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

[JayJuanGee]

Tether is not exactly an altcoin.. but it does seem to be a liquidity vehicle and also a temporary means to either hold dollar value or to move dollar value without actually getting actual dollars.

Tether is (in most part, at this point) ETH based.

In any event, Tether does not seem to be a shitcoin in the sense that anyone would seem to want to pump it or dump it because it seems to largely remain pegged to the dollar within a percent or two, unless there is some kind of strange thing going on with it.

Surely, sometimes we have legitimately talked about tether in this thread, and surely some members have considered tether to either be a BIG ass scam or something that might end up being used to pump or dumb bitcoin or some other coin, so in that regard, there has been some historical discussion of that coin in its possible relationship with bitcoin, and I am familiar with more and more of tether being used in the ethereum (aka shitcoin) sphere.. so in that regard, there have been various argument being raised in terms of tether's relationship to shitcoin ethereum or if that change in tether's usage has any meaningful or significant effect on bitcoin whether platform or integrity risk, changes in liquidity or other risks, such as regulatory risk.

So, sure, even if tether has been more increasingly used in ethereum, it has not really gone away as a liquidity avenue in bitcoin whether we are talking about binance or bitfinex or other exchanges that had historically used tether but seem to have moved away from using tether / BTC pairs at this point.

[cAPSLOCK]

Tether is not exactly an altcoin.. but it does seem to be a liquidity vehicle and also a temporary means to either hold dollar value or to move dollar value without actually getting actual dollars.

Tether is (in most part, at this point) ETH based.

In any event, Tether does not seem to be a shitcoin in the sense that anyone would seem to want to pump it or dump it because it seems to largely remain pegged to the dollar within a percent or two, unless there is some kind of strange thing going on with it.

Surely, sometimes we have legitimately talked about tether in this thread, and surely some members have considered tether to either be a BIG ass scam or something that might end up being used to pump or dumb bitcoin or some other coin, so in that regard, there has been some historical discussion of that coin in its possible relationship with bitcoin, and I am familiar with more and more of tether being used in the ethereum (aka shitcoin) sphere.. so in that regard, there have been various argument being raised in terms of tether's relationship to shitcoin ethereum or if that change in tether's usage has any meaningful or significant effect on bitcoin whether platform or integrity risk, changes in liquidity or other risks, such as regulatory risk.

So, sure, even if tether has been more increasingly used in ethereum, it has not really gone away as a liquidity avenue in bitcoin whether we are talking about binance or bitfinex or other exchanges that had historically used tether but seem to have moved away from using tether / BTC pairs at this point.

Depending on the future Tether could turn out to be the biggest shitcoin ever based on my own definition.  (And I am not an anti-tether conspiracy theorist)

Tether may be the most centralized "crypto asset" that has ever been made.  I suppose the vomitous ripple gives it a run for it's ephemeral money.  But it might even have that beat.

It is "backed" by accounts on some island bank. ---  Boom.  Are there any more things that we need to say?

Yes, it price is *usually* pegged to the $, but that does not mean it's not traded like a shitcoin.  It is a blurry xerox of the ULTIMATE shitcoin.  It is a synthetic, dubiously backed USD which is what Bitcoin trades AGAINST.  That is why it's illusion of stability even exists.

Anyway... I think all that is worth saying... so I said it.

[JayJuanGee]

We could do with a bit of follow through on that last green dildo. Seems to have been a solitary candle. Hope we get a little more support and this isn't just a fakeout.
Don't get me wrong, I am hodling either way but hoping we can get this party started sooner rather than later. (I'm getting on a bit) ☺️

Me too!   I'm in my early 60's, probably got no time to wait 10-20, or even 5 years

Definitely, I hear you, btcbeliever, and there surely can be justification for transitioning into more of a liquidation phase, and in that regard, either bitcoin is not a very good investment for people who do not have a decently long time or the folks with the relatively shorter timelines need to consider taking a bit of a smaller position in bitcoin, due to its ongoing risk... that may be a bit much if the investor has a time line of less than 5 years and continues a bit disinclined to gamble with large portions of his/her investment portfolio holdings.

Of course, if a bitcoin investor is entering into his/her 60s, and s/he has already accumulated a fairly decent investment portfolio that has come close to already meeting his/her investment accumulation goals of $1million or $2million or some other personally set amount, then  it may not matter so much to the investor if s/he already has put (or has accumulated) a value of 5% to 10% into bitcoin which might be $50k to $200k or if the amount is even equal or greater than the other portion of the investment portfolio, such as having an additional $2million in bitcoin.. because even if bitcoin goes to zero, this particular hypothetical investor has already completely reached his/her investment goal in regard to his/her non-BTC portion of his/her investment portfolio..

There can be a considerable amount of variance in regards to figuring out if the BTC portion is causing unnecessary risk to the HODLer or if s/he should just let his/her investment portion ride - and of course there are incremental approaches to cashing out or reallocating which is one of my favorite ways of thinking about the matter - and Jimbo seems to have a similar approach to whatever portion of his portfolio happens to be in BTC too.. and some of that also could do with how long you have already held the BTC in terms of whether it is already profitable whether you cash out at our current $9,400 price or if you feel that you need higher prices, or even if you would be willing to cash out at $5k, if it seems that we cannot break out of the mid-4-digits.

We could do with a bit of follow through on that last green dildo. Seems to have been a solitary candle. Hope we get a little more support and this isn't just a fakeout.
Don't get me wrong, I am hodling either way but hoping we can get this party started sooner rather than later. (I'm getting on a bit) ☺️

Me too!   I'm in my early 60's, probably got no time to wait 10-20, or even 5 years

You’ll only have to wait 12-18 months for the next massive move.

I am pretty sure the move is imminent as you say LFC.
Retirement, here I come.

Surely, not guaranteed.. even though there are a lot of theories to support giving decent likelihood to such an exponential price rise in the next year or two at the latest... I personally would not gamble in that direction.. but that is my personal approach to these kinds of matters.

Call me a party poop... if you must. 

[JayJuanGee]

Tether is not exactly an altcoin.. but it does seem to be a liquidity vehicle and also a temporary means to either hold dollar value or to move dollar value without actually getting actual dollars.

Tether is (in most part, at this point) ETH based.

In any event, Tether does not seem to be a shitcoin in the sense that anyone would seem to want to pump it or dump it because it seems to largely remain pegged to the dollar within a percent or two, unless there is some kind of strange thing going on with it.

Surely, sometimes we have legitimately talked about tether in this thread, and surely some members have considered tether to either be a BIG ass scam or something that might end up being used to pump or dumb bitcoin or some other coin, so in that regard, there has been some historical discussion of that coin in its possible relationship with bitcoin, and I am familiar with more and more of tether being used in the ethereum (aka shitcoin) sphere.. so in that regard, there have been various argument being raised in terms of tether's relationship to shitcoin ethereum or if that change in tether's usage has any meaningful or significant effect on bitcoin whether platform or integrity risk, changes in liquidity or other risks, such as regulatory risk.

So, sure, even if tether has been more increasingly used in ethereum, it has not really gone away as a liquidity avenue in bitcoin whether we are talking about binance or bitfinex or other exchanges that had historically used tether but seem to have moved away from using tether / BTC pairs at this point.

Depending on the future Tether could turn out to be the biggest shitcoin ever based on my own definition.  (And I am not an anti-tether conspiracy theorist)

Tether may be the most centralized "crypto asset" that has ever been made.  I suppose the vomitous ripple gives it a run for it's ephemeral money.  But it might even have that beat.

It is "backed" by accounts on some island bank. ---  Boom.  Are there any more things that we need to say?

Yes, it price is *usually* pegged to the $, but that does not mean it's not traded like a shitcoin.  It is a blurry xerox of the ULTIMATE shitcoin.  It is a synthetic, dubiously backed USD which is what Bitcoin trades AGAINST.  That is why it's illusion of stability even exists.

Anyway... I think all that is worth saying... so I said it.

Variations of those kinds of skepticisms of tether are not exactly new, and even though tether started being used in early 2015-ish, a lot of the conspiracy theories had gotten pretty strong around and following Bitfinex's purported hackening in 2016.. and surely there has been a sufficient amount of drama regarding it, too.... and whether any of those potential downfalls of tether end up playing out, there could be some meaningful negative impacts on bitcoin, as you suggest - just like there are other possible scenarios in which either bitcoin's liquidity is tested or bitcoin might end up having to go underground, which currently seems to not be very likely but remains a possibility. 

Some scenarios are more plausible than others, and surely last year, Armageddon scenarios were probably less than a 1% chance, but perhaps one could argue that since early 2020 and some of this year's playing out of virus, markets and the revealing of supply chain vulnerabilities and erratic desperations that politicians can sometimes employ or threaten to employ causes Armageddon scenarios to become way higher on the probability than they had less than 6 months earlier.

So, even if we are adding up a bunch of scenarios that do not seem likely on their own, we have seen unlikely scenarios playing out in recent times too, and becoming more and more probable, at least within speculating regarding things that might happen, which may well inspire both a need to think about these matters and also some need to at least consider which preparatory measures might be prudent and reasonable.

[Toxic2040]

[cAPSLOCK]

Cup, meet Mr. Handle...   

[Biodom]

Regarding btc vs unnamed alts. Not really the right place, but the topic was already discussed above.

I consider btc as a savings account and alts as a checking/spending account.
I only invest single digits (in total) into alts, but sometimes they run up impressively.
Then they drop just as precipitously, so I try to take profits aggressively, mostly into fiat, with some going back into savings/btc.

BTW, this is the first cycle when multiple alts started going up exponentially before btc significantly appreciated (if you ignore the last summer "premature" bump).

[Hueristic]

Tether is not exactly an altcoin.. but it does seem to be a liquidity vehicle and also a temporary means to either hold dollar value or to move dollar value without actually getting actual dollars.

 

Tether is (in most part, at this point) ETH based.

Is there a write up why they moved from the omni layer and how they accomplished that?
Also why the fuck would they do that in the first place?

[cAPSLOCK]

Tether is not exactly an altcoin.. but it does seem to be a liquidity vehicle and also a temporary means to either hold dollar value or to move dollar value without actually getting actual dollars.

 

Tether is (in most part, at this point) ETH based.

Is there a write up why they moved from the omni layer and how they accomplished that?
Also why the fuck would they do that in the first place?

I don't know really.  They also did a portion on liquid, which I would think is MUCH MUCH MUCH better than the crypto-kitties garbagatorium.  They have also released USDT an EOS, and TRON (LOLROFLMAO).  I guess not to put all ones scammy eggs in one basket?

https://cryptobriefing.com/bye-bitcoin-tether-booms-on-ethereum-withers-on-omni/

https://www.thestreet.com/investing/cryptocurrency/crypto-conversation-tethers-swap-is-swarmed-by-questions

[JayJuanGee]

Tether is not exactly an altcoin.. but it does seem to be a liquidity vehicle and also a temporary means to either hold dollar value or to move dollar value without actually getting actual dollars.

  

Tether is (in most part, at this point) ETH based.

Is there a write up why they moved from the omni layer and how they accomplished that?
Also why the fuck would they do that in the first place?

I don't know really.  They also did a portion on liquid, which I would think is MUCH MUCH MUCH better than the crypto-kitties garbagatorium.  They have also released USDT an EOS, and TRON (LOLROFLMAO).  I guess not to put all ones scammy eggs in one basket?

https://cryptobriefing.com/bye-bitcoin-tether-booms-on-ethereum-withers-on-omni/

https://www.thestreet.com/investing/cryptocurrency/crypto-conversation-tethers-swap-is-swarmed-by-questions

From my understanding there are multiple forms in which tether is issued, and wikipedea may not be the best source (or even the most up-to-date in accordance with the possible EOS and TRON that cAPSLOCK mentioned, but it describes the tether issuance situation like this:

>>>>>Currently, there are a total of four distinct Tether tokens: United States dollar tether on Bitcoin's Omni layer, euro tether on Bitcoin's Omni layer, United States dollar tether as an ERC-20 token, and euro tether as an ERC-20 token.<<<<<

https://en.wikipedia.org/wiki/Tether_(cryptocurrency)

...Of course, there is no problem making various allocations in your portfolio...

(Keep it together, Bob. It's not Thursday yet.)

Thanks for exercising ur lil selfie-constraints in order to contribute towards making "my day" even MOAR 'specially better when it finally does comes.   #nohomo  

[Hueristic]

Tether is not exactly an altcoin.. but it does seem to be a liquidity vehicle and also a temporary means to either hold dollar value or to move dollar value without actually getting actual dollars.

  

Tether is (in most part, at this point) ETH based.

Is there a write up why they moved from the omni layer and how they accomplished that?
Also why the fuck would they do that in the first place?

I don't know really.  They also did a portion on liquid, which I would think is MUCH MUCH MUCH better than the crypto-kitties garbagatorium.  They have also released USDT an EOS, and TRON (LOLROFLMAO).  I guess not to put all ones scammy eggs in one basket?

https://cryptobriefing.com/bye-bitcoin-tether-booms-on-ethereum-withers-on-omni/

https://www.thestreet.com/investing/cryptocurrency/crypto-conversation-tethers-swap-is-swarmed-by-questions

OK, unless I'm missing something after reading those links and others it seems to me that the main reason is for the ability to earn interest.

[Hueristic]

Observing increasing short liquidations. Number threatening to go up some more.

I think I can live with that.

[JayJuanGee]

Observing increasing short liquidations. Number threatening to go up some more.

I think I can live with that.

Please no!!!!  need to wait until next Thursday for me to be able to buy some more... haven't had enough time to buy at these prices.

[Cryptotourist]

Thanks for exercising ur lil selfie-constraints in order to contribute towards making "my day" even MOAR 'specially better when it finally does comes.   #nohomo  

Fuckin blow him already.

#sohomo
#Thursday_here
#STFU

[Toxic2040]

Observing increasing short liquidations. Number threatening to go up some more.

[cAPSLOCK]

Observing increasing short liquidations. Number threatening to go up some more.

Oh, joy.

I really really really really really really really need this to be the front end of the big rally for this cycle.

I really want to harvest a portion of my hoard into a little real estate and set up an account to pay me like 80k a year from here on out and let the rest ride the rocket.

I am tired of my slaving for money that is worth less worth.less worthless.

That said, I can keep hanging on if I have to...  but c'mon corn!  you know you wanna!

[Toxic2040]

the evening wall report

climbing back upwards to the 0.618 the four hour chart has clear skies and smooth sailing towards building support ahead
4h


that 0.382 resistance at $9.54kish dominates the sky overhead with support gathering underneath at the 0.5 and $9.26kish  #dyor
D

#stronghands

[lightfoot]

It's a really good time to be alive....

[jojo69]

[CryptoYar]

Whale Alert
1,900 BTC (17,806,057 USD) transferred from Binance to unknown wallet

Tx: https://whale-alert.io/transaction/bitcoin/5288d8357e3e71273861c3f6fbbbbf148d5eac485efeefe054110212b6681dc7/1

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