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

[empowering]

Would there actually be a market for a Bitcoin whale to travel to an economically stricken country with a trezor wallet packed with 100s+ BTC and sell them locally?

Anyone think this sort of thing happens? Serious question. Just musing on the idea.

Interesting idea.

Risky (as in risky to your short/long term health)

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[Fatman3001]

right ..... but that is a different discussion all together, there are logistics involved in moving large amounts of hot money no matter how you dice it. Though chances are if you have private jets worth of notes in cyprus stored in a luxury apartment, then you can probably do with not moving it for a month in the case capital controls are in place and all the banks shut and your usual friendly bank manager cannot help you out or you cannot deposit and transfer the cash to an exchange if going down the BTC route.

I was talking about how buying BTC is not an option for people that are already in a country that capital controls have been placed (and maybe expecting a haircut or a massive devaluation) as you would not be able to access those funds to buy BTC with.

If you've already lost access, then you're S.O.L., but you could use localbitcoins and pay a premium if you can pull your money out but not take it across the border.  An sd card is also less tempting for thieves and robbers (private sector or public) than a suitcase full of cash.

There was some back and forth in mid March and some restrictions were temporarily lifted for a while, but only a tiny fraction of the money deposited by wealthy russians made it into BTC. If it was a significant portion BTC would have gone way past the $1200 we saw later that year. There were quite a few dorment coins back then so the supply of coins would not have been able to trickle in fast enough.

[Fatman3001]

great plan!

btw thanks for an extra hundred bucks!

I thought you don't trade?

He doesn't. He does what the Bitfinex dude does. He buys when it goes down and sells when it goes up.

[JimboToronto]

An sd card is also less tempting for thieves and robbers (private sector or public) than a suitcase full of cash.

Make it a microSD card and if you land into trouble it can be quickly swallowed.

Providing you have a backup card stashed somewhere safe

Amen on the encrypted microSD cards. They've been my go-to for sensitive data backup and storage for years.

MicroSD cards are very easy to hide.

The higher capacity microSDXC cards are great for videos or other large volumes of a sensitive nature.

[empowering]

right ..... but that is a different discussion all together, there are logistics involved in moving large amounts of hot money no matter how you dice it. Though chances are if you have private jets worth of notes in cyprus stored in a luxury apartment, then you can probably do with not moving it for a month in the case capital controls are in place and all the banks shut and your usual friendly bank manager cannot help you out or you cannot deposit and transfer the cash to an exchange if going down the BTC route.

I was talking about how buying BTC is not an option for people that are already in a country that capital controls have been placed (and maybe expecting a haircut or a massive devaluation) as you would not be able to access those funds to buy BTC with.

If you've already lost access, then you're S.O.L., but you could use localbitcoins and pay a premium if you can pull your money out but not take it across the border.  An sd card is also less tempting for thieves and robbers (private sector or public) than a suitcase full of cash.

There was some back and forth in mid March and some restrictions were temporarily lifted for a while, but only a tiny fraction of the money deposited by wealthy russians made it into BTC, if it was a significant portion BTC would have gone way past the $1200 we saw later that year. There were quite a few dorment coins back then so the supply of coins would not have been able to trickle in fast enough.

I think most of the Russians, of the type you are referring to, most likely saw the haircut, threw a few vodka glasses around the place, boarded their helicopters, muttering about how they lost a few pennies, snorted some coke off of a hookers tit, before arriving home jumping out the bird, and returning home to their wives and children and scoffing caviar like it was going out of fashion.. before I dunno going out on a wild boar killing spree with vlad and vlad and vlad.  Basically a few of them would maybe have beaten a poor cypriot half to death to calm their nerves.

Part from that, they bent over and took it like the rest of the suckers that had cash in the bank they could not reach.

[inca]

great plan!

btw thanks for an extra hundred bucks!

I thought you don't trade?

He doesn't. He does what the Bitfinex dude does. He buys when it goes down and sells when it goes up.

What you describe is trading..

Explains his overly emotional posts when the price surged up to 268.

[billyjoeallen]

Would there actually be a market for a Bitcoin whale to travel to an economically stricken country with a trezor wallet packed with 100s+ BTC and sell them locally?

Anyone think this sort of thing happens? Serious question. Just musing on the idea.

Interesting idea.

Risky (as in risky to your short/long term health)

You couldn't just parachute in and set up shop. There's all sorts of local knowledge that would be necessary to operate. It would take a certain type of person to be successful at that trade, but I'm sure it's possible.

[empowering]

Would there actually be a market for a Bitcoin whale to travel to an economically stricken country with a trezor wallet packed with 100s+ BTC and sell them locally?

Anyone think this sort of thing happens? Serious question. Just musing on the idea.

Interesting idea.

Risky (as in risky to your short/long term health)

You couldn't just parachute in and set up shop. There's all sorts of local knowledge that would be necessary to operate. It would take a certain type of person to be successful at that trade, but I'm sure it's possible.

I know a guy who knows a guy who knows a guy.

[podyx]

There was somebody on tradingview who predicted an eve and adam bottom around $150 respectively $210.

With the healthy 3D MACD going and no panic despite a shooting star, maybe he'll be right I think things are looking bearish in the longer term though but honeybadger does as he like

[Fatman3001]

great plan!

btw thanks for an extra hundred bucks!

I thought you don't trade?

He doesn't. He does what the Bitfinex dude does. He buys when it goes down and sells when it goes up.

What you describe is trading..

Explains his overly emotional posts when the price surged up to 268.

I know. That's what they said about the Bitfinex guy as well... it was an attempt at a joke.

[Bernard Lerring]

Does anyone expect a pre-weekend mini pump tomorrow, like what happened last Friday?

I've got a small amount of BTC I want to use to buy alts and don't want to exchange today if we get a little bit of action in the next 24 hours.

Chances of happening? Crystal ball?

[inca]

great plan!

btw thanks for an extra hundred bucks!

I thought you don't trade?

He doesn't. He does what the Bitfinex dude does. He buys when it goes down and sells when it goes up.

What you describe is trading..

Explains his overly emotional posts when the price surged up to 268.

I know. That's what they said about the Bitfinex guy as well... it was an attempt at a joke.

Ha. Very good.

Let's see if tarmi starts bleating if we jump another ten dollars. He clearly hasn't bought in yet

[mcplant]

i'm still a noob here but our current situation kind of looks like a buildup of buying pressure at the trend line. as if it's about to explode. maybe?

[Bernard Lerring]

i'm still a noob here but our current situation kind of looks like a buildup of buying pressure at the trend line. as if it's about to explode. maybe?

I'm far from being an expert but the buy/sell ratio on bitcoinity looks slightly bullish to me.

[tarmi]

great plan!

btw thanks for an extra hundred bucks!

I thought you don't trade?

no, I said I dont margin trade and use obscure exchanges like bitfinex.

and yes, I sold a bunch of bitcoins in 266 range.

[damiano]

i'm still a noob here but our current situation kind of looks like a buildup of buying pressure at the trend line. as if it's about to explode. maybe?

I'm far from being an expert but the buy/sell ratio on bitcoinity looks slightly bullish to me.

Walls constantly change throughout the day, so its difficult to judge by that.

[billyjoeallen]

Does anyone expect a pre-weekend mini pump tomorrow, like what happened last Friday?

I've got a small amount of BTC I want to use to buy alts and don't want to exchange today if we get a little bit of action in the next 24 hours.

Chances of happening? Crystal ball?

Well, I'm loaded pretty full long so I expect it to crash  Seriously, I think a retracement is likely before a substantial advance, but I don't know by how much, so I'm just gonna hold and add to my position if we do get a dip. There seems to be more upside potential than down, but this is Bitcoin and anything can happen.

[Bernard Lerring]

Yeah, I have a tendency to stare at the greater green slope and think "why isn't price going up?".

That's about the limit of my trading knowledge!  

[JimboToronto]

i'm still a noob here but our current situation kind of looks like a buildup of buying pressure at the trend line. as if it's about to explode. maybe?

You can't always go by the order book.

It takes minutes for bitcoins to be deposited to exchanges. Fiat deposits take days.

People with fiat on exchanges tend to place bids rather than just leaving it dormant in their accounts.

Those with coins will usually leave them in paper wallets until they're almost ready to trade.

[billyjoeallen]

great plan!

btw thanks for an extra hundred bucks!

I thought you don't trade?

no, I said I dont margin trade and use obscure exchanges like bitfinex.

and yes, I sold a bunch of bitcoins in 266 range.

Judging by your behavior, I'm guessing you didn't buy them all back yet. Makes me feel good to know you're down there for support and also that you'll miss the train if support isn't needed. Clearly you fail at hodling.