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

[cAPSLOCK]

So what did you put in the search engine bro?  just curious.....

... +"llamas mating image"


https://www.youtube.com/watch?v=IVwnAyw6m0Y

 I had always imagined that every OG bitcoiner had their own Alpaca ranch.  Disappointed!

When it's all said and done, I might just buy one to have it around.

[cAPSLOCK]

But anyway, I was fond of his entertainment persona. That will be missed. And I don't think it was a suicide.

I wonder what will happen to all his coins... ?? ....        

And this is something I've been pondering recently... A maybe yet to be realized mitigating factor in the long-term course of this new currency.
We've already mentioned coins lost to forgotten keys and typos... but what about the generational wealth transfer that breaks down far more often than it succeeds as our first generation of HODL'ers fail to properly secure a means of passing coins on in the inevitable unfortunate demise.

With paper Fiat it's not uncommon to find out years later that old Uncle Festus had hidden thousands of $$$ under his floor boards. Or that Grandpa Irving had an old savings account or safety deposit box with forgotten fortunes waiting to be claimed.

At the simplest, bitcoiners may possibly have a paper backup, or the seed words, or some other private keys safely stored. Those can be under the floor boards or more likely in some safe or box or file cabinet.

There are also some multi-sig procedures so heirs can get access to coins.

If you currently do not have a recent back up, or tested a restore from your backup, or tried to load up your wallet (air gapped / cold of course) then now would be a good time to test if the procedure works. You can always destroy the new wallet if you don't intend to use it.

Extremely important post.  Better to handle these things sooner rather than later...

[modrobert]

But anyway, I was fond of his entertainment persona. That will be missed. And I don't think it was a suicide.

I wonder what will happen to all his coins... ?? ....        

And this is something I've been pondering recently... A maybe yet to be realized mitigating factor in the long-term course of this new currency.
We've already mentioned coins lost to forgotten keys and typos... but what about the generational wealth transfer that breaks down far more often than it succeeds as our first generation of HODL'ers fail to properly secure a means of passing coins on in the inevitable unfortunate demise.

With paper Fiat it's not uncommon to find out years later that old Uncle Festus had hidden thousands of $$$ under his floor boards. Or that Grandpa Irving had an old savings account or safety deposit box with forgotten fortunes waiting to be claimed.

At the simplest, bitcoiners may possibly have a paper backup, or the seed words, or some other private keys safely stored. Those can be under the floor boards or more likely in some safe or box or file cabinet.

There are also some multi-sig procedures so heirs can get access to coins.

If you currently do not have a recent back up, or tested a restore from your backup, or tried to load up your wallet (air gapped / cold of course) then now would be a good time to test if the procedure works. You can always destroy the new wallet if you don't intend to use it.

Extremely important post.  Better to handle these things sooner rather than later...

Backing up wallets are important, but regarding lost coins in general on the Bitcoin blockchain, I tend to agree with Satoshi.

Lost coins only make everyone else's coins worth slightly more.  Think of it as a donation to everyone.

[cAPSLOCK]

Backing up wallets are important, but regarding lost coins in general on the Bitcoin blockchain, I tend to agree with Satoshi.

Lost coins only make everyone else's coins worth slightly more.  Think of it as a donation to everyone.

I am not surprised at the mixed response to Popescu's demise.  He was an amazingly prolific probable genius, and he was an (in my opinion) awful person.

I would be extremely surprised if the mass of his coins, however many there were, were not set up in a fairly tight system.  I think there is a VERY good chance they are lost as in a donation to us all ala Satoshi.  And in this case the size of the donation could be ridiculous... as much as 5-7% of the remaining float, maybe even more.

Of course no one knows (yet) how many there really were, and like the satoshi coins we most likely will never be able to know for SURE that some sex-slave who got close enough to figure out his system would not be able to access them and rock the markets, lol.  Seriously it's a possible time bomb the size of the Satoshi stash itself.

He was so twistedly brilliant I would also not be surprised if he set them in some convoluted dead man switch setup.  He could surprise us from the grave.

Assuming he is dead at all.

The intrigue in our little world runs deep!

Does anyone know yet what killed him?

-Edit- well look at that.  An actual boating accident?  He supposedly drowned. lol.

I also bristle somewhat at the moniker "Father of Bitcoin Maximalism".  THere is certainly crossover there, but most "Maximalists" today have no idea who he was, and his brand of maximalism differed I think.  i think the title "The earliest bitcoin maximallist" would be more accurate.

[ChartBuddy]

Explanation

[Dabs]

I also bristle somewhat at the moniker "Father of Bitcoin Maximalism".  THere is certainly crossover there, but most "Maximalists" today have no idea who he was, and his brand of maximalism differed I think.  i think the title "The earliest bitcoin maximallist" would be more accurate.

I would consider myself a maximalist, but then I don't necessarily discount the alts outright so some may disagree here. However the word "maximalist" or "maximalism" as it refers to bitcoin seemed to have originated from an alt-coiner, namely Buterin, so it would also seem to be intended as a derogatory term instead of as a badge of pride as some others use it now.

I think it's like the words "geek" and "nerd" ... some people think it is an insult but some call themselves the same name proudly.


As for his secret stash, the tech to do multi-sig inheritances has been around, plus one can always have a server running ... there are a few dead man's switches out there that work by sending an email after a certain number of days has passed and the timer has not been reset.

[UnDerDoG81]

Was preparing for sell a bit tonight to take profit from the usual weekend dump. But now they start to pump Sundays and dump Tuesday nights (Europe time) already lol.

[ChartBuddy]

Explanation

[ImThour]

Hut8Mining buys $44 million of miners, and is set to double its hashrate by year-end.
What do you think about this?

[JayJuanGee]

https://twitter.com/ChartsBtc/status/1410026778127605761

CAGR = compound annual growth rate.

So what you are trying to say here is that there's a pattern in the market that makes it really predictable? I had seen this pattern before but I don't believe it, maybe if in the next halving the prices did go up again, I would believe it.

The charts seem to be showing an all time annual price doubling; however, if we look at each of the four-year periods, then we seem to be getting a bit of a flattening of the amount of annual growth in each four your period, which is likely to drag down the overall average per year too.

[ChartBuddy]

Explanation

[El duderino_]

Hut8Mining buys $44 million of miners, and is set to double its hashrate by year-end.
What do you think about this?

Bullish 

[Copetech]

Wuh OH!
Looks like we're in for a little downtime!📉

Sit down newbie! ... There is no such thing happening.    

Jest Sayin'
Red dripping candles
6:00

In case some may have looked away for a moment...

Observations made.

(beeyitch)

Jest Sayin'...

(CB Block)

[ChartBuddy]

Explanation

[LFC_Bitcoin]

@T3naciousC
Keep selling your $btc at a discount to the big boys so you can buy it back later at a serious premium 😁

So much extreme bullish stuff happening to #bitcoin  nowadays and pleb doesn't seem to look further that number go up or number go down on a 5 minute chart...
https://twitter.com/t3naciousc/status/1410283409482698758?s=21

[Hueristic]

By Osato Avan-Nomayo

NYDIG set to bring Bitcoin adoption to 650 US banks and credit unions

...

https://cointelegraph.com/news/nydig-set-to-bring-bitcoin-adoption-to-650-us-banks-and-credit-unions

Now, Brown says “dozens” of NCR’s banking and credit union clients have come to his company complaining that their customers were using their savings to buy bitcoin and other cryptocurrencies.

https://www.forbes.com/sites/michaeldelcastillo/2021/06/30/6-billion-ncr-opens-bitcoin-purchases-to-650-banks-and-credit-unions/?sh=7ff484543f82

[cAPSLOCK]

I think we are bound to get a pretty big move soon.  Maybe this weekend. Up or Down?  Dunno.

Miner fud/reality.
Difficulty adjustment in 236 blocks (<2 days).

I can't get the state attack paranoia out of my damn goofy head.

I hope I am wrong but my spidey senses are really going zoinkers.  Y'all can make fun of me forever if it turns out to be a nothing-burger. I won't mind.  I would rather be crazy than right.  And I still think it's the smaller possibility.

But how on earth is this about to happen and NOT betaken advantage of.  We are about to see a LOT of money on the table.

1.  We can only really hope that the "good guys" have plans and enough resources to counter the "bad guys".
2.  In the WORST case scenario we get two things... a rare BTFD event, and proof (after the dust clears) that Bitcoin cannot be stopped.

[sirazimuth]

....  What a hard time for them to become famous.  They lived in a long long shadow...  Hmm... is not that somehow related to an azimuth? 

Azimuth? I've never heard of such a strange sounding word. I'd better ask the Google man....

[OutOfMemory]

@T3naciousC
Keep selling your $btc at a discount to the big boys so you can buy it back later at a serious premium 😁

So much extreme bullish stuff happening to #bitcoin  nowadays and pleb doesn't seem to look further that number go up or number go down on a 5 minute chart...
https://twitter.com/t3naciousc/status/1410283409482698758?s=21

twitter source says about 90% of china's active btc resources (from miners and traders) are said to be shipped abroad or sold. I guess there is still some range-chopping going on by the last 10%. Once we are through this, btc should go up again. 21st of July is the date the CCP chose as the deadline, afaik. Anybody mining/trading btc will be in big trouble over there in china.
Miners that transfer their hardware to foreign countries (hello, El Salvador...) would profit from the difficulty drop, thanks to their political leaders.
China, you failed.

Some happenings around here, as well: I got an ear infection yesterday, developed a sore throat, mild fatigue, sweating and shortness of breath today.
Covid anitgen saliva test at home was positive, so i went to a testing station, where they tested negative two times swabbing the nostrils. That makes sense, yeah  
They told me they won't do PCR testing on a throat sampled swab, because i don't have fever or dry cough.
Wish me luck, i'll go to rest now and re-test via saliva sample tomorrow.
The infection numbers in my area are very low, so it must have been a lot of bad luck if i actually caught sars-cov-2, though.

[Elwar]

@T3naciousC
Keep selling your $btc at a discount to the big boys so you can buy it back later at a serious premium 😁

So much extreme bullish stuff happening to #bitcoin  nowadays and pleb doesn't seem to look further that number go up or number go down on a 5 minute chart...
https://twitter.com/t3naciousc/status/1410283409482698758?s=21

twitter source says about 90% of china's active btc resources (from miners and traders) are said to be shipped abroad or sold. I guess there is still some range-chopping going on by the last 10%. Once we are through this, btc should go up again. 21st of July is the date the CCP chose as the deadline, afaik. Anybody mining/trading btc will be in big trouble over there in china.
Miners that transfer their hardware to foreign countries (hello, El Salvador...) would profit from the difficulty drop, thanks to their political leaders.
China, you failed.

Some happenings around here, as well: I got an ear infection yesterday, developed a sore throat, mild fatigue, sweating and shortness of breath today.
Covid anitgen saliva test at home was positive, so i went to a testing station, where they tested negative two times swabbing the nostrils. That makes sense, yeah  
They told me they won't do PCR testing on a throat sampled swab, because i don't have fever or dry cough.
Wish me luck, i'll go to rest now and re-test via saliva sample tomorrow.
The infection numbers in my area are very low, so it must have been a lot of bad luck if i actually caught sars-cov-2, though.

Take some Vitamin D and Zinc in the morning. Take 1g of Vitamin C every hour all day. That knocked out my COVID in a day.