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Question: What happens first:
New ATH - 43 (69.4%)
<$60,000 - 19 (30.6%)
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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26406239 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (174 posts by 3 users with 9 merit deleted.)
d_eddie
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September 12, 2020, 11:46:18 AM

EU developments:

https://www.euractiv.com/section/economy-jobs/news/leak-eu-to-create-superbody-of-watchdogs-to-oversee-digital-currencies/

Interestingly,

Quote
The rules also impose the prohibition of granting any interests to holders of these digital assets.

This would cause a huge move of btc into US-based interest-generating custodial accounts (such as blockfi and celsius, maybe even Coinbase/Kraken)

Quote
The draft text also obliges the Libra Association and the issuers other significant e-money tokens, to redeem, at any moment and at par value, the monetary value of the e-money tokens if the holders decide, either in cash or by credit transfers. The rules also impose the prohibition of granting any interests to holders of these digital assets.

In this context, it looks sane to me. Tolerably so, at least. You issue tokens, they must be backed by something.
hv_
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September 12, 2020, 11:49:04 AM

EU developments:

https://www.euractiv.com/section/economy-jobs/news/leak-eu-to-create-superbody-of-watchdogs-to-oversee-digital-currencies/

Interestingly,

Quote
The rules also impose the prohibition of granting any interests to holders of these digital assets.

This would cause a huge move of btc into US-based interest-generating custodial accounts (such as blockfi and celsius, maybe even Coinbase/Kraken)

Quote
The draft text also obliges the Libra Association and the issuers other significant e-money tokens, to redeem, at any moment and at par value, the monetary value of the e-money tokens if the holders decide, either in cash or by credit transfers. The rules also impose the prohibition of granting any interests to holders of these digital assets.

In this context, it looks sane to me. Tolerably so, at least. You issue tokens, they must be backed by something.


For tether, is the something what exactly?

Lol
MFahad
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September 12, 2020, 12:20:11 PM

LFC_Bitcoin
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September 12, 2020, 12:30:56 PM

@TheVladCostea

Decided to research Bitcoin pr0n and found this gem:

– Couple tries to buy BTC from ATM, stranger approaches them to inform that fees are too high;
– Stranger takes them to their office to sell them BTC in person.
– Boyfriend doesn't have enough money, so he trades GF for 1 BTC.

https://twitter.com/thevladcostea/status/1304756798856011777?s=21



BitcoinGirl.Club
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September 12, 2020, 12:34:51 PM
Last edit: May 14, 2023, 04:53:35 PM by BitcoinGirl.Club

Good morning WO!
Observing @ $10,320



Can we see $10,501 😜
BitcoinGirl.Club
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September 12, 2020, 12:37:01 PM
Merited by LFC_Bitcoin (1)

– Boyfriend doesn't have enough money, so he trades GF for 1 BTC.
Nice trade. He can have few new ones.
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September 12, 2020, 12:42:05 PM

the 3rd monkey is about to blow his own head off

That's OK, motto still holds true (a dead monkey doesn't talk). LOL!

I wonder why they used monkeys... The girls working at Oak Ridge were lovely...
friends1980
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September 12, 2020, 12:46:22 PM

@TheVladCostea

Decided to research Bitcoin pr0n and found this gem:

– Couple tries to buy BTC from ATM, stranger approaches them to inform that fees are too high;
– Stranger takes them to their office to sell them BTC in person.
– Boyfriend doesn't have enough money, so he trades GF for 1 BTC.

(...)




Not sure why he's looking so worried though. The guy just made the best investment deal in his life. Buy low. Cut expenses. Etc.

The problem with pr0n is, and always has been, its low quality script writers. Real shame.
Globb0
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September 12, 2020, 01:08:30 PM

the 3rd monkey is about to blow his own head off

That's OK, motto still holds true (a dead monkey doesn't talk). LOL!

I wonder why they used monkeys... The girls working at Oak Ridge were lovely...

The 3 monkeys are see no evil hear no evil speak no evil

Quote
The three wise monkeys are a Japanese pictorial maxim, embodying the proverbial principle "see no evil, hear no evil, speak no evil". The three monkeys are Mizaru, who sees no evil, covering his eyes; Kikazaru, who hears no evil, covering his ears; and Iwazaru, who speaks no evil, covering his mouth.
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September 12, 2020, 01:49:12 PM
Last edit: September 12, 2020, 02:06:02 PM by nullius

Decided to research Bitcoin pr0n and found this gem:

– Couple tries to buy BTC from ATM, stranger approaches them to inform that fees are too high;
– Stranger takes them to their office to sell them BTC in person.
– Boyfriend doesn't have enough money, so he trades GF for 1 BTC.

As the inventor of a Bitcoin sexual fetish,(*) I must interject:

This story goes better when she is mesmerized by the sight of the UTXO, the immutable mark of the carnal transaction in which she laid herself down as a sacrificial offering to the god of Bitcoin.  She feels that she herself is forever hashed into the blockchain; it arouses her anew, it enthralls her, and she becomes addicted to accumulating bitcoins through ciphersex...

Based on prior research, I observe that printable temporary tattoo paper is readily available, and suitable for QR codes.  “Entrance fee.”

Gives new meaning to the word “HODL”.

(* Deep in my post history are modest hints, partly veiled by smoke and mirrors.  Not giving links, because I’m a tease.)

The problem with pr0n is, and always has been, its low quality script writers. Real shame.

I could help—for a price.  Though I think it works best in the written word (or in real life), and best appeals to females.  (Women are by far the biggest consumers of written erotica, which is just fine with me!)
d_eddie
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September 12, 2020, 01:53:40 PM


You're stuffed full of merits for a reason, dude. Have a special one. Keeping my last few for promises and nonlegendaries Wink

+1 WOsMerit
nullius
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September 12, 2020, 01:59:10 PM


Quote from: Euractiv (2020-09-10)
Cryptocurrency developers should produce a ‘white paper’ with all the relevant information about the issuer, the token or the trading platform “to enable potential buyers to make an informed purchase decision and understand the risks relating to the offering,” the proposal says.

National and European regulators must approve these documents before issuers can start operating.

A faceless Tor user who calls himself “Satoshi Nakamoto” will seek approval from self-entitled bureaucrats before releasing “bitcoin.pdf” and a bunch of source code, because... because.  Everybody is a bank-loving masochist with a regulatory fetish!  Confirmed by strongest science.
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September 12, 2020, 02:31:01 PM


Quote from: Euractiv (2020-09-10)
Cryptocurrency developers should produce a ‘white paper’ with all the relevant information about the issuer, the token or the trading platform “to enable potential buyers to make an informed purchase decision and understand the risks relating to the offering,” the proposal says.

National and European regulators must approve these documents before issuers can start operating.

A faceless Tor user who calls himself “Satoshi Nakamoto” will seek approval from self-entitled bureaucrats before releasing “bitcoin.pdf” and a bunch of source code, because... because.  Everybody is a bank-loving masochist with a regulatory fetish!  Confirmed by strongest science.

Quote
"Because they are tied to national currencies, supporters of ‘stablecoins’ claim they can avoid the bubble-and-burst evolution seen with Bitcoin."

Because they are tied to national currencies which are already digital, they have no fucking point...except pointless redundancy, I guess? They continue to miss the point of Bitcoin's reason for existence in the first place.
d_eddie
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September 12, 2020, 02:56:00 PM


Quote from: Euractiv (2020-09-10)
Cryptocurrency developers should produce a ‘white paper’ with all the relevant information about the issuer, the token or the trading platform “to enable potential buyers to make an informed purchase decision and understand the risks relating to the offering,” the proposal says.

National and European regulators must approve these documents before issuers can start operating.

A faceless Tor user who calls himself “Satoshi Nakamoto” will seek approval from self-entitled bureaucrats before releasing “bitcoin.pdf” and a bunch of source code, because... because.  Everybody is a bank-loving masochist with a regulatory fetish!  Confirmed by strongest science.

Quote
"Because they are tied to national currencies, supporters of ‘stablecoins’ claim they can avoid the bubble-and-burst evolution seen with Bitcoin."

Because they are tied to national currencies which are already digital, they have no fucking point...except pointless redundancy, I guess? They continue to miss the point of Bitcoin's reason for existence in the first place.

Bitcoin is bitcoin. There's no "issuer", there's no backing, it is what it is. You want some? Mine it or buy it.

The EU tentative regulation that Biodom mentioned, as I understand it, is aimed at tokens issued by corporate actors (libra is explicitly mentioned, and tether would qualify as well). My previous post simply states that I personally agree that such corporate entities should be held liable, and any failure to comply with redemption requests immediately should have civil and criminal consequences.

The last thing we need is more fractional reserve scams springing up like mushrooms everywhere.
BitcoinGirl.Club
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September 12, 2020, 03:00:30 PM

$10,350!
Only $151 to go 😜
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September 12, 2020, 03:06:24 PM



+1 WOsMerit
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September 12, 2020, 03:19:06 PM
Merited by JayJuanGee (1)

Good morning Bitcoinland.

No real change... still sideways... currently $10380USD/$13679CAD (Bitcoinaverage).

C'mon Bitcoin, rise and shine.

Go Bitcoin go.

I sell 1 bitcoin for price 50K while I really need only 25K. Wait until price falls to 25K, buy back the 1 bitcoin and keep the rest 25K in the bank forever. If the price doesn't fall that much, well this is a calculated risk. In my case this means 1 mil total profit in the bank. Not exactly fuck you status, but still enough to change my lifestyle.

This is the main idea, but with the calculator I can set precise sells at each percentage, so that I cover events like 45K down to 22K, etc. Only when I have a new lifestyle, I will sell almost everything for 6 mil.

Are you saying you'd risk your money by keeping it in fiat in some bank? The term "money in the bank" is misleading unless the "bank" is your own i.e. Bitcoin.

I also question your hoping for the price of Bitcoin to drop anywhere near as low as $25k. That's barely higher than the current ATH.

It's more likely for the price to continue well into 6 digits and then perhaps fall down as low as $50k-$60k in the nadir of the next Bitcoin winter.

Just MHO of course.
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September 12, 2020, 03:27:26 PM

The EU tentative regulation that Biodom mentioned, as I understand it, is aimed at tokens issued by corporate actors (libra is explicitly mentioned, and tether would qualify as well). My previous post simply states that I personally agree that such corporate entities should be held liable, and any failure to comply with redemption requests immediately should have civil and criminal consequences.

The last thing we need is more fractional reserve scams springing up like mushrooms everywhere.


But...bbut...the last thing the world needs is these corporate-issued tokens in the first place. That's my point. They are completely un-needed, nobody is asking for them, and fiat currencies work just fine as-is. They provide the public with zero benefits.

"Create unnecessary thing, then regulate unnecessary thing."
d_eddie
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September 12, 2020, 03:39:20 PM

I say, let them try to own the world by conjuring up tokens, meaningless as they might be. It could simplify things for some people - the unbanked come to mind. It could simplify trading - tether, for good or bad, has been facilitating whale trades for years and might be a part in decentralized exchanges over L2 in the future.

BUT when you issue them, whatever your reason may be, be ready to pay back cash or similar "hard" assets whenever someone wants out of your Monopoly money. Or else.
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September 12, 2020, 03:44:26 PM
Last edit: September 12, 2020, 04:46:39 PM by ivomm
Merited by JayJuanGee (1)

Good morning Bitcoinland.

No real change... still sideways... currently $10380USD/$13679CAD (Bitcoinaverage).

C'mon Bitcoin, rise and shine.

Go Bitcoin go.

I sell 1 bitcoin for price 50K while I really need only 25K. Wait until price falls to 25K, buy back the 1 bitcoin and keep the rest 25K in the bank forever. If the price doesn't fall that much, well this is a calculated risk. In my case this means 1 mil total profit in the bank. Not exactly fuck you status, but still enough to change my lifestyle.

This is the main idea, but with the calculator I can set precise sells at each percentage, so that I cover events like 45K down to 22K, etc. Only when I have a new lifestyle, I will sell almost everything for 6 mil.

Are you saying you'd risk your money by keeping it in fiat in some bank? The term "money in the bank" is misleading unless the "bank" is your own i.e. Bitcoin.

I also question your hoping for the price of Bitcoin to drop anywhere near as low as $25k. That's barely higher than the current ATH.

It's more likely for the price to continue well into 6 digits and then perhaps fall down as low as $50k-$60k in the nadir of the next Bitcoin winter.

Just MHO of course.

I gave those numbers as an example to clarify my calculator. I won't sell at 50K and rebuy at 25K, of course. But If I am satisfied with a certain price, say hypothetically 100K, I sell something and after that a bigger dip comes, say 70-80K (20-30% drop as programmed in the expample), I can decide to keep the profit into the bank or buy estate, and after that to rebuy the same amount of bitcoins that were spent. My idea is to sell bitcoins only for a purchase (with the profit, while the remaining fiat is waiting in the bank - more secure than on exchange), so that I will be able to rebuy them back. If this fails, so be it, I will achieve my main goal. I would prefer to keep all my stash until I retire, but if all of my rebuy plans fail, then I will have to reconcile with the eventual loss and live with my fiat disributed (hypothetically) into 100K deposits euro guaranteed by the EU, half of which in euro, and the other half in USD (or CHF, whatever fiat is still alive then). There are two things that I want to avoid - waiting until I retire to start travelling and living a better life, and the second is rebuying higher with a loss, like I did 3 times in 2017. I did these mistakes, because I was new and I didn't have an idea what I really want. I gradually realized that $1-2K profit is not so big and if I learn to hodl I will get much more, so I corrected mindrust kind of mistakes by rebuying higher. I hope you understand better my point of view now. The truth is that my stash is too small and I have to wait for a really high price in the next 5-6 years. And having a solid plan that won't change under emotional decisions  Wink
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