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

[bitserve]

As a permahodl I am no bear

I am just surprised how little movement MicroStrategies mayor buys have created.
Especially considering how bullish my media feeds have become.

Is he overdoing it? Is he overdoing it with his infinite money glitch? I mean I have no love for the dollar or any other big print item but somewhere there is a real work based economy and it helps to remain on a good understanding with it.

Well, i guess he's not buying Spot but OTC or directly from miners?
In the long run, it doesn't matter that much, because buying OTC in masses means thinning out future supply on the spot market.
The movement will take place, but delayed.

I sort of have an opposite take.  MicroStrategy buying is a major part of the reason we were able to break $100,000 in the first place.  I would say the market is becoming addicted to his money and when he is done tossing it at the all time highs, the market struggles to sustain itself organically.  This could all change at the drop of a hat if game theory kicks off or the US establishes a Strategic Bitcoin Reserve, but for now I would say we are overvalued for what the demand for Bitcoin is currently, but undervalued for what is headed our way.  That smells like short term pain to me, but we'll see.

^THIS^

... And happy XMAS my fellow hodlers!

[JayJuanGee]

AFA losing access to your trezor, it doesn't matter, if you lose access to any wallet move your coins immediately!

You seem to be suggesting that it does not matter if the Trezor has a secure element or not?

If you lose physical possession of your trezor, then the coins should be moved?

I always considered the standard wallet (the one without a passphrase) to be a canary in the coalmine, if it were to get jeopardized first.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[bitserve]

The dude arrived on his celebrating BTC and new years destination

Were is it … merit boost worthy for the correct location

Thank you BTC

Calçada Portuguesa... so... Lisbon? Rio? No fucking idea, lol... but surely a nice place to welcome the new year. Cheers!!

[Hueristic]

AFA losing access to your trezor, it doesn't matter, if you lose access to any wallet move your coins immediately!

You seem to be suggesting that it does not matter if the Trezor has a secure element or not?

If you lose physical possession of your trezor, then the coins should be moved?

I always considered the standard wallet (the one without a passphrase) to be a canary in the coalmine, if it were to get jeopardized first.

You want to gamble with your coins? 

I don't think that's a very bright idea.

I don't care what anyone says if you lose possession no matter how "protected" you think your seed is you would be playing with fire not to move them.

[philipma1957]

AFA losing access to your trezor, it doesn't matter, if you lose access to any wallet move your coins immediately!

You seem to be suggesting that it does not matter if the Trezor has a secure element or not?

If you lose physical possession of your trezor, then the coins should be moved?

I always considered the standard wallet (the one without a passphrase) to be a canary in the coalmine, if it were to get jeopardized first.

You want to gamble with your coins? 

I don't think that's a very bright idea.

I don't care what anyone says if you lose possession no matter how "protected" you think your seed is you would be playing with fire not to move them.

yeah you move them.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[d_eddie]

...for ants, as some dude or a football maniac could say...

I think it was Bawb who started the "for ants" thing.

(Trusting your records)
... or some unlikely farmer
(That's duly noted)




#haiku

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[xhomerx10]

The dude arrived on his celebrating BTC and new years destination

Were is it … merit boost worthy for the correct location

Thank you BTC

Calçada Portuguesa... so... Lisbon? Rio? No fucking idea, lol... but surely a nice place to welcome the new year. Cheers!!

 Gotta be Rio - Copacabana, Avenida Atlantica but not the beach side because it has funkier looking sidewalks.
Trying to be more precise but I'm having trouble finding the exact spot.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[hisslyness]

The dude arrived on his celebrating BTC and new years destination

Were is it … merit boost worthy for the correct location

Thank you BTC

Calçada Portuguesa... so... Lisbon? Rio? No fucking idea, lol... but surely a nice place to welcome the new year. Cheers!!

 Gotta be Rio - Copacabana, Avenida Atlantica but not the beach side because it has funkier looking sidewalks.
Trying to be more precise but I'm having trouble finding the exact spot.

I love to play, but unfortunately I know where the dude is, and how I know is unfair to everyone else!… look closely and you will find him and the GF!

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Gachapin]

....At the same time, I would suggest that you are wrong in regards to your description of the vulnerability being ameliorated by having a stronger pin number, which I believe hardly does shit if someone has  physical access to the device with a non-secure element.  
....

no no JJG .... The PIN is used to encrypt the seed on your device. A strong (long) PIN cannot be cracked via brute force, so it's not possible to decrypt your seed when someone gets hold of your device.
That's why Trezor enabled PINs with 50 digit length (maybe longer), when they fixed the vulnerability of physical access a few years ago.  

Means, if your PIN is long enough (has enough entropy) nobody can get the seed out of your device.
No (un)secure element needed !

I recall that the security breach of having physical access to the Trezor was from several years ago, and I thought that the ONLY remedies was avoiding physical access to the Trezor and/or having a passphrase, as is stated in this Kraken Blog article.  The Article describes brute forcing the pin too, yet I cannot recall the pin being less vulnerable based on length and complication, even though what you say makes sense if they have to brute-force the pin, too.

Until I see something more clear, I will have to take what you are saying about the creation of a more robust pin (as the solution to the problem) with a grain of salt.

haha no need to trust me.... that the PIN protects your Trezor against physical attacks by encrypting the seed is written in the adtual article you posted yourself...  

We then crack the encrypted seed, which is protected by a 1-9 digit PIN, but is trivial to brute force.

https://blog.kraken.com/product/security/kraken-identifies-critical-flaw-in-trezor-hardware-wallets

Again, that's why Trezor upped the possible PIN length to 50 digits (166 Bits), so there is no possibility to brute force anymore.

[Gachapin]

plications to potentially lock us out of our coins, too..

just to pile on, these are ones ive owned
used Trezor One since they came out   -  no probs (but hardware itself can be compromised if someone has physical access to it and the equipment)
use Trezor T since they came out    -  no probs
used Ledger - FUCK NO   nothing but risk here. stay away

afaik, that's not true anymore. It depends all on the lengths of your PIN

If a bad person (who knows something or knows someone who knows something), they can get you private keys (or your seed words) in a matter of 15 minutes (or something like that), so they can get anything on your non-passphrase wallet, and your pin doesn't do anything.  But they cannot get you passphrase wallets unless they are able to guess them or brute-force them.

yeah, but we talked about the attack vector of physical access to the device.. (with regard to secure elements)

A passphrase should always be used, secure element or not

I understand that the passphrase provides an extra layer of security, yet it seems that the passphrase is way more justified with a non-secure element device.  I have not heard about the seed phrase being extracted from secure element kinds of devices, whether Trezor or otherwise... yet I also don't claim to be a technical guru or to follow security vulnerabilities in details if it is not coming out in some kind of more generally release kind of way or being mentioned in one of the forum threads.

Sure, you cannot extract the seed from an SE. But the company that builds the SE can.
Why should I trust some centralized entity when there is no need for it?


With a non-SE device:

PIN protects the device.
Passphrase protects the seed.
In that order.

Of course you can use the passphrase for protecting the device while having a weak PIN.

But why weaken the security? And you also open up the possibility that someone can move your coins if he solely has the passphrase and gets hold of your device (because it's protected by a weak PIN)

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Ambatman]

https://www.reuters.com/markets/currencies/russia-is-using-bitcoin-foreign-trade-finance-minister-says-2024-12-25/

Bitcoin already used for foreign trade in Russian Now and with what's stated in the post.
Putin is pushing for Bitcoin as reserve because it's not own by anyone and would affect US dominance

I believe the De dollarization team would find it attractive once Russian incorporates it
But Trump that wants US dollar to remain the greatest?  quite skeptical except he makes sure US does it first before other giants implement it.
So they can enjoy the same sham with Gold as reserve then.

2025 Super Bullish.

[AlcoHoDL]

AFA losing access to your trezor, it doesn't matter, if you lose access to any wallet move your coins immediately!

You seem to be suggesting that it does not matter if the Trezor has a secure element or not?

If you lose physical possession of your trezor, then the coins should be moved?

I always considered the standard wallet (the one without a passphrase) to be a canary in the coalmine, if it were to get jeopardized first.

The idea is that, once you realize your Trezor (or other wallet) is gone, you use your seed backup to restore it (on a new Trezor or other device) and then immediately move your Bitcoin to a completely new wallet (with a brand new seed). Even if your stolen Trezor's PIN is not too strong, it should be strong enough to withstand a few hours or days of brute-force, so by the time the thief has cracked your PIN, your (old, stolen) wallet will be empty.

Of course, if you haven't used (3) and/or (4) below, the thief will still know that you have emptied the wallet, when you emptied it, and the amount of Bitcoin moved, so be prepared for a $5 wrench attack soon after...

My advice:

1. Keep a low profile -- don't advertise your coins.
2. Always use a PIN.
3. Always use a strong passphrase.
4. Plausible Deniability (it's easier than it seems).
5. Protect your Trezor (or other wallet) as if it were cash -- never lose physical access to it.

[fillippone]

The dude arrived on his celebrating BTC and new years destination

Were is it … merit boost worthy for the correct location

Thank you BTC

Rio de Janeiro, Copacabana, Avenida Atlantica somewhere.
 Rainy weather confirmed and ruled out other locations.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com