Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[gentlemand]

Bitcoin is too volatile to act as a currency.

After all that time you've only just figured that out? Off you go then and let me offer a friendly pat on your silky buttock to help you along. If you find a cheeky finger in your crack then I hope you take it in the spirit it was intended.

[BitcoinNewsMagazine]

Can someone explain we what is going on? For the last few days everyone was talking about EFT, but today from few hours you are talking about some "BU", "Antpool", "pool"and other stuff. I'm pretty new in BTC and I don't understand what you are taking about, could someone help me?

I wouldn't know how to summarize or distill it further as you have to be somewhat familiar with bitcoin to grasp it. Bottom line if you are a new user. You are safe if you keep your coins off online wallets and exchanges as this blows over. Secure them in Hard ware wallets if you can or an offline computer.

Why do you recommend this ? Some people are here to trade and invest and buy-sell- sell-buy... why if i have coins to the exchange i maybe have problem?
( don't tell me is not safe like gox we all know that but it's the price to pay if something happen in case of hacker - or government we know that, at least we took a lesson with gox )

but what this have to do?

It is all about having options. If there is an imminent hard fork you want to have possession of your private keys as you have more options. The safest most private way is to run a Bitcoin Core node on a home computer. Second would be a hardware wallet like Trezor or Ledger Nano S.

[BitcoinNewsMagazine]

You can use a Trezor with Electrum. If you are going to use a local bitcoin wallet like Core that does not support hardware wallets YET use a real good password.

[Master mind]

Bitcoin is too volatile to act as a currency.

After all that time you've only just figured that out? Off you go then and let me offer a friendly pat on your silky buttock to help you along. If you find a cheeky finger in your crack then I hope you take it in the spirit it was intended.

[Arcteryx]

Anybody else getting nervous about next week?
I don't know whether to sell or buy right now.

[BlindMayorBitcorn]

Bitcoin is too volatile to act as a currency.

After all that time you've only just figured that out? Off you go then and let me offer a friendly pat on your silky buttock to help you along. If you find a cheeky finger in your crack then I hope you take it in the spirit it was intended.

[BitcoinNewsMagazine]

You can use a Trezor with Electrum. If you are going to use a local bitcoin wallet like Core that does not support hardware wallets YET use a real good password.

Okay, one more question, why should I combine Trevor with electrum?

I thought only online wallets such as blockchaininfo wallet are vulnerable to hackers.
I thought that Electrum wallet is not possible to be hacked (if yes, how?).

Any wallet that exposes your private keys can be hacked. Keylogger malware can steal your password or a trojan could substitute a different bitcoin address. Bitcoin Core is still the most private way to use bitcoin but it is ultimately not as secure as a hardware wallet. The most secure way to use Bitcoin Core is to run Armory on top of it in cold storage mode. Needs two computers one always offline for the Armory wallet with private keys.

[Master mind]

Anybody else getting nervous about next week?
I don't know whether to sell or buy right now.

[DieJohnny]

GBTC spiked today... institutional money betting on approval..... ?

[Johnny00]

You can use a Trezor with Electrum. If you are going to use a local bitcoin wallet like Core that does not support hardware wallets YET use a real good password.

Okay, one more question, why should I combine Trevor with electrum?

I thought only online wallets such as blockchaininfo wallet are vulnerable to hackers.
I thought that Electrum wallet is not possible to be hacked (if yes, how?).

Any wallet that exposes your private keys can be hacked. Keylogger malware can steal your password or a trojan could substitute a different bitcoin address. Bitcoin Core is still the most private way to use bitcoin but it is ultimately not as secure as a hardware wallet. The most secure way to use Bitcoin Core is to run Armory on top of it in cold storage mode. Needs two computers one always offline for the Armory wallet with private keys.

As hardware wallet you mean wallet on USB or other offline device, right?

Lets say i created wallet with Electrum, then someone infects my PC with keylogger. All what he can get from me is just my wallet password - is it enough to steal my coins?

From what I know hacker can also hack my computer and steal my private keys which are located on my PC - but they are encrypted, right? What is required to decrypt them?

Whats the best way to save your bitcoins? just cold storage bitaddress.org?

[DieJohnny]

Anybody else getting nervous about next week?
I don't know whether to sell or buy right now.

Place your bets.... I think we will witness chaos either way.

[jjacob]

Anybody else getting nervous about next week?
I don't know whether to sell or buy right now.

Place your bets.... I think we will witness chaos either way.

That is true. If anybody has a leveraged position, he is either going to get bankrupt, or very very rich.
I don't have the stomach to take those kind of risks.

[Spaceman_Spiff]

Can someone explain we what is going on? For the last few days everyone was talking about EFT, but today from few hours you are talking about some "BU", "Antpool", "pool"and other stuff. I'm pretty new in BTC and I don't understand what you are taking about, could someone help me?

I wouldn't know how to summarize or distill it further as you have to be somewhat familiar with bitcoin to grasp it. Bottom line if you are a new user. You are safe if you keep your coins off online wallets and exchanges as this blows over. Secure them in Hard ware wallets if you can or an offline computer.

Why do you recommend this ? Some people are here to trade and invest and buy-sell- sell-buy... why if i have coins to the exchange i maybe have problem?
( don't tell me is not safe like gox we all know that but it's the price to pay if something happen in case of hacker - or government we know that, at least we took a lesson with gox )

but what this have to do?

It is all about having options. If there is an imminent hard fork you want to have possession of your private keys as you have more options. The safest most private way is to run a Bitcoin Core node on a home computer. Second would be a hardware wallet like Trezor or Ledger Nano S.

Wait, Electrum is not safe anymore?

Do I understand correctly that some safety gap appeared in bitcoin world in the last few days?

Not really.  They are discussing the possibility of a hard fork in the bitcoin blockchain.  There is disagreement about how to scale bitcoin and 2 camps have formed.  If a cryptocurrency is hardforked, it can turn into 2 new currencies (see ethereum and ethereum classic).  If you control the private keys of the pre-fork coin, you will have both coins after the fork.  However, an exchange could perhaps not recognize 1 of the 2 coins and give you only the 1 they consider legitimate.  That's why its safe to control the private keys prior to a hardfork.
Also, after the hardfork you want to make sure that sending your coins on 1 chain doesn't result in somebody stealing your coins on the other chain (I think, not an expert).

[DieJohnny]

Anybody else getting nervous about next week?
I don't know whether to sell or buy right now.

Place your bets.... I think we will witness chaos either way.

That is true. If anybody has a leveraged position, he is either going to get bankrupt, or very very rich.
I don't have the stomach to take those kind of risks.

I am not leveraged but i am way overweight on btc ownership... i am deciding whether to liquidate into dollars for the next week or so....

[Arcteryx]

Anybody else getting nervous about next week?
I don't know whether to sell or buy right now.

Place your bets.... I think we will witness chaos either way.

That is true. If anybody has a leveraged position, he is either going to get bankrupt, or very very rich.
I don't have the stomach to take those kind of risks.

I am not leveraged but i am way overweight on btc ownership... i am deciding whether to liquidate into dollars for the next week or so....

So your saying don't bet the house and all your assets on it?
I would imagine there are people who have everything based on the result of it either passing or failing.
There will be people jumping from their windows that day if they did or if they didn't get in on any of the action.

[Syke]

Anybody else getting nervous about next week?
I don't know whether to sell or buy right now.

Buy, definitely.

[jbreher]

BTC as their intergalactic currency tomorrow

Absurd. The speed of light makes the ten-minute block interval unsuitable for even Earth-Mars currency.

[jbreher]

Antpool just started mining BU blocks.

And there seems to be some brewing drama regarding UASF and dingy miners who are threatening to split the network with BU (shitcoin)

The sooner Chinese miners are sold for body parts by their government the better. They shouldn't have the power that they do. Let them fork off but it would be a worry unless there was some way of truly disposing of them with a PoW change. That may well invalidate the non BU miners too though.

You do realize that UASF is User Activated Soft Fork, right? Don't be hatin' on the miners for that.

[jbreher]

Actually its a bit hard for me to understand how someone who has invested millions in hardware can risk that by running untested stoftware coded by some hobby programmers...

They're not. They're running BU.

[jbreher]

Acutally if a hostile fork happens then almost the whole network will reject the invalid blocks
They could fuck up bitcoin really bad.

If almost the whole network rejects these blocks, then in what way will it 'fuck up bitcoin really bad'?