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

[AlcoHoDL]

What was the bet?

https://bitcoinist.com/argentina-president-bitcoin-price-tim-draper/

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[AlcoHoDL]

Lloyd’s completely shut my account down and wouldn’t give me an explanation even though it was obviously bitcoin related as I was cashing out at the time.

Santander are friendlier but I would definitely recommend getting a personal banker to explain what you are doing to. This will stop issues and questions later.

I've put £10 through Lloyds to Coinbase. Those bitches didn't make a squeak.

From plenty of reading I get the impression Nationwide are the mellowest but their intermediary bank won't let them send or receive with any EU exchange.

I think from a bank to an exchange there's usually no problem. At least I've never had an issue using banks in two different countries.

It's the other way around that can sting you. Going from an exchange to a bank...

[fillippone]

CFTC Approves LedgerX to settle futures in real Bitcoin.

https://www.coindesk.com/cftc-approves-ledgerx-to-settle-futures-in-real-bitcoin?utm_source=twitter&utm_medium=coindesk&utm_term=&utm_content=&utm_campaign=Organic%20

This is a great news.
Main difference with BAKKT is tha being BAKTT part of ICE, BAKKT's  Bitcoin futures can seamlessly integrate in the already active workflow (trading/post trading) every bank in the world has already setup with ICE, while with LedgerX in the vast majority of cases it's a totally new one requiring a certain effort to onboard on the new exchange and setup all the regulatory/technological stuff.

[Globb0]

No left turn but still the highway board says monero.

made you something nice, but its my duty to slip that in somewhere. Both roads going in the same direction. U turn for shitcoins.

[bitcoinPsycho]

Just been reading, apparently Royal Bank of Scotland & their many sister banks have a good relationship with Coinbase & don’t close/freeze your account if you withdraw, even large sums.

I like the idea of multiple LBC sales though, myself.

Seems dumb to be talking about this now but we all need to be prepared. Should really ask somebody like Vod, OgNasty or Elwar who I think have already cashed out millions.

Don’t think I’ve ever seen a thread here discussing cashing out plans, techniques, strategies. I would start one but it’ll be filled with nocoiner noobs, one liner posting, broken English & sig spam.

.when I take fiat out of coinbase it takes about 10 minutes to appear in my rbs account .

[Searing]

Tales from the Crypt

Last couple years, instead of cash, my wife has been gifting BTC for friends and family kids’ birthdays. Small amounts labeled as “college fund”. Every once in a while, she pings the parents: how’s that college fund doing? Some of the returns are approaching 2-3x. Still, few if any of the parents are buying on their own.

Got an Ozzie mate I tried and tried again to convince investing in BTC well before the 2017 run up. He finally caught the fever near the ATH. Fearing he was too late for BTC, he started buying XRP and a host of other shitcoins. Had to have a serious sit down. Might have involved some bitch-slapping. He managed to DCA himself into BTC over the past couple years and calls me up this week: “I’m back in the black!! Wish I bought more at the start of the year!” I suspect we've got a hodler for life.

Know a Chinese gal recently married to a Yankee expat who caught shitcoin fever like only the Chinese can. Unbeknownst to her hubbie, she started dumping massive amounts of her yuan savings into the 2017 hype. When she was down 20% last year, my wife and I spent hours trying to convince her to cut her shitcoin losses. She had no exit plan and remained convinced they would all bounce back. She’s since lost enough she confided in my wife she has been contemplating suicide. Intervention time.

Know a recently retired couple in their 60s, an old boss actually, who came to town in Feb to visit their newlywed daughter. I’ve never spoken a word to them about Bitcoin. One morning they point blank ask, do I own any Bitcoin? Is now a good time to buy? Why yes, now is the perfect time to buy. They’d be sitting on 2-3x returns if they actually pulled the trigger back then. I’m thinking they didn’t though and probably mistakenly think they’ve already missed the boat. Time will tell.

It’s a fine line advocating at the same time impressing upon others the importance of dyor, dca, hodl, don’t overextend, think years not weeks/months. For every success story lurks a potential tragedy, and that’s an albatross no one wants hanging around their neck.

Fun to pat ourselves on the back but let's not kid ourselves - watching walls get cut like a knife all the way down to $3k's was not exciting or fun.  Most bitcoiners likely had been dollar cost averaging for a year in around the $6-8k range thinking 6k was the floor and then *poof* it dropped to $3.5k.  Immediately after that, there was no reason to suspect we had hit rock bottom.  Honestly, I think it would've been insane to have been strongly suggesting that normies be putting their life savings in, even at $3.5k.  Price could've realistically fallen more (not to $0, but to $2k?  Sure!) & then they'd be calling you crying about little Jimmy's college savings being down 50%.

I'm just saying, it's easy to feel great when everything is 3x up from the bottom.  We have been greatly rewarded for taking our great risks & I don't think we should encourage the uneducated normies to take the same risks we do.  DCA is always the only way I encourage people to get in.

True that, but the bottom for some of us was $152 or even lower. $3k or even $1k? Pfft. Think years, halving cycles even, not months. Don't trade. Don't get caught up in the exuberance of short-lived ATHs as much as possible and keep your eyes on the solid floors. DCA, of course, is your friend.

Bitcoin has only closed above $10k 80 days or so. As long as you bought sometime in the last 10 years minus those 80 days, you are in the green. The asymmetry of this bet is rididulous and has been for much of Bitcoin's existence.

Life savings? No, the most I'd ever suggest is 5% of retirement savings.

I have had modest sucess with getting people into BTC by selling crap on eBay, as a motivation. Many say they would do so, but not enough motivation. Some have done so. I don't follow

my own advice. I started to sell stuff in my attic like 3 months ago. Dumped about $900 from eBay into BTC. Got lazy and stopped, should have kept going. I have about 5K worth of old

computer stuff, none of it worth more than $25, none of it worth less, (2 computer store defaults, getting me stuff from cleanout and a pawn shop buddy back in the day). Hell. So

I kinda understand. But they ALWAYS ask about mining BTC etc. I tell them to 'attic mine' the junk in their attic they likely will die with for Bitcoin. But mixed results, even with myself.

It is JUST so boring/cubicle work/etc. But anyway, as to just buying BTC with their hard earned income without mental justifications, like selling stuff they never will use, I'm batting about

zero for conversion to HODL'ers. Again, I'm as bad an example as everyone else. Just thought it was interesting, at least they 'kinda' get the sell stuff for BTC to limit risk that they are

idiots if this 'evil' BTC goes tulips. But only modest angle I have.

[gentlemand]

I think from a bank to an exchange there's usually no problem. At least I've never had an issue using banks in two different countries.

It's the other way around that can sting you. Going from an exchange to a bank...

https://bitcoinist.com/coinbase-announce-they-will-no-longer-accept-deposits-from-nationwide-bank/

Unless something's changed when it comes to Nationwide you're toast if you're trying to SEPA to or from somewhere crypto related. It's not Nationwide, it's Commerzbank.

[serveria.com]

Just been reading, apparently Royal Bank of Scotland & their many sister banks have a good relationship with Coinbase & don’t close/freeze your account if you withdraw, even large sums.

I like the idea of multiple LBC sales though, myself.

Seems dumb to be talking about this now but we all need to be prepared. Should really ask somebody like Vod, OgNasty or Elwar who I think have already cashed out millions.

Don’t think I’ve ever seen a thread here discussing cashing out plans, techniques, strategies. I would start one but it’ll be filled with nocoiner noobs, one liner posting, broken English & sig spam.

.when I take fiat out of coinbase it takes about 10 minutes to appear in my rbs account .

Wow that's quite impressive! 10 minutes crypto to fiat is almost real-time for the crypto world

[jojo69]

holy dominance batman

[HI-TEC99]

Just been reading, apparently Royal Bank of Scotland & their many sister banks have a good relationship with Coinbase & don’t close/freeze your account if you withdraw, even large sums.

I like the idea of multiple LBC sales though, myself.

Seems dumb to be talking about this now but we all need to be prepared. Should really ask somebody like Vod, OgNasty or Elwar who I think have already cashed out millions.

Don’t think I’ve ever seen a thread here discussing cashing out plans, techniques, strategies. I would start one but it’ll be filled with nocoiner noobs, one liner posting, broken English & sig spam.

.when I take fiat out of coinbase it takes about 10 minutes to appear in my rbs account .

Are you withdrawing large amounts or small amounts? LFC_Bitcoin is probably talking about withdrawing hundreds of thousands of dollars?

[Hueristic]

Don’t think I’ve ever seen a thread here discussing cashing out plans, techniques, strategies. I would start one but it’ll be filled with nocoiner noobs, one liner posting, broken English & sig spam.

This might be worth looking at. Although you'll have to read the whole thread because the OP han't been updated for a while.

List of Bitcoin Hostile (and friendly) Banks

Barclays stopped my trade with Bittylicious because "suspicious it may not be you" strange because I used their own little encrypted calculator thing so they really knew full well it was me.

Had my account locked a few days, I said I'm buying something from the internet? do you want to tell me anything like a good reason? bad seller? what? nothing. They just didn't want to let me.

Interesting how they get to decide if you are allowed to spend your money.

Yeah, I just left one Credit Union that I've been with for 20 years because they were acquired and now they have been acting like my money is their money and have the audacity to ask me what I'm going to use it on if I take a large amount. They also have been taking on "courtesy fees" without permission. I've also been getting offers continually form 3 or 4 major banks offering me 200-500 to open an account.

Is it too much to ask to just have an asshole at the safe guarding it and give me my money when I want?

[bitcoinPsycho]

Just been reading, apparently Royal Bank of Scotland & their many sister banks have a good relationship with Coinbase & don’t close/freeze your account if you withdraw, even large sums.

I like the idea of multiple LBC sales though, myself.

Seems dumb to be talking about this now but we all need to be prepared. Should really ask somebody like Vod, OgNasty or Elwar who I think have already cashed out millions.

Don’t think I’ve ever seen a thread here discussing cashing out plans, techniques, strategies. I would start one but it’ll be filled with nocoiner noobs, one liner posting, broken English & sig spam.

.when I take fiat out of coinbase it takes about 10 minutes to appear in my rbs account .

Are you withdrawing large amounts or small amounts? LFC_Bitcoin is probably talking about withdrawing hundreds of thousands of dollars?

Always  under £1000

[yefi]

This might be worth looking at. Although you'll have to read the whole thread because the OP hasn't been updated for a while.

List of Bitcoin Hostile (and friendly) Banks

Barclays has a partnership with Coinbase, so there shouldn't be a problem cashing out with them via this route.

Interesting how they get to decide if you are allowed to spend your money.

This is pretty much the norm in the UK. Experienced it/seen it with Lloyds, Santander and Halifax.

[serveria.com]

Let's see if it's only a dip or a bigger correction. Much needed imho.

I would say that it's not only much needed, but somewhat overdue...

Beartrolls detected 

I would be very happy if it goes to $20k uninterrupted, but I think it's a bit... unrealistic

Thanks for sharing this wonderful insight but why is it? Do you have some insider info or fortune-telling skills?  

[Hueristic]

You think having a botnet of real Bots is a bad idea?

Quite. But also very hard to see how the economic and business models will ever stack up.  

They are looking to recoup maintenance cost but I don't think they will unless something drastically changes. If they break even then they will be happy.

But its added decentralized security for the network and LEA supporting Crypto so it's a Win Win in my book.

How could they break even when they are competing against ASICs in data centers?

Asics can't mine Monero, and and turns out the Almighty Fpga Hybrids can't compete either. But with upcoming RandomX I'm not sure how their GPU based systems will compete. Only time will tell.

[HI-TEC99]

Interesting how they get to decide if you are allowed to spend your money.

This is pretty much the norm in the UK. Experienced it/seen it with Lloyds, Santander and Halifax.

Did any of those three close your account for spending your money without their permission?

[gentlemand]

Did any of those three close your account for spending your money without their permission?

It's not your money. It's the credit note they've given you.

[VanguardVale]

Resistance from $11,500 through $12,000, with key areas around $11,700 offer the final nail in the coffin for the bear market. With so little resistance above this area, Bitcoin should - as one-half to $15,000 soon.

[serveria.com]

Just been reading, apparently Royal Bank of Scotland & their many sister banks have a good relationship with Coinbase & don’t close/freeze your account if you withdraw, even large sums.

I like the idea of multiple LBC sales though, myself.

Seems dumb to be talking about this now but we all need to be prepared. Should really ask somebody like Vod, OgNasty or Elwar who I think have already cashed out millions.

Don’t think I’ve ever seen a thread here discussing cashing out plans, techniques, strategies. I would start one but it’ll be filled with nocoiner noobs, one liner posting, broken English & sig spam.

.when I take fiat out of coinbase it takes about 10 minutes to appear in my rbs account .

Are you withdrawing large amounts or small amounts? LFC_Bitcoin is probably talking about withdrawing hundreds of thousands of dollars?

Always  under £1000

Then it doesn't count. We're talking about 5+ digit numbers here...  

[HI-TEC99]

Did any of those three close your account for spending your money without their permission?

It's not your money. It's the credit note they've given you.

But which of them are the biggest bastards when cashing out?