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

[El duderino_]

VB1001 while we're at it, I resisted the hat fad for many long weeks, much to micgoossens' consternation, until finally cap-itulating to conformity

I read it this morning, it took you a while to put on your hat, but I preferred not to publish it, the important thing is the result, we all have a hat, I appreciate your sincerity.
You are a grumpy guy , but you are always telling the truth and this honors you, never change.

Hé didn’t wanna join the evil HAT-cult if I remember it correctly, I still have the V8 avatars with no HAT protests etc

He was clearly joking or just being V8....

[LUCKMCFLY]

BITCOIN / GOLD Ratio...

BITCOIN / GOLD Ratio currently stands at 5.15 and has risen +2.97% in the last week of trading against gold. (against the SP500 it risen +2.52%)

Source: https://twitter.com/BitcoiF/status/1203726525352349697

[Biodom]

I don't want to mention any alts, but it is a bit strange that AA starts talking about multiple chains forming the "Internet of money". Here:
https://www.youtube.com/watch?v=_VG-zln3TUg

The only current weakness I see in bitcoin is a potential for a sudden fee increase, which should be alleviated by the LN in principle, however, it's the details that matter. Not a problem right now.

VCs will be hyping other chains, that's beyond the question. SEC tackled telegram for now, but there will be others.
Anybody knows if is there a vehicle that trades bitcoin dominance? It could be an interesting hedge trade.
PlanB, incidentally, thinks that dominance is about to spike higher ("Guess, what's next" twit)
https://twitter.com/100trillionUSD/status/1203012308513017856

[bitserve]

IIRC the first hats were not specifically intended to be worn as an avatar. Maybe xhomerx could clear this point and... WTF was he thinking when he came up with the idea

Also was it Hairy the first one to wear his (Genesis) hat as an avatar or was it Rosewater? Were it had been Rosewater that would surely reinforce the cap-itulation meaning of it.

There are also some semi hat related anecdotes like when Vod decided it was a good idea to poke/mess (presumably just for fun) with Mic and it was like the first time a thread out of WO got quickly filled with hats: https://bitcointalk.org/index.php?topic=5065375.0

[AlcoHoDL]

Thanks so far for your suggestions and opinions on the secure, inheritable seed storage topic.
It's a hell of effort for me to quote everybody's contribution i'm referring to here, so i round it up in this unilateral post, to avoid to totally mess it up.

I now consider storing one half of every seed in a place where i must have at least personal contact to a human to access the seedwords.
That means safe (yuck) or notary. Maybe both, half seedwords in the safe, passphrase at the notary for post mortem inheritance reasons or something like that.

JJG: I didn't tell the bank's employee anything about crypto, and i would i never do so. I just mentioned folded, single paper sheets and little items. I guess i will keep the ledger(s) at home for everyday use and to follow the two-level anti-thug advice of sacrificing a few % of my crypto (by mindrust, if i'm correct), which was also brilliant.

Somebody was curious about the country, it's Austria (the one without the kangaroos).

The finger is doing nice, at least no signs of infection and i can use it for typing again. This should end well, and i regard that as a warning by the universe, to follow safety standards with cutting tools. Even worse, i have a pair of kevlar gloves lying around. I should have used them. Once i rammed the base of my thumb into a sharp sheet metal edge, which got it cut half off, with a lot more blood, hospital, stitches and temporary nerve damage involved. Doctors did beautyful work, ten years later the scar is very light and thin.

Thanks for the love, practical tips and support so far #nohomo

I'm in read-only mode for the rest of the day or two, need to make a few wood/metal rings (jewellery) soon, which still needs quite some research and experimentation, and also craft another two of those bitcointalk anniversary ebony poker chips, using a different process.

There's better than that... Satoshi labs have BIP (and have implemented there own version) for a key sharing on the trezor:
https://blog.trezor.io/shamir-backup-the-revolution-of-private-keys-backup-is-here-858687ed7fe7

As soon as I saw that, I bought the model-T (already have the one, but is unsupported on that).

Now I have mailed out shares to my most trusted friends and family, signed and sealed with an explanation letter so that if anything happened to me it can all be recovered. Made A LOT of shares and most of them are required for recovery.
Originally I did split the seed words, but that does mean the number words required to be guessed is greatly reduced. I my case they had 2/3rds of the words, so just 1/3rd had to be guessed. With the Shamir there's no worries there.

Just would be nice for others to implement the BIP!

That's a nice feature. Unfortunately, I have the One, so I can't use it. Good to know it can be done with the T.

Another thing I want to add to the discussion is that, when it comes to passphrase choice and seed storage/protection, we should apply the KISS principle. Keep things simple and don't overdo it. There was a time when I devised a complex method for generating ultra-strong passphrases, using a random number generator with its own numerical seed, that pointed to words in a book. It made me feel very secure, until there came a time when I had to unlock the data, at which point I realised I had totally forgotten the passphrase or how to generate it! Fortunately, that was long before I got into Bitcoin, it had to do with file encryption. Was a lesson for me, not to be too paranoid, while ensuring the passphrases are strong.

[El duderino_]

IIRC the first hats were not specifically intended to be worn as an avatar. Maybe xhomerx could clear this point and... WTF was he thinking when he came up with the idea

Also was it Hairy the first one to wear his (Genesis) hat as an avatar or was it Rosewater? Were it had been Rosewater that would surely reinforce the cap-itulation meaning of it.

There are also some semi hat related anecdotes like when Vod decided it was a good idea to poke/mess (presumably just for fun) with Mic and it was like the first time a thread out of WO got quickly filled with hats: https://bitcointalk.org/index.php?topic=5065375.0

I actually liked that thread a lot and the HAT invasion though JJF***G must appear in his classic style of-course 
https://bitcointalk.org/index.php?topic=5065375.msg47695534#msg47695534

But overal it was a fun moment at that time ....

[jojo69]

IIRC the first hats were not specifically intended to be worn as an avatar. Maybe xhomerx could clear this point and... WTF was he thinking when he came up with the idea
https://bitcointalk.org/index.php?topic=5065375.0

I think his exact words to me were "here, put this on"

[bitserve]

IIRC the first hats were not specifically intended to be worn as an avatar. Maybe xhomerx could clear this point and... WTF was he thinking when he came up with the idea
https://bitcointalk.org/index.php?topic=5065375.0

I think his exact words to me were "here, put this on"

Yup but... Was it figuratively? I really don't know. I really can't remember nor am completely sure after re-reading. Maybe my retrospective perception is wrong.

In any case it would be very interesting to hear what xhomerx was exactly thinking when he started it all

[JayJuanGee]

From my recollection, this early hat history conversation goes back before October 15, 2018 - because I believe that the main reason that V8 was razzing Hairy so much about hat eating was because months earlier Hairy had said that he would eat his hat if there was certain BTC price movement.  I can't remember exactly the bold prediction, so I went back and looked at Hairy's posts for many months before October 15, but I could not find such post.. so I cannot exactly refresh my memory with an actual post.

This possibly?

Are we crashing upwards again? This is confusing, isn't it?

A full month continually crashing and we are only a few thousands below ATH. Yeah.

We are bottoming. If not this week, then next week.  I’ll eat my hat if we are still bumping $12k in late January.

Peter R:  take your shitty altcoin somewhere else.  Maybe the Ripple fools will buy it.

Holy shit!!!!  I think that may be the originating promise of a hat-eating post.  I had only gone back searching to about April 2018 looking for some kind of thread of that discussion.

Of course, members sometimes would promise all kinds silly-ass shit, including infofront promising to suck everyone's dick if BTC reached $100k by the end of 2018, rosewater started to post food pics of sandwiches and calamari, which may even kind of relate to Adam historically promising to buy beers at various points that the BTC price moved that seemed to have motivated Bob into his beer-buying promise if BTC sunk below a certain price and various other BTC price-related promises like that. 

Regarding the Hairy hat eating promise, I had recalled that there had been at least a little bit of back and forth about Hairy saying that he would eat his hat (but I did not see any back and forth around January 11), yet the hat eating promise seemed to have been part of the motivation for why V8 was playing upon that kind of a hat-eating theme - which thereafter resulted in XhomerX10 offering hats to various members (not necessarily for the purpose of eating, but instead based on some of the posts of MicGeese saying that he had been buying bitcoin related hats).... so the eating-of hats promise component kind of got lost in the way the hat-obsession tradition evolved.  Go figure.

[bitserve]

IIRC the first hats were not specifically intended to be worn as an avatar. Maybe xhomerx could clear this point and... WTF was he thinking when he came up with the idea

Also was it Hairy the first one to wear his (Genesis) hat as an avatar or was it Rosewater? Were it had been Rosewater that would surely reinforce the cap-itulation meaning of it.

There are also some semi hat related anecdotes like when Vod decided it was a good idea to poke/mess (presumably just for fun) with Mic and it was like the first time a thread out of WO got quickly filled with hats: https://bitcointalk.org/index.php?topic=5065375.0

I actually liked that thread a lot and the HAT invasion though JJF***G must appear in his classic style of-course  
https://bitcointalk.org/index.php?topic=5065375.msg47695534#msg47695534

But overal it was a fun moment at that time ....

Really funny yeah. Somehow the thread got locked after several JJG walls of text and before I could post some memes about Vod "throwing gas to a fire.gif".

[JayJuanGee]

By the way, I am still on the lookout for a reliable dead man switch arrangement. I'm afraid if anything happens to me, my family won't be able to collect. Any tips? Should I open yet another thread "out there"?

The best way I can see this working is by already transmitting the transaction, to a wallet that your family already own, but with a time delay of anywhere between a few months and a decade (depending on your desire for maintenance). I'd like to think this can be done by transmitting into a specific block in the future with nLockTime (discussion here), but I may be wrong. Possibly there are features within the lightning network that can facilitate this as well but again not sure.

This would act as the most reliable insurance for worst case scenarios, and don't already have shared custody set up, but more importantly would guarantee that your family get your Bitcoin, at an eventual date of your chosing - without the need for the switch, which is a single-point-of-failure in itself. What if you don't have access to your switch for example? Pragmatically speaking this is what you want I believe, a permanent solution dependent only on the variable of time, as opposed to your access to a switch.

Hope that helps with the brainstorming.

Thanks for your reply, dragonvslinux.
Unfortunately, your proposed solution doesn't cut it for me.
My family are mostly nocoiners.
Besides, I don't like to set up a transaction to a different address. IMO, the coins shouldn't move if there is no need to cash out.
What I would like to do is send an encrypted email with instructions on redeeming a wallet through its seed - and send it NOW.
The dead man switch I am imagining would just send the key to decrypt the email containing the seed.

You better hope that those lame heirs of yours do not delete the email or fail to keep that e-mail account active.

In late 2014, I recall that the price of Bitcoin was around $385 at the time.  I had verified an e-mail address of a friend and his son.  I told the dad that I was sending bitcoin to both him and to his son, and I wanted to make sure that I sent the bitcoin to a properly valid e-mail address.  He verified the e-mail addresses and I sent the bitcoin to each address.  I believe that I confirmed with him a couple of times soon after sending the bitcoins and then again about a year after I had sent the bitcoins. 

Then in about January 2018, he "became aware" of bitcoin, and realized that the value that I had sent him had gone 50x at some time towards the top of BTC's price move but he had not opened either of the e-mails.  He said that he no longer had access to those e-mail accounts because they were tied to a family domain name and account that had been closed. I told him that there was nothing that I could do about it on my end.  Maybe I was acting as if I was dead, and I had already done me part, including reminding verifying with him and reminding him on a couple of occasions, but he did not take any action at all to secure the value (the e-mail), until it was too late.

I could think of other scenarios too, in which using an e-mail address might not be so great, and it might not even be the fault of the intended BTC recipient - third party risk that involves them continuing their services.  Remember in the early 2000s, so many people built websites on geocities, and sure they announced that they would be closing down, before they did close down, but a lot of people lost their data if they did not back that data up when they did actually pull the plug from their services.

[JayJuanGee]

Makes me think we're about to strike upwards

Im a Debbie Downer then, thinking to be looking for some ironic bearish twist where we top out in positions held.   Just like alot of shorts in a price is a time to consider the opposite ?

From your post, I cannot really determine who you are quoting STT, but I gather that you are proclaiming that BTC shorts are starting to pile up, currently?  or they are not?  A little unclear. 

I would recognize that there does seem to be some incentive or fuel that can help to inspire the REKKING of either BTC shorts or longs when they become overly exuberant in their chosen bet direction and they fail or refuse to hedge the opposite direction, and since we cannot track each of the BTC margin traders it is hard to determine if the same traders are getting REKKT over and over again or if the causing of REKKT is a phenomenon that more experienced traders largely employ against the novice traders who want to get rich quick, and even if such novice traders might learn lessons from their gambling too much on one BTC price direction, there tends to be little to no shortage of new novice traders coming into a space, such as bitcoin, in order to try their luck in the margin trading game.

[JayJuanGee]

Looking for the beginning of the hats, written directly, highlighting, the most interesting, just trying to tell this beautiful story:

When reviewing the pages of 2018, the first publication that refers to a hat is a Last of the V8s publication, it seems that it was the trigger of the WO hats at the HairyMaclairy appointment.

From my recollection, this early hat history conversation goes back before October 15, 2018 - because I believe that the main reason that V8 was razzing Hairy so much about hat eating was because months earlier Hairy had said that he would eat his hat if there was certain BTC price movement.  I can't remember exactly the bold prediction, so I went back and looked at Hairy's posts for many months before October 15, but I could not find such post.. so I cannot exactly refresh my memory with an actual post.

I don't know, this morning I arrived until October 10 and I didn't find anything about it and the phrase V8 have you ever eaten a hat?
It refers to the previous publication of hairy for BFX deposits 15 Oct.

https://bitcointalk.org/index.php?topic=178336.msg46903711#msg46903711

I do agree that it can be quite funny or ironic how each of us can have differing recollections of aspects of history, and even which parts of the history had pushed forward the dominance of a certain kind of narrative.

Of course, not too much unlike the blindfolded folks assessing what is an elephant from their various perspectives.



Or, perhaps more accurately, like two elephants wrestling?



The one on the bottom is me... hahahahahaha:  "I give up.  I give up."   The one on the top is VB1001.  

[JayJuanGee]

Gann's theory suggests buying the possible dip before the angels touch the next spectrum which will follow the price after the $11250. The Gann theory is widely used in stock and forex technical analyze, is it same for BTC charts? Any ideas?



P.s: Photo is from Twitter.

Yeah, but where is the twitter link?  or the twitter user.  It is better practice to attempt to give appropriate credit, even to the re-tweeting of the ideas came from someone else.

By the way, the Gann theory visual looks quite pretty on that graph, but I am a bit unclear what the theory would be saying in that particular visual.

Members attempt to employ all kinds of technical analysis that involves the drawing of lines, and surely there are going to be times in which the lines help to bring the matter of BTC price performance into perspective, yet with any theory, we have to take them  with grains of salt, and surely there are a variety of theories in bitcoin that attempt to combine technical analysis and fundamentals in order to come up with relatively convincing price description and prescription models... of course, we don't know for sure if any of the models or theories are going to play out in the longer term until time passes that might lend more or less credibility to the model, theory or even tools that might be employed to come up with theories and models.

[mindrust]

Gann's theory suggests buying the possible dip before the angels touch the next spectrum which will follow the price after the $11250. The Gann theory is widely used in stock and forex technical analyze, is it same for BTC charts? Any ideas?



P.s: Photo is from Twitter.

Yeah, but where is the twitter link?  or the twitter user.  It is better practice to attempt to give appropriate credit, even to the re-tweeting of the ideas came from someone else.

By the way, the Gann theory visual looks quite pretty on that graph, but I am a bit unclear what the theory would be saying in that particular visual.

Members attempt to employ all kinds of technical analysis that involves the drawing of lines, and surely there are going to be times in which the lines help to bring the matter of BTC price performance into perspective, yet with any theory, we have to take them  with grains of salt, and surely there are a variety of theories in bitcoin that attempt to combine technical analysis and fundamentals in order to come up with relatively convincing price description and prescription models... of course, we don't know for sure if any of the models or theories are going to play out in the longer term until time passes that might lend more or less credibility to the model, theory or even tools that might be employed to come up with theories and models.

Technical analysis in a nutshell:

-It will go up, down or sideways.

I am yet to see a TA which says something different. It is always the same. May go up, may go down, may go sideways.

*Alright sometimes they say it can go backwards too.

[jupiter9]

Lol you never saw any TA where they predict tops or bottom prices?

[mindrust]

Lol you never saw any TA where they predict tops or bottom prices?

I did.

They also say the same thing.

Just because some TA expert pointed out a bottom price, doesn't mean it can't go to zero.

[Wekkel]

We need to have patience. Current tech wasn't built in a day either. On the contrary, watching this old show: https://www.youtube.com/watch?v=Tx6Cq2ZU_ps
is a nice example of tech being there for 10-20 years already before it really takes off.

The hard part is the waiting.... 

[JayJuanGee]

I don't want to mention any alts, but it is a bit strange that AA starts talking about multiple chains forming the "Internet of money". Here:
https://www.youtube.com/watch?v=_VG-zln3TUg

The only current weakness I see in bitcoin is a potential for a sudden fee increase, which should be alleviated by the LN in principle, however, it's the details that matter. Not a problem right now.

VCs will be hyping other chains, that's beyond the question. SEC tackled telegram for now, but there will be others.
Anybody knows if is there a vehicle that trades bitcoin dominance? It could be an interesting hedge trade.
PlanB, incidentally, thinks that dominance is about to spike higher ("Guess, what's next" twit)
https://twitter.com/100trillionUSD/status/1203012308513017856

Regarding your first link to the about 20 minute Andreas Antonopolis YouTube video presentation, I don't conclude that AA is really changing his position very much, but he does seem to come out fairly strongly in his ongoing tolerance for a multi-coined future, which seems to give more free market credit to a lot of the shitcoin projects than they likely deserve. 

So, he does seem to kind of come out swinging in his assertion that he has been misunderstood and mislabelled into the maximalist camp (suggesting that the bitcoin community likely has been assigning him as a bitcoiner) and he wants to argue and set the case clear that he is not a maximalist anything.... blah blah blah...  which he makes a lot of references to various ethereum projects and suggesting that those shitcoin projects have some kind of meaningful contributions to the world of crypto.. blockchain.. internet of money.. blah blah blah.

So, yeah, he has been criticized for tolerating and/or enabling too much shitcoin pumpenings and sometimes adopting and accepting too much of the shitcoin propaganda language through his seemingly ongoing enamor of the tech contributions of various shitcoins - even though he does seem to understand concepts of sound money, he also seemed to be downplaying any attention to sound money ideas in this particular presentation and seems like he did not even mention bitcoin one time in the presentation (likely on purpose because he is having an internal struggle against king daddy... hahahahahahaha). 

[JayJuanGee]

IIRC the first hats were not specifically intended to be worn as an avatar. Maybe xhomerx could clear this point and... WTF was he thinking when he came up with the idea

Also was it Hairy the first one to wear his (Genesis) hat as an avatar or was it Rosewater? Were it had been Rosewater that would surely reinforce the cap-itulation meaning of it.

There are also some semi hat related anecdotes like when Vod decided it was a good idea to poke/mess (presumably just for fun) with Mic and it was like the first time a thread out of WO got quickly filled with hats: https://bitcointalk.org/index.php?topic=5065375.0

I actually liked that thread a lot and the HAT invasion though JJF***G must appear in his classic style of-course  
https://bitcointalk.org/index.php?topic=5065375.msg47695534#msg47695534

But overal it was a fun moment at that time ....

Gosh you are a hater!!!!!!!

 


I tried to use this meme against someone else, but it ended up backfiring to resemble my avatar too much.  

So I am going to have to embrace such meme, and apply it here in regards to the ongoing hate of the micgeese.

IIRC the first hats were not specifically intended to be worn as an avatar. Maybe xhomerx could clear this point and... WTF was he thinking when he came up with the idea

Also was it Hairy the first one to wear his (Genesis) hat as an avatar or was it Rosewater? Were it had been Rosewater that would surely reinforce the cap-itulation meaning of it.

There are also some semi hat related anecdotes like when Vod decided it was a good idea to poke/mess (presumably just for fun) with Mic and it was like the first time a thread out of WO got quickly filled with hats: https://bitcointalk.org/index.php?topic=5065375.0

I actually liked that thread a lot and the HAT invasion though JJF***G must appear in his classic style of-course  
https://bitcointalk.org/index.php?topic=5065375.msg47695534#msg47695534

But overal it was a fun moment at that time ....

Really funny yeah. Somehow the thread got locked after several JJG walls of text and before I could post some memes about Vod "throwing gas to a fire.gif".

I must have ruined dee moo, like a real party poop.