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

[jojo69]

If the journalists are told to leave Hong Kong....




The challenge for the CCP is everyone is a journalist nowadays...

That is an illusion.  There are a finite number of fiber optic trunklines and uplink radios out of the island.  Nobody does HF radio any more, so no, civilians have the illusion of being connected when all they are connected to is a centralized system.

Good point.  Just shut down the cell towers. 

And it's not like you have to go around to each one.  There is a facility for each provider called the NOC; Network Operations Center.

The crackdown will not be televised.

[Biodom]

If the journalists are told to leave Hong Kong....




The challenge for the CCP is everyone is a journalist nowadays...

That is an illusion.  There are a finite number of fiber optic trunklines and uplink radios out of the island.  Nobody does HF radio any more, so no, civilians have the illusion of being connected when all they are connected to is a centralized system.

Good point.  Just shut down the cell towers.  

And it's not like you have to go around to each one.  There is a facility for each provider called the NOC; Network Operations Center.

The crackdown will not be televised.

I am throwing up in my mouth a little after reading all these theoretical suggestions on how to suppress dissent.

[degxtra1]

If we can hold this level around $10,300 for two more hours, we should get a nice relief rally tomorrow

it's confirmed, prepare for next rally

[cAPSLOCK]

If we can hold this level around $10,300 for two more hours, we should get a nice relief rally tomorrow

short or no wick on the green daily by then, i hope.
If the dip was caused by that chinese scam, i'd see no real arguments against continued uptrend.

The dip wasn’t caused by the Chinese scam.  It’s the other way around.

The charts were technically setting up for a nice dip.  A bunch of traders opened short positions.  Someone spun up a bullshit narrative to sell the story of the dip. Loomdart spread it around.  Every good crash need a good story.

We got a disappointingly small dip, which shows the strength of the market.  

The dip caused the FUD. Know the difference

Funny you mention loomdart. I unfollowed him with prejudice just earlier today. 

Nothing last forever.

[HairyMaclairy]

If we can hold this level around $10,300 for two more hours, we should get a nice relief rally tomorrow

short or no wick on the green daily by then, i hope.
If the dip was caused by that chinese scam, i'd see no real arguments against continued uptrend.

The dip wasn’t caused by the Chinese scam.  It’s the other way around.

The charts were technically setting up for a nice dip.  A bunch of traders opened short positions.  Someone spun up a bullshit narrative to sell the story of the dip. Loomdart spread it around.  Every good crash need a good story.

We got a disappointingly small dip, which shows the strength of the market.  

The dip caused the FUD. Know the difference

Funny you mention loomdart. I unfollowed him with prejudice just earlier today.  

Nothing last forever.

Here’s Loomdart’s supposed short entry at $10,486. Dated August 16 so he’s a bit late to the party. Shame that. Would hate for him to be stopped out at $10,630. 

[Bitcoinaire]

It's only a matter of time. Big time money is flowing in, under the radar!

Whether institutions were going to adopt crypto or not was an open question about 12 months ago. I think it's safe to say we now know the answer. We're seeing $200-400M a week in new crypto deposits come in from institutional customers.

https://twitter.com/brian_armstrong/status/1162185049699057664

[HairyMaclairy]

It's only a matter of time. Big time money is flowing in, under the radar!

Whether institutions were going to adopt crypto or not was an open question about 12 months ago. I think it's safe to say we now know the answer. We're seeing $200-400M a week in new crypto deposits come in from institutional customers.

https://twitter.com/brian_armstrong/status/1162185049699057664

I would love this to be true but Brian Armstrong is completely full of shit

[Bitcoinaire]

It's only a matter of time. Big time money is flowing in, under the radar!

Whether institutions were going to adopt crypto or not was an open question about 12 months ago. I think it's safe to say we now know the answer. We're seeing $200-400M a week in new crypto deposits come in from institutional customers.

https://twitter.com/brian_armstrong/status/1162185049699057664

I would love this to be true but Brian Armstrong is completely full of shit

As bad as novogratz?

[Icygreen]

Hopefully Armstrong was just late to the party delivering bullish news  and we've seen the bottom. J. Dimon took this one again it appears.
Ah, whatever.. Happy to see even lower prices if need be but I'm not sure I'll get the chance. Sold nothing, solid 100% HODL

[bkbirge]

I am throwing up in my mouth a little after reading all these theoretical suggestions on how to suppress dissent.

Our entire much-praised technological progress, and civilization generally, could be compared to an axe in the hand of a pathological criminal. - Albert Einstein

and even more chilling...
People will come to love their oppression, to adore the technologies that undo their capacities to think. - Aldous Huxley

[HairyMaclairy]

It's only a matter of time. Big time money is flowing in, under the radar!

Whether institutions were going to adopt crypto or not was an open question about 12 months ago. I think it's safe to say we now know the answer. We're seeing $200-400M a week in new crypto deposits come in from institutional customers.

https://twitter.com/brian_armstrong/status/1162185049699057664

I would love this to be true but Brian Armstrong is completely full of shit

As bad as novogratz?

There are 1800 Bitcoins mined per day.  1800 x 7 x 10,000 = US$126 million per week in supply.

That means for the Bitcoin price to stabilize around US$10k, global net inflows have to be around US$126 million in all categories, for both institutional and retail in every market around the world.  

There just isn’t room for US based institutional investors to spend US$200 - $400 million per week without significantly pushing up the price, unless whales are dumping.  Whales aren’t stupid - they know the halvening is coming. And we know Bitmain’s pockets are empty.

So Brian is probably exaggerating by a factor of ten.  In fact, they may not have any institutional investment at all given their cowboy history of insider trading.

[nanobtc]

Hi all, I am a full month behind on btc-talk (I am so ashamed, I had been doing it constantly for years). Technical difficulties in the local LAN thing.Practical difficulties in the life thing.

More about me:

I quit my job.
Got a better one. (it turns out, the new job is with a company from 1911, it has BLOCKCHAIN as a buzzword. hmm, I have heard of that one)

My parents are really old, and need help.
I am clearing out decades of crap (er, I mean, SOLID GOLD, VALUABLE/RARE TREASURES)

I quit playing live music to help my parents. I clocked 450 4 hours gigs, in 6 years.

It will take several more months to get shit re-arranged. Miss you all (even JJG. Sort of).

I am a million/billion pages behind, it will take me months to catch up here.

[jojo69]

Nanobtc

You are a good son.

You are absolved of your WO obligations.

Go in peace.

[cAPSLOCK]

It's only a matter of time. Big time money is flowing in, under the radar!

Whether institutions were going to adopt crypto or not was an open question about 12 months ago. I think it's safe to say we now know the answer. We're seeing $200-400M a week in new crypto deposits come in from institutional customers.

https://twitter.com/brian_armstrong/status/1162185049699057664

I would love this to be true but Brian Armstrong is completely full of shit

As bad as novogratz?

There are 1800 Bitcoins mined per day.  1800 x 7 x 10,000 = US$126 million per week in supply.

That means for the Bitcoin price to stabilize around US$10k, global net inflows have to be around US$126 million in all categories, for both institutional and retail in every market around the world.  

There just isn’t room for US based institutional investors to spend US$200 - $400 million per week without significantly pushing up the price, unless whales are dumping.  Whales aren’t stupid - they know the halvening is coming. And we know Bitmain’s pockets are empty.

So Brian is probably exaggerating by a factor of ten.  In fact, they may not have any institutional investment at all given their cowboy history of insider trading.

Armstrong... Xxxx him. I can't remember the last time he said the word "bitcoin". And I'm not a purist maximalist. But maybe some of the 400mm inflow is buying whatever those alphabet soup shitcoins  he keeps adding are.  That Xxxhole is not helping " crypto " much less bitcoin.

[Hueristic]

Financial conduct authority UK - Crypto

https://www.fca.org.uk/publications/policy-statements/ps19-22-guidance-cryptoassets

That was a long read - but it seems pretty to take a pretty reasonable approach.  They ain't gonna ban a thing, and Bitcoin and similar crypto currencies are not going to be regulated at all in themselves.

Nice spot, Globb0!

Cool, you answered my question before i could post it.

Financial conduct authority UK - Crypto

https://www.fca.org.uk/publications/policy-statements/ps19-22-guidance-cryptoassets

So what does this mean for the end user?

Accusations against GE:
https://www.cnbc.com/2019/08/15/heres-the-full-report-calling-ge-a-bigger-fraud-than-enron.html

Wow, it used to be such an icon until about 2000.

I was a senior hardware engineer there in 96, got out just in time i guess.

[VB1001]

Crypto Exchange Coinbase Acquires Xapo’s Institutional Custody Business

Cryptocurrency exchange Coinbase has acquired the institutional business of cryptocurrency wallet and custody service provider Xapo.

Coinbase said in an announcement on Thursday that the deal will help expand its custody business and will increase its assets under custody to be more than $7 billion.

According to a Fortune report on Thursday, Coinbase acquired Xapo’s institutional business for $55 million after beating another strong contender, the investment giant Fidelity.

https://www.coindesk.com/crypto-exchange-coinbase-acquires-xapos-institutional-custody-business

Good morning, nice, we are back above 10,000.

[Lambie Slayer]

We didnt get the kind of volume I was looking for yesterday in the relief rally for me to believe in it.

Expecting more down till I see a shitload of buyers(bargain boyz ) stepping up to the plate.

via Imgflip Meme Generator

 I dont know if the ponzi boyz are really dumping, but people dont seem really eager to buy corn when it dips sub 10k. I think 8k's will do the trick.

Also google trends getting back to april levels doesnt get me excited.

https://trends.google.com/trends/explore?geo=US&q=bitcoin

[VB1001]

If the journalists are told to leave Hong Kong....




The challenge for the CCP is everyone is a journalist nowadays...

That is an illusion.  There are a finite number of fiber optic trunklines and uplink radios out of the island.  Nobody does HF radio any more, so no, civilians have the illusion of being connected when all they are connected to is a centralized system.

In HF only radio amateurs remain.

[fillippone]

It's only a matter of time. Big time money is flowing in, under the radar!

Whether institutions were going to adopt crypto or not was an open question about 12 months ago. I think it's safe to say we now know the answer. We're seeing $200-400M a week in new crypto deposits come in from institutional customers.

https://twitter.com/brian_armstrong/status/1162185049699057664

I would love this to be true but Brian Armstrong is completely full of shit

As bad as novogratz?

There are 1800 Bitcoins mined per day.  1800 x 7 x 10,000 = US$126 million per week in supply.

That means for the Bitcoin price to stabilize around US$10k, global net inflows have to be around US$126 million in all categories, for both institutional and retail in every market around the world.  

There just isn’t room for US based institutional investors to spend US$200 - $400 million per week without significantly pushing up the price, unless whales are dumping.  Whales aren’t stupid - they know the halvening is coming. And we know Bitmain’s pockets are empty.

So Brian is probably exaggerating by a factor of ten.  In fact, they may not have any institutional investment at all given their cowboy history of insider trading.

He might be exaggerating for sure but:
1.Cash app is buying bitcoin like crazy, look my last monthly recap for this. It is already a good percentage of newly mined bitcoins.
2. Grayscale is buying too: quote premium over NAV is embarrassing. Institutional money is desperate to get exposure to bitcoin.
3.Yes halvening is coming and those buying stats are going to double overnight as a %age of mined bitcoins.

[Lambie Slayer]

I want to smoke Armstrongs hopium but I dont trust the Shitcoiner in Chief.