BTC May Day 2024 Weekly Update:
Candle Bar Wicked up to a New ATH 11 Mar 2024 at 73835 on the Upper White Major Trend Channel, retraced the Major Fractal 5th Leg (Blue 5) to the Root Mean Square (RMS) Mid white channel line as temp support... Now (57.3K down 6K so far this week = Accelerating ABC Correction) Midway between the Fibonacci .236 and .382 retracements with a highest probability A-B-C corrective move of .618 to .786 range considering BTC notorious volatility. The strong red 200 Week Moving Average is beginning to parallel the lower white Major Trend Channel line at .618 retrace of 37,759. Key Targets Range 37,759 to Red 200 Wk MA 34,191 to possible Fib .786 at 27,952 - basically a 10K target range due to BTC volatility.
2nd Wildly Optimistic BTC Chart below based upon Fibonacci extensions after current A-B-C Fractals Correction.
Leg 1 to the Top white Channel Line with Leg Two .618 of 1 retrace and then an impulsing 3rd leg to 380K end of January 2028 at the Fibonacci 2.618 Extension. 5th leg currently violates all Fibonacci Fractal wave math extension rules to get to 1 million meaning at least 3 to 5 Full 5 Wave-ABC corrective cycles to get there after 2030. The Maths do not lie. Fibonacci Cycles Rule the Universe.
Candle Bar Wicked up to a New ATH 11 Mar 2024 at 73835 on the Upper White Major Trend Channel, retraced the Major Fractal 5th Leg (Blue 5) to the Root Mean Square (RMS) Mid white channel line as temp support... Now (57.3K down 6K so far this week = Accelerating ABC Correction) Midway between the Fibonacci .236 and .382 retracements with a highest probability A-B-C corrective move of .618 to .786 range considering BTC notorious volatility. The strong red 200 Week Moving Average is beginning to parallel the lower white Major Trend Channel line at .618 retrace of 37,759. Key Targets Range 37,759 to Red 200 Wk MA 34,191 to possible Fib .786 at 27,952 - basically a 10K target range due to BTC volatility.
2nd Wildly Optimistic BTC Chart below based upon Fibonacci extensions after current A-B-C Fractals Correction.
Leg 1 to the Top white Channel Line with Leg Two .618 of 1 retrace and then an impulsing 3rd leg to 380K end of January 2028 at the Fibonacci 2.618 Extension. 5th leg currently violates all Fibonacci Fractal wave math extension rules to get to 1 million meaning at least 3 to 5 Full 5 Wave-ABC corrective cycles to get there after 2030. The Maths do not lie. Fibonacci Cycles Rule the Universe.
Last edited:
Also, Roger Ver arrested:
Just use your 24 words plus the passphrase to recover in a different wallet, like Sparrow.
All funds including whirlpool should be there.
You could recover offline on a hardware device and use the xpub to get balance info, instead of putting them on a connected device.
Correction…to do it with a HW wallet requires some manual input of path derivations, but sparrow can do this automatically. I guess whirlpool and samurai is more complex than a normal single sig wallet.
Cz is happy and saying he only got 4 months in jail
Samurai to Sparrow automatic derivation with BIP-39 and passphrase recovery...it automatically tabs pre-mix and post-mix coins for you.
Are you sure that's what he means? Is it possible he's actually signaling that he's aligned himself with the legendary Four Horseman faction???
Jim Ross: Bah gawd, King, I never thought I'd see the day when CZ joined the Four Horseman!
Jerry Lawler: Hold onto your Bitcoin, JR, we're going straight to the moon from here!
Now this is really huge:
Kraken is going to leave Germany effective July 10th and the successor company DLT Finance is not going to support Monero.
https://support.kraken.com/hc/en-us/articles/kraken-powered-by-dlt-finance-asset-support
Kraken is going to leave Germany effective July 10th and the successor company DLT Finance is not going to support Monero.
https://support.kraken.com/hc/en-us/articles/kraken-powered-by-dlt-finance-asset-support
Hey guys, I'm sorry for the probable dumb questions, but still.
I work in a demanding field in the health industry which uses up most of my time (it requires a lot of constant learning and training to stay at the top of your game). It's fulfilling work, so I like it and the pay is good.
I also have a young family (one daughter and expecting another this year) to which I aspire to be a good husband and father, following Christian doctrine.
All of this leaves me with limited time that I can devote to other endeavors, one of the being crypto.
I read Redbeards thread, he was also very gracious with his time and with his advice I bought a used Google Phone, installed the Samourai Wallet and started buying BTC on regular intervals with a 'set it and forget it' attitude. I don't plan on trying to become rich with crypto; I use it more as another lever to try and stay afloat during these crazy times.
I have physical copies of those recovery words which I'm planning to use to recover my assets.
My questions for you guys is this or if you could direct me to a source you deem credible.
1. What wallet would you advise for someone like me, after the Samourai debacle?
2. Would you still advise to have the thing on a phone, or is a PC desktop wallet adequate? I'd like to keep buying BTC on regular intervals as little as complicated as possible.
3. I'd like to use crypto to buy and support people (this site, articles, podcasts, donations etc.) on our side. I'd like to use crypto because I fear that soon you will become persona non grata to banks when they will see that you've been supporting those they deem 'problematic' and with a family to support I'm curently yet not established enough for this to not become a problem for me.
Thank you in advance!
I work in a demanding field in the health industry which uses up most of my time (it requires a lot of constant learning and training to stay at the top of your game). It's fulfilling work, so I like it and the pay is good.
I also have a young family (one daughter and expecting another this year) to which I aspire to be a good husband and father, following Christian doctrine.
All of this leaves me with limited time that I can devote to other endeavors, one of the being crypto.
I read Redbeards thread, he was also very gracious with his time and with his advice I bought a used Google Phone, installed the Samourai Wallet and started buying BTC on regular intervals with a 'set it and forget it' attitude. I don't plan on trying to become rich with crypto; I use it more as another lever to try and stay afloat during these crazy times.
I have physical copies of those recovery words which I'm planning to use to recover my assets.
My questions for you guys is this or if you could direct me to a source you deem credible.
1. What wallet would you advise for someone like me, after the Samourai debacle?
2. Would you still advise to have the thing on a phone, or is a PC desktop wallet adequate? I'd like to keep buying BTC on regular intervals as little as complicated as possible.
3. I'd like to use crypto to buy and support people (this site, articles, podcasts, donations etc.) on our side. I'd like to use crypto because I fear that soon you will become persona non grata to banks when they will see that you've been supporting those they deem 'problematic' and with a family to support I'm curently yet not established enough for this to not become a problem for me.
Thank you in advance!
JayR
Heritage
For what it's worth, I was able to recover my Samourai BTC to the Mycelium wallet (you will be asked for your seed words AND your passphrase when you create the new wallet).
I didn't choose Mycelium because I decided it was best wallet after hours of research. I chose it because it was the first Android wallet I found that offered a downloadable .APK file I could sideload onto my deGoogled Pixel.
I also have similar questions. Any info would be gratefully received.
JayR
Heritage
Question for the experienced guys here -- What is the best way to convert a "large" amount (let's say $10,000) of non-KYC BTC into dollars?
If I ever need to do this, I figured I would just create an account at one of the big centralized exchanges (e.g., Coinbase, Kraken, etc.), send them my BTC, then withdraw USD to my bank.
However, I'm concerned that if the CEX cannot verify where I got my non-KYC BTC, they might do something draconian like freeze my account and I lose my BTC. Is this a valid concern?
I use Bisq to buy BTC anonymously, and I could also use Bisq to sell BTC for USD, but with Zelle and most other payment methods the transactions are limited to a few hundred dollars. Getting $10K+ wouldn't be possible to do quickly that way, should the need arise.
If I ever need to do this, I figured I would just create an account at one of the big centralized exchanges (e.g., Coinbase, Kraken, etc.), send them my BTC, then withdraw USD to my bank.
However, I'm concerned that if the CEX cannot verify where I got my non-KYC BTC, they might do something draconian like freeze my account and I lose my BTC. Is this a valid concern?
I use Bisq to buy BTC anonymously, and I could also use Bisq to sell BTC for USD, but with Zelle and most other payment methods the transactions are limited to a few hundred dollars. Getting $10K+ wouldn't be possible to do quickly that way, should the need arise.
Last edited:
I thought about this recently and believe that eventually, and it does seem that it will be accepted into the financial system and more (but we'll see), you'll just be able to send it to a bank as collateral and get a loan, like most of us want to do (and Saylor has recommended).
JayR
Heritage
Hmm. I'm not sure this would work in the scenario I'm thinking of. Let's say...
A tornado blows the roof off my house tomorrow. I have no insurance (total racket). I need $10K right now to get the roof repaired, but all my money is in non-KYC BTC in a self-custody wallet. There are no Bitcoin Banks, yet, who will make a USD loan with BTC as collateral.
How do I convert my BTC into $10K right away?
Cash connections through the internet is the quickest answer.
Do you have a mexc account? It is changing to kyc next mont.
You can get a Pilau id legally to set up and use mexc as an American citizen
Basically to on-ramp, I use fiat to buy usdc on coinbase or Gemini. Send usdc to mexc. Convert to usdt. Buy the coins I want and store in tangem. To sell I will do the reverse. Send my alph, kas, chrp, rite etc from tangem to either coin base wallet or mexc, convert the coin to usdt/usdc. Sell the crypto for cash.
I plan to mostly buy stocks with the fiat. I will use exchanges like Robinhood and m1 financial that have both crypto and stocks. Sell the usdt /usdc on m1 financial and Robinhood then buy stocks with the fiat. In a couple years I’ll sell some stocks and buy Bitcoin during the bear market. Then in the next bull market buy more alt coins .
Or heck if I really do make millions from alt coins this bull run I may just stick with stocks and bitcoin/ eth in the future. No need to take big risks if I can get a safe 3x to 5x from btc/ eth