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

[HairyMaclairy]

It is possible that Hong Kong will be the spark that tips over the Chinese Communist Party. Especially if the protests spread to Taiwan and Macau.  

While that would be nice I fear it is wishful thinking in this case.

Low probability, yes.  But you can bet your bottom yuan that it is keeping the CCP leadership awake tonight. It makes them look weak, which is just not cricket if you are an authoritarian regime

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[jojo69]

Not that anyone here necessarily needs to read this article but you have friends and relatives that do, and it's a fun bullish as hell read...
https://www.forbes.com/sites/matthougan/2019/08/15/how-to-understand-bitcoin-if-youre-over-40/#733ecac647a5

The answering is to stop thinking about bitcoin as a currency and start thinking about it as a technology

smh...so Forbes doesn't have editors...

[jojo69]

If the journalists are told to leave Hong Kong....




The challenge for the CCP is everyone is a journalist nowadays...

That is an illusion.  There are a finite number of fiber optic trunklines and uplink radios out of the island.  Nobody does HF radio any more, so no, civilians have the illusion of being connected when all they are connected to is a centralized system.

[Lambie Slayer]

I feel like the Western media must have been influenced by China to somehow softly censor what happened, because I dont ever seen any mentions of actual deaths when American media talks about Tienanmen Square. Just  "human rights" or "tank man".

Not really: The satellite feeds were cut, the journalists taken out, and the army moved in at night. Next morning all was well.

They glibly gloss over the thousands of murdered students every single time.

If those students had been illegal immigrants I suppose we would have nuked China already.

It's tough to say how many people died that night. Leaders and others were rounded up over the next few months, it was a pretty complete suppression. However keep in mind that tens of millions died under the idiocy of the "Great Leaps", which should serve as a reminder of how bad it can be when insane people get into power.

Of course people forget.....

Thanks, Ill have to read up on some of the history you referenced earlier. Im not familiar at all with it but Ill check it out.

[HairyMaclairy]

If the journalists are told to leave Hong Kong....




The challenge for the CCP is everyone is a journalist nowadays...

That is an illusion.  There are a finite number of fiber optic trunklines and uplink radios out of the island.  Nobody does HF radio any more, so no, civilians have the illusion of being connected when all they are connected to is a centralized system.

Good point.  Just shut down the cell towers. 

[Biodom]

"I fight for the users"...

Anyway, were we over or under 10300 at that "magical" time frame?

[jojo69]

If the journalists are told to leave Hong Kong....




The challenge for the CCP is everyone is a journalist nowadays...

That is an illusion.  There are a finite number of fiber optic trunklines and uplink radios out of the island.  Nobody does HF radio any more, so no, civilians have the illusion of being connected when all they are connected to is a centralized system.

Good point.  Just shut down the cell towers. 

And it's not like you have to go around to each one.  There is a facility for each provider called the NOC; Network Operations Center.

The crackdown will not be televised.

[Biodom]

If the journalists are told to leave Hong Kong....




The challenge for the CCP is everyone is a journalist nowadays...

That is an illusion.  There are a finite number of fiber optic trunklines and uplink radios out of the island.  Nobody does HF radio any more, so no, civilians have the illusion of being connected when all they are connected to is a centralized system.

Good point.  Just shut down the cell towers.  

And it's not like you have to go around to each one.  There is a facility for each provider called the NOC; Network Operations Center.

The crackdown will not be televised.

I am throwing up in my mouth a little after reading all these theoretical suggestions on how to suppress dissent.

[degxtra1]

If we can hold this level around $10,300 for two more hours, we should get a nice relief rally tomorrow

it's confirmed, prepare for next rally

[cAPSLOCK]

If we can hold this level around $10,300 for two more hours, we should get a nice relief rally tomorrow

short or no wick on the green daily by then, i hope.
If the dip was caused by that chinese scam, i'd see no real arguments against continued uptrend.

The dip wasn’t caused by the Chinese scam.  It’s the other way around.

The charts were technically setting up for a nice dip.  A bunch of traders opened short positions.  Someone spun up a bullshit narrative to sell the story of the dip. Loomdart spread it around.  Every good crash need a good story.

We got a disappointingly small dip, which shows the strength of the market.  

The dip caused the FUD. Know the difference

Funny you mention loomdart. I unfollowed him with prejudice just earlier today. 

Nothing last forever.

[HairyMaclairy]

If we can hold this level around $10,300 for two more hours, we should get a nice relief rally tomorrow

short or no wick on the green daily by then, i hope.
If the dip was caused by that chinese scam, i'd see no real arguments against continued uptrend.

The dip wasn’t caused by the Chinese scam.  It’s the other way around.

The charts were technically setting up for a nice dip.  A bunch of traders opened short positions.  Someone spun up a bullshit narrative to sell the story of the dip. Loomdart spread it around.  Every good crash need a good story.

We got a disappointingly small dip, which shows the strength of the market.  

The dip caused the FUD. Know the difference

Funny you mention loomdart. I unfollowed him with prejudice just earlier today.  

Nothing last forever.

Here’s Loomdart’s supposed short entry at $10,486. Dated August 16 so he’s a bit late to the party. Shame that. Would hate for him to be stopped out at $10,630. 

[Bitcoinaire]

It's only a matter of time. Big time money is flowing in, under the radar!

Whether institutions were going to adopt crypto or not was an open question about 12 months ago. I think it's safe to say we now know the answer. We're seeing $200-400M a week in new crypto deposits come in from institutional customers.

https://twitter.com/brian_armstrong/status/1162185049699057664

[HairyMaclairy]

It's only a matter of time. Big time money is flowing in, under the radar!

Whether institutions were going to adopt crypto or not was an open question about 12 months ago. I think it's safe to say we now know the answer. We're seeing $200-400M a week in new crypto deposits come in from institutional customers.

https://twitter.com/brian_armstrong/status/1162185049699057664

I would love this to be true but Brian Armstrong is completely full of shit

[Bitcoinaire]

It's only a matter of time. Big time money is flowing in, under the radar!

Whether institutions were going to adopt crypto or not was an open question about 12 months ago. I think it's safe to say we now know the answer. We're seeing $200-400M a week in new crypto deposits come in from institutional customers.

https://twitter.com/brian_armstrong/status/1162185049699057664

I would love this to be true but Brian Armstrong is completely full of shit

As bad as novogratz?

[Icygreen]

Hopefully Armstrong was just late to the party delivering bullish news  and we've seen the bottom. J. Dimon took this one again it appears.
Ah, whatever.. Happy to see even lower prices if need be but I'm not sure I'll get the chance. Sold nothing, solid 100% HODL

[bkbirge]

I am throwing up in my mouth a little after reading all these theoretical suggestions on how to suppress dissent.

Our entire much-praised technological progress, and civilization generally, could be compared to an axe in the hand of a pathological criminal. - Albert Einstein

and even more chilling...
People will come to love their oppression, to adore the technologies that undo their capacities to think. - Aldous Huxley

[HairyMaclairy]

It's only a matter of time. Big time money is flowing in, under the radar!

Whether institutions were going to adopt crypto or not was an open question about 12 months ago. I think it's safe to say we now know the answer. We're seeing $200-400M a week in new crypto deposits come in from institutional customers.

https://twitter.com/brian_armstrong/status/1162185049699057664

I would love this to be true but Brian Armstrong is completely full of shit

As bad as novogratz?

There are 1800 Bitcoins mined per day.  1800 x 7 x 10,000 = US$126 million per week in supply.

That means for the Bitcoin price to stabilize around US$10k, global net inflows have to be around US$126 million in all categories, for both institutional and retail in every market around the world.  

There just isn’t room for US based institutional investors to spend US$200 - $400 million per week without significantly pushing up the price, unless whales are dumping.  Whales aren’t stupid - they know the halvening is coming. And we know Bitmain’s pockets are empty.

So Brian is probably exaggerating by a factor of ten.  In fact, they may not have any institutional investment at all given their cowboy history of insider trading.

[nanobtc]

Hi all, I am a full month behind on btc-talk (I am so ashamed, I had been doing it constantly for years). Technical difficulties in the local LAN thing.Practical difficulties in the life thing.

More about me:

I quit my job.
Got a better one. (it turns out, the new job is with a company from 1911, it has BLOCKCHAIN as a buzzword. hmm, I have heard of that one)

My parents are really old, and need help.
I am clearing out decades of crap (er, I mean, SOLID GOLD, VALUABLE/RARE TREASURES)

I quit playing live music to help my parents. I clocked 450 4 hours gigs, in 6 years.

It will take several more months to get shit re-arranged. Miss you all (even JJG. Sort of).

I am a million/billion pages behind, it will take me months to catch up here.

[jojo69]

Nanobtc

You are a good son.

You are absolved of your WO obligations.

Go in peace.

[cAPSLOCK]

It's only a matter of time. Big time money is flowing in, under the radar!

Whether institutions were going to adopt crypto or not was an open question about 12 months ago. I think it's safe to say we now know the answer. We're seeing $200-400M a week in new crypto deposits come in from institutional customers.

https://twitter.com/brian_armstrong/status/1162185049699057664

I would love this to be true but Brian Armstrong is completely full of shit

As bad as novogratz?

There are 1800 Bitcoins mined per day.  1800 x 7 x 10,000 = US$126 million per week in supply.

That means for the Bitcoin price to stabilize around US$10k, global net inflows have to be around US$126 million in all categories, for both institutional and retail in every market around the world.  

There just isn’t room for US based institutional investors to spend US$200 - $400 million per week without significantly pushing up the price, unless whales are dumping.  Whales aren’t stupid - they know the halvening is coming. And we know Bitmain’s pockets are empty.

So Brian is probably exaggerating by a factor of ten.  In fact, they may not have any institutional investment at all given their cowboy history of insider trading.

Armstrong... Xxxx him. I can't remember the last time he said the word "bitcoin". And I'm not a purist maximalist. But maybe some of the 400mm inflow is buying whatever those alphabet soup shitcoins  he keeps adding are.  That Xxxhole is not helping " crypto " much less bitcoin.