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

[kodtycoon]

this is guna get quite interesting. the buying is obviously a direct result of china, but why? devaluation of the yuan right? right. thing is it was devalued as a direct result of, and retaliation to the US' 450% inport tax on certain metals.

ELI5 how debasing yuan counters the anti-dumping tax?

it strengthens US dollar = shit for stocks + makes exports more expensive imports cheaper. if exports are more expensive it means less foreign currency flowing in and more flowing out. singapore is an interesting exception to the rule, being the only island city state in the world: tiny with little capacity to produce physical goods, they have to import a shit lot and cant export much so a strong currency actually suits them quiet well cos it makes imports cheap and exports expensive. its vice versa to the US and china. it makes labor more expensive in the US too, basically exporting jobs to, guess where, china, where it just got cheaper to produce goods.

edit: it doesnt so much counter the tax,, its more like a big "fuck you i can play dirty too" "best change your tone or shits guna go south for you quick"

[1714690512]

1714690512

[finkelsteinMonster]

I deny being a Jew.
I deny being an r/buttcoin infiltrator, saboteur, destroyer of bitcoin space
I deny being a pathetic beta

https://img.buzzfeed.com/buzzfeed-static/static/2014-12/8/20/campaign_images/webdr09/34-elf-quotes-that-never-get-old-2-31813-1418088432-4_dblbig.jpg

[matt4054]

We're going to see $600 in June for sure. Good news

[Fatman3001]

[yefi]

I remember, but it was at 260$, and made me panic sell. Bought back after it was eaten.

You're right, it was around the previous ath. Was a great show, anyway.

[Assmaster2000]

The West is selling ... their bitcoins because there is nothing left for sale and they need to eat something. The only thing West still produces is Western values.

And food. The west produces food. In abundance. The rest of the world needs to eat something.

How did they feed themselves before globalization?

Not well?

Well enough to survive to the present day and be a pest.

Not sure I understand. Should we stop selling food to the pests? But they make us our iPhones for next to nothing?

[jbreher]

The West is selling ... their bitcoins because there is nothing left for sale and they need to eat something. The only thing West still produces is Western values.

And food. The west produces food. In abundance. The rest of the world needs to eat something.

Educate yourself, Westerner. https://en.wikipedia.org/wiki/Inedia

I'll read it when I need a laugh. I scanned as far as 'Roscrucians', and could go no farther.

[julian071]

Happening. Gentlemen. Bunker. FOMO. CCMF. Confirmed.

[bodogb]

Happening. Gentlemen. Bunker. FOMO. CCMF. Confirmed.

And not a single train or rocket in sight. WTF?

[Assmaster2000]

ELI5 how debasing yuan counters the anti-dumping tax?

it strengthens US dollar = shit for stocks + makes exports more expensive imports cheaper. if exports are more expensive it means less foreign currency flowing in and more flowing out. singapore is an interesting exception to the rule, being the only island city state in the world: tiny with little capacity to produce physical goods, they have to import a shit lot and cant export much so a strong currency actually suits them quiet well cos it makes imports cheap and exports expensive. its vice versa to the US and china. it makes labor more expensive in the US too, basically exporting jobs to, guess where, china, where it just got cheaper to produce goods.

edit: it doesnt so much counter the tax,, its more like a big "fuck you i can play dirty too" "best change your tone or shits guna go south for you quick"

I'm not following. Ignoring your Singapore tangent, how is devaluing the yuan "make labor more expensive in the US"?
And you do know that US minimal wage is far better than Chinese average wage, so which jobs would they be stealing that they ain't already got?
Not seeing much of a "fuck you" there, to be honest.

[mymenace]

                                                   ,:
                                                 ,' |
                                                /   :
                                             --'   /
                                             \/ />/
                                             / /_\
                                          __/   /
                                          )'-. /
                                          ./  :\
                                           /.' '
                                         '/'
                                         +
                                        '
                                      `.
                                  .-"-
                                 (    |
                              . .-'  '.
                             ( (.   )8:
                         .'    / (_  )
                          _. .   )8P  `
                      .  (  `-' (  `.   .
                       .  :  (   .a8a)
                      /_`( "a `a. )"'
                  (  (/  .  ' )=='
                 (   (    )  .8"   +
                   (`'8a.( _(   (
                ..-. `8P    ) `  )  +
              -'   (      -ab:  )
            '    _  `    (8P"Ya
          _(    (    )b  -`.  ) +
         (  ( _.aP" _a   \( \   *
       +  )/    (8P   (88    )  )
          (a:f   "     `"      


         /\
        |=|
        |  |
        |  |
        |  |
       /___\
       |    |
       | BTC |
       |    |
       |    |
      /| | |\
     / | | | \
    /_|_|_|_\
       /_\/_\
       ####
      #####
        ###
          #



    

[glendall]

These are the magic days in trading you always look back fondly on (if you don't get hosed).

Yeehaw bitcoin!

[insert funny meme here]

Captain hindsight:  so it looks like what happened was DAO , with their dumb multi-tier ICO eth to dao ratio caused everyone to dump DAO when it first went up, causing huge downward pressure on ETH, so everyone wanted to get out of ETH and into BTC.

Thanks DAO!

[Wolf Rainer]

China touched $600 (OkCoin and Huobi).

[AZwarel]

This is insane!

[Assmaster2000]

The West is selling ... their bitcoins because there is nothing left for sale and they need to eat something. The only thing West still produces is Western values.

And food. The west produces food. In abundance. The rest of the world needs to eat something.

Educate yourself, Westerner. https://en.wikipedia.org/wiki/Inedia

I'll read it when I need a laugh. I scanned as far as 'Roscrucians', and could go no farther.

Yeah, you're just not open to shifting paradigms and thinking disruptively. The Truths of the Order of the Rosy Cross are more powerful than bioth your beetcoin and BBQcoin put together.

[Ibian]

The West is selling ... their bitcoins because there is nothing left for sale and they need to eat something. The only thing West still produces is Western values.

And food. The west produces food. In abundance. The rest of the world needs to eat something.

Educate yourself, Westerner. https://en.wikipedia.org/wiki/Inedia

I'll read it when I need a laugh. I scanned as far as 'Roscrucians', and could go no farther.

Yeah, you're just not open to shifting paradigms and thinking disruptively. The Truths of the Order of the Rosy Cross are more powerful than bioth your beetcoin and BBQcoin put together.

It makes perfect sense that you can survive on sunlight and no water!

[becoin]

This is insane!

Why? This is just the beginning.

[Ibian]

This is insane!

Why? This is just the beginning.

Tell me more becoin-dono.

[Fakhoury]

As far as I'm happy, but I'm afraid from a big correction !!

[Wolf Rainer]

As far as I'm happy, but I'm afraid from a big correction !!

Huge red dildo incoming.