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

[DeathAngel]

Does nobody keep their coins in their passphrase protected wallet.dat

I’ve never had any issues. I only use that laptop to store my coins. Never had a problem, I do no other tasks on it, it helps that I’m not an idiot who clicks suspicious links & downloads movies/torrents etc.

I’ve seen some sad stories on here over the years of people losing their life savings, it’s neaely always major user error though. People downloading bogus Electrum wallets, trying to claim shit coins etc.

[1713559164]

1713559164

[bitcoinPsycho]

I was expecting a 200$ PUMP

I failed. Forgive me

[El duderino_]

I was expecting a 200$ PUMP

I failed. Forgive me

Check the threads something new popped up

[HairyMaclairy]

So, while things are not in the bull zone yet, do you not think it 'possible' (as my hopium-addled brain thinks) that this is finally the beginning of the end?

Yes it is definitely the beginning of the end.  The problem is, "the end" is quite a large mind space.  It will likely take up most or all of the 2019 calendar year.  

Personally, I am thinking a dull sideways, but slowly upward grind (sure, with fits and starts) from here to the end of this year. Not a bull run yet - but past the definitive end of the bear market.  

Too optimistic for me.  We have no foundations on which to build a bull run yet.  And we need to break the bearline.  Those foundations could form tomorrow, but they are missing for now. 

I think too many people would rather buy at 3XXX and risk it dipping than be forced to buy at 4K or 5K if Bitcoin has a French Weekend when they aren't watching.

Yes, it is critically important to be hedged against the upside.  

If there is to be a new ATH, according to pattern - with the order of increase we saw between the last two, then (to extrapolate) what is the difference buying at 3K or 2K if it might hit 50K inside 2 years?

I have said before, we could hit $280k by December 2021.  I still think this is possible.  

[tinova79]

How do you secure your security seed? Honest question

Writing/engraving it down in multiple places of trust. No photos are allowed.
Also switching around a couple of words, would "secure" the seed in the event of an intruder finding it.
Need to remember which words of course.

Thanks for the reply!

So isn't the same securing a paper and HW wallet?

[El duderino_]

Come on WO’s

https://bitcointalk.org/index.php?topic=5096275.0

Please not to bearish HM

[realr0ach]

You are the last person on earth (besides JayJuanGee) qualified to determine whether Lightning Network is a scam or not.  It does not matter how you attempt to spin it, Lightning Network is an exact replica of the current banking system that already exists with all of the same negatives.  It would be the banker's greatest dream for everyone to use Lightning Network.  

There's too much to explain about why it's complete garbage, but just one example in particular involves transaction validator nodes.  In the base bitcoin model this is going to be the miners and the miners are required to compete in terms of economic soundness and efficiency in their operation.  Since the state is the bankers, they can then implement huge red tape and regulation, killing off any 'hobby' miners or really any competitors in general except themselves.

So it's pretty easy for the banks to completely control bitcoin already as is with blacklists and everything else, turning into a complete dystopia, but they do have at least some small inconveniences in their way.  With Lightning Network, there IS NO hashing for them to do, they can simply regulate everyone else out of existence with red tape, then they control ALL Lightning router nodes and collect their vampiric usury fees off every transaction with no skin in the game.  In other words, there's ZERO difference between that and current banking.  Banks collect infinite interest by taking a cut of every transaction with no skin in the game and own the planet.

[El duderino_]

^
To quote me other thread THX in advance
Troll r0ach

[El duderino_]

^
add a price Maybe..... its a good way to get back into BTC perhaps

[JSRAW]

Had my 24 word seed tattooed along my penis, the burglar will have to impress me somehow before they can steal it.

Forget about burglar. stay away from Gold diggers  

[Wekkel]

[...]Lightning Network is an exact replica of the current banking system [...]

You have to upgrade your thinking....

[realr0ach]

[...]Lightning Network is an exact replica of the current banking system [...]

You have to upgrade your thinking....

You people are clueless if you think all Lightning nodes that route transactions won't be run and controlled by the banking entitites that already exist.  They can simply make it that way with the stroke of a pen.  Banks are not traditionally in the semiconductor business, so that has slowed their ascent of taking control of bitcoin mining, but Lightning doesn't require mining.  It's the playground of their already existing business model, to just insert themselves in as middlemen by regulation with the following result:

Banks collect infinite interest by taking a cut of every transaction with no skin in the game and own the planet.

[El duderino_]

[...]Lightning Network is an exact replica of the current banking system [...]

You have to upgrade your thinking....

No room for upgrade

As not in NAZIthinking
As not in valueble asset thinking
As not in woman thinking
As not in *can’t disturb the WO* thinking
As not in many things

He’s fully upgraded for TROLLING

Only it seems he’s not willing to TROLL in the place special created for him

What are we gonna do

[VB1001]

Shorts and Longs graphics.



https://en.tradingview.com/symbols/BTCUSDSHORTS/



https://en.tradingview.com/symbols/BTCUSDLONGS/

[Cassius]

^^ Not bullish. Ready for a long squeeze.

[wachtwoord]

Of course lightning is a far weaker system than Bitcoin offering far less security and censorship resistance. It's designed that way swapping security and censorship resistance for scalability. If you need Bitcoin level security and censorship resistance pay for an on-chain Bitcoin transaction.

Additionally, if lightning ever proofs to not work good enough it can be disregarded altogether. Finally several lightning-like protocols can theoretically exist at the same time (although winner takes all seems way more likely, but perhaps there exists some niche with different requirements).

[bitcoincidence]

How do you secure your security seed? Honest question

Writing/engraving it down in multiple places of trust. No photos are allowed.
Also switching around a couple of words, would "secure" the seed in the event of an intruder finding it.
Need to remember which words of course.

You can bring some extra security in the steelplate (paperwallet) solution by dividing the phrase in three parts where you need at least two for the complete phrase. You can store them at three different locations.




Source: https://www.reddit.com/r/ledgerwallet/comments/83ecqy/how_you_can_store_your_recovery_words_very_safely/

Here are the steps required:

So what you need first is an engraving pen that can engrave steel. Those cost less than 20 dollar and can be used to engrave anything, so may come in handy later for a gift or whatever. Those can be bought cheap on amazon for example.

Next thing you need is something to engrave to. I used cheap dog tags, a pack of 25 for ~5$ from China (banggood IIRC). But you can use whatever you want, 3 simple plates of old scrap metal work too.

Then you split the metal up in 3 groups.

Last step: You engrave your recovery words on them. If you use tags, you need 8 per group, because you can engrave front and back. So the first group gets words 1+2, 4+5...; The second group gets 2+3, 5+6...; and the third group gets 1+3, 4+6...; This only takes a few minutes, maybe half an hour if you're not used to a tool like the engraving pen.

It's done. You can now deposit each group of words in 3 different locations. You need 2 groups to recover your seed, so a thief can't do anything with it, while you still can restore the phrase easily. And your seed even is immune to water damage or whatever. Hope this helps!

[Globb0]

Bart followed by inverse Bart?

[realr0ach]

Of course lightning is a far weaker system than Bitcoin offering far less security and censorship resistance.

You miss the point it does nothing to fix the current monetary system.  The fact bitcoin is designed around having built-in, rent seeking middlemen who you need to ask permission from to move the coins you supposedly own, and then need to pay a ransom extortion fee to, should be a red flag to any non-idiot that bitcoin at it's core does really nothing to alter the evil banking system that currently exists.  The variable of fixed money supply in bitcoin vs infinite fiat supply is pretty much a giant red herring to distract people in this regard.

The real issue at hand isn't the variable of supply, but the ability of people to insert themselves into the middleman position and siphon off wealth while doing virtually nothing, collecting infinite interest, and ownining the entire planet in the process.  The banks do this in their current business model, and both bitcoin and the lightning network are designed the same way.  So nothing really changes in the end.

Physical metals, on the other hand, DO NOT have built-in middlemen like bitcoin and the current banking system do.  If I attempt to spend a bitcoin, I am involuntarily making someone else rich in the process - the designed to centralize, built-in middlemen mining monopoly or lightning node monopoly.  If I attempt to spend a gold, silver, or copper coin, NOBODY else is profiting off my transaction and sucking up all wealth in the universe in the process.

[El duderino_]

Bart followed by inverse Bart?

Go and defend your WIN
Based on that