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

[AlcoHoDL]

/tinfoil hat on

It seems somebody is buying large chunks of corn, then sending corn abroad and selling on the other side.

/tinfoil hat off

It's pAmping again...

If what you're saying is true, it makes it so tempting to sell at the top of the Bart and wait for the dump to rebuy more corn...

Will I do it? Probably not. Why? 1. I'm a hardcore HoDLer. 2. I'm very unlucky in trading, when I sell at the top of the Bart, it will turn out to be the bottom of the mega-FOMO rise we are all waiting for...

tl;dr: HoDL.

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[JayJuanGee]

/tinfoil hat on

It seems somebody is buying large chunks of corn, then sending corn abroad and selling on the other side.

/tinfoil hat off

It's pAmping again...

If what you're saying is true, it makes it so tempting to sell at the top of the Bart and wait for the dump to rebuy more corn...

Will I do it? Probably not. Why? 1. I'm a hardcore HoDLer. 2. I'm very unlucky in trading, when I sell at the top of the Bart, it will turn out to be the bottom of the mega-FOMO rise we are all waiting for...

tl;dr: HoDL.

Exactly.. hodl..

There is no such thing as selling at the top of the bart, except for looking at the bart on the chart after the fact, and saying that is when you should have sold.

In other words... like you already said (besides the theoretical waxing and waning) hodl.. You dummy.    

[Paashaas]

Golly

I guess these alts really can go to zero.

Which one(s)? 

We have a lot of zombie coins, that's for sure.

Scammer Vitalik wants to scale ETH on the bCash chain temporary until ETH 2.0 arrives.

If this doesn't ring any alams bells towards the bag holders greater fools...

ETH 2.0?

[realr0ach]

Peter Schiff published a moving memorial speech about his Dad Irwin.

https://schiffgold.com/commentaries/death-of-a-patriot/

Sorry I am going to call this out. This will be a highly unpopular post.

Dying chained to a hospital bed because you refuse to pay federal taxes is not the act of a patriot.

It is an act of greed, foolishness and stubbornness.  

Far more likely that instead of the govt collapsing from people refusing to pay taxes, it collapses because the govt can too easily levy taxes through inflation, finally resulting in collapse through hyperinflation.  Instead of a simple downsizing in govt, you get a full implosion because accountability in spending is a tragedy of the commons for a govt that controls the monetary system.

[Krubster]

The news releasing today of what they known about for over a year is a little concerning. Wouldnt you agree?  
But still those hackers are in possession of all those customers information including government issued ids including passports which are good for 10 years!
Price of bitcoin is showing the sediment of those who are selling on binance so to get their funds off of there and close their accounts.

Yes, I do agree it's concerning. And devastating for the people affected. However, this isn't the first time this is covered by the media. It has been reported back in January this year.
https://decrypt.co/4648/binance-kraken-exchange-data-haul
According to that article, this database has been in circulation for about a year (from today) on various darknet sites.

My guess is that someone has bought this database on one of the darknet markets in an attempt to extort Binance of money.

But this hack didn't happen recently, and most likely Binance wasn't hacked at all in the first time. Possibly a 3rd party who handled the KYC documents at the time of the breach.

Here's a statement from Binance earlier today

Dear Binancians,

We would like to inform you that an unidentified individual has threatened and harassed us, demanding 300 BTC in exchange for withholding 10,000 photos that bear similarity to Binance KYC data. We are still investigating this case for legitimacy and relevancy. After refusing to cooperate and continuing with this extortion, this individual has begun distributing the data to the public and to media outlets.

First and foremost, there are inconsistencies when comparing this data to the data in our system. At the present time, no evidence has been supplied that indicates any KYC images have been obtained from Binance, as these images do not contain the digital watermark imprinted by our system. With that said, our security team is hard at work pursuing all possible leads in an attempt to identify the source of these images.

On initial review of the images made public, they all appear to be dated from February of 2018, at which time Binance had contracted a third-party vendor for KYC verification in order to handle the high volume of requests at that time. Currently, we are investigating with the third-party vendor for more information. We are continuing to investigate and will keep you informed.

We believe this is the same data set that was covered in previous news articles, such as: https://decrypt.co/4648/binance-kraken-exchange-data-haul. The hacker also claims he has KYC information from multiple exchanges. When asked to prove the source of the data, the individual demanded 300 BTC and refused to supply irrefutable evidence of their findings. Later, they went to the press under false pretenses, posing as a white hat with good intentions. The relevant law enforcement agencies have been contacted and we will be working closely with them to pursue this person.

If you are able to provide any information to help identify this person and allow us to pursue the individual through legal action, we will offer a reward of up to 25 BTC, dependent on the relevance of the data supplied. You may submit this information by opening a support ticket at https://support.binance.com.

Lastly, unrelated to this, please be wary of any fraudsters who may impersonate Binance customer service and request you to withdraw your funds.

Please remember that protecting our users’ privacy and keeping our systems secure, including the funds stored within, is our utmost priority. We have numerous measures in place to ensure the safe-keeping of our users’ information, and we will continue to maintain the highest degree of transparency while serving our community.

We will keep all of you updated with any developments throughout our investigation and we are grateful for your continued trust and support.

Binance Security Team

2019/08/07

https://www.binance.com/en/blog/365766157488967680/Statement-on-False-KYC-Leak

[Bitcoin Smith]

Golly

I guess these alts really can go to zero.

Which one(s)? 

We have a lot of zombie coins, that's for sure.

One seems to be BCH.

[btcbeliever]

Peter Schiff published a moving memorial speech about his Dad Irwin.

https://schiffgold.com/commentaries/death-of-a-patriot/

Sorry I am going to call this out. This will be a highly unpopular post.

Dying chained to a hospital bed because you refuse to pay federal taxes is not the act of a patriot.

It is an act of greed, foolishness and stubbornness.  

Far more likely that instead of the govt collapsing from people refusing to pay taxes, it collapses because the govt can too easily levy taxes through inflation, finally resulting in collapse through hyperinflation.  Instead of a simple downsizing in govt, you get a full implosion because accountability in spending is a tragedy of the commons for a govt that controls the monetary system.

Roach I totally agree, the real tax is the creation of that to finance the debt.  Income tax is merelly a tool of govt control and communist redistribution

[btcbeliever]

It was interesting to learn than Schiff's dad, Irwin, died in prison 3 years ago as part of his protest/boycott on federal income tax.

Fascinating. I had no idea they were related.

Peter Schiff published a moving memorial speech about his Dad Irwin.

https://schiffgold.com/commentaries/death-of-a-patriot/

Sorry I am going to call this out. This will be a highly unpopular post.

Dying chained to a hospital bed because you refuse to pay federal taxes is not the act of a patriot.

It is an act of greed, foolishness and stubbornness.  

Here is some great educational reading: https://www.paynoincometax.com/federalmafia.htm

Given he died in prison, maybe not such a good idea to follow his advice. 

Would you say the same of tank man at Tiennaman square?
Read Irwin s books, it's all documented truth  https://www.paynoincometax.com/federalmafia.htm

[Torque]

People like Martin Armstrong claim the govt is going to go ballistic trying to shakedown citizens for huge taxes and steal all their money in nefarious ways.  That's complete nonsense.  The common citizen has zero money to steal.  You can't get blood from a stone.  Their only option is for the govt to raid billionaires at places like Apple, Google, and Amazon because they accumulated all the money, but it will never happen because they're connected and have their money offshore anyway.  So print to Zimbabwe it is (or go back to metals as money because this is the end).

Actually they're already doing it, but not through higher taxes. It's by forcing higher debt and higher cost on to citizens by raising the price of everything they have to have, while keeping wages flat. College education up 3X in 10 years. House prices up 2-3X in 10 years. Car prices up 2X in 10 years. Smart phones up 5X in 10 years. Health Insurance up 3X in 10 years. Gas prices rising again. Electricity, natural gas doubled in 10 years. All while wages are stagnant or falling over the same period. The only thing they've managed to keep a lid on somewhat is food prices, because food is not based on long term debt that they can get interest from (ie., no one goes out and gets a long term loan for food). Margins on food is minuscule. Also food has a breaking point where you can't raise prices beyond (people will just grow it locally if it becomes too expensive).

People need to wake up! When equities, real estate, collectibles, cars, smart phones, energy, insurance, PMs, Bitcoin are all up higher and higher YoY at the same time wages are going south, economies are crumbling, retail is crumbling, and we have mass layoffs, it means that we are in a fkn melt up! Slow road to hyper inflation. How soon until it picks up speed?

[jbreher]

It was interesting to learn than Schiff's dad, Irwin, died in prison 3 years ago as part of his protest/boycott on federal income tax.

Fascinating. I had no idea they were related.

Peter Schiff published a moving memorial speech about his Dad Irwin.

https://schiffgold.com/commentaries/death-of-a-patriot/

Sorry I am going to call this out. This will be a highly unpopular post.

Dying chained to a hospital bed because you refuse to pay federal taxes is not the act of a patriot.

It is an act of greed, foolishness and stubbornness.  

If you have not read the evidence (I gather you have not), you may wish to retract your claim.

I have read the Code. I have read the legislative register. In contrast to what the IRS claims, there is no law nor regulation which subjects the regular income of US persons to an assessment of income tax.

Of course, the IRS claims differently. As was once famously said (Voltaire?) It is dangerous to be correct when your government is incorrect. So I have stopped tilting at that particular windmill, and pay according the illegal assessment as per the various 1040 forms. And reel in disgust each time.

[600watt]

Golly

I guess these alts really can go to zero.

Which one(s)? 

We have a lot of zombie coins, that's for sure.

we live in times of ZIRP & NIRP, so I guess these shitcoins might as well go sub zero, too. 

[rdbase]

Bitcoin down and gold $1488.  A sign from the gods.

What gods? The jews who control the gold market?

Revenge for the Nazis for stealing their gold and claiming as their own during WWII maybe?
They made a killing off of it in the 2000s.
No wonder Germany is not affected by this reccession.
Even Chinas Yen is hurting right now.

[JayJuanGee]

Golly

I guess these alts really can go to zero.

Which one(s)? 

We have a lot of zombie coins, that's for sure.

Scammer Vitalik wants to scale ETH on the bCash chain temporary until ETH 2.0 arrives.

If this doesn't ring any alams bells towards the bag holders greater fools...

ETH 2.0?

Do you have a link to such a suggestion to put ETH on bcash.. I thought that was just a joke or FUD rather than real considerations.

Would not put anything past those various dweebs, and it may be good for some of them to band together in their efforts to pool resources, and brains against the foundational superiority of king-daddy bitcoin.

[HairyMaclairy]

It was interesting to learn than Schiff's dad, Irwin, died in prison 3 years ago as part of his protest/boycott on federal income tax.

Fascinating. I had no idea they were related.

Peter Schiff published a moving memorial speech about his Dad Irwin.

https://schiffgold.com/commentaries/death-of-a-patriot/

Sorry I am going to call this out. This will be a highly unpopular post.

Dying chained to a hospital bed because you refuse to pay federal taxes is not the act of a patriot.

It is an act of greed, foolishness and stubbornness.  

If you have not read the evidence (I gather you have not), you may wish to retract your claim.

I have read the Code. I have read the legislative register. In contrast to what the IRS claims, there is no law nor regulation which subjects the regular income of US persons to an assessment of income tax.

Of course, the IRS claims differently. As was once famously said (Voltaire?) It is dangerous to be correct when your government is incorrect. So I have stopped tilting at that particular windmill, and pay according the illegal assessment as per the various 1040 forms. And reel in disgust each time.

Dude. 16th Amendment, followed by the Revenue Act of 1913?

I googled that in less than 10 seconds.

Edit:  here is the text of the 16th Amendment

The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.

[rdbase]

Golly

I guess these alts really can go to zero.

Which one(s)?  

We have a lot of zombie coins, that's for sure.

Scammer Vitalik wants to scale ETH on the bCash chain temporary until ETH 2.0 arrives.

If this doesn't ring any alams bells towards the bag holders greater fools...

ETH 2.0?

Saw this a while ago and just laughed!

Ethereum development is just too slow.
Have moved on to another coin which has been going full tilt and even transitioning to the ethereum blockchain so to make it even more accessible to those who dont like the current chain which it is on.
Ethereum will be dead in the next two years. Vitalik is using old world thinking in this crypto age.

[STT]

Like the political horseshoe of far left and far right extremes in politics, to me the hyper inflationary and the debt default leading to deflation seems very similar in wiping out the common people.    It doesnt exactly matter when the simple take is they cannot repay that amount of debt.  The potential interest rates payable within the average term of 4 years is enough to require the entire budget purely on debt servicing.   I agree the average person hasnt got the wealth to tax but things can certainly get very unpleasant.

Their only option is for the govt to raid billionaires at places like Apple, Google, and Amazon because they accumulated all the money, but it will never happen because they're connected and have their money offshore anyway.  

This isnt going to happen or it shouldnt because it would be very foolish.    Apple is a non fab manufacturer, there isnt a giant amount of physical assets to seize.  Not really, not in comparison to the market cap they command.   The wealth all these companies have is brand and Intellectual property, this is very hard to seize and they can and will just move overseas.

[HairyMaclairy]

It was interesting to learn than Schiff's dad, Irwin, died in prison 3 years ago as part of his protest/boycott on federal income tax.

Fascinating. I had no idea they were related.

Peter Schiff published a moving memorial speech about his Dad Irwin.

https://schiffgold.com/commentaries/death-of-a-patriot/

Sorry I am going to call this out. This will be a highly unpopular post.

Dying chained to a hospital bed because you refuse to pay federal taxes is not the act of a patriot.

It is an act of greed, foolishness and stubbornness.  

Here is some great educational reading: https://www.paynoincometax.com/federalmafia.htm

Given he died in prison, maybe not such a good idea to follow his advice. 

Would you say the same of tank man at Tiennaman square?
Read Irwin s books, it's all documented truth  https://www.paynoincometax.com/federalmafia.htm

I’ll make you a deal.  Find one original great concept / idea / principle in that book and quote it with a page reference from the pdf.   If it is not drivel, I will read it.  But I sincerely doubt there is anything but self serving drivel and right wing conspiracy theories in that book.

[600watt]

wtf those dumps?

who is trying to lose money here on purpose?

in addition they get weaker and weaker. if price manages to get a break out instead of a fake out it will be epic.


disclaimer: I have panic sold 8% of my stash end of june. with all those up and downs i got lost when to buy back or if at all or not. i thought we are going down to sub $8k and cannot really believe in new yearly highs. but there is some real bullishness and it makes me wonder.

tldr: as always, no clue other than hodl and enjoy the show.

[JayJuanGee]

Golly

I guess these alts really can go to zero.

Which one(s)?  

We have a lot of zombie coins, that's for sure.

One seems to be BCH.

There is waxing and waning in levels of enthusiasm, but can we really call anything in the top 100 or so to be zombie coins, even if zombie status is their ultimate destination?  

A top 100 coin has $43 million of market cap value.  A top 14 coin has more than $1billion... Those are hardly zombie status, yet, right?

There are more than a couple thousand coins listed on coin market cap, but there are other coins that are not listed on there, too.

Golly

I guess these alts really can go to zero.

Which one(s)?  

We have a lot of zombie coins, that's for sure.

we live in times of ZIRP & NIRP, so I guess these shitcoins might as well go sub zero, too.  

If they actually go to zero, then that's gotta be it, no?  I understand sub-zero, but really we have to have some kind of limits, don't we?   (I am talking about the royal we here because surely I am not sure if there is any other we that exists besides the weeeeee weeee).

[cAPSLOCK]

Aight.  Here we are knocking at the top of the channel for the THIRD time in 2 days...  What do they say about third times?