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

[harrymmmm]

I think a factor in the high price is that people who thought it would be safer to wait until an ETF was available to get in because of institutional protection, their lack of tech knowledge, whatever, have realised they don't get that luxury and have starting buying directly. This is a bit of a silk road v2 situation IMO, everyone thought the value was due to X and then X vanishes and it retains the value = collect jaw drop and then FOMO.

Yup. Hardware wallets are selling out fast.

Why use an ETF when you can hodl your bitcoins at home on a Trezor? (If you can find one to buy).

No kidding. After long time considering buying one I finally did past week and I couldn't be happier now. Way better and more secure than my previous mess of having some in exchanges, some in software wallets and some in paperwallets.

Now I can only recommend to anyone that doesn't have one to buy one asap. It's a whole new dimension. There's really no reason not to have one except maybe for someone with less than 1btc.

I did buy a Ledger Nano S though, which is mostly the same than Trezor.

I use Nano S and Trezor. I like Trezor better because I can use it with one hand but that is a minor quibble. It is a good idea to keep a portable copy of latest Electrum on your desktop if you are using the Chrome apps for Nano S; once in a while the Ledger servers have a problem usually on a weekend. If you trade Ether you can use MyEtherWallet as a backup to the Ledger Ether Chrome app.

My trezors handle:
1) bitcoin transactions etc.
2) password manager
3) u2f 2fa

Do Nano S devices do all of these things? I might check them out one day if they do.

[Johnny00]

I think a factor in the high price is that people who thought it would be safer to wait until an ETF was available to get in because of institutional protection, their lack of tech knowledge, whatever, have realised they don't get that luxury and have starting buying directly. This is a bit of a silk road v2 situation IMO, everyone thought the value was due to X and then X vanishes and it retains the value = collect jaw drop and then FOMO.

Yup. Hardware wallets are selling out fast.

Why use an ETF when you can hodl your bitcoins at home on a Trezor? (If you can find one to buy).

No kidding. After long time considering buying one I finally did past week and I couldn't be happier now. Way better and more secure than my previous mess of having some in exchanges, some in software wallets and some in paperwallets.

Now I can only recommend to anyone that doesn't have one to buy one asap. It's a whole new dimension. There's really no reason not to have one except maybe for someone with less than 1btc.

I did buy a Ledger Nano S though, which is mostly the same than Trezor.

I use Nano S and Trezor. I like Trezor better because I can use it with one hand but that is a minor quibble. It is a good idea to keep a portable copy of latest Electrum on your desktop if you are using the Chrome apps for Nano S; once in a while the Ledger servers have a problem usually on a weekend. If you trade Ether you can use MyEtherWallet as a backup to the Ledger Ether Chrome app.

My trezors handle:
1) bitcoin transactions etc.
2) password manager
3) u2f 2fa

Do Nano S devices do all of these things? I might check them out one day if they do.

With a trezor do I need a desktop computer? I do everything on my mobile.

[Killerpotleaf]

I think a factor in the high price is that people who thought it would be safer to wait until an ETF was available to get in because of institutional protection, their lack of tech knowledge, whatever, have realised they don't get that luxury and have starting buying directly. This is a bit of a silk road v2 situation IMO, everyone thought the value was due to X and then X vanishes and it retains the value = collect jaw drop and then FOMO.

Yup. Hardware wallets are selling out fast.

Why use an ETF when you can hodl your bitcoins at home on a Trezor? (If you can find one to buy).

No kidding. After long time considering buying one I finally did past week and I couldn't be happier now. Way better and more secure than my previous mess of having some in exchanges, some in software wallets and some in paperwallets.

Now I can only recommend to anyone that doesn't have one to buy one asap. It's a whole new dimension. There's really no reason not to have one except maybe for someone with less than 1btc.

I did buy a Ledger Nano S though, which is mostly the same than Trezor.

I use Nano S and Trezor. I like Trezor better because I can use it with one hand but that is a minor quibble. It is a good idea to keep a portable copy of latest Electrum on your desktop if you are using the Chrome apps for Nano S; once in a while the Ledger servers have a problem usually on a weekend. If you trade Ether you can use MyEtherWallet as a backup to the Ledger Ether Chrome app.

My trezors handle:
1) bitcoin transactions etc.
2) password manager
3) u2f 2fa

Do Nano S devices do all of these things? I might check them out one day if they do.

With a trezor do I need a desktop computer? I do everything on my mobile.

it would be surprising if you could...

[bitserve]

My trezors handle:
1) bitcoin transactions etc.
2) password manager
3) u2f 2fa

Do Nano S devices do all of these things? I might check them out one day if they do.

I have only been using it for a week so maybe there is more that I don't know but:

1) Yes, and ethereum (eth/etc), litecoin, dash, and some others
2) I think it doesnt but I read it is in the works or something. Not sure.
3) Yes, FIDO U2F

I did a pretty extensive comparison on both before ordering the Nano S and found them to be very similar but in the end I ordered the Nano S because:

1) It was a bit less expensive (69 vs 99).
2) Trezor was out of stock
3) Trezor V2 is said to be in the works

I was more inclined to the Trezor at first, but after the features comparison and those three points above the choice was clear for me, and my second device will be a Trezor V2 in the future.

One thing I liked about the Nano S is the seed is stored in a secure chip while a microprocessor in the Trezor.... Worth to mention, but minor point as I don't expect anyone to get posession of my device and do pro reverse engineering with it anyways.

Maybe the only advantage Nano S has over Trezor is that the seed doesn't ever need to be input using a computer as it can be introduced directly in the device. (one less possible attack vector).

And the Trezor, well, it was the first and most well known and also has the password manager. It also had some other advantages like an additional passphrase but that changed in the latest firmware:

https://medium.com/@Ledger/a-short-guide-to-nano-s-firmware-1-3-features-b92c939e7c9f#.ef0xxe87x

As i don't have a Trezor myself I can only talk about what I researched about it.

[BitcoinNewsMagazine]

I think a factor in the high price is that people who thought it would be safer to wait until an ETF was available to get in because of institutional protection, their lack of tech knowledge, whatever, have realised they don't get that luxury and have starting buying directly. This is a bit of a silk road v2 situation IMO, everyone thought the value was due to X and then X vanishes and it retains the value = collect jaw drop and then FOMO.

Yup. Hardware wallets are selling out fast.

Why use an ETF when you can hodl your bitcoins at home on a Trezor? (If you can find one to buy).

No kidding. After long time considering buying one I finally did past week and I couldn't be happier now. Way better and more secure than my previous mess of having some in exchanges, some in software wallets and some in paperwallets.

Now I can only recommend to anyone that doesn't have one to buy one asap. It's a whole new dimension. There's really no reason not to have one except maybe for someone with less than 1btc.

I did buy a Ledger Nano S though, which is mostly the same than Trezor.

I use Nano S and Trezor. I like Trezor better because I can use it with one hand but that is a minor quibble. It is a good idea to keep a portable copy of latest Electrum on your desktop if you are using the Chrome apps for Nano S; once in a while the Ledger servers have a problem usually on a weekend. If you trade Ether you can use MyEtherWallet as a backup to the Ledger Ether Chrome app.

My trezors handle:
1) bitcoin transactions etc.
2) password manager
3) u2f 2fa

Do Nano S devices do all of these things? I might check them out one day if they do.

With a trezor do I need a desktop computer? I do everything on my mobile.

You can do everything from your phone if you have a newer Android that has OTG capability. You use Trezor Manager to set up your new Trezor then Mycelium for transactions. You may have to check Amazon for an OTG cable that works with your phone.

[Killerpotleaf]

The Bears will come.


The ETF not being approved signals a new bear market. Altho many are trying to see the silver lining in the dark cloud ahead, its hard ignore the obvious; market was high on the possibly of the ETF being approved, but it was denied and we saw just how dog-eat-dog the traders became, dumping BTC SUPER-FAST down to 975 flat before letting it bounce, after that 1050 was the battle ground, bears lost, then 1100, now we are at 1150 and bulls feel they've won.
I think its far from over, altho i will loss the small bet i made stating <975 before monday 00:00 EST, the bears will come, and the bulls might be exhausted from their recent run when they do.

The above chart paints a bearish channel, i do expect to be trading in this channel for the next week or too. However the next 48hours are absolutely critical, if bulls can sustain price above 1120 for that time, this may signal a complete and utter failure from the bear team. but i am warning bulls to keep there cool and not go chasing magical unicorns, market ought to adjust itself before resuming full speed ahead.

[JayJuanGee]

The Bears will come.


The ETF not being approved signals a new bear market. Altho many are trying to see the silver lining in the dark cloud ahead, its hard ignore the obvious; market was high on the possibly of the ETF being approved, when it was denied we saw just how dog-eat-dog the traders became, dumping BTC SUPER-FAST down to 975 flat before letting it bounce, after that 1050 was the battle ground, bears lost, then 1100, now we are at 1150 and bulls feel they've won.
I think its far from over, altho i will loss the small bet i made stating <975 before monday 00:00 EST, the bears will come, and the bulls might be exhausted from their recent run when they do.

The above chart paints a bearish channel, i do expect to be trading in this channel for the next week or too. However the next 48hours are absolutely critical, if bulls can sustain price above 1120 for that time, this may signal a complete and utter failure from the bear team. but i am warning bulls to keep there cool and not go chasing magical unicorns, market ought to adjust itself before resuming full speed ahead.

Look at the pot guy, AKA Adam...... turned into a bear, merely because he forgot about bitcoin.... 


In other words, the cute little penguin seems to have lost its way.   

[bitserve]

The Bears will come.


The ETF not being approved signals a new bear market. Altho many are trying to see the silver lining in the dark cloud ahead, its hard ignore the obvious; market was high on the possibly of the ETF being approved, but it was denied and we saw just how dog-eat-dog the traders became, dumping BTC SUPER-FAST down to 975 flat before letting it bounce, after that 1050 was the battle ground, bears lost, then 1100, now we are at 1150 and bulls feel they've won.
I think its far from over, altho i will loss the small bet i made stating <975 before monday 00:00 EST, the bears will come, and the bulls might be exhausted from their recent run when they do.

The above chart paints a bearish channel, i do expect to be trading in this channel for the next week or too. However the next 48hours are absolutely critical, if bulls can sustain price above 1120 for that time, this may signal a complete and utter failure from the bear team. but i am warning bulls to keep there cool and not go chasing magical unicorns, market ought to adjust itself before resuming full speed ahead.

What a bunch of random lines you draw there!

I think you are confusing the concepts of MAYBE another dump/correction incoming with a "bear market" which is much different and there is no sign/reason for that yet.

[Killerpotleaf]

The Bears will come.


The ETF not being approved signals a new bear market. Altho many are trying to see the silver lining in the dark cloud ahead, its hard ignore the obvious; market was high on the possibly of the ETF being approved, but it was denied and we saw just how dog-eat-dog the traders became, dumping BTC SUPER-FAST down to 975 flat before letting it bounce, after that 1050 was the battle ground, bears lost, then 1100, now we are at 1150 and bulls feel they've won.
I think its far from over, altho i will loss the small bet i made stating <975 before monday 00:00 EST, the bears will come, and the bulls might be exhausted from their recent run when they do.

The above chart paints a bearish channel, i do expect to be trading in this channel for the next week or too. However the next 48hours are absolutely critical, if bulls can sustain price above 1120 for that time, this may signal a complete and utter failure from the bear team. but i am warning bulls to keep there cool and not go chasing magical unicorns, market ought to adjust itself before resuming full speed ahead.

What a bunch of random lines you draw there!

I think you are confusing the concepts of MAYBE another dump/correction incoming with a "bear market" which is much different and there is no sign/reason for that yet.

I know the lines are pretty random, but they LOOK relevent dont they  
right, but correction or bearish trend, just didnt sound scary enough.

[eddie13]

Yup. Hardware wallets are selling out fast.

Why use an ETF when you can hodl your bitcoins at home on a Trezor? (If you can find one to buy).

this is very true. i bought a ledger nano s the other day and it took quite some finding. amazon sold out and couldn't tell me when they were getting more in.

I just bought a nano s from amazon for $69 shipped

Hasn't got here yet..

TUXexchange dev miniteef said that they were the best and that I had to have one, so I popped..

[Killerpotleaf]

never short your bitcoins kids...

[bitserve]

Yup. Hardware wallets are selling out fast.

Why use an ETF when you can hodl your bitcoins at home on a Trezor? (If you can find one to buy).

this is very true. i bought a ledger nano s the other day and it took quite some finding. amazon sold out and couldn't tell me when they were getting more in.

I just bought a nano s from amazon for $69 shipped

Hasn't got here yet..

TUXexchange dev miniteef said that they were the best and that I had to have one, so I popped..

I paid almost 90EUR buying it directly from Ledger + UPS shipping

Don't regret it though, but....

[JayJuanGee]

[http://rs97.pbsrc.com/albums/l210/naughty_or_nice192/Gif/tumblr_m1zjhqxwEI1qlepjzGid.gif~c200[/img]

never short your bitcoins kids...

And, here we go.


Preparing for another leg, uppity!!!!


That is B call... little friends, aka bitcoins.

[Elwar]

I think a factor in the high price is that people who thought it would be safer to wait until an ETF was available to get in because of institutional protection, their lack of tech knowledge, whatever, have realised they don't get that luxury and have starting buying directly. This is a bit of a silk road v2 situation IMO, everyone thought the value was due to X and then X vanishes and it retains the value = collect jaw drop and then FOMO.

Yup. Hardware wallets are selling out fast.

Why use an ETF when you can hodl your bitcoins at home on a Trezor? (If you can find one to buy).

^paper wallets a thing of the past? :\

I bought a few of these:


I am quite impressed.

Dude tries to destroy one:
https://www.youtube.com/watch?v=u1hLFsBuDT0

I verified that the private keys were legit on a cheap laptop that I never connected to the Internet. I then pulled the hard drive and destroyed it down to tiny pieces. I will be burning the rest of the laptop in a fire just to be sure.


I also bought a Case hardware wallet.



I am not so sure about this one. I put 1 bitcoin on it last year, checked it later and never saw the bitcoin.

[bitserve]

I think a factor in the high price is that people who thought it would be safer to wait until an ETF was available to get in because of institutional protection, their lack of tech knowledge, whatever, have realised they don't get that luxury and have starting buying directly. This is a bit of a silk road v2 situation IMO, everyone thought the value was due to X and then X vanishes and it retains the value = collect jaw drop and then FOMO.

Yup. Hardware wallets are selling out fast.

Why use an ETF when you can hodl your bitcoins at home on a Trezor? (If you can find one to buy).

^paper wallets a thing of the past? :\

I bought a few of these:


I am quite impressed.

Dude tries to destroy one:
https://www.youtube.com/watch?v=u1hLFsBuDT0

That's one of my next buys... I find it quite expensive for what it "does" though. I mean I can engrave the seed on some metal plate myself. But the coolness factor of cryptosteel is impressive

I supposse you use it for storing the seed/s of a hardware wallet and not for using ever in a software wallet, right?

[bitserve]

I am not so sure about this one. I put 1 bitcoin on it last year, checked it later and never saw the bitcoin.

You say you put 1 bitcoin and never saw the bitcoin and your not sure so about it?

I would be soooooo fucking sure if that happened to me.

[Elwar]

I supposse you use it for storing the seed/s of a hardware wallet and not for using ever in a software wallet, right?

I'm not very sold on the whole hardware wallet concept. Especially after my Case wallet didn't work as I had hoped. I have the seed but am not sure how I would get my bitcoin back.

I have always relied upon just storing the full private key (mixed in a way that only I know).

[bitserve]

I supposse you use it for storing the seed/s of a hardware wallet and not for using ever in a software wallet, right?

I'm not very sold on the whole hardware wallet concept. Especially after my Case wallet didn't work as I had hoped. I have the seed but am not sure how I would get my bitcoin back.

I have always relied upon just storing the full private key (mixed in a way that only I know).

I also was skeptical until a few weeks ago that I started doing my research and was sold on the concept. And now that I have personally tested it, I am more than sold.

I didn't know about that hardware wallet you have, but I don't see any signs of a scam, so sure it must be something that can be solved.

First, that hardware is different than Trezor/Ledger in that it seems to use some sort of multisignature:

Case is extremely secure because it is built on top of a multi-signature, multi-factor architecture with no single point of failure. Your bitcoin wallet has three keys and two of them are needed to complete a transaction. One key is embedded on the device so it is secured by the possession factor. No one can gain access to this key without having possession of the device. However, this key isn’t enough to complete a transaction. A second key is stored on our servers and transactions are only signed by the server key if the fingerprint scan is a match so this key is secured by a biometric factor. That means even if your device is lost or our servers are compromised, your bitcoins are safe. A third key sits in an offline vault and is only used if you ever lose your Case to help you recover your bitcoins.

So, I am not sure if I would recommend a device like that (sound too cumbersome... I want to control the seed MYSELF) but it looks like there are ways for you to recover your bitcoin. In the worst case they say they have "a third key in their offline vault".

Maybe you should recover that bitcoin and invest 10% of it in a proper hardware wallet

[bitserve]

Elwar, I have been reading a bit more about that "Case" hardware wallet. Definitely it's something I wouldn't recommend:

It uses a multisignature requiring two of three keys, one is the case itself, another one is stored in their servers, and the third one is in a vault they have.

So... They are in possesion of two of the two needed keys to access the funds. That's a no-no. I supposse I don't need to explain why.

That is unless you opted to be the own in custody of the third key (as you should):

Who holds the third key?

During first time setup for the device, you can choose where you want your recovery key stored. The default option is to store it in a secure vault operated by Third Key Solutions. If you wish to store your own third key, you will be prompted during the setup flow to scan the public key of your recovery private key. Please note that you will be responsible for signing a transaction with this private key if your device is lost or stolen, and we recommend this only as an advanced option for expert users.

Really, recover that 1btc and buy a proper hardware wallet. Play with it and then I bet you will like it as much as I do now

[BTCtrader71]

I verified that the private keys were legit on a cheap laptop that I never connected to the Internet. I then pulled the hard drive and destroyed it down to tiny pieces. I will be burning the rest of the laptop in a fire just to be sure.

You can do that with a ledger s nano, no need to sacrifice a laptop.
1. Set it up, and record the 24 words in cryptosteel.
2. Write down the first receipt address.
3. Wipe the ledger.
4. Go to recovery mode and re-enter the 24 words.
5. Check to make sure the first receipt address is the same. If it is, you know you've recorded them in cryptosteel without error.

You can do something similar with a Trezor but you have to type the words into a connected laptop. If compromised, the bad guys will know your 24 words (although they won't know which order to put them which means they won't be stealing your coins). It's the one thing that ledger has over Trezor.

If you really want to stick with Trezor, I'd say it's worth getting a nano just so you can verify the 24 words.