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Question: What happens first:
New ATH - 43 (69.4%)
<$60,000 - 19 (30.6%)
Total Voters: 62

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26390145 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.)
psycodad
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精神分析的爸


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March 12, 2023, 01:00:18 PM
Merited by JayJuanGee (1)

I for one am very relieved to hear that the top management at SVB could pay out their boni right on Friday. I mean does nobody think of the managers, working their ass off for us plebs and getting paid in peanuts for the hard work they do (screwing people over full-time is really hard work). If somebody is innocent, then it's them, it's the dumb peasants who expected to get the money out they deposited there who are responsible for this whole fiasco.

Some punter in a local newspaper posted a comment on the SVB story today which immediately resonated with me:

"Bank run, bank run, whatcha gonna do when they come to you?"

I think we are looking forward to a very interesting monday, maybe it will even go down in history as the Bank Run Monday 2023..
ChartBuddy
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March 12, 2023, 01:01:16 PM


Explanation
macson
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March 12, 2023, 01:44:25 PM

USDC was prone to problems from the start I do not know why people thought it was stable and would be around forever. Bitcoin is the only cryptocurrency worth investing in and stable coins are not stable they remain stable until people get bored and stop buying and then they collapse. I do not think USDC will collapse this time but in the next 5 years it will not exist. Bitcoin will exist and will be more stable because it is still around when USDC will not.



USDC = RIP (rekt in peace)
ChartBuddy
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March 12, 2023, 02:01:17 PM


Explanation
_Hiloveua_
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March 12, 2023, 02:12:59 PM

USDC was prone to problems from the start I do not know why people thought it was stable and would be around forever. Bitcoin is the only cryptocurrency worth investing in and stable coins are not stable they remain stable until people get bored and stop buying and then they collapse. I do not think USDC will collapse this time but in the next 5 years it will not exist. Bitcoin will exist and will be more stable because it is still around when USDC will not.



USDC = RIP (rekt in peace)

Since USDC lost its stable value, USDC holders are increasingly leaning towards BTC and buying BTC. So Bitcoin holders wait and see 30k very soon.
BitcoinBunny
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March 12, 2023, 02:20:54 PM
Merited by NeuroticFish (2), philipma1957 (1)

It's OK folks; this bank run is just transitory.


 Roll Eyes
ChartBuddy
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March 12, 2023, 03:01:21 PM


Explanation
LFC_Bitcoin
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March 12, 2023, 03:18:15 PM
Merited by philipma1957 (1), JayJuanGee (1)

It's OK folks; this bank run is just transitory.


 Roll Eyes

Seems a hell of an under current from supposed in the know, financial minds on Twitter. I was too young to be affected myself in 2008 but something similar looks to be very possible, imminently too.

I just hope bitcoin doesn’t get too badly affected.

Edit - Just to add, there is no better place for my money right now than in bitcoin. Short to medium term fiat pairings don’t mean shit.
Lainta
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Bisq Market Day - March 20th 2023


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March 12, 2023, 03:27:37 PM

JUST IN: 🇺🇸 US government to make announcement on Silicon Valley Bank to prevent further fallout.

https://twitter.com/WatcherGuru/status/1634938060004802561?t=mg4lyfOzhxvdmG_0hDP4RA&s=19
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March 12, 2023, 03:28:39 PM
Merited by LFC_Bitcoin (20)

<Imagine/ a Bitcoin brand bottle of vodka.>



Imagine a Bitcoin brand of wine - I don't have to imagine, I've already tried it, it tastes great Wink



shahzadafzal
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March 12, 2023, 03:34:55 PM

dont put more in banks than you can afford to lose

https://twitter.com/jebus911/status/1634730544670932992
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March 12, 2023, 03:37:31 PM
Merited by Richy_T (1)

JUST IN: 🇺🇸 US government to make announcement on Silicon Valley Bank to prevent further fallout.

https://twitter.com/WatcherGuru/status/1634938060004802561?t=mg4lyfOzhxvdmG_0hDP4RA&s=19

“Chancellor on Brink of Second Bailout for Banks”
philipma1957
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March 12, 2023, 03:43:15 PM

Man I stopped fighting buddy and all hell broke loose.

I will continue to not contest buddy and hope for a more interesting effect.

I will say this SVB appears to have been targeted with a massive run by depositors.

Wonder what Mon and Tues bring us
dogebearman
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March 12, 2023, 03:52:03 PM

“Chancellor on Brink of Second Bailout for Banks”

How can they just keep doing this?
Enough!
It's time for someone to invent decentralized, permissionless money.
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March 12, 2023, 04:01:16 PM


Explanation
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March 12, 2023, 04:16:46 PM

“Chancellor on Brink of Second Bailout for Banks”

How can they just keep doing this?
Enough!
It's time for someone to invent decentralized, permissionless money.

goldkingcoiner
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March 12, 2023, 04:51:46 PM
Merited by JayJuanGee (1), bitcoinPsycho (1)

Once again, centralization is pushing the short term value of Bitcoin down. Broken centralized banks that have bound themselves to centralized exchanges are now teaching everyone, once again, what the phrase "not your keys not your coins" means in practice and bears are now spreading FUD with the aim of pushing Bitcoin further down. But I believe we will see a huge bounce-back. I think anyone who sells now will regret it.

Anyway, best time to fill those bags up.
 
ChartBuddy
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March 12, 2023, 05:01:17 PM


Explanation
shahzadafzal
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March 12, 2023, 05:03:04 PM

I will continue to not contest buddy and hope for a more interesting effect.

No worries you gave him a tough time buddy.
aesma
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March 12, 2023, 05:34:53 PM
Merited by vapourminer (10), Biodom (1), Gachapin (1)

Man I stopped fighting buddy and all hell broke loose.

I will continue to not contest buddy and hope for a more interesting effect.

I will say this SVB appears to have been targeted with a massive run by depositors.

Wonder what Mon and Tues bring us

Unless I missed something SVB had most of its money in government bonds. That's supposed to be the safest thing, aside from just holding cash I guess. But people want returns, so the bank has to do something with the money. They only incurred losses because they had to sell these bonds at lower than face value.

If a bank with the safest investments can be brought down by a bank run in a couple of days, what does that tell us about banks that invest in mortgages, corporate bonds, emerging markets ?
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