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

[cAPSLOCK]

I would prefer to do it myself, and the final key I simply put it encrypted in the cloud OR buried and hidden.

People will bark at you with the "encrypted in the cloud" idea.  Although I think people who REALLY understand what they are doing can do this.  And one other issue with that is, how do you store the password?  It's really the same problem.  If it is an easy enough password to remember?  Then might not be as secure as you would hope.

[Biodom]

The upcoming geriatric leadership of the US banking thinks that 'cryptocurrencies are used mainly for illicit transactions' when the actual number from chainalysis is 0.34% and that number actually declined from 2% few years before. I am sure that more 0.34% of car movements and coffee drank was done by criminals as well.
This stupidity never stops.

[Biodom]

Excellent. This would become ever so important moving forward, although all solutions have limitations so far.
How to explain the multisig to the loved ones and expect them to remember this, hopefully, later to much later?

Multisig is mostly a technical solution, but we also need some "humanized" approaches as well.
I wrote before about some futuristic stuff mixed with social. Maybe also 3 out of 5 or even more complex.
futuristic-dna sequence, iris scan, fingerprint, picture, etc., all hashed PLUS social attestation-birthday, nickname in school, mothers maiden name, maybe a pin-also ALL taken together and mixed with the futuristic stuff.

There are a couple of multi-sig wallet provider services, such as Casa and Unchained Capital (there are a few more, but I forget who they are). I would dispose of the biometric stuff. You want your corns sovereign, meaning it can be recovered with easy to understand instructions.

In Casa's case, they work like this:

3 of 5

1 key on the client’s mobile phone
1 hardware key kept at home
1 hardware key at a separate location, such as an office
1 hardware key kept in a third location, such as a safety deposit box
1 emergency backup key kept by Casa

2 of 3

1 key on the client’s mobile phone
1 hardware key kept by the client
1 emergency backup key kept by Casa

I think they have some low cost service and a free trial, but I would prefer to do it myself, and the final key I simply put it encrypted in the cloud OR buried and hidden.

Unchained has a free setup but charges $20 for individuals if requested to sign. That's kinda like multi-sig insurance.

The important thing for any multi-sig setup is to have multiple copies of ALL public keys, or extended public keys, not just 1 or 2. While you only need 2 or 3 signatures to move corns, you need all public keys too.

Links:
https://docs.keys.casa/wealth-security-protocol/
https://unchained-capital.com/vaults/

for you and me-sure, but for 95% of the population (i am being generous, most likely 99%) this is an insurmountable task, especially if they are getting this 10-20 years from now.

[d_eddie]

I would prefer to do it myself, and the final key I simply put it encrypted in the cloud OR buried and hidden.

People will bark at you with the "encrypted in the cloud" idea.  Although I think people who REALLY understand what they are doing can do this.  And one other issue with that is, how do you store the password?  It's really the same problem.  If it is an easy enough password to remember?  Then might not be as secure as you would hope.

With enough data in the cloud, average grade encryption, even with a low security password, is IMO a good option when you combine it with some steganography. Let them steal all your data from the cloud and sift all mp3, jpgs, videos etc. in search for the encrypted bit they need!

[Dabs]

I would prefer to do it myself, and the final key I simply put it encrypted in the cloud OR buried and hidden.

People will bark at you with the "encrypted in the cloud" idea.  Although I think people who REALLY understand what they are doing can do this.  And one other issue with that is, how do you store the password?  It's really the same problem.  If it is an easy enough password to remember?  Then might not be as secure as you would hope.

I knew I'd get a reaction.

The way Casa does it, you back it up to your own cloud, but they keep the decryption key. That way, you don't have access to it without calling them, but they never have access to it.

Wikileaks has insurance files right? They're in some torrent being seeded by a few hundred / thousand computers worldwide, but no one has the password.

Your own cloud, or even emailed to yourself, is less publicly available than those insurance files. Sure, google has it, amazon has it, your hosting provider has it, but they won't just let anyone else have it.

[Paashaas]

Phenomenal chart.

Strong part of the Bitcoin upmove has not started yet.

Chart suggests we are in Q117 equivalent time period.

Volatility measurement spikes at end of moves... now still near the lows.

Hard to think btc could 5-8x from here in 2021.

Best to just HODL

https://twitter.com/DTAPCAP/status/1351775441888149504

[Dabs]

With enough data in the cloud, average grade encryption, even with a low security password, is IMO a good option when you combine it with some steganography. Let them steal all your data from the cloud and sift all mp3, jpgs, videos etc. in search for the encrypted bit they need!

Even without stegano, I'll give a concrete example:

Cloud = dropbox = free. If you want you can use a low cost VPS, something like $1-$2 per month. Emailed to yourself. OneDrive. Google Drive. Any of the paid online backup services, Mozy, Carbonite, or just raw AWS storage.

File = compressed and encrypted with RAR. This uses 256 bit AES generated pseudorandomly and takes the longest to crack with brute force, because it uses a couple hundred thousand iterations of SHA in its KDF. RAR is partially open source, but the archiver has been around for two and a half decades, and the latest version has been downloaded a few million times.

Password = 8 to 24 character alpha numeric. I've been able to generate some using dice (for fun) and memorize them in 3 chunks of 8. One could use something like WarpWallet to feed this password and use the resulting private key as the actual password for the RAR file.

So a "passphrase" of "abcdefgh" will take a few seconds to derive "5JPkUh35jo1x39wGoC3XLmmHgAtpYdzcHSwWCknoiYdPE97WcrM"


Average Grade these days means 128 or 256 bit AES.

You can upload the encrypted file anywhere using a "short" password of 8 characters (which should be easy to memorize even if its truly randomly generated) and it will be relatively secure for at least 100 to 200 years. I'd keep a copy of all the needed HTML and winrar.exe in the same cloud, plus instructions in plain text.

Someone would have to specifically target you, and then you're screwed no matter what you do as if you have any family they will simply threaten violence on them. Sure you can survive extreme torture, but would your spouse or partner? Would your children?

Link:
https://keybase.io/warp/

[cAPSLOCK]

That thing is gorgeous.

Nice little bottomy scoop painting a nice hammer on the 30m chart.  Good volume on the come up too.

[True Myth]

Wonderful Wednesday WO world.

Touched the bottom part of the channel today before buying frenzy pushed it back up.  The bottom part of the channel also aligns with the daily EMA 26.

[BobLawblaw]

New POTUS installed. The USA didn't collapse. Onward to $50k ASAP pls.

This is not a political post.

Fight me.

[friends1980]

New POTUS installed. The USA didn't collapse. Onward to $50k ASAP pls.

This is not a political post.

Fight me.

New POTUS liked by establishment. Dollar goes up. Bitcoin goes down. (a bit)

These guys are not like us. They're in it for the dollars and couldn't care less about BTC.

[Torque]

Gee, I really do wonder if the Fed money printer go brrr has any correlation to the stock market.

Oh, wait...



Also notice where the Fed 'temporarily' stopped buying (er, printing)....2018-2019. Did someone at the Fed know something was coming?  

[LucyFurr]

oh c'mon .... several huge long liquidations ... and no fiat to buy the dip ... damn...

Don't worry each and every government is printing their paper money continuously.

[Hueristic]

Seems the Yellen announcement has some people spooked.

What I don't understand is why Yellen and others are seeing "cryptocurrency" as a "growing concern for terrorist financial movements".

The event that sparked this was a group of right extremists that received "donations" in the form of BTC a month prior to the DC shenanigans a couple weeks ago.

Let's think about this... we are able to see the transaction, when it happened, identify who received it down to individual names, and determine the amounts.  All of this solely because it was in the form of BTC and can be seen on the block chain.

If this transaction happened via cash, no one would know any of these details. It never would of been brought to light.  

To me, this is like complaining about the check engine light coming on in the car instead of fixing the damn car.  If it wasn't for that light you wouldn't know there was a problem in the first place.

When will these people start using the tools instead of blaming them?

They freak out because..well immutability.
They don't have control to seize shit and that makes them piss their pants.

[Karartma1]

Fillippone (MI5)

#meritislife: how to be notified on a smartband of merits and mentions

Free advertising for me.

[BitcoinGirl.Club]

Good evening WO!
Observing @ $35,000

[OutOfMemory]

Good evening WO!
Observing @ $35,000

Bought a shovel full of dust at $34.801
Go, go, goooo

Joe, get it on with the Bitcoiners and slap Yellen on her forehead with a bundle of worthless dollar notes 

New POTUS installed. The USA didn't collapse. Onward to $50k ASAP pls.

This is not a political post.

Fight me.

I understand.
*hugs Bawb* #nohomo #justfriends

[AlcoHoDL]

I would prefer to do it myself, and the final key I simply put it encrypted in the cloud OR buried and hidden.

People will bark at you with the "encrypted in the cloud" idea.  Although I think people who REALLY understand what they are doing can do this.  And one other issue with that is, how do you store the password?  It's really the same problem.  If it is an easy enough password to remember?  Then might not be as secure as you would hope.

With enough data in the cloud, average grade encryption, even with a low security password, is IMO a good option when you combine it with some steganography. Let them steal all your data from the cloud and sift all mp3, jpgs, videos etc. in search for the encrypted bit they need!

I used to be paranoid about security, to the point of devising intricate methods of encrypting my recovery seed by designing my own complex algorithms that used information from various sources (files, words from books, etc.) that only I knew how to combine, in order to decrypt the data and get to my recovery seed. It worked for a while, until one time I tried to verify my encrypted backup, only to discover that I had nearly forgotten the decryption procedure. Fortunately, I was finally able to remember it. Even if I could not, I still had my Trezor, so I could just transfer my coins to a new wallet with a fresh, known recovery seed. But I finally remembered the decryption steps, and was able to get to the plain-text version of my recovery seed, thus avoiding transferring my coins to a new wallet.

This has taught me to apply the KISS principle. Use strong encryption, but keep it simple enough to always remember the decryption procedure. Use standardized methods (BIP39, etc.). Don't overdo it, to the point of later forgetting how it's done, because you may lock yourself out of your coins, and that's 100 times worse than a mindrust event.

[Biodom]

GBTC had just 4% premium at the 33400-33740 bottom earlier today.
Almost at par-good to buy, bad to sell in ret accounts.

[infofront]

BlackRock Give 2 Funds Go-Ahead to Invest in Bitcoin Futures

Boom!