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

[JayJuanGee]

Coinbase readies landmark stock market listing, sources say
https://finance.yahoo.com/news/exclusive-cryptocurrency-exchange-coinbase-readies-133036956.html

Just a thought: If crypto is an/the alternative to "the system" - here legacy financial markets, then why is Coinbase doing an IPO in the first place? Isn`t that in contrast to "true crypto spirit"? Why didn`t they come up with Coinbase Coin/Token (as a means of distributing profits to investors) instead? Why give business to your opponent?

Also, at first glance, this does not seem to be particularly supportive of the decoupling narrative.

Coinbase is not bitcoin, and bitcoin is not crypto.... so you do seem to be muddying some of the concepts, Tuco Benedicto Pacifico, which may also thereby lead you into reading too much into one company in the space planning to go public... Bitmain was going to do something similar, and it ended up not going through.. This coinbase situation might have some better chances, who knows..? we will see.

Agreed with bold. It is a rather big player in the space, though. Successful IPO could further tie bonds between crypto and legacy markets, adding to viewing BTC as "just another asset", competing with stocks, commodities...
BTC started this whole thing, right? I admit I have never read the whitepaper, but I have also never heard anyone talking about "this paragraph where it talks about how to convert to fiat"..

Second part of your statement about muddling concepts could also be true, though.

You agree that coinbase is not bitcoin, but you did not make any comment about the difference between bitcoin and crypto.

You don't necessarily need to read the bitcoin whitepaper in order to understand what bitcoin is, as compared to the rest of crypto - but it might be helpful to have some understandings regarding how bitcoin is distinguishable in order to attempt to address how we attempt to address matters in this thread, which is largely a bitcoin focused thread, rather than convoluting the concept of how some thing in the space (such as the an attempted going public of Coinbase) affects bitcoin specifically.

I just consider analysis to be a whole hell of a lot weaker, when lumping bitcoin into an amorphous crypto concept rather than attempting to figure out bitcoin more specifically.    yes, a lot of companies, including coinbase have gone down a shitcoin rabbit hole because they believe that they can make more money by getting involved in a variety of shitcoins, but that does not mean that in this thread we even want to talk about bitcoin matters by NOT attempting to recognize that some companies, including coinbase have confused their own business model and incentives by getting involved with a variety of shit products.. but still does not mean that some people might still choose to purchase or trade their bitcoins with coinbase.

[BlackHatCoiner]

When will we ever understand that.

[LFC_Bitcoin]

Are your bags full yet? Won’t be long now



@bitharrington

[El duderino_]

When will we ever understand that.

I sincerely hope never.....

Cause it’s never to late to escape from government control and be master of your own value

Edit: many use btc to accumulate more FIAT wealth at this time only, few sees it as a store of value to secure there future wealth... and also in a further future btc Will have a high FIAT value but will be desired for its fundamentals and salability and because it will maintain value and will always be scarce ...

Ofcourse for the quick buck people... 2022 will be to late for quick gaines

[Hueristic]

I sincerely hope never.....

Cause it’s never to late to escape from government control and be master of your own value

Edit: many use btc to accumulate more FIAT wealth at this time only, few sees it as a store of value to secure there future wealth... and also in a further future btc Will have a high FIAT value but will be desired for its fundamentals and salability and because it will maintain value and will always be scarce ...

Ofcourse for the quick buck people... 2022 will be to late for quick gaines

QFT

[lightfoot]

if you throw a coin three times and you got the head, it is mathematically very doubtful that you would also throw it for the fourth time in a row.

If a coin keeps coming up heads, seems to me that's prima facie evidence it's not a "fair" coin.  Something about the coin makes it come up heads.  Like the tail side is heavier, or whatever.
So you got it backwards.  The coin is actually more likely to come up heads again.
Just kidding.
Then there's this
https://en.wikipedia.org/wiki/Gambler%27s_fallacy

This is a big reason why I only gamble on games like craps: Because you can play both sides of the bet it discourages the house from using weighted/shaved dice. If they did then everyone could play the dont's and clean up. Faro on the other hand is easy for the house to cheat on, and thus not a game to play anymore.

[JimboToronto]

Good morning Bitcoinland.

Excruciatingly sideways... currently $9181USD/$12476CAD (Bitcoinaverage)

Those lazy, hazy, crazy, daze of summer.

C'mon Bitcoin wake up, up, up.

@Ibian all left loonies are silent, come back now.  

And bring your lil butt buddy roach with you.

hahahahahaha

NOT

I don't miss either of the racist socially ineptly malformed twats.

Oh go on. I kinda miss the humor of their right-wing buffoonery.

They're the 2 stooges... slapstick.

[wwzsocki]

...coinbase have confused their own business model and incentives by getting involved with a variety of shit products...

Don't understand why you think that they "confused" their own business model?
I don't want to defend Coinbase, only try to look at them like at any other business which aims to be profitable, so the only goal they have in the end is revenue.

At the very beginning, it was one of the few places where you could buy or sell BTC with FIAT using payments like bank wire or credit card to make it easy for everybody. Later they aimed at newcomers to help them buy their first BTC, but today we are 10 years further and the crypto market has changed beyond recognition. We have almost 6000 cryptocurrencies, 400 exchanges, dozens if not hundreds of custodial and non-custodial wallets, ATM's, OTC, P2P, swaps and many other ways to buy, sell, exchange, take a loan, give a loan, and do hundreds of other things with our BTC while using many different payment options available.

In my opinion, if they did not go with time, but stayed only as a place to buy and sell BTC and didn't add the exchange, all these new cryptocurrencies, officially became a wallet (although they were treated in such a way anyway), they wouldn't be currently a tycoon on this market. Who knows if they would still exist?

One could argue now whether they really need BSV, XRP, or any other shitcoins and as Bitcoin supporters, we may not like it, but in the end, Coinbase is just another business that is fully profit-oriented.

https://www.nytimes.com/reuters/2020/07/09/business/09reuters-coinbase-ipo-exclusive.html

[cAPSLOCK]

Good morning Bitcoinland.

Excruciatingly sideways... currently $9181USD/$12476CAD (Bitcoinaverage)

Those lazy, hazy, crazy, daze of summer.

C'mon Bitcoin wake up, up, up.

@Ibian all left loonies are silent, come back now.  

And bring your lil butt buddy roach with you.

hahahahahaha

NOT

I don't miss either of the racist socially ineptly malformed twats.

Oh go on. I kinda miss the humor of their right-wing buffoonery.

They're the 2 stooges... slapstick.

Y'all are sick.

Having Roach gone is an AMAZING upgrade for this thread.  Ibian?  Yeah... I could tolerate him.  But roach being gone is a giant plus.  What a jackass.  He was either an actual psyop of some kind or just a real broken person.

[sirazimuth]

....
But I just keep thinking, that if you throw a coin three times and you have an eagle, it is mathematically very doubtful that you would also throw it fourth time in a row.

Fun fact....
For a coin with an eagle on one side,
 even in the very unlikely event you throw an eagle 50 times in a row, (or any number ftm) odds are still exactly the same for an eagle on the 51st throw(50%)*

 *as long as it's not a trick coin.... (also highly unlikely if 50 eagles came up in a row)

if you throw a coin three times and you got the head, it is mathematically very doubtful that you would also throw it for the fourth time in a row.

If a coin keeps coming up heads, seems to me that's prima facie evidence it's not a "fair" coin.  Something about the coin makes it come up heads.  Like the tail side is heavier, or whatever.
So you got it backwards.  The coin is actually more likely to come up heads again.
Just kidding.
Then there's this
https://en.wikipedia.org/wiki/Gambler%27s_fallacy

deja vu..........

[cAPSLOCK]

Confederate monuments are shit.

I feel sorry for you.

Ignoring. I don't have any tolerance for people looking to erase history.

We seem to have raised a generation of people who are unable to think more than one level deep, and have no empathy or even desire to see the perspectives of others.  It is possible to despise confederate statues, advocate for their removal, AND understand that there are real valid reasons for your perspective not being the only one, or possibly even valid.

The fact that so many are in the streets yelling at each other because they lack the ability to do that second thing is VERY concerning for me.

They also seem to find it impossible to realize that it is wrong to judge the people of the past by the values and spirit of the current age.  And have no gratitude that it was some of the people they are trying to erase who laid the very ground they are standing on and enabled us to do things like finally end slavery in our culture.

They too, when judged by their grandchildren by the standards of THAT time will need to be erased.

[JimboToronto]

@Ibian all left loonies are silent, come back now.  

I don't miss either of the racist socially ineptly malformed twats.

Oh go on. I kinda miss the humor of their right-wing buffoonery.

They're the 2 stooges... slapstick.

Y'all are sick.

Having Roach gone is an AMAZING upgrade for this thread.  Ibian?  Yeah... I could tolerate him.  But roach being gone is a giant plus.  What a jackass.  He was either an actual psyop of some kind or just a real broken person.

I actually found humor in NLC... for a while, until she got really disgusting. Now there was a truly fucked-up individual, even if it was a completely contrived paid trolling persona.

She and that obnoxious arrogant jackass Matthetwat are the only 2 people I ever put on ignore.

Another hilarious buffoon who amused me was Jaroslaw/Walsoraj. He was never political though. More of a poor man's Proudhon... a humorous troll whose only aim was entertainment.

[LFC_Bitcoin]

I actually found humor in NLC... for a while, until she got really disgusting. Now there was a truly fucked-up individual, even if it was a completely contrived paid trolling persona.

She and that obnoxious arrogant jackass Matthetwat are the only 2 people I ever put on ignore.

Another hilarious buffoon who amused me was Jaroslaw/Walsoraj. He was never political though. More of a poor man's Proudhon... a humorous troll whose only aim was entertainment.

Matthehat was a right loser, he was an uber early adopter who sold everything for under 3 figures. That’s why he was so bearish with his embarrassing TA. He probably killed himself when we went to $19,xxx.

Stolfi was annoying AF, I wouldn’t care if he got hit by a bus.

[sirazimuth]

Confederate monuments are shit.

I feel sorry for you.

Ignoring. I don't have any tolerance for people looking to erase history.

I believe there is a huge difference between seeing these things as commemorative as opposed to seeing them as an artifact of history.
Clearly they were erected with the former in mind, to commemorate the POS and  what they perpetrated. (mostly bad stuff)
(thanx for those links @bkbirge)
After all, I don't believe Germany has statues of Hitler all over the place.
I suppose in a perfect world they could be moved to a museum to be displayed as an artifact of history, clearly denoting what these bigots stood for, and all the misery they caused.
In most cases that's probably not feasible.

[lightfoot]

I believe there is a huge difference between seeing these things as commemorative as opposed to seeing them as an artifact of history.
Clearly they were erected with the former in mind, to commemorate the POS and  what they perpetrated. (mostly bad stuff)
(thanx for those links @bkbirge)
After all, I don't believe Germany has statues of Hitler all over the place.

Germany still does have the zoo tower, that's one hell of a monument to the whole cluster-fuck.

As for the monuments, maybe we should remember the history: Replace the nice bronze statue of a guy on a horse with a large blue rubber cock and keep the monument base and plaque intact. That way they will continue to be remembered appropriately.

Hm. I'm liking the hell out of this idea.

[Toxic2040]

the morning wall report

continuing the theme with a slightly different look with a trend based fib extensions, bitcoin continues to hug the 0.5 mark from the lows of 2018 thru the highs of 2019.  #dyor


1h



4h


D

#stronghands

[Toxic2040]

...clearly denoting what these bigots stood for, and all the misery they caused.

And another one, that just fundamentally "doesn't get it", added to the list.

I should really take a long, LONG break from this place.

Starting to really dislike it here, lately.

[sirazimuth]

One of the reasons I like this place is because I know I'm not preaching to the choir.
If I want an echo chamber I can always go to some retarded FB group....

[bitebits]

Imagine seeing Bitcoin as just another tradeable stock. Poor future souls.

[JimboToronto]

what these bigots stood for, and all the misery they caused.

Bigotry isn't the issue. Treason is.

The generals in question took up arms against the United States of America, its government, its constitution, and its people.

I agree with Bob that it's part of history. If that means statues should be erected to commemorate traitors, perhaps statues should also be erected to commemorate Benedict Arnold and John Wilkes Booth.

They're also part of history.