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

[arcmetal]

I like the concept of 'laying flat'..
"It describes young people’s preference to lay flat on a couch or floor rather than working hard to make a living."

I reject the inherent bias that "working hard to make a living" is the "right" way to live.

I completely agree.  As I always say "it's not about working hard, it's about working smart".

(I think I spend a couple of hours a week to make my "living".  The rest of the time I spend it building odd electronic devices, pieces of art, some C++ projects, and heading out to create mayhem with friends.)

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[AlcoHoDL]

[...]

But anyhow, yes, sometimes I did stumble a bit, including that there could be some difficulties to pass down the bitcoins when that mac truck hits the HODLer who has not properly written down instructions to the spouse and/or to other heirs, and surely there could also be a problem that if such good husband ONLY shares such info with such good wife, but the two of them get taken out by the same mac truck, then that might mean that such HODLer has inadequately accounted for weird things that could happen in terms of successorship, and there can be other problems or risks as well for when the house burns down, but the back-up happens to be in the house rather than in another building.. or if the other building is so god-damned close to the house, that they both burn down, and then there could be one fucked HODLer who has not adequately pee pared his/her lil selfie.

I am NOT even saying that I have these matters covered with even 95% certainty either.  I have some various systems and then back up systems and instructions, and then gosh, just going over some scenarios causes me to consider that my various systems and back up systems are not really very good for if "that random and surprise thing were to happen".. .maybe one of the reasons for sticking with bitcoin ONLY.. because shit, there are so many things to learn that it could become even MOAR complicated when adding a few shitcoins into the mix.

I haven't written any instructions anywhere, for anyone to get access to my coins if I get hit by a bus or whatever. And I don't intend to. I don't have children (yet, if ever), so I don't feel any evolutionary pressure to pass my coins on to anyone. I have lots of relatives (cousins, nieces, nephews), but, frankly, I don't see it as fair and justifiable to give them free coins just because we are genetically related.

There's no free lunch in this world, and there shouldn't be. Everyone should use their own brain and capabilities to position themselves in this world, financially, socially, intellectually. Everyone should get on their bike and work their way through life, without expecting someone else (parent, spouse, donor or whomever) to give them a free ticket.

So, if I ever die suddenly, my coins' value will effectively be spread and divided among all coiners out there. Evenly. Equally. Fairly. I feel this is fairer and more just than simply giving my coins to some spoiled brat niece or lazy nephew, just because they contain part of my DNA. I know, this sounds very misanthropic, and maybe I am a misanthrope to a degree, but, sadly, I see very few reasons not to be.

[ChartBuddy]

Explanation

[JayJuanGee]

[...]

But anyhow, yes, sometimes I did stumble a bit, including that there could be some difficulties to pass down the bitcoins when that mac truck hits the HODLer who has not properly written down instructions to the spouse and/or to other heirs, and surely there could also be a problem that if such good husband ONLY shares such info with such good wife, but the two of them get taken out by the same mac truck, then that might mean that such HODLer has inadequately accounted for weird things that could happen in terms of successorship, and there can be other problems or risks as well for when the house burns down, but the back-up happens to be in the house rather than in another building.. or if the other building is so god-damned close to the house, that they both burn down, and then there could be one fucked HODLer who has not adequately pee pared his/her lil selfie.

I am NOT even saying that I have these matters covered with even 95% certainty either.  I have some various systems and then back up systems and instructions, and then gosh, just going over some scenarios causes me to consider that my various systems and back up systems are not really very good for if "that random and surprise thing were to happen".. .maybe one of the reasons for sticking with bitcoin ONLY.. because shit, there are so many things to learn that it could become even MOAR complicated when adding a few shitcoins into the mix.

I haven't written any instructions anywhere, for anyone to get access to my coins if I get hit by a bus or whatever. And I don't intend to. I don't have children (yet, if ever), so I don't feel any evolutionary pressure to pass my coins on to anyone. I have lots of relatives (cousins, nieces, nephews), but, frankly, I don't see it as fair and justifiable to give them free coins just because we are genetically related.

There's no free lunch in this world, and there shouldn't be. Everyone should use their own brain and capabilities to position themselves in this world, financially, socially, intellectually. Everyone should get on their bike and work their way through life, without expecting someone else (parent, spouse, donor or whomever) to give them a free ticket.

So, if I ever die suddenly, my coins' value will effectively be spread and divided among all coiners out there. Evenly. Equally. Fairly. I feel this is fairer and more just than simply giving my coins to some spoiled brat niece or lazy nephew, just because they contain part of my DNA. I know, this sounds very misanthropic, and maybe I am a misanthrope to a degree, but, sadly, I see very few reasons not to be.

I actually have been thinking about creating a trust to fund a developer or something like that.. but such a thing might be a bit complicated, including having instructions to manage the trust.. it is a budding idea, and I am not sure how far my idea would be able to get beyond just thinking about the matter...

[AlcoHoDL]

[...]

But anyhow, yes, sometimes I did stumble a bit, including that there could be some difficulties to pass down the bitcoins when that mac truck hits the HODLer who has not properly written down instructions to the spouse and/or to other heirs, and surely there could also be a problem that if such good husband ONLY shares such info with such good wife, but the two of them get taken out by the same mac truck, then that might mean that such HODLer has inadequately accounted for weird things that could happen in terms of successorship, and there can be other problems or risks as well for when the house burns down, but the back-up happens to be in the house rather than in another building.. or if the other building is so god-damned close to the house, that they both burn down, and then there could be one fucked HODLer who has not adequately pee pared his/her lil selfie.

I am NOT even saying that I have these matters covered with even 95% certainty either.  I have some various systems and then back up systems and instructions, and then gosh, just going over some scenarios causes me to consider that my various systems and back up systems are not really very good for if "that random and surprise thing were to happen".. .maybe one of the reasons for sticking with bitcoin ONLY.. because shit, there are so many things to learn that it could become even MOAR complicated when adding a few shitcoins into the mix.

I haven't written any instructions anywhere, for anyone to get access to my coins if I get hit by a bus or whatever. And I don't intend to. I don't have children (yet, if ever), so I don't feel any evolutionary pressure to pass my coins on to anyone. I have lots of relatives (cousins, nieces, nephews), but, frankly, I don't see it as fair and justifiable to give them free coins just because we are genetically related.

There's no free lunch in this world, and there shouldn't be. Everyone should use their own brain and capabilities to position themselves in this world, financially, socially, intellectually. Everyone should get on their bike and work their way through life, without expecting someone else (parent, spouse, donor or whomever) to give them a free ticket.

So, if I ever die suddenly, my coins' value will effectively be spread and divided among all coiners out there. Evenly. Equally. Fairly. I feel this is fairer and more just than simply giving my coins to some spoiled brat niece or lazy nephew, just because they contain part of my DNA. I know, this sounds very misanthropic, and maybe I am a misanthrope to a degree, but, sadly, I see very few reasons not to be.

I actually have been thinking about creating a trust to fund a developer or something like that.. but such a thing might be a bit complicated, including having instructions to manage the trust.. it is a budding idea, and I am not sure how far my idea would be able to get beyond just thinking about the matter...

I like that idea and I've been considering it too, but not sure how easy it will be to manage, as you say. I'm not Warren Buffett, so I don't have the resources to set up trust funds, and my coins are not that many anyway. What I often do is donate to developers and other capable individuals, to support interesting projects. This is exactly what the criteria should be: capabilities, innovation, significance to the world. No DNA sequence should entitle anyone to have access to any amount of wealth.

Speaking of Warren Buffett, as much as I dislike the man for his anti-Bitcoin stance, I very much like his attitude towards his children's inheritance:

(FORTUNE Magazine, September 29, 1986) – WARREN BUFFETT, 56, the chairman and guiding genius of Berkshire Hathaway, the phenomenally successful holding company, is worth at least $1.5 billion. But don't bother being jealous of his three children. Buffett does not believe that it is wise to bequeath great wealth, and plans to give most of his money to his charitable foundation. Having put his two sons and a daughter through college, the Omaha investor contents himself with giving them several thousand dollars each at Christmas. Beyond that, says daughter Susan, 33, ''If I write my dad a check for $20, he cashes it.''

Buffett is not cutting his children out of his fortune because they are wastrels or wantons or refuse to go into the family business -- the traditional reasons rich parents withhold money. Says he: ''My kids are going to carve out their own place in this world, and they know I'm for them whatever they want to do.'' But he believes that setting up his heirs with ''a lifetime supply of food stamps just because they came out of the right womb'' can be ''harmful'' for them and is ''an antisocial act.'' To him, the perfect amount to leave children is ''enough money so that they would feel they could do anything, but not so much that they could do nothing.'' For a college graduate, Buffett reckons ''a few hundred thousand dollars'' sounds about right.

Source: https://archive.fortune.com/magazines/fortune/fortune_archive/1986/09/29/68098/index.htm

[ChartBuddy]

Explanation

[Gyrsur]

Anyone else seeing this?

Currency (Forex, FX) trading is a bitch. The markets are very erratic and you have no volume information because it is OTC trading of the Big Banks.

Crypto markets are still very immature. Susceptible to manipulation because of the low trading volume. Buy and HODL on a longer horizon may be a much better idea there.

Found a good YT channel:

A Highly Effective Trading Strategy (For Beginners)

How To Draw Fibonacci Extensions The Right Way (Tutorial)

99.99% Of Traders Make This Mistake (Price Action)

In addition to that: How to draw Fibonacci Retracement levels the right way? In a down swing the 100% (1.0) is above and the 0% (0.0) is below.

https://www.investopedia.com/articles/active-trading/091615/how-set-fibonacci-retracement-levels.asp

[bitebits]

Dump it:


https://twitter.com/stack__sats/status/1404226729066049540

[aesma]

I think raising your kids with the idea "you won't get my money", but giving them a good education, enough to go to college, is a good idea, and it might even lead you to give them money after all, once they don't really need it.

You can't really do that in France though, because it's illegal to disinherit your kids. The only way is to spend it all !

[Karartma1]

https://twitter.com/AaronvanW/status/1403701284495110145

Thanks for this, I went through the links. Nice historical references to the progression to where we are now. All the concepts involved are very interesting and significant. Math & science at its best.

My only concern is that the more of such elements one adds to the protocol, the more complex it becomes, and this has the potential to make it less robust (more vulnerable to attacks and other complications). I'm very supportive of any improvement that can add important features to the protocol, but I'm just a tiny little bit concerned of the end result, once the beast is released out in the wild. I trust the developers and I'm sure they've tested everything thoroughly, so hopefully nothing wrong will come out if this, but just a stronger, more capable, more flexible protocol.

I get your concern, any code added increases the attack surface. BUT the beauty is you don't have to use the newly added functionality (as with most other software upgrades). It is a softfork, legacy addresses or multisig not using Schnorr signatures and Tapscript will keep on working just fine (and the Schnorr signature scheme is from 1990 so already rather proven). It is now up to the wallet software providers and blockchain explorers to update their software, for exchanges and third party custodians it will (and probably should) take even longer.

Guess I am trying to say the adoption of Taproot will be slowly over time. It is not that with the Taproot activation in November anything immediately changes to Bitcoin.

The beauty of BTC is that the idea is from the 70s and the code is moslty from 90s 00s.
And people still don't get how valuable that is.
Thanks bitcoin devs

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[Syke]

You can't really do that in France though, because it's illegal to disinherit your kids. The only way is to spend it all !

[Gyrsur]

the 200 EMA seems to work on all higher timeframes.

BTW, Wyckoff Phase D in place, IMO.

1H


2H


4H


12H

[Gyrsur]

[shahzadafzal]

Who's stopping crossing $40k now?


CMC showing BTC dominance 145.6%... I mean OK!!!

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[bitebits]

[...]

But anyhow, yes, sometimes I did stumble a bit, including that there could be some difficulties to pass down the bitcoins when that mac truck hits the HODLer who has not properly written down instructions to the spouse and/or to other heirs, and surely there could also be a problem that if such good husband ONLY shares such info with such good wife, but the two of them get taken out by the same mac truck, then that might mean that such HODLer has inadequately accounted for weird things that could happen in terms of successorship, and there can be other problems or risks as well for when the house burns down, but the back-up happens to be in the house rather than in another building.. or if the other building is so god-damned close to the house, that they both burn down, and then there could be one fucked HODLer who has not adequately pee pared his/her lil selfie.

I am NOT even saying that I have these matters covered with even 95% certainty either.  I have some various systems and then back up systems and instructions, and then gosh, just going over some scenarios causes me to consider that my various systems and back up systems are not really very good for if "that random and surprise thing were to happen".. .maybe one of the reasons for sticking with bitcoin ONLY.. because shit, there are so many things to learn that it could become even MOAR complicated when adding a few shitcoins into the mix.

I haven't written any instructions anywhere, for anyone to get access to my coins if I get hit by a bus or whatever. And I don't intend to. I don't have children (yet, if ever), so I don't feel any evolutionary pressure to pass my coins on to anyone. I have lots of relatives (cousins, nieces, nephews), but, frankly, I don't see it as fair and justifiable to give them free coins just because we are genetically related.

There's no free lunch in this world, and there shouldn't be. Everyone should use their own brain and capabilities to position themselves in this world, financially, socially, intellectually. Everyone should get on their bike and work their way through life, without expecting someone else (parent, spouse, donor or whomever) to give them a free ticket.

So, if I ever die suddenly, my coins' value will effectively be spread and divided among all coiners out there. Evenly. Equally. Fairly. I feel this is fairer and more just than simply giving my coins to some spoiled brat niece or lazy nephew, just because they contain part of my DNA. I know, this sounds very misanthropic, and maybe I am a misanthrope to a degree, but, sadly, I see very few reasons not to be.

I actually have been thinking about creating a trust to fund a developer or something like that.. but such a thing might be a bit complicated, including having instructions to manage the trust.. it is a budding idea, and I am not sure how far my idea would be able to get beyond just thinking about the matter...

I like that idea and I've been considering it too, but not sure how easy it will be to manage, as you say. I'm not Warren Buffett, so I don't have the resources to set up trust funds, and my coins are not that many anyway. What I often do is donate to developers and other capable individuals, to support interesting projects. This is exactly what the criteria should be: capabilities, innovation, significance to the world. No DNA sequence should entitle anyone to have access to any amount of wealth.

[...]

Multisig (3/6 for example) fixes this. No need for trust funds or spreading around parts of your seed (which could solve the no children part). It can be perfectly decentralized.

There needs to be consensus between the cosigners to sign the transactions, which stops a rogue individual or even two to get fancy and run with the coins. If you and your partner get robbed or kidnapped, there are not enough signers to make the coins move. When you both die, there is plenty of redundancy to still move the coins according to your will.

You can have a single sentence in your will that you want the funds to go to Bitcoin developers. Have the cosingers figure it out themselves who that should be, when and how much. You can even get fancy and reward the cosigners with a % commission so there is an incentive to actually donate the coins.

[ChartBuddy]

Explanation