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

[cryptofrka]

I strongly recommend avoiding wallets. I keep all my coins in cold storage addresses.

I only use a wallet (Mycelium or Coinami)to facilitate transfers. I never leave anything in a wallet for longer than it takes for the transactions to be confirmed by the network.

I absolutely never allow my coins to be in anyone else's possession... no online exchanges, etc. When I buy or receive coins, it's always straight into cold storage addresses I created on an internet incapable computer and printer. When I sell, it's face-to-face for cash on the spot.

When I say wallets, I mean things like Electrum or Metamask - not stuff like Coinomi or Trust.
Fair play tho, it could have been misunderstood and you should never hold your coins on a wallet like that

Never understood the psyche of people, who are into Crypto for several years and yet ready to do KYC for anything related to Crypto! I mean, why would someone do public registration of a private asset holding is beyond my realm of understanding. Even buying a HW by providing any sort of personal info kills the whole purpose of Crypto.

There were lines of people scanning their eyeballs for pennies for that Worldcoin project. Most of them don't really care that much.

[1714593572]

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[1714593572]

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[Volgastallion]

I absolutely never allow my coins to be in anyone else's possession... no online exchanges, etc. When I buy or receive coins, it's always straight into cold storage addresses I created on an internet incapable computer and printer. When I sell, it's face-to-face for cash on the spot.

So basically we (the humanity) invented a whole new technologies, and the internet and more things after that, only to ended up selling in a face to face market?

I know you do this things for security reasons, but we need to improve. We need to do the life in the net not outside like before, for what we desing a way of payments in the net and anonnimity? To ended up in a face to face? no sense.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[philipma1957]

buddy be teasing 26.1k

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[xhomerx10]

 The same resin from poison ivy that causes so much discomfort is also used as a lacquer base to create some of the most beautiful and functional works of art which can be used to write words that have "the ability to help, to heal, to hinder, to hurt, to harm, to humiliate and to humble¹".
¹ - Yehuda Berg

 

  The Sailor - King of Pens - Chinkin Bumblebee
https://pen-venture.com/products/sailor-king-of-pens-chinkin-bumblebee-limited-production <- in case you want to purchase one of the 28 created for the limited production run

[Hueristic]

The same resin from poison ivy that causes so much discomfort is also used as a lacquer base to create some of the most beautiful and functional works of art which can be used to write words that have "the ability to help, to heal, to hinder, to hurt, to harm, to humiliate and to humble¹".
¹ - Yehuda Berg

w0rd.

[xhomerx10]

https://cryptopotato.com/bitcoin-miner-gets-paid-nearly-32-million-to-reduce-mining-rate-this-august/

Bitcoin Miner Gets Paid Nearly $32 Million To Reduce Mining Rate This August
Author: Cristian Lipciuc
Riot Platforms was paid $31.7 million in energy credits by the Texas power grid operator ERCOT.


 ERCOT, the Texan energy grid operator, has long had an informal relationship with crypto mining companies in the state.  Since crypto mining companies often consume enormous amounts of electricity to power their activities, ERCOT opted to develop cordial relationships with them instead of trying to stifle their activities.   One of the ways this relationship unfolds is through the offering of energy credits in return for a reduction in power consumption during crucial moments...

...the Texan energy grid was at risk of being overwhelmed due to a marked increase in air conditioning equipment being used.  In order to stave off any unfortunate events, ERCOT asked Riot Platforms and other crypto miners to reduce their energy consumption.

 To compensate for the loss of potential profit generated by mining Bitcoin, ERCOT offered the mining company $31.7 million in energy credits – a figure slightly higher than the potential proceeds of mining and selling Bitcoin during the month of August.

 ...“All you have to do is pay the miners slightly more than what they would have made mining for bitcoin that hour. It’s a win-win.”...

 Night and day difference compared to New York's outright hostility toward bitcoin miners.

[Richy_T]

You may be right but this time his prediction seems okay to me because we all know that some days before halving there can be a good pump in Bitcoin's value and during halving the pump may get intense to reach the values of around 46k or even more. What do you think about that? Don't you think that there will be a pump during the halving event or few days before it?

Halving can be meh because it's usually priced in before the event and then it takes a little while afterward for the change in supply to actually affect things. Never say never though.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[sirazimuth]

The same resin from poison ivy that causes so much discomfort is also used as a lacquer base to create some of the most beautiful and functional works of art which can be used to write words that have "the ability to help, to heal, to hinder, to hurt, to harm, to humiliate and to humble¹".
¹ - Yehuda Berg

 

  The Sailor - King of Pens - Chinkin Bumblebee
https://pen-venture.com/products/sailor-king-of-pens-chinkin-bumblebee-limited-production <- in case you want to purchase one of the 28 created for the limited production run

Funny pen fact…
A company online that sells pens.
The name of the company is Pen Island.
The website is Penisland. net.   They specialize in wood.

I’m not making this up.    http://www.penisland.net/

“Your pen is
 Our business! “

…..oh that’s rich, lol.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[philipma1957]

buddy has popped a bit of wood. 26.3k

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[philipma1957]

buddy be softening.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[philipma1957]

buddy with a 26.2k is back to crablike motion he has become a sideways mutter fuker.

[Gachapin]

[edited out]

I am really sorry if you are feeling I am not real person and create some confusion here because I am not here for anything wrong just for information, and you already provide good links which I will read and try to understand because few things are very important before jumping into any field but still I am really thankful for your kind information and other details. Just last thing which is a better way to keep my bitcoin safe because I check mostly exchanges needs personal information and I have no problem to provide them this all but is this safe to keep bitcoin on these exchanges or any other way is better, thanks.

I am not opposed to holding some value on exchanges (or with third parties.  In some cases it might be practical while you are learning how to be your own bank), maybe up to a few thousand dollars, and surely for each person the threshold will be different in terms of at what point you are going to want to bring some (or all) of that value off of the exchanges.. and surely you should want to try to learn about some private ways to hold your coins.. so it gives you options to have your coins in private wallets in which no one can stop you from being able to spend them and other potential powers that you might have from having your own keys that may or may not be readily apparent or even something that everyone seeks for themselves, but on the other hand, there is always a threat of either rug pull or various kinds of locking up of your funds when 3rd parties hold your keys.

There are likely several different ways to hold your bitcoin, and Trezor is pretty good.. either the Trezor one (which is cheaper) or the more expensive Trezor Model T and you want to make sure you get it from an authorized source (or authorized reseller) and with trezor it seems better to use the extra word too and also maybe to have some decoy value that you keep on the regular section that does not have the extra word... and of course, it is up to you how you might organize the various accounts on the trezor and get used to it...

Passport and Coldcard are likely good too. but a bit more sophisticated as compared with the Trezor, and there are other members who like Electrum, Spectrum and Sparrow, but I have not really used them... and there are other wallets and forum threads on the topic, and there are some members who like paper wallets, but I am not really accustomed to them, either...

You can also use Bluewallet, but I am a bit weary of keeping too much value on your phone... and maybe Phoenix and Breez are good lightning network wallets, and maybe guys have other recommendations, and there are forum threads on a lot of these topics that could get in depth and just require you to figure out what kinds of tradeoffs that you might be wanting to make to ensure that you have your coins privately and that they are sufficiently safe from getting taken including being careful not to create systems that are so complicated that you end up locking yourself out of your own coins, since there are responsibilities in being your own bank that can sometimes not be exactly straight-forward in terms of learning or even realizing if you might be putting your coins in jeopardy.  

Trezor is excellent. I can vouch for Model One (the original). T can maybe do more altshitcoins better, but One is more than enough for BTC -- at least that's the way I use it. Just to reiterate (have covered this topic extensively in the past) that Trezor is just a tool for user-friendly access to your wallet. The actual wallet is the 24(+1)-word seed. It's not material. It's numbers in number-space. So, even if the physical device is lost, stolen, damaged, or even sunk in a failed seastead attempt or boating accident, your wallet is still out there, as it will always be, for all eternity, set in stone by math & science, and only accessible via the seed. It's the seed that one should secure and never lose.

...

afaik, for the Trezor to be absolutely safe in case of theft you would want a 128 bits entropy passphrase.
Alternatively you can use a PIN with 39 digits (Model T). Note: it will be more than 39 digits for the small Trezor as its PIN numbers include only numerals from 1-9 and not 0-9 like the Model T.

PSA: Trezor doesn't have the oft-mentioned seed extraction vulnerability. Use a strong PIN.
https://www.reddit.com/r/Bitcoin/comments/sdx4r6/psa_trezor_doesnt_have_the_oftmentioned_seed/

A nice table for entropy requirements:

The purpose of the Trezor PIN is to delay the thief and give you enough time to restore the seed to another device and transfer your coins to another wallet. A simple 8-digit PIN is more than adequate for this purpose. Even a 4-digit PIN will likely delay a thief for sufficient time, considering that a Trezor delays retries by a time window that increases by a factor of a power of 2 after each failed attempt.

...

I'm afraid, your explanation is outdated and gives a false sense of security.

The delay you mention won't really work anymore, since said Trezor's vulnerability was detected.
A thief with standard equipment can extract the encrypted seed from the Trezor's chip within minutes and can decrypt it with the usual brute force.

So with your 8 digits PIN your seed can be known within 15 minutes. Good luck detecting the theft and moving your funds before the thief starts that process.

So with Trezor please use a proper 128 bits PIN. If you don't, you should have a proper 128 bits passphrase.



Edit
just recognized Lucius beat me to it:
https://bitcointalk.org/index.php?topic=178336.650480

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Gachapin]

Wallet management should be a #1 topic when entering crypto. Too many people have no idea who they give their coins to.

I strongly recommend avoiding wallets. I keep all my coins in cold storage addresses.

I only use a wallet (Mycelium or Coinami)to facilitate transfers. I never leave anything in a wallet for longer than it takes for the transactions to be confirmed by the network.

I absolutely never allow my coins to be in anyone else's possession... no online exchanges, etc. When I buy or receive coins, it's always straight into cold storage addresses I created on an internet incapable computer and printer. When I sell, it's face-to-face for cash on the spot.

may I ask where you get the entropy for your seed/private key from? Do you use dices ?