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

[gallianooo]

BTC on the road to 60K+ ?

No back again to 57K's #KeepBoring

[1714946389]

1714946389

[1714946389]

1714946389

[cAPSLOCK]

and it's highly unlikely we'll see sub-$50k ever again.

Dear Lord... would you be careful just waving that thing around like that!

[bitebits]

https://twitter.com/matt_odell/status/1379412756252790789

[ivomm]

For us this 59-57-59 daily action is quite boring, but for the daily traders who follow the trend it is like living in a scary movie (which they put themselves into because of their stupidity). I guess they screem like little girls when selling with a "stop" loss each day, until their "stop" loss adds up to a complete loss of their resourses. I am lazy to write the code counting all their losses, but it seems that the turning point when these weak hands will be removed from the game is quite near.

Edit. I've just noticed that the volume of the latest stop loss is 4-5x bigger than the previous dips in the last days. So there is a good chance that this will be the last dip before breaking 60K and heading towards 100K in the next weeks.

[shahzadafzal]

For us these 59-57-59 daily action is quite boring, but for the daily traders who follow the trend it is like living in a scary movie (which they put themselves into because of their stupidity). I guess they screem like little girls when selling with a "stop" loss each day, until their "stop" loss adds up to a complete loss of their resourses. I am lazy to write the code counting all their losses, but it seems that the turning point when these weak hands will be removed from the game is quite near.

[cAPSLOCK]

A guess: Alts continue to rise BeCaUsE tHeY aRe So GoOd

Alts are crap but Bitcoin continues to have a capacity issue.

This will be one of the keys moving forward... it is an interesting detail.  2nd layers are still nascent, and most of them are trusted.  But I think trusted 2nd layer use will be encouraged.

I also am developing the theory that the 6102 of our generation will come about through these trusted 2nd layers.  You leave your coins on CashApp, PayPal, Blockfi, or the exchanges, there MAY come a day when you CANNOT take possession of them with keys you control.

I am not anti-trusted layers... but I will not be parking any significant value on any of them, that's for sure.

[shahzadafzal]

Ready to hear a joke?


https://www.cnbc.com/2021/04/05/kevin-oleary-says-he-wont-buy-bitcoin-mined-in-china.html

[shahzadafzal]

I am not anti-trusted layers... but I will not be parking any significant value on any of them, that's for sure.

Yes that’s always true “Not your keys, Not your coins”

One question how much can we trust these third party wallets then? Specially these wallets on our mobile apps. Although they give us access to the private keys but still can we trust them? I have been using Jaxx. But often I will open my wallet to confirm my coins are still there or some developer of Jaxx have already transferred my funds to some cold wallet :p

[Kylapoiss]

Which will be first?

Sub 57k or 60k+?

I bet on the latter.

[Kylapoiss]

I am not anti-trusted layers... but I will not be parking any significant value on any of them, that's for sure.

Yes that’s always true “Not your keys, Not your coins”

One question how much can we trust these third party wallets then? Specially these wallets on our mobile apps. Although they give us access to the private keys but still can we trust them? I have been using Jaxx. But often I will open my wallet to confirm my coins are still there or some developer of Jaxx have already transferred my funds to some cold wallet :p

My coins are in cold storage only, just a small amount to fck around with shitcoins is on exchanges.

Delta gives me enough overview of everything, no need to access my coins via phone.

[vapourminer]

please, when moon sir?

[Karartma1]

please, when moon sir?

not now sir, I'm buying the dip here.

[Dabs]

Yes that’s always true “Not your keys, Not your coins”

One question how much can we trust these third party wallets then? Specially these wallets on our mobile apps. Although they give us access to the private keys but still can we trust them? I have been using Jaxx. But often I will open my wallet to confirm my coins are still there or some developer of Jaxx have already transferred my funds to some cold wallet :p

Why use Jaxx when Bitcoin for Android and Electrum works? What do these other wallets have? I understand some like Casa and Unchained are multi-signature services but you can also do those on your own.

Does Jaxx publish their source code for the app? Can you compile it yourself and check?

[Hueristic]

And Bhutan is vaccinating it's whole population in one go. https://www.zmescience.com/science/bhutan-vaccination-campaign-05042021/

They sound like a bunch of retards to me.

That meant that Bhutan authorities waited until the passing of an ‘inauspicious’ month to start vaccination.

    “Upon consulting with Zhung Dratshang (the Commission for Monastic Affairs), we were informed of dana (inauspicious month) which falls between February 14 and March 13. We will wait until the period is over,” the statement said.

Buddhist astrologers advised the government that a woman born in the year of the monkey should be chosen as the first person to receive the vaccine

What are they a welfare state for India?

As a gift from India, Bhutan received in January 150,000 doses of Covishield vaccines manufactured by the Serum Institute in India – followed by a second shipment of 400,000 vaccines in March. India has also supplied Bhutan with medicines and medical supplies, including paracetamol, PPEs, N95 masks, test kits, and x-ray machines.

[BitcoinBunny]

Ready to hear a joke?


https://www.cnbc.com/2021/04/05/kevin-oleary-says-he-wont-buy-bitcoin-mined-in-china.html

Dear Mr O'Leary, I have Bitcoin available for you that has been mined by caucasians only, I guarantee it. Not a single Chinaman has been involved. The energy used for mining has come from caucasian resources only involving a combination of sweet farts and lots of ethical bike peddling.
For you sir the friendly price of this caucasian mined Bitcoin is currently only $120,000.00 per coin.

Please contact me asap.

[cAPSLOCK]

I am not anti-trusted layers... but I will not be parking any significant value on any of them, that's for sure.

Yes that’s always true “Not your keys, Not your coins”

One question how much can we trust these third party wallets then? Specially these wallets on our mobile apps. Although they give us access to the private keys but still can we trust them? I have been using Jaxx. But often I will open my wallet to confirm my coins are still there or some developer of Jaxx have already transferred my funds to some cold wallet :p

100% = amount you HAVE to trust a third party wallet that holds your keys.
100% = amount you have to trust closed source wallet software even if you can access your keys
100% = amount you have to trust open source software for which you have not (or cannot) personally reviewed the code
100% = amount you have to trust open source software for which you have reviewed the code but not compiled the binaries
100% = amount you have to trust the above when you HAVE compiled the reviewed code, but don't really know what you are doing, but think you do.

That last one is a bitch.

It seems extreme, but in the end you can only trust a cold wallet for which you generated the keys in a *safe manner*, which is too long a process to detail here.  Then you can send your money to a hot wallet using procedures that are again too long to detail here, for spending.

This is most CERTAINLY one of Bitcoins biggest pain points.  Maybe tied with privacy.

A decent compromise:  Use a well reviewed and vetted hardware wallet to do the above.

A somber prediction:  "Bitcoin banks" and all the trust and regulatory risks that come with them are an INEVITIBILITY in the foreseeable future for almost all normal users.

[cAPSLOCK]

I am not anti-trusted layers... but I will not be parking any significant value on any of them, that's for sure.

Yes that’s always true “Not your keys, Not your coins”

One question how much can we trust these third party wallets then? Specially these wallets on our mobile apps. Although they give us access to the private keys but still can we trust them? I have been using Jaxx. But often I will open my wallet to confirm my coins are still there or some developer of Jaxx have already transferred my funds to some cold wallet :p

My coins are in cold storage only, just a small amount to fck around with shitcoins is on exchanges.

Delta gives me enough overview of everything, no need to access my coins via phone.

If we made a list of the X most important posts on this behemouth thread, I would vote this to rank highly... or one like it.  It cant be overstated, and I guarantee there are people here reading this that don't get why.  (Probably not most of the regulars... but maybe even some of us!)

[Dabs]

A decent compromise:  Use a well reviewed and vetted hardware wallet to do the above.

I'd add to that any software / hardware that is supported with wallets such as Electrum or Bitcoin Core / Bitcoin for Android. My hardware wallet equivalent is an airgapped machine, but then I think I know what I'm doing. (I could be mistaken and not actually know everything that's going on, but that would seem unlikely.)

[Biodom]

Ready to hear a joke?


https://www.cnbc.com/2021/04/05/kevin-oleary-says-he-wont-buy-bitcoin-mined-in-china.html

Oh, gawd, this dude has no clue, apparently.
This kind of attitude needs to be fought tooth and nail or bitcoin fungibility would be in question.

I've got some Caucasian-mined btc for a low low premium of 50%. I will be entertaining the offers shortly....

[shahzadafzal]

100% = amount you HAVE to trust a third party wallet that holds your keys.
100% = amount you have to trust closed source wallet software even if you can access your keys
100% = amount you have to trust open source software for which you have not (or cannot) personally reviewed the code
100% = amount you have to trust open source software for which you have reviewed the code but not compiled the binaries
100% = amount you have to trust the above when you HAVE compiled the reviewed code, but don't really know what you are doing, but think you do.

That last one is a bitch.

It seems extreme, but in the end you can only trust a cold wallet for which you generated the keys in a *safe manner*, which is too long a process to detail here.  Then you can send your money to a hot wallet using procedures that are again too long to detail here, for spending.

This is most CERTAINLY one of Bitcoins biggest pain points.  Maybe tied with privacy.

A decent compromise:  Use a well reviewed and vetted hardware wallet to do the above.

A somber prediction:  "Bitcoin banks" and all the trust and regulatory risks that come with them are an INEVITIBILITY in the foreseeable future for almost all normal users.

Thank you so much for such a detailed reply, in short there’s no guarantee.. that your BTC are safe in such wallets.

So based on that can I say Bitcoin is not for lazy people?

Well I’m somewhat technical guy but I have never compiled a source code of any wallet because still there’s no guarantee that the published source code and the binaries running on your mobile phone are same. Unless you can run/install your compiles binaries on your device itself.

This is true specially in case of iOS, its almost impossible to do so without high level expertise.

In short I would conclude never trust third party wallet.

Solution (for a lazy person like me of course)
- Distribute your coins in multiple storages/wallets
- Most of your bitcoins should always be in cold wallet
- Keep a small amount which you want to use or cash out in mobile wallets