Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 5544. (Read 26607870 times)

Looks more like we'll be "testing" $20k soon. And by "testing" I mean "collapsing through".

on the way to 70k may 1

Hmm, it doesn't make much sense to sell now. $51k would be a good foundation for a rocket launch, but it's too early.
Interesting to observe, tho.

*huh*? Your fees pay to keep the coin running. Technically you can elect to pay no fees, but your transaction probably will never complete. So it's hardly voluntary if you want to use the service. It could be exactly like a "tax" in that if you don't pay your tax you don't get any of the benefits.

I think this is being stretched a bit too far here, how about if we just drop it and go back to bashing shitcoins, ok?

On the way for the 51K retest ? 

Only if you see it from a client side perspective...
You can happily throw away Apple's server software, though.
Industry runs M$ servers, typically, and you're right in some way, because the OS itself is the malware.

That's a nonsense assertion to just stop taxing blah blah blah (been hearing such nonsense a lot, even from smartie pants peeps) because even though I agree that the whole printing money phenomena is a shambles and out of control, it is still somewhat (if not loosely) based on either GDP (gross domestic product) and our world production (in the case of the dollar)..

Yes, the whole world is getting taxed by the ongoing debasement of the dollar through its widespread printing, and the extent to which the US Government can get some of that money back (whether taxes or other modes) then surely it does allow for such system to be more sound, such as some of the investment into infrastructure and the people that might allow the money to come back to the government.  Nonetheless, many of us likely realize that whatever stronger investments that the government is doing with its money printing is likely too little to late, but they might be able to kick the can down the road further - including kicking the can down the road so far that many of us on this forum are dead by the time the real downfall of the government happens. 

I will agree that the impending doom of the USGovt and the dollar dominance has seemed more and more desperate, and I would not even really claim to know, because even in late 2013 when I got into bitcoin, there were suggesting that the downfall of the USGovt was impending and at that time, I was thinking that it had at least another 30 years, so in that sense I should not be too worried, but the shenanigans of 2020 that seem to be somewhat continuing (though investing into infrastructure is probably good - and there is likely nothing really wrong with wider-base investments into the people rather than just giving to the rich and expecting trickle down), but still there might be a bit of a struggle to get another 20 years out of the USGovt and the dollar - especially with the bitcoin looming as a kind of competition. 

Sure, the amount of printing remains out of line and seems to not really be in control (though are any of us real experts on this, even the proclaimed experts?), but the "free" market does end up debasing the currency more and more based on how far "out of line" such printing gets with production and assets (loosely based), and part of the reason that bitcoin remains so valuable is that the free market is going to end up fucking all of the various fiats because of their lack of foundation, soundness, hardness and/or whatever other variation of responsible pegging that you would like to describe within a kind of Gresham's law - in which with the passage of time value is going to gravitate into bitcoin and each of us will decide to spend our less valuable monies and assets before we spend our bitcoins.

I've decided against the safu ninja method or the bolt, washer and nut method even if it's very good compared to the paper alternatives, for the same reasons that Lopp already states: the pieces might separate, and even if you mark each washer with the word order number.


But it's still a very good idea.

https://safu.ninja/



The plate can also be easily hidden or simply screwed on to your home's foundation. Or buried. I would wrap these things in plastic then bubble wrap or something similar, then in some sort of fire resistant container, then put in a wooden or metal box.

I see ETHBTC going up and up. The degens are at it again.

Switching to a Mac is any easy enough solution for the average person worried about ransomware.

In contrast $10 of millions have been lost for years and years via tech / IRS scams, yet those bastard Indian scammers can still phone me and ask for a gift card.
Nothing has been done about that. Probably had about 20-25 calls just in the last year to a private / withheld house line number. Amazon Prime scams mostly.

Bitcoin dominance is down to 48% then what's next?

boom....🚀$100k

https://twitter.com/DocumentingBTC/status/1387746160245448707

https://www.reuters.com/article/us-bitcoin-regulation-ransomware-exclusi-idINKBN2CF2UM

coming sth

The great thing about Bitcoin is that (unless you do it wrong), you start from a position of unimpeachable security. A random 256 bit number (or series of such) completely unknown to anyone else. It's true that management of that poses some difficulties but solutions tend to be problematic only in that they have reduced security compared to the maximum security bitcoin provides and not in comparison to more traditional options for wealth storage (which look pretty poor in comparison).


I wouldn't really agree. That's kinda throwing the baby out with the bathwater. It may just require more sophisticated key management techniques and for people to become more aware of their availability. Your bank and another party might participate in an m of n arrangement, for example. (Though bviously, you are sacrificing some security there, it's still better than trusting someone else with all your funds). The major thing is education though. Of the people I gave Bitcoin to in the past, none of them took notice of my warning to take backups of their wallets.

Oh, i just read about futures expiring tomorrow.
Not unusual that the market is on hold (because we already had the dip because of the options). Usually BTC is rising shortly after futures are cleared.

Well of course it will since we will be 70k for sure on May 1🙂

They see an inverted H&S. It looks like it's forming on lower timeframes, but we already know that BTC does that in that kind of range too.
So if the narrative plays out, they might be right.
I also see Alts going strong, but i asked myself already how long the rise will hold up. Some coins almost doubled in $ value, also in BTC value, because the king still moving sideways. We already know what might be next: Alt gains flip over to BTC, liquidating leveraged longs, sending alts into a "correction" (which might last until Q1/2022). Just my 2c

EDIT: The other way would be a revisit of $40k territory, with alts doubling up once again. But this would be more like 2013 again, so it's basically 2017 vs 2013 repeated.

I agree, most libertarians come at the problem from the perspective of making it happen where they live. It does need to be proven at the small scale first (outside of historical proof such as Iceland for 400 years). I think the Blockchain city ( https://www.blockchains.com/ ) can give a good start if it can get people to move there to start testing things out.

A few thoughts.

First of all bitcoin security, especially in the "self-sovereignty" realm is still a VERY unsolved problem. Even current "best practices" are not agreed upon, and many solutions will bring us right back to the original problem.  For example, a BIP39 passphrase...  Obviously these SHOULD be used.  But then, how do you secure THEM?  

Doing this right is a balance of security and simplicity.  If we try to do it in a way that is overly convoluted, or requires a very good memory, or would be difficult to communicate to another trusted human, we are increasing the possibility of a "foot gun".  When I have thought through these I have tried to come up with schemes where I would combine a set of keys for multi-sig with decoy amounts in the wallets associated with the single keys, along with BIP39 passphrases, AND the use of exotic derivation paths.  I began to realize that if I over-engineer the method in the name of "security" I am increasing the chances that I can make a mistake, or simply forget one of the things I did.

So balancing simplicity with security is important I think.

As to seed backups.  I think the above stainless steel sheet is a great one.  I am also a big fan of the stainless steel washers on a nut and bolt method, and have made several of these myself.  I even designed and built a 3d printed stamping jig.  I like that these are very compact and durable.  There are lots of great hiding places for them etc...
https://blog.lopp.net/metal-bitcoin-seed-storage-stress-test-iv/


Ultimately, I am also coming to the conclusion that trust minimized services with third parties may be one of the best solutions currently.  Lopp's Casa, or Unchained capital are good examples.  These are multisig schemes that use the third party as a security net.

And unfortunately, for some (most probably) users a bitcoin bank may be the safest solution even taking the counterparty risk into account.  Leaving your bitcoin on an exchange, or in your CashApp wallet is rightly frowned upon by we OG elite... but until we have better trust minimized options it still might be best for the masses.