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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25772096 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. (170 posts by 5 users with 9 merit deleted.)
600watt
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October 21, 2020, 04:39:03 PM
Merited by BobLawblaw (2), ivomm (1), strawbs (1)

Well, it's nice to be officially "wealthy" again at these BTC/USD prices. Freaking surreal.

Too bad the Paypal news is so lame. Not being able to move crypto between accounts, or into your own custody is going to red-pill quite a few folk about "not your keys, not your coins"

Gentlemen.

Yeah, that was one of my initial thoughts too. But that's eclipsed imo by the ability to send your bitcoin to paypal and then be able to spend it anywhere paypal is accepted, which is almost everywhere online. So just one extra step allows us to spend bitcoin almost everywhere. That's huge (no need to keep huge amounts of bitcoin there).

Hmm, it seems that if you cannot send/receive your own bitcoin to/from your paypal account, it's perhaps not as ground breaking as we'd hoped. Still a positive development though.

the timing is fantastic. and also the way they designed the UI with those neat daily %gainZ. how many of the 350 mil users will want to give it a shot and buy for $20 or $50? during the next run-up those millions of people will see the fiat gains every day. it will get them hooked. sucked in. because no coiners are not used to that kind of gains at all. them have been watching their life-insurance or house savings plan appreciate 1% p.fuckingA. basically 350 mio little onramps to the craze. omg.


 Cool
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October 21, 2020, 04:42:42 PM
Merited by Phil_S (2), kurious (1)

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October 21, 2020, 04:43:04 PM
Merited by ivomm (1), BobLawblaw (1)

3 years bear market ended.

5 months after the halving.

Hash rate ATH.

Taproot and Schnorr incoming.

Companies relocating few % of there assets into Bitcoin.

Supply dropping on exchanges.

People already struggling getting 1 full coin.



Nice $100k+ green candle i guess.




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October 21, 2020, 04:44:41 PM

I'm liking the PayPal thing...

My initial thoughts are that we could integrate this as a solution for bitcoin payments on the cruise ship. There are already PayPal NFC point of sale terminals. Everyone just sign up for a Paypal account, load it with BTC and pay everywhere on the ship.

That would allow people that just want to use fiat to do so as well.

There are also ways of loading up an NFC ring with payment details. Much to research but this could be pretty great.

You can't put Bitcoin into Paypal (or take it out) - you can only buy it 'inside' and use it there, if I read up correctly...
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October 21, 2020, 04:47:07 PM

Observing velocity towards $13,000 USD/BTC

Finding resistance at $12911 for some odd reason. Undecided

I'm liking the PayPal thing...

My initial thoughts are that we could integrate this as a solution for bitcoin payments on the cruise ship. There are already PayPal NFC point of sale terminals. Everyone just sign up for a Paypal account, load it with BTC and pay everywhere on the ship.

That would allow people that just want to use fiat to do so as well.

There are also ways of loading up an NFC ring with payment details. Much to research but this could be pretty great.

You can't put Bitcoin into Paypal (or take it out) - you can only buy it 'inside' and use it there, if I read up correctly...

That is right!
You don't own the crypto but the rights to it.

I've seriously been watching too much of those crypto youtubers today. Embarrassed
Gotta use my time more productively. Undecided
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October 21, 2020, 04:49:40 PM

A couple of years ago I had some GBP in a Revolut account at the start of a four month foreign vacation (that's another story), so I thought I might as well swap it for BTC on Revolut's platform. It sat there for the whole four months, increasing in value relative to GBP. At the end of the vacation I swapped it back to GBP and the profit paid for the vacation.

I know that last year there was a queue of over 15,000 waiting to open Revolut accounts.

This paypal news would allow more people to do pretty much the same thing, I suppose. As someone said earlier, presumably Revolut and now Paypal will have to make sure they always hold enough BTC to cover their customers' positions. In which case, for every 'virtual' BTC 'purchased' by a Paypal customer, PayPal would have had to purchase, or will have to purchase, a real BTC.  In which case, the more Paypal account holders who convert their fiat into Paypal's version of BTC, the more demand for real BTC and therefore more CCMF gifs, no?

Good point, they will have to (at least) hedge against the price rising, the easiest way being 'buy an equivalent amount'.  Paypal does tend to take a slice of everything passing through; different currencies are never traded at the actual rate, usually there is 3% shaved off (if you buy overseas in a different currency).  But your point is a good one - as even their virtual BTC will actually need to be backed, because it's volatile.
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October 21, 2020, 04:51:00 PM

Something's happening...

Kraken flatlining for the past 45 minutes.
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October 21, 2020, 04:54:00 PM

Hey all,

Long time reader, long time holder, ex long time miner ... prolly (I think?) first time poster. Usually don't login to read the WO, so the name will not be familiar to the regulars, but I've been here a while.

Holding since .... late 2012(?) maybe .... certainly around Risto times - definitely before Searing (I remember when Searing was just searing, before he was "Brad"). Also remember that dude from HI who convinced everyone he lost his BTC and then scammed some people.....

As a miner I was around for the whole BFL debacle, and got some really good mileage out of my KNC rig before that turned in to a scam.

Annnnnyway.

Canadian (so, looking at Jimbo, maybe(?) for this advice) - but .... likely looking to cash out some coin and retire soon-ish.

Problem is, I'm not that old (late 30ish) and have a pretty solid gig with good benefits and all that.

I really need some advice around the tax hit I might take, and how much I really need to not just live, but live well during the next 40, 50 (+) years.

I recognize I can run the numbers myself (and I have), but looking for confirmation that I've not been off on any assumptions. Question is, who does one ask? Is this an accountant (EY, KPMG, etc?) type question, or a wealth advisor (who best I can tell is just a dope off the street with a spreadsheet) or ... someone else?

Never been much of a money focused dude (beyond knowing that BTC was a revolutionary idea when I heard it) - so - I really don't know who to ask.

I'd rather not dump 5-600 bucks on a meeting that will be no help. I'd like to emerge with a plan with firm numbers and targets attached.




unfortunately I am out of merit. welcome. I wouldn't recommend EY, KPMG, Deloitte or PWC at all! they have no clue. they sail on the ship "blockchain- not bitcoin"
which will be wrecked soon. fidelity? they are (were?) bitcoin miners, they understand it better imho.
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October 21, 2020, 04:59:26 PM



To the moon?
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$120000 by 2023 confirmed 🇺🇦


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October 21, 2020, 05:05:33 PM

Wednesday's love Wednesday's
Last of the V8s
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Be a bank


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October 21, 2020, 05:07:01 PM
Merited by 600watt (1)

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October 21, 2020, 05:15:56 PM

My god, poor mindrust POOR MINDRUST...  Cool

Many men have fallen during battle, we will remember them but the strongest hands march on to the promised lands together.



Will put a MINDRUST number plate on my first Lambo in his memory!  Grin
Last of the V8s
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Be a bank


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October 21, 2020, 05:20:13 PM

if there are any bagpipes at my funeral just flipping shoot me
oh wait. if there are any flipping bagpipes at my funeral i will haunt you to within inches of your sanity
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October 21, 2020, 05:23:04 PM

It's gonna be tough for a lot of idealistic Bitcoiners to accept the fact that some of bitcoin's "layer 2" is gonna be built by people who do not share the cypherpunk ethos.

Thing is... that's really part of the ethos isn't it?  I mean, who is not allowed in the pool?

This is why I have always sort of resisted the whole "fuck the banks" aspect...  Central banks? Yes.  But people like Paypal, Visa, Western Union, Wells Fargo?  They are gonna play or get slaughtered.  They will end up in.. as we are seeing happen.  Bitcoin has to be strong enough to handle it.

Yeah, I agree, I mean bitcoin is a currency, and banks and credit unions and the likes handle currency. It's not like we didn't have banks before fiat money came along.
"Be your own bank" is a bit like "keep your cash in the mattress" If the cash/key is not in your possession, it's not your cash/coins.
your private key on a piece of paper just just takes up less space in the mattress.
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October 21, 2020, 05:23:52 PM
Merited by Paashaas (1), bitebits (1)

3 years bear market ended.

5 months after the halving.

Hash rate ATH.

Taproot and Schnorr incoming.

Companies relocating few % of there assets into Bitcoin.

Supply dropping on exchanges.

People already struggling getting 1 full coin.



Nice $100k+ green candle i guess.






I am gonna risk looking like a jackass... but you know.  No pride etc.

So many models show us kinda leveling out.  Losing volatility, not gaining quite as much as the first 3 times.  Follow the pattern.  Each candle gets a little smaller.   And it makes sense right?  I mean to go from $1 to 1000 takes less than a grand.  1000 to 20000 takes 19 grand.  Etc.  a LOOOOOT of money has to come in to get a cnadle like the first one this time.  Eventually it starts settling down.  Many long term analysts take this basic position.

However.

We have barely seen any adoption.  I think those first few waves?  Maybe more like tremors. (Hmm mixed metaphors)  The big one is still yet to come.  I think it is possible we see a candle at some point that is bigger than the first three.  Or at least breaks the pattern.  The upward part of the "S curve".  We might be about to see it now. when giant corps and nations start getting in. Retail won't really be able to even keep up.  And then after the surprise of surprises, we can see the descending volatility log curve top of the s curve sort of resume.

My biggest fear is it breaks bitcoin.  We are about to get the mamma of all throughput tests.  And we are liable to see BCH and ETH centralize and break.  I actually think LTC has more chance of staying somewhat decentralized than the others.

The right choices were made for BTC.  But we will need to start making the world understand why fees are not the point.  Because I predict they are about to get pretty damn big.
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October 21, 2020, 05:25:26 PM

if there are any bagpipes at my funeral just flipping shoot me
oh wait. if there are any flipping bagpipes at my funeral i will haunt you to within inches of your sanity

do you know why bagpipper players are always marching?

because they are trying to get away from the sound.     
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October 21, 2020, 05:29:56 PM

Well, it's nice to be officially "wealthy" again at these BTC/USD prices. Freaking surreal.

Too bad the Paypal news is so lame. Not being able to move crypto between accounts, or into your own custody is going to red-pill quite a few folk about "not your keys, not your coins"

Gentlemen.

Yeah, that was one of my initial thoughts too. But that's eclipsed imo by the ability to send your bitcoin to paypal and then be able to spend it anywhere paypal is accepted, which is almost everywhere online. So just one extra step allows us to spend bitcoin almost everywhere. That's huge (no need to keep huge amounts of bitcoin there).

Hmm, it seems that if you cannot send/receive your own bitcoin to/from your paypal account, it's perhaps not as ground breaking as we'd hoped. Still a positive development though.

I would have been surprised if they would allow sending/receiving.  Nor BTC withdrawal, and obviously this is a big win for KYC.  And using it as "cash" for purchases will be it being spent at it's market rate etc.

it's messy.  There will be big negatives.  In some ways the status quo companies coming in is a bit of an invasion.

But this is SUCH a positive step in spite of all that.  And now the race is going to be who is the one that offers the most features you want.  Paypal, Square, Baakt, Fidelity, Robinhood, Etc?

This is DEFINATELY one of those "don't let the perfect get in the way of the good" moments.

I think Square/Cash App is going to set the tone for the industry, although PayPal is certainly a 900lb gorilla.

Or what if they used some kind of thunder bolt fast channels between their walled gardens, that would allow KYCed users to transfer their "BTC" between the approved platforms. Step 2?
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October 21, 2020, 05:33:25 PM

3 years bear market ended.

5 months after the halving.

Hash rate ATH.

Taproot and Schnorr incoming.

Companies relocating few % of there assets into Bitcoin.

Supply dropping on exchanges.

People already struggling getting 1 full coin.



Nice $100k+ green candle i guess.






I am gonna risk looking like a jackass... but you know.  No pride etc.

So many models show us kinda leveling out.  Losing volatility, not gaining quite as much as the first 3 times.  Follow the pattern.  Each candle gets a little smaller.   And it makes sense right?  I mean to go from $1 to 1000 takes less than a grand.  1000 to 20000 takes 19 grand.  Etc.  a LOOOOOT of money has to come in to get a cnadle like the first one this time.  Eventually it starts settling down.  Many long term analysts take this basic position.

However.

We have barely seen any adoption.  I think those first few waves?  Maybe more like tremors. (Hmm mixed metaphors)  The big one is still yet to come.  I think it is possible we see a candle at some point that is bigger than the first three.  Or at least breaks the pattern.  The upward part of the "S curve".  We might be about to see it now. when giant corps and nations start getting in. Retail won't really be able to even keep up.  And then after the surprise of surprises, we can see the descending volatility log curve top of the s curve sort of resume.

My biggest fear is it breaks bitcoin.  We are about to get the mamma of all throughput tests.  And we are liable to see BCH and ETH centralize and break.  I actually think LTC has more chance of staying somewhat decentralized than the others.

The right choices were made for BTC.  But we will need to start making the world understand why fees are not the point.  Because I predict they are about to get pretty damn big.


again, out of merit. can't agree more. one of the run-ups will be "the one". where it does not get dumped back 80%. I don't think it will happen this time around. maybe next time. but just in case I am wrong I will not sell majority of stash whatsoever. majority will stay in bitcoin forever.

regarding the fees it will get more crowded again. probably a good thing that all PayPal users are not playing around with their $20 worth of btc on the main chain.
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October 21, 2020, 05:35:27 PM

TRAIN TIME!!!!!!!!!!!!!!!!!!!!!!!!





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October 21, 2020, 05:40:32 PM

I waited to see $12800 for so long!!! Hard to believe we finally here!

Now if only we could hold it above that level for a while...

We visited 'above $12800' land in the summer 2019, but only for a few short hours...
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