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

[nutildah]

Regarding ColdKey, the project may look cool and satisfy some coiners' egos or whatever, but from the very beginning it was an idea based on trusting the creator, which is an instant no-no when it comes to Bitcoin.

Its true that the entire business model is dependent on trust but there are still some reputable physical cold storage collectible makers like Casascius and Kialara that have never had any such incident. Reputation is the most important thing for anybody who does business in bitcoin, but yeah obviously its not a failsafe hook to hang a customer's hat on.

This event is pretty unprecedented and will definitely set physical collectibles back for a while. Yogg was among the most trusted members of the forum. Sucks all the way around.

[hisslyness]

I did ask cygan about the keys and who produces them and has access to it.

It was definitely trust based, the creator will create the keys and hide them behind the halo, but not store them anywhere...

Definitely goes against the entire principal of Bitcoin.

What would have been better, we generate and give you the Bitcoin Address to print on the coldkey with our WO Hats.

Sure, i won't be able to trade or sell the coldkey (which is fine, as it is only collectible to me)

[ChartBuddy]

Explanation

[Paashaas]

Imagine what A.I can do 10 years from now.

[Gachapin]

Imagine what A.I can do 10 years from now.

some interesting examples of what it can do already:


https://youtu.be/MpDW-CZVfq8?t=2124
Jordan Peterson LIVE at The History of Civil Liberties in Canada Series

[MusaPk]

It's been 14 years since first transaction of bitcoin took place, 12 January 2009 satoshi send first 50 bitcoins to Hal Finney. Today these 50 bitcoins are worth 902,319 USD.

Hal Finney is no more and I am sure those 50 bitcoins are lost on bitcoin blockchain forever.

RIP HAL FINNEY, thank you for being first ever receipt of bitcoins. 

Image from blockchain.com

[ChartBuddy]

Explanation

[Helena Yu]

Regarding ColdKey, the project may look cool and satisfy some coiners' egos or whatever, but from the very beginning it was an idea based on trusting the creator, which is an instant no-no when it comes to Bitcoin. I personally would not trust my keys to anyone (not even my parents or siblings or GF/wife or whoever else). Not because I don't love them or trust them in the general sense. But it is a fact that all of us are human beings and are thus prone to mistakes and weaknesses, which can lead to compromising the security of whatever it is we want to protect.

When it comes to Bitcoin, you keep a low profile, NEVER reveal your keys to ANYONE, never advertise specific amounts or even ownership of any coins, never brag about how rich you are, and never compromise your OPSEC.

There's no need for ColdKeys. The best ColdKey is stored in our neurons, and should stay in there, and stay immaterial. Just like Bitcoin.

I agree with everything you've wrote, but I disagree if you wouldn't trust anyone with your keys because we're humans, we're not eternal in this world and we don't know when we left this world.

I don't think you would abandon all of your money you've make until right now, there's must be someone need to take over your Bitcoin and continue your journey to hold it.

At least your child need to know your keys, of course after they're matured, know about Bitcoin and already understand about money management.

[Gachapin]

You made this yourself?  

[Gachapin]

Regarding ColdKey, the project may look cool and satisfy some coiners' egos or whatever, but from the very beginning it was an idea based on trusting the creator, which is an instant no-no when it comes to Bitcoin. I personally would not trust my keys to anyone (not even my parents or siblings or GF/wife or whoever else). Not because I don't love them or trust them in the general sense. But it is a fact that all of us are human beings and are thus prone to mistakes and weaknesses, which can lead to compromising the security of whatever it is we want to protect.

When it comes to Bitcoin, you keep a low profile, NEVER reveal your keys to ANYONE, never advertise specific amounts or even ownership of any coins, never brag about how rich you are, and never compromise your OPSEC.

There's no need for ColdKeys. The best ColdKey is stored in our neurons, and should stay in there, and stay immaterial. Just like Bitcoin.

I agree with everything you've wrote, but I disagree if you wouldn't trust anyone with your keys because we're humans, we're not eternal in this world and we don't know when we left this world.

I don't think you would abandon all of your money you've make until right now, there's must be someone need to take over your Bitcoin and continue your journey to hold it.

At least your child need to know your keys, of course after they're matured, know about Bitcoin and already understand about money management.

If you die without giving the keys to anyone, the value of your stash will be distributed among all existing Bitcoiners...

[Helena Yu]

You made this yourself?  

Newbie user who only post image is a bot, there's no way for them to create it https://twitter.com/alistairmilne/status/1613307169612435460

It's better to click ignore to any newbie user who only post image without provide original source

[Helena Yu]

If you die without giving the keys to anyone, the value of your stash will be distributed among all existing Bitcoiners...

I know that, mate.

Either you hold your coins and you lose your coins, you're still give contribution to the community. But it doesn't make sense to just lost all of your coins when you have a choice to take a risk and save all of your coins even it's not belong for you anymore.

As a dad, supporting my children financial is better, so they wouldn't need to become poor and has more chance to be successful since they have enough money.

[ChartBuddy]

Explanation

[aesma]

I like the idea of multisig wallets put in the trust of various people who won't collude against you while you're alive (one of them could not be aware of it, for example, if it's in a sealed envelope in a bank vault or something, accessed to your heirs only if you die).

Nice to see corn moving again.

[Gachapin]

You made this yourself?  

Newbie user who only post image is a bot, there's no way for them to create it https://twitter.com/alistairmilne/status/1613307169612435460

It's better to click ignore to any newbie user who only post image without provide original source

the whole point of my post was the missing source... it's sarcasm but probably not everyone gets it...

If you die without giving the keys to anyone, the value of your stash will be distributed among all existing Bitcoiners...

I know that, mate.

...But it doesn't make sense to just lost all of your coins when you have a choice to take a risk and save all of your coins even it's not belong for you anymore.

Like a wise man once said: "Yeah, well, you know, that's just, like, your opinion, man...."


It's the right of every holder to decide what makes sense or not.  It's not your decision... you do you.

[ChartBuddy]

Explanation

[Unknown Op]

The movie as "recalled" by SBF



TWITTER

[ChartBuddy]

Explanation

[BitcoinBunny]

Happy Friday 13th W/O-ers. Happy 19K+!

[ChartBuddy]

Explanation