
Bitcoin mining revenue grows more slowly than market cap and transfer volume, as the block subsidy winds down and trends towards transaction fees only.
This is what people get wrong when they incorrectly think that bitcoin's energy usage is an exponential problem.
— Lyn Alden (@LynAldenContact)
Jan 3, 2023
Which is Illicit Activity
Bank fines since 2000: $343B
Bitcoin market cap: $319B
Which one is used for illegal activities again?
— Dan Held (@danheld)
Jan 1, 2023
Map of the Bitcoin Network
An incredible map of the #bitcoin network
— Alejandro (@Alejandro_btc)
Jan 4, 2023
Easy to Use Multisig Wallet Under $40
The Affordable Multi-sig demo 💪🚀
(Under ₹3,000 or $40)Step 1: A Pleb 🧑🎓upgrades to become a Hodler🫙
Step 2: Adds @TAPSIGNER 💳, Mobile Key📱and Signing Server 🎛️ as three signing devices 🔑
Step 3: Choses spending policies and creates a 2 of 3 multi-sig Vault🔥contd…
— Bitcoin Keeper (@bitcoinKeeper_)
Nov 6, 2022
Jobs
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What to read
Bitcoin Is Not A Ponzi