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

[d_eddie]

Partially related: how or how much is bitcoin banned in China? I've been offered bitcoin payments with outrageous fees, about 70% of the effective amount. The guy there says it's because of the ban.

It's not banned in the slightest. Centralised trading and merchant use certainly has been. Everyone's doing P2P or OTC happily enough as far as I know.

Where's this fee being applied?

It's a merchant. I can pay by bank transfer, which I imagine will be slow and expensive, or by Bitcoin, with a nice 70% surcharge. I feel like I'm being bullshitted with bitcoin, though.

[1714038316]

1714038316

[gentlemand]

It's a merchant. I can pay by bank transfer, which I imagine will be slow and expensive, or by Bitcoin, with a nice 70% surcharge. I feel like I'm being bullshitted with bitcoin, though.

I guess it's more hassle than it used to be, certainly not 70% more hassle though. If they're advertising a Bitcoin option presumably they have a P2P option set up to get rid of it.

The price on there is within 5% of the exchanges elsewhere - https://localbitcoins.com/country/CN

[jojo69]

I never touch alts because I don’t believe in them. And I can make bad decisions if I don’t believe in what I am trading.

I’ve got a stash of XRP, nowhere near as much as my bitcoin HODLINGS but would be nice to see it moon in the future.

no

it would not

[Colonel Panic]

Partially related: how or how much is bitcoin banned in China? I've been offered bitcoin payments with outrageous fees, about 70% of the effective amount. The guy there says it's because of the ban.

It's not banned in the slightest. Centralised trading and merchant use certainly has been. Everyone's doing P2P or OTC happily enough as far as I know.

Where's this fee being applied?

It's a merchant. I can pay by bank transfer, which I imagine will be slow and expensive, or by Bitcoin, with a nice 70% surcharge. I feel like I'm being bullshitted with bitcoin, though.

You are. I had a 5 digit merchant payment a couple of months ago. IIRC, the bank transfer option had a 1% charge (plus senders fees), the credit card option was 3%, and bitcoin was 1%. China's favourite tho of course is cash (no charge). You can get good rates on bricks of £10 equiv notes in the UK, depending on amount might be worth a cheap flight for a friend.

[bitserve]

I am thinking during and after the next rally people will start to use Bitcoin again as a form of payment for the following reasons:

1- It's not like it is going to do a 100x anymore, so the price will tend to stabilise (less extreme volatility) more than in the past.

2- Bitcoin will be better prepared for increased transaction volume, both onchain and, more importantly, offchain.

3- Also with the constant increase of Bitcoin ATMs worldwide it also makes sense to use them on the destination country instead of having to exchange bills beforehand. The fees in both cases can be similar. While that isn't the same as paying with Bitcoins directly it is still using it as a vehicle for payments.

[xhomerx10]

Sure!

https://bitcointalk.org/index.php?topic=178336.msg48703885#msg48703885

I was talking about that coin. I'm not interested in bottoms. I've got one of them myself somewhere.

 Me too and I'm dragging mine today... should get some Christmas shopping done but I do not want to go near the malls.
Anyone know an easy way to figure out the ID of a 5.5mm barrel plug?  I can't believe I've lived this long without calipers.

edit: Also, anyone know where I can buy Florida oranges for shipping to Canada with Bitcoin?

[jojo69]

Sure!

https://bitcointalk.org/index.php?topic=178336.msg48703885#msg48703885

I was talking about that coin. I'm not interested in bottoms. I've got one of them myself somewhere.

 Me too and I'm dragging mine today... should get some Christmas shopping done but I do not want to go near the malls.
Anyone know an easy way to figure out the ID of a 5.5mm barrel plug?  I can't believe I've lived this long without calipers.

edit: Also, anyone know where I can buy Florida oranges for shipping to Canada with Bitcoin?

try cramming some clay in it and then measuring the resulting cylinder with a rule

but yeah, calipers

[Spaceman_Spiff_Original]

I am thinking during and after the next rally people will start to use Bitcoin again as a form of payment for the following reasons:

3- Also with the constant increase of Bitcoin ATMs worldwide it also makes sense to use them on the destination country instead of having to exchange bills beforehand. The fees in both cases can be similar. While that isn't the same as paying with Bitcoins directly it is still using it as a vehicle for payments.

Being able to pay local merchants via LN when travelling would be even sweeter.  I thoroughly dislike the fees/spread associated with having to exchange 1 currency for another.

[yefi]

Yup, that's a great advice. Only reinvest what you plan to reinvest and keep out what you plan to keep out. In "practical sense" only what you take out for good should be counted as profit taken. Other than that is just "trading".

If I've any other advice, it's read about rekt lottery winners. In the same way that reading the stories of rekt traders teaches us how to trade, reading their stories teaches us how to manage wealth. It's stupid how many of them blew their winnings and ended up in the same dead-end jobs. How ironic would it be to withdraw a million plus dollars from bitcoin and to then still end up as a wage slave?

[xhomerx10]

Sure!

https://bitcointalk.org/index.php?topic=178336.msg48703885#msg48703885

I was talking about that coin. I'm not interested in bottoms. I've got one of them myself somewhere.

 Me too and I'm dragging mine today... should get some Christmas shopping done but I do not want to go near the malls.
Anyone know an easy way to figure out the ID of a 5.5mm barrel plug?  I can't believe I've lived this long without calipers.

edit: Also, anyone know where I can buy Florida oranges for shipping to Canada with Bitcoin?

try cramming some clay in it and then measuring the resulting cylinder with a rule

but yeah, calipers

 Thanks for the tip.  I've been sticking all manner of things in the hole and I've found that one of those little red plastic extenders for canned air fits perfectly but I can't properly eyeball 2.1/2.5mm when I place it against a mm ruler ;(

[VB1001]

I comment this nice anecdote that has led me to know a little more about the history of Bitcointalk.
 
This morning Elwar asked: https://bitcointalk.org/index.php?topic=178336.msg48700083#msg48700083
Does anyone know when bitcointalk.org was created?
I did a whois and it shows 2011 but I remember being here in 2010.

Answer of gentlemand:> https://bitcointalk.org/index.php?topic=5.msg28#msg28

I ask gentleman: https://bitcointalk.org/index.php?topic=178336.msg48700768#msg48700768
This is the first bitcointalk thread?

I will be busy, and have continued looking for information on the topic nº1.

November 22, 2009 https://bitcointalk.org/index.php?topic=5.0 we see satoshi announcing the new forum of Bitcointak.org (previously published in a subforum of sourceforge bitcoin.sourceforge net/boards/index.php) a few pages later I found the answer:

The Satoshi topic announcing Bitcointalk is the topic nº5
The nº1, nº2, and n4º, test threads, and configuration type stuff, nº3 was permanently deleted.

November 17, 2009 Topic nº1 https://bitcointalk.org/first_topics/1.pdf
November 18, 2009 Topic nº2 https://bitcointalk.org/first_topics/2.pdf
November     , 2009 Topic nº3 was permanently deleted at some point (it must have contained Satoshi's real name and address)
November 20, 2009 Topic nº4 https://bitcointalk.org/first_topics/4.pdf
November 22, 2009 Topic nº5 https://bitcointalk.org/index.php?topic=5.0

Thanks to WO, Elwar and gentleman I know a bit more the story of Bitcointalk and Bitcoin.

[bitserve]

Yup, that's a great advice. Only reinvest what you plan to reinvest and keep out what you plan to keep out. In "practical sense" only what you take out for good should be counted as profit taken. Other than that is just "trading".

If I've any other advice, it's read about rekt lottery winners. In the same way that reading the stories of rekt traders teaches us how to trade, reading their stories teaches us how to manage wealth. It's stupid how many of them blew their winnings and ended up in the same dead-end jobs. How ironic would it be to withdraw a million plus dollars from bitcoin and to then still end up as a wage slave?

Yup. I personally know one that cases. Some start a spending spree like there were no tomorrow until they discover they are bankrupt, but there are also some others that don't and still, them not being used to MANAGE MONEY because neither their family nor them were ever wealthy, end up trusting some crook "financial manager" with the same result.

It's sad. As I said, personally knowing about this, I came to the conclusion that the entities giving the big prize should also provide some guidance and consultancy for them (optional of course). They don't.

That being said, I would tend to think that the next Bitcoin millionaires are at least miles more prepared to manage their wealth than the average lotto winner.

P.S.: On second though, between the new crypto millionaires there are also a lot of reckless huge margin traders that just got lucky in a couple calls or riding the trend at 100x. Those will probably keep doing that until they get rekt.

[Majormax]

Yep
Btw, I should probably ask, what is a crypto winter? I assumed it was just another term for bear market, but idk, and you’re a legendary member, so maybe you’d know?  

I'd say it's the wasteland following a bear market where price doesn't budge for what feels like forever. Look to the seemingly eternal $200-250 phase after the low was in in January 2015. It probably wasn't all that long in retrospect.

It seems to be when many projects and hopes die. The beary bit is still filled with delusion.

Yes. Then we are entering the winter now.

Most of the price falls are behind us, but this is the hardest bit. Months of slow declines and failing projects. Slow attrition.

Afterwards, spring is also slow in developing.

[Raja_MBZ]

Guys... what the hell is this?

Chinese 24 year old Bitcoin Millionaire Wong Ching Kit Gives Onlookers an Early Taste of Christmas

https://www.asiacryptotoday.com/chinese-24-year-old-bitcoin-millionaire-gives-onlookers-an-early-taste-of-christmas/

Video: https://twitter.com/_blockandchain_/status/1074115158350323717

[toknormal]

Yep
Btw, I should probably ask, what is a crypto winter? I assumed it was just another term for bear market, but idk, and you’re a legendary member, so maybe you’d know?  

I'd say it's the wasteland following a bear market where price doesn't budge for what feels like forever. Look to the seemingly eternal $200-250 phase after the low was in in January 2015. It probably wasn't all that long in retrospect.

It lasted about a year. (2 years if you include the bear market year itself. Then a third year to get back to anywhere near previous ATH).

Meanwhile, altcoins is your boy. (Because dominance has to go right down to get the "buttressing" to propel BTC back up).

[Last of the V8s]

Guys... what the hell is this?

Chinese 24 year old Bitcoin Millionaire Wong Ching Kit Gives Onlookers an Early Taste of Christmas

https://www.asiacryptotoday.com/chinese-24-year-old-bitcoin-millionaire-gives-onlookers-an-early-taste-of-christmas/

Video: https://twitter.com/_blockandchain_/status/1074115158350323717

I saw this, and someone saying, meh just a scammer (as in the article), but i've nfa.
maybe ico scammer or sth.

or maybe d_eddie's 'merchant'

[Hueristic]

By the way, we're having a terrific NY party, and we offer nice welcome perks: open bar for ATH's!
Just in case you're considering...

He is definitely not coming. Couldn't make it. He has sent us some Xmas gifts though:


https://i.imgur.com/nhlvtqW.png <- Warning: NSFW

[mod note: removed embed of NSFW image]

I want this under my tree Santa!

[VB1001]

bitserve

You have a lot of funds to test the graph that you upload.

[Last of the V8s]

I want this under my tree Santa!

fi-ive ha-a-lvings
four green candles
three goofy girls
two big barts
and a do-oji in the weekly

[empowering]

Guys... what the hell is this?

Chinese 24 year old Bitcoin Millionaire Wong Ching Kit Gives Onlookers an Early Taste of Christmas

https://www.asiacryptotoday.com/chinese-24-year-old-bitcoin-millionaire-gives-onlookers-an-early-taste-of-christmas/

Video: https://twitter.com/_blockandchain_/status/1074115158350323717

Just an airdrop