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

[Icygreen]

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...

 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.

I may have suggested this before, sorry if I repeat but there's an easy solution to this.
Keep your seed in several locations under your control only. Keep the passphrase with several family members but never written with the seed.
Sleep easy knowing it would likely take calculated and direct efforts to compromise both locations to reveal the private key. 

Late Edit:  AlcoHoDL's advice above is likely the most secure option but probably too much for the average Hodl that does not have hundreds of thousands or millions in coin to safeguard. Most anyone who will be robbed will also have been targeted and likely with some knowledge of the amount of holdings they are after.
I don't however agree with HairyMaclairy in separation of seed words for the simple reason of 2 possible sources needing to remain secure.
Jupiter troll  post below this made me lol.

Sorry to hear about your finger.
I've done one of mine many years ago in a box and pan break. No fun

[jupiter9]

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.

Bank safes are not for the storage of valuables.  

It’s in the terms and conditions.  I kid you not.

Also the #1 way to lose bitcoins is to have a passphrase that is not written down.

Best way is to split the seed into 2 parts and store multiple copies into multiple geographically separated locations, preferably offshore or at least at the other end of the country.  

Yeah! That's what i did! I Have separated my passphrase into 2 parts and stored them 1 in Africa, 1 in Europe , 1 Jamaica under the palm tree,  1 Antartica under the thick ice, 1 half on this forum and i told the other half to Satoshi Nakamoto because he won't tell anyone.

[jojo69]

tail

dog

whatever


I rather hope LTC is finally finding a bottom here.

[El duderino_]

tail

dog

whatever


I rather hope LTC is finally finding a bottom here.

?? What is this LTC??

[jupiter9]

tail

dog

whatever


I rather hope LTC is finally finding a bottom here.

You hope? What? That's a sinking ship. The captain Charlie Lee left the sinking boat right on time. Let that sink in! The boat i mean.

[arklan]

what's this about LTC dying? i never had any, but i'm curious and clearly missed hearing about it failing.

[El duderino_]

what's this about LTC dying? i never had any, but i'm curious and clearly missed hearing about it failing.

Nobody says it failing ..... I’m just being drunk and I don’t know what else

#HODLsleep in a few seconds..... brainbreakdown and knock out!

[jojo69]

it's not doing well

[1miau]

Hello everyone, I've launched a giveaway where you can win some free BTC: Educational giveaway | guess first Bitcoin Block in 2020 [9.5 mBTC].
Rules are easy, you have to guess Bitcoin's first block in 2020. Who comes closest will win. 

Feel free to participate and challenge us (especially Last of the V8s):

I am going to win and I am going to be rich you have been warned.

Don't let him win so easily! 

[lightfoot]

Quick question: I'm doing some side mining with a rebuilt S9 I got for nothing. Checked the stats page and it says foundblocks=1.

Did this thing solve a block? Sure I'm at Slush, so I get zilch, but if so that would be an unusual thing....

[jojo69]

it does happen

I found blocks with my 6950s back in the day

[Hueristic]

And 11 = 3

11 = 3

W00ps, I was too late.

[xhomerx10]

Quick question: I'm doing some side mining with a rebuilt S9 I got for nothing. Checked the stats page and it says foundblocks=1.

Did this thing solve a block? Sure I'm at Slush, so I get zilch, but if so that would be an unusual thing....

 Well slush found a block about 4 hours ago.  Is that the time frame?  Congratulations!
https://www.blockchain.com/btc/block/000000000000000000113776dc80fef4bc3c41a1eb07261e92536d8f8e0c3af7

[arklan]

And 11 = 3

11 = 3

W00ps, I was too late.

...wat?

also, why would being at slush mean you get nothing? you just mean the whole pooled mining situation generally or is there an issue with slush?

[jojo69]

he just means there is no bonus for actually bringing the noise

[nutildah]

Happy Sunday, y'all. A little something for everybody.

[arklan]

he just means there is no bonus for actually bringing the noise

ah, right.

as to the ...next post... i... i have many questions.

none of which i actually want to be answered.

[jojo69]

Happy Sunday, y'all. A little something for everybody.

holy fucking trollioio

[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

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.
 

Hi fillipone, thank you very much and of course I published that 1st chart because I associated it directly to the data offered by tensorcharts.com:



 In the yellow box that I remarked belongs to the volume zone, each ball represents data of purchases and sales, where it is an indication of the number of operations by volume, when the translation is made in the volume it seems as if it were linear, and that's why it looks horizontal and they did it for several Exchanges, it's like a compendium of the same, I found it interesting to show it.


The second and third chart I show because I want to emphasize something interesting, they only limited to show the 10BTC trade, and they do it to inform according to:

 
 https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html

Where they wanted to capture this information through the graph, and as you say we know very little about the storage management of exchanges to infer very useful information.

And according to this I think 2 things that have helped me a lot:

1.- As there is no consolidated Volume for the Bitcoin market, these statistics are not completely reliable, but it brings me closer or gives an idea of ​​what may be happening over the years.

2.- I have learned that when in the part of (100-1000) BTC when it reaches 75-80% it gives me confirmation that the bullish trend phase began.( It is currently at 61.87%, according to the table.)
Of course, it is my way of seeing and taking advantage of these graphs and it helps me to identify the phases of the market well, starting from this premise because that is when the offer ends, representing 75-80% of accumulated bitcoins and is ready to raise price.

Note: I think that there is still no consolidated volume where I take into account all the existing volumes in all Exchanges, because they do not take into account the volumes of Korean Exchanges, some of localbitcoins and that information is very important, however I consider that many Strong Hands do they have this tool through development that some programmers have implemented and they pay for them, only for their exclusive use.

And tensorcharts.com is one of the tools that I have achieved very useful because the green and red volume part represents: green = purchases, red = sales, has a very real order book, and the version that is through payment offers a profile volume well adapted to reality.

[Paashaas]

Grayscale Bitcoin Trust stock in top 5 by millennials, while Gen X and Boomers....



https://www.businesswire.com/news/home/20191204005172/en/Schwab-Report-Self-Directed-401-Balances-Hold-Steady