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

[JayJuanGee]

Master Eddie how is your short doing? still hedged with low spread?
#nohomo

Short not too happy yet, but improving slowly at the expense of the long. What's more important to me, my total margin is stable within 0.000004% - yes, that's 1/250,000. I'll cut down the losing branch as soon as she makes a solid move.

Master, does it mean you open more shorts if the long is growing on the way above? I understand it this way.

Yes, I brought the short up to the same size as the long when the price spiked, so their entry points are quite a bit closer now. If she goes down as I think she will, I'll cash out part of the short. If she goes up, I'll cash out part of the long. Ideally when she gets back, I can close both legs and keep the proceeds. Or maybe it will be more complicated, so I'll have to adjust things in progress because she likes to tease a lot. For now it's wait and see.

d_eddie:   I recognize that you and Gyrsur have been going a bit back and forth on this topic, and surely Gyrsur seems to have a decent amount of skepticism regarding both whether if your system works sufficiently to be worth the efforts and that it seems to take a decent amount of mental power and time consumption to regularly employ your system - and to hopefully remain profitable along the way.


I, personally, have a decent amount of confidence that you are both representing what you are doing in a decently accurate way, and that you are likely fairly profitable to stack more sats than you would have otherwise stacked if you would have attempted a pure going long position, including buying on dips and HODLing and perhaps selling a bit of BTC as the price goes up in order to buy back.   

So, essentially, I kind of accept that if you are employing shorts, then you are likely much more profitable than me (relatively speaking) during 2018 when the BTC price was largely going down for the whole year.  I also tentatively speculate that during our April 1 to June 27 BTC spike from $4,200 to $13,880, you would have been losing quite a bit of money during that period of time - maybe even enough to have off-set a decent amount of your 2018 BTC shorting profits.  Accordingly, between about April 1 and June 27, there were hardly any significant BTC corrections in order that you could have recouped what you would lose each time that you entered a new short at a higher BTC price.  So what did you actually do?  Just suffer the losses and keep pulling the shorting lever, because at some point on or about June 27 (probably until now) shorting had become profitable, again. 

Hopefully this is not too complex of an issue for you to attempt to address, which is largely how do you stay profitable during exponential BTC up periods, or do you just factor in that there might be short periods, such as the one between April 1 and June 27 that your shorting attempts are NOT profitable?

[1714002313]

1714002313

[1714002313]

1714002313

[El duderino_]

We just witnessed a classic supply nuke on $BTC as bears made an attempt to hold their last stand.

I expect buyers to retake control over the next two days and see this as an opportunity. Invalidation if we start closing below 8200.

via Imgflip Meme Generator
https://twitter.com/rj_killmex/status/1182641924496412673?s=21

[El duderino_]

shorting attempts are NOT profitable?

Shorting attempts not profitable??

via Imgflip Meme Generator

You have no google?

[JayJuanGee]

shorting attempts are NOT profitable?

Shorting attempts not profitable??

via Imgflip Meme Generator

You have no google?

I have not heard much out of Tone Vays recently, but whatever, I am asking d_eddie because it seems to me that d_eddie is employing a much more interesting strategy than Tone Vays.  Interesting partly because d_eddie attempts to be somewhat neutral towards price while expecting a long term BTC price increase.  Sure, Tone expects BTC prices to go up in the long run, but he also tries to trade based on his expectations of direction - and surely less incrementalism than d_eddie...> In other words, between d_eddie and Tone Vays, I am NOT sure who is employing more SOMA.^TM

[jojo69]

Fucking Erdogan man...lame

[Biodom]

Tone Vays...this is getting progressively more tiring.
Where does he get all this nonsense? From connecting a couple of dots with a straight line?
In addition, I don't believe that he is going to sell his apartment and buy btc at 2600. It wouldn't make any sense.
Vays is bitcoin's Robert Prechter.

[BitcoinNewbie15]

Has anyone else noticed the severe drop in liquidity on coinbase pro for BTC/USD?? Order book averaged about $50 million+ in buys all the way down to $2200 up until yesterday. Within the last 24 hours it dropped from $50 million down to barely over $10 million. What happened here?

[HairyMaclairy]

Has anyone else noticed the severe drop in liquidity on coinbase pro for BTC/USD?? Order book averaged about $50 million+ in buys all the way down to $2200 up until yesterday. Within the last 24 hours it dropped from $50 million down to barely over $10 million. What happened here?

You posted the same thing yesterday. Order books are irrelevant - whales use APIs.  

[vapourminer]

Trezor (security by open-source) or Ledger (security by obscurity)?

which do you prefer?

 

trezor.. security via open source. had a trezor since 2016

i have several trezor model ones (one will do u2f), a trezor t and a ledger. the trezor seems easier and more intuitive than the ledger. and it seems i always have issues with the ledger, minor ones but annoying.

[OROBTC]

Number of #Bitcoin addresses holding more than 1000 $BTC 👀

via Imgflip Meme Generator

https://twitter.com/glassnode/status/1182674900496146432?s=21

Maybe I'm reading the graph wrong, but it looks to me like ~10,500 addresses holding 1000 BTC (or more) would mean that those addresses (not wallets w/ more than one address) would own:

10,500 addys * 1000 BTC = BTC10,500,000

Or well over 50% of the BTC mined so far...

Maybe it's wallets holding over $1000 worth of BTC?  The twitter link sort of suggests that too.

[jbreher]

And as far as BSV is concerned, well let's not. Its been proven an outright scam by this point and there's nothing left to be said.

Defend your statement. In what way is BSV -- the blockchain, the payment system, and the protocol -- a scam?

Don't try to make this an argument of semantics when you know full well what I'm referring to. That's weak sauce.

Get real. I am merely responding to your literal fucking words. If you don't mean to imply that BSV itself is a scam, then don't say "as far as BSV is concerned, well let's not. Its been proven an outright scam". Because that would be lying, you conniving bastard. And lying is scammy behavior. Should we all tag you now?

Defend your statement. Or retract it. Any other path forward for you would be dishonorable.

I am talking about the reason why BSV was born: it was born as a scam.

Meaningless drivel.
There was a split in the community as to the proper way forward. Small blockers thought the the big blockers' route would break Bitcoin. Big blockers thought the small blockers' route would break Bitcoin. That's not a scam, you nincompoop. That's an honeest disagreement about the properties of the protocol.

You ignored my entire defense

What defense?

If you want to counter something, counter the reasoning below:

I'd be happy to, if you had something to respond to other than 'a couple of the people who believe this is the route forward have engaged in behavior I consider unsavory'. But you don't. There is nothing to respond to.

Again: Defend your statement. Or retract it. Any other path forward for you would be dishonorable.

[Biodom]

Number of #Bitcoin addresses holding more than 1000 $BTC 👀

via Imgflip Meme Generator

https://twitter.com/glassnode/status/1182674900496146432?s=21

Maybe I'm reading the graph wrong, but it looks to me like ~10,500 addresses holding 1000 BTC (or more) would mean that those addresses (not wallets w/ more than one address) would own:

10,500 addys * 1000 BTC = BTC10,500,000

Or well over 50% of the BTC mined so far...

Maybe it's wallets holding over $1000 worth of BTC?  The twitter link sort of suggests that too.

No, redline is the number of addresses (values on on the left, about 2100 addr), grey line-price of btc (value on the right in log scale).
2100X1000=at least 2.1 mil btc (in reality, much more since some addresses have MUCH more than 1000 btc).

[Searing]

Interesting...SEC files emergency relief against Telegram token (TON).
https://www.sec.gov/news/press-release/2019-212
Someone already invested 1.7 bil.
I wonder how this would progress.

This is the USA and the SEC. Let's see. $1.7 Billion dollars. (grabs calculator for his SEC guess on fine)

I bet they settle it for $210 million and then let it proceed. Hey, it is how we roll in the USA and the SEC.

Pay us some meagre fines and voila you are off the hook.

https://www.engadget.com/2019/10/01/sec-fines-block-one-24m-unregistered-ico-worth-billions/

See SEC fines Block.one above $24 million USD only. The fact is they made billions. It will be the same for Telegram token TON.

Rinse/Wash/Repeat. Money talks/bullshit walks. It is how the SEC rolls in the USA.

Brad

[OROBTC]

...

@ Biodom

OK, I read the graph wrong, I see that your explanation makes more sense.  Thank you.

In particular, it looks like I read the axes wrongly.

[Biodom]

Interesting...SEC files emergency relief against Telegram token (TON).
https://www.sec.gov/news/press-release/2019-212
Someone already invested 1.7 bil.
I wonder how this would progress.

This is the USA and the SEC. Let's see. $1.7 Billion dollars. (grabs calculator for his SEC guess on fine)

I bet they settle it for $210 million and then let it proceed. Hey, it is how we roll in the USA and the SEC.

Pay us some meagre fines and voila you are off the hook.

https://www.engadget.com/2019/10/01/sec-fines-block-one-24m-unregistered-ico-worth-billions/

See SEC fines Block.one above $24 million USD only. The fact is they made billions. It will be the same for Telegram token TON.

Rinse/Wash/Repeat. Money talks/bullshit walks. It is how the SEC rolls in the USA.

Brad

Right.
In the mean time there is a draft of new 140 form where question of "virtual currency' is on line 1.
https://www.accountingtoday.com/news/irs-revises-form-1040-schedule-to-ask-about-cryptocurrency
how important are these miniscule taxable proceeds are?
Apparently, important enough to put them on line one.
Realistically, though, we have a 20 tril economy and crypto income and cap gains has got to be a pimple on elephant's skin (so far)

[HairyMaclairy]

And as far as BSV is concerned, well let's not. Its been proven an outright scam by this point and there's nothing left to be said.

Defend your statement. In what way is BSV -- the blockchain, the payment system, and the protocol -- a scam?

Don't try to make this an argument of semantics when you know full well what I'm referring to. That's weak sauce.

Get real. I am merely responding to your literal fucking words. If you don't mean to imply that BSV itself is a scam, then don't say "as far as BSV is concerned, well let's not. Its been proven an outright scam". Because that would be lying, you conniving bastard. And lying is scammy behavior. Should we all tag you now?

Defend your statement. Or retract it. Any other path forward for you would be dishonorable.

I am talking about the reason why BSV was born: it was born as a scam.

Meaningless drivel.
There was a split in the community as to the proper way forward. Small blockers thought the the big blockers' route would break Bitcoin. Big blockers thought the small blockers' route would break Bitcoin. That's not a scam, you nincompoop. That's an honeest disagreement about the properties of the protocol.

You ignored my entire defense

What defense?

If you want to counter something, counter the reasoning below:

I'd be happy to, if you had something to respond to other than 'a couple of the people who believe this is the route forward have engaged in behavior I consider unsavory'. But you don't. There is nothing to respond to.

Again: Defend your statement. Or retract it. Any other path forward for you would be dishonorable.

And as far as BSV is concerned, well let's not. Its been proven an outright scam by this point and there's nothing left to be said.

Defend your statement. In what way is BSV -- the blockchain, the payment system, and the protocol -- a scam?

Don't try to make this an argument of semantics when you know full well what I'm referring to. That's weak sauce.

Get real. I am merely responding to your literal fucking words. If you don't mean to imply that BSV itself is a scam, then don't say "as far as BSV is concerned, well let's not. Its been proven an outright scam". Because that would be lying, you conniving bastard. And lying is scammy behavior. Should we all tag you now?

Defend your statement. Or retract it. Any other path forward for you would be dishonorable.

I am talking about the reason why BSV was born: it was born as a scam.

Meaningless drivel.
There was a split in the community as to the proper way forward. Small blockers thought the the big blockers' route would break Bitcoin. Big blockers thought the small blockers' route would break Bitcoin. That's not a scam, you nincompoop. That's an honeest disagreement about the properties of the protocol.

You ignored my entire defense

What defense?

If you want to counter something, counter the reasoning below:

I'd be happy to, if you had something to respond to other than 'a couple of the people who believe this is the route forward have engaged in behavior I consider unsavory'. But you don't. There is nothing to respond to.

Again: Defend your statement. Or retract it. Any other path forward for you would be dishonorable.

You forgot the bit where the big blockers try to fool newbies into thinking Bcash lol and BSV are Bitcoin.


Your entire value proposition is based on fraud.  

One of these logos is a BSV logo.  One of these logos is a Bitcoin logo.  I can’t tell the difference so I can’t see how a newbie could.  This is plainly fraudulent passing off.  

[infofront]

Number of #Bitcoin addresses holding more than 1000 $BTC 👀

via Imgflip Meme Generator

https://twitter.com/glassnode/status/1182674900496146432?s=21

More BTC being handled by exchanges, or whales accumulating? Maybe a bit of both

[Lauda]

We are in an interesting area. The hashrate is stilling catching up.

[jbreher]

This is from their FAQ:

"When you receive cryptocurrency from an airdrop following a hard fork, you will have ordinary income equal to the fair market value of the new cryptocurrency when it is received, which is when the transaction is recorded on the distributed ledger, provided you have dominion and control over the cryptocurrency so that you can transfer, sell, exchange, or otherwise dispose of the cryptocurrency."

You bolded the wrong part, so I underlined it. If you never split the new coins from the base chain, there is no tx recorded on the distributed ledger. And therefore, by definition, those coins have not been received.

[smartcomet]

Number of #Bitcoin addresses holding more than 1000 $BTC 👀

via Imgflip Meme Generator

https://twitter.com/glassnode/status/1182674900496146432?s=21

https://twitter.com/woonomic/status/1182754062107852802

IMO we're likely in a new renaissance of Bitcoin, this one is powered by capital influx of high net worth investors, while the early one was from the tech savvy who were bootstrapping the network.

Super Bullish.