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

[macson]

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

is she or he 🤨

[1695285510]

1695285510

[1695285510]

1695285510

[philipma1957]

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

I think it’s a show of confidence that holders are happy we’re in the upswing of this 4-year cycle and don’t give a fuck about the price until it’s time to sell. That, or toilet humor is ageless and something we all can enjoy. I think a thread on westerners using toilets in unique ways might be necessary for entertainment purposes.

I’m just glad people aren’t debating whether it is time to sell now or hold until six figures. That would be even more ridiculous.

well I would sell everything at 100k.

but I would still be mining ⛏️. Then I would hodl those coins.

[JimboToronto]

is she or he 🤨

it

[ChartBuddy]

Explanation

[philipma1957]

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

is she or he 🤨

She I think

It looks like a breast next to her wrist, look at the right wrist and the world whale shift a bit left and I think that is a breast.

[El duderino_]

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

I think it’s a show of confidence that holders are happy we’re in the upswing of this 4-year cycle and don’t give a fuck about the price until it’s time to sell. That, or toilet humor is ageless and something we all can enjoy. I think a thread on westerners using toilets in unique ways might be necessary for entertainment purposes.

I’m just glad people aren’t debating whether it is time to sell now or hold until six figures. That would be even more ridiculous.

Hodling my bitcoin
Price surges, temptations rise
Only sell when must

[Arriemoller]

Cold from hell remnant
Still lives in my left nostril
A weird cold indeed

[AlcoHoDL]

"It might make some sense...
...to get some corn just in case."
—S. Nakamoto.

Knowledge ain't power.
It's how you use it that counts.
Many knew, few bought.

There's no one to blame,
But you and your sorry ass,
For not buying some.

Now go belly-down,
And let Bob do his pipe thing,
While Jay batslaps you.

And if you still doubt,
I can offer you no hope.
You're as good as dead.

#5sundayhaikus

[JimboToronto]

Good morn Bitcoinland.
Still over thirty thousand.
Of course keep holding.

Why sell when you can
Take your profits in Bitcoin?
It makes much more sense.

[ChartBuddy]

Explanation

[Biodom]

Cold from hell remnant
Still lives in my left nostril
A weird cold indeed

OT ha, I have something like this....running nose...in a couple of days it transitions to cough....then running nose again....then cough again..2wks already.
Did not check for COVID early enough, now negative...weird.
That 'cold' must have gotten 'something' from the other viruses.

Buuut..it does not matter, the mood is still good due to our favorite pumping higher.

[Bounty _BOX]

Hello everyone,, Btc next movement 33k$. The current price of Bitcoin is 30k$ plus. That means the market is fairly normal now.

[ChartBuddy]

Explanation

[OutOfMemory]

I deleted my post, but decided to repost this "proper use of toilets" sign.

Here's my version, actually shot this in RL in a spa.

[Who is John Galt?]

Hello everyone,, Btc next movement 33k$. The current price of Bitcoin is 30k$ plus. That means the market is fairly normal now.

Anything can be predicted without explanation. If I too would like a bullish rally, it does not mean that the bulls have already arrived. So far, it's been a week of flat. I would say that the continuation of the flat looks more expected in the coming days.

[Torque]

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).

Not sure if I'm saying the same as what you are saying or reading it the same way, but the way I see this whole pursuit of a stablecoin thing is:

1. It's a way to separate investment bank/HNW investor/corporate deposits away from Average Joe deposits. It's all about putting more safety gates/fences around parts of the banking system. Average Joe depositors are broke so they no longer hold all the power to create a "bank run" through withdrawals (because they have very little if any), that power is now in the hands of the other HNW depositors and investors. So they want to limit the potential public fallout and outcry when major money gets moved and a bank's liquidity dries up. "If you have this stablecoin in your wallet, you already have your money, no need to worry." Ok, sure you do.

2. They want to separate out Average Joe deposits to create the necessary liquidity to prevent main street banking disruptions.

3. Main street banking liquidity will move from a "long term liquidity with hard backing assets" model to a "liquidity on demand with no real collateral behind it" model for most run-of-the-mill, regional banks.

4. This will just create or increase more of a liquidity problem everywhere else, and allow them to further increase the fractional reserve model(s). Nothing will change, in fact the fragility of the global financial system will just continue to deteriorate.

5. Average Joe could still be left holding the bag and take a hair cut if the stablecoin has a crisis and goes belly up. FDIC will no longer be there to protect the Average Joe who is holding it. Because they still ultimately want Average Joe to foot the bill if things go bad (i.e., "Privatize gains, Socialize losses", remember?)

This is why you can't trust any of this shit. It's not being set up for our best interests, but theirs. Shit is shit, and you can smell it from a mile away.

[philipma1957]

well if we are repeating 2019 we get to 70% of all time high.

that was in july 2019 14k was 70% of 20k. rounded for ease.

so 49k is 70% of 70k rounded for ease of reading.

So 49k hits in next 3-4 months and we tank again till 2024 fall

and peak in spring 2025.

It could happen.

[HI-TEC99]

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

is she or he 🤨

[HI-TEC99]

...

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

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

...

You want a return to its glory days when JorgeStolfi, r0ach, NotLambchop, gembitz, and fonzie were "serving this community thread with valuable information"?

WO's 10Th Anniversary


...Special thanks to all the users who keep serving this community thread with valuable information.


Special thanks to

ChartBuddy   ,JayJuanGee ,El duderino_ ,adamstgBit , Last of the V8s ,HairyMaclairy, LFC_Bitcoin, jojo69, JimboToronto, Torque, bitserve, Fatman3001,JorgeStolfi, BlindMayorBitcorn, Richy_T, BobLawblaw, Biodom, d_eddie, Toxic2040, realr0ach, xhomerx10, Hueristic,j breher, empowering, billyjoeallen, Ibian, Arriemoller, gentlemand, NotLambchop, cAPSLOCK, Elwar, marcus_of_augustus, ShroomsKit, podyx, OutOfMemory, fonzie, serveria.com, BitcoinGirl.Club ,sirazimuth, Paashaas, philipma1957, VB1001, AlcoHoDL, spooderman, lightfoot, seleme, macsga, Davyd05, savetherainforest, TERA, infofront, inca, Rosewater Foundation, fillippone, 600watt, DaRude, derpinheimer, BitcoinBunny, Wekkel, kurious, windjc, BTCMILLIONAIRE, tarmi, vapourminer, Cryptotourist, HI-TEC99, Gyrsur, mmitech, hdbuck, Lambie, Slayer, aminorex, Phil_S, bitcoinPsycho, dreamspark, kingcolex, somac, Globb0, gembitz, becoin, nutildah,  Walsoraj, wachtwoord, Searing, shmadz, Sitarow, yefi, oda.krell, goldkingcoiner, N12, Rampion, mindrust, shahzadafzal, molecular, JSRAW, Meuh6879 ,ivomm, noobtrader, Raja_MBZ, Cconvert2G36, r0ach, Gachapin, vroom, eXPHorizon, aesma, imThour, cygan,,,,,so more users

Username taken from: ninja.space top 100 users according to their amounts of post.

[ChartBuddy]

Explanation