Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[BobLawblaw]

Me: "Hey, Bitcoin. Describe your market action over the last couple days."
Bitcoin: "I found this image from the conference last year for you"



EDIT: The Big Lebowski by Balenciaga

https://www.youtube.com/watch?v=zXApJhzl8yk

[ChartBuddy]

Explanation

[jojo69]

[nutildah]

Can't believe I'm behind gembitz in WO post count.

weeeee

[Xinarae*]

Can't believe I'm behind gembitz in WO post count.

weeeee

Size not be requirement just Enjoy and see brother 

[JayJuanGee]

I did not think you were insulting blacks or gays, but I am a white 66 year old baby boomer so as JJG says what the fuck do I know.

You made a good point once or twice.

It's probably because of how westerners use gas station toilets.

Now I am starting to appreciate that this thread is "going down hill."

https://docs.house.gov/meetings/BA/BA21/20230419/115753/BILLS-118pih-Toproviderequirementsforpaymentstablecoinissuersresearchonadigitaldollarandforotherpurposes.pdf

But what is it?

Are "we" actually supposed to read to find out?

https://docs.house.gov/meetings/BA/BA21/20230419/115753/BILLS-118pih-Toproviderequirementsforpaymentstablecoinissuersresearchonadigitaldollarandforotherpurposes.pdf

Thanks...interesting.

Upon an initial read, here are some nuggets: they distinguish between "payment stablecoins" and "endogenously collaterized stablecoins".
obviously, USDC/USDT fits into cat 1 and cat2 is like infamous 'almost dead' Luna. Cat 1 can only have cash, 90 day Treasury bills, deposits with Fed reserve and 7 day repurchasing agreements for 90 day bills backing it (at least 1:1). Another interesting point: deposits of payment stablecoins are deemed as legally belonging to a person, NOT to the institution which holds them. Even more interestingly, if a payment stablecoin issuer goes bankrupt, stablecoin owners have first dibs on remaining assets (their rights are higher than anybody else).

On a more sombre note, stablecoins are NOT covered by FDIC and it is expressly forbidden telling customers otherwise. BTW, the issuance of new "endogenously collaterized" stablecoins is prohibited for 2 years under moratorium, but current are  grandfathered in. Did not see a part if current "payment stablecoins" (like USDC/USDT) are grandfathered in or not-the doc it too long. Maybe someone else can pinpoint this part.

Obviously, Wall Street wants to "play" with stablecoins, but, personally, I don't see much need for them now, especially when fast payment rails would be established soon. Perhaps, stablecoins is a way for banks to get back into the payments (after they were effectively cut off by the FedNow system).

Oh?

Biodom to the rescue.

 

[TrustedBitcoiner]

if you are reading this, choose to live.

[JayJuanGee]

im doing fine btw...

lmao

If you are Adam.. you went a little coo-coo for coco puffs.. to my recollection... and sure we could revisit some of those olen days.... to see if we might get anywhere from those times versus these times.. and many of us made a lot of mistakes, but we ONLY have now to consider whether or the extent to which we might take some corrective actions... or what we are able to recover in terms of where we have been, where we are and where we might plan to go..

bother, we haven't seen nothing yet.... 32k is a new beginning; starting <2 weeks from now.

crazy how times have changed... and yet here we are... amazing.

Sure.... it's been a crazy 6 years.. (right around the time that you started going a bit loonie.. if that might be you, Adam.. )... and even richieT has somewhat come around, but he seems to have had not fallen as far as some of the big blocker nutjobs.

[edited out]

you slacking bro where's that wall of text??

I have my moments.

how many of us watch this fucking thread anyway??

If you knows?  You knows?  

Times get like this in bitcoinlandia.  Don't you know nuttin.. .tumble weeds sometimes happens....



Any "free" beers to offer "us" while we waits?  (asking for a fren)

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[Ripmix001]

Trader Who Accurately Predicted 2023 Crypto Rally Unveils Full-Bull Scenario for Bitcoin – But There’s a Big Catch.


post

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[bitcoinPsycho]

Chartbuddy dominance 58%

[ChartBuddy]

Explanation

[BobLawblaw]

Size not be requirement just Enjoy and see brother 

[Hueristic]

https://docs.house.gov/meetings/BA/BA21/20230419/115753/BILLS-118pih-Toproviderequirementsforpaymentstablecoinissuersresearchonadigitaldollarandforotherpurposes.pdf

But what is it?

Are "we" actually supposed to read to find out?

https://docs.house.gov/meetings/BA/BA21/20230419/115753/BILLS-118pih-Toproviderequirementsforpaymentstablecoinissuersresearchonadigitaldollarandforotherpurposes.pdf

Thanks...interesting.

Upon an initial read, here are some nuggets: they distinguish between "payment stablecoins" and "endogenously collaterized stablecoins".
obviously, USDC/USDT fits into cat 1 and cat2 is like infamous 'almost dead' Luna. Cat 1 can only have cash, 90 day Treasury bills, deposits with Fed reserve and 7 day repurchasing agreements for 90 day bills backing it (at least 1:1). Another interesting point: deposits of payment stablecoins are deemed as legally belonging to a person, NOT to the institution which holds them. Even more interestingly, if a payment stablecoin issuer goes bankrupt, stablecoin owners have first dibs on remaining assets (their rights are higher than anybody else).

On a more sombre note, stablecoins are NOT covered by FDIC and it is expressly forbidden telling customers otherwise. BTW, the issuance of new "endogenously collaterized" stablecoins is prohibited for 2 years under moratorium, but current are  grandfathered in. Did not see a part if current "payment stablecoins" (like USDC/USDT) are grandfathered in or not-the doc it too long. Maybe someone else can pinpoint this part.

Obviously, Wall Street wants to "play" with stablecoins, but, personally, I don't see much need for them now, especially when fast payment rails would be established soon. Perhaps, stablecoins is a way for banks to get back into the payments (after they were effectively cut off by the FedNow system).

Oh?

Biodom to the rescue.

 

Its not much tougher to read than one of your long winded posts.

Actually I see a attack vector in there that I'm waiting for others to notice.

Maybe ask GPT with the "petertodd" token to ELI5 for those of you using that.

[Hueristic]

Bitcoin: "I found this image from the conference last year for you"

Maybe a KArples "associate".