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

[bitserve]

Also, if you have 12BTC on a software wallet my advice inmediately changes to: Buy a hardware wallet NOW!

What's wrong with a software wallet? Mine is password protected, stored in a veracrypt volume, which is stored on my encrypted /home partition, and included in several backups stored in different air-gaped locations and only ever connected one at a time. (and most importantly, I'm not running a toy operating system.)

Well, you are describing it perfectly. I can have better security with my hardware wallet without needing any special security measures. I could even use it on "public" computer.

I say "better security" because no matter how many layers of encryption you may be using... at some time you would need your computer to access the wallet in "plaintext" to sign the transactions and that opens an attack vector.

It's much better to have the signing be done inside a specialized hardware....

Plus it is amazingly more convenient to use.

I have been saying this same thing for four years, but I would take it a step further. Easiest and best way to secure your Bitcoin is printing your address and putting two copies in different safe deposit boxes. Then return 10 years later a millionaire.

Software wallets for even moderately competent tech people are complete jokes: passwords, veracrypt?, home partition encrypted, multiple backups, air gapped storage, military grade cement vaults, across continents, different governing body, multi sig, documented access protocol, protocol encrypted, protocol stored in multiple backup locations......OMFG

You are missing my point. Paperwallets also have its use case but... HOW DO YOU PLAN TO CONVERT THEM BACK TO BTC (MOVE THEM) WITHOUT USING A SOFTWARE WALLET?!??!!?

For god's sake, why can't people just follow my advice and buy a damn hardware wallet!

[deepcolderwallet]

Also, if you have 12BTC on a software wallet my advice inmediately changes to: Buy a hardware wallet NOW!

What's wrong with a software wallet? Mine is password protected, stored in a veracrypt volume, which is stored on my encrypted /home partition, and included in several backups stored in different air-gaped locations and only ever connected one at a time. (and most importantly, I'm not running a toy operating system.)

Well, you are describing it perfectly. I can have better security with my hardware wallet without needing any special security measures. I could even use it on "public" computer.

I say "better security" because no matter how many layers of encryption you may be using... at some time you would need your computer to access the wallet in "plaintext" to sign the transactions and that opens an attack vector.

It's much better to have the signing be done inside a specialized hardware....

Plus it is amazingly more convenient to use.

I solved this problem without having to spend money on a hardware wallet by
1- removing SIM card and factory-resetting my old phone, immediately putting it into airplane mode (wi-fi, bluetooth and everything else also manually disabled) and ENCRYPTING WITH STRONG PASSWORD (not draw pattern);
2- installing Electrum via APK stored on micro-SD;
3- generating new wallet in this air-gapped phone, then I imported x-pub to everyday brand new phone.

Now I can see balance, receive bitcoin and create unsigned transactions on the connected phone, then old phone signs transactions via QR-code.

Cheap and easy.

[bitserve]

Also, if you have 12BTC on a software wallet my advice inmediately changes to: Buy a hardware wallet NOW!

What's wrong with a software wallet? Mine is password protected, stored in a veracrypt volume, which is stored on my encrypted /home partition, and included in several backups stored in different air-gaped locations and only ever connected one at a time. (and most importantly, I'm not running a toy operating system.)

Well, you are describing it perfectly. I can have better security with my hardware wallet without needing any special security measures. I could even use it on "public" computer.

I say "better security" because no matter how many layers of encryption you may be using... at some time you would need your computer to access the wallet in "plaintext" to sign the transactions and that opens an attack vector.

It's much better to have the signing be done inside a specialized hardware....

Plus it is amazingly more convenient to use.

I solved this problem without having to spend money on a hardware wallet by
1- removing SIM card and factory-resetting my old phone, immediately putting it into airplane mode (wi-fi, bluetooth and everything else also manually disabled) and ENCRYPTING WITH STRONG PASSWORD (not draw pattern);
2- installing Electrum via APK stored on micro-SD;
3- generating new wallet in this air-gapped phone, then I imported x-pub to everyday brand new phone.

Now I can see balance, receive bitcoin and create unsigned transactions on the connected phone, then old phone signs transactions via QR-code.

Cheap and easy.

Ok, not bad, you basically have a DIY hardware wallet. Still not as much secure (physical access to phone and chip-off technique among others) and certainly not as convenient to use as a commercial hardware wallet.... But yes, its ok.

Hardware wallets are now less than $100 anyways.... That's also cheap, and easier.

[deepcolderwallet]

I solved this problem without having to spend money on a hardware wallet by
1- removing SIM card and factory-resetting my old phone, immediately putting it into airplane mode (wi-fi, bluetooth and everything else also manually disabled) and ENCRYPTING WITH STRONG PASSWORD (not draw pattern);
2- installing Electrum via APK stored on micro-SD;
3- generating new wallet in this air-gapped phone, then I imported x-pub to everyday brand new phone.

Now I can see balance, receive bitcoin and create unsigned transactions on the connected phone, then old phone signs transactions via QR-code.

Cheap and easy.

Ok, not bad, you basically have a DIY hardware wallet. Still not as much secure (physical access to phone and chip-off technique among others) and certainly not as convenient to use as a commercial hardware wallet.... But yes, its ok.

Hardware wallets are now less than $100 anyways.... That's still cheap, and easier.

Not forgetting that I always have Electrum's seed (written down, memorized, hidden, scrambled within books, etc)

[Paashaas]

[bitserve]

I solved this problem without having to spend money on a hardware wallet by
1- removing SIM card and factory-resetting my old phone, immediately putting it into airplane mode (wi-fi, bluetooth and everything else also manually disabled) and ENCRYPTING WITH STRONG PASSWORD (not draw pattern);
2- installing Electrum via APK stored on micro-SD;
3- generating new wallet in this air-gapped phone, then I imported x-pub to everyday brand new phone.

Now I can see balance, receive bitcoin and create unsigned transactions on the connected phone, then old phone signs transactions via QR-code.

Cheap and easy.

Ok, not bad, you basically have a DIY hardware wallet. Still not as much secure (physical access to phone and chip-off technique among others) and certainly not as convenient to use as a commercial hardware wallet.... But yes, its ok.

Hardware wallets are now less than $100 anyways.... That's still cheap, and easier.

Not forgetting that I always have Electrum's seed (written down, memorized, hidden, scrambled within books, etc)

Oh yes, I also have the seed of my hardware wallet conveniently stored... But I prefer not to talk much about how. I guess that's something everyone can figure the better way for them.

[bitserve]

Not yet. Is it a prediction for THIS week?

[Johnny00]

Also, if you have 12BTC on a software wallet my advice inmediately changes to: Buy a hardware wallet NOW!

What's wrong with a software wallet? Mine is password protected, stored in a veracrypt volume, which is stored on my encrypted /home partition, and included in several backups stored in different air-gaped locations and only ever connected one at a time. (and most importantly, I'm not running a toy operating system.)

Well, you are describing it perfectly. I can have better security with my hardware wallet without needing any special security measures. I could even use it on "public" computer.

I say "better security" because no matter how many layers of encryption you may be using... at some time you would need your computer to access the wallet in "plaintext" to sign the transactions and that opens an attack vector.

It's much better to have the signing be done inside a specialized hardware....

Plus it is amazingly more convenient to use.

I have been saying this same thing for four years, but I would take it a step further. Easiest and best way to secure your Bitcoin is printing your address and putting two copies in different safe deposit boxes. Then return 10 years later a millionaire.

Software wallets for even moderately competent tech people are complete jokes: passwords, veracrypt?, home partition encrypted, multiple backups, air gapped storage, military grade cement vaults, across continents, different governing body, multi sig, documented access protocol, protocol encrypted, protocol stored in multiple backup locations......OMFG

You are missing my point. Paperwallets also have its use case but... HOW DO YOU PLAN TO CONVERT THEM BACK TO BTC (MOVE THEM) WITHOUT USING A SOFTWARE WALLET?!??!!?

For god's sake, why can't people just follow my advice and buy a damn hardware wallet!

What's the best hardware Wallet? PM me please

[Karpeles]

Also, if you have 12BTC on a software wallet my advice inmediately changes to: Buy a hardware wallet NOW!

What's wrong with a software wallet? Mine is password protected, stored in a veracrypt volume, which is stored on my encrypted /home partition, and included in several backups stored in different air-gaped locations and only ever connected one at a time. (and most importantly, I'm not running a toy operating system.)

Well, you are describing it perfectly. I can have better security with my hardware wallet without needing any special security measures. I could even use it on "public" computer.

I say "better security" because no matter how many layers of encryption you may be using... at some time you would need your computer to access the wallet in "plaintext" to sign the transactions and that opens an attack vector.

It's much better to have the signing be done inside a specialized hardware....

Plus it is amazingly more convenient to use.

I have been saying this same thing for four years, but I would take it a step further. Easiest and best way to secure your Bitcoin is printing your address and putting two copies in different safe deposit boxes. Then return 10 years later a millionaire.

Software wallets for even moderately competent tech people are complete jokes: passwords, veracrypt?, home partition encrypted, multiple backups, air gapped storage, military grade cement vaults, across continents, different governing body, multi sig, documented access protocol, protocol encrypted, protocol stored in multiple backup locations......OMFG

You are missing my point. Paperwallets also have its use case but... HOW DO YOU PLAN TO CONVERT THEM BACK TO BTC (MOVE THEM) WITHOUT USING A SOFTWARE WALLET?!??!!?

For god's sake, why can't people just follow my advice and buy a damn hardware wallet!

What's the best hardware Wallet? PM me please

there is a topic only for hardware wallets review

OVERVIEW: BITCOIN HARDWARE WALLETS

https://bitcointalk.org/index.php?topic=899253.0

[droizs]

Also, if you have 12BTC on a software wallet my advice inmediately changes to: Buy a hardware wallet NOW!

What's wrong with a software wallet? Mine is password protected, stored in a veracrypt volume, which is stored on my encrypted /home partition, and included in several backups stored in different air-gaped locations and only ever connected one at a time. (and most importantly, I'm not running a toy operating system.)

Well, you are describing it perfectly. I can have better security with my hardware wallet without needing any special security measures. I could even use it on "public" computer.

I say "better security" because no matter how many layers of encryption you may be using... at some time you would need your computer to access the wallet in "plaintext" to sign the transactions and that opens an attack vector.

It's much better to have the signing be done inside a specialized hardware....

Plus it is amazingly more convenient to use.

I have been saying this same thing for four years, but I would take it a step further. Easiest and best way to secure your Bitcoin is printing your address and putting two copies in different safe deposit boxes. Then return 10 years later a millionaire.

Software wallets for even moderately competent tech people are complete jokes: passwords, veracrypt?, home partition encrypted, multiple backups, air gapped storage, military grade cement vaults, across continents, different governing body, multi sig, documented access protocol, protocol encrypted, protocol stored in multiple backup locations......OMFG

You are missing my point. Paperwallets also have its use case but... HOW DO YOU PLAN TO CONVERT THEM BACK TO BTC (MOVE THEM) WITHOUT USING A SOFTWARE WALLET?!??!!?

For god's sake, why can't people just follow my advice and buy a damn hardware wallet!

https://www.youtube.com/watch?v=mB1l-7WNtT8&t
Even with HW the dumb ones can still easily lose all BTC's. This guy is even trying to bribe ledger... bahahahah

Bury your fucking seed and/or divide the seed into 3 parts and give each one to 3 different trustworthy persons.
This can be a good solution if you have a place to bury and don't want to take the risk of the seed end up destroyed underground: cryptosteel.com

Ah... I almost forgot

[Paashaas]

Not yet. Is it a prediction for THIS week?

Yhea, i predict a nice $1600-$1800 range this week.

[lightfoot]

That was helpful, now can someone update the wile e coyote gif going through 300,400,500,600,700...through 1700?

This is getting quite unbelievable.

Edit: Past 1700. 1800 is where it's triple the value I got a fair number at, at which point I start giggling...

[Torque]

Don't use bank safe deposit boxes for long term storage, get a good fireproof safe for your home:

http://sanfrancisco.cbslocal.com/2017/05/06/customers-complain-bofa-is-drilling-safe-deposit-boxes-and-losing-valuables/

For hardware wallets, my recommendation is a Trezor.

[bitserve]

https://www.youtube.com/watch?v=mB1l-7WNtT8&t
Even with HW the dumb ones can still easily lose all BTC's. This guy is even trying to bribe ledger... bahahahah

Bury your fucking seed and/or divide the seed into 3 parts and give each one to 3 different trustworthy persons.
This can be a good solution if you have a place to bury and don't want to take the risk of the seed end up destroyed underground: cryptosteel.com

WTF?!?!?!?! Has Bitcoin become so "mainstream" now??

So, the guy is sure he wrote the recovery seed, but when he checked he notices that he didn't, but he is so sure that he did, even if he now realises that he didnt... that Ledger need to reimburse him or something?

Ok, this leads me to my second advice tonight: Drugs are fun, but try not to abuse them much.... Oh, no, scratch that, it is this one:

When you first configure your hardware wallet, WRITE DOWN THE SEED, send some trivial amount to it, then reset/erase it, input the seed you wrote down again, and if everything is ok you are good to go.

[BlindMayorBitcorn]

We could just sit and cringe all day with these.

https://www.youtube.com/watch?v=D4PFTisD3kw

[droizs]

Is there any other exchanger like poloniex with btc lending option, that has identical rates? fucking polo is getting too scary.. every day they have problems.

[gentlemand]

Is there any other exchanger like poloniex with btc lending option, that has identical rates? fucking polo is getting too scary.. every day they have problems.

That's a facility that's in short supply these days. I can't really think of much.

Poloniex must now be one of the world's number one targets for hack attempts and ddosing. There's so much money to be made screwing with them that they'd better become the mightiest of all or they'll be buried.

As ever too many eggs are in one basket.

[JayJuanGee]

Is there any other exchanger like poloniex with btc lending option, that has identical rates? fucking polo is getting too scary.. every day they have problems.

HODL your ALTS.....


HAHAHAHAHAHAHAHAAHAHA...

Maybe the alts are going to get reckt?   We could only wish - it may take a bit of time for them to realize the follies of their ways...

Some may have gotten out and gotten rich and even increased their BTC stash.. others might want to hang on a little bit too long - hoping, just hoping that they might be the Bitcoin 2.0 that the pumpers proclaim.

[droizs]

We could just sit and cringe all day with these.

https://www.youtube.com/watch?v=D4PFTisD3kw

[bitserve]

We could just sit and cringe all day with these.

https://www.youtube.com/watch?v=D4PFTisD3kw

 

Oh well... In the meantime Bitcoin is still in the "no trading" zone, so I guess I didn't lose anything watching it... but, WHAT THE FUCKING FUCK?!?!