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

[JayJuanGee]

Does not appear to be a very smart message to even suggest that there is some kind of a difference between shitcoins and altcoins. .that is misleading..

Also, I can hardly see how one man is supposedly higher up (or supposedly more powerful) than bitcoin... also seems misleading.

Maybe put elon in the altcoiner slot, combine shitcoins and altcoins since they are the same thing, either keep bitcoin where it is at or put it on the higher rung with USD (or fiat) being the other stack, and sure it does not necessary remain a problem to keep the dollar/or fiat as the highest one, for now.

Even with my proposed changes, it still does not seem to make a lot of sense. 

The month of December is very interesting, they say that Octoberbree is the most bullish month of the year, is it true? The scenarios that are being presented can trigger a great impact on the price of BTC

I have seen two strange Decembers:

19 December 2017 -> Bitcoin ATH 19000$

19 December 2018 -> Bitcoin 3700$

In December 2017, when Bitcoin was fully bullish there were predictions that Bitcoin is going to 100,000 in 2018. But in 2018 Bitcoin went down to its lowest in Decmeber.

We seem to be in 2015 or 2019 right now rather than any of those other years.. at least in terms of the place in the 4-year cycle to the extent such a thing exists.

Maybe all Decembers are strange as far as King Daddy is concerned.. because maybe the various December highs of 2013, 2017 and 2021.. were merely coincidences?  Cannot be sure if King daddy gives too many shits regarding what month of the year it happens to be... what we do know, though is that we are in a kind of prehalvening location.. .whatever that might mean.. I think some of us have some senses regarding what it might mean. and some of us have senses that even if it might mean something, there is no guarantees that whatever it might mean will end up happening.  So there is that angle, too.

[sirazimuth]

Does not appear to be a very smart message to even suggest that there is some kind of a difference between shitcoins and altcoins. .that is misleading..

...

Indeed ... I was like WTF??

[JayJuanGee]

by the way, I thought that you were going to write such book involving me, phillip and maybe you might find some others and do some comparison and contrasting.. ..   There still needs to be some kind of a need for an interesting hook.. so we are likely not interesting enough on our own.

Ah, you remember it! Yes, I was going to write a book where I may compile your, Phillip's and maybe someone else's posts that has done similar posts like you guys and upload that book on internet. To be honest I'm not yet working on that book but thanks for reminding me and surely soon I will start working on it when time allows me. The book will surely take some time to get complete but I believe that it'll be a valuable asset for many people.

Well, hopefully you are able to figure out a way to make such a book interesting.

I believe that JJG write long posts because he have enough information to share with us and he might be a firm believer of sharing is caring thing.

I write long posts because I feel that I don't have enough time to write shorter posts.

That's a pretty bold statement man! I agree that someone like you can be very busy but still you give time to the forum which an amazing thing. We love your posts and once again I would say that they aren't only long but long with a lot of information. JJG, I'm sure if someone goes through all of your posts then that person can write an awesome book, especially related to economics and Bitcoin speculation.

When "the book" comes out, you will have to take back your statement sirazimuth.

Buddy, you are my only true friend on this here famous thread, everyone else thinks I'm completely insane or an a-hole ....or both.
And I don't think I can really argue with that supposition.

But anyway...

GO BITCOIN

I think you are a real swell guy in theory.

Is there any brown left or did I get it all?

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[somac.]

The mempool has dropped off a crapload. I was looking a couple weeks ago and I swear there was like 300k transactions waiting. Now its 25k. Anyone know why? has that ordinals hype completely died off?



 

[hisslyness]

The mempool has dropped off a crapload. I was looking a couple weeks ago and I swear there was like 300k transactions waiting. Now its 25k. Anyone know why? has that ordinals hype completely died off?



 

It is a little misleading. mempool has dropped down in terms of transaction qty but the size of each transaction is enormous!

It feels like the prick who was spamming the mempool earlier with those pesky 200sat transaction, is now consolidation the spam back to a single UTXO.

https://mempool.space/tx/61239ef47a7cc771885ee3b81f9306fe0def9a114c45b0175718c0ed63e7175a

If you look closely, full blocks (2MB) have 200 transactions only...

https://mempool.space/block/000000000000000000005298c5a69b83e416d8145f23cb5a76ebe105a4b8fbab

I've seen some with less than 100 transactions.

https://mempool.space/block/0000000000000000000304db2225d93f709e00dd851fa723dfdc71f0bd30c673

Current mempool size is equivalent to about 200,000 (1in-1out) unconfirmed transactions... and it has been like this for over a week now.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[nutildah]

All I really care about is how cheap tx fees are... Less than $1 is good. Right now you can get in the next block for less than $0.40, which is fantastic.

Ordinals activity has indeed fallen off a cliff. There was a small uptick in image uploads between Oct. 5-6.



You can see that it temporarily increased the overall block size here, although the trend appears to be continuing downward.



On-chain image storage is turning out to be something of a bust market-wise, along with the BRC-20 madness, which is good news for regular bitcoin users.

https://dune.com/dgtl_assets/bitcoin-ordinals-analysis

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[OutOfMemory]

Update on the lost ledger nano story:

Yesterday, my wife actually said to me that i seem to look worried, while in the middle of the lost ledger quest (Not because of the Covid).
I told my story and she said: "Hey, you told me you were hiding it in the basement, because you were worried that you can't remember when we return from the holidays."  
Good girl  
So i went into meditation a couple of times, until i had remembered some kind of dark picture of the place where i put the fucking thing.
And then it clicked. I had put the ledger in an empty packaging of some usb device (bluetooth stick?) where it did fit really tightly.
A few weeks after our vacation i was clearing out old stuff in the basement, and i almost know now that i had thrown the ledger nano away.
So there's a little chance that i didn't go to the recycling center but threw it in an intermediate container, no need to be too precise here. I plan to look through the (luckily, non-organic) waste later on.

If i can't find it there, it's lost for sure. If somebody finds it, that somebody has three attempts to guess the pin code, then it will auto-reset on failure.

Seems safe to restore the wallet(s) to the spare ledger i happen to own.
But i failed to decide if i would create a new key and transfer my Bitcoin from a recovered software-wallet. I am not sure which way is the safer one.

Any suggestions?

EDIT: There is a small chance that the device's key store can be read out through some bug or quantum magic (maybe, i don't count on it), IF even somebody had found the ledger and any clue how to use it. Smallish, very smallish chance, though. This would make the restore method on a new device less secure, of course.
But less secure than re-creating the wallet in Electrum and transfering the coins via protocol to the newly setup ledger wallet...

[somac.]

The mempool has dropped off a crapload. I was looking a couple weeks ago and I swear there was like 300k transactions waiting. Now its 25k. Anyone know why? has that ordinals hype completely died off?



 

It is a little misleading. mempool has dropped down in terms of transaction qty but the size of each transaction is enormous!

It feels like the prick who was spamming the mempool earlier with those pesky 200sat transaction, is now consolidation the spam back to a single UTXO.

https://mempool.space/tx/61239ef47a7cc771885ee3b81f9306fe0def9a114c45b0175718c0ed63e7175a

If you look closely, full blocks (2MB) have 200 transactions only...

https://mempool.space/block/000000000000000000005298c5a69b83e416d8145f23cb5a76ebe105a4b8fbab

I've seen some with less than 100 transactions.

https://mempool.space/block/0000000000000000000304db2225d93f709e00dd851fa723dfdc71f0bd30c673

Current mempool size is equivalent to about 200,000 (1in-1out) unconfirmed transactions... and it has been like this for over a week now.

Ah yes I did notice that, but total size has still gone down, IIRC that was around 600mb.

If it was a spammer why bother consolidating though? It seems to have brought the transaction fee down significantly, the spammer wouldn't want that would he?

[somac.]

On-chain image storage is turning out to be something of a bust market-wise, along with the BRC-20 madness, which is good news for regular bitcoin users.

It was never going to be otherwise. Not worth the price, at least for the rubbish most people want to use it for.

[somac.]

Update on the lost ledger nano story:

Yesterday, my wife actually said to me that i seem to look worried, while in the middle of the lost ledger quest (Not because of the Covid).
I told my story and she said: "Hey, you told me you were hiding it in the basement, because you were worried that you can't remember when we return from the holidays."  
Good girl  
So i went into meditation a couple of times, until i had remembered some kind of dark picture of the place where i put the fucking thing.
And then it clicked. I had put the ledger in an empty packaging of some usb device (bluetooth stick?) where it did fit really tightly.
A few weeks after our vacation i was clearing out old stuff in the basement, and i almost know now that i had thrown the ledger nano away.
So there's a little chance that i didn't go to the recycling center but threw it in an intermediate container, no need to be too precise here. I plan to look through the (luckily, non-organic) waste later on.

If i can't find it there, it's lost for sure. If somebody finds it, that somebody has three attempts to guess the pin code, then it will auto-reset on failure.

Seems safe to restore the wallet(s) to the spare ledger i happen to own.
But i failed to decide if i would create a new key and transfer my Bitcoin from a recovered software-wallet. I am not sure which way is the safer one.

Any suggestions?

EDIT: There is a small chance that the device's key store can be read out through some bug or quantum magic (maybe, i don't count on it), IF even somebody had found the ledger and any clue how to use it. Smallish, very smallish chance, though. This would make the restore method on a new device less secure, of course.
But less secure than re-creating the wallet in Electrum and transfering the coins via protocol to the newly setup ledger wallet...

Use a different seed and transfer them. Better safe than sorry, who knows what future vulnerabilities will be discovered.

[vapourminer]

Update on the lost ledger nano story:

[...]

If i can't find it there, it's lost for sure. If somebody finds it, that somebody has three attempts to guess the pin code, then it will auto-reset on failure.

Seems safe to restore the wallet(s) to the spare ledger i happen to own.
But i failed to decide if i would create a new key and transfer my Bitcoin from a recovered software-wallet. I am not sure which way is the safer one.

Any suggestions?

EDIT: There is a small chance that the device's key store can be read out through some bug or quantum magic (maybe, i don't count on it), IF even somebody had found the ledger and any clue how to use it. Smallish, very smallish chance, though. This would make the restore method on a new device less secure, of course.
But less secure than re-creating the wallet in Electrum and transfering the coins via protocol to the newly setup ledger wallet...

i would xfer everything to a new wallet/seed. but still keep the old seed around per satoshi.

why take a chance.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[danadc]

I like everything about the Halving, because for me it is the sign that there will be a new ATH, I just hope to be able to save as much as I can in bitcoin, the articles look very friendly:

“At present, the most critical macroeconomic factor appears to be a reflection of the situation in 2019 when the Fed paused its rake hikes, leading to a significant surge in Bitcoin prices.”

Original Source: https://cointelegraph.com/news/bitcoin-btc-price-analysts-november-halving-bull-run

I believe that patterns can be repeated, not 100% the same, but yes, and with this perspective it can happen, I have always said that the best thing is to buy bitcoin and save it, hold it all the time, it is the best investment in the world. . .

There are many people who do not believe in bitcoin, but whoever buys now and reaches more than 100 thousand dollars in 2024, well, I want to see their faces, I think it is normal, only the most intelligent are the ones who make the decision to buy, because It is very important financial advice.