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

[nullius]

cryptos are a financial derivative?

If you start with the premise that all value derives from government-mandated, central bank-issued money, you squint really hard, and you abuse hallucinogenic substances, then—maybe it begins to look like that.

I am just trying to guess what Brandt means.

Brandt is astutely pointing out why this matters, and why it is good for Bitcoin.  (not that much of a fan of his... but he's right here)

WTF?  How is Brandt right?  And how is regulation good for “cryptos”, as of which he spoke?

[Last of the V8s]

Official statement from Bitmex:

[Forwarded from BitMEX Announcements]
United States CFTC & DOJ filing
In response to reports of the U.S. Commodity Futures Trading Commission and Department of Justice's decision to file charges against HDR Global Trading Limited and related parties, we have the following statement:

“We strongly disagree with the U.S. government’s heavy-handed decision to bring these charges, and intend to defend the allegations vigorously. From our early days as a start-up, we have always sought to comply with applicable U.S. laws, as those laws were understood at the time and based on available guidance.”

In the meantime, the BitMEX platform is operating entirely as normal and all funds are safe. To allay any potential customer concerns, pending withdrawal requests were processed at 17:45 UTC, in line with our standard procedures. We will process another off-cycle withdrawal at 08:00 UTC, 02 Oct 2020, and then 13:00 UTC, as usual.

If you have any further enquiries, please contact Support: https://www.bitmex.com/app/support/contact

leader of the first citadel?

[cAPSLOCK]

cryptos are a financial derivative?

I would imagine there are some big money interest behind this move...  someone else wants Hayes' action.

[cAPSLOCK]

cryptos are a financial derivative?

If you start with the premise that all value derives from government-mandated, central bank-issued money, you squint really hard, and you abuse hallucinogenic substances, then—maybe it begins to look like that.

I am just trying to guess what Brandt means.

Brandt is astutely pointing out why this matters, and why it is good for Bitcoin.  (not that much of a fan of his... but he's right here)

WTF?  How is Brandt right?  And how is regulation good for “cryptos”, as of which he spoke?

It's not really that regulations are good... it's that the big dogs are really starting to step up.  They have to, so they can try to control Bitcoin next and be the next to get destroyed by it.

That's what I think is good... maybe Brant isn;t thinking that many levels deep.  Maybe I am just gassy.. Dunno.

[cAPSLOCK]

Also... if this is handled like all the rest of how Bitmex has worked and there are no big gotchas it's also gonna light a fire once people start to realize it's all gonna be OK.

Markets are acting like China has banned bitcoin(tm) again!

[explorer]

Also... if this is handled like all the rest of how Bitmex has worked and there are no big gotchas it's also gonna light a fire once people start to realize it's all gonna be OK.

Markets are acting like China has banned bitcoin(tm) again!

As per Usual.


  I've been out of the loop - has China still been banning BTC on regular intervals the last couple years?

[JohnBitCo]

[Torque]

In the meantime, the BitMEX platform is operating entirely as normal and all funds are safe. To allay any potential customer concerns, pending withdrawal requests were processed at 17:45 UTC, in line with our standard procedures. We will process another off-cycle withdrawal at 08:00 UTC, 02 Oct 2020, and then 13:00 UTC, as usual.

All funds are safu

[Dunkelheit667]

The monthly update:



September 2020 - so far no storm in sight, but it is getting colder for sure.

Unreal, another month already passed. Autumn has arrived, orange turned into red. Down 7.55 %, 117 pages to catch up. Does everything go down the drain? No! We are 50% up this year and I will have this month my first week off this year. Really looking forward to read you soon!

Gentlemen, I hope you are doing fine and start enjoying the season in comfort! 

[Indymoney]

In the meantime, the BitMEX platform is operating entirely as normal and all funds are safe. To allay any potential customer concerns, pending withdrawal requests were processed at 17:45 UTC, in line with our standard procedures. We will process another off-cycle withdrawal at 08:00 UTC, 02 Oct 2020, and then 13:00 UTC, as usual.

All funds are safu

Its a good news as many was too much concerned about their funds.

[LFC_Bitcoin]

@Jopendus
Here's an interesting comparison. silk road arrests/seizure, BTC-E arrests/seizure, and this moment with #Bitmex whatever that amounts to. All 3 moments are alike. 
https://twitter.com/jopendus/status/1311766192084975616?s=21










Meme quote - Jihan Wu

[El duderino_]

Will there still be a $100k party?

Just curious

Or a HAT party.... but there will be something

[600watt]

sry for off topic but I just had a neuron pop in my brain and the idea is to create an ERC20 shitcoin and get it listed on cmc. we gonna name the coin theDIP. and holy fuck we will get all this free advertisement from bitcoiners all over the world!

BUY THE DIP!  

dear comrades.

fighting this uphill battle for years against shitcoinery is a toxic and brutal sport. that is why I thought I put a little joke in. a few hours later it suddenly dawned on me. I hadn't even bother to check...   and comrades... look at that:

What is DIP Token?
DIP Tokens act as the native internal currency that is inseparable from the protocol and network of its users. DIP tokens are needed to earn transaction fees (% of insurance premiums or fixed cost), incentivize and reward platform users to bring risk to the network, build and maintain risk transfer products. The total supply of Etherisc Tokens is 1 Billion

T H I S is some high end shitcoinery

https://etherisc.com/faq

there is even another one:  DIP

Dipper Network为促进基础金融协议的发展，采用挖矿模式：借贷即挖矿、交易即挖矿、合成即挖矿等，用户在协议中产生有相应的行为，将获得平台的长期和不定期机制的TOKEN激励。

https://dippernetwork.com

reality is stranger than fiction...

[nullius]

Meme quote - Jihan Wu

Outdated, obsolete language.  Don’t you know that this isn’t the horse-and-buggy days?  Language evolves.

There is now a much worse “four-letter word”.

2016, with obsolete language:

2018, after Faketoshi stuck a fork in his back, Jihan changes his tune and upgrades his F-bombs:

[criptix]

Btw i didnt see anyone talking about it here yet, but:

BTC ETF in 2021 confirmed?

Regulators killing all the bucket shops where whales are manipulating the BTC price to pave the way for ETFs.

Which in this time and day might actually lead to CBs holding BTC (i.e. japanese CB buying ETFs in the past, FED etf buying this year)

[sirazimuth]

Any Nostradamus type characters in here wanna make a prediction for harvest day next year?





 

[Hueristic]

https://www.youtube.com/watch?v=un9x-DjTMT0

[vapourminer]

Any Nostradamus type characters in here wanna make a prediction for harvest day next year?





 

is that the same as, like, guessing how many joints in a lid?

[nullius]

Btw i didnt see anyone talking about it here yet, but:

BTC ETF in 2021 confirmed?

Regulators killing all the bucket shops where whales are manipulating the BTC price to pave the way for ETFs.

Which in this time and day might actually lead to CBs holding BTC (i.e. japanese CB buying ETFs in the past, FED etf buying this year)

Interesting idea.  Though it’s pretty shot-in-the-dark speculation; and I don’t think that the past day’s events “confirm” anything, except that a government deeply dependent on the dollar is on another one of its insane rampages.

I also am not a fan of the ETF idea (same as I was never overly fond of CME futures, etc.), though of course, there is nothing that I can do to stop it.

Which in this time and day might actually lead to CBs holding BTC (i.e. japanese CB buying ETFs in the past, FED etf buying this year)

I don’t think that central banks will ever invest in Bitcoin, in the sense of viewing it as a valuable asset (like gold) that they want to have for that reason.  Bitcoin is their competitor, in its fundamentals.  They are too strategically-minded to attack it outright; and they will try to exploit it as they can.  But if they can avoid doing so, they will never accept Bitcoin as some sort of key to the international financial system.  (“...if they can avoid...” whereas they have more power than their governments.)

So, has the Fed been buying ETFs this year?  —As anything other than their recent habit of being a “buyer of last resort” to prevent the stock market scam from imploding too quickly, which also has the benefit of draining non-imaginary capital out of the markets and giving some of those inflationary new dollars somewhere to go on paper without crashing?  Killing two three birds with one stone, that.

cryptos are a financial derivative?

I would imagine there are some big money interest behind this move...  someone else wants Hayes' action.

Interesting day.  “Interesting times.”

US Treasury Secretary Mnuchin: We Have Reached Agreement On Direct Payments To Americans
https://twitter.com/LiveSquawk/status/1311445259906318342

[JayJuanGee]

Any Nostradamus type characters in here wanna make a prediction for harvest day next year?





 

A bit far into the future.

I hate to be a fuddy duddy, but I will make a relatively conservative BTC price prediction for that date that is somewhat in my ongoing practices to keep my expectations somewhat low....  

On that same note, in recent times, I have decided to move up upon my earlier bitcoin investment thesis, which was to anticipate and plan around a 5.5% per year price increase, and I have decided to tentatively move that BTC price appreciation expectation up to 12% per year.  This is NO small deal, and perhaps many people are going to conclude that I am too pie in the sky.. so maybe that is why I used the word, "tentatively."

Of course, historically, those of us in bitcoin for a while have experienced that some years have been better than others, but if we average out Bitcoin's overall performance, we have gotten pleasantly surprised by its ongoing outperformance of all other asset classes... at least asset classes that are used for storage of value... and perhaps no asset classes can proclaim to be nearly as liquid as bitcoin... even though some of bitcoin's liquidity is being threatened with the Bitmex situation.

I am thinking that I can conservatively estimate that from here on out I can expect an average return on my BTC of at least 12% per year (upped from 5.5%), and I am going to reframe my future cashflow plans around such revised bitcoin price appreciation thesis.

Accordingly, a conservative BTC price indicator is the 200 Weekly moving average which is currently at nearly $6,800.

Therefore, I will expressed a combined guess for September 30, 2021 that:

1) BTC's 200-Week moving average will be at least $7,616 ($6,800 + 12%) -

and

2) BTC's street price will be at least  $12,008 ($10,721 + 12%) .

I know.. seems easy to meet these expectations, but I really feel uncomfortable with underperformance or not meeting expectations, so I would prefer to meet or exceed expectations rather than NOT.

Again... even though there is some conservativism, here,... at least on a somewhat brighter note,  I have decided to move my average per year BTC price appreciation expectations up from 5.5% to 12% - which likely has some amount of bullishness contained therein, even if today we had been hearing about somewhat debby-downer Bitmex newses.