Explanation
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 5304. (Read 26710179 times)
June 19, 2021, 11:01:25 AM
June 19, 2021, 10:20:23 AM
Thanks, really useful.
I tried "Wallet of Satoshi" for fun, do you know if the lightning receive address generated each time expire after a while? Since you have no control over channels, would be interesting to know.
EDIT:
This was more fun than expected, talk about speed.
cAPSLOCK,
Post an LN address, want to send some "SatMerit" for your post (ran out of sMerit).
And your questions about how they handle expiration are good ones that I don't have solid answers to yet. Their default expiration though is quite long I think this is a whole day?
lnbc1psvuz26pp5pedga2d2ps3n6c3t2nfdmz0mm5ve9ldjjhq4k7l3kk6cv02hmhnsdqu2askcmr9w ssx7e3q2dshgmmndp5scqzpgxqyz5vqsp559lk0jgepd3qum2ezp9nzz52v6qzf7umk7fmxn72xrpkg h56366s9qyyssq88a9q0aqk8kfxk7v6z7c0xn3ple9lkfrhyeddf3wdvpz4p6kshk4g8wdwuw0cx73l nssk5ta242phvsgmk8edr0sfut8legaavypnzqqlqrfg4
June 19, 2021, 10:09:07 AM
On the idea that Bitcoin may be adopted in Panama...
The only current use of Bitcoin in Panama is the very expensive Bitcoin ATMs that charge about 10% both ways. All other usage is through a small community of us, mainly Ocean Builders selling to a wide swath of people that want to buy bitcoin for cash (since we can't get a bank account...supposedly due to my involvement).
The one congressman that proposed a Bitcoin law is in the opposing minority party who may just be doing it for political points or as a jab at the administration.
They tried to pass a "Crypto" law at one point, when the minister that was proposing the law finally talked to local Bitcoin users they were all up in arms because the law was shit. The law was fairly standard/cut and paste from other country's laws with no real innovation until the last few paragraphs where it talked about taking 5% of every "international transaction" and giving that money to the elderly. When the minister had a phone conference with local crypto users they kept asking questions about details in the law and after a while the minister had to end the call as it became obvious that he had not read the thing himself.
Had this congressman wanted to talk to the local crypto community I would know about it. And he hasn't.
When we called the cruise ship we purchased the "Satoshi" our government contact (assistant to the president) gave us a lot of push back telling us not to make anything public about it being a "Crypto cruise ship". For all Panama media and anything government facing I had to say the name Satoshi means "knowledge" in Japanese and that the focus of the cruise ship was for digital nomads and startups. We could not mention cryptocurrency.
The idea that they would change their stance from "don't talk about crypto" in December to "let's make Bitcoin legal tender" in June is impossible.
Their reasoning for being so scared of crypto is because of their reputation as a money laundering nation. They're trying to clean up that image and adding Bitcoin, which would make money laundering easier, does not do well for that image. They've been trying to suck up to the big boys internationally. They'll be sold to China before they adopt Bitcoin.
They have elections every 5 years and their last elections were 2 years ago. So the earliest we could see Bitcoin as a currency in Panama would be in at least 3 years when the current party is defeated. Maybe a young party like in El Salvador will take over.
The only current use of Bitcoin in Panama is the very expensive Bitcoin ATMs that charge about 10% both ways. All other usage is through a small community of us, mainly Ocean Builders selling to a wide swath of people that want to buy bitcoin for cash (since we can't get a bank account...supposedly due to my involvement).
The one congressman that proposed a Bitcoin law is in the opposing minority party who may just be doing it for political points or as a jab at the administration.
They tried to pass a "Crypto" law at one point, when the minister that was proposing the law finally talked to local Bitcoin users they were all up in arms because the law was shit. The law was fairly standard/cut and paste from other country's laws with no real innovation until the last few paragraphs where it talked about taking 5% of every "international transaction" and giving that money to the elderly. When the minister had a phone conference with local crypto users they kept asking questions about details in the law and after a while the minister had to end the call as it became obvious that he had not read the thing himself.
Had this congressman wanted to talk to the local crypto community I would know about it. And he hasn't.
When we called the cruise ship we purchased the "Satoshi" our government contact (assistant to the president) gave us a lot of push back telling us not to make anything public about it being a "Crypto cruise ship". For all Panama media and anything government facing I had to say the name Satoshi means "knowledge" in Japanese and that the focus of the cruise ship was for digital nomads and startups. We could not mention cryptocurrency.
The idea that they would change their stance from "don't talk about crypto" in December to "let's make Bitcoin legal tender" in June is impossible.
Their reasoning for being so scared of crypto is because of their reputation as a money laundering nation. They're trying to clean up that image and adding Bitcoin, which would make money laundering easier, does not do well for that image. They've been trying to suck up to the big boys internationally. They'll be sold to China before they adopt Bitcoin.
They have elections every 5 years and their last elections were 2 years ago. So the earliest we could see Bitcoin as a currency in Panama would be in at least 3 years when the current party is defeated. Maybe a young party like in El Salvador will take over.
June 19, 2021, 10:01:35 AM
June 19, 2021, 09:59:19 AM
Richard Demille Wyckoff (1873–1934) was an early 20th-century pioneer in the technical approach to studying the stock market. He is considered one of the five titans of technical analysis, along with Dow, Gann, Elliott, and Merrill. Wyckoff was an avid student of the markets and an active ticker tape reader and trader. Wyckoff proposed a method to help understand price movements in stocks and the market as a whole: The Composite Man.
”…all the fluctuations in the market and in all the various stocks should be studied as if they were the result of one man’s operations. Let us call him the Composite Man, who, in theory, sits behind the scenes and manipulates the stocks to your disadvantage if you do not understand the game as he plays it; and to your great profit if you do understand it.” — Wyckoff
The Composite Man
June 19, 2021, 09:49:01 AM
Would enjoy a weekend pump… would hate sending cheap corn for the game 😅
And ever since I saw sgbett in an interview about bsv he bugs the shit out of me. If he wins I will have an existential crisis. All his posting in there taunting us annoys tf out of me. 😁
June 19, 2021, 09:44:52 AM
Hey cAPSLOCK ... thanks for your overview.
I remember recently that you had become a bit of a fan of Blockstream, so I was looking to see if you had included the blockstream green or the blockstream agua wallets... I had heard that green was more sophisticated and fully featured and agua was supposed to be more consumer (beginner) friendly. Just wondering whether you purposefully left those out or if there was a reason - perhaps time-consuming to play around with so many wallets, too.
No problem. I honestly think lightning is important and I want to contribute to adoption if I can.
I am indeed becoming a blockbstream fan. Nobody's perfect, but I think Darth Adam and the rest of his death star are making some really good choices when it comes to building on the bitcoin ecosystem.
I get that a lot of people don't like them. I think it's like anything that's a disagreement that branches off from a very fundamental level. If you agree with the architectural choices that they obviously support, then you see the decisions there making as sensible and helpful to the ecosystem. If you disagree with the architectural choices that they support then you see them as subverting Bitcoin and trying to capture fees for themselves. I often hear the argument that they're killing the income for the miners and stealing it for themselves. And it's true that liquid for example is paying that company. But the other argument that I hear that same camp make is that fees are going to be too high on the base chain. I see that as contradictory. Fees probably will be high but that will keep miners in business, and them creating a transactional layer that benefits them monetarily but keeps fees low for the users just seems like good business in every direction to me. I have digressed onto a Death Star support rant though let me get back to your question.
My review is really just for lightning wallets so aqua and green are liquid wallets and there are not very many liquid wallets to review yet. there are those two, there's coinos.io and there's Sideswap. Maybe if this scaling layer continues to perk up I will write down some of my thoughts on those. But those are all good solutions in different ways I think green is a great wallet overall but not super notable either. Functionally liquid is an extension of Bitcoin and just feels like you're using Bitcoin. Lightning is much different does a lot of new stuff and is a little kludgier. Also aqua is iOS only so far and I'm an Android person.
My suggestion for liquid wallets would be to stick with green for now if you want the surest operability of all the cutting edge stuff like tokens etc. I put my Jade token in my sideswap and now I'm having a hard time figuring out how to move it and I think that's the wallet implementation not pilot error. That's said, I think sideswap is a really really cool project.
June 19, 2021, 09:01:26 AM
June 19, 2021, 09:00:39 AM
around the U.S. open corn was dumped out of the market like sh*t. so some technical oriented guys gave up.
looks like more sideways now. rally is delayed because it seems they don't want to have the corn to expensive to still fill their pockets at least until end of August.
Proof: yesterday someone posted that but deleted it just afterwards. but Eagleeye was faster.
https://www.cnbc.com/2021/06/18/bitcoin-goldman-sachs-ramps-up-trading-in-partnership-with-mike-novogratz-galaxy-digital.html
all of that fancy diagonal lines (only the diagonal) are now worthless.
but the others not. you damn bastards!
EDIT: Elder says diagonal lines have to much room for interpretations. it seems true.
looks like more sideways now. rally is delayed because it seems they don't want to have the corn to expensive to still fill their pockets at least until end of August.
Proof: yesterday someone posted that but deleted it just afterwards. but Eagleeye was faster.
https://www.cnbc.com/2021/06/18/bitcoin-goldman-sachs-ramps-up-trading-in-partnership-with-mike-novogratz-galaxy-digital.html
all of that fancy diagonal lines (only the diagonal) are now worthless.
but the others not. you damn bastards!
EDIT: Elder says diagonal lines have to much room for interpretations. it seems true.
It boils down to the fact those manipulating the market use those lines to trap those using those lines.
Only composite man wins in the long run.
June 19, 2021, 08:01:26 AM
June 19, 2021, 07:59:29 AM
Bear Market = Death Cross
So it's cool you know some Bitcoin related words but now you must learn what they mean
June 19, 2021, 07:32:24 AM
Bear Market = Death Cross
June 19, 2021, 07:04:15 AM
I have bewen performing some fairly deep tests on the state of all lightning wallets currently. And though I would share a Mini Review
Custodial: You send bitcoin to these and then can use their lightning channels custodially. Easiest setup.
Wallet of Satoshi 9/10
This is the leader in custodial wallets.
+Consistently low fees, even 0 sometimes (I do run a channel with them on my node so sending money back to my node is zero cost.)
+Very rare that Tx fail. As in, I do not think I have seen it happen outside of pilot error.
+Allows ad-hoc transactions (will create an invoice with no amount)
+UI is decent
This is a wallet I would DEFINITELY have on my phone if I were traveling. I believe they have a very good network of well connected nodes. I run a channel to it on my node, so if I were experiencing routing issues or high fees from my node I might keep this one loaded from my node just to take advantage of the connectivity.
Coinos.io 8.5/10
+a web wallet version
+can do LIQUID!
+very reliable well connected lightning
-You have to be careful with managing your login
This one is really cool. The only reason it is not tied for first is it is possible to send this thing a transaction to an anonymous not logged in user. Which is ACTUALLY a FEATURE. It makes it able to be used with a little strange amount of privacy. But if you accidently do this and not notice the random name it gives you (Satoshi-#####) then you will have to contact the folks who run it to refund your money as it will be in some random wallet. This is more a ME problem than sn IT problem, though.
BlueWallet 5/10
-Fees are "OK" but could be 200-800 sats. Currently on chain is not much more.
-Payments still fail as much as they ever did
-Failed payments may appear to have worked and then fail later (yuck)
-There is a delay in returning sats from a failed tx.
-You can't easily spend bigger amounts
Whenever I get sats into this thing, I then work really hard to get them back off... lol It's like having hit your golfball onto a beach. Even as a lightning wallet that has been around a while I find it klugey
Non-custodial Neutrino private channel (These run a full neutrino node, and establish a single channel to the wallet company) They are sort of a hybrid between a custodial wallet and a full node wallet. Easier to set up, but has a little less smoothness than WoS, or Zeus for example
Phoenix 8/10
-Will handle ad-hoc amounts
-Cheap fees
-Can receive when in the background
-Good UI
Best in this class. Solid.
Breez 7/10
+Similar to Phoenix but not quite as smooth
-Forces you to keep 600 sats there at all times (?)
+Can do micro payments to streaming podcasts and has a podcast PLAYER in it now. Kinda neeto.
+Can work in POS mode
-I think this needs to be in the foreground on your device to receive payments. Meh. But just a little meh. Usually this is OK.
Muun 7/10
+Also similar to the two above
+nice UI
-Cannot do ad hoc amounts
-VERY unique backup strategy.
Non-Custodial connected to your node. Hardest to set up. You have to connect these to a real node. You will be spending the money on THAT node so setup and maintenance is a bitch. You have to manage and balance channels etc. BUT, if you can do all this, it is also the most sovereign solution.
Zeus 9/10
+The nuts.
+great UI
+can do ad hoc amounts
+can do MPP!!!! (Multi path Payments. I have actually not tried this yet. But it's in there... Could be good when needing to send a large payment.
Zap 8/10
+Very similar to Zeus, but not quite as slick a UI
-And can't do ad hoc amounts.
So, say I was going to spend a week at Bitcoin beach. I would load Zeus and WoS on my phone. I would also have Strike standing by to drop more funds into my channels as needed (But if i spent all the money on my node, um, that would be a problem of some kind). I would probably try to live out of Zeus, but if I had any trouble I would just keep WoS going. Of all the wallets I feel like it is #1 in just payment ease. And since I have a channel to it I can swing money to it for free from my node in 1 hop. I was surprised that Bluewallet still stunk like it did when I first tried it... too bad.
Honorable mention.
Strike 8/10
I don't know how to classify this one. It can work as a bitcoin wallet, a lightning wallet, and the cash app. The lightning features are kind of hidden, but you CAN sent a payment to a lightning destination with it, in fact I use to to refill my channels from time to time. I would not probably use it much on my trip, but I would certainly have it loaded as a sort of backup.
Custodial: You send bitcoin to these and then can use their lightning channels custodially. Easiest setup.
Wallet of Satoshi 9/10
This is the leader in custodial wallets.
+Consistently low fees, even 0 sometimes (I do run a channel with them on my node so sending money back to my node is zero cost.)
+Very rare that Tx fail. As in, I do not think I have seen it happen outside of pilot error.
+Allows ad-hoc transactions (will create an invoice with no amount)
+UI is decent
This is a wallet I would DEFINITELY have on my phone if I were traveling. I believe they have a very good network of well connected nodes. I run a channel to it on my node, so if I were experiencing routing issues or high fees from my node I might keep this one loaded from my node just to take advantage of the connectivity.
Coinos.io 8.5/10
+a web wallet version
+can do LIQUID!
+very reliable well connected lightning
-You have to be careful with managing your login
This one is really cool. The only reason it is not tied for first is it is possible to send this thing a transaction to an anonymous not logged in user. Which is ACTUALLY a FEATURE. It makes it able to be used with a little strange amount of privacy. But if you accidently do this and not notice the random name it gives you (Satoshi-#####) then you will have to contact the folks who run it to refund your money as it will be in some random wallet. This is more a ME problem than sn IT problem, though.
BlueWallet 5/10
-Fees are "OK" but could be 200-800 sats. Currently on chain is not much more.
-Payments still fail as much as they ever did
-Failed payments may appear to have worked and then fail later (yuck)
-There is a delay in returning sats from a failed tx.
-You can't easily spend bigger amounts
Whenever I get sats into this thing, I then work really hard to get them back off... lol It's like having hit your golfball onto a beach. Even as a lightning wallet that has been around a while I find it klugey
Non-custodial Neutrino private channel (These run a full neutrino node, and establish a single channel to the wallet company) They are sort of a hybrid between a custodial wallet and a full node wallet. Easier to set up, but has a little less smoothness than WoS, or Zeus for example
Phoenix 8/10
-Will handle ad-hoc amounts
-Cheap fees
-Can receive when in the background
-Good UI
Best in this class. Solid.
Breez 7/10
+Similar to Phoenix but not quite as smooth
-Forces you to keep 600 sats there at all times (?)
+Can do micro payments to streaming podcasts and has a podcast PLAYER in it now. Kinda neeto.
+Can work in POS mode
-I think this needs to be in the foreground on your device to receive payments. Meh. But just a little meh. Usually this is OK.
Muun 7/10
+Also similar to the two above
+nice UI
-Cannot do ad hoc amounts
-VERY unique backup strategy.
Non-Custodial connected to your node. Hardest to set up. You have to connect these to a real node. You will be spending the money on THAT node so setup and maintenance is a bitch. You have to manage and balance channels etc. BUT, if you can do all this, it is also the most sovereign solution.
Zeus 9/10
+The nuts.
+great UI
+can do ad hoc amounts
+can do MPP!!!! (Multi path Payments. I have actually not tried this yet. But it's in there... Could be good when needing to send a large payment.
Zap 8/10
+Very similar to Zeus, but not quite as slick a UI
-And can't do ad hoc amounts.
So, say I was going to spend a week at Bitcoin beach. I would load Zeus and WoS on my phone. I would also have Strike standing by to drop more funds into my channels as needed (But if i spent all the money on my node, um, that would be a problem of some kind). I would probably try to live out of Zeus, but if I had any trouble I would just keep WoS going. Of all the wallets I feel like it is #1 in just payment ease. And since I have a channel to it I can swing money to it for free from my node in 1 hop. I was surprised that Bluewallet still stunk like it did when I first tried it... too bad.
Honorable mention.
Strike 8/10
I don't know how to classify this one. It can work as a bitcoin wallet, a lightning wallet, and the cash app. The lightning features are kind of hidden, but you CAN sent a payment to a lightning destination with it, in fact I use to to refill my channels from time to time. I would not probably use it much on my trip, but I would certainly have it loaded as a sort of backup.
Thanks, really useful.
I tried "Wallet of Satoshi" for fun, do you know if the lightning receive address generated each time expire after a while? Since you have no control over channels, would be interesting to know.
EDIT:
This was more fun than expected, talk about speed.
cAPSLOCK,
Post an LN address, want to send some "SatMerit" for your post (ran out of sMerit).
June 19, 2021, 07:01:39 AM
June 19, 2021, 06:01:26 AM
June 19, 2021, 05:10:49 AM
looks like more sideways now. rally is delayed because it seems they don't want to have the corn to expensive to still fill their pockets at least until end of August.
By the end of this month we shall see +45K at least. There are huge huge shorts that need to be closed within next 10 days. Proudrekt will be rekt. Again.
June 19, 2021, 05:01:27 AM
June 19, 2021, 04:48:17 AM
Would enjoy a weekend pump… would hate sending cheap corn for the game 😅
June 19, 2021, 04:29:18 AM
Oh no my bitcoins are only worth what they were a week ago 😢
June 19, 2021, 04:01:33 AM
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