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

[MERlT]

(cut)

Thanks for an in-depth analysis of my post
I see your point and completely agree, especially that I have no real data to back my claims. It's just a feeling that I have and I hope it's a good one, cause I'm out of cash to buy another dip.

You know you made it when current Bitcoin fees do not bother you because you are hodling. But it is hurts to see the ordinal scammers smearing Bitcoin's name with their Bullshit-Rort-Con 20 tokens.

Well, at least the miners are making decent profits off the idiots who actually fall for the BRC20 scam. Enjoy it while it lasts (Protip: it wont).

It will last long enough to bring BTC price to ?

I say they are looking to get BTC to drop to 25K or 24k

I don't think they ( meaning the scammers) are looking for a certain price of bitcoin.
They're focused on their scam pepes and other shitcoins and bitcoin is just a means to an end to them. It's a road they're traveling on to bring fake money from home to a lambo dealership.

You could be right and if you are it will be over very soon.

Humans can't have nice things.

[goldkingcoiner]

(cut)

Thanks for an in-depth analysis of my post
I see your point and completely agree, especially that I have no real data to back my claims. It's just a feeling that I have and I hope it's a good one, cause I'm out of cash to buy another dip.

You know you made it when current Bitcoin fees do not bother you because you are hodling. But it is hurts to see the ordinal scammers smearing Bitcoin's name with their Bullshit-Rort-Con 20 tokens.

Well, at least the miners are making decent profits off the idiots who actually fall for the BRC20 scam. Enjoy it while it lasts (Protip: it wont).

It will last long enough to bring BTC price to ?

I say they are looking to get BTC to drop to 25K or 24k

I don't think they ( meaning the scammers) are looking for a certain price of bitcoin.
They're focused on their scam pepes and other shitcoins and bitcoin is just a means to an end to them. It's a road they're traveling on to bring fake money from home to a lambo dealership.

You could be right and if you are it will be over very soon.

Probably. But, fine by me. Today's cheap Bitcoin is a nice birthday present from the NFT/money-laundering crowd.

[Compromise me]

I say they are looking to get BTC to drop to 25K or 24k

You is saying that it is possible to move, but as far as they think it is a little difficult for Bitcoin to drop below 25k due to bank crises and the printing of dollars. Still if Bitcoin drops to 25k in the next 7 days there may be a significant drop in altcoins. For now it is difficult to say anything for sure so let's wait and see what happens.

I don't think they ( meaning the scammers) are looking for a certain price of bitcoin.
They're focused on their scam pepes and other shitcoins and bitcoin is just a means to an end to them. It's a road they're traveling on to bring fake money from home to a lambo dealership.

Due to the profits people have seen in meme coins they have become overconfident and are investing even more money to try and double their returns. The first shock came with the Binance listing where people bought at a high rate expecting to sell at a higher rate on Binance but it ended up being listed at a 20% lower price and did not rise. On top of that the recent drop in BTC prices has also had an impact, and now the value of the pepe coin has fallen by 100%.

[ChartBuddy]

Explanation

[Who is John Galt?]

You know you made it when current Bitcoin fees do not bother you because you are hodling. But it is hurts to see the ordinal scammers smearing Bitcoin's name with their Bullshit-Rort-Con 20 tokens.

Well, at least the miners are making decent profits off the idiots who actually fall for the BRC20 scam. Enjoy it while it lasts (Protip: it wont).

I don't think the miners are happy with the situation. No one in their right mind would bite the hand that feeds. A blow to the image of bitcoin will subsequently hit the miners. Fans of NFTs and other tokens will see that the network is overloaded and has become too expensive, and will go somewhere else (I really hope so). And miners need real bitcoin, just like the rest of us.

[Gachapin]

You know you made it when current Bitcoin fees do not bother you because you are hodling. But it is hurts to see the ordinal scammers smearing Bitcoin's name with their Bullshit-Rort-Con 20 tokens.

Well, at least the miners are making decent profits off the idiots who actually fall for the BRC20 scam. Enjoy it while it lasts (Protip: it wont).

I don't think the miners are happy with the situation. No one in their right mind would bite the hand that feeds. A blow to the image of bitcoin will subsequently hit the miners. Fans of NFTs and other tokens will see that the network is overloaded and has become too expensive, and will go somewhere else (I really hope so). And miners need real bitcoin, just like the rest of us.

one day there will be sidechains / second layers for all this stuff to run on Bitcoin, if we like it or not.  mEth and all these other projects will die.

Bitcoin will be the settlement layer for everything - even scams.  Fees will go into the thousands of USD.  One single onchain transaction will settle millions of offchain transactions.

these BRC20/ordinals are just the beginning of what's going to happen within the next decade(s).  We can already see them push exchanges like BChinance to implement Lightning.


only my2cts

[ChartBuddy]

Explanation

[OutOfMemory]

You know you made it when current Bitcoin fees do not bother you because you are hodling. But it is hurts to see the ordinal scammers smearing Bitcoin's name with their Bullshit-Rort-Con 20 tokens.

Well, at least the miners are making decent profits off the idiots who actually fall for the BRC20 scam. Enjoy it while it lasts (Protip: it wont).

I don't think the miners are happy with the situation. No one in their right mind would bite the hand that feeds. A blow to the image of bitcoin will subsequently hit the miners. Fans of NFTs and other tokens will see that the network is overloaded and has become too expensive, and will go somewhere else (I really hope so). And miners need real bitcoin, just like the rest of us.

one day there will be sidechains / second layers for all this stuff to run on Bitcoin, if we like it or not.  mEth and all these other projects will die.

Bitcoin will be the settlement layer for everything - even scams.  Fees will go into the thousands of USD.  One single onchain transaction will settle millions of offchain transactions.

these BRC20/ordinals are just the beginning of what's going to happen within the next decade(s).  We can already see them push exchanges like BChinance to implement Lightning.


only my2cts

For my part, i never even liked the idea of Ordinals. It's complete shit, with more than just doubtful use, imo.
Scalability is also one of the main challenges in Bitcoin's design, which should have been addressed first.
Sure, the road to success is bumpy sometimes, but i would really like to know Satoshis opinion on that shit.

[God Of Thunder]

Sharing a random video where I had some laughs 😅

https://www.facebook.com/reel/621967092707348

Moreover, this is the most important thing a man needs after Bitcoin!

Bitcoin to Fiat;
https://www.facebook.com/reel/1268682233725489

[Gachapin]

You know you made it when current Bitcoin fees do not bother you because you are hodling. But it is hurts to see the ordinal scammers smearing Bitcoin's name with their Bullshit-Rort-Con 20 tokens.

Well, at least the miners are making decent profits off the idiots who actually fall for the BRC20 scam. Enjoy it while it lasts (Protip: it wont).

I don't think the miners are happy with the situation. No one in their right mind would bite the hand that feeds. A blow to the image of bitcoin will subsequently hit the miners. Fans of NFTs and other tokens will see that the network is overloaded and has become too expensive, and will go somewhere else (I really hope so). And miners need real bitcoin, just like the rest of us.

one day there will be sidechains / second layers for all this stuff to run on Bitcoin, if we like it or not.  mEth and all these other projects will die.

Bitcoin will be the settlement layer for everything - even scams.  Fees will go into the thousands of USD.  One single onchain transaction will settle millions of offchain transactions.

these BRC20/ordinals are just the beginning of what's going to happen within the next decade(s).  We can already see them push exchanges like BChinance to implement Lightning.


only my2cts

For my part, i never even liked the idea of Ordinals. It's complete shit, with more than just doubtful use, imo.
Scalability is also one of the main challenges in Bitcoin's design, which should have been addressed first.
Sure, the road to success is bumpy sometimes, but i would really like to know Satoshis opinion on that shit.

it's up to the market to decide.  
Bitcoin is the most secure database humanity has invented, and the market participants will outbid each other for being able to use it.  

Right now only a bunch of freaks are using it. But wait until mainstream catches up. We have seen nothing yet... (compare it to the internet)

[OutOfMemory]

You know you made it when current Bitcoin fees do not bother you because you are hodling. But it is hurts to see the ordinal scammers smearing Bitcoin's name with their Bullshit-Rort-Con 20 tokens.

Well, at least the miners are making decent profits off the idiots who actually fall for the BRC20 scam. Enjoy it while it lasts (Protip: it wont).

I don't think the miners are happy with the situation. No one in their right mind would bite the hand that feeds. A blow to the image of bitcoin will subsequently hit the miners. Fans of NFTs and other tokens will see that the network is overloaded and has become too expensive, and will go somewhere else (I really hope so). And miners need real bitcoin, just like the rest of us.

one day there will be sidechains / second layers for all this stuff to run on Bitcoin, if we like it or not.  mEth and all these other projects will die.

Bitcoin will be the settlement layer for everything - even scams.  Fees will go into the thousands of USD.  One single onchain transaction will settle millions of offchain transactions.

these BRC20/ordinals are just the beginning of what's going to happen within the next decade(s).  We can already see them push exchanges like BChinance to implement Lightning.


only my2cts

For my part, i never even liked the idea of Ordinals. It's complete shit, with more than just doubtful use, imo.
Scalability is also one of the main challenges in Bitcoin's design, which should have been addressed first.
Sure, the road to success is bumpy sometimes, but i would really like to know Satoshis opinion on that shit.

it's up to the market to decide.  
Bitcoin is the most secure database humanity has invented, and the market participants will outbid each other for being able to use it.  

Right now only a bunch of freaks are using it. But wait until mainstream catches up. We have seen nothing yet... (compare it to the internet)

You know, i'm bullish on Bitcoin's future too, but ordinals (NFT)... i mean, c'mon 
It's up to the market to decide? The "market" is a mix of participants, like a society is a mix of individuals. Like noise is consisting of many sinus waves of different frequencies. You know the whitepaper. I think ordinals are way beyond scope of an electronic p2p cash system. Why should Bitcoin do things which other shitcoins already do? Don't get me wrong, i don't mean that everything shitcoins do is bad, but ordinals don't do much to advance BTC in its role as said electronic cash/asset.

[HI-TEC99]

...

For my part, i never even liked the idea of Ordinals. It's complete shit, with more than just doubtful use, imo.

...

... but ordinals (NFT)... i mean, c'mon  

...

[ChartBuddy]

Explanation

[fillippone]

Oh, shit, here we go again!

BITTREX INC FILES FOR CHAPTER 11 BANKRUPTCY IN DELAWARE

https://twitter.com/cryptounfolded/status/1655679019939921922

[HI-TEC99]

Oh, shit, here we go again!

BITTREX INC FILES FOR CHAPTER 11 BANKRUPTCY IN DELAWARE

https://twitter.com/cryptounfolded/status/1655679019939921922

Is this just the USA branch, or are the branches abroad also going bankrupt?

All I can find about it is this.

https://www.deb.uscourts.gov/recently-filed-chapter-1115s

A search for bittrex on that page brings up this.

Case Number   Chapter   Case                                           Date Filed   Judge
23-10598-BLS    11    Bittrex, Inc.                                   05/08/2023    Shannon
23-10599-BLS    11    Bittrex Malta Holdings Ltd.            05/08/2023    Shannon
23-10600-BLS    11    Bittrex Malta Ltd.                           05/08/2023    Shannon

[edit]

Bloomberg just published this story (behind a paywall).

https://www.bloomberg.com/news/articles/2023-05-08/crypto-platform-bittrex-files-chapter-11-bankruptcy-in-delaware

[Volgastallion]

Oh, shit, here we go again!

BITTREX INC FILES FOR CHAPTER 11 BANKRUPTCY IN DELAWARE

https://twitter.com/cryptounfolded/status/1655679019939921922

GOLD RULE IN FINANCIAL BUSINESS:

" YOU HAVE TO SELECT ONE MARKET TO OPERATE, THE WORLD OR USA " NEVER BOTH.

I know you are gonna think this its trash, but not, the USA justice and some elements of the USA goverment are really troublesome.

Look at Binance no problem in the whole world, they open on USA and the problems begun.

[bitcoinPsycho]

https://www.benzinga.com/pressreleases/23/05/b32277046/bittrex-inc-statement-on-chapter-11-bankruptcy


It's just the usa affected

[ChartBuddy]

Explanation

[aesma]

In other news I didn't win at the green card lottery.

So I won't have to worry about operating in the US !

[HI-TEC99]

https://www.benzinga.com/pressreleases/23/05/b32277046/bittrex-inc-statement-on-chapter-11-bankruptcy


It's just the usa affected

Cointelegraph just published this.

https://cointelegraph.com/news/crypto-platform-bittrex-files-for-chapter-11-bankruptcy-following-sec-charges

Cryptocurrency trading platform Bittrex has filed for Chapter 11 bankruptcy protection in the District of Delaware.

In a May 8 filing in the United States Bankruptcy Court for the District of Delaware, Bittrex estimated it had more than 100,000 creditors, between $500 million and $1 billion in assets, and between $500 million and $1 billion in liabilities as part of bankruptcy proceedings. The declaration followed the U.S. Securities and Exchange Commission charging the company and its co-founder and former CEO William Shihara for securities violations in April.

Cointelegraph reached out to Bittrex Global CEO Oliver Linch for comment but did not receive a response at the time of publication.