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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26400803 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.)
nullius
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October 05, 2020, 08:48:19 PM
Merited by marcus_of_augustus (10), Searing (1)

Jeff Bezos is an “asset”?





Much improvement in btc chart since bitmex "happenings"...those fuckers were causing this endless barting-debarting.
Is there a potential causation or at least correlation? We shall see in 1 mo.

If Bitcoin cannot survive without being tied to Mommy American-CFTC’s apron strings, then you should sell right now because it’s worthless.
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October 05, 2020, 08:52:14 PM

Jeff Bezos is an “asset”?
After reading this I feel yes an asset     Breaking the amount down more, Bezos is making about $321 million a day, $13.4 million an hour, $222,884 a minute, and $3,715 a second this year
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October 05, 2020, 08:58:51 PM
Last edit: October 05, 2020, 09:33:18 PM by JayJuanGee

On the Bitmex drama, my thoughts.
Some bitcoin companies are like lab rats: they have been left alone to experiment things that one day will become part of the new FINancialTECHnology world. Take Bitmex: bringing futures to the next level right? or finex or any other. Then they come and tell you, hey boy, this is our territory, how do you dare?
And then they publicly admit that "Digital assets hold great promise for our derivatives market and for our economy". Yeah, right?

Thumbs up to 600watt, somac. for https://bitcointalk.org/index.php?topic=178336.msg55302340#msg55302340

With CME, Bakkt and Grayscale, the US derivate market is becoming of "significant size", which was one of the main concerns of SEC. The other - manipulations of almost anonymous high leverage traders operating on Mex is now in the process of solving. This is not only CFTC and SEC concern but possibly the main "bart generator" for the last 2 years. So in any possible way, Mex news is good for Bitcoin. The 3% drop in the price is by no means to be compared with the benefits of manipulators being kicked out of the market.

It is quite possible that the CFTC statement "Digital assets hold great promise for our derivatives market and for our economy" is related to a possible ETF approval, as also suggested in this article:
https://bitcoinexchangeguide.com/a-big-positive-step-towards-the-bitcoin-etf-approval/

Although, IMO, institutions will find a way to get into Bitcoin without an ETF. We've seen however, that in the last months despite the huge purchases, the price didn't move as much as it should. The only logical explanation is of course the fraudulent shorting using Mex and other not well regulated exchanges. There is also a non logical explanation. As we are normal people here, carefuly thinking about every detail, we tend to forget that there are people who are not like us. Take for example Las Vegas - how many addicted people are in the casinos losing all the cash they bring in their pockets! The same is with the addicted daily traders, who can't be called manipulators, but like vicious brainless piranhas eat the price down until their stash is gone in an endless stop loss chase. The removal of Mex shorters will tip the balance against the piranhas and in favour of the natural growth. So I applaud the CFTC action and hopefully it will shut down Mex and put their owners and other money launderers in jail, where they belong!

I did merit this post because I think the idea expressed has some plausibility.
but...
I strongly oppose the the highlighted part. it is cheap to demand jail for folks you don't know personally. the problem is that for someone this may become very personal. I was put in jail on several occasions mainly for political reasons fighting against and also breaking drug laws. jail is a serious matter. it is a very archaic punishment. to be locked into a small cell is a shocking experience.
you cannot go anywhere anymore and this has power to break your back. they wanted to lock me up for 10 years during my latest trial. the law that they used to press the charges in my case was not even anti-drug law but regarded pharmacy. the European High Court had to step in and declare the prosecutor's and court's strategy unconstitutional. the incident was more than a decade ago but the the trial is still not resolved.  for several years this 10 yer sentence was hanging above my life like a Damocles sword. with wife and kids this ain't no fun and gave me serious insights and learning experience regarding jail, police, punishment etc.  my take is that jail should be exclusively for violent crimes. not at all for drug related stuff. and scamming greedy gamblers is not on my list of things that I want the U.S. jail system to the care of. I have no clue if and to what extend Hayes did steal his customers money. if he did, a fair trial would be ok to call out for.  is there evidence that he did?  

Of course, any criminal trial has a possibility for jail time, but even if it does not, there is a higher burden of proof that governments (including Big bully USA) have in terms of proving someone to be guilty of each and every of the allegations that are alleged.  Governments do not always play fair, yet I do not know enough of the details in this case (and likely NOT too many of us do) in order to be presuming the company or the four indicted individuals to be criminally liable to the extent that those various branches of the USA govt are proclaiming / charging.

Oh look, the CFTC scares all the rats with their coins off of BitMEX, and suddenly all of the barting comes to a halt.

Gee, who woulda thunk it.

A bit early (after a mere few days) to making BTC price movement proclamations - even if you might end up being correct.
 Roll Eyes Roll Eyes Roll Eyes

Much improvement in btc chart since bitmex "happenings"...those f--kers were causing this endless barting-debarting, I strongly suspect.
Is there a potential causation or at least correlation? We shall see in 1 mo.

Sure, could be, but still seems as if it is too soon to be making those kinds of price dynamic causation proclamations, even if barting/debarting were to lessen or disappear completely from here on out.
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October 05, 2020, 09:14:06 PM

I was offered sex today, by a 21 year old girl. In exchange for that, I was supposed to advertise some kind of bathroom cleaner to my friends. Of course I declined because I am a person of high moral standards with a strong willpower. Just as strong as Ajax, the super strong bathroom cleaner. Now available scented with lemon or vanilla.

You declined a favourable trade.  It seems that your business sense is no better than your market sense:

I would like to buy Bitcoins at the price of 2013-14 to gain back the lost Coins. If Bitcoin is not possible to be bought than maybe Litecoin? Dogecoin? Please, i need your aid my friends. You are all i have left.
My story is that i want my Coins from Mt. Gox back. It is a must , i wanna get them back or Buy them back at the Stolen Value point.

Not your keys, not your coins.

This time, try keeping your money in your own wallet instead of on a centralized exchange.  This is easy to use, even for beginners, and has good privacy features:  Wasabi Wallet (Tor onion site)

Be your own bank.

PSA.  How many times do we need to say this.  (Royal “we”, and also “every Bitcoiner with even so much as an ounce of sense ‘we’”.)
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October 05, 2020, 09:25:59 PM

I was offered sex today, by a 21 year old girl. In exchange for that, I was supposed to advertise some kind of bathroom cleaner to my friends. Of course I declined because I am a person of high moral standards with a strong willpower. Just as strong as Ajax, the super strong bathroom cleaner. Now available scented with lemon or vanilla.

You declined a favourable trade.  It seems that your business sense is no better than your market sense:

I would like to buy Bitcoins at the price of 2013-14 to gain back the lost Coins. If Bitcoin is not possible to be bought than maybe Litecoin? Dogecoin? Please, i need your aid my friends. You are all i have left.
My story is that i want my Coins from Mt. Gox back. It is a must , i wanna get them back or Buy them back at the Stolen Value point.

Not your keys, not your coins.

This time, try keeping your money in your own wallet instead of on a centralized exchange.  This is easy to use, even for beginners, and has good privacy features:  Wasabi Wallet (Tor onion site)

Be your own bank.

PSA.  How many times do we need to say this.  (Royal “we”, and also “every Bitcoiner with even so much as an ounce of sense ‘we’”.)


I did waste it ? Such a missed opportunity indeed.  Tongue Well both of those senses seem to be working fine so i dunno what you are talking about  Cheesy And yes i wish i could get my coins back Sad Sad so bad...

Thanks for the Wallet tip tho nullius, i appreciate it Smiley
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October 05, 2020, 09:28:37 PM

[edited out]

Whereas this forum is NOT the court.  And I am not an attorney-at-law representing the BitMEX (HDR) corporation and/or its executives.

Thus, I will take a stand and say, first of all, explain just why the fuck the United States is pretending to have jurisdiction here.  What is the American CFTC, a god?

Of course, I am NOT even proclaiming such a possible strategy to be unreasonable or impracticable.

Clients and attorneys discuss these kinds of strategic matters on a regular basis, and probably some teams of attorneys are more resourceful and creative than other teams.

Personally, I believe Bitfinex has done pretty well through the years, and surely we cannot always know whether some of the positive outcomes were products of skills or luck.

Why am I so vehement about this?  Besides general principle, that is.

Nothing wrong with arguing from principles.

On the other hand, it is possible that you and I (or one of us) might find out that Bitmex's behavior was more egregious than we had earlier considered, and we might adjust our opinions or maybe the strength of our opinion(s) might change with the learning of new facts and logic.

I do NOT like scammy exchanges.  Indeed, earlier this year on this forum, I got booted out of DT2 because I was gunning too hard for Yobit.  (A DT1 who was previously on good terms with me suddenly ~attacked me in another thread within 2 hours of starting to defend Yobit from me; the timestamps make the motive quite transparent.)  Now, that is a scammy exchange—but I digress...

BitMEX has always had a sterling reputation.  Now, due to this American action, I suddenly see people convicting them in the “court of public opinion”—it seems just because “American CFTC said so”.  

Of course, in some sense, you are preaching to the choir, nullius.

We have already seen quite a few nonsense arguments wanting to presume Bitmex to be criminally guilty, and I doubt that those proclaimers are more aware of the facts and/or arguments of the case than you and me.


If BitMEX were doing something really wrong, and if the evidence were brought out, then I would be the first to condemn the wrongdoing.  (Whether or not the Americans have the right to prosecute it would be another matter—they are NOT the world-police.)  But that is not what I have been seeing, these past few days.

Again.. I don't disagree with any of that.


Meanwhile, just yesterday, I popped into the BSV thread for the first time (Loyce.club archive, just in case).  And today, what do I there behold?

Third post by a “Newbie” account, obvious shill:
Re: [ANN] [BSV] BitcoinSV - Satoshi's Vision for Bitcoin
Quote
https://coingeek.com/coingeek-live-2020-regulating-the-digital-assets-industry-is-key-to-future-growth/

CoinGeek Live 2020: Regulating the digital assets industry is key to future growth
 
The days when digital assets were considered a lawless wild west which was beyond the reach of regulators is way behind us. On Day 1 of the CoinGeek Live conference, some of the leading minds in the legal industry discussed the regulation of the digital asset industry, letting us in on how to build a compliant Bitcoin business in the U.S., Japan and the European Union.

While regulators started off on the back foot in policing the digital assets industry, most of them are now catching up, Joshua Ashley Klayman told the virtual audience. Klayman is a senior counsel at Linklaters LLP, a London-based law firm with over 3,000 lawyers across the world. Based in New York, Klayman works with digital asset companies that are seeking to get into the U.S. market.

“It’s been said many times that there’s a lack of regulatory clarity. I think at this point, that’s just an excuse. I think if you engage with the regulators, you can find a path forward,” she remarked.

[...]

The subject is interesting, without trust no regulation... without regulation... no state therefore no existence. All open and in conformity with the laws. This is not the case for many other coins.

Compare:

Bitcoin is a 'common good'.
Bitmex was damaging it by 100x margin, as easy as this.
btc going down 1% wipes out the 100X long position.
can a 1btc account spoof? No. can a 10K-100K btc account do the same on mex? Absolutely.
We have speed limit signs on most highways, right? Same idea.
Bitmex is no autobahn.

I would not shear a single tear if mex is gone or curtailed (after allowing outgoing btc transfers, of course).

Resistance to the “ZOMG we need to regulate it!!! kowtow to the regulators” attitude is a major Bitcoin issue—and resistance to American world-police megalomania is a major issue to anybody who does not want to be a slave.

I cannot say that I disagree with any of that, either.

Battles for the mindspace can take a lot of time, and people are not necessarily going to agree, and surely I hope that Bitmex and their various agents are making great efforts in regards to the counsel that they seek.
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October 05, 2020, 09:53:16 PM

John McAfee arrested in Spain on tax charges in the U.S. Tongue
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October 05, 2020, 10:03:44 PM
Merited by El duderino_ (2)

John McAfee arrested in Spain on tax charges in the U.S. Tongue

Maybe he’ll get to eat dick after all (just not his own).

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October 05, 2020, 10:06:43 PM
Merited by marcus_of_augustus (5)

Battles for the mindspace can take a lot of time,

Indeed.  That is why it is important to discuss these issues publicly.

What happens if nobody steps up and says it?

* nullius is nobody.

Of course, in some sense, you are preaching to the choir, nullius.

With you, perhaps, and with a good number of WO regulars.  I think that you and I are in basic agreement about many of these issues, although I think that perhaps here, I needed to clarify a few points on which you may have slightly mistaken my own position.

But then, there is that “mindspace” thing that you mentioned.

Why yes, let’s create a highly regulated derivatives market (replete with regulatory capture by the biggest and worst criminals), in which highly profitable (and oftentimes massive-clusterfuck-crash grade risky) financial products can be offered by those who (have teams of lawyers to pretend to) obey the (loophole-ridden exact letter of the) regulations.  Let’s create a regulated “digital assets industry” (in which the sharks with big money and big lawyers can just eat everybody else alive).  While we’re at it—let’s recreate the fractional reserve central banking system!  You know, as long as this MAX_MONEY thing is in place, Bitcoin will always be subject to more or less price volatility.  A beneficent central bank is like the governor on the economic engine—or like speed limits...

So, why do we have Bitcoin?
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October 05, 2020, 10:24:49 PM
Last edit: October 05, 2020, 10:41:11 PM by nullius
Merited by LFC_Bitcoin (1)

John McAfee arrested in Spain on tax charges in the U.S. Tongue

Maybe he’ll get to eat dick after all (just not his own).


Presuming homosexual bodily violation of the prisoner to be a part of the sentence—is that an American thing?  I think it’s written into the laws there, or something.  Of course, it also happens in other places; but I don’t know anywhere else that people so casually joke about it as if it were normal, except, I suppose, very Americanized places.

Cf. the acceptability of railroading a targeted individual with trumped-up tax charges.  I am NOT commenting either way on what’s happening with McAfee, whom I have just kind of ignored for years.  (Except to say that even a mentally retarded gasbag and shitcoin freak does NOT deserve to be targeted with one of the American “justice system’s” favourite weapons—whom did he piss off?)  I am simply remarking on an American phenomenon that started with Al Capone—a bloody gangster, whom the bribe-taking American police were too corrupt to arrest for his many actual crimes (ordering murders, etc.).  Whence it became socially and politically acceptable for the government to target people with tax evasion charges driven by ulterior motives—oftentimes, to target political dissidents who are exercising too much freedom of speech.  And targeted tax charges are only a common manifestation of a deeper problem:  “We’ve got to get him for something!” is a real Americanism.  “#MAGA”
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October 05, 2020, 10:27:47 PM

John McAfee arrested in Spain on tax charges in the U.S. Tongue

Rip john

https://www.coindesk.com/sec-alleges-john-mcafee-pumped-tokens-for-profit
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October 05, 2020, 10:36:58 PM

Better side of his arrest now he can better pump altcoins from prison surely he could be genius like trump in near future. Wink Smiley
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October 05, 2020, 10:40:19 PM


God, he's looking even worse. Last saw him about 5-6 year ago and he looked bad then. Poor guy, aging well is a valuable thing in life.
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October 05, 2020, 11:04:04 PM
Merited by LFC_Bitcoin (1), Last of the V8s (1)


About time really -- though I did not see the whole tax evasion angle being the reason for his final downfall. Guy is one of the biggest charlatans of the crypto space. Everything he ever touched turned to shit. Why people kept giving him cred long after this trend was established is beyond me.
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October 05, 2020, 11:13:17 PM

John McAfee arrested in Spain on tax charges in the U.S. Tongue

... hookers and blow and tax evasion, bitcoin rockstar  Grin


https://www.zerohedge.com/political/john-mcafee-arrested-spain-and-charged-tax-evasion-and-promoting-initial-coin-offerings
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October 05, 2020, 11:17:01 PM
Last edit: October 05, 2020, 11:28:25 PM by marcus_of_augustus

.....
A pump would cheer me up right now.



LFC needs pumps

7-2!! ... fuck me that's awful, who are these overpaid millionaire muppets?
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October 06, 2020, 12:09:20 AM

#dyor

#stronghands
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October 06, 2020, 12:12:44 AM
Merited by nutildah (1)

Surprised to see a link to this showing up on the front page feed of Reuters:

https://uk.reuters.com/article/us-coinbase-outages/coinbase-resumes-trading-after-fixing-platform-issue-idUKKBN26Q35G?il=0

Quote
(Reuters) - Coinbase Inc has resumed trading on Coinbase Pro after resolving an issue with the trading platform, the cryptocurrency exchange said on Monday.

“We’ve implemented a fix and are monitoring the results,” the company said in a tweet.

The exchange had disabled trading on Coinbase Pro earlier in the day, saying it was investigating an issue with the platform. (bit.ly/3jFAyxC)

Times must be a-changing when MSM considers the temporary outage of a bitcoin exchange to be newsworthy. Imagine how they'd react now to a Gox 2.0 event.

Bullish  Tongue
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October 06, 2020, 12:39:16 AM

is bitcorn ded yet?

asking for a friend...


You missed it man, it died last year. Or was it 2017? Or was it 2013? Oh heck, I can't recall. Pretty sure it was in China though. Ask a no-coiner, they're more likely to remember.


https://99bitcoins.com/bitcoin-obituaries/
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October 06, 2020, 12:45:22 AM
Merited by El duderino_ (2)

Much improvement in btc chart since bitmex "happenings"...those f--kers were causing this endless barting-debarting, I strongly suspect.
Is there a potential causation or at least correlation? We shall see in 1 mo.

I expect a fairly significant move up in Q4 of 2020 but it’s just a bit boring & frustrating now waiting. I’m quite confident we’ll end the year over $13,000 which would set us up fantastically for the expected fireworks at some point in 2021. We’ve got to be expecting upwards of $50,000 per coin before 2022.

It is kind of sounding to me, that your BTC investment thesis has not really changed very much on account of the potential issues related to Bitmex.

Do you consider barting and debarting to affect your plans in any kind of personal way in the coming one to two years?

Actually, I though that you were expecting a bit more UPpity in 2021  - but you are allowing for the possibility that some of the UPpity might get drug into 2022?  Are you considering that some of your investment performance may have gotten delayed by circumstances surrounding Bitmex?


My bags are full & heavy, I’ve been waiting many years for what’s coming.......  

I probably should not comment on this point, beyond pointing out that I am not commenting on it.   Cheesy Cheesy Cheesy

Just to show how much room we have for growth -

@ecoinometrics
For context a $2 trillion market cap for #Bitcoin  would put one BTC at $100,000.

That's also the same market cap as Apple.

To reach the market cap of gold, one BTC would be worth about $500,000.

There is plenty of upside to come.


It appears to me, LFC, that you are not really allowing this Bitmex news to interfere with your theories, in any kind of meaningful way.  Cool

Seems totally reasonable to me.  Wink
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