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

[Killerpotleaf]

Knock Knock

Who's there? 

eight

[1714502694]

1714502694

[1714502694]

1714502694

[abstract1]

So is Chinapocalypse 2.0 (or is it 3.0?) finally over now? Is the bull prepped?

Unfortunately I had to sell 1 bitcoin near the bottom of that dip for time sensitive reasons. RIP my little bitcoin, sorry we had to part ways so soon and you could not achieve greater glory by my side. Yes I talk to my bitcoins.

[European Central Bank]

maybe one of the results of the chinese sniffing around is that we discover they've been naked short selling it all these years. could be fun.

[Killerpotleaf]

not much fallow thru there...

meh no worries the grind will loss resistance and gain support.

[Killerpotleaf]

maybe one of the results of the chinese sniffing around is that we discover they've been naked short selling it all these years. could be fun.

isn't that legal tho?

i mean its an accepted practice on other markets.

[the artful bodger]

maybe one of the results of the chinese sniffing around is that we discover they've been naked short selling it all these years. could be fun.

isn't that legal tho?

i mean its an accepted practice on other markets.

I remember the US briefly banned shorting during a fiat/stocks crash years ago. It was legal until they decided to briefly ban it, then they unbanned it again and it went back to legal. China's the same, it's legal until they say it's not, then back to legal when they say it is.

[Killerpotleaf]

maybe one of the results of the chinese sniffing around is that we discover they've been naked short selling it all these years. could be fun.

isn't that legal tho?

i mean its an accepted practice on other markets.

I remember the US briefly banned shorting during a crash years ago. It was legal until they decided to briefly ban it, then they unbanned it again and it went back to legal. China's the same, it's legal until they say it's not, then back to legal when they say it is.

naked shorts are really just a risk to the exchange itself.
there the ones leading out coins they dont have.
the exchanges probably hedge when / if they do this, they'll lead you 500BTC they dont have, and buy some "puts" or somthing.
really there just betting they'll make money because some will get liquidated... and that will cover their hedging costs and then some.
they lead you 500BTC, buy a put, price moves higher up, they use there put you get liquidated, and they profit big time.
Lol wouldnt suprize me at all this kinda shits happening...
 
unclear if PROC will put a stop to this, they play the same games...

[Chevas Regal]

Just a Week ago i was active here and encountered that the btc was at 1065$ , and today i see tat it is again floating at 800$, Interesting.

[sirazimuth]

wait till it shoots over $1000 again and watch all the coulda woulda shoulda
hodelers sell their stash like theres no tomorrow

[Searing]

wait till it shoots over $1000 again and watch all the coulda woulda shoulda
hodelers sell their stash like theres no tomorrow

Then new FUD will emerge and 800 btc again. (I see an ugly trend here....back/forth up/down......they hate our btc flawless elegance and beauty)

[savetherainforest]

Damn.. that's good.


But I guess its pretty much sideways(10-15$/day) for the next few days at least... I just see a ping-pong of 100-200CNY each day in their exchange with revised policies. But nothing too sharp and drastic.  

[r0ach]

What do I mean? India was about 80% cash. Why would the people not just reply with 'fuck you - we'll just keep using these notes the same way we have been'. Nothing changes. 80% of all transactions continue being done in cash -- not recognized by the gubmint, but who the fuck gives a shit -- and Modi ( and his wall street financiers) get to stew over in the corner. I mean really -- for the people, what is the downside?

Because it fails in game theory exercise when you have an unorganized mass of people with no "Schelling point" of convergence.  In other words, the value of the fiat is derived solely from government "backing", yet the government just "unbacked" the currency to worthlessness.  This means you could never have more than a small, illogical minority group coming together with that as a solution.  Gold and silver on the other hand derive value irrespective of government, so the Schelling point in these types of situations is always going to be a mad dash to metals instead.

https://en.wikipedia.org/wiki/Focal_point_(game_theory)

[jbreher]

the value of the fiat is derived solely from government "backing",

The governmental backing is nothing but an empty promise. All functional money is based upon nothing but faith.

[JayJuanGee]

Just a Week ago i was active here and encountered that the btc was at 1065$ , and today i see tat it is again floating at 800$, Interesting.

What is so interesting about those two price snapshots?

A lot has gone on in regards to bitcoin's prices in the past few weeks, so those two price points seem a lot less interesting than other contextual matters. 

[chichidori]

The question is how low will it go down this year will it be under 200 usd or will it hold the in 500 USD spot until it reaches the 1000 USD again.

[Killerpotleaf]

The question is how low will it go down this year will it be under 200 usd or will it hold the in 500 USD spot until it reaches the 1000 USD again.

support at 770-750  was pretty strong, and now the panic is over.
bottom fishers taking there 5% is the only thing ( besides to PBOC ) thats holding us back from climbing troward 900
can't take profit if you dump price... so i won't expect big dumps and intense volume.
back to the slow grind.
maybe we'll see 798.5 one last time, but dont expect that to cause any kind of panic selling...

[JayJuanGee]

The question is how low will it go down this year will it be under 200 usd or will it hold the in 500 USD spot until it reaches the 1000 USD again.

support at 770-750  was pretty strong, and now the panic is over.
bottom fishers taking there 5% is the only thing ( besides to PBOC ) thats holding us back from climbing troward 900
can't take profit if you dump price... so i won't expect big dumps and intense volume.
back to the slow grind.
maybe we'll see 798.5 one last time, but dont expect that to cause any kind of panic selling...

That is b call koreck...      The killer pot is sounding a bit too sober this evening....   

[becoin]

the value of the fiat is derived solely from government "backing",

The governmental backing is nothing but an empty promise. All functional money is based upon nothing but faith.

Government backing is not nothing. You have to pay your taxes in 'functional' money. If you don't pay taxes you go to jail. Government backing = brute force and nothing else. Simple, isn't it?

[yonton]

.0001% get jail time for not paying taxes.

[K~Ehleyr]

.0001% get jail time for not paying taxes.

Source?