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

[BitcoinBunny]

Sister in law died from lung cancer presumably due to smoking.

I'd urge anyone to stop smoking. Don't even vape. Don't even use shisha as nice as it is.

Furthermore it looks like Covid isn't going away any time soon.

Personally I think not smoking and somewhat controlling weight will help me more than a vaccine at my age.

[vapourminer]

are we poor again? i cant remember the cutoff points anymore

[somac.]

are we poor again? i cant remember the cutoff points anymore

Maybe not poor but I'm surprised that we are slowly drifting down. After breaking through heavy resistance like we did I thought we would of pushed higher to a 15-20% move. Can still happen of course, but I wonder if the shitcoins are stripping too many BTC buyers away right now. Good for the institutions though, on chain is still showing that the larger players are hoovering the coins up.

[Karartma1]

are we poor again? i cant remember the cutoff points anymore

Since we embraced bitcoin we became rich by definition

[OutOfMemory]

Sister in law died from lung cancer presumably due to smoking.

I'd urge anyone to stop smoking. Don't even vape. Don't even use shisha as nice as it is.

Furthermore it looks like Covid isn't going away any time soon.

Personally I think not smoking and somewhat controlling weight will help me more than a vaccine at my age.

I keep vaping, but only pure 'erbs. Preferably biologically grown. No extracts, oils or anything like that.
Fine ground marijuana at 195°-200°. Mostly harmless 

[Dabs]

Lessons from my past shitcoin purchases:

Converting from Bitcoin to ETH:
If I had kept my ETH in BTC the value of my coins would be higher.

Converting ETH to DeFi shitcoins:
If I had kept my DeFi shitcoins in ETH the value of my coins would be higher.

So:

BTC > ETH > DeFi shitcoins

“It requires wisdom to understand wisdom; the music is nothing if the audience is deaf.”
- Walter Lippmann

BTC > ETH > DeFi shitcoins

It kinda depends on when you went in. Had you joined the ETH ICO, they were giving 2000 ETH for every 1 BTC you put in. If you had held all this time since then that 1 BTC which turned into 2000 ETH is worth about $5m today.

As for all the other ICOs and DeFi tokens, maybe that's riskier, but for a lot of them back in 2017-ish, you could join the ICO and get out within a week after the ICO and you'd have at least doubled or tripled, but again, it's risky. Today, apparently some die within hours or days of launching. Some have some sort of staying power but the price still goes down.

[Dabs]

Sister in law died from lung cancer presumably due to smoking.

I'd urge anyone to stop smoking. Don't even vape. Don't even use shisha as nice as it is.

Furthermore it looks like Covid isn't going away any time soon.

Personally I think not smoking and somewhat controlling weight will help me more than a vaccine at my age.

I keep vaping, but only pure 'erbs. Preferably biologically grown. No extracts, oils or anything like that.
Fine ground marijuana at 195°-200°. Mostly harmless 

I quit smoking cold turkey. Just one day, decided paying for a pack or even a stick is not worth it. Or even bumming from a friend. I would politely decline and say the words "I'm sorry, I quit, please don't offer me any." and they would understand.

I did do a little erbs too, as I understood that was natural, even grew some in the backyard, a couple of plants. Got a bunch of books and magazines on how to do it "properly" .. It ended up dying after a storm, so I had to of course, burn it ...

[AlcoHoDL]

vaping can both make it easier and harder to quit cigs. easier because, unlike a cig, it wont stay lit till its done (cigs add chemicals to keep it burning, contrast that with a cigar with no chemicals.. it goes out when you leave it). so, light a cig and you pretty much are forced to smoke the whole thing as its gonna burn down to the filter anyway. plus it coats everything with that nice orange gunk.. (smokers just look at your computer innards and fans.. eeeew man mine were soooo disgusting).

vaping. press the button, inhale or once or twice, put it back in your pocket nice and neat, done. and those subzero mods can put out clouds of vapour of sizes that you have to see to believe. and no ash, no ashtrays that stink, no orange coating in the rooms etc. of course theres maintenance - cleaning, replacing seals, coils etc. but thats was actually an attraction to me.. kinda calming doing coils maintenance and whatnot.

[...]

I'm against smoking in general, but the way you describe vaping makes me want to try it. I see colleagues and friends with these vaping machines that look so high-tech, like some kind of weapon that came out of an alien ship or something. OLED displays, coil resistances, wattage, energy reserves. 

[shahzadafzal]

Lessons from my past shitcoin purchases:

Converting from Bitcoin to ETH:
If I had kept my ETH in BTC the value of my coins would be higher.

Converting ETH to DeFi shitcoins:
If I had kept my DeFi shitcoins in ETH the value of my coins would be higher.

So:

BTC > ETH > DeFi shitcoins

“It requires wisdom to understand wisdom; the music is nothing if the audience is deaf.”
- Walter Lippmann

BTC > ETH > DeFi shitcoins

It kinda depends on when you went in. Had you joined the ETH ICO, they were giving 2000 ETH for every 1 BTC you put in. If you had held all this time since then that 1 BTC which turned into 2000 ETH is worth about $5m today.

As for all the other ICOs and DeFi tokens, maybe that's riskier, but for a lot of them back in 2017-ish, you could join the ICO and get out within a week after the ICO and you'd have at least doubled or tripled, but again, it's risky. Today, apparently some die within hours or days of launching. Some have some sort of staying power but the price still goes down.

Well exactly the way you said it... “depends on when you went in”, and with this logic I can argue even today in 2021 Bitcoin isn’t the best performing. Right?

That’s why when we say BTC > ETH (or any other shitcoin) we are only talking about the long term. Yes we can earn short term profit and make it a way to acquire more bitcoins but at end Bitcoin is the only store of value.

[AlcoHoDL]

I keep receiving dust amounts of BTC in my cold wallet. They're for 0.00000547 BTC each, and come every other month or so. I remember reading here that they are used by some entities (who are they?) to 'mark' our wallets and track the movement of our coins.

I read that these small amounts can be marked as "do not spend", so they are not moved together with our own coins. I believe Electrum can do it. But what about Trezor? Is there a way to do this in Trezor?

Any comments, info, pointers, are appreciated. Is this something serious enough to be concerned about?

[Richy_T]

Eagerly looking forward to posting pictures of The Commodore 128 !

I have Bill Gates saying 640k is enough for anyone queued up 

[DireWolfM14]

I read that these small amounts can be marked as "do not spend", so they are not moved together with our own coins. I believe Electrum can do it. But what about Trezor? Is there a way to do this in Trezor?

You can use Electrum with your Trezor, and use coin-control.  The Trezor wallets don't provide that feature.

[Richy_T]

but otherwise they're just traps waiting for the next victims

Yes. As I keep telling my friend who appears to want to dispose of his money, you're playing against people who have spent a lot of time to develop strategies, have funds to manipulate markets and often have early access. Unless you're in that stratosphere, you're the prey, not the predator.

[Torque]

r/wallstreetbets/  embracing bitcoin...

"After much deliberation, we've decided to allow for discussion about only BTC, ETH and DOGE only"

https://www.reddit.com/r/wallstreetbets/comments/mqveqc/on_crypto/

Those fkn idiots over there pumping various worthless penny stocks, thinking GME is worth hundreds per share (news flash: it's not), thinking they can squeeze the silver market (news flash: can't be done), throwing good money after bad YOLO style...

...and some of them hate crypto? Like they're so smart and it's beneath them to own it?

Oh that's ripe. You can't fix stupid.

[JimboToronto]

Good morning Bitcoinland.

No ATH yet today but hanging in well over $60k... currently $62998USD/$78845CAD (Bitcoinaverage).

Hopefully coiling for the next leg up.

Go Bitcoin go.

Eagerly looking forward to posting pictures of The Commodore 128 !

I have Bill Gates saying 640k is enough for anyone queued up 

Aren't you peeps getting a little ahead of yourselves?

We hafta see Woodrow Wilson first.

[20kevin20]

I keep receiving dust amounts of BTC in my cold wallet. They're for 0.00000547 BTC each, and come every other month or so. I remember reading here that they are used by some entities (who are they?) to 'mark' our wallets and track the movement of our coins.

I read that these small amounts can be marked as "do not spend", so they are not moved together with our own coins. I believe Electrum can do it. But what about Trezor? Is there a way to do this in Trezor?

Any comments, info, pointers, are appreciated. Is this something serious enough to be concerned about?

It's called a Dust Attack. Read more about it here: https://www.gemini.com/cryptopedia/crypto-dusting-attack-bitcoin

I would rather not move them out together with my funds than risk. Dust attacks could be an attempt to track you down - someone sends a very small amount (usually ~544 sats) to a large no of addresses and then tracks down which of the receivers moves their coins and how many.

Could be an attempt of your gov to identify you, or for a bad actor to link your addresses together. If the attacker sends you 544 sats to an address of yours containing 1 BTC and you include another input of 9 BTC in the tx, whoever sends you the dust now finds out you don't only have 1 BTC in your wallet but 10. It's easier to trace this once you send the dust yourself and start from there.

Moreover.... the cost of spending the dust is higher than the dust itself, so it makes no sense to spend them in the first place. If you want to protect yourself, you have to use Trezor with Electrum. Enable Coin Control in Electrum by going to View -> Coins and going to the new Coins tab. Right click the dust coins and freeze them if you want Electrum to know you don't want these to ever be spent.. or select the inputs you want to spend, right click and click Spend (or Spend From? I can't remember).

Edit: Trezor will have Coin Control added to the Suite by mid-May AFAIK. Ledger already has this option.

[Dabs]

Well exactly the way you said it... “depends on when you went in”, and with this logic I can argue even today in 2021 Bitcoin isn’t the best performing. Right?

That’s why when we say BTC > ETH (or any other shitcoin) we are only talking about the long term. Yes we can earn short term profit and make it a way to acquire more bitcoins but at end Bitcoin is the only store of value.

In general I agree with what you say, however, if you went in at the beginning or the start of Ethereum, I supposed that should qualify as "long term". It has different uses. But if you went in at almost any few months or years after the ICO, then yeah, that kind of long term not from the start wouldn't make as much profit.

Short term can go either way for any shitcoin.

I keep an open mind about the bigger coins and some of their tokens. Most of them are probably either not worth looking at unless you know some good references that are in that particular space, but even then they are all risky bets.

I'd go in for the tech, and this holds true, for example, for some use cases or features, such as privacy, or particular smart contracts or something else. When BTC started, in the first couple of years, most everyone was in for the tech, and had random people sending thousands of BTC to each other and 5 from the faucet and what would seem like absurd amounts.. 10k for pizza and all that. This is where amounts below $100 per whole BTC coin doesn't make much sense to include in calculations since it was not really that much valued yet, from an earlier discussion in this thread.

[vapourminer]

vaping can both make it easier and harder to quit cigs. easier because, unlike a cig, it wont stay lit till its done (cigs add chemicals to keep it burning, contrast that with a cigar with no chemicals.. it goes out when you leave it). so, light a cig and you pretty much are forced to smoke the whole thing as its gonna burn down to the filter anyway. plus it coats everything with that nice orange gunk.. (smokers just look at your computer innards and fans.. eeeew man mine were soooo disgusting).

vaping. press the button, inhale or once or twice, put it back in your pocket nice and neat, done. and those subzero mods can put out clouds of vapour of sizes that you have to see to believe. and no ash, no ashtrays that stink, no orange coating in the rooms etc. of course theres maintenance - cleaning, replacing seals, coils etc. but thats was actually an attraction to me.. kinda calming doing coils maintenance and whatnot.

[...]

I'm against smoking in general, but the way you describe vaping makes me want to try it. I see colleagues and friends with these vaping machines that look so high-tech, like some kind of weapon that came out of an alien ship or something. OLED displays, coil resistances, wattage, energy reserves. 

yeah they have upgradable firmware, you can choose the ramp up/down current on hits (gives nice smooth hits instead of hitting you like a 2x4), automatically calculate wattage needed for particular coil types and ohms, all that stuff. counts hits, takes 2 seconds to replace the batteries, flip top fills. etc. still will help kill ya though.

[JayJuanGee]

Saylor believes the 4 year cycles are over. In any case, their company is hodling for a minimum of 5 years.

Saylor can go fuck his lil selfie..


hahahahaha
 

I understand if you don't like him, for his style, or perhaps for acquiring so much Bitcoin. 

I like him in a lot of ways.

But he has arguably done more to help the Bitcoin economy than most of us here by a long shot and in under a year.  The conference he hosted alone may have accelerated our chances of hyper-bitcoinization by quite a bit.

Of course, he has done quite a bit, especially for such a new entrant into the space, including seeming to grasp various core essences of bitcoin and communicating that very well, including having some resonance with individuals and institutions that might have been more difficult to reach by people of less means / connections.

Or perhaps you take issue with his assertion that we might not see the typical 80% pullback this time?

In essence, I have already communicated that I don't agree with the various supercycle theories as being likely but we already know that anything can happen, including unlikely scenarios.. but I doubt that we should be treating long shot theories as if they are the most likely scenarios.. but you can do what you like... so my assertion that Michael can "go fuck himself" is merely a response to that angle... and was kind of funzies to say it like that.  hahahaha.. don't you get the dramatic and funzies nature of such an assertion?

He is not the only one saying that.  Dan Held believes it, and Preston Pysh has articulated it beautifully. 

Yes.. I am familiar with each of those guys and I have been hearing such claims for 6 months or more, and I am not even saying that there is NOT probabilities in such theories nor that they do not sound good.  I believe that they are theories of less likely scenarios, and surely each us needs to be prepared for a variety of scenarios, including less likely scenarios.

I like the latter's track record of selling the top of the last cycle, and saying recently that he has no plans to try that this time because he believes he is more likely to sell when he thinks it's a top, when it's just a little correction.  He thinks there is a large chance we see the boom/bust thing begin to fade during THIS cycle.

Yep.. I have heard him (Pysh) on several podcasts and making that exact claim, and many of us were too shit scared to attempt that kind of selling all at the top (or near the top) in the last cycle, and Pysh largely admitted that he got lucky in such last cycle in doing that and part of the luck was due to some of his then ignorance and newbieness to bitcoin as an investment.

No one knows... but I also am placing my bets on less of a pullback this time as well.  Which is fairly meaningless, since I do not trade. And if I am wrong?  Well I am wrong, and I still have all my Bitcoin.

I surely am way more prepared for UP than DOWN, too.. so I hardly give any shits on a personal level.  So, we are in a similar boat there, even though you seem to be getting all worked up about the strength of my statement.... hahahahaha.. and that's on you.    

But I think Saylor will go down in history along side Lazlo as one of the people who put faith in what Bitcoin was at the exact time the market needed that sort of hero.  He is certainly a "convert" with spirals in his eyes... but who are we to criticize that?

We agree that not ONLY is Saylor a hero, but he is likely to go down in the bitcoin history books as a quite notable character or mover and shaker at a time in which it was helpful to bitcoins momentum and adoption. 

You believe that his hero status (or might we say legend status) removes some of his ideas from being criticized?  Furthermore, when I said that "saylor can go fuck himself" did you not consider that some of the intention of my comment might have been directed at Dabs for idolizing what someone said?

Course.. you sort of criticize everyone and everything.  ¯\_(ツ)_/¯

I am going to criticize you right now at this here moment for criticizing me.  You fuck.

What else can I criticize?  You got MOAR of dat criticism of my criticisms?

[Dabs]

I keep receiving dust amounts of BTC in my cold wallet. They're for 0.00000547 BTC each, and come every other month or so. I remember reading here that they are used by some entities (who are they?) to 'mark' our wallets and track the movement of our coins.

I read that these small amounts can be marked as "do not spend", so they are not moved together with our own coins. I believe Electrum can do it. But what about Trezor? Is there a way to do this in Trezor?

Any comments, info, pointers, are appreciated. Is this something serious enough to be concerned about?

It's called a Dust Attack. Read more about it here: https://www.gemini.com/cryptopedia/crypto-dusting-attack-bitcoin

I would rather not move them out together with my funds than risk. Dust attacks could be an attempt to track you down ...

If you start getting lots of dust attacks, or if you constantly get dust in one particular address, I would "dispose" of that address. The way to do this is to create a new wallet from scratch, new seeds, new everything, and move your coins one address at a time to your new wallet.

If you already use an exchange, you can use them as a sort of "mixer", or if not, find a way to break the link (coinjoin, wasabi, dice? hehe.)