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

[El duderino_]

[Gyrsur]

SOMA/POMA Wyckoff:

Phase D (Accumulation)

The Phase D represents the transition between the Cause and Effect. It stands between the Accumulation zone (Phase C) and the breakout of the trading range (Phase E).

Typically, the Phase D shows a significant increase in trading volume and volatility. It usually has a Last Point Support (LPS), making a higher low before the market moves higher. The LPS often precedes a breakout of the resistance levels, which in turn creates higher highs. This indicates Signs of Strength (SOS), as previous resistances become brand new supports.
Despite the somewhat confusing terminology, there may be more than one LPS during Phase D. They often have increased trading volume while testing the new support lines. In some cases, the price may create a small consolidation zone before effectively breaking the bigger trading range and moving to Phase E.

IMO, we are at the beginning to leave the Accumulation zone.

EDIT:

[ChartBuddy]

Explanation

[Toxic2040]

the morning wall report

fairly epic engagement over the weekend with increasing volumes...FUD diminishing...signals flowing..a good look for bitcoin imho

carry on

#dyor

1h



4h

#stronghands

[JayJuanGee]

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

The trust fund aspect is something that I have been thinking about creating a thread on such topic because it can be quite involved. 

Surely there are a couple of ways of thinking about it, and one aspect would be if you already feel that you have an excessive quantity of coins, then you might put those coins into such fund and then practice managing them while you are still alive in order to get a kind of practice and routine going so that when you finally do kick the bucket (hopefully there is enough time in there), then a procedure is kind of in place and also you could then have some of your remaining and separate funds get funneled into the trust that is already in place and takes care of any of your value that you had failed or refused to spend prior to ded.

A second aspect would be if you conclude that you do not have enough coins or value (which actually could change depending on where king daddy prices go), then you merely attempt to describe whatever the process and procedure for the handling of such coins upon your becoming ded.  Surely, there would be some preference to putting some kind of practice in place prior to becoming ded, but still not everyone is going to feel that they have reached a sufficient quantity of value to set aside funds for that or to make some kind of processing of the coins through such trust to be "meaningful."

I don't really have any disagreement with your acceptance of Buffet kind of ideas in regards to considering putting limits on passing on wealth if there would be enough wealth to divide amongst some potential deserving folks that might be the right thing to do.. perhaps in addition to the trust.. or before even contemplating a trust if the value might not be enough in order to divide into those different categories that surely have differing considerations.

[macson]

Welcome back $40K.

next $50k -> $60k and welcome new ATH

#i'm_not_selling
#stronghand

[ChartBuddy]

Explanation

[Dabs]

For the coins to be inherited, education is one of the keys. You have to inform or teach your children or whoever will get your coins, on what is possible, and what you believe is the best use of them, as opposed to simply cashing it all out.

You have to teach them as early as you can, which may not work out well if the ones who will inherit what you leave behind are young children, in which case you need some sort of guardian to handle it for them and for you anyway. If you're a billionaire like the fictional Wayne family from Batman, you have your trusted butler Alfred. You can't stop your kid from becoming a masked vigilante but maybe he'll know what to do with your corns.

Multisig does not have to be overly complicated, plus most people in the normal world just have lawyers handle this. IF you really have a lot of corns, it wouldn't be too much to prepare for this and have 2 lawyers out of 3 lawyers that will be able to access the coins, (or they give the keys to your children, and your kids figure out how to spend it.)

If you can't trust your own kids to be able to handle this, and can't trust other people to help them handle this, then I'd argue you can let someone else have your corns instead, or have no one else have them, although that would be a waste.

I do have some people use me for this purpose but they put their trust that I will do their wishes upon their passing and take care of sending the corns to their kids either as a lump sum or some other arrangment like a monthly installment.

Could also try to get them an annuity plan and let the insurance company / bank take care of it, if you trust the bank or insurance company.

[FIFA worldcup]

History $  Future BTC

[JayJuanGee]

Dump it:


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

Didn't you end up being wrong in citing this one, bitebits?

Surely there was a wee bit of a down right after you posted it from $39,500 to $38k, then there was some flat for a few hours then an up to $41k - and currently we are bouncing around $40k - about 10 hours after your post.

7=a1m'9?T7G0w5q{^QetXyV08^y7Tk4-

That password has 167 bits of entropy.  It would be practically impossible to guess.  Also practically impossible to remember.  

Good idea for a password.  I am going to use that one, especially since it's so solid.

[bitebits]

Dump it:


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

Didn't you end up being wrong in citing this one, bitebits?

Surely there was a wee bit of a down right after you posted it from $39,500 to $38k, then there was some flat for a few hours then an up to $41k - and currently we are bouncing around $40k - about 10 hours after your post.
[...]

Look again

[Gyrsur]

7=a1m'9?T7G0w5q{^QetXyV08^y7Tk4-

That password has 167 bits of entropy.  It would be practically impossible to guess.  Also practically impossible to remember.  

Good idea for a password.  I am going to use that one, especially since it's so solid.

should I tell you a secret?  

that PW is a Brain Wallet!

[ChartBuddy]

Explanation

[Gyrsur]

Dump it:


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

Didn't you end up being wrong in citing this one, bitebits?

Surely there was a wee bit of a down right after you posted it from $39,500 to $38k, then there was some flat for a few hours then an up to $41k - and currently we are bouncing around $40k - about 10 hours after your post.
[...]

Look again

YOU GENIUS MF!  

[JayJuanGee]

So ….. when….. 45?

Then when…. 50?

Then when …. ATH?

Then ………. When…… 6 digits ?

Etc etc

You have too many questions, dude...... .and not enough answers.


... especially the etc, etc part because you are just signaling that if any of us were to be so brave as to even attempt to answer your previous 4 questions, then you would just have more and more and more...

 


We need answers, here.  NOT MOAR questions!!!!

 

[~also too many questions~ and not even "family-friendly" ones]

My guess is 70k is coming. soon.^tm

First of all, I had to fix that for you.

Second, I am surely grateful for your lame-ass attempt at providing an answer; however, we have already had quite a bit of not so good luck with variations of your "$70k soon^tm" framenings.

I am feeling penetrated. #nohomo.

[AlcoHoDL]

Interesting discussion re. children's inheritance planning. Lots of good ideas (trust funds, multisigs, even the funeral party one was nice, although there's no fun being at a party when you're dead -- at least I'll enjoy watching you from above if there's an afterlife, which I very much doubt there is).

After contemplating all this, one thing becomes pretty clear: being your own bank is not easy. Nowhere near it. It requires deep knowledge and understanding of cryptography, security, taking things really seriously and applying good security practices in a systematic and highly organized, almost religious manner. This is something most people don't want to do, or are not capable of doing. This is serious business. You can turn from billionaire to penniless in a matter of seconds if you make a mistake.

I fully subscribe to cAPSLOCK's stance on banks. We're going to need banks. Not necessarily in their current form, but we're going to need them. Even in a Bitcoin world, banks will be necessary for the majority of people, as custodians and managers of their assets (fiat, Bitcoin or whatever else comes along). The majority of people need a centralized custodian to take care of their wealth. They need a customer service phone number. Someone to call when they mess up and want to reverse an unintended transaction. Somewhere to go, to talk to someone. Being your own bank puts total control in the hands of the end-user, and that's not usually an end-user's task. At least not in the current state of things.

Bitcoin is like a high-voltage line. It possesses so much energy, can do so many things, but can also kill you instantly (or, rather, your wealth, which is the same thing really). Society is not yet ready for it, and I'm not quite sure it will ever be able to fully apply the "not your keys, not your Bitcoin" principle. Keys are too hot to handle, it seems, and most people will not want to directly deal with them. I predict that we will see this happening in El Salvador. The Lightning Network (a higher-level, off-chain solution) is already picking up speed there. It will be interesting to see how things play out, but I very much doubt that the average Salvadorian will be able to deal with keys, seeds, multisigs, Trezors, BIP39 and paper wallets.

The good thing though, is that those of us who want to be their own bank, can now choose to do so. I imagine virtually all WOers to be in this category. In the traditional monetary system, there was no choice, you had to deal with the banking system one way or another. The only option was stashing cash or gold or other precious object, with all the drawbacks and the danger this entails. Bitcoin has given the world the freedom to choose how to manage their wealth. But "freedom to choose" does not mean "ability to do" something, just like freedom of speech does not make all of us grand journalists. Some people will still blindly believe what they read in the papers and will keep being brainwashed by the mass media.

Bitcoin is like Tor for money. It puts you behind the steering wheel, but you'd better know how to drive.

[Hueristic]

7=a1m'9?T7G0w5q{^QetXyV08^y7Tk4-

That password has 167 bits of entropy.  It would be practically impossible to guess.  Also practically impossible to remember.  

Good idea for a password.  I am going to use that one, especially since it's so solid.

Great Idea!

I'll use it too and I'll never have to worry about forgetting it because its backed up right here!

[Toxic2040]

So ….. when….. 45?

Then when…. 50?

Then when …. ATH?

Then ………. When…… 6 digits ?

Etc etc

You have too many questions, dude...... .and not enough answers.


... especially the etc, etc part because you are just signaling that if any of us were to be so brave as to even attempt to answer your previous 4 questions, then you would just have more and more and more...

 


We need answers, here.  NOT MOAR questions!!!!

 

[~also too many questions~ and not even "family-friendly" ones]

My guess is 70k is coming. soon.^tm

First of all, I had to fix that for you.

Second, I am surely grateful for your lame-ass attempt at providing an answer; however, we have already had quite a bit of not so good luck with variations of your "$70k soon^tm" framenings.

I am feeling penetrated. #nohomo.

[JayJuanGee]

Something is wrong with this meme because we first reached $40k on January 5... #justsaying

7=a1m'9?T7G0w5q{^QetXyV08^y7Tk4-

That password has 167 bits of entropy.  It would be practically impossible to guess.  Also practically impossible to remember.  

Good idea for a password.  I am going to use that one, especially since it's so solid.

should I tell you a secret?  

that PW is a Brain Wallet!

Oh?

And?

Dump it:


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

Didn't you end up being wrong in citing this one, bitebits?

Surely there was a wee bit of a down right after you posted it from $39,500 to $38k, then there was some flat for a few hours then an up to $41k - and currently we are bouncing around $40k - about 10 hours after your post.
[...]

Look again

YOU GENIUS MF!  

I looked again.

It's not helping.

Feels like grade school, again....

everyone knows except mmmmeeeeee.

 

[Gyrsur]

Dump it:


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

Didn't you end up being wrong in citing this one, bitebits?

Surely there was a wee bit of a down right after you posted it from $39,500 to $38k, then there was some flat for a few hours then an up to $41k - and currently we are bouncing around $40k - about 10 hours after your post.
[...]

Look again

YOU GENIUS MF!  

I looked again.

It's not helping.

Feels like grade school, again....

everyone knows except mmmmeeeeee.

 

Look again. just one and last hint: it's a test how flexible you are - mindset like.