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m_of_a
One of these days you're going to have to tell us what that equation is... I checked a couple of math sites awhile back, wasn't at any of them, similar ones, but....
https://www.wolframalpha.com/Here goes. Doxed. [edited out] |
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... fiatleak.com is a website that has been around for years, but has evolved rather nicely. I have been looking (somewhat randomly over the past couple of days) at the site and monitoring it to get some ideas as to Alts that may be of interest to me, I am still a BTC Maximalist for now, but willing to take a look. A notion has occurred to me: it might be possible to get an idea of "quality" Alts based on the exchange activity (that's what it apparently shows, sales of crypto for fiat via exchanges) shown at the site. This might yield similar information to looking at $-volume of these Alts at coinmarketcap.com, that would make sense, but I have yet to try and correlate the fiatleak graphics with the data at coinmarketcap. My question for you guys would be: Would relatively larger trading volumes roughly correlate with that "Alt's Quality"?The Alts with the greatest apparent volume bought would be, in rough order: ETH, ADA, LRC & MATIC (tied), LINK/ALGO/ATOM (roughly tied), so would appear to be the "quality plays". Your thoughts? (I exclude SHIB and DOGE from this question, as clearly they are Alts with no "intrinsic value" (I'm just interested in making money, could G.A.S. about jokes & memes, etc.). I also exclude LTC, as BTC serves me already pretty well as a purely MONETARY function.)Edited for clarity |
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... JJG #603621 I started my real sales (joining Gemini to do so) in Jan 2021, I sold in small pieces from ~$40,000 down to some $30,000, up to that local peak of ~$64,000, down to $40,000, some up near the ATH of ~$66,000 and small amounts afterwards. Average: some $42,000 and change (so not the best timing, it's all on my spreadsheet for the IRS). Long term gains.  In retrospect, it looks like I sold a bit too much, so I decided this year that if/when the price went below my 2021 average sale amount, that I would buy a smidge. I'd like to get my BTC balance a little bit higher, so if we go down, I will buy poco-a-poco until I feel like I'm done. This is actually pretty similar to what I did back in 2017 and 2018, I sold bits off (actually I traded BTC for gold, the only way to easily capture my gains at that time for me) as BTC was running up hard, and a bit on the downslope after the 2017 peak. I did buy later, in 2018 and subsequent years, as the price went down in the Crypto Winter. THIS time I may have jumped the gun re buying (too soon?), but so what. As I have written before, BTC has been extremely good to my family. I will have a nice Cap Gain tax for our buds there at .gov. So, it's all good. My "DCA methodology" is not really that, but fairly similar, similar enough. I have no idea how long it will/may take for me to start selling again, check with me once we reach, say $80,000... If it works out like 2017/2018 and 2021, then great. If it doesn't, my gains are still far more than I invested. And much of those gains are already locked up for our two very young grandsons. Edited for clarity Edit 2. Yes, by happy chance I recently did get a monetary gift, that made my buying decision a little easier. |
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I am a BTC maximalist (at least to date) and am considering an Alt or two or three to balance out my HODLings. Two I am looking at are the financial oriented Alts that (maybe?) the banks may use:
XRP (Ripple)
XML (Stellar)
XPR has a larger market cap, 5 times XLM. XLM was forked off from XRP.
As I am not a banker, I would appreciate any good observations. Thanks!
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m_of_a
One of these days you're going to have to tell us what that equation is... I checked a couple of math sites awhile back, wasn't at any of them, similar ones, but....
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I bought a little early today at ~$38,500. Will HODL. I hope I can summon the discipline to buy @DCA as JJG always suggests. Based on the Stonk Market, I hope it's not going " to be one of those weekends".. |
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Alternatively, if you want to store large amounts and do not trust the built-in random number generators, you can buy, for example, a Keystone wallet and use it only to generate seed phrases using dice, and then use this seed in other hardware wallets.
It would not be bad if someone from the manufacturer created a separate inexpensive device for generating seed phrases using dice or coins, and also had a built-in mnemonic converter Ian Coleman.
There is one device like this made by hardware wallet manufacturer Ellipal, and it has one purpose to be Mnemonic Phrase Generator with BIP39 standard. They claim it is true random generator device that is offline and they call it ELLIPAL Joy, second claim is they are open source but I couldn't found any source code on github last time i checked. Note that I didn't test this device that was released recently, and I don't recommend it to anyone but it can be purchased for $39.90 currently.  https://www.ellipal.com/pages/ellipal-joy-mnemonic-generatorAnother free, safe and offline alternative is to use your own physical dices for generating seed words, without use of any device. Later you can import this to any wallet you want, including hardware wallet. Interesting device. Even were it NOT able to generate fully random seed words using the generator, you could get *pretty close* by doing something like below:
1. Decide: 12 words? 24 words? (etc.)
2. Generate a 12 word wallet, write down the last 6 words only
3. Generate another 12 words, write down every "even number" word (the second, fourth, sixth, eighth, etc.)
4. Combine the above 12 words in whatever order you decide, this would serve as your "plan" for generating future seeds
5. Remember your "plan", do it the same way each time in the future
6. And add the "13th Word" (24th) for added security to your HW wallet* * * Perhaps the time comes when we would all like to see an easy and quick way to generate seed words by hand from the Github word list ( https://github.com/bitcoin/bips/blob/master/bip-0039/english.txt). 2048, I believe is 2^11. Would that imply that you could get 11 coins (same coins, good condition), and do the below?
1. Toss the coins down, start next step with the coin furthest left (for example)
2. If "heads", that would direct you to the first half of the BIP 39 list, "tails" the second half
3. Next coin, the heads the first half of remaining words from step 2, tails the second
4. Next coin, same procedure.
5. After doing the above with the 11 coins, you have your first word
6. Repeat coins toss for second word....
You see? Not so easy nor quick. Quick and easy random is not so quick... Thoughts?
(Octahedral dice might save a little time, but...)EDIT: The below link will take you to an article by "Arman the Parman", where he details a way to generate your own seed. https://bitcoinmagazine.com/culture/diy-bitcoin-private-key-projectAlas, it is still neither quick nor easy to do this.. |
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I think it’s looking pretty obvious now that the bull market is over. It shouldn’t bother any of you on a long time preference. I sold nothing in the 2017 bull & regretted it for ages. Didn’t make the same mistake this time, dumped 25% of my bags between 53.8k & 65k, set for life & now, seeing this dump & likely transition to bear market……  We're probably going to 30k in the next 12 months, I will buy back what I sold there. If not, no problem, 75% of stash locked away. I hope none of you made my 2017 mistake & deludedly thought bitcoin won’t go down. If you did, I hope you can live peacefully until the next bull cycle which will start in 2024. If you sold nothing don’t worry, we will hit 100k & above but not in 2022 & most likely not 2023 either. 2024 & 2025 we ride again. I'm somehow not completely sure about that. Something is not as it looks. Maybe I'm too naive or it's just my wishful thinking but I've got a feeling Bitcoin is going to surprise us again (in a positive way) win 2022.  P.S. I made your 2017 "mistake" but can it be called so? Time will tell... I sold about 40% of my BTC stash from Jan - Oct (2021) in many small increments. My average sale price was some $42k and change (so timing was not the best, but BTC price now below my average sale price). Very low cost basis, so will pay a hefty Cap Gains tax for 2021. That allowed me to fund-up our two grandkids. I am wondering when to get back in. Perhaps if we decline to Novogratz's $38,000 - $41,000 (approx) might be a good time to nibble. If we rebound strongly from here, that's OK too, I still have the 60% left. Would I sell any later? Talk me at $80k, and we'll see. |
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However, what I don't understand is how actually we can verify that mnemonic phrases, which are being shown upon initial setup, really come from these random numbers. As far as I know, no hardware wallet shows you the initial entropy from which the mnemonic seed phrase is generated. That means we can't verify the result if we don't know what the initial data was. What if they generate truly random numbers, but then give us completely unrelated results, that is, pre-made malicious phrases?
Not quite clear what you mean? The wallet, having generated a random number (for example, 256 bits), adds 8 bits of the checksum and sends it to a function that converts it to base 2048 and outputs 24 numbers of 11 bits each, which is then replaced with the corresponding word from bip39 dictionary. All this is easily verified. Or do you think there may be a second fake random number generator in the wallet? Maybe there's a quick-n-dirty workaround to this issue for us non-tech folks. 1. Create a new wallet in Wasabi (or most other wallets, any that you feel you can trust), write down the words... 2. Create a few receive addresses (easy in Wasabi) 3. Then "restore" that wallet into your hardware device 4. Send off one, two or three small separate amounts; check that the receiving addresses in your HW wallet match those in Wasabi The only issue I see (but invite critiques) is that your HW wallet will "have touched the internet". Which might be corrected (?): 5. Send off BTC from your HW wallet to another wallet 6. Delete your HW wallet 7. Create a new wallet in your HW 8. Fund that with small amount(s) 9. Send that amount out to another wallet (as in 5) 10. Create another new wallet in your HW device... |
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Eeek! BTFD time? When it hurts to pull a trigger...
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... I could not find out either here or at wasabiwallet.io if Wasabi can back up wallets that have 24 word seeds. Various wallets give you a 24 word seed for backup purposes. I have used Wasabi to back up 12 word seeded wallets, but cannot find anything on those wallets using 24. * * * Also re Wasabi, I noted at their site it *looks like* their CoinJoin tool can back up multiples of the approx. 0.1 BTCminimum (eg, 0.2 BTC. It also looks like if you want to CoinJoin, say, 0.7 BTC, Wasabi will then send 0.4, 0.2 and 0.1. I one tried to CoinJoin 0.2 BTC way back when, and it did not work. Yet, the below link (maybe there have been some changes?) says that Wasabi will support other amounts than 0.1: https://docs.wasabiwallet.io/FAQ/FAQ-UseWasabi.html#what-are-the-equal-denominations-created-in-one-mixing-round |
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[edited]
We are visiting another country now, and I was able to get both IVM and HCQ in nice quantities (via (a cheap) doctor's Rx). MUCH cheaper here than in the US "grey market", although the locals tell me that the prices for IVM and HCQ are much higher than a few months ago. If you travel, it's worth asking...... |
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Recently I have found two:
-- a place in the USA (works with LibertyX, whom I have written about before, this place wants 8% commission)
-- a foreign exchange place in Peru, the owner does the TX (5% commission), he says BTC is catching on there.
And IIRC atmcoinradar.com continues more and more growth of ATMs around the world.
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mempool.space still has their lil ol fireworks show still running...
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Taproot activates in the next couple blocks!
Get ready for green dildos... and stuff.
EDIT: Also, 100 channels even, on my LN router. I'm done. No more.
(...for now?)
Yeah, I think I'll stay up and watch for a while. As of now, mempool.space says three more blocks. Please fill us in at some point with how Taproot works for your LN. BTC price just crossed $65,000. |
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Well, I guess the moment has come. I've been a "lurker" for a year now, maybe even more, been following the forum but mostly this thread in particular and a bit of the Italian board on a daily basis, with the occasion of the new ATH break today, seeing the Helicopter being adopted again after some months just gave me an inner feeling I had to do it... I decided to finally sign up my account here on bitcointalk. What else can I say other than a big hello to everyone, and keep the #hodl strong! Have a great day/night  Welcome! You picked a great day to join W.O. |
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