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Question: Oct. 23 Closing Price:
<$8,000 - 2 (3%)
$8,000-$8,500 - 0 (0%)
$8,500-$9,000 - 0 (0%)
$9,000-$9,500 - 0 (0%)
$9,500-$10,000 - 0 (0%)
$10,000-$10,500 - 1 (1.5%)
$10,500-$11,000 - 0 (0%)
$11,000-$11,500 - 3 (4.5%)
$11,500-$12,000 - 5 (7.6%)
$12,000-$12,500 - 16 (24.2%)
$12,500-$13,000 - 12 (18.2%)
$13,000-$13,500 - 8 (12.1%)
$13,500-$14,000 - 5 (7.6%)
>$14,000 - 14 (21.2%)
Total Voters: 66

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 23475054 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. (148 posts by 37 users deleted.)
Biodom
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September 28, 2020, 05:04:29 PM
Last edit: September 28, 2020, 07:20:37 PM by Biodom

No wonder the exchanges' reserves have come down so much this year. Just a couple of million more and we get our supply shortage event.

You said in one sentence what it took me a JJG sort of novella to try to say above. Smiley

Not looking forward to that.
IMHO, what is happening (my hypothesis): faced with constant withdrawals, exchanges instituted a scheme where they are getting re-hypothecated bitcoin from the likes of blockfi, celsius, nexo and crypto.com

That's why price does not react to bullish events, as long as their "supply" is virtually unlimited.
The question is: do you trust that each btc on exchange 'actually' represents a "real" bitcoin or a bitcoin genuinely "borrowed" from the companies mentioned above?
I strongly suspect that it is not the case.
It is probably much, much worse.

There is not going to be any supply shortage as long as the 'scheme' continues unabated.
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JayJuanGee
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September 28, 2020, 05:04:49 PM
Last edit: September 28, 2020, 05:36:24 PM by JayJuanGee
Merited by Karartma1 (1), VB1001 (1)




It will be interesting to see the final result.

Yep interesting.

When the BTC price is going up, many of us tend to gravitate towards greater levels of optimism in regards to UPpity and even considering that UPpity is more and MOAR inevitable.

Of course, waves take place - and also at some point, we are going to enter into a "last time below $10k" point in time.

Really knowing the bottom is probably almost as powerful as knowing peaks - but surely, we know that neither peaks nor bottoms can really be known with any kinds of high levels of certainty, except in retrospect.

No wonder the exchanges' reserves have come down so much this year. Just a couple of million more and we get our supply shortage event.

You said in one sentence what it took me a JJG sort of novella to try to say above. Smiley

Not looking forward to that.
IMHO, what is happening (my hypothesis): faced with constant withdrawals, exchanges instituted a scheme where they are getting re-hypothecated bitcoin from the likes of blockfi, celsius, nexo and crypto.com

That's why price does not react to bullish events, as long as their "supply" is virtually unlimited.
The question is: do you trust that each btc on exchange 'actually' represent a "real" bitcoin or a bitcoin genuinely "borrowed" from the companies mentioned above?
I strongly suspect that it is not the case.
It is probably much, much worse.

There is not going to be any supply shortage as long as the 'scheme' continues unabated.

Those engaged in fractional reserves could get caught on the wrong side of those kinds of bets, too....

Fractional reserves is part of the theory of what happened with MTGOX... sure, those kinds of actors may well be able to play their bad fractional reserve bets (which does not adequately prepare them for UP) for a while but sometimes face-melting UPpity could come with extreme explosiveness and thereby cause chickens to come home to roost for those kinds of ill-prepared betters - and really show who the naked swimmers happen to be (employment of mixed metaphores, of course).
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September 28, 2020, 05:11:14 PM

My gf of 10 years (we are early 30’s - got together young) is currently in the phase of telling me that I ruined ‘our lives by not selling when it was $19,000’.

You can:

1. Remind her that without your initial interest in Bitcoin, you/she would likely have none at all by this point.

--or--

2. Dump her.  Grin
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September 28, 2020, 05:14:12 PM

voted.

22/23  Grin
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September 28, 2020, 07:12:14 PM

A yes from me but I am going to hope my best that it never happen anymore.



Good evening WO!
Observing @ $10,870
bitcoinPsycho
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THE NEXT 24 YEARS ARE CRITICAL🍄💊


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September 28, 2020, 07:22:08 PM

A yes from me but I am going to hope my best that it never happen anymore.



Good evening WO!
Observing @ $10,870
Id say 50/50 is fairly accurate
El duderino_
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September 28, 2020, 07:29:06 PM

Will we visit 11k again ?? This night perhaps??
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what is this "brake pedal" you speak of?


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September 28, 2020, 07:33:37 PM

^^

asking the important questions
El duderino_
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September 28, 2020, 08:05:22 PM

^^

asking the important questions

As always....  Roll Eyes
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September 28, 2020, 08:13:52 PM

A yes from me but I am going to hope my best that it never happen anymore.



Good evening WO!
Observing @ $10,870
Id say 50/50 is fairly accurate
Now we are 27/25 as its very cruicial any thing can happen like before 1st October we are going touch $11K and staying on this for some good time.
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September 28, 2020, 09:17:26 PM
Last edit: September 29, 2020, 08:59:36 AM by fillippone

Sorry to bring up this post, but I am once again 50 pages late in reading the WO...



(* Another subject that I recently began to write about, and did not yet finish:  Fractional reserve banking is mathematically impossible with Bitcoin.  Because fractional reserve banking is not what most people think it is—it is worse—it creates money out of thin air, whereas it is impossible to loan new bitcoins into existence out of nowhere.)


Indeed, this is why I have been looking into DeFi.

I see a legitimate function here.
 A new gold standard, where  Bitcoin, the digital gold takes the place of the physical gold, while some higher layer DeFi token, compete in a free market for dominance à la Hayek, allowing a full financial system (yes, with credit allowed by fractional lending) based on a decentralised, trustless framework.
 
EDIT: I am on page 27275
Quote

Bitcoin: a sly, roundabout way



https://twitter.com/sthenc/status/1310673774111371264?s=21
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September 28, 2020, 09:46:24 PM
Merited by cAPSLOCK (1), Searing (1)

I voted for seeing sub $10k again, because it's the only thing that really gives me a sense of fear any more.

Makes me feel alive.
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September 28, 2020, 09:49:51 PM

JayJuanGee
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September 28, 2020, 09:55:59 PM
Last edit: September 28, 2020, 11:52:26 PM by JayJuanGee

I voted for seeing sub $10k again, because it's the only thing that really gives me a sense of fear any more.

Makes me feel alive.

Hey bob.. I like it...

mostly



You fuck


#nohomo

And, the reality of the matter is that the odds are probably greater than 50/50 that sub $10k will be revisited at some point in the near future (between 1 day hour**  to 2 years from now), so why create unrealistic expectations by voting against something that has decently high odds of happening in the whole scheme of things... but such same thing that you prefer NOT to happening?

** Edited to account for how close we had been to $10k at the time that I first posted, which was $10,850 at the time of the original post - two hours later, observing a dip down to $10,629
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September 28, 2020, 09:57:00 PM
Last edit: September 28, 2020, 10:10:30 PM by LFC_Bitcoin





I voted for seeing sub $10k again, because it's the only thing that really gives me a sense of fear any more.

Makes me feel alive.

Haha Cheesy







@VersusTheMan
Normies:

2017: Bitcoin @ $5k - "I missed the boat"
2021: Bitcoin @ $50k - "I missed the boat"
2025: Bitcoin @ $250k - "I missed the boat"
2029: Bitcoin @ $900k - "I missed the boat"
2033: "Dude, my boss just gave me a 100,000 satoshi per year raise!"
https://twitter.com/versustheman/status/1310653661278736385?s=21



@physic
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September 28, 2020, 11:54:05 PM
Merited by jojo69 (1)

Sorry to bring up this post, but I am once again 50 pages late in reading the WO...
(* Another subject that I recently began to write about, and did not yet finish:  Fractional reserve banking is mathematically impossible with Bitcoin.  Because fractional reserve banking is not what most people think it is—it is worse—it creates money out of thin air, whereas it is impossible to loan new bitcoins into existence out of nowhere.)
Indeed, this is why I have been looking into DeFi.

I see a legitimate function here.
 A new gold standard, where  Bitcoin, the digital gold takes the place of the physical gold, while some higher layer DeFi token, compete in a free market for dominance à la Hayek, allowing a full financial system (yes, with credit allowed by fractional lending) based on a decentralised, trustless framework.

HI-TEC99
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September 29, 2020, 01:02:48 AM

Damn, Barting down again.  Angry
Arriemoller
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September 29, 2020, 01:54:41 AM

Again, you are reading from the history books = bullshit  Smiley

Again, what are your sources?

Books of engineers and PhD's who did the qualified research, that is why i am trying to tell you, that you should do your own reading  Roll Eyes Wink

Why don't you read some books of archaeologists instead, you know, the guys that are actually experts on the topic.

Or maybe you consult them when you need to know how to build a bridge.
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September 29, 2020, 02:32:11 AM

the evening wall report


another rejection from 10.9k and this never ending head and shoulder

not looking real great short term here...see if we can glide into October

#dyor
4h


D


D

#stronghands
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September 29, 2020, 02:41:15 AM

Recently we already launch a bitcointalk memes why not we launch a Wall Observer memes? There are a lot of active members on this thread.
From 10.9k - 10.6k real quick.

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