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

[Who is John Galt?]

KuCoin is going full KYC starting july 15.

Over time, all centralized exchanges will do this. The future is with DEX. KYC is incompatible with bitcoin in its concept. Privacy and anonymity, I do not intend to go through the KYC procedure on any exchanges.

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[Out of mind]

https://twitter.com/CryptoCon_/status/1674071466784980993?t=Tt5UXApl64WwcSJ3OynT2A&s=19

[OgNasty]

KuCoin is going full KYC starting july 15.

Over time, all centralized exchanges will do this. The future is with DEX. KYC is incompatible with bitcoin in its concept. Privacy and anonymity, I do not intend to go through the KYC procedure on any exchanges.

Slowly but surely the SEC is threatening or shutting down exchanges and services that don’t comply with their policies. This is going to bring an end to a lot of cool projects, but it will also level the playing field for those looking to start legitimate businesses. Personally I liked Bitcoin more before the regulation when cool services were everywhere, but this seems a necessary development in order for Bitcoin to thrive.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Who is John Galt?]

KuCoin is going full KYC starting july 15.

Over time, all centralized exchanges will do this. The future is with DEX. KYC is incompatible with bitcoin in its concept. Privacy and anonymity, I do not intend to go through the KYC procedure on any exchanges.

Slowly but surely the SEC is threatening or shutting down exchanges and services that don’t comply with their policies. This is going to bring an end to a lot of cool projects, but it will also level the playing field for those looking to start legitimate businesses. Personally I liked Bitcoin more before the regulation when cool services were everywhere, but this seems a necessary development in order for Bitcoin to thrive.

And what is the fundamental difference between a project clamped by KYC procedures and a fiat system? First you stop being anonymous, then you stop being able to use the "wrong" bitcoins, then you lose the right to use real bitcoins on the bitcoin blockchain and can only manage ersatz bitcoins in the accounts of a centralized intermediary.

The value of bitcoin lies in its decentralization. I do not need a similar centralized project; instead of a similar centralized project, I can use dollars.

[bct_ail]

KuCoin is going full KYC starting july 15.

Over time, all centralized exchanges will do this. The future is with DEX. KYC is incompatible with bitcoin in its concept. Privacy and anonymity, I do not intend to go through the KYC procedure on any exchanges.

Does a DEX offered Fiat deposit? Is there any? Do not know any. So what kind of future is that if average Joe cannot change fiat in BTC anonymous? It is becoming more and more difficult.

But it is not only KYC at KuCoin. They are also looking at the origin of your Bitcoins:

Pursuant to the requirements of the laws and regulations of applicable jurisdictions, KuCoin also collects additional information related to the customer’s business and risk profile. Risk profile data includes nature and volume of trading activity, origin of virtual funds deposited, Lyu added.

https://cointelegraph.com/news/kucoin-crypto-exchange-to-introduce-mandatory-kyc-in-july

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[FinePoine0]

KuCoin is going full KYC starting july 15.

Over time, all centralized exchanges will do this. The future is with DEX. KYC is incompatible with bitcoin in its concept. Privacy and anonymity, I do not intend to go through the KYC procedure on any exchanges.

Slowly but surely the SEC is threatening or shutting down exchanges and services that don’t comply with their policies. This is going to bring an end to a lot of cool projects, but it will also level the playing field for those looking to start legitimate businesses. Personally I liked Bitcoin more before the regulation when cool services were everywhere, but this seems a necessary development in order for Bitcoin to thrive.

And what is the fundamental difference between a project clamped by KYC procedures and a fiat system? First you stop being anonymous, then you stop being able to use the "wrong" bitcoins, then you lose the right to use real bitcoins on the bitcoin blockchain and can only manage ersatz bitcoins in the accounts of a centralized intermediary.

The value of bitcoin lies in its decentralization. I do not need a similar centralized project; instead of a similar centralized project, I can use dollars.

The exchange KYC procedure refers to the beneficial ownership clause. KYC system must be enabled by your KYC system to guard against anonymity when opening an account at an exchange.
 Making fiat money with bitcoin is 'wrong' because currently the bitcoin investment system is locked in itself.

BTC Hold on , Not Sell......

[goldkingcoiner]

KuCoin is going full KYC starting july 15.

Over time, all centralized exchanges will do this. The future is with DEX. KYC is incompatible with bitcoin in its concept. Privacy and anonymity, I do not intend to go through the KYC procedure on any exchanges.

Does a DEX offered Fiat deposit? Is there any? Do not know any. So what kind of future is that if average Joe cannot change fiat in BTC anonymous? It is becoming more and more difficult.

But it is not only KYC at KuCoin. They are also looking at the origin of your Bitcoins:

Pursuant to the requirements of the laws and regulations of applicable jurisdictions, KuCoin also collects additional information related to the customer’s business and risk profile. Risk profile data includes nature and volume of trading activity, origin of virtual funds deposited, Lyu added.

https://cointelegraph.com/news/kucoin-crypto-exchange-to-introduce-mandatory-kyc-in-july

DEX do not offer fiat deposits. If you want to trade on DEX, buy your coin at a decentralized P2P platform and then swap it to whichever token you feel comfortable with. Although keep in mind that USDT is not the same as USD just as wrapped Bitcoin is not actual Bitcoin (sames goes for any other pegged token). Sure, the prices are pegged but the blockchain is a different one and the pegged asset could be questionable in its security. I suspect the best thing for a Bitcoiner to do is buy and hodl actual, real BTC through a non-KYC, non-custodial and non-centralized method. So if you do that you will see no issue with centralized craptoexchanges being transformed into government-regulated platforms.

[Gachapin]

now that the Blackrock ETF news gets echoed in mainstream media, price begins to dump.... call me shocked   

[LFC_Bitcoin]

now that the Blackrock ETF news gets echoed in mainstream media, price begins to dump.... call me shocked   

Saylor also announced Microstrategy buying more, we always dump when that happens.

Be really bullish if we survive this retest of $30,000 and turn it into support. Would set us up nicely for the next leg up.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Torque]

If I have to describe in one sentence the price action in 2019 and 2020 it would be "The battle for 10K". I'm just curious which will be the new 10K for 2023 and 2024 - 30K, 40K or even 50K? My guess is 40K.

My guess is $29,900 will become the new $9,900.

It'll go sideways for what seems like forever, occasionally teasing > $30k only to get squashed down over again and again.  

^^^^^^^^^^^

Hot take: We are here, and my estimate is that we will remain in this range, barting up and down, throughout 2023 and possibly into 2024.

Don't see any reason on the horizon for that to change until closer to halving. There will be a number of 'head fakes' along the way.

The only thing that could really alter this range bound is if Fed rates dropped by at least 2% or more.

Oh lookie, we still here. Same price range, different day.

Get used to it guyz....

Well at least they are consistent.      

Fear not tho, we are in a long term accumulation phase...

[JayJuanGee]

If I have to describe in one sentence the price action in 2019 and 2020 it would be "The battle for 10K". I'm just curious which will be the new 10K for 2023 and 2024 - 30K, 40K or even 50K? My guess is 40K.

My guess is $29,900 will become the new $9,900.

It'll go sideways for what seems like forever, occasionally teasing > $30k only to get squashed down over again and again.  

^^^^^^^^^^^

Hot take: We are here, and my estimate is that we will remain in this range, barting up and down, throughout 2023 and possibly into 2024.

Don't see any reason on the horizon for that to change until closer to halving. There will be a number of 'head fakes' along the way.

The only thing that could really alter this range bound is if Fed rates dropped by at least 2% or more.

Oh lookie, we still here. Same price range, different day.

Get used to it guyz....

Well at least they are consistent.    

Fear not tho, we are in a long term accumulation phase...

You must really wuv ur lil selfie, Torque.  


 

You will keep citing how correct and wonderful you are, until all of a sudden you will go silent..

 

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Hamza2424]

Oh lookie, we still here. Same price range, different day.

Get used to it guyz....

Well at least they are consistent.    

Fear not tho, we are in a long term accumulation phase...

Days and prices are inconsistent but you said accumulators are heading up, So how long do you think DCA and accumulation really worth.
Because DCA can also wrong in some cases as i was reading thread in trading discussion i am not really sure because its 2 3 weeks back time, the whale accumulator faced a major loss by just adopting the wrong time for the DCA he kept on accumulating during the downfall and after loosing patient He sold most for the assets in a major loss.

Weak point was wrong buying and selling point but at least he kept on holding with the courage to accumulate for around 1 year with massive value.

[BobLawblaw]

Man... I don't think $30k is gunna hold...

[Gachapin]

now that the Blackrock ETF news gets echoed in mainstream media, price begins to dump.... call me shocked  

Saylor also announced Microstrategy buying more, we always dump when that happens.

Be really bullish if we survive this retest of $30,000 and turn it into support. Would set us up nicely for the next leg up.

oh... Saylor... how could I have overlooked that...  you are 100% right...

30k was the bottom in '21, it's essential to turn that into support again. But it could well take three months or more...

If I have to describe in one sentence the price action in 2019 and 2020 it would be "The battle for 10K". I'm just curious which will be the new 10K for 2023 and 2024 - 30K, 40K or even 50K? My guess is 40K.

My guess is $29,900 will become the new $9,900.

It'll go sideways for what seems like forever, occasionally teasing > $30k only to get squashed down over again and again.  

^^^^^^^^^^^

Hot take: We are here, and my estimate is that we will remain in this range, barting up and down, throughout 2023 and possibly into 2024.

Don't see any reason on the horizon for that to change until closer to halving. There will be a number of 'head fakes' along the way.

The only thing that could really alter this range bound is if Fed rates dropped by at least 2% or more.

Oh lookie, we still here. Same price range, different day.

Get used to it guyz....

Well at least they are consistent.    

Fear not tho, we are in a long term accumulation phase...

You must really wuv ur lil selfie, Torque.  


 

You will keep citing how correct and wonderful you are, until all of a sudden you will go silent..

 

... I know that flick

[JayJuanGee]

Oh lookie, we still here. Same price range, different day.

Get used to it guyz....

Well at least they are consistent.    

Fear not tho, we are in a long term accumulation phase...

Days and prices are inconsistent but you said accumulators are heading up, So how long do you think DCA and accumulation really worth.

Depends on when you start... if you are just starting, it could take a while... that's why "we" say, get started as soon as possible.

Because DCA can also wrong in some cases as i was reading thread in trading discussion

Yeah.. because they are retarded.

i am not really sure because its 2 3 weeks back time,

There goes memories..

fleeting into the wind.

the whale accumulator faced a major loss by just adopting the wrong time for the DCA he kept on accumulating during the downfall and after loosing patient He sold most for the assets in a major loss.

The thing is that whales (or people/institutions) with already good sized investments into other things (including cash) have options to fuck around with lump sum investing, but if you are a normie, you don't necessarily have lump sums available to you, so you gotta work with what uuu's gots.. not working with what someone else might gots.

Weak point was wrong buying and selling point but at least he kept on holding with the courage to accumulate for around 1 year with massive value.

Yeah, but who cares?  what's the punchline?  Are you going to sell BTC in order to try to buy back more?  unless you been into BTC for a while, selling to buy back more is not smart... and the better strategies have to do with ongoingly buying BTC in order to accumulate more BTC (aka stack more sats).. and start early and stay persistent until you gots ur lil selfie enuff cornz.

There's an apt expression that has to deal with time in the market is more important than timing the market.

Man... I don't think $30k is gunna hold...

Wat a wishfowl widdo fellar uie R. 

If you keep saying it, then maybe it will come true... #justsaying.