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

[Gachapin]

You don't need a wallet to generate addresses. I generate mine offline on a computer that cannot be connected to the internet (no wifi, no network cable). I print co-called paper "wallets" on a printer that has never had internet access.
~
When I sweep an address into a wallet program, I transfer the bitcoins as quickly as possible to the intended recipient and then put the remainder back into secure cold storage.

I think your sweeping system can be improved: instead of doing it "as quickly as possible", why don't you sign offline? There's no need to expose the private key to an online system (other than for convenience for small daily expenses).

I'm thinking of this (and you already have the offline computer so you can skip some of the steps):

Online:
Install Electrum on your PC.
Import your address to create a watch-only wallet.
Preview the transaction, Copy the unsigned transaction. Put it on a USB stick.

Offline and running without hard drive storage:
Get a Linux LIVE DVD. Use Knoppix or Tails for instance, or any other distribution that comes with Electrum pre-installed.
Unplug your internet cable. Close the curtains. Reboot your computer and start up from that DVD. Don't enter any wireless connection password. Keep it offline.
Start Electrum. Import your private key.
Copy your unsigned transaction from the USB stick, load it into Electrum.
CHECK the transaction in Electrum. Check the fees, check the amount, check all destination addresses (character by character).
If all is okay, sign the transaction. Copy it back to your USB stick.
Turn off the computer. That wipes the Live LINUX from memory and all traces are gone.

Online:
Use your normal online Electrum to (check again and) broadcast the transaction.

vital info ... worth my last merit

[1714302030]

1714302030

[Gachapin]

Oh yes, Sunday now
Weekend dump before the pump
Healthy correction

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Odohu]

Oh yes, Sunday now
Weekend dump before the pump
Healthy correction

BTC is really for the strong hearted... and those who look at it from macro-level.

Just when we are all enthralled with the enthusiasm of $100k price, it is already heading north not because it is the right direction at this time but just to prove that no one can accurately predict its movement. The best we can do while it decides what it wants to do. Anyways, 1BTC = 1BTC, and you only lose when you sell.

[vokain]

The index is still showing levels at "extreme greed", can we expect a reversal to $70,000 in the next few days?

I think we migbt see <$60k before we see $70k.

https://twitter.com/0xhedge32/status/1768208346329366869?s=12&t=GOxgUHAih5V6rQN5toiPJQ

[Biodom]

The index is still showing levels at "extreme greed", can we expect a reversal to $70,000 in the next few days?

I think we migbt see <$60k before we see $70k.

https://twitter.com/0xhedge32/status/1768208346329366869?s=12&t=GOxgUHAih5V6rQN5toiPJQ

We all saw this one gazillion times already.
The twitter "guy" doesn't even say where we are at in his opinion.
I would say, maybe "optimism", but according to all social metrics we are nowhere close to the "mania/thrill" yet.
79 is a lagging indicator too. We are not more than 70 rn, after a few days of declines.

[JimboToronto]

You don't need a wallet to generate addresses. I generate mine offline on a computer that cannot be connected to the internet (no wifi, no network cable). I print co-called paper "wallets" on a printer that has never had internet access.
~
When I sweep an address into a wallet program, I transfer the bitcoins as quickly as possible to the intended recipient and then put the remainder back into secure cold storage.

I think your sweeping system can be improved: instead of doing it "as quickly as possible", why don't you sign offline? There's no need to expose the private key to an online system (other than for convenience for small daily expenses).

I'm thinking of this (and you already have the offline computer so you can skip some of the steps):

Online:
Install Electrum on your PC.
Import your address to create a watch-only wallet.
Preview the transaction, Copy the unsigned transaction. Put it on a USB stick.

Offline and running without hard drive storage:
Get a Linux LIVE DVD. Use Knoppix or Tails for instance, or any other distribution that comes with Electrum pre-installed.
Unplug your internet cable. Close the curtains. Reboot your computer and start up from that DVD. Don't enter any wireless connection password. Keep it offline.
Start Electrum. Import your private key.
Copy your unsigned transaction from the USB stick, load it into Electrum.
CHECK the transaction in Electrum. Check the fees, check the amount, check all destination addresses (character by character).
If all is okay, sign the transaction. Copy it back to your USB stick.
Turn off the computer. That wipes the Live LINUX from memory and all traces are gone.

Online:
Use your normal online Electrum to (check again and) broadcast the transaction.

Improved? Sounds like a lot of unnecessary steps when simply sweeping the private key into a wallet (I usually use Mycelium) and then putting the leftovers into new addresses is so much simpler and faster.

Why complicate things?

[Biodom]

You don't need a wallet to generate addresses. I generate mine offline on a computer that cannot be connected to the internet (no wifi, no network cable). I print co-called paper "wallets" on a printer that has never had internet access.
~
When I sweep an address into a wallet program, I transfer the bitcoins as quickly as possible to the intended recipient and then put the remainder back into secure cold storage.

I think your sweeping system can be improved: instead of doing it "as quickly as possible", why don't you sign offline? There's no need to expose the private key to an online system (other than for convenience for small daily expenses).

I'm thinking of this (and you already have the offline computer so you can skip some of the steps):

Online:
Install Electrum on your PC.
Import your address to create a watch-only wallet.
Preview the transaction, Copy the unsigned transaction. Put it on a USB stick.

Offline and running without hard drive storage:
Get a Linux LIVE DVD. Use Knoppix or Tails for instance, or any other distribution that comes with Electrum pre-installed.
Unplug your internet cable. Close the curtains. Reboot your computer and start up from that DVD. Don't enter any wireless connection password. Keep it offline.
Start Electrum. Import your private key.
Copy your unsigned transaction from the USB stick, load it into Electrum.
CHECK the transaction in Electrum. Check the fees, check the amount, check all destination addresses (character by character).
If all is okay, sign the transaction. Copy it back to your USB stick.
Turn off the computer. That wipes the Live LINUX from memory and all traces are gone.

Online:
Use your normal online Electrum to (check again and) broadcast the transaction.

Improved? Sounds like a lot of unnecessary steps when simply sweeping the private key into a wallet (I usually use Mycelium) and then putting the leftovers into new addresses is so much simpler and faster.

Why complicate things?

It's a safer method. Your PC could have been hacked and, thereby, your Mycelium could have been affected.
How often this happens-maybe infrequently, but the internet is filled with stories of hacked accounts, albeit these stories are mostly on a s-tcoin side where they have "contracts" to worry about; bitcoin (so far) has been much more straightforward.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[tertius993]

The index is still showing levels at "extreme greed", can we expect a reversal to $70,000 in the next few days?

I think we migbt see <$60k before we see $70k.

https://twitter.com/0xhedge32/status/1768208346329366869?s=12&t=GOxgUHAih5V6rQN5toiPJQ

We all saw this one gazillion times already.
The twitter "guy" doesn't even say where we are at in his opinion.
I would say, maybe "optimism", but according to all social metrics we are nowhere close to the "mania/thrill" yet.
79 is a lagging indicator too. We are not more than 70 rn, after a few days of declines.

As long as its not "Complacency" ...

[Neobanks]

Believe it or not, this kind of "more solid dump" is good for the price in the long (in this cycle) term. As much fun as a continuous ATH is, the reality is that price overheating "too much too fast" usually ends bad.

This is -perfectly- FINE.

Yes. This is the market’s way of making sure that nobody gets a free ride. Too many people see the price going up and dump in some money with ridiculous leverage trying to become overnight millionaires. That isn’t fair for the rest of us who have stacked for years, so the market wipes out all leverage any chance it gets. This is just so longtime Bitcoiners don’t have their lunch eaten by fly by night gamblers posing as investors.

I think your opinion is very commendable because some people always want to follow shortcut to ascertain certain leverages without observing the actual procedures and prerequisite. Bitcoin investment is a longtime investment that require commitment and dedication to grow. It's not for some opportunist that are just looking for chance to hit their target and stay aside while others have making reasonable effort to grow their investment.

[philipma1957]

The index is still showing levels at "extreme greed", can we expect a reversal to $70,000 in the next few days?

I think we migbt see <$60k before we see $70k.

https://twitter.com/0xhedge32/status/1768208346329366869?s=12&t=GOxgUHAih5V6rQN5toiPJQ

We all saw this one gazillion times already.
The twitter "guy" doesn't even say where we are at in his opinion.
I would say, maybe "optimism", but according to all social metrics we are nowhere close to the "mania/thrill" yet.
79 is a lagging indicator too. We are not more than 70 rn, after a few days of declines.

well showing this now

Is either mad genius and we are all fucked or very premature and just for weak hands.


I personally shaved some off at  70k and 73k so I can hodl quite a bit longer.

[JimboToronto]

Improved? Sounds like a lot of unnecessary steps when simply sweeping the private key into a wallet (I usually use Mycelium) and then putting the leftovers into new addresses is so much simpler and faster.

Why complicate things?

It's a safer method. Your PC could have been hacked and, thereby, your Mycelium could have been affected.
How often this happens-maybe infrequently, but the internet is filled with stories of hacked accounts, albeit these stories are mostly on a s-tcoin side where they have "contracts" to worry about; bitcoin (so far) has been much more straightforward.

I have Mycelium on an Android device that has never been rooted so the chances of it having been hacked are pretty slim. Also I try to never leave anything in Mycelium for longer than it take for one confirmation.

I don't really trust any wallet.

[JayJuanGee]

It's fun to see the bears come out on the weekend and try to be cute only to go back in hiding come Monday. Pathetic.

I don’t think the bears came out as much as Saylor’s billion dollar buy sent it upwards previously. I fear he may have already made his $500,000,000 buy as well since he did his last one over the weekend. Monday could be a bloodbath as a result, but it’s probably important to get BTC out of the weak hands that purchased just for quick gains because it was rising.

You mean that other BIG players are going to dump on Saylor just to attempt to "teach him a lesson?"

I have my doubts on that kind of theory, especially since it is likely the case that the ETF providers are still onboarding newbies, so they don't really have any incentive to allow the BTC price to dip too muchedly.

So perhaps Jaime Diamond and some of his buddies are going to be the losers in this if they are actually continuing to bet against bitcoin in any more than mere rhetorical ways.  In other words, if Jaime Diamond and the other bitcoin haters actually put their money where there mouth is and they bet against bitcoin, they are likely going to be the ones who actually get reckt in meaningful ways, so I am not sure if they are really willing to play that card and to bet against bitcoin, especially when it is in the midst of no man's land and also with other current circumstances that are ongoingly causing UPpity price dynamics (and perhaps momentum?)  on dee cornz.

[edited out]

I agree with what you're saying, and you are describing my situation quite accurately. The thing is, I have reached a stage where I have enough BTC (even though the amount may be considered quite low for many WOers' standards) that I don't feel I need to buy more, and I also have enough fiat to use for everyday expenses and to sustain a good lifestyle. And new fiat keeps coming in every month. So, why should I shave off from my BTC stash?

Ok.  that all makes sense.  You are in that kind of limbo part of your bitcoin journey in which you mostly have enough.

Yet, I still feel a psychological need to shave off small amounts (a few thousand dollars every now and then), just to enjoy using them for the fun of it. Buying things, traveling, doing fun stuff. And yes, I do feel I still have plenty left, even to the point of not being able to live long enough to really spend them all. It's a strange feeling actually, when you consider that I don't generally have the need to buy luxury stuff. I drive a Toyota and really love it.

The Lexus is the luxury version of the Toyota..

I would not go near a Ferrari or Lambo, even if you gifted it to me. Having said that, there are many very expensive things that I'd like to own, that would not appeal to most people.

I don't think there's anything wrong with Saylor. His material needs are satisfied many lifetimes over, with his fiat inflows. His Bitcoin stash may be serving a higher purpose for him. Perhaps, he envisions a time when Bitcoin will give him absolute control and dominance over things that go beyond personal material needs. Come to think of it, this last part doesn't sound very healthy to me, but being a multi-billionaire, and fueled by the very realistic, even near-certain prospect of Bitcoin's multi-magnitude price appreciation, can elevate one's grandiosity to extreme levels. So, maybe you're right in that there is something "wrong" with him. He seems very likable when he talks, and it's fun to read about his BTC purchases. Those laser eyes... Looking forward to putting mine back on when price surpasses $100k.

He does seem likable, and it could be that he is just battling with guys like Jaime Diamond.

BTW, my take on "we" is that, deep down, it's always royal...

Maybe I can stop specifying then?  When using it (we), frequently it just seems a bit ambiguous.

The index is still showing levels at "extreme greed", can we expect a reversal to $70,000 in the next few days?

Yes.

The index is still showing levels at "extreme greed", can we expect a reversal to $70,000 in the next few days?

I think we migbt see <$60k before we see $70k.

Whoaza!!!  That surely comes off as bettable.

we haven't even reached the 2021 ATH when corrected for inflation.  plenty of upside left

we even don't have weekly candle above previous ATH.. maybe need some correction/consolidations before really pass it.

Sounds like very wishful thinking to this here cat... which just seems like a way to lose money by either selling too many cornz too soon or failing/refusing to buy enough to prepare ur lil selfie for UPpity.

[Pandorak]

I think we migbt see <$60k before we see $70k.

I don't think so, even now the market is still showing a positive trend on bitcoin. dumping back to $61,000 - 63,000 is still reasonable, but i'm not sure about going below $60,000.

Where do you think we are now? complacency or anxiety?

The index is still showing levels at "extreme greed", can we expect a reversal to $70,000 in the next few days?

Yes.

As we expect, hopefully before the halving happens we can touch $100,000 for the first time, LFG!

[Biodom]

I drive a Toyota and really love it. I would not go near a Ferrari or Lambo, even if you gifted it to me.

No vroom-vroom for you?
I am perfectly fine to drive that (and had Camry before, when it was a car almost 1/3 bigger), but a "muscular car" could be a lot of fun.
That said, I enjoy my beemer, but now thinking of buying MX-5 for giggles (will try it soon).
It's low and sporty...it is not Ferrari or McLaren GT..maybe I should learn to drive a "stick" first, though, albeit at least one MX-5 model is auto.

[Biodom]

I think we migbt see <$60k before we see $70k.

I don't think so, even now the market is still showing a positive trend on bitcoin. dumping back to $61,000 - 63,000 is still reasonable, but i'm not sure about going below $60,000.

Where do you think we are now? complacency or anxiety?

Neither....we are at "optimism" or "belief", imho.
See those wicks down in "belief"? That's where we are at.
These are long scale charts, not weeklies, lol.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com