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

[Gyrsur]

#human activity#

I'm thinking about how to split 1 BTC for future use. if the price will go somewhere to the 1m level I will however be under the radar of large fiat tx monitoring (<10k EUR) by authorities.

I'm uncertain about to spilt 1 BTC to 1,000 (0.001) or 10,000 (0.0001) adresses and hold them on a TREZOR.

any thoughts on that from you guys?

EDIT: but I think split 1 BTC to 1,000 adresses (1,000 x 0.001) should be enough.

All the effort we made in 2017 to try merge our BTC to avoid outrageous fees when claiming forks and now you are telling us it was an stupid move?

On perspective, yeah, it somehow was.

But... splitting one BTC into 1000 addresses? That is even more stupid.

If you want to split a BTC why not something like: 1x0.5, 1x0.25, 2x0.1, 5x0.01

I don't think the price will go somewhere near that "1m" level, at least not in this decade, but... if it happened I am sure I would have enough money to solve the problem and don't care.

Really, you don't want to split a BTC into that many useless parts that could be worth even less than the fees to move em.

two aspects: long term hodling and privacy. (https://en.bitcoin.it/wiki/Address_reuse)

at the moment it is a boring time with such low fees for txs. in the last days I got confirmed a tx (< 10$) in the very next block with just a fee of < 0.01$(!). in early times it was possible to get txs approved with no fee but I'm not sure if it will work today anymore (all wallets don't allow tx without a fee i guess).

EDIT: I very like the concept of paper wallets with 1 BTC on it. but think about the future. you will have later several $200,000 or $500,000 papers in your tresor at home laying around?   

[bitserve]

two aspects: long term hodling and privacy. (https://en.bitcoin.it/wiki/Address_reuse)

at the moment it is a boring time with such low fees for tx. in the last days I got confirmed a tx (< 10 $) in the very next block with just 0.01$ fee. in early times it was possible to get txs approved with no fee but I'm not sure if it will work today anymore. (all wallets don't allowed tx without a fee i guess).

Fees are low right now, but if Bitcoin grows fees with be high again. Maybe not that high as in Q4 2017, but still.

For the privacy aspect, unless you use a mixer or do some very convoluted movements yourself it will still be relatively easy to see where those smaller addresses come from.

And if you do use a mixer or are able to really ofuscate your coins... then comes the problem on future AML/KYC where you could have problems spending your coins.

Conclusion: Having some partition for your coins, yep. But not too much.

At least that my personal opinion on the matter.

[Gyrsur]

two aspects: long term hodling and privacy. (https://en.bitcoin.it/wiki/Address_reuse)

at the moment it is a boring time with such low fees for tx. in the last days I got confirmed a tx (< 10 $) in the very next block with just 0.01$ fee. in early times it was possible to get txs approved with no fee but I'm not sure if it will work today anymore. (all wallets don't allowed tx without a fee i guess).

For the privacy aspect, unless you use a mixer or do some very convoluted movements yourself it will still be relatively easy to see where those smaller addresses come from.

how? I'm very interested in your answer, really. (if you still have fragmented amounts of 1 BTC in your hardware wallet it will be no large issue. i can send you 0.001 BTC and you should tell me afterwards since when i hodl the the source amount and how much the source amount was.)

And if you do use a mixer or are able to really ofuscate your coins... then comes the problem on future AML/KYC where you could have problems spending your coins.

if you have countries like Portugal or Germany (where you just have to prove you own the address more than a year) i do expect not a large problem even if you have to go with the AML/KYC procedure.

Prove of ownership more than a year in the past for a single adress with a amount of 0.001 BTC on it would be perfect for me in 2027.  

[JayJuanGee]

Chart view:
I expect 4H candle to become (and close in) green, and in turn, daily too.
The road for next pump should be paved then.

Are you guaranteeing this?      Did you, first, consult with fucktwat bargain boyz?   

[El duderino_]

#human activity#

I'm thinking about how to split 1 BTC for future use. if the price will go somewhere to the 1m level I will however be under the radar of large fiat tx monitoring (<10k EUR) by authorities.

I'm uncertain about to spilt 1 BTC to 1,000 (0.001) or 10,000 (0.0001) adresses and hold them on a TREZOR.

any thoughts on that from you guys?

EDIT: but I think split 1 BTC to 1,000 adresses (1,000 x 0.001) should be enough.

All the effort we made in 2017 to try merge our BTC to avoid outrageous fees when claiming forks and now you are telling us it was an stupid move?

On perspective, yeah, it somehow was.

But... splitting one BTC into 1000 addresses? That is even more stupid.

If you want to split a BTC why not something like: 1x0.5, 1x0.25, 2x0.1, 5x0.01

I don't think the price will go somewhere near that "1m" level, at least not in this decade, but... if it happened I am sure I would have enough money to solve the problem and don't care.

Really, you don't want to split a BTC into that many useless parts that could be worth even less than the fees to move em.

two aspects: long term hodling and privacy. (https://en.bitcoin.it/wiki/Address_reuse)

at the moment it is a boring time with such low fees for txs. in the last days I got confirmed a tx (< 10$) in the very next block with just a fee of < 0.01$(!). in early times it was possible to get txs approved with no fee but I'm not sure if it will work today anymore (all wallets don't allow tx without a fee i guess).

EDIT: I very like the concept of paper wallets with 1 BTC on it. but think about the future. you will have later several $200,000 or $500,000 papers in your tresor at home laying around?   

Damn those worries....How to split or in what way to split a BTC-luxury problems, mostly solves themselves ...

More important is for those that are trying to gain with small portions a full BTC<---- thats a real problem, with a ticking clock

[xhomerx10]

#human activity#

I'm thinking about how to split 1 BTC for future use. if the price will go somewhere to the 1m level I will however be under the radar of large fiat tx monitoring (<10k EUR) by authorities if I have to transfer it to a marketplace.

I'm uncertain about to spilt 1 BTC to 1,000 (0.001) or 10,000 (0.0001) adresses and hold them on a TREZOR.

any thoughts on that from you guys?

EDIT: but I think split 1 BTC to 1,000 adresses (1,000 x 0.001) should be enough.

https://en.bitcoin.it/wiki/Address_reuse

 The cost is pretty low @ 1 sat per byte if you don't mind a few hours wait



 courtesy of https://www.buybitcoinworldwide.com/fee-calculator/

[fillippone]

#human activity#

I'm thinking about how to split 1 BTC for future use. if the price will go somewhere to the 1m level I will however be under the radar of large fiat tx monitoring (<10k EUR) by authorities if I have to transfer it to a marketplace.

I'm uncertain about to spilt 1 BTC to 1,000 (0.001) or 10,000 (0.0001) adresses and hold them on a TREZOR.

any thoughts on that from you guys?

EDIT: but I think split 1 BTC to 1,000 adresses (1,000 x 0.001) should be enough.

https://en.bitcoin.it/wiki/Address_reuse

 The cost is pretty low @ 1 sat per byte if you don't mind a few hours wait



 courtesy of https://www.buybitcoinworldwide.com/fee-calculator/

The cost per transaction is indeed very low now.
I am not that concerned about splitting my bitcoin stash into smaller amounts.
Coinjoin, Taproot, Dandelion and other privacy enhancing features will surely be widely available by the time I will spend my BTC.

(To the IRS guy reading this chat: this is highly hypothetical. I had bitcoins, but I lost my private keys on a boating accident).

[jbreher]

even though you failed and refused to get four wheel drive in it

incorrectomundo, JJG

[nutildah]

I liked the original too. 


Ot oh!

I like this one... I'm stealing it for my thread about Donald Trump memes.

[El duderino_]

even though you failed and refused to get four wheel drive in it

incorrectomundo, JJG

@jbreher, why don't you give the game a try and a small text about why you think the guessed price you would give??

[xhomerx10]

#human activity#

I'm thinking about how to split 1 BTC for future use. if the price will go somewhere to the 1m level I will however be under the radar of large fiat tx monitoring (<10k EUR) by authorities if I have to transfer it to a marketplace.

I'm uncertain about to spilt 1 BTC to 1,000 (0.001) or 10,000 (0.0001) adresses and hold them on a TREZOR.

any thoughts on that from you guys?

EDIT: but I think split 1 BTC to 1,000 adresses (1,000 x 0.001) should be enough.

https://en.bitcoin.it/wiki/Address_reuse

 The cost is pretty low @ 1 sat per byte if you don't mind a few hours wait



 courtesy of https://www.buybitcoinworldwide.com/fee-calculator/

The cost per transaction is indeed very low now.
I am not that concerned about splitting my bitcoin stash into smaller amounts.
Coinjoin, Taproot, Dandelion and other privacy enhancing features will surely be widely available by the time I will spend my BTC.

(To the IRS guy reading this chat: this is highly hypothetical. I had bitcoins, but I lost my private keys on a boating accident).

  I'm not sure it's something I need to do but I keep it in the back of my mind simply because the last time we hit an ATH, fees got quite high.

 I'm going to buy a boat; an old, leaky, high density boat.

[Gyrsur]

#human activity#

I'm thinking about how to split 1 BTC for future use. if the price will go somewhere to the 1m level I will however be under the radar of large fiat tx monitoring (<10k EUR) by authorities if I have to transfer it to a marketplace.

I'm uncertain about to spilt 1 BTC to 1,000 (0.001) or 10,000 (0.0001) adresses and hold them on a TREZOR.

any thoughts on that from you guys?

EDIT: but I think split 1 BTC to 1,000 adresses (1,000 x 0.001) should be enough.

https://en.bitcoin.it/wiki/Address_reuse

 The cost is pretty low @ 1 sat per byte if you don't mind a few hours wait



 courtesy of https://www.buybitcoinworldwide.com/fee-calculator/

The cost per transaction is indeed very low now.
I am not that concerned about splitting my bitcoin stash into smaller amounts.
Coinjoin, taproot, Schnoor signatures and other privacy mean hung feature will surely be widely available by the time I will spend my BTC.

(To the IRS guy reading this chat: this is highly hypothetical. I had bitcoins, but I lost my private keys on a boating accident).

same for me I was robbed on a India trip and lost my TREZOR to just gangsters.

[xhomerx10]

#human activity#

I'm thinking about how to split 1 BTC for future use. if the price will go somewhere to the 1m level I will however be under the radar of large fiat tx monitoring (<10k EUR) by authorities if I have to transfer it to a marketplace.

I'm uncertain about to spilt 1 BTC to 1,000 (0.001) or 10,000 (0.0001) adresses and hold them on a TREZOR.

any thoughts on that from you guys?

EDIT: but I think split 1 BTC to 1,000 adresses (1,000 x 0.001) should be enough.

https://en.bitcoin.it/wiki/Address_reuse

 The cost is pretty low @ 1 sat per byte if you don't mind a few hours wait



 courtesy of https://www.buybitcoinworldwide.com/fee-calculator/

The cost per transaction is indeed very low now.
I am not that concerned about splitting my bitcoin stash into smaller amounts.
Coinjoin, taproot, Schnoor signatures and other privacy mean hung feature will surely be widely available by the time I will spend my BTC.

(To the IRS guy reading this chat: this is highly hypothetical. I had bitcoins, but I lost my private keys on a boating accident).

same for me I was robbed on a India trip and lost my TREZOR to just gangsters.

 Fuckin thugs!

[bitserve]

how? I'm very interested in your answer, really.

And if you do use a mixer or are able to really ofuscate your coins... then comes the problem on future AML/KYC where you could have problems spending your coins.

if you have countries like Portugal or Germany (where you just have to prove you own the address more than a year) i do expect not a large problem even if you have to go with the AML/KYC procedure.

Prove of ownership more than a year in the past for a single adress with a amount of 0.001 BTC on it would be perfect for me in 2027.  

Well, let's say you do your split one BTC into 1000 parts. Ok, unless you do a lot more additional movements it would be easy to see where do those BTC come from. AND if you ever use more than one to do a payment (ie: for any tx higher than 0.001) you will have to combine several and then it will be absolutely clear the common point where these addresses come from.

It's not just proof of ownership, but origin of funds... something that complicates if you do manage to really obfuscate the origin of yours. And in the case of using a mixer, you could end with coins "tainted" in some way or another.

I mean, yeah, go split some of your coins if you want.... but don't go full retard onto it

[jojo69]

(To the IRS guy reading this chat:

 Fuckin thugs!

.

[JimboToronto]

Still too many $10K+ bulltards though

 

[jojo69]

[bitserve]

Still too many $10K+ bulltards though

 

11651-11700      bitserve

[Gyrsur]

how? I'm very interested in your answer, really.

And if you do use a mixer or are able to really ofuscate your coins... then comes the problem on future AML/KYC where you could have problems spending your coins.

if you have countries like Portugal or Germany (where you just have to prove you own the address more than a year) i do expect not a large problem even if you have to go with the AML/KYC procedure.

Prove of ownership more than a year in the past for a single adress with a amount of 0.001 BTC on it would be perfect for me in 2027.  

Well, let's say you do your split one BTC into 1000 parts. Ok, unless you do a lot more additional movements it would be easy to see where do those BTC come from. AND if you ever use more than one to do a payment (ie: for any tx higher than 0.001) you will have to combine several and then it will be absolutely clear the common point where these addresses come from.

It's not just proof of ownership, but origin of funds... something that complicates if you do manage to really obfuscate the origin of yours. And in the case of using a mixer, you could end with coins "tainted" in some way or another.

I mean, yeah, go split some of your coins if you want.... but don't go full retard on it

i don't doubt that if you have addresses with which you will get in focus of authorities because you have an monthly income of <10k and you want to cash out an address with >500k on it. but if you are flying under the radar with small addresses you don't have to prove the origin of funds. and even if. I bought mining equipment in 2013 for what? to play SatoshiDice and lost all or either not.

[jbreher]

Fees are low right now, but if Bitcoin grows fees with be high again. Maybe not that high as in Q4 2017, but still.

Maybe higher. Maybe much much higher.