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

[Rosewater Foundation]

Imagine all the retail traders who think bitcoin is a scam after reading it in the paper and want to pile on and short it:  

https://m.benzinga.com/article/10892063?utm_referrer=https%3A%2F%2Fwww.google.com%2F

For investors who actually want to own bitcoin but don’t want the hassle of setting up a digital wallet

What kind of people are these exactly

[1714480805]

1714480805

[TERA2]

What people think BOA patent news means: mass adoption of crypto

What it actually means: Cease and desist orders to all existing crypto exchanges, and either no use of the patent or use for proprietary bank coins

Good thing decentralized exchanges won't give a damn.

Which exchanges are decentralized?

https://bisq.network/
http://www.coinffeine.com/

How is fiat handled?

So it's placing trust in third party payment processors and/or third party escrows, neither of which are secure or truly irreversible by our standards.

[gentlemand]

So it's placing trust in third party payment processors and/or third party escrows, neither of which are secure or truly irreversible by our standards.

Um, yeah. It's fiat. Cash or this pretty much.

[Ibian]

Imagine all the retail traders who think bitcoin is a scam after reading it in the paper and want to pile on and short it:  

https://m.benzinga.com/article/10892063?utm_referrer=https%3A%2F%2Fwww.google.com%2F

For investors who actually want to own bitcoin but don’t want the hassle of setting up a digital wallet

What kind of people are these exactly

Dinosaurs. They wanna make money but lack the technical skills to set up a wallet.

[Rosewater Foundation]

Imagine all the retail traders who think bitcoin is a scam after reading it in the paper and want to pile on and short it:  

https://m.benzinga.com/article/10892063?utm_referrer=https%3A%2F%2Fwww.google.com%2F

For investors who actually want to own bitcoin but don’t want the hassle of setting up a digital wallet

What kind of people are these exactly

Dinosaurs. They wanna make money but lack the technical skills to set up a wallet.

BitPay wallet takes all of 6 seconds to 'set up'. It ain't rocket surgery. That can't be it.

[Ibian]

Imagine all the retail traders who think bitcoin is a scam after reading it in the paper and want to pile on and short it:  

https://m.benzinga.com/article/10892063?utm_referrer=https%3A%2F%2Fwww.google.com%2F

For investors who actually want to own bitcoin but don’t want the hassle of setting up a digital wallet

What kind of people are these exactly

Dinosaurs. They wanna make money but lack the technical skills to set up a wallet.

BitPay wallet takes all of 6 seconds to 'set up'. It ain't rocket surgery. That can't be it.

That, and they want someone to blame if they suddenly disappear. Can't do that if they are personally responsible for the safety of their own money.

[TERA2]

I'm imagining a future where they is indeed a frenzy over coins, but not our coins. You see people rushing to buy FiatCoin and BOAcoin in their TD Ameritrade account. Meanwhile you are extremely frustrated and going 'omg you idiot that isn't a real coin. that isnt bitcoin. that isnt decentralized. why arent you on our illegal exchange trading real coins?
? havent you ever been in the crypto community or read the whitepaper or know what pki is? [no]'. But all of this just goes completely over their head and they are buying whatever is trending, as always.

[gentlemand]

I'm imagining a future where they is indeed a frenzy over coins, but not our coins. You see people rushing to buy FiatCoin and BOAcoin in their TD Ameritrade account. Meanwhile you are extremely frustrated and going 'omg you idiot that isn't a real coin. that isnt bitcoin. that isnt decentralized. why arent you on our illegal exchange trading real coins?
? havent you ever been in the crypto community or read the whitepaper or know what pki is? [no]'. But all of this just goes completely over their head and they are buying whatever is trending, as always.

Yup. I recently got in on this new thing called the Pound. It's backed by the actual UK government and all the banks and that's going to be announced on the Pound Slack soon. It offers returns of up to 0.75% a year, but don't tell no one and especially don't tell them about the 3-8% inflation bit.

[pfrtlpfmpf]

Are there a list of these brokers? Specifically in the UK?

Try Coinfloor. Their OTC page says it's institutional only but they do private people too. Lots of people seem to have used them.

The two biggest are probably Genesis Trading, which is Barry Silbert's operation, and Cumberland Mining. They may well have GBP clients waiting too as it's all case by case. Genesis Trading only do trades above 25 BTC last time I checked.

Itbit does a lot of it too.

Thanks

Double Thanks. Even though im not in the UK, i learned a thing here, or two.

[xhomerx10]

Dammit!!!

[Ibian]

Dammit!!!

Wait, are they actually using a toaster? On their official failure page? Never noticed before.

[HairyMaclairy]

At this point I think Kraken has probably cost people 10x what Bitfinex did

[BTCMILLIONAIRE]

What people think BOA patent news means: mass adoption of crypto

What it actually means: Cease and desist orders to all existing crypto exchanges, and either no use of the patent or use for proprietary bank coins

Good thing decentralized exchanges won't give a damn.

Which exchanges are decentralized?

https://bisq.network/
http://www.coinffeine.com/

How is fiat handled?

There are solutions for fiat... but I don't think it's a great idea to give regulators too much of a hint at this point in time. Depends a lot on your country and how much effort you are willing to put into collecting fiat though.

[arklan]

Do we actually expect any sudden action today from the futures stuff?

[explorer]

Do we actually expect any sudden action today from the futures stuff?

Single digits in 3 hours, is what I heard.  Seemed legit.

[BTCMILLIONAIRE]

Do we actually expect any sudden action today from the futures stuff?

Probably. At least until the whole market realizes that futures mean fuck all to Bitcoin's price (other than bringing more mainstream attention to it).

[BTCMILLIONAIRE]

Do we actually expect any sudden action today from the futures stuff?

Single digits in 3 hours, is what I heard.  Seemed legit.

If only.

[PricklyPear1]

I'm imagining a future where they is indeed a frenzy over coins, but not our coins. You see people rushing to buy FiatCoin and BOAcoin in their TD Ameritrade account. Meanwhile you are extremely frustrated and going 'omg you idiot that isn't a real coin. that isnt bitcoin. that isnt decentralized. why arent you on our illegal exchange trading real coins?
? havent you ever been in the crypto community or read the whitepaper or know what pki is? [no]'. But all of this just goes completely over their head and they are buying whatever is trending, as always.

I see this as well. Specifically with regards to the blockchain. Each bank (and its customer base) would conduct all transactions in said bank’s ‘coin.’ These transactions would be privately validated through said bank and then logged to the public blockchain. As transaction occur between banks (and their customers), this process would be repeated. More transactions = higher fees = more money made by the bank from customers and from other banks it does business with. This would theoretically increase the ‘coin’ price of the bank with the highest volumes as compared to other banks. Of course all of this could be speculated on in a futures market or an actual regulated “coin” market much like present day stocks. Banks get around the problem of centralized trust (as they privately assume some risk by validating their own transactions offline with their ‘coin’ or in-house network) and publicly confirm those private transactions through the public blockchain ledger.

[Globb0]

Survived the weekend.

Banks and fiat back online tomorrow.

Just like dusk till dawn.

[HairyMaclairy]

Do we actually expect any sudden action today from the futures stuff?

I am assuming a slow grinding dip through this week as people realize they are not instantly rich.  Then pick up from there.