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Question: What happens first:
New ATH - 43 (69.4%)
<$60,000 - 19 (30.6%)
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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26368570 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.)
death_wish
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June 18, 2022, 10:03:31 AM

Looking at USDT and USDC is interesting. USDT is dropping, USDC is increasing. Perhaps this is one large seller dropping the market, and he is exiting through Tether.

You scared me!  Talking about market cap, not spot price?  (Your graphics aren’t loading properly for some reason, but I infer from other replies.  For future readers, USDT is still firmly pegged from where I sit.)

I hate USDC.  I hate it with fire.  Circle is evil (and don’t forget, they were S2Xers, etc.).

I said in some earlier post (no time to search when not handy), I call USDC a Trojan Horse de facto CBDC by the back door.

USDC has been massively promoted with the rise of defi.  Most folks here do not have the vantage point to see it.  I have seen USDC growing like a tumour, eating up Tether’s market.  Tether is only dominant on Ethereum, and some centralized exchanges/big traders (especially Asian).  Everywhere else nowadays in defi-land, USDC is already dominant.  On some newer defi chains, USDT doesn’t even exist; it is USDC or nothing.

Anyway...  (A) is proceeding apace; remember the pumps to $32k and all the hope, before we very suddenly dropped from $30k to $28k to 200 WMA ~$22.3k to $20k to $19k to.....  (B), I hope will not happen.  (C) is largely done, but still ongoing.  (I should modify what I said in another recent post:  I think the reason some alts seem now to be falling less than BTC is that they are already almost burnt to the ground.  From my perspective, altcoin markets have been breathing an extended dying gasp for the past month.)

A. Bull traps.  Destroying long-term confidence in BTC needs not one big crash, but a series of fake recoveries followed by worse crashes, false hopes, broken dreams.  This is psychological warfare as much as economic warfare.  We now have memes about "Slaying of a Bearwhale", Honey Badger - a common belief that BTC always recovers and goes up.  Evil Hat wants to replace that with a popular belief that "what goes up, must come down".

[...]

B. Knock Tether off its peg. [...]

C. Systematically annihilate the altcoin markets.  A few thoughtless types of Bitcoiners would cheer for this.  They would not pause to contemplate [...]
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June 18, 2022, 10:04:21 AM

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The question is do you wanna buy something in the short term or not? If the answer is no, i dont see a reason to sell. Escaping into the dollar will save you from what?

No, I dont want to buy anything. Yes, maybe physical gold, to rescue my money from couple psychopaths that want us own nothing and be happy. I am pretty emotional right now so I wait this to settle. I did not expect it really would drop below 2017/18 ATH. This is a critical level for me. I was thinking that we could see 18K but I was not expecting it. And it does not even bounce. All those 6 digits predictions were wrong so I was sure all those sub 20K predictions will fail either.
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June 18, 2022, 10:06:15 AM

Looking at USDT and USDC is interesting. USDT is dropping, USDC is increasing. Perhaps this is one large seller dropping the market, and he is exiting through Tether.

You scared me!  Talking about market cap, not spot price?  (Your graphics aren’t loading properly for some reason, but I infer from other replies.  For future readers, USDT is still firmly pegged from where I sit.)

I hate USDC.  I hate it with fire.  Circle is evil (and don’t forget, they were S2Xers, etc.).

I said in some earlier post (no time to search when not handy), I call USDC a Trojan Horse de facto CBDC by the back door.

USDC has been massively promoted with the rise of defi.  Most folks here do not have the vantage point to see it.  I have seen USDC growing like a tumour, eating up Tether’s market.  Tether is only dominant on Ethereum, and some centralized exchanges/big traders (especially Asian).  Everywhere else nowadays in defi-land, USDC is already dominant.  On some newer defi chains, USDT doesn’t even exist; it is USDC or nothing.

Anyway...  (A) is proceeding apace.  (B), I hope will not happen.  (C) is largely done, but still ongoing.  (I should modify what I said in another recent post:  I think the reason some alts seem now to be falling less than BTC is that they are already almost burnt to the ground.  From my perspective, altcoin markets have been breathing an extended dying gasp for the past month.)

A. Bull traps.  Destroying long-term confidence in BTC needs not one big crash, but a series of fake recoveries followed by worse crashes, false hopes, broken dreams.  This is psychological warfare as much as economic warfare.  We now have memes about "Slaying of a Bearwhale", Honey Badger - a common belief that BTC always recovers and goes up.  Evil Hat wants to replace that with a popular belief that "what goes up, must come down".

[...]

B. Knock Tether off its peg. [...]

C. Systematically annihilate the altcoin markets.  A few thoughtless types of Bitcoiners would cheer for this.  They would not pause to contemplate [...]

Coinbase is a member of the world economic forum. That could explain your USDC -> CBDC theory.
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June 18, 2022, 10:13:41 AM

goldkingcoiner:  Last chance to show, at least, that you are not a cheap talker.  I will not continue chasing after you as you evade—well, not in WO.  You are doing paid advertising for a casino in your signature and avatar, but you won’t bet your own money on Dabs’ personal hounour?  LOL.

I am sure that from death_wish's perspective, Dabs's charity for starving children is a reportable offense as well. And if I were to take his stupid bet, I am sure he would consider children's charity a form of "begging" as well and nag me for my money until I gave up.

Since you are a stupid n00b, I must explain to you how this works:

You and I each transfer money to escrow.  Reputable deep-green escrow, with a long history of handling large escrow deals on this forum (much larger than 1.1 BTC total!).  Someone with no conflicts of interest (including no personal conflicts with anyone involved here).  I have someone in mind—a neutral party, with whom I have no prior COI relationship (and also no personal conflict).  It would be someone acceptable to every reasonable forum member—not one of my pals.  If that escrow declines to handle this wager, then I would consider others.

The escrow takes the deal with a precisely stated contract—with terms digitally signed by you, and digitally signed by me.  Reputable escrows refuse to handle a deal, unless there is a precisely stated contract.

After evidence comes out (or if a deadline passes with no adequate evidence), then the escrow releases money according to the terms of the contract.  There is no “nagging you for money”.  I don’t trust you to pay up, anyway:  That is why I require escrow.  I myself am happy to pay upfront into escrow, so you will have no worries that I renege.  The escrow will have my money and your money.  100% above-board, fair on both sides.

All of this must occur in public, so that everyone can see that the wager is fairly settled.

Bonus:  If you win the bet, then you take away my money—and if you want, you can give it to to Dabs!  Or you can stipulate in the contract that your winning is payable to Dabs.  0.1 BTC to Dabs.  You are so “very sure”.  Are you willing to risk 1.0 BTC of your own money on Dabs’ honourable history?  If you are sure, then go ahead:  Crush me, and get 0.1 BTC assistance to Dabs at no cost to yourself!

You have insulted me egregiously.  You have said you are “more than sure”.  How much of a coward are you?




Approximate terms of wager—pre-alpha version rough draft, with informal language; I would tighten up and formalize it with proper contractual terms, before submitting it to escrow:

I say that there will soon* appear in public a preponderance of evidence that in the past, long before the current market crash (say, >= 1 year ago), Dabs PMed a stranger with whom he had no prior relation, told some hard-luck story, and requested money to assist himself.  [Edited to add (archive of unedited original):  This was when Dabs was already high-rank, high-trust, and had a long-established escrow business plus long-running charity threads.  Not even something that anyone could even try to excuse as clueless-newbie misbehaviour.]

goldkingcoiner says that’s outrageous—never happened!

If the statement that I have hereby made is true as to fact, then I win the bet.

If the statement that I have hereby made is false as to fact, then goldkingcoiner wins the bet.

* “Soon” means a deadline—say, prima facie evidence within 24 hours after the bet contract is fully formalized, and escrow confirms receipt of funds from both parties.  (If the evidence is disputed, then reasonable further time may be allowed on both sides to develop a preponderance of evidence.)  If no adequate evidence appears before the deadline, then goldkingcoiner wins the bet by default.

The bet shall be settled upon judgment of escrow, precisely according to the terms of the contract, in a public thread where everyone can see that it is fairly judged.  I absolutely require escrow for this.  All funds from both sides must be paid upfront into escrow.

I offer to bet 0.1 BTC against goldkingcoiner’s 1.0 BTC (10x odds).  I would wager more, but I will need to take upfront extreme losses and risks just to scratch together 0.1 BTC.  That’s a worthwhile cost, to win 1.0 BTC.  Sacrificing and risking to gather 0.1 BTC and then losing it would destroy what little is left of me; it would largely demolish my emergency reserves, to the degree of “I wish I could continue eating”.  I am obviously quite confident that I will win the bet.

Moreover, I think that the contract should also stipulate that the deep-green DT escrow shall give negative trust feedback to the loser of the bet:  To me for defaming Dabs, or to goldkingcoiner for defaming me and smearing me as a liar.  Both sides agree in advance to accept this permanently, without protest.


I have no problem with both the concept of a bet to attempt to resolve a difference of opinion.. and I agree with several of the points that you had made in your earlier post D_W.. but holy shit.. you want to take this to a way further level than even seems plausible..

No one is going to bet you when you are getting so excited about the issue and even seeming to unilaterally impose the betting terms, even though some of those terms are not unreasonable.. but some of them are a bit much (and seemingly emotionally laden, too).. but still format wise.. it seems reasonable to outline some of the terms if the other party might be amenable to entering into such a bet..

Sure, I understand that if you feel that you have a winning bet then you may well want to get the other side to bet a larger amount.. but even according to yourself, you don't even have 0.1BTC.. and for sure, hardly anyone would want to run the risk of losing a whole BTC unless you just happen to find a gambler who might be as deranged as ur lil selfie.

Another thing is that goldkingcoiner said that he did not even want to bet you, and sure there could be a way of making the terms bettable.. but 10/1 odds?  I am having my doubts if those are fair reflections of the level of confidence being expressed, so far.. but sure, if you can get someone to proclaim something to be nearly certain about some facts, then yeah.. I suppose 10 to 1 odds is more than reasonable .. since it is 90% rather than 100%.

Even if we could arrive at 10 to 1 odds, I would think that your budget might really ONLY be able to allow you around .001 at most.. perhaps?..

and by the way.. even though goldkingcoiner does seem to like betting.. part of the reason that goldkingcoiner likely has a decent amount of BTC would be that he is likely somewhat measured in the ways that he bets.. we have already seen quite a bit of that from his historical forum participation..  

By the way, I was considering not saying anything.. but from the whole escalation angle ... holy moley.....    You might even make a street fighter start to feel uncomfortable.. and I would hope that our atmosphere here need not be that rough and tumble even though we might want to verbally throw down on some of the various issues from time to time... but still..
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June 18, 2022, 10:19:00 AM

holy shit, we're dead


Welcome to the party! Cheesy Cheesy  .. Pretzels and Eggnog are on the table in the kitchen.   Roll Eyes   Roll Eyes

no blow and hookers?


The hookers are with us in the livingroom. And blow is counterfeit these days.   Roll Eyes   Roll Eyes   Cool
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June 18, 2022, 10:22:33 AM



Steadyyy!
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June 18, 2022, 10:30:16 AM

Modification of terms:  I say that there is also at least one other PM, in addition to the one to Wilhelm (which I did not know about).

Accruing evidence of habitual PM-begging.

I believe that it may well be acceptable to describe some contents and context of PMs.. but it is generally not a good practice to either disclose them or offer to expose them.. and I am not sure if the fact that such PMs might break forum rules would be enough because there is already a remedy for that, which is to hit the report button within the PM.
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June 18, 2022, 10:31:13 AM

I'm bored. Going to bed early.
Let's see what happens...

Filled @ $20,500 for another 0.012 sats worth.
Found the bottom?

Filled all the way down to $18,750. One order left outstanding @ $18,500.

Stacked over 0.21 additional coin since it started sliding.

Back to sleep for me... I guess...
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June 18, 2022, 10:32:14 AM
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Waiting for the megavolume before this is over. Breaking below the previous ATH is a big deal, but so is bitcoin, so take your pick. Honey badgers play dead for a bit after they're bitten, so even if this bad boy falls over, it will get up again.

10k not impossible, but 1 BTC = 1 BTC so I'm taking the low stress option and staying out of any trading shenanigans.
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June 18, 2022, 10:35:05 AM

lol

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June 18, 2022, 10:42:10 AM

ImThour
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Bitcoin Bottom was at $15.4k


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June 18, 2022, 10:43:05 AM

10k not impossible, but 1 BTC = 1 BTC so I'm taking the low stress option and staying out of any trading shenanigans.

Sounds like a good plan.
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June 18, 2022, 10:43:28 AM

lol



They will rekt these longs before market goes up any further.
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bitcoin retard


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June 18, 2022, 10:45:58 AM

Yeah but your bounce is not bounce
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June 18, 2022, 10:47:47 AM

WHAT!?

As I was sitting here trying to do the community a service, I almost got liquidated for the last of my BTC.

Such a fast crash!  I saw it dip under $20k.  By the moment I got into my account, it was at 0.63% health.  I got in the 100 USDT I gathered earlier (and should have immediately added, duh).  Probably beat the liquidator bot by a few milliseconds...  It has already wicked below the liquidation price that I had before that deposit (~$19,170).

How fast can we fall another $2,000?  Undecided

Hey, look, don't trade! Just don't fucking trade. Not right now. This IS a financial advice. Don't do it. You're bad at it...  Cool

Understatement of the year...

 Cheesy Cheesy Cheesy Cheesy Cheesy Cheesy

^


JJG!
   Cheesy   Cheesy   .. You probably wrote that message for 1 hour and 30 minutes! And you didn't see the price go down! Cheesy Cheesy

Wat?

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Never selling


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June 18, 2022, 10:49:05 AM
Last edit: June 18, 2022, 11:19:02 AM by somac.

lol



They will rekt these longs before market goes up any further.

Many people reckon these are hedges of spot short positions

What ever it is, it has something to do with these falls I know it.

EDIT: Actually this is probably the whale/s who are driving the price down. By hedging with long futures it means they don't have to buy their short spot position back. The short trade does not need to be closed then, essentially preventing an increase in price.
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武士道


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June 18, 2022, 10:50:06 AM
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Quote
The question is do you wanna buy something in the short term or not? If the answer is no, i dont see a reason to sell. Escaping into the dollar will save you from what?

No, I dont want to buy anything. Yes, maybe physical gold, to rescue my money from couple psychopaths that want us own nothing and be happy. I am pretty emotional right now so I wait this to settle. I did not expect it really would drop below 2017/18 ATH. This is a critical level for me. I was thinking that we could see 18K but I was not expecting it. And it does not even bounce. All those 6 digits predictions were wrong so I was sure all those sub 20K predictions will fail either.
Gold could be one way for peace of mind, to save some of your purchasing power long term, just don’t expect major gains from it.

Im not too concerned about what is happening now, because 1. the economic environment is way different than 2017/18, the biggest winners will probably be industrial commodities now. 2. the market will probably go after as many liquidations as possible, if you see how many btc ponzis like celsius are holding. 3. if we go back to a longer time horizon and evaluate Bitcoin from an economic point of view, nothing changed, if we’re looking at how money comes into existence, there’s many factors speaking for a slow long term organic adoption as hard money first.
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June 18, 2022, 10:54:42 AM

10k not impossible, but 1 BTC = 1 BTC so I'm taking the low stress option and staying out of any trading shenanigans.

Sounds like a good plan.

No bro 😁😁 not really this plan is consuming my Life forced haha.

I'm Just trying to avoid market but market is calling me that see how you lossing it.
2T + market is bend on the value of the 880M thats called a next level destruction 😁😁. But Really this Experience is unforgettable and it will help in future if we lived in this blood shed.
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Bitcoin Bottom was at $15.4k


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June 18, 2022, 11:01:17 AM
Last edit: June 18, 2022, 11:49:24 AM by ImThour

I think most of the whales are targeting this liquidation price.  Roll Eyes
BTW This is the liquidation price of Celsius.


https://defiexplore.com/cdp/25977
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ


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June 18, 2022, 11:03:26 AM


Explanation
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