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Question: What happens first:
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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26353284 times)
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AlcoHoDL
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August 15, 2020, 04:40:08 PM

My advice to anyone reading this: DON'T share PINs, passphrases, seeds, anything of that nature, with ANYONE, not even your parents, children, spouse, etc. They may be the most trustworthy people in the world, but they may carelessly compromise the security of your coins.

But...if you want your loved ones to inherit your stash after you are gone, you have to figure out a way to leave it to them. Otherwise your stash access dies with you. And keep in mind that you could die any second (e.g., sudden heart attack, getting hit by a bus, etc.) so you may not have time or opportunity to give them access to it on your death bed.

Yes, that's exactly the problem. Not easy to solve. We must find at least one person in our lives, who can handle this thing. Banks, wills, etc. is how it's currently done. With Bitcoin we're on our own. Even teaching someone to transact in Bitcoin can be a challenge. Just imagine explaining about wallets, seeds, passphrases, keys, addresses, etc. Not (yet) easy for most...
"Your bitcoin is secured in a way that is physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter a majority of miners, no matter what." -- Greg Maxwell
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August 15, 2020, 04:51:18 PM
Merited by Globb0 (2)

BIP39 passphrase, stored in the brain and with a trusted family member. Exactly what I was thinking.
Already feeling inspired by the idea.

Nice!  You know what else I love about this design?  Drill a hole in the top of a wooden door and drop this sucker in... top off with a little putty.  Even paint if you are feeling frisky.  Survives the house fire.  Is EXTREMELY hard to find.

Course if the thief is reading this thread...  *sigh*...

By the way... anyone wants to borrow these... feel free:

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August 15, 2020, 05:33:21 PM
Merited by gentlemand (1), 600watt (1), bitebits (1)

Wow, just wow...prior Prudential CEO recommends buying bitcoin!
"Old money" is coming just as well.

https://www.reuters.com/video/watch/idRCV008LQI



Wtf; this is BIG

on reuters... woah...  he speaks about guys that hated bitcoin in the past and now starting to considering it as „convertits“.  The journalists is baffled to hear „it is bitcoin!“

The next run up some deeeeeeep pockets will get the fomo. No matter how solid and traditional and potent a finance investor is: if they see bitcoin doing its 10% daily gains the WILL start to get the fomo. They are not immune.

When some of those behemoths think „ fuck it we need 1% exposure to this shit“ - we are talking about billions already.  2017 was a historic run up.
Wait and see the next one. We all have no clue and we will get overwhelmed.

In other words, it is nice for quite a few of us regulars to be relatively "in front" of this game, in terms of already having had taken a stake years ago and even some of us building our stake much earlier than the later entrants and some of us thinking that we may not have been able to build enough of a stash of BTC...  Relatively speaking, even if our stash is relatively small, many of us are still in front of these later arrivals.

Yes, I appreciate that if some of us do not have very much wealth, we still may feel bad because we have not been able to build what we might consider to be a LARGE BTC stash... but surely we can only do what we can do, and sometimes still a smaller amount of capital in BTC is much better than none and we might not even be able to leverage either (because leveraging is not necessarily a smart thing to do either.... people make differing choices in terms of whether to leverage and how to play it too, depending on their options).... Hopefully, leveraging does not end up blowing up on you, if you take too many chances, which is what seems to be part of the explanation of what happened to mindrust (his situation largely exploding in mid-March).

Another hint (lesson) that we might want to learn from this lil message from the traditional investors coming into the bitcoin space is that many of us may well need to be careful in terms of NOT selling too much of our BTC stash too soon.. because it might be difficult to either know how far BTC price pumps might go and even that some of the BTC price corrections along the way, may well end up being fake outs for the BIGGER players to try to get on by driving the BTC price down for short periods while they shake some relatively weaker hands and they attempt to jump on board.

I am NOT suggesting that HODLers should not sell any of their BTC, but just be careful in regards to selling too much too soon because there are likely going to be several corrections along the way UPpity and some of those corrections along the way might feel (or seem) as if they are taking place at the culmination of a blow off top, when in fact they are merely fake outs for some of the later entrance (possibly BIG PLAYERS) to enter later, but to be able to cause downward liquidity to obtain their coins at lower prices than if they were to just market buy chase the BTC price on its way UPpity.
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August 15, 2020, 05:45:47 PM
Merited by infofront (1)

I cant help but come back to these longer time frames

I know we hear the same story a lot...'the next [fill in blank/random amount of time] are critical' but I really think the next couple of months are just that..critical. 2020 appears to be that defining moment for bitcoin.

Confidence is high.





M

#stronghands
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August 15, 2020, 05:54:43 PM

insert after labor day the capital will come flooding in meme
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August 15, 2020, 06:10:08 PM
Merited by El duderino_ (2), AlcoHoDL (1)

[...]

In other meaningful news. Grin

https://twitter.com/barrysilbert/status/1293882537492840449
Pump it up Novo! Wink

Fixing the FT ad title:

"Now is always the time to invest in bitcoin."

I hate to be quibbling.. but seems that my systems have been rebooted... and I cannot help my lil selfie.

In substance, I'm not disagreeing with you AlcoHoDL, but I thought that "we" have kind of modified our thinkenings on such BTC accumulation topic based on some degree of recognition that we cannot travel back in time (at least not in practice, so far).  

Accordingly, our overall statement would go something like this:

The best time to buy BTC would have been several years ago;

The second best time would have been a shorter time horizon into the history, such as yesterday, last week or last month;

The third best time to buy BTC is that you better fucking get your shit in order and start making your BTC buying preparations immediately.. and without delay...  and get your ass buying lil fiends, now... and keep buy often until reaching your BTC accumulation goal.. which hopefully is a sufficiently aggressive accumulation goal... 1% is o.k. and 10% is likely MOAR better..

PS to the advert (to cover our asses):  #DYOR  .. #YMMV.... #BTMFD.



Many of us recognize that in recent times, we had been through another (comparing to the 2014/15/16 period) LONG ASS period of more than 2.5 years in which BTC accumulation could have been been accomplished in much more moderate, modest and slow paced ways, but we are likely entering into a phase in BTClandia (nothing is guaranteed in BTClandia) in which moderate, modest and slow-paced may be becoming a less prudent way of going about BTC accumulation (and acquiring a meaningful BTC stake).. and front-loading might end up being more prudent and practical than moderation, modesty and/or slow-pacedness.. (again, nothing is guaranteed in BTClandia)...

I sense my 12k toes tingling

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August 15, 2020, 06:18:55 PM

Still, don't let the corporate turds like MicroStrategy get all the bitcoin.
Stack sats for yourself.
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August 15, 2020, 06:19:28 PM
Merited by El duderino_ (4), JayJuanGee (1), 600watt (1), BobLawblaw (1), Toxic2040 (1)

https://twitter.com/coincornerdanny/status/1294600651884900352

Quote
Bitcoin price on Aug 15th

2010 - $𝟬.𝟬𝟳
2011 - $𝟭𝟭
2012 - $𝟭𝟮
2013 - $𝟵𝟴
2014 - $𝟱𝟮𝟬
2015 - $𝟮𝟲𝟲
2016 - $𝟱𝟲𝟳
2017 - $𝟰,𝟭𝟰𝟵
2018 - $𝟲,𝟮𝟭𝟮
2019 - $𝟵,𝟵𝟳𝟯
2020 - $𝟭𝟭,𝟴𝟵𝟰
JayJuanGee
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August 15, 2020, 06:34:33 PM

Just checking when we will reach 27118, we are not far away

To reach till 11800$ back from high of 20k it took couple of years. So not sure how long to break that 20k and to move towards 27118$ it will take it.

But for sure, if you want the quickest in not time to see that range then just dream about it  Grin

I am thinking that once the BTC price breaks above the $17,250 area then the upper numbers, such as $27,118 should come fairly soon thereafter, like within a month or three... but sure, nothing is exactly clear in bitcoinlandia in terms of either how far the BTC price will go or how much time it will take to get there.
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August 15, 2020, 06:56:22 PM

Or, you could just write it on a piece of paper and give it to someone you trust.

...and then the person you trust misplaces that piece of paper, and it ends up in the hands of someone you DON'T trust. Your coins are gone!

My advice to anyone reading this: DON'T share PINs, passphrases, seeds, anything of that nature, with ANYONE, not even your parents, children, spouse, etc. They may be the most trustworthy people in the world, but they may carelessly compromise the security of your coins.

Perhaps, you could share the seed with only one or two very special persons in your life, who fulfill all of the requirements below:

1. You fully trust them (obviously),
2. They understand what Bitcoin and the seed are, and are crypto-literate,
3. They take security matters VERY seriously,
4. Loved/family persons (parents, spouses, children) should be excluded if they don't satisfy 1~3, no matter how much you love them!

If persons belonging to (4) get mad at you for not sharing the seed with them, and complain that you don't love/trust them, etc., it means that they don't understand the implications of (2) and (3), and should never be given access to the seed.

IE. Give it to someone you trust.

Maybe do this to Arriemoller will help?



Or maybe a more direct hit, to get his attention, might be MOAR better?




 Cheesy Cheesy Cheesy Cheesy


If you write it on a piece (or several) of paper, laminate it, put it in a box, bury it in the garden or wherever, or otherwise keep them safe. Or if you stamp it on washers and do the same thing doesn't make much difference in my view.
Having said that, I think it's a cool idea, and I'm going to the hardware store on Monday, just for the fun of it.

Hopefully, when you arrive at the hardware store, you will remember why you went there.  I am not sure if I am setting my expectations too high?   Huh

 Cheesy Cheesy Cheesy Cheesy
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August 15, 2020, 06:58:26 PM

https://www.reuters.com/video/watch/idRCV008LQI

Time to buy Bitcoin: ex-Prudential CEO George Ball
Posted August 14, 2020

George Ball, now CEO of Sanders Morris Harris, says Bitcoin or other cryptocurrencies could soon become sought after as a safe-haven asset. He tells Fred Katayama why he thinks many wealthy investors or traders will consider buying them after Labor Day.
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August 15, 2020, 07:06:36 PM

the noon wall report

Carry on.

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August 15, 2020, 07:12:40 PM

My advice to anyone reading this: DON'T share PINs, passphrases, seeds, anything of that nature, with ANYONE, not even your parents, children, spouse, etc. They may be the most trustworthy people in the world, but they may carelessly compromise the security of your coins.

But...if you want your loved ones to inherit your stash after you are gone, you have to figure out a way to leave it to them. Otherwise your stash access dies with you. And keep in mind that you could die any second (e.g., sudden heart attack, getting hit by a bus, etc.) so you may not have time or opportunity to give them access to it on your death bed.

Yes, that's exactly the problem. Not easy to solve. We must find at least one person in our lives, who can handle this thing. Banks, wills, etc. is how it's currently done. With Bitcoin we're on our own. Even teaching someone to transact in Bitcoin can be a challenge. Just imagine explaining about wallets, seeds, passphrases, keys, addresses, etc. Not (yet) easy for most...

What about the letter to the lawyer or whoever that is in your safe or whereever that explains everything upon your passing?
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August 15, 2020, 07:18:38 PM

Life was giving me a hint at the grocery store



went over my head..oh well
as the proverbial saying (from a hairdresser) goes "you can't do them all".
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August 15, 2020, 07:40:38 PM
Merited by Hueristic (1)

My advice to anyone reading this: DON'T share PINs, passphrases, seeds, anything of that nature, with ANYONE, not even your parents, children, spouse, etc. They may be the most trustworthy people in the world, but they may carelessly compromise the security of your coins.

But...if you want your loved ones to inherit your stash after you are gone, you have to figure out a way to leave it to them. Otherwise your stash access dies with you. And keep in mind that you could die any second (e.g., sudden heart attack, getting hit by a bus, etc.) so you may not have time or opportunity to give them access to it on your death bed.

Yes, that's exactly the problem. Not easy to solve. We must find at least one person in our lives, who can handle this thing. Banks, wills, etc. is how it's currently done. With Bitcoin we're on our own. Even teaching someone to transact in Bitcoin can be a challenge. Just imagine explaining about wallets, seeds, passphrases, keys, addresses, etc. Not (yet) easy for most...

What about the letter to the lawyer or whoever that is in your safe or whereever that explains everything upon your passing?

 Wait a second, I can't trust my brother, mother, children or spouse but I can trust a lawyer to give them (my family) the letter detailing how to obtain my Bitcoin after I die?  Not happening.  I'd rather die with my coin and enrich all my WO hodlers than trust a lawyer over my loving family.

edit: added some brackets for clarity.


xhomerx10
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August 15, 2020, 07:46:31 PM

Life was giving me a hint at the grocery store



went over my head..oh well
as the proverbial saying (from a hairdresser) goes "you can't do them all".

 Is that the WO thread when BTC hits 200k?
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August 15, 2020, 07:49:11 PM
Merited by JayJuanGee (1)

[...]

In other meaningful news. Grin

https://twitter.com/barrysilbert/status/1293882537492840449
Pump it up Novo! Wink

Fixing the FT ad title:

"Now is always the time to invest in bitcoin."

I hate to be quibbling.. but seems that my systems have been rebooted... and I cannot help my lil selfie.

In substance, I'm not disagreeing with you AlcoHoDL, but I thought that "we" have kind of modified our thinkenings on such BTC accumulation topic based on some degree of recognition that we cannot travel back in time (at least not in practice, so far).  

Accordingly, our overall statement would go something like this:

The best time to buy BTC would have been several years ago;

The second best time would have been a shorter time horizon into the history, such as yesterday, last week or last month;

The third best time to buy BTC is that you better fucking get your shit in order and start making your BTC buying preparations immediately.. and without delay...  and get your ass buying lil fiends, now... and keep buy often until reaching your BTC accumulation goal.. which hopefully is a sufficiently aggressive accumulation goal... 1% is o.k. and 10% is likely MOAR better..

PS to the advert (to cover our asses):  #DYOR  .. #YMMV.... #BTMFD.

Many of us recognize that in recent times, we had been through another (comparing to the 2014/15/16 period) LONG ASS period of more than 2.5 years in which BTC accumulation could have been been accomplished in much more moderate, modest and slow paced ways, but we are likely entering into a phase in BTClandia (nothing is guaranteed in BTClandia) in which moderate, modest and slow-paced may be becoming a less prudent way of going about BTC accumulation (and acquiring a meaningful BTC stake).. and front-loading might end up being more prudent and practical than moderation, modesty and/or slow-pacedness.. (again, nothing is guaranteed in BTClandia)...

I sense my 12k toes tingling



Essentially we're saying the same thing. I just removed the impossible (the past). Of course, if I could travel back in time, buying BTC would be the very first thing I'd do. I still haven't forgiven myself for not buying moar in 2015, ending up spending the same amount of fiat I had then, to buy much less corn later. Hesitation is costly in bitcoinlandia, the early bird gets the worm, the later bird is still OK, but it has to wait. But it's still OK.

History has shown that buying BTC whenever you can, has been (most of the time) a very profitable move. Add a few years in the future, and (perhaps) you could replace "most"  with "all" in the previous sentence. Can you imaging someone buying right at the ATH point? I have a friend who did so in 2017. He must be so sad now... Should he be? Maybe not. I could place a bet that his face will turn from Sad to Cheesy in a couple of years. So, subtracting the impossible, the best time to buy is now, or in the near future if you think you can outsmart it (hahaha).


My advice to anyone reading this: DON'T share PINs, passphrases, seeds, anything of that nature, with ANYONE, not even your parents, children, spouse, etc. They may be the most trustworthy people in the world, but they may carelessly compromise the security of your coins.

But...if you want your loved ones to inherit your stash after you are gone, you have to figure out a way to leave it to them. Otherwise your stash access dies with you. And keep in mind that you could die any second (e.g., sudden heart attack, getting hit by a bus, etc.) so you may not have time or opportunity to give them access to it on your death bed.

Yes, that's exactly the problem. Not easy to solve. We must find at least one person in our lives, who can handle this thing. Banks, wills, etc. is how it's currently done. With Bitcoin we're on our own. Even teaching someone to transact in Bitcoin can be a challenge. Just imagine explaining about wallets, seeds, passphrases, keys, addresses, etc. Not (yet) easy for most...

What about the letter to the lawyer or whoever that is in your safe or whereever that explains everything upon your passing?

xhomerx10 just replied with a near-exact copy of what I was about to write.
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August 15, 2020, 07:49:37 PM

Life was giving me a hint at the grocery store



went over my head..oh well
as the proverbial saying (from a hairdresser) goes "you can't do them all".

 Is that the WO thread when BTC hits 200k?


I guess, it is, at least it was advertised  Grin
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August 15, 2020, 07:50:24 PM
Merited by xhomerx10 (1)

Life was giving me a hint at the grocery store



went over my head..oh well
as the proverbial saying (from a hairdresser) goes "you can't do them all".

Is that the WO thread when BTC hits 200k?

Yes (not to scale).
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August 15, 2020, 08:14:08 PM


 Lips sealed
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