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

[jbreher]

you have no fear that CSWs insane mind will finish its decent into lunacy and utterly destroying whatever you think bsv is?

No. Users are not forced to accept new versions of SW. Anyone is free to continue using the previously existing version. This nullifies any threat.

Of course, it is likely that nChain is a significant miner, which does lead to some exposure in this regard. But Craig does not hold exclusive chains of power in that organization, and others there are not suicidal. So, somewhat mitigated.

does csw know about this?

he would most likely sue them and take his own devs to court if they ignore his decisions. or split from bsv if they dont listen. just extrapolating this on observed past behavior.

anyway as you say they dont have to follow so it will be intersting as to how long bsv puts up with him.

Seems like the writing is on the wall, CSW becoming a toxic liability and the new BSv directive is to pivot and try to separate BSv from CSW, shills are out in force trying to push this. We should all support CSW in his efforts to sue Ayre for libel. BOSSv (Bitcoin Original Satoshi Super Vision) sounds better too.

Where do you get this tripe?

<snip regurgitation of scads of quotes of a single person>

Great. Yet none of the above supports your claim that "CSW becoming a toxic liability and the new BSv directive is to pivot and try to separate BSv from CSW". Nor that "shills are out in force trying to push this". Why don't we focus on your claim before diverting to an entirely different topic?

Ayre (the person who pretty much owns Faketoshi) is just a single person in BSv world?

Again - none of your Ayre quotes support the assertion that there is a pivot to 'unseat' Craig by the 'BSV powers that be'.

IOW you are completely misrepresenting the scant 'evidence' you presume to be bringing forth.

[jbreher]

Tether Launches Gold-Backed Stablecoin and Begins Trading on Bitfinex

Great. Tether -- that entity that 100% fully backed their shitcoin with USD dollar reserves -- until we all found out they had been lying about it the whole time -- now has another 'fully gold backed' sister shitcoin. What could go wrong?

[xhomerx10]

Some tittle tattle...  

QuadrugaX money possibly held at Crypto Capital, the dodgy Panama bank that has Finex cash?

https://btcmanager.com/quadrigacx-funds-crypto-capital/?q=/quadrigacx-funds-crypto-capital/&

 Here's the e-mail:

Affected Users:
Representative Counsel has received information that a Panamanian shadow bank, Crypto Capital Corp. (“Crypto Capital”), may have been a payment processor for Quadriga in the final quarter of its operation. Representative Counsel has been investigating, since its appointment, whether any Quadriga funds were potentially retained by Crypto Capital.

Crypto Capital and its executives are currently being investigated by the U.S. Department of Justice. The original indictment can be read here. Polish authorities have seized Crypto Capital bank accounts, amounting to approximately $350 million, in an investigation relating to alleged laundered drug cartel funds. Bitfinex, another cryptocurrency exchange, has asserted that it was defrauded by Crypto Capital. Through its parent corporation iFinex Inc., it has claimed right to these seized assets via ongoing U.S. proceedings (case: 8:19-mc-00021 in the United District Court for the Central District of California). iFinex Inc. has also filed claims in the Judicial Court of Western Lisbon (Portugal) and a “Norwich Pharmacal” disclosure request with the Business and Property Courts of England and Wales, regarding Crypto Capital-controlled accounts in Portugal and the United Kingdom.

As you are aware, Ernst & Young Inc. (the “Trustee”) has been unable to locate QuadrigaCX’s basic corporate records or accounting records. As a result, Representative Counsel is asking Affected Users for assistance on this matter to uncover whether Crypto Capital held Quadriga funds.

Representative Counsel asks all Affected Users to forward the following to quadrigacx@millerthomson.com:

1. Any emails with Crypto Capital or Crypto Capital representatives (ex. contact@cryptocapital.co) regarding Quadriga funds;

2. Any financial statements showing interaction with the Polish bank accounts Crypto SP. Z O.O. and NESP SP. Z O.O. at Bank Spoldzielczy in Skierniewice, Poland;

3. Any financial statements showing interaction with Crypto Capital-controlled Portugese bank accounts at Banco Portugues de Investimento, Bankinter, S.A., and Caixa Geral de Depositos S.A.;

4. Any financial statements showing interaction with Crypto Capital-controlled U.K. bank accounts;

5. Any financial statements showing interaction with any TCA Bancorp-controlled bank account;

6. Any correspondence discussing Quadriga funds with the below individuals and entities, as cited in ongoing Bitfinex proceedings:

Reginald Dennis Fowler;

Trent Dennis Fowler;

Other principals and key personnel of Crypto Capital including:

Ozzie Yosef;

Ravid Yosef;

Ivan Manuel Molina Lee;

Crypto Capital Corp.;

Global Trade Solutions AG;

Global Trading Solutions LLC;

G.T.S. Resources Limited;

NLE Consulting Group;

TCA Investment Bancorp & Trust Company;

Spiral Global Development Limited;

Legacy Benefits Holdings Limited;Legacy Benefits Holdings (UK) Limited;

Individuals involved with TCA Investment Bancorp & Trust Company, including:

Katsuyoshi Iwanaga;

Diane Fletcher;

David Anthony Stafford;

Rondell Monroe; and

7. Any other correspondence or financial records relating to Quadriga funds and Crypto Capital that could assist Representative Counsel.

Representative Counsel thanks the Affected Users for their assistance on this matter.

[makrospex]

One short visit to META and what did I see....

we are in www.merittalk.org aren't we ??

I still think its bitcointalk.org though some are seeing it differently and I know many thinking the same (again some new merit threads and stats)

Now please send me Merit for my fine and extremely useful thread/topic

Actually there should be a new board like merit>> Stats & graphs, merit discussion, merit abuse, merit source applications etc

Guarantee who makes a fine thread will gain lots of merit   

Yeah, some of the stuff in Meta is boring AF.

There’s a hell of a lot of Merit whoring via boring statistical threads that goes on there.

On the other hand, there is nothing more less important (at least for me) than merit on bitcointalk.org.
When one is asking for merit, he's just showing strong signs of an extremely low character.
I just feel sorry for people like these.

Instead, look at fillippone and his selfless contributions to this board, which were not even asked for by anyone.
The merit themselves are of absolute novalue. Their value is defined by HOW somebody got them.

[hv_]

Tether Launches Gold-Backed Stablecoin and Begins Trading on Bitfinex

Great. Tether -- that entity that 100% fully backed their shitcoin with USD dollar reserves -- until we all found out they had been lying about it the whole time -- now has another 'fully gold backed' sister shitcoin. What could go wrong?

The definition of a lie seems to differ within btcPonziHodlers.

So what

All SAFU

 

[kurious]

Thanks xhomerx10...

I do wonder if any of the poor sods who lost out will ever get a penny, but you never know...

[xhomerx10]

Thanks xhomerx10...

I do wonder if any of the poor sods who lost out will ever get a penny, but you never know...

 Being a poor sod myself, I'm not holding out much hope.  If it weren't for JBreher giving me the heads up about Proof-of-keys day (January 3rd) I would certainly have lost much more than I did.  I believe the exchange was shut down less than 2 weeks after the proof-of-keys day.

 QuadrigaCX was taking out ads in at least one of my local papers (and it's a major newspaper) which gave it an air of legitimacy in my mind...  I learned a valuable (or rather, an expensive) lesson.

[LFC_Bitcoin]

Somewhere....
Some time in 2021....
(Click the link)


@KennethBosak
When she tells her friends, I'm into Bitcoin:
https://twitter.com/kennethbosak/status/1220689251743997955?s=21

[BitcoinGirl.Club]

Good evening WO!
Observing @ $8,466

How are we all doing by the way?

[mindrust]

Good evening WO!
Observing @ $8,466

How are we all doing by the way?

Not cheap enough to make me go all in, not expensive enough to make me go all out.

Same as ever.

[jojo69]

... If it weren't for JBreher giving me the heads up about Proof-of-keys day (January 3rd) I would certainly have lost much more than I did. ...

wow

[Hueristic]

Why it would go up please? I don't understand...

Cos it's BTC.

What do you mean? It's something that goes up with no reason? Till which level?

A deflationary currency in an inflationary economic model should increase in value infinitum.

[becoin]

Why it would go up please? I don't understand...

Cos it's BTC.

What do you mean? It's something that goes up with no reason? Till which level?

It is not bitcon that goes up. Bitcoin stays steady on its course since 2009. It is dollar that goes down. Till which level? Well, depends how many trillions of new dollars will Fed print.

[jojo69]

Quick personal story on how luck works.  I'm pretty sure other people will recognize the basic principle in play here.

Girl's car had been running on 3 cyl for a while, burnt exhaust valve on #3.  Bought a running parts car at auction, had been severely totalled in the ass end, spent my whole yuletide time off swapping in that motor.

Everything was great, ran strong, good mileage, happy girl.

Last weekend we had a show in a neighboring city, 250 Km drive, took that car, everything's great, good show, visit friends the next morning then drive back...about 1/3 of the way home #1 rod lets loose and grenades out the side of the block...

Bass player was still behind us a ways towing the gear, so we had peeps, get to thinking, we are broke down right by the exit to the town where the band that invited us lives.  Call them, sure no problem, dump it at his house, we have basic AAA so free 5 mile tow, his house is 4.8 miles.

Girl upgrades AAA for $40, gets you free 100 mile tow, his house to our house...95 miles.

This is how my luck works...massive kicks in nuts, but you get a cookie...

Just got the POS back on my pad, I'm ready to be rich now.

[martyMC]

Why it would go up please? I don't understand...

Cos it's BTC.

What do you mean? It's something that goes up with no reason? Till which level?

A deflationary currency in an inflationary economic model should increase in value infinitum.

Why Bitcoin would be indefinitely deflationary?  I don't understand.
It was deflationary only because its price and its market were growing. But now that almost everyone on earth has heard of it, there is no reason for growing and being deflationary anymore.

[Hueristic]

Tether Launches Gold-Backed Stablecoin and Begins Trading on Bitfinex

Tether is now supporting a gold-backed stablecoin, Tether Gold (XAU₮), according to a Jan. 23 press release. One token represents ownership of one troy fine ounce of physical gold, currently worth approximately $1,550.

The new product is available as an ERC-20 token on the Ethereum blockchain, as well as a TRC20 token on Tron (TRX).

The funds are said to be backed by physical gold held in a “Switzerland vault,” the press release reads. According to Tether, its gold offering is the only product among its competition that does not charge custody fees.

https://cointelegraph.com/news/tether-launches-gold-backed-stablecoin-and-begins-trading-on-bitfinex

This is for our little WO troll, it's a 100x100 safe business.
Gold-backed Tether, which may fail...

Where can I short this shit.

[Biodom]

Why it would go up please? I don't understand...

Cos it's BTC.

What do you mean? It's something that goes up with no reason? Till which level?

A deflationary currency in an inflationary economic model should increase in value infinitum.

Why Bitcoin would be indefinitely deflationary?   I don't understand.
It was deflationary only because its price and its market were growing. But now that almost everyone on earth has heard of it, there is no reason for growing and being deflationary anymore.

That's NOT what it means to be deflationary.
It is deflationary because the unit number is limited to 21 mil max issued and that number is already smaller and decreasing because of the losses (lost wallet, thrown away hard drive, etc.). Lost bitcoin is not being replaced. In time, total number of accessible units will be declining, hence deflationary.
However, right now it is still mildly inflationary. Currently, btc inflation is about 3.6% on a yearly basis, will drop to less than 1.8% in May.

[ivomm]

-snip-
... I would rather just go up from here, but seems like there exists some short term down momentum... how low it will go remains another to be determined matter.

Why it would go up please? I don't understand...

You sound a bit like a troll asking such a terse question, but for now, I will give you some benefit of the doubt, since I don't recognize your user name or having had posted in these here parts, previously.

In the short-term, we cannot always determine exactly BTC's price direction, and there is a bit of an inclination that BTC's price continues to move in the direction of the momentum that it already has until it no longer does.

Regarding BTC's medium to long term price, the pressure remains UP, and you can look at BTC price prediction models and information related to those price models which would include: 1) stock to flow, 2) four-year fractal, 3) metcalfe's law and networking effects pertaining to s-curve exponential adoption and 4) other similar models.  

If you do not understand the meaning of these models and you believe that they are purely theoretical, then likely you need to do more studying of bitcoin.  Surely there is a decent amount of truth that past performance of any asset does not guarantee future performance, and none of the price prediction models that I listed really rely on BTC's past performance, but past performance remains helpful to them in analyzing the models and where we are at in terms of those various price prediction models (looking at either time or price).

Do you have any other models or theories?  Do you believe that BTC prices are going down or going to stay flat in the coming 1-3 years?  How about 5 years?  What do you expect?

 I am frequently asserting that nothing is guaranteed, including bitcoin, but even if the price direction of bitcoin is far from guaranteed, there remains a decent amount of strong evidence that any person that takes bitcoin seriously and puts a bit of their assets into bitcoin, such as 1-10% of their investible assets are likely in a good starting place, even though individuals are going to vary in terms of some of their financial abilities or even assets that they might have available and able to invest in bitcoin.  

In any event, bitcoin seems to be a very asymmetric bet, towards the upside... so good luck to anyone who has NOT yet come around to understanding the asymmetric bet concept... you (lacking in understanding peeps) are going to need it (meaning luck).

Why it would go up please? I don't understand...

Cos it's BTC.
(btw, JJG didn't say that)

You seem to be suffering from the shitcoin syndrome.
Wish you a quick recovery.

True dat!!!   martyMC seems to have been engaging in a bit of a twisting of words, and maybe I should have restrained my lil selfie from taking the bait... I see that with some of his continued stupid-ass posts on the topic that do not really seem to add any value, just ask dumbass questions as if we were in 2011 when hardly anyone understood bitcoin, at all.    We are NO longer in those earlier days, so excuses for ignorance are NOT as acceptable... even though I do accept that there are genuinely a lot of people in the world who are quite susceptible to misinformation and disinformation regarding bitcoin because they do not know enough about the topic.

So you really think there is an unlimited free lunch for Bitcoin holders?
Everyone buying and holding at any price will win free money... indefinitely...
So even the dumbest guy in the world just need to buy bitcoin and sit down to earn money? He just need to wait to beat the market and steal money from professional traders?  
What about all the people who bought Bitcoin 2 years ago? How much did they earn as of now?

Basically, you are saying that if the price is temporatily falling, this is the end of the road. Any arguments about that? For example a comparison between the current market cap with other assets (like gold), or mass adoption progress (the number of addresses or people with positive balance), or the yearly inflation rate (related to the supply which is cut in half each four years)? If you can't prove that all these parameters are at the absolute maximum, these statement of yours are just a high school trash talk.

Obviously, you are just one of the many narrow sighted n00bs who came here, proud of your one or two lucky trades. You remind me of one Ph.D. student who had a report at a conference proudly boasting in front of specialists with 30+ year experience in math and computer sciences, that he'd worked in this area for 2 weeks and already achieved something big. His report was so elementary that the audience exploded in laughter when he boasted like this. I am just saying that your few %'s gains are not to be compared with the profit of any well established holder here. Many of us started investing in single and double digits.  I doubt you are able to calculate the profit in terms of %'s but give it a try. May be it will help you to compare it with your gains by trading. Most of us started in 3 digits, and fewer around 3-4K. We continued to buy even above 10K and there is nothing wrong with that.  

[martyMC]

A deflationary currency in an inflationary economic model should increase in value infinitum.

Why Bitcoin would be indefinitely deflationary?   I don't understand.
It was deflationary only because its price and its market were growing. But now that almost everyone on earth has heard of it, there is no reason for growing and being deflationary anymore.

That's NOT what it means to be deflationary.
It is deflationary because the unit number is limited to 21 mil max issued and that number is already smaller and decreasing because of the losses (lost wallet, thrown away hard drive, etc.). Lost bitcoin is not being replaced. In time, total number of accessible units will be declining, hence deflationary.
However, right now it is still mildly inflationary. Currently, btc inflation is about 3.6% on a yearly basis, will drop to less than 1.8% in May.

If it's still "inflationary" as you said, it doesn't explain its growth then.

[LFC_Bitcoin]

Anybody follow @satoshi_babe on Twitter?

Well worth a wank look!

https://twitter.com/satoshi_babe