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

[rolling]

Does anyone know if PP will let merchants accept BTC?

This could be a game changer, we could be pricing goods and services in BTC.
It's easily implemented as PP already accepts foreign currencies (EUR/USD/GBP etc) and BTC would be just another currency.

No, they won't.

I can't access my paypal at the moment so I would like to make a few questions about the bitcoin's adoption.

Do they allow you to send your bitcoins to any address you want? Or they simply keep your bitcoins but they say you own them?
Also, is there any new tax about cryptocurrencies?

Any small fee? There must be something.

Last one, from what exchange do they calculate the price? Do they write such thing?

Read the last couple of pages of the thread.

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[sirazimuth]

All this talk about grannies .....

To all those bitcoiners who will see grannie at the Thanksgiving table (or maybe cousin Mel or
even drunk Uncle Norm)
DO be subtle. No checking the ticker on your fondle slab every 30 seconds. 5 minutes is acceptable
seeing how everyone else will be swiping, texting and/or twitting so no one will notice anyway.
DON’T be bitcoin blabbing. No one is interested in that crazy shit especially if it doesn’t involve
Instagrams or a cat face.
IF anyone does actually ask you about it out of the blue,(apparently Cousin Mel may have heard that you
invested in that “crazy internet ponzi thingie”) keep answer short and sweet then
deflect....for example... “ oh yeah, I bought some a few years ago just for a laugh, don’t pay
much attention to it these days tbh....say, how’s Martha and the kids? Does Wanda still see
that crazy boyfriend of hers? ha ha ha! ......”

You know... that sort of thing....

[eddie13]

My Granny asks me sometimes how my weird stocks are doing..
She is interested but I tell het that it could all crash to nothing or go to the moon basically..

I do give her a bit of investment advice, in that she should get her money out of fiat and put most of it into gold atleast, and tell her that I'd put like 2% into BTC if I was her just for the gamble, but I never really try to get her to do anything..

She still like, writes personal checks for all her bills, and balances her checkbook against her statements..
I ask her "What are you doing? Checking the banks math?".. Granny, "Yes"..

I keep trying to get her to just put the bills to her CC and then pay that once a month, or get auto withdrawal set up, but nope, I guess she loves writing all those checks, actually mailing them, and balancing her checkbook still..


I get other people and family asking me about BTC often but I don't really have the breath to explain it all to them every time..
I just basically tell them that yeah it's crazy but I believe..


Granny also has a hard time believing that my little brass coin with a sticker on it is worth more than her sealed graded gold coins, but whatever..
Especially when I tell her what I paid for it and what it is now worth in the relatively short amount of time I have had it, just a few years..

[Cryptotourist]

To all those bitcoiners who will see grannie at the Thanksgiving table (or maybe cousin Mel or
Even drunk Uncle Norm)
DO be subtle.

Or just admit the whole truth and nothing but the truth, by the "have fun staying poor, with your crazy paper money ponzi" angle.
THEN refuse all other related interaction, and move on to "how Wanda has grown and looking ever so hot".

Subtle it is, gotta respect the fam.

[600watt]

All this talk about grannies is making me sad on at least two levels.  Both of my grannies passed away well before the idea of Bitcoin was conceived (there are two levels in there).  Even if they were still alive, I would never have subjected them to the Bitcoin hell that is hodler; it was stressful enough for them to adapt to the remote control TV and cable box and I never could get them to ditch the cheque book for a debit card. 
 I say we leave the grannies out of this and just buy them a nice present when it's all over.  You cant go wrong with a cardigan for the elderly - anywhere in the world and any time of year. 

my 94 year old grandma called me up in February or March 2017 and told me she would like to invest a few k € into btc. since the KYC/AML bullshit seemed to complicated I asked her if she would buy from my stash and she agreed. I kept the btc in my custody until I found a wallet she could use (trezor screen and buttons are way too small for someone in her 90ies). When price had tripled later in 2017 she called me up and told me she decided to sell the btc. so I handed out 3x the money she had given to me. I feel robbed  

[hisslyness]

All this talk about grannies is making me sad on at least two levels.  Both of my grannies passed away well before the idea of Bitcoin was conceived (there are two levels in there).  Even if they were still alive, I would never have subjected them to the Bitcoin hell that is hodler; it was stressful enough for them to adapt to the remote control TV and cable box and I never could get them to ditch the cheque book for a debit card. 
 I say we leave the grannies out of this and just buy them a nice present when it's all over.  You cant go wrong with a cardigan for the elderly - anywhere in the world and any time of year. 

my 94 year old grandma called me up in February or March 2017 and told me she would like to invest a few k € into btc. since the KYC/AML bullshit seemed to complicated I asked her if she would buy from my stash and she agreed. I kept the btc in my custody until I found a wallet she could use (trezor screen and buttons are way too small for someone in her 90ies). When price had tripled later in 2017 she called me up and told me she decided to sell the btc. so I handed out 3x the money she had given to me. I feel robbed  

Sounds like PayPal copied your business model!...

[VB1001]

What's Coming To The Bitcoin Core Wallet in 0.21

https://achow101.com/2020/10/0.21-wallets

[vapourminer]

She still like, writes personal checks for all her bills, and balances her checkbook against her statements..
I ask her "What are you doing? Checking the banks math?".. Granny, "Yes"..

I keep trying to get her to just put the bills to her CC and then pay that once a month, or get auto withdrawal set up, but nope, I guess she loves writing all those checks, actually mailing them, and balancing her checkbook still..

i still run my stuff through a printing calculator. old habits and such. nothing like a real paper trail.

for those ancient peeps with their intel 486s cruising through ebay all day.. all have paypal and now bitcoin is just another buy. just click.

go grandma.

[LFC_Bitcoin]

What's Coming To The Bitcoin Core Wallet in 0.21

https://achow101.com/2020/10/0.21-wallets

Not keen on the bit titled Compatibility down the bottom -

Unfortunately, to make progress, sometimes compatibility needs to be broken. Sometimes the past needs to be left behind. As the Bitcoin Core wallet moves to making Descriptor Wallets the default, and later, only, wallet type, a future release of Bitcoin Core will no longer be able to open Legacy Wallets.

https://achow101.com/2020/10/0.21-wallets

(It does go on to say it will be 2023 when the final change is made)

[vapourminer]

What's Coming To The Bitcoin Core Wallet in 0.21

https://achow101.com/2020/10/0.21-wallets

Not keen on the bit titled Compatibility down the bottom -

Unfortunately, to make progress, sometimes compatibility needs to be broken. Sometimes the past needs to be left behind. As the Bitcoin Core wallet moves to making Descriptor Wallets the default, and later, only, wallet type, a future release of Bitcoin Core will no longer be able to open Legacy Wallets.

https://achow101.com/2020/10/0.21-wallets

(It does go on to say it will be 2023 when the final change is made)

errrr


nope nope nope nope nope

[LFC_Bitcoin]

They’ll give tips on how to migrate to the new type of wallet but the majority of my coins are in Legacy addresses.

Anybody else got thoughts on this?

[bitebits]

Just don’t update your client LFC, it will remain working just fine.

[VB1001]

They’ll give tips on how to migrate to the new type of wallet but the majority of my coins are in Legacy addresses.

Anybody else got thoughts on this?

Experimental Descriptor Wallets
Please note that Descriptor Wallets are still experimental and not all expected functionality is available. Additionally there may be some bugs and current functions may change in the future. Bugs and missing functionality can be reported to the issue tracker.

0.21 introduces a new type of wallet - Descriptor Wallets. Descriptor Wallets store scriptPubKey information using descriptors. This is in contrast to the Legacy Wallet structure where keys are used to generate scriptPubKeys and addresses. Because of this shift to being script based instead of key based, many of the confusing things that Legacy Wallets do are not possible with Descriptor Wallets. Descriptor Wallets use a definition of "mine" for scripts which is simpler and more intuitive than that used by Legacy Wallets. Descriptor Wallets also uses different semantics for watch-only things and imports.

As Descriptor Wallets are a new type of wallet, their introduction does not affect existing wallets. Users who already have a Bitcoin Core wallet can continue to use it as they did before without any change in behavior. Newly created Legacy Wallets (which is the default type of wallet) will behave as they did in previous versions of Bitcoin Core.

The differences between Descriptor Wallets and Legacy Wallets are largely limited to non user facing things. They are intended to behave similarly except for the import/export and watchonly functionality as described below.

Creating Descriptor Wallets
Descriptor Wallets are not created by default. They must be explicitly created using the createwallet RPC or via the GUI. A descriptors option has been added to createwallet. Setting descriptors to true will create a Descriptor Wallet instead of a Legacy Wallet.

In the GUI, a checkbox has been added to the Create Wallet Dialog to indicate that a Descriptor Wallet should be created.

Without those options being set, a Legacy Wallet will be created instead. Additionally the Default Wallet created upon first startup of Bitcoin Core will be a Legacy Wallet.

https://github.com/bitcoin/bitcoin/blob/master/doc/release-notes.md#experimental-descriptor-wallets

[El duderino_]

I think the fear is for the shorters now. They come here with the hope to share some of their own fear in their utmost stupidity that some people will be afraid to buy now. This will destroy their plans, hence so many of them appeared like a rain worms after a rain here. I know that nobody here is afraid to buy at dips. I am no exception. I bought yesterday with half of my savings, and leaving the rest for 2 weeks, in case some unexpected expense arises. Guess what! I've sent today the money and I am also preparing some extra income for the next week to be used for Bitcoin. Let's punish the manipulators, dear fellow bulls! I don't care really about the price but when someone is trying to manipulate the market, I can sense it and the statistics prove it. Open season for bear hunting starting in 3....2.....1!

For years now science has proven that bears will win with high leverage shorting maneuvers. Bitcoin is most profitable as a shorting instrument, and you can see it clearly in the mathematics of market science as I've already indicated and confirmed above.

Eeeeeeuhm updates fear and greed

Update math’s

Thx

[lightfoot]

So where are all the train pictures? I especially loved the CCMF snowpiercer one....

[cAPSLOCK]

They’ll give tips on how to migrate to the new type of wallet but the majority of my coins are in Legacy addresses.

Anybody else got thoughts on this?

Will past wallets still work?  If so then you can always download a previous version and move the coins.  No biggie.

On the other hand it could take some of the scare away from the Satoshi coins moving ever, lol.

by the way.. were I holding lots of teeny utxos especially tied legacy addresses I would be consolidating those pretty soon.  Like this Sunday maybe?

[rdbase]

Looks like the train is not stopping at the station.
All aboard!

This is certainly a revolutionary moment in BTC history.. if they do it right!


Crypto zombie had the aftermath of the paypal-pocalypse and it doesn't make it sound as bad I thought it would be actually.
https://www.youtube.com/watch?v=e29WNsSaRXA&t=666s
From what they had put in their advertisement they will allow you to sell your crypto, but my question to that is: at what cost?
Atleast you will be able to purchase goods with the crypto you will purchase from them.

Buying from Ebay will be better cause I have had to sell my crypto at a loss to get paypal. If it is atleast 5-7% of the bitcoin value than I will be fine with that.

[bitebits]

https://twitter.com/swanbitcoin/status/1319289594345443329

Paul Tudor Jones likes his inflation hedge better than when he bought the corn. Because he now starts to better understand what he bought in to. Like all of us.

[acquafredda]

This is my take about PP:
"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety."

We have been gifted something which allows us to be our own bank and I do not care if Bitcoin is hard to be understood and used after eleven years.

I may concede that this could look like a battle won nonetheless if we can't bring more people on the real deal, eventually we will lose the war against incumbents which are slowly marching upon us.

Am I the only one here who thinks like this? 

[lightfoot]

Am I the only one here who thinks like this? 

Not really. I've been with the Internet since CHAOS days. Granted when AOL came onboard it fucked a bunch of things up, but the basic premises of the net is that anyone can host content. Yes lots of people use stupid ass services, but I can still run a mail server, web server, TOR server, and it's just as valid as Google's trashpot.

Same with Bitcoin. People who want the real deal will still be able to get it, this is a convenience layer on top of it.