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

[LUCKMCFLY]

Everything is on the right track. Hodl!



Twitter: https://twitter.com/IdeltoInfo/status/1274225173126885378

“Despite a drop in bitcoin’s price and onchain fundamentals in week 24, the overall health of the network remains strong,” the report notes.

Source: https://idelto.com/2020/06/holders-gather-233k-btc-this-year-while-bitcoin-cash-savers-outshine-composition-by-time-held/

[Tash]

Did you know Anne Boleyn, the Queen of England from 1533 to 1536 was a Bitcoin advocate.

[Biodom]

Did you know Anne Boleyn, the Queen of England from 1533 to 1536 was a Bitcoin advocate.

yea, her husband got mad at her bitcoin advocacy...it did not end well.

[Phil_S]

[AlcoHoDL]

a $92K annual drawdown on $2.3M. Not shabby, but neither is it anywhere near what I was making when I was a wage slave. And I ain't typical retirement age yet, so allowances need be made to extend the principal that many more years.

[...]

I recall that you (picnic bear) and I had already had a variation of this conversation regarding having some enjoyment in work, and surely there is going to be individual variation in that regard, and even rewards from work that are not necessarily feeling like they are slave labor. Accordingly, there are reasons why some multi-millionaires and even billionaires will continue to involve themselves in money making endeavors, even though they really do not need to be occupying their time with such business arrangements and some of the work that might come out of juggling various kinds of business relationships, so in that regard, having fuck you status can be played at higher levels, too in which wealthy persons who chooses projects based on personal enjoyment, status, purpose and sometimes will be in a position to can business relations or others to go fly a kite if they do not want to play ball with the wealthy person... of course, assuming that no contractual obligation(s) had been created... and sometimes being the one with more money can sometimes allow for the breaking of contracts without really suffering meaningful negative financial consequences, too.  

[...]

Spot on!

Steve Jobs once said: "For the past 33 years, I have looked in the mirror every morning and asked myself: 'If today were the last day of my life, would I want to do what I am about to do today?' And whenever the answer has been 'No' for too many days in a row, I know I need to change something."

Calling yourself a wage slave for too long means you really need to change something in your life. Not all people can achieve getting enjoyment from work. Some are incapable, others lazy, others just unlucky, although I don't really believe luck can fully define someone. One can make his/her own luck in life, or he/she falls into the "incapable" category. But at least you've got to try. If you fail, try again, and if you fail again, maybe you're not able to do it, or you need to re-evaluate your goals, and Bitcoin can help in such cases, but not everyone is in this situation. Not everyone is a wage slave.

Reaching "fuck you" richness status should not necessarily mean quitting work, or stopping doing what you're doing. It could mean that you are now able to do more things that were out of your reach before, feeling more secure about your financial situation, enjoying your hobbies and leisure time to the maximum, but continue working on the field you enjoy, and even be much more productive and much more involved now, keeping your brain active and your intellectual abilities in top shape. Many of the super-rich personalities of the world are workaholics, because it's their work that keeps them alive.

[ivomm]

Warning:

[Febo]

Can't read the article but banks might have no choice than buying negative yelding bonds to follow rules on holdings. Basically to lend money to "risky" companies and people, they have to hold some "non risky" debt.

Funny that the ECB doesn't offer the same deal to actual people.

Yes. My niece took a loan to buy an apartment about a year ago. I was very surprises how high interest bank still take fro lending out money while they get money for no interest them self. I guess in the future bank loans to actual people will have to get to zero

[_javi_]

This could be big:
https://angel.co/today/stories/wirecard-ceo-resigns-after-banks-say-missing-2-billion-doesn-t-exist-24442

These guys were issuing quite a number of BTC friendly debit cards. Potentially a WaveCrest 2018 crisis returns? 

P.S. Here's a better link: https://www.cnbc.com/2020/06/19/wirecard-ceo-markus-braun-resigns-as-company-share-price-collapses.html

I still have 0.1 BTC in the limbo of Epayments since february. No news or ETA when the funds will be unlocked.

Epayments and FCA (UK) blame each other for the closure, leaving customers without their money.

[Lucius]

Are these articles coming off as desperate or what?

I've already commented on that here, and I think we can explain statements like this by something we can call the "Lee effect". It seems that little Michael Lee who worked on this discovery, may be a relative of the famous Tom Lee (Fundstrat).

[LFC_Bitcoin]

BTC reserves held on exchanges continue to decrease. For the last 2 days over 80K BTC were withdrawn from all exchanges. This sideways lingering continued long enough. We are getting to the point where the upward explosion will be unstoppable. The rocket is fueled and ready to launch, overcoming the gravity of the miniscule daily profit seekers. Traders, think twice before hitting the sell button with a 0.9% profit!

We can’t save them all brother, LET THEM BURNNNNNN!

[JimboToronto]

Good morning Bitcoinland.

Sideways 'r' us... currently $9295USD/$12650CAD (Bitcoinaverage).

At least it didn't drop down after the halving like some predicted. This could be a long summer though.

I guess we'll have to wait and see.

I was very surprises how high interest bank still take fro lending out money while they get money for no interest them self. I guess in the future bank loans to actual people will have to get to zero

Why does this surprise you? This is how banks make their money. The only way consumer rates could ever get to zero would be for central bank rates to go so far negative that competition between banks forced them, and in that case inflation would collapse the system.

Banks aren't the only ones. All usury-based businesses work on the same principles.  

The first thing they taught us at the insurance company where I had the second of the 3 jobs of my youthful employment folly, was that they didn't make money from paying out less in claims than they collected in premiums. They actually paid out slightly more than they took in. It was all about using the policy holders' money.

Likewise, how do you think Robinhood can offer no-fee trading? It's all about usury.

When you buy a home on a mortgage, you aren't buying a home for yourself. You're using your down payment to buy a home for the bank and then renting it from them. I suppose negative interest rates for the banks are just another form of subsidized housing. Eventually it falls on the taxpayer.

[Hueristic]

Many of the super-rich personalities of the world are workaholics, because it's their work that keeps them alive.

When the stress of needing to receive pay in order to survive is removed you can work for your own dreams and not someone elses.

This is the freedom we all deserve.

[Hueristic]

Can't read the article but banks might have no choice than buying negative yelding bonds to follow rules on holdings. Basically to lend money to "risky" companies and people, they have to hold some "non risky" debt.

Funny that the ECB doesn't offer the same deal to actual people.

Yes. My niece took a loan to buy an apartment about a year ago. I was very surprises how high interest bank still take fro lending out money while they get money for no interest them self. I guess in the future bank loans to actual people will have to get to zero

I called my bank for a quick personal 10k loan (I haven't taken a loan since the mid 80's) and they wanted 18%, I was shocked and laughed in the guys face.

Yes, I'd rather take a loan than sell anything right now.

[sirazimuth]

Haven't taken out a personal loan in years so I guess I'm outta that loop, but 18% ?? Holy shit... that is shocking.

I used to take out  cash advance loan offers from my Visa Card.  (issuer is not a major bank, some joint out in Nebraska)
I musta been a good customer as the rate was  4% and no fee.
Now that my balance has been zero for so long they lowered my credit limit...lol.
(any balance now gets paid off every month of course)

[Hueristic]

Haven't taken out a personal loan in years so I guess I'm outta that loop, but 18% ?? Holy shit... that is shocking.

I used to take out  cash advance loan offers from my Visa Card.  (issuer is not a major bank, some joint out in Nebraska)
I musta been a good customer as the rate was  4% and no fee.
Now that my balance has been zero for so long they lowered my credit limit...lol.
(any balance now gets paid off every month of course)

I used to have a revolving loan on my personal checking that was something like 20% but if I paid it within a month it was free. when I changed banks (credit union got bought out and they started adding bullshit fees) I got what I thought was the same thing but apparently they have changed the line of credit to a fee based structure but otherwise I'm pretty happy with my bank now as I pay no fees no matter what the balance and I get all ATM fees refunded.

Funny thing is that 18% was if you have top credit score, I didn't even get to the point to have him check mine to see what my rate would be. I think it gets worse if you don't use it but I haven't bothered checking in a few decades so I have no clue what the latest scam they are running is structured as.


Credit score is a scam

https://medium.com/swlh/the-greatest-capitalist-scam-of-the-century-why-credit-scores-are-screwing-us-all-over-7f6b607e745d

[Torque]

NY FED classified Bitcoin as fiat money..lol.


https://decrypt.co/32940/new-york-fed-bitcoin-fiat-money

Bitcoin Is Not a New Type of Money.

Complete bullshit. If they classified it as fiat money, then the IRS wouldn't need to tax it.

[ssmc2]

NY FED classified Bitcoin as fiat money..lol.


https://decrypt.co/32940/new-york-fed-bitcoin-fiat-money

Bitcoin Is Not a New Type of Money.

Complete bullshit. If they classified it as fiat money, then the IRS wouldn't need to tax it.

Someone please inform the IRS

[BitcoinGirl.Club]

Good afternoon WO!
Observing @ $9,246
Two weeks break was worth it. Now back to home.

How are we all? Nothing changed for Bitcoin as I see.

I need a summary @JSRAW 🤪

[Hueristic]

Complete bullshit. If they classified it as fiat money, then the IRS wouldn't need to tax it.

Someone please inform the IRS

https://libertystreeteconomics.newyorkfed.org/2020/06/bitcoin-is-not-a-new-type-of-money.html

Disclaimer
The views expressed in this post are those of the authors and do not necessarily reflect the position of the Federal Reserve Bank of New York or the Federal Reserve System. Any errors or omissions are the responsibility of the author.

[Torque]

Calling yourself a wage slave for too long means you really need to change something in your life. Not all people can achieve getting enjoyment from work. Some are incapable, others lazy, others just unlucky, although I don't really believe luck can fully define someone. One can make his/her own luck in life, or he/she falls into the "incapable" category. But at least you've got to try. If you fail, try again, and if you fail again, maybe you're not able to do it, or you need to re-evaluate your goals, and Bitcoin can help in such cases, but not everyone is in this situation. Not everyone is a wage slave.

True. But the actual work of one's career can also change drastically over time, to become much less meaningful.

For example, when I first got into IT programming in the mid 90's, the work was actually very meaningful and fun. We were building business software applications from complete scratch, and there was a sense of passion, creativity and analysis in what I was doing day to day. Programmers could use their brains to bang out code to build custom use cases and custom UIs, were respected and revered, and got paid accordingly for their creative analysis and technical knowledge.

By the time I got out of that career in the 2010's, IT programmers were reduced to simply integrating off-the-shelf, expensive closed-source software into existing business environments. They essentially became glorified software "babysitters", having to spend their days trying to integrate and debug software that was poorly-written by someone else, often with poor performance, poor configuration, archaic APIs, missing or incomplete documentation, lack of expertise, etc. And these software integrations were often initiated under ridiculous time schedules and low/inadequate budgets, with use-case and performance expectations that could not be met in the time allotted. Or ever. It became soul-crushing work, and I started having bouts of anxiety and depression that I never had in the beginning of my IT career.

What the IT career became in the end, was not something I had signed up for in the beginning. So I got out.