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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25497707 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. (158 posts by 14 users with 9 merit deleted.)
ChartBuddy
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August 05, 2021, 12:01:35 PM


Explanation
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August 05, 2021, 12:44:34 PM


url online

A maybe difficult update

Scooter cruising and just made a passing by picture….

Again, damn xhomerx was fast with Greece already

Intentionally obscure photos, but judging by the sea in the background, the landscape, and color of the villas, would that be Corfu?
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August 05, 2021, 01:01:33 PM


Explanation
El duderino_
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August 05, 2021, 01:11:04 PM


xhomerx10
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Go! BTC Go!


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August 05, 2021, 01:24:19 PM
Merited by vapourminer (1), bitcoinPsycho (1), eXPHorizon (1)




 Zakynthos!

edit:
Code:
https://www.google.com/maps/@37.7994416,20.9022346,3a,75y,168.38h,84.22t/data=!3m6!1e1!3m4!1sWxacvl6tftFlCyIKJCstJA!2e0!7i13312!8i6656?hl=en-US
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August 05, 2021, 01:30:04 PM
Merited by xhomerx10 (2)

FUCK !



https://www.google.com/maps/@37.8003438,20.9026674,3a,49.9y,124.24h,87.15t/data=!3m6!1e1!3m4!1sphAXURjVmH_aSt9HSxiX7w!2e0!7i13312!8i6656?hl=en-US


And here is the Boat... time passed so they remodeled it xD

Wow homer you are really good at this Cheesy
El duderino_
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August 05, 2021, 01:31:55 PM




 Zakynthos!

edit:
Code:
https://www.google.com/maps/@37.7994416,20.9022346,3a,75y,168.38h,84.22t/data=!3m6!1e1!3m4!1sWxacvl6tftFlCyIKJCstJA!2e0!7i13312!8i6656?hl=en-US

Correct

Gonna need to merit later though

I’m at my maximum of 50 merits in 30 days for you Cheesy
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August 05, 2021, 01:43:10 PM




 Zakynthos!

edit:
Code:
https://www.google.com/maps/@37.7994416,20.9022346,3a,75y,168.38h,84.22t/data=!3m6!1e1!3m4!1sWxacvl6tftFlCyIKJCstJA!2e0!7i13312!8i6656?hl=en-US

Correct

Gonna need to merit later though

I’m at my maximum of 50 merits in 30 days for you Cheesy

 You don't have to give me any more merits!  You already gave me more than enough for guessing Greece Smiley  I always enjoy the "where's El duderino_?" challenges.
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August 05, 2021, 01:46:11 PM

well played...meh...another day another battle

dyor




stronghands
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August 05, 2021, 01:54:07 PM

Is this what the bears only can do?
Lol there running out of btc?


Soon moon and beyond  Shocked
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August 05, 2021, 02:01:26 PM


Explanation
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ESG, KYC & AML are attack vectors on Bitcoin


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August 05, 2021, 02:04:06 PM

At one point he commented, “[Bitcoin] has been and could continue to be a catalyst for change in the fields of finance and money.”

Elsewhere, Gensler issued new remarks that shed light on how the SEC may act on the many exchange-traded fund (ETF) proposals now up for review by the agency, signaling that those based on Bitcoin futures may have the highest chance of approval.

“Given these important protections, I look forward to the staff’s review of such filings, particularly if those are limited to these CME-traded bitcoin futures,” he said.


... this figures, the only ETF to get approval will be based on fiat cash-settled futures trading only. This way they can keep manipulating btc price and price expectations without risking value escaping the fiat pyramid scheme with runaway retail demand for exposure to btc upside, i.e. a btc-backed ETF.

Yes, that's probably correct. As far my understanding of an ETF goes, if it is based on the spot market, then it is like buying the underlying asset and keeping it on behalf of the ETF holder. But if it is based on a derivate market then the ETF holder is allowing the company to make long/short positions insted of him doing so in CME. So IMO an ETF based on a derivate market is a nonsense. The thing is that SEC trusts regulated exchanges like CME and they don't trust fully Coinbase, not to mention Binance and the asian exchanges.  We've seen plenty attempts of whales to manipulate the market in the past indeed. But the funny thing is that nowadays only CME companies have the resources to manipulate the market and they are doing it constantly unfortunately.  SEC created so many rules, and yet just under their nose Maydoff developed a huge ponzi stealing $50 bil from almost all banks and Wall Street companies. The average Joes who trusted their brokers/funds, etc., were called by the phone one day that all their money has gone, because their fund invested everything in the company of the creator of Nasdaq - Maydoff. Is this custormers protection and KYC what looks like? Nothing has changed since then! But surely, some shadowy coders and money launderers are manipulating the price which is formed on the biggest exchange Binance with daily Bitcoin trading volume $2-16 bil. Only Wall Street companies can do that and there is a lot of proof they are doing it using exactly CME. Ironic, isn't it?

Anyway, after approving CME's ETF, the next step should be approving Grayscale's ETF.  If SEC want to be overly cautious, let them take one step at a time. The truth is the institutions will find one way or another to get real Bitcoins, so an ETF is more like "buy the rumour sell the news" kinda thing. The latter it comes, the better. I wouldn't mind if SEC will change their mind when the price is >10x from now. This will give us more time to accumulate at the current extremely low prices, thanks to CME manipulators.


I suppose that there is quite a bit of truth in what you seem to be suggesting regarding the seemingly double standards in what might be considered as various kinds of ETF set ups that tend to be more tolerant for financial (ETF) instruments that are complicated as fuck rather than straight forward, and I suppose various status quo institutions and players want to be able to see if they are going to be able to use such financial ETF instruments to manipulate BTC to their advantage rather than attempting to be more reflective of straight forward spot BTC values - and sure if any BTC instrument, such as an ETF is allowed to be settled in anything other than BTC, then by nature it is allowing the creation of new bitcoin (bitcoin vouchers or whatever you might want to call them), and surely many of us bitcoin supporting peeps are hoping that these kinds of guys get reckt as fuck when the leverage down BIGGEDly in these various kinds of financial instruments that are settled in non-BTC assets/cash.

We'll see what happens, and none of us should be surprised that there continue to be a lot of creative ways to attack bitcoin, and in the end, are those attacks going to be successful or just cause more friendly jurisdictions to take some of the bitcoin business and presumably benefit from the jurisdictional arbitrage - still watching how places like El Salvador is fairing in terms of building bitcoin infrastructure and if such bitcoin infrastructure will remain friendly, and surely ONLY some larger jurisdictions are going to be capable of taking some of the financial instruments market - and presumably Canada is advantaging somewhat from their involvement in bitcoin ETFs... even though we likely appreciate that some BIGGER financial players that are in the USA are not able to use financial instrument products outside of the USA.
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August 05, 2021, 02:54:24 PM
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Institutions already have "real" ETFs, just not in the US, other countries. Plus they can always buy holdings in MicroStrategy, and some other mining companies as proxies for BTC.

Of course, they can always appoint someone they trust, probably a small group in their company, to go directly buy BTC from the exchanges. They can buy from Gemini and Coinbase, those are US based too. That small group can then set up a multi-sig wallet or vault and have proper procedures for self-custody. 3-of-5 or even 3-of-7 multisig and each one has a backup appointed, so no 2 people can just steal it and those can all be tracked and whatnot..

Although with corporations that aren't very high tech or people who don't understand the tech as well as we do, it is still possible they get compromised, but this is unlikely.

They can also get service from unchained capital or casa or one of the other multi-sig providers.

BTC = BTC no matter where you buy it.
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August 05, 2021, 03:01:35 PM


Explanation
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August 05, 2021, 03:18:19 PM

This brother like a sharp rise….. hate a sharp dump

I would say that, so far in this particular correction over the past 5 days or so, we have not really had any sharp dump, and we have been bouncing around with a kind of gradual decline for the past 5 days or so, but we also likely can appreciate that gradual declines could lead to sharp dumpenings at some point too, in the event that a pumpening does not come first.   Cry Cry Cry

So, sometimes when guys start to get excited and talk about either the $28,600 bottom being "in" or speculating that we are going to be visiting new ATHs imminently, we gotta be careful about presuming too much UPpity before getting sufficiently out of the $30k-ish doldrums.

I don't want to be any kind of a negative nancy, for sure, but sometimes it takes some time to get through these kinds of consolidation periods - and surely these tend to bring decently good times for bitcoin newbies to get started and to have some time to set up accounts, do some learning about bitcoin and establish some kind of a bitcoin base - but never really seem to be the times that newbies are getting us out of these kinds of messes and establishing a good foundation for their lil selfies..

It's not too often that we hear about the newbies getting gung ho during periods like this, whether we are talking about in real life interactions or even the various interactions that we might have online... Do we see newbies coming to threads like this and proclaiming that they have set up bitcoin accounts, they are reading about bitcoin and that they are establishing their bitcoin base - sure it happens, but not that common of a dynamic... Seems to me that it is probably just various long time HODLers who continue to hodl, refuse to sell their coins and just picking up coins at the bottom to the extent that they can from time to time before we finally break out - presumably UPwardly at some point.....

Yeah, yeah, yeah.. like the rest of us longer term HODLers and accumulators, I would prefer to experience a wee bit MOAR UPpity (and especially breaking above $46k) sooner rather than later, but what you going to do, what you going to do in the meantime besides just live your life? 

I mean that these should not be really especially trying times for us longer-term HODLers when we are looking at about 3.8x up from early September (so nearly 10 months now), but sure those folks entering in the past less than 6 months might be still nervous, but still have trouble appreciating the truly longer term investors being so nervous, even though I can appreciate that there are circumstances that the majority of the investment wadds could have been blown too early, including the buying of BTC on the dip all the way down from $50ks into the upper $40ks and then running out of the vast majority of investment cashflow before we even reached the $30ks.. but at the same time, since we have been in these $30k doldrums for about 2.5 months, there should have been some opportunities to pick up a few coins in the $30ks... and so that could be the bright side of this whole matter, including perhaps just continuing to have a bit more time to pick up some coins in the $30ks.. perhaps? perhaps?  Actually, when you think about it, 2.5 months is not really a very long time to be in the duldrums.. so not sure if we are going to be here a lot longer and I suppose that some of the frustration does come because we are "supposed to be" in a bull market.. and gosh looking at 2013, we could see that there are possibilities to stay in a down doldrum for 6 months or so and still stay in a kind of bullmarket with a blow off top at the end.. and that one had gone 5x from the previous top and the blow off top played out in just a few months.. and for some reason it seems that our current situation would not end up playing out with too much similarity to the 2013 period.. but who knows? 

Institutions already have "real" ETFs, just not in the US, other countries. Plus they can always buy holdings in MicroStrategy, and some other mining companies as proxies for BTC.

Of course, they can always appoint someone they trust, probably a small group in their company, to go directly buy BTC from the exchanges. They can buy from Gemini and Coinbase, those are US based too. That small group can then set up a multi-sig wallet or vault and have proper procedures for self-custody. 3-of-5 or even 3-of-7 multisig and each one has a backup appointed, so no 2 people can just steal it and those can all be tracked and whatnot..

Although with corporations that aren't very high tech or people who don't understand the tech as well as we do, it is still possible they get compromised, but this is unlikely.

They can also get service from unchained capital or casa or one of the other multi-sig providers.

BTC = BTC no matter where you buy it.

Sure Dabs, but seems to me that the excitement about possible US based ETFs has to do with so much US money being tied up into a variety of retirement funds that are way more conservative in terms of what they are willing and able to do in order to get exposure to their funds or the individuals within those funds to be able to select something with BTC exposure within the funds.

I do appreciate your point that with the passage of time, there are folks finding work around ways to get exposure to BTC, but I still think that there are a lot of folks who appreciate the officialdom of an ETF fund - because there does seem to be quite a bit of capitalization / accountability requirements in such a fund - even if it might have some weird ways of being designed in terms of how us direct BTC HODLers might consider to be BTC exposure.

It would be hard to imagine scenarios that a US based bitcoin ETF would not be bullish for bitcoin, and sure in terms of bitcoin's price going up, it is likely going UP whether there is an ETF or not, but we do live in a world that has a lot of financialization of a lot of products, so various kinds of financialization are seeming inevitable for bitcoin, whether they are more straight forward instruments, like and ETF or a large number of work arounds that might add up to very similar financialization dynamics, but merely with less straight forwardness.
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August 05, 2021, 04:00:21 PM
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Re-accumulation incoming or healthy correctly before further upside?

The descending triangle was a complete bear trap, unsurprisingly in a long-term bull-trend, however the $40K level remains as strong resistance.



Hash Ribbons buy signal is getting closer, though with price currently correcting is unlikely to signal a buy opportunity in the immediate future:



As long as price holds the short-term 0.618 fib replacement level at $37,570, then admittedly there's nothing to suggest that $30K will be re-tested of lower prices are to come.



Why tradingview images no work anymore  Huh Huh
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August 05, 2021, 04:01:27 PM


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August 05, 2021, 04:02:33 PM

Although with corporations that aren't very high tech or people who don't understand the tech as well as we do, it is still possible they get compromised, but this is unlikely.
They will hire the tech guys to secure their assets this will not be a problem.
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August 05, 2021, 04:08:17 PM

You will appreciate :


"Do not store up riches for yourselves here on earth, where moths and rust destroy, and robbers break in and steal. Instead, store up riches for yourselves in heaven, where moths and rust cannot destroy, and robbers cannot break in and steal. For your heart will always be where your riches are." –Matthew 6:19-21
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August 05, 2021, 04:11:43 PM
Merited by bitcoinPsycho (1)

Oh dear, another nutcase found WO.

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