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

[OutOfMemory]

Thanks for the suggestions and valuations on the ledger story  

Now, i had a few accounts (wallets) with relatively minor shitcoin balances on it as well. According to the ledger docs, i will have to restore all balances on the new device using the old seed, send all tokens to intermediate exchange or local client wallets, reset the new device, set it up as new, reinstall the bitcoin app and transfer Bitcoin from sold shitcoins (exchange wallet) and recovered Bitcoin (local client) to it.

Yep, seems i got some extra things to do  

Don't use the ledger generated seed, I highly doubt their random number generator is actually random, true randomness is very hard to achieve. Create your own with dice then send all you coins to the addresses from that new seed directly from you old restored seed. Then wipe the device and restore with your new seed. No intermediates required and more secure. Or maybe I'm just over the top.

The real problem here is: There are three accounts on the (old) ledger. BTC, shitcoin1 from chain split, and shitcoin2. To send these anywhere, i have to restore the ledger in the first place. Then i can wipe/initialize it again. Now, i wouldn't call myself a Bitcoin maxi, if i would hold the shitcoins for longer, i just didn't feel the urge to sell them for BTC yet. These are small balances, too.

Of course, you could buy two ledgers, and/or other kinds of wallets.. and sure the extent to which various shitcoins are supported will vary from device to device... or even kinds of wallets, if you might want to move some kinds of coins to a temporary location until you set up your new device (presumptively your sticking with ledger.. sorry for your loss.. again - meaning the fact that you use ledger)

I am not that stubborn, i try to be open as well. What's your preferred ways?
I have nothing against wallet.dat filse but i think storage of them is not ideal, and the ledger and almost any hw wallet has a slight disadvantage (because not connected to the internet, for example).

EDIT: After thinking a little about it, using a seedword list (carved or laser-cut in hard wood or metal, because it's done offline and i got the machinery) as cold wallet, and the ledger as hot wallet should do it. Perhaps?

Uptober they said.. was another false narrative from bulltards.

DOWNtober would be more applicable.

It's not over yet.


Furthermore, it is also not good to get too caught up upon what others are saying, or short-term moves that happen from time to time.. including that we have had both UP and DOWN in October, so far, which even if there exists a slight inclination towards DOWN, so far, we are ONLY 11 or 12 days into the month... so not even half way. .and which way is it going to break?  Are we going to revisit $25k?  Then maybe I might start to become a bit pessimistic.. otherwise, I seem to just be seeing a lot of noise..

or is it just me?

No, it's not. At least for my part, once i stopped listening to the noise i stopped losing sats/money.
The old "zoom out" always helped in times of doubt.

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[OgNasty]

Looks like we are seeing a plunge in price. A bit delayed in my opinion but I guess people were unsure how to react to the latest war situation. Looking at the charts it does seem like there should be one more massive drop before the rocket launches to the moon, so if I were a trader I’d be watching for a big buying opportunity and getting ready to go all in.

[JayJuanGee]

Thanks for the suggestions and valuations on the ledger story  

Now, i had a few accounts (wallets) with relatively minor shitcoin balances on it as well. According to the ledger docs, i will have to restore all balances on the new device using the old seed, send all tokens to intermediate exchange or local client wallets, reset the new device, set it up as new, reinstall the bitcoin app and transfer Bitcoin from sold shitcoins (exchange wallet) and recovered Bitcoin (local client) to it.

Yep, seems i got some extra things to do  

Don't use the ledger generated seed, I highly doubt their random number generator is actually random, true randomness is very hard to achieve. Create your own with dice then send all you coins to the addresses from that new seed directly from you old restored seed. Then wipe the device and restore with your new seed. No intermediates required and more secure. Or maybe I'm just over the top.

The real problem here is: There are three accounts on the (old) ledger. BTC, shitcoin1 from chain split, and shitcoin2. To send these anywhere, i have to restore the ledger in the first place. Then i can wipe/initialize it again. Now, i wouldn't call myself a Bitcoin maxi, if i would hold the shitcoins for longer, i just didn't feel the urge to sell them for BTC yet. These are small balances, too.

I doubt that it is necessarily wise to sell your shitcoins at any time other than a time in which you would like to sell them, and with any investment (or gamble) you should be ready, willing and/or able to ride out the rougher periods, and surely sometimes shitcoins are going to go down and never really come back, but that does not even necessarily mean you should sell them at a time that is anything other than your own choosing.

Some shitcoins that I have, I could give or take, but really it seems that I have not really done much of anything with the overwhelming majority of them since around 2017/2018.. except for every once in a while something will come up with one or more of them, such as getting delisted or something like that and then I have to make a choice if I am going to move it or sell it or even figure out some other way of storing it, if it had been on an exchange or maybe something happens with the wallet.. I had one wallet that kept fucking up recognizing one of my shitcoins, so I ended up figuring out how to move it to another wallet.. that took me a month or two to accomplish with various scattered research and experiment and thinking about what I wanted to do.. and questioning whether it was worth it to just keep it for funzies... even though it probably is around less than 0.1% of my BTC value or my "crypto" portfolio.


You could just leave your various shitcoins on that old seed, too... and in that way, if you ever wanted to access the shitcoins, you would just restore your old seed onto your ledger.. which would be wiping your new seed, reinstall your old seed, do whatever transactions you want to do with your shitcoins, and then reinstalling your new seed.. to the extent that you did not follow the earlier suggestion of just buying more than one ledger.. so in some sense I personally believe that it is is better to have aa few different hardware wallets around... even if some of them might cost a bit of money... but if you can buy some expensive spectacles to capture dee neanderlands in dee skies, you likely could afford an extra hardware wallet or two.. and presuming that you have more than 0.00419312 BTC that you are securing.  #nohomo

Of course, you could buy two ledgers, and/or other kinds of wallets.. and sure the extent to which various shitcoins are supported will vary from device to device... or even kinds of wallets, if you might want to move some kinds of coins to a temporary location until you set up your new device (presumptively your sticking with ledger.. sorry for your loss.. again - meaning the fact that you use ledger)

I am not that stubborn, i try to be open as well. What's your preferred ways?

I personally like Trezor.. but people who are informed about bitcoin say good things about other wallets such as passport, coldcard, jade. and maybe a few others.

I have nothing against wallet.dat filse but i think storage of them is not ideal, and the ledger and almost any hw wallet has a slight disadvantage (because not connected to the internet, for example).

I have always been a bit skeptical of ledger and also the secure element being closed source, and then some of their drama coming out in the past 6 months or so they largely admitted that people are putting a lot of trust in them with the secure element.. and they are really supporting a lot of shitcoins.. sure Trezor supports some shitcoins too.. but you can set it up as bitcoin only.. I also found ledger to be quite finicky.. and have some lack of user friendliness.. including that I had one that I bricked and spent a lot of time fucking around with it causing me resentment over its lack of user-friendliness, and sure maybe they have improved, but I don't like having had those experiences.

EDIT: After thinking a little about it, using a seedword list (carved or laser-cut in hard wood or metal, because it's done offline and i got the machinery) as cold wallet, and the ledger as hot wallet should do it. Perhaps?

The backing up of your seed and the ways of interacting with your coins are different.. and sure, I don't claim to be any kind of expert in the various possibilities, so maybe I should get off my high horse in terms of your earlier choice of ledger.

Uptober they said.. was another false narrative from bulltards.
DOWNtober would be more applicable.

It's not over yet.

Furthermore, it is also not good to get too caught up upon what others are saying, or short-term moves that happen from time to time.. including that we have had both UP and DOWN in October, so far, which even if there exists a slight inclination towards DOWN, so far, we are ONLY 11 or 12 days into the month... so not even half way. .and which way is it going to break?  Are we going to revisit $25k?  Then maybe I might start to become a bit pessimistic.. otherwise, I seem to just be seeing a lot of noise..

or is it just me?

No, it's not. At least for my part, once i stopped listening to the noise i stopped losing sats/money.
The old "zoom out" always helped in times of doubt.

My thinking has always been to buy on the way down.. (if it were to happen to happen) rather than getting depressed (or worked up) about it... sure sometimes the amount of down does cause me to get even more nervous than usual, especially when I am running out of money to buy more, which does happen from time to time, so surely I can relate to being bothered by extremes.. yet I cannot relate as much merely by frustration that the BTC price is not going up as fast as we wished it would.. especially we have been here a while.. and then also from newbies who should be taking advantage of dips.. and yeah sure Paashaas is not a newbie, even though some of his latest posts have been coming off as if he has been making some bad gambling moves with his bitcoin stash.,, whatever it might be.

[sirazimuth]

..... Or maybe I'm just over the top.

Like every OG on this thread including myself.

I have been playing this bitcoin thing since 2013.(2011, if I include my failed attempt to buy several coins but gave up, thinking "ahhh fuck it!, its just another internet scam anyway")
And I've done very well, thank you.
Albeit, I only got into it because mining free money. Not over ideology.
My goodness... the weird things I learned going down the bitcoin rabbit hole.

Hi Buddy...

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[DaRude]

Looks like we are seeing a plunge in price. A bit delayed in my opinion but I guess people were unsure how to react to the latest war situation. Looking at the charts it does seem like there should be one more massive drop before the rocket launches to the moon, so if I were a trader I’d be watching for a big buying opportunity and getting ready to go all in.

The irony in this is that the more the BTC rises the more it will decouple, become a hedge, and a way for capital flight, the more likely the governments will transition into the fight stage, meaning regulations, negative coverage, and no ETF. I'm not sure if ETF is net positive for BTC in the long run, but the fight stage will be easier if it starts after the ETF is approved. I think short term it's best for BTC to be considered as just another risk-on asset where it'll have a miserable winter, so it's not yet considered a threat and ETF is approved, which will be a trigger for the decoupling right before the halving. Long term, non of this really matters, it's already inevitable.

[JayJuanGee]

..... Or maybe I'm just over the top.

Like every OG on this thread including myself.

I have been playing this bitcoin thing since 2013. And I've done very well, thank you.
Albeit, I only got into it because mining free money. Not over ideology.
My goodness... the weird things I learned going down the bitcoin rabbit hole.

For sure there are a variety of ways that people start, and likely the more time we spend learning about bitcoin, we figure out a few things about it.... not that I had ever gotten into mining.. so I am having to sometimes see what others are saying about it and surely we can still look at some of the mining metrics too..and become amazed.. oh including that some of the new ways that bitcoin is being discussed and analyzed did not really exist in 2013/2014..

.....and so I don't really claim to be much of a 2013 bitcoin person since I started to study bitcoin in November 2013 and to make my plans around bitcoin and to start to buy some bitcoin at that time.. but it takes a bit of time, to try to learn - even though some of my basics still stuck from 2013, while I probably just continued to absorb little things here and there along the way and through the years.. similar to you, but at the same time different from you..

since we have different personalities, areas of interest, probably different ways of investing into bitcoin (and other assets) and other various different individual factors, too.. and so surely part of the benefits of this forum is to run a few of our stories past each other from time to time.... almost 10 years of bitcoin for me.. .. life before bitcoin and life after getting into bitcoin.

[LFC_Bitcoin]

almost 10 years of bitcoin for me.. .. life before bitcoin and life after getting into bitcoin.

My 10 year anniversary in bitcoin is in May 2024. Hopefully we have an approved spot ETF by then & an ATH maybe.

I was a fresh faced mid 20’s noob back then. I have done very well from bitcoin but my God, it ages you.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Richy_T]

Grrrrr. Fuck 26

Not sure on ChartBuddy. Probably a change at the exchange.

[Richy_T]

Hmm. Bad subnets again. I need to be more circumpsect in dropping the class-As.

[Paashaas]

almost 10 years of bitcoin for me.. .. life before bitcoin and life after getting into bitcoin.

My 10 year anniversary in bitcoin is in May 2024. Hopefully we have an approved spot ETF by then & an ATH maybe.

I was a fresh faced mid 20’s noob back then. I have done very well from bitcoin but my God, it ages you.

10 year next month... 10 years! and without a doubt many more years to come all the way to $100.000 --> $1.000.000 --> $10.000.000.. lol. It was a belligerent journey to endure for all of us reaping the benefits well deserved.

[shahzadafzal]

Explanation
Chartbuddy thanks talkimg.com

In the loving memory of Mt. Gox. .... love you buddy.

Grrrrr. Fuck 26

How many times? I mean how many times do we need to do that? This is 10th time in this year alone :p

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Hueristic]

Explanation
Chartbuddy thanks talkimg.com

I'm thinking this is an error message if the api is blocked.

Pretty funny easter egg.

[seek3r]

still occupied in meatspace.  just wanted to say 'hellaw.. and love you all'  ... even the trolls... or.. maybe not


also... great news:  Cramer is bearish on Bitcoin !

https://twitter.com/BTC_Archive/status/1711841625431789762

One reason more to get some corn lol..

All I have to say bout Jim Cramer is this

[Hamza2424]

almost 10 years of bitcoin for me.. .. life before bitcoin and life after getting into bitcoin.

My 10 year anniversary in bitcoin is in May 2024. Hopefully we have an approved spot ETF by then & an ATH maybe.

I was a fresh faced mid 20’s noob back then. I have done very well from bitcoin but my God, it ages you.

Haha weird, but my birthday falls in May, and the surprise or gift you're considering could very well be the most remarkable birthday present. Speaking of gifts, there's a promising prospect on the horizon – the approval of a Bitcoin ETF by April 2024. This will mark my fourth year of being involved with Bitcoin, which, in its own right, feels like being an early adopter. But regardless, I can't wait to see what the future holds! for me & BTCitcoiner

In the loving memory of Mt. Gox. .... love you buddy.

yep.. Got it

[Hamza2424]

Explanation
Chartbuddy thanks talkimg.com

Cant be ignored it might be indicating this ....
API found it.. 

If you've not been following the FTX trial, you really should, because the level of fraud on display is enough to even rival that of CSW. Here are two snippets of code (pictures courtesy of https://nitter.cz/molly0xFFF) which have been submitted as evidence in the trial. This code is regarding FTX's insurance fund which was widely publicized:

   

The first picture above shows how the value of 5,250,000 FTX Token supposedly in the insurance fund was "calculated". It wasn't. It was just coded in. insuranceFund.size = 5250000 FTT.

The second picture above shows how the value of USD in the insurance fund was "calculated". The daily trading volume on FTX was multiplied by a random number, and this was used to adjust the insurance fund to a new size.

This is the kind of bullshit centralized exchanges are using in their "proof of reserves", "safu funds", "insurance funds", "collateral funds", "1-to-1 matching reports", and all the other trash they peddle to convince you your funds are totally safe. Literal random number generators. They will do and say anything to get you to hand over your coins to them. Don't fall it.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com