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

[El duderino_]

via Imgflip Meme Generator

Cheers and have a good Saturday WO’s

[El duderino_]

@JJG, have a break it’s Saturday!

[arklan]

hi guys. back from the proverbial dead...

still ticking along like always i see.

[Paashaas]

Anthony Joshua vs Andy Ruiz rematch

[Wekkel]

hi guys. back from the proverbial dead...

still ticking along like always i see.

Welcome back. Still the same shitshow  

[arklan]

hi guys. back from the proverbial dead...

still ticking along like always i see.

Welcome back. Still the same shitshow  

insert various "mild shock" memes here.

i fear to tread anywhere near the politics and society section, knowing how BTC draws a... dramatic and wide variety of people and how.... volatile... times seem to be, in some ways.

[Cryptotourist]

insert various "mild shock" memes here.

[Searing]

hi guys. back from the proverbial dead...

still ticking along like always i see.

Where ya been? If you are being literal how was Hades?

[Bitcoin Smith]

insert various "mild shock" memes here.

Trailing..



Ohhh SHIT>>>

[LUCKMCFLY]

Is a interesting chart...

Last 7 days BTC netflows across 11 exchanges. Data by
@thetokenanalyst
 (I've used our enterprise websocket feed to generate this chart) #btc #onchain

Source: https://twitter.com/madewithtea/status/1203255944009961473

Average monthly spreads, expressed as a percentage of the price, range from 0.045 percent on Coinbase in March, to 0.304 percent on itBit in July. For comparison, bid-ask spreads on Vanguard ETF products right now range from 0.01 percent to 0.09 percent.

Exchanges' activities on the bitcoin network tend to follow predictable patterns, indicating net inflows. However, large balances often move in unpredictable ways and it can be difficult to distinguish the flow of capital from a change in custodial practice

Source: https://www.coindesk.com/bitcoin-volatility-is-up-liquidity-stagnant?utm_source=dlvr.it&utm_medium=twitter

[makrospex]

By the way:
This week i was up for a visit to the bank. A bank of which i am not a customer of.
As i don't really want to keep my seeds and (future) paper wallets at home, i asked for the price of a safe and if the contents are insured an all.
Mr. bankster asked me about the value and physical size of the entities i plan to put in there, so i said it would be foldable paper and a handful of items of the size of a matchbox. When he asked me for the value, which determines price and insurance, i said it is volatile in value and it might be anything between x1 (by current btc price) and x100 or even more in the next 30-50 years. So Mr. bankster said he has to contact his boss, who is the local manager of the safe, who in turn should call me on the same afternoon for speaking about details and possibilities.
I never heard of them again, no call from either of the two.

Well, this leaves me with the impression that safes seem to be a pain in the ass for banks (or this bank only, idk).
I found it quite unfair to base the price to rent a safe on the value of the content. Insurance, yes, that didn't surprise me that much. Seems like they out the amount which was estimated the value of the safe contents for. I can't just pay only for the safe and insurance covers the value of all that's in it, in case of physical desctruction, theft and loss.

Trying to get useful service from a notary will be coming next. I'll keep you updated.
Bad luck, i cut my index finger today with a mitre saw, because of plain stupidity. I teared off the protection cover of the blade, because i damaged it with a piece of copper sheet that slipped and hit the lifting mechanics of the protector, so it became stuck. After the very next cut, when the blade was still rotating powerless, i made a stupid move and my index finger got hit by a few sawteeth. When the shock kicked in two minutes later, i had to sit down on the floor and almost had to vomit.
It's still slightly bleeding after hours and correct surgery, so my visit to the notary could take a little while and i'll cut down on typing for some days.

[El duderino_]

Wine = getting me to that level.

[El duderino_]

Anthony Joshua vs Andy Ruiz rematch

Me waiting for BTC-ATH vs BTC-nowadays rematch.....

[jojo69]

back on, these things always seem to take longer than you think

What country makrospex?

Never, ever, trust a bank "safe" deposit in the US, the banks raid them on the regular.

[makrospex]

back on, these things always seem to take longer than you think

What country makrospex?

Never, ever, trust a bank "safe" deposit in the US, the banks raid them on the regular.

I'm in central europe, on the countryside. There are different measures over here, but you never know, right? Somehow i'm glad they didn't call, i might have got involved with their services.

[AlcoHoDL]

By the way:
This week i was up for a visit to the bank. A bank of which i am not a customer.
As i don't really want to keep my seeds and (future) paper wallets at home, i asked for the price of a safe and if the contents are insured an all.
Mr. bankster asked me about the value and physical size of the entities i plan to put in there, so i said it would be foldable paper and a handful of items of the size of a matchbox. When he asked me for the value, which determines price and insurance, i said it is volatile in value and it might be anything between x1 (by current btc price) and x100 or even more in the next 30-50 years. So Mr. bankster said he has to contact his boss, who is the local manager of the safe, who in turn should call me on the same afternoon for speaking about details and possibilities.
I never heard of them again, no call from either of the two.

Well, this leaves me with the impression that safes seem to be a pain in the ass for banks (or this bank only, idk).
I found it quite unfair to base the price to rent a safe on the value of the content. Insurance, yes, that didn't surprise me that much. Seems like they out the amount which was estimated the value of the safe contents for. I can't just pay only for the safe and insurance covers the value of all that's in it, in case of physical desctruction, theft and loss.

Trying to get useful service from a notary will be coming next. I'll keep you posted.

No need for a safe. With Bitcoin, you are the bank! Just follow these simple steps:

1. Get a Trezor or Ledger.
2. Initialize it and write down the recovery seed.
3. Use an additional passphrase and keep it in your head (don't write it down).
4. Transfer your coins to that wallet (seed + passphrase).
5. Store the seed (but not the passphrase) in 3-4 separate places.
6. Done! Your coins are more secure than any vault in Zürich.

That's the beauty of Bitcoin. Being non-physical has its perks!
Now, try to do this with gold or silver...

[fillippone]

Is a interesting chart...

Last 7 days BTC netflows across 11 exchanges. Data by
@thetokenanalyst
 (I've used our enterprise websocket feed to generate this chart) #btc #onchain

Source: https://twitter.com/madewithtea/status/1203255944009961473

Average monthly spreads, expressed as a percentage of the price, range from 0.045 percent on Coinbase in March, to 0.304 percent on itBit in July. For comparison, bid-ask spreads on Vanguard ETF products right now range from 0.01 percent to 0.09 percent.

Exchanges' activities on the bitcoin network tend to follow predictable patterns, indicating net inflows. However, large balances often move in unpredictable ways and it can be difficult to distinguish the flow of capital from a change in custodial practice

Source: https://www.coindesk.com/bitcoin-volatility-is-up-liquidity-stagnant?utm_source=dlvr.it&utm_medium=twitter

Once again good work, LUCKMCFLY, even if I think 2 of 3 graphs need more analysis.

Please tell me what should I read in the first chart: I see an horizontal line of dots without any meaning, to me at least. Also: what is an inflow? Fiat inflow? Or everything inflow? In any case: how do you measure it? If I weren’t a polite person I would say that graph is garbage.

Second chart is very interesting: 10 BTC is quite an institutional size, I see many guys willing to trade 10 BTC at once. I am quite surprised seeing Coinbase topped ho that list. Also surprises me seeing Gemini so in the back seats.

Third graph, again it would be interesting, but we know too little about storage management from exchanges to infer really useful informations.
 

[arklan]

hi guys. back from the proverbial dead...

still ticking along like always i see.

Where ya been? If you are being literal how was Hades?

short version, life. nothing too major, just broke and barely employed for a few years. lost interest in the forum, among other things. moved, got a decent job that i'm actually kinda proud of again.

if you play games, seen the recent release a couple of weeks ago of the Age of Empires 2 Definitive Edition? i had a hand in it from the quality assurance side.

that and a guy i owe made me aware of how much signature campaigns can pay so... well... *gestures to sig space*

[ivomm]

...

4/8 Thus, the “addresses w/ any balance” metric may overcount the total number of individual bitcoin users because many addresses can be associated with one individual.
https://twitter.com/intangiblecoins/status/1202950880334635020?s=20

5/8 On the other hand, many users keep their coin w/ custodians and exchanges, which may use single omnibus addresses to hold customer funds. In these cases, one address may actually represent many users, causing this metric to possibly undercount the total # of bitcoin users.
https://twitter.com/intangiblecoins/status/1202950881588719618?s=20

6/8 These two factors play against each other, and it’s extremely difficult, if not impossible, to determine the extent to which they offset each other.
https://twitter.com/intangiblecoins/status/1202950882880606208?s=20

I think it is safe to say that BTC owner is someone who owns the keys. At the moment  such person deposits ALL his BTC's on an exchange, he delivers the possesion to the exchange. Whether he sells them immediately or waits for better price does not make him BTC owner anymore. And if someone buys BTC's but keeps them on an exchange he is also not an owner. These people are traders who don't care what they trade, only care for the profit. Therefore, the number of BTC owners (real investors) is less than 28 mil. Provided that almost everyone has at least 2 addresses (and some more than 10), the real number is much smaller, probably below 14 mil. Compared with the Earth population and the 3 mil BTC's left to be mined, it is clear that the mass adoption has only just begun.

You seem to have a perverted way of taking not your keys not your coins to an extreme, ivomm.

Of course, if custodians have bitcoin keys they can brute-forcedly fuck peeps out of their coins, whether by hook or by crook or by accident.  But having a claim to coins rather than holding actual coins does not mean that those people with claims to coins are not bitcoin holders, even though they personally are not holding the keys.

Get real.   Think about it.  Don't be giving any license to coin custodians to believe that they own the coins under their control, and custodians still have fiduciary obligations, even if they get a lot of leeway in their legal rights and even their historical corrupt practices and abuse in that direction.

If people had absolutely no faith in institutions custodying their value (whether bitcoin or otherwise), we would have a lot of fucked up situations and likely be in a kind of stone age that lacks in finances and money and inferior systems that involve trading cows and chickens, etc etc.

So, anyhow, there may be some bitcoin wallets that custody the bitcoins of thousands or even millions of users, and of course, most exchanges are going to engage in some dividing of the assets under management, so institutions might also have some addresses that hold a large number of bitcoins and other wallets with smaller amounts of bitcoins and in the end, there are real people and real institutions that have valid and legit claims to those coins under management..even if their claim has legally (and reality) inferior status than the coin of someone who is actually holding his/her/its own coins and private keys.

In general I like your thinking except in cases like this, where you either didn't read carefully or write without thinking. But I am in a good mood, so I will explain the obvious.
-If you sell your coins, you are not an owner anymore. You once were, but the statistics cover only the addresses with a positive balance NOW, amInotRite?
-If you transfer most of your coins to an exchange but keep at least some dust in one of your addresses, then you are technically still an owner.
-If you transfer ALL of your coins to a personal address which is given by an exchange, you are technically not an owner, because there is a chance that the exchange or a hacker can scam you and you won't be able to withdraw it back. You heard about "Not your keys, not your coins" (MtGox hinted).  BUT, I wasn't even talking about this case, because these addresses might be counted by this survey. I was referring to the last type:
-Finally, if you give ALL your coins to a friend, trust, OTC, whatever, and you don't have a personal address and ability to controll your bitcoins, then how the HELL you can claim you are an owner?!? You are a seller who is in process of selling, or shorting, or trading or whatever. The same applies for non physical futures trading. Why should we count those people as Bitcoin investors? They are like every other gambler who puts money on horses or whatever. No matter there might be millions of them. The point of this survey is to show the number of addresses hence people behind them (as an estimate), who are involved in real possesion of BTC at this particular moment. And this number is shockingly low <<28 mil, which is a very good bullish sign, so let's not spoil it with  nonsense verbiage anymore, mmmkey?

[makrospex]

By the way:
This week i was up for a visit to the bank. A bank of which i am not a customer.
As i don't really want to keep my seeds and (future) paper wallets at home, i asked for the price of a safe and if the contents are insured an all.
Mr. bankster asked me about the value and physical size of the entities i plan to put in there, so i said it would be foldable paper and a handful of items of the size of a matchbox. When he asked me for the value, which determines price and insurance, i said it is volatile in value and it might be anything between x1 (by current btc price) and x100 or even more in the next 30-50 years. So Mr. bankster said he has to contact his boss, who is the local manager of the safe, who in turn should call me on the same afternoon for speaking about details and possibilities.
I never heard of them again, no call from either of the two.

Well, this leaves me with the impression that safes seem to be a pain in the ass for banks (or this bank only, idk).
I found it quite unfair to base the price to rent a safe on the value of the content. Insurance, yes, that didn't surprise me that much. Seems like they out the amount which was estimated the value of the safe contents for. I can't just pay only for the safe and insurance covers the value of all that's in it, in case of physical desctruction, theft and loss.

Trying to get useful service from a notary will be coming next. I'll keep you posted.

No need for a safe. With Bitcoin, you are the bank! Just follow these simple steps:

1. Get a Trezor or Ledger.
2. Initialize it and write down the recovery seed.
3. Use an additional passphrase and keep it in your head (don't write it down).
4. Transfer your coins to that wallet (seed + passphrase).
5. Store the seed (but not the passphrase) in 3-4 separate places.
6. Done! Your coins are more secure than any vault in Zürich.

That's the beauty of Bitcoin. Being non-physical has its perks!
Now, try do this with gold or silver...

That's how i planned to do it originally, since i already have the ledger, but i wanted to keep it for active future use, with a small amount on it. A second one wouldn't be bad, i guess, but the main reason for keeping cold storage in a secured place is the "thug-with-a-hammer case", for example. If a family member gets kidnapped, i will have to get to the safe, for example, and i could call for professional help by asking an employee, without the bad guys knowing.
Just going through possible cases in my mind...

EDIT: Additionally, if i suddenly leave this life, i want my children and wife to take over the wallets. There will be trouble with the passphrase, i guess.