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

[d_eddie]

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)

I see no big issue. They explicitly state that it is, and will be, possible to replace a Legacy Wallet with a perfectly equivalent Descriptor Wallet. The bitcoin client comes with tools to do that. In other words, no coin will ever need to move to change the wallet format. I'm sure the whole thing can and will be automated. No big issue indeed.

EDIT Oops, many replies, much more timely. I am catching up, honest! Or maybe I should just jump to the present and keep the gap as it is? Choices, choices...

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[LFC_Bitcoin]

I don’t wanna jinx it but that dump was pathetic. Is that all the bears have got? Maybe there aren’t many weak hands left in this game because in the past that kind of red dildo, the other day would have caused a domino effect of pathetic weak hands panicking and selling.

We’re currently at $17,713 which is less than a $2,000 dip from the recent yearly high. If we can hold this range for a bit now then we could still see an ATH before New Year.

I dunno about anybody else but I’m bullish AF.

Still on track for moon in 2021.

HODL

[d_eddie]

SOMA.A>  ver
SOMA Analytics commandline v1.1.d_eddie
SOMA.A>  info ath
ATH within the year - possible
ATH next year - more than possible
Breathtaking, life changing ATH next year - can't rule out
SOMA.A>  quit
bye

[El duderino_]

Lockdown is a b*tch
Mike Tyson or Roy Jones jr?
Who cares, watching corn!


Haiku attempt

Actually I care, think and hoping for Tyson....

[Gyrsur]

SOMA.A>  ver
SOMA Analytics commandline v1.1.d_eddie
SOMA.A>  info ath
ATH within the year - possible
ATH next year - more than possible
Breathtaking, life changing ATH next year - can't rule out
SOMA.A>  quit
bye

[soullyG]

Is it Sunday yet?
Waiting for an ATH,
Haikus pass the time..

[explorer]

But you know what, i have been talking to people about bitcoin since like $300, so I almost wish I would have been more assertive in the past...

I have always told people that it was just crazy and could go to zero, and nobody has ever bought, but I totally should have told them stfu bitch and buy..
Hindsight is 2020 and things...

“It was just $190 and is now $700??? Sounds like it’s ““TOO HIGH”” Now“
“Yeah man, I should have bought, but it’s like $3500 now.. It’s ““Too high”””
“Wow it went to $20k? I should have bought”
“Bitcoin is ““only”” $4500 now? Lol I thought it was $20k??... Sucker..””
“You should have sold..”

Fuck em..

   None so blind as those that will not see.  I have yet to meet IRL anyone into corn, or any other virtual grain crop.  I got some family to enter, my best friend got himself well set up, and one acquaintance bought $100 worth in the fall of 2013 based on my excited state.  I don't ever discuss it now.  It's better that way, from an opsec perspective.  I can explain it to you, but I can't understand it for you.

[fillippone]

I wrote a post on Guggenheim fund investing in bitcoin even before PlanB was able to retweet it.
I Think this is a life objective.

[Biodom]

But you know what, i have been talking to people about bitcoin since like $300, so I almost wish I would have been more assertive in the past...

I have always told people that it was just crazy and could go to zero, and nobody has ever bought, but I totally should have told them stfu bitch and buy..
Hindsight is 2020 and things...

“It was just $190 and is now $700??? Sounds like it’s ““TOO HIGH”” Now“
“Yeah man, I should have bought, but it’s like $3500 now.. It’s ““Too high”””
“Wow it went to $20k? I should have bought”
“Bitcoin is ““only”” $4500 now? Lol I thought it was $20k??... Sucker..””
“You should have sold..”

Fuck em..

   None so blind as those that will not see.  I have yet to meet IRL anyone into corn, or any other virtual grain crop.  I got some family to enter, my best friend got himself well set up, and one acquaintance bought $100 worth in the fall of 2013 based on my excited state.  I don't ever discuss it now.  It's better that way, from an opsec perspective.  I can explain it to you, but I can't understand it for you.

The single friend who was mildly interested in crypto chose eth instead of btc (against my hints) in 2017, proceeded to make much paper gains, then most likely invested at least a part of those into zerp at close to ATH, and probably lost all gains. Nobody else had a mild interest. I am not sure who are those 10-20 mil people they say own btc in US. Must be people close to silly valley.

[explorer]

  Any advice on what exchange to use from the USA?  Asking for a backwards, techless  Ozark hick    funding/withdrawal options other than wire transfer?  I thought Kraken would be good, but apparently its easier to use from the North Pole than from within US. 

[Xian01]

Bad idea. Between ocean acidification and sea levels going up Fla is probably the worst real estate to buy. Nice to visit esp the panhandle, but don't live there.

Ah, that's sad to hear. Saw some beautiful properties on the water with boat slips attached, and got us thinking, but I can totally see your POV in terms of being a bad place to live. The place we have now is inland enough that it's spared most of the serious hurricane damage, but technically could flood if things get bad enough.

Will stick to Dallas. We did consider seasonal rentals in FL on the water, but, I like owning things outright.

Oh well. Again, appreciate your insight.

[vapourminer]

 Any advice on what exchange to use from the USA?  Asking for a backwards, techless  Ozark hick    funding/withdrawal options other than wire transfer?  I thought Kraken would be good, but apparently its easier to use from the North Pole than from within US.  

no advice per se but ill give a quick rundown on coinbase as ive used it since 2013 or so. be aware it gets a lot of hate for reasons but it works.

cons:

KYC to the max
they will track the shit outta you.
cant send or receive from any gambling site (pretty sure).
will sell all info they can get on you and your corn to whoever wants it.
site always seems to have "issues" when things get hot and interesting.
thoughtfully sends the IRS a 1099 form in case you forget

pros:

takes yubikey as 2fa
whitelisted withdrawal addys
a vault that time delays coins moving (optional)
links to bank account, and i think debit cards but not sure on that never used debit card there

[NetTime]

coin-baze should be avoided at all costs

[philipma1957]

 Any advice on what exchange to use from the USA?  Asking for a backwards, techless  Ozark hick    funding/withdrawal options other than wire transfer?  I thought Kraken would be good, but apparently its easier to use from the North Pole than from within US.  

no advice per se but ill give a quick rundown on coinbase as ive used it since 2013 or so. be aware it gets a lot of hate for reasons but it works.

cons:

KYC to the max
they will track the shit outta you.
cant send or receive from any gambling site (pretty sure).
will sell all info they can get on you and your corn to whoever wants it.
site always seems to have "issues" when things get hot and interesting.
thoughtfully sends the IRS a 1099 form in case you forget

pros:

takes yubikey as 2fa
whitelisted withdrawal addys
a vault that time delays coins moving (optional)
links to bank account, and i think debit cards but not sure on that never used debit card there

Coinbase is good for cash outs.

Always remember if it goes in and out of coinbase it will be tax reportable for a USA citizen.

[EatonABooger]

  Any advice on what exchange to use from the USA?  Asking for a backwards, techless  Ozark hick    funding/withdrawal options other than wire transfer?  I thought Kraken would be good, but apparently its easier to use from the North Pole than from within US. 

Gemini is great.   ACH transfers to/from bank account with very high limits.   Has always worked very well for folks (so I am told).   What is a 1099?

[philipma1957]

  Any advice on what exchange to use from the USA?  Asking for a backwards, techless  Ozark hick    funding/withdrawal options other than wire transfer?  I thought Kraken would be good, but apparently its easier to use from the North Pole than from within US.  

Gemini is great.   ACH transfers to/from bank account with very high limits.   Has always worked very well for folks (so I am told).   What is a 1099?

a 1099 is a USA tax document

like a w-2 wages form
or a w-2g retirement pension ?  have to check this. I did it is a  gambling winings form

just because it is reportable does not mean it is taxable.

1099-r is for pensions

longer list of other 1099 forms

https://en.wikipedia.org/wiki/Form_1099#:~:text=Jump%20to%20navigation%20Jump%20to%20search.%20Form%201099,tips%20%28for%20which%20Form%20W-2%20is%20used%20instead%29.

[explorer]

 Any advice on what exchange to use from the USA?  Asking for a backwards, techless  Ozark hick    funding/withdrawal options other than wire transfer?  I thought Kraken would be good, but apparently its easier to use from the North Pole than from within US.  

no advice per se but ill give a quick rundown on coinbase as ive used it since 2013 or so. be aware it gets a lot of hate for reasons but it works.

cons:

KYC to the max
they will track the shit outta you.
cant send or receive from any gambling site (pretty sure).
will sell all info they can get on you and your corn to whoever wants it.
site always seems to have "issues" when things get hot and interesting.
thoughtfully sends the IRS a 1099 form in case you forget

pros:

takes yubikey as 2fa
whitelisted withdrawal addys
a vault that time delays coins moving (optional)
links to bank account, and i think debit cards but not sure on that never used debit card there

Coinbase is good for cash outs.

Always remember if it goes in and out of coinbase it will be tax reportable for a USA citizen.

  Good to know.  I want them to be able to easily deposit/trade/withdraw a few (very) small amounts to get familiar with the process before I even consider handing over the keys I've been custodian of for way too long. 

[JayJuanGee]

By the way, with in the past day or so, I also incorporated "vapourminer lols" within my BTC sale orders in around similar price arenas that he had outlined.. largely in a symbiotic kind of a spirit of the idea... (I hate to be such a non-original copy cat... but it seemed to be just too good of an oportunidad to pass up) ... Perhaps, I will wait until after such passenings to disclose more particulars to the extent that such lols are worth mentioning and presuming that at some point in the near future (aka soon^tm) BTC price movements "force" those wannabe lols to play out.   

my sense of humor has been branded "odd" on more than one occasion. fun is where you find it.

The incorporation of such funzies into sell orders resonated with me... so maybe we are the same person.. just trying to act like we are different peeps on the interwebs?

im forced to admit my ladders are setup somewhat like yours, i set them up and then its hands off for the most part. plan the sequence best you can and then relax, the emotions can now stay out of it. when occasions warrant it i go readjust stuff. luckily i had done this like a week or two ago and fine tuned the 16k-20k range and the sells then buybacks pretty much happened all while i slept. sold at 17.5k - 18.5k or so and bought it back around 16.2 - 16.7 all preset up. almost took the fun out of it.

There are some ways to make those buy/sell orders more automatic, but I prefer an ongoing bit of hands on – to manually engage with whatever my process happens to be or an order is trigger which causes me to have to set up a counter order and to consider if I am going to tweak such order in any way or go with the default idea that I have.  Also, not only am I considering possible tweakenings, when I set up orders, whenever an order fills, I like to get in there and set the opposite side... just in case there is a quickie reversal.. If an reversal is quick, then it is like making free money...... within a very short period of time (even if the amounts are not really life change or maybe buy a steak dinner or something nice, if I were to roll any of the profits out, but usually the profits just get folded into the system for a kind of delayed gratification.

In recent times, it has been somewhat more difficult to make the free money with quickie reversals because my spreads have been getting larger and large – in terms of percentages - which is also o.k. with me because it is somewhat converting me more and more on the spectrum of becoming more of a swing trader and less of a day trader - meaning that with the passage of time my orders are tending NOT to execute as easily or as frequently as they used to do..

I am NOT sure if I will ever graduate completely to a complete swing trader who is NEVER trading some of the quick and easy moves that just allow for the stacking of both dollars and sats.. and I suppose if I just become more bored with setting buy/sell orders, then maybe I will just make the trading gap so BIG that they rarely execute.. I suppose that would be better, anyhow, to NOT really watch the BTC price on a fairly regular basis in case the price may have moved a lot.

I can hypothesize that less than 10% BTC price moves might start to feel more tedious, even though right now my orders tend to fill in a 6% to 7% range.  I recall when I was new at playing this little laddering game, my orders were like 2% or 3%, so they were triggering all the time and they were not as profitable, but gave me more practice to get used to the matter and to later slowly increase the spreads.

What I am imagining is that in the future, BTC is just going to become less volatile, so my orders are not really filling as much, even though the spread might stay in a 6% to 12% range – and maybe more so gravitating towards 12%... not sure, yet.. because I still find it fun, even 6% to 7%-ish.

my lowest "real" (as opposed to a "lulz") active buy order is at like 1k lol. dunno how long thats ones been there. think ill cancel that one and move it up  a bit heh.. that leaves 8kish is my lowest. which isnt low enough really imo. never know what honeybadger might think up. 6k sounds nice as a low.

gotta keep some lulz amounts lower (and higher) of course.

Yeah, those outrageous price moves do not seem to be happening as much anymore in bitcoin, and I think part of the reason is just that there are way more fills of order books and traders seem to be more than willing to jump in to stop the BTC price from moving outrageous amounts.

I don’t really feel that I am keeping my outrageous outlier orders out there for those kinds of slippage reasons.. but instead the buy orders down to $5k are just lingering ones, even though I am developing BIGGER and BIGGER doubts about any possibility of those orders being filled.. even sub $8k is looking at a fraction of a percentage of a chance, at best.

[explorer]

I don’t really feel that I am keeping my outrageous outlier orders out there for those kinds of slippage reasons.. but instead the buy orders down to $5k are just lingering ones, even though I am developing BIGGER and BIGGER doubts about any possibility of those orders being filled.. even sub $8k is looking at a fraction of a percentage of a chance, at best.

   But the glory of bagging the outlier!  A couple years ago I checked my bitstamp account, which I hadn't used for a while. Instead of the fiat I thought I'd left, I found a disproportionate amount of BTC.  Apparently I stuck a lowball bid in just for lulz    Sadly, I haven't caught one since.

[JayJuanGee]

The MSM is starting to run the same playbook as in early 2017.

https://finance.yahoo.com/news/analysis-feeling-lucky-bitcoiners-missed-145015022.html

Distraction, diversion, dissuasion. Hit pieces. Talk of shitcoins.

The message is the same: "Stay away from Bitcoin".

TLDR:  Have fun staying poor.

whatever all that means.

Don't be such a negative  Nancy

I have been saying:  "whatever all that means" in regards to deadman's zone, because it is a bit of an allusive concept in determining what might happen and then what ends up happening.. I am not meaning to imply anything negative when something is merely allusive.. because it is what it is.. in terms of my trying to be descriptive rather than prescriptive   - if that makes any senses.

I don’t really feel that I am keeping my outrageous outlier orders out there for those kinds of slippage reasons.. but instead the buy orders down to $5k are just lingering ones, even though I am developing BIGGER and BIGGER doubts about any possibility of those orders being filled.. even sub $8k is looking at a fraction of a percentage of a chance, at best.

   But the glory of bagging the outlier!  A couple years ago I checked my bitstamp account, which I hadn't used for a while. Instead of the fiat I thought I'd left, I found a disproportionate amount of BTC.  Apparently I stuck a lowball bid in just for lulz    Sadly, I haven't caught one since.

Like you seem to be suggesting, explorer, it seems like a bit of a long shot that might play out, and I suppose that the ONLY real cost is just tying up whatever capital that you end up dedicating towards such longshots that might be better deployed towards working for you in more meaningful ways.

For example, if you put several hundred on each exchange and each trading pair, it might start to add up to a lot of capital that is just tied up with little likelihood of actually paying off.   If you have several thousands of dollars tied up on those long shots, then it may be better odds than a lottery, but it may well end up costing you as much as buying lottery tickets.. and I personally do not buy lottery tickets, and I have done fine in life, so far... even though maybe I could have one a multi-million dollar powerball by only investing $10 per week and spending hours of my mental energies in monitoring such nonsense?   Ultimately, to each his own.

who of you guys have at least one burn out experience?

Define:  "burn out"   Context?

We might have gotten a little bit ahead of ourselves (white line). If we repeat the previous cycle, we have to wait 6x2500 blocks from today before continuing the upwards stratosphere trajectory again (104 days):


https://twitter.com/ChartsBtc/status/1332186796566855681

Bit of a scary chart, but also very realistic to me. In 2015 price made a local top at $500 after a parabolic run then took 6 months to recover. The same thing happened again when getting close to $800, it took another 6 months to consolidate that level too  

I realise that we're not at the equivalent level of $8-9K (still down 50%+) and we've already had a good two month consolidation period at this level, as well as a 16 months cool off period from $13K which is kind of the equivalent of $800 back in 2016, but still. I'd be surprised not to see a recovery take less than 3 months, and imagine it could take 6 in total.

Does not seem scary to me.. either the chart or the possibility that it could take several months to break above various resistance points; however, the breaking through $12,500, $13,880 and then $17,250 and so far only getting a dippening to $16,218 does not remove BTC price dynamics from continuing UPpity.. but sure, no real surprise to have some willingness to revisit any of those three resistance points that were so easily broken through in the past 5 weeks or so.

In other words, I would NOT be surprised to experience testing and retesting of those various lower resistance points, but I am not asserting that we must test such lower resistance points in order to continue UPpity.