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

[AlcoHoDL]

On the Bitmex drama, my thoughts.
Some bitcoin companies are like lab rats: they have been left alone to experiment things that one day will become part of the new FINancialTECHnology world. Take Bitmex: bringing futures to the next level right? or finex or any other. Then they come and tell you, hey boy, this is our territory, how do you dare?
And then they publicly admit that "Digital assets hold great promise for our derivatives market and for our economy". Yeah, right?

Thumbs up to 600watt, somac. for https://bitcointalk.org/index.php?topic=178336.msg55302340#msg55302340

Although, IMO, institutions will find a way to get into Bitcoin without an ETF. We've seen however, that in the last months despite the huge purchases, the price didn't move as much as it should. The only logical explanation is of course the fraudulent shorting using Mex and other not well regulated exchanges. There is also a non logical explanation. As we are normal people here, carefuly thinking about every detail, we tend to forget that there are people who are not like us. Take for example Las Vegas - how many addicted people are in the casinos losing all the cash they bring in their pockets! The same is with the addicted daily traders, who can't be called manipulators, but like vicious brainless piranhas eat the price down until their stash is gone in an endless stop loss chase. The removal of Mex shorters will tip the balance against the piranhas and in favour of the natural growth. So I applaud the CFTC action and hopefully it will shut down Mex and put their owners and other money launderers in jail, where they belong!

I don't necessarily agree even though it looks like my post allowed you to get a merit boost (and I am overall surprised by those who merited you the most). I will keep my position and see how all this will unfold. I am more conscious than ever that only dexes, layer2, coinjoins, LN and such could allow us a bitcoin true experience.
If what you wrote will prevail, I will probably start to abandon the ship. I don't applaud the CFTC
But we are friends anyway

Yes, there will be dips.
Yes, there will be peaks.
Yes, there will be pumps.
Yes, there will be dumps.

Just Zoom Out^TM, chill, and have a beer!

If you're scared about a dip, you need some HoDL training...

Don't give them your coins.

A rusty nut won't budge, and that's about the only good quality of a rusty nut.

HoDL.

Sure man, I am like you on this. But, what I am seeing coming from the regulators is making me thinking (just have a look at V8's post up here). Maybe I am a bit naive but I don't want to become rich at the expense of my freedom, if you get what I mean.  
I know I should elaborate more but I am confused.

I hear you man, I'm concerned too, that we'll end up filthy rich, but unable to enjoy our riches... No joke.

Karartma1, I don't think you need to abandon ship. Let's wait and see how this plays out. It's all good to have total freedom to do whatever we want, but do you remember how Elwar's seastead ended up? We've got to tread carefully, or my statement "we'll end up filthy rich, but unable to enjoy our riches" may come true.

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[cAPSLOCK]

But one of the things the left is fucking good at?  Rebranding.

When I was a conservative it meant fiscally conservative and now it means socially (religiously) conservative.

The right has been hijacked.

Irony abounds.

You got that right.

I don't know what the right is anymore.  It has splintered into several factions... Neocon hawks that are actually democrats, and conspiracy theorists.  While the left has become the actual thing that they are saying the right is... Just the mirror image. Basically woke fascists.

I seriously think it could be the prelude to the (some sort of?) Apocalypse. Lol.
   

[nullius]

It is interesting that nutildah has never challenged the factuality of my very brief summary of the historical establishment of the original Antifa in 1932.  He can’t, of course; for I am quite correct about an historical fact that he is furious to see even mentioned.  I tossed it in here, not expecting any controversy, just because it is a an interesting fact that most people do not know; I thought that folks might be curious.  Evidently, some people would much prefer for this bit of history to be forgotten.

nutildah doth protest too much, methinks.

Why are you deadset determined to whitewash Antifa?

You made the rather outrageous claim that today's Antifa were communists and I asked you to back it up with some evidence other than that some of today's Antifa has chosen to make stickers based on the original Antifa logo. So where is your evidence?

Go reread my prior posts and reply to the substance of what I actually said, before you affect an air of overweening superiority over my “rather outrageous claim” that an organization which today overtly uses a Communist name (wtf, “some of today’s Antifa”? all Antifas use the Communist name “Antifa”!), a Communist symbol (their actual logo—not just a few random people making “stickers”), substantively Communist ideology, and Communist tactics, with the same old Communist purpose of political violence to incite riots and cancel free speech, is... Communist.

If you have difficulty identifying an anatine creature
that looks like a duck, walks like a duck, quacks like a duck, and overtly calls itself “mallard”,
then you may have contracted a severe case of liberalism.

I won’t be trolled by you that way into writing a book-length post which anyway, by your record, you will either ignore or cherry-pick as convenient.  I am too busy making some stickers, which, according to you, every reasonable person must presume carries no intended implications of political sympathy with a group that, borrowing your exact words, has “technically been defunct” since 1945:

Don’t make any outrageous claims about my stickers, now.  Where is your evidence?

bitcoin protocol says NOTHING about the 100X margin.
Capische?

bitcoin protocol says NOTHING about regulation by the American world-police of the Bitcoin activities of entities based outside the U.S., which even ban U.S. persons from using the site (I just checked).

Capisce?  ← Protip:  Try to spell your words of condescension correctly.

[cAPSLOCK]

There were liberals in the republic party and conservatives in the democratic party.

Rhino 🦏 was a nonexistent concept.

The most dangerous thing possible has happened right wing and extreme right wing are all republican.

left wing and extreme left wing are all democrats.

Bipartisanship is shot. It is a fucking mess.

Yeah.  That's exactly what I just tried to say, but better.  It actually scares me a little bit.  i feel like we have come to a place (at least in the US, but from here it really looks like lots of places in the world) where we are in some strange sort of peril.

[vapourminer]

When I was a conservative it meant fiscally conservative and now it means socially (religiously) conservative.

The right has been hijacked.

Irony abounds.

You got that right.

I don't know what the right is anymore.  It has splintered into several factions... Neocon hawks that are actually democrats, and conspiracy theorists.  While the left has become the actual thing that they are saying the right is... Just the mirror image. Basically woke fascists.

I seriously think it could be the prelude to the (some sort of?) Apocalypse. Lol.
 

two apocalypses in a row? isnt that against the rules?

[JayJuanGee]

An exceedingly long rant response was hereby cut, and replaced with the following:

Who appointed the United States and its institutions to supervise Bitcoin?

N.b. that I myself despise financial speculation in principle.  I think that in a perfect world, there would be no significant financial speculation at all.  If I find myself in the unusual position of defending that sort of activity, then that may be a sign that you have stepped into the zone of HANDS OFF MY BITCOIN and AMERICA IS NOT THE GODDAMN WORLD POLICE—AMERICA IS NOT THE BITCOIN POLICE.

Surely, that is part of the justification why bitcoiner should NOT be blanketedly cheering for BIG government to be taking down Bitmex and its various agents, presuming them to be criminals - even though currently, they are being charged as criminals.  There are due process rights in America, even though sometimes those due process rights are NOT fairly applied or allowed, so of course, frequently injustices occur.  

I am NOT proclaiming that the various departments of the US justice system (who are purportedly representing the interest of the US people) are without a variety of justifications, but surely they need to have jurisdiction over the matters that they are alleging and charging, and due process of law should be allowed, including in criminal cases there are presumptions of innocent until being proved guilty.  Therefore evidence needs to be shown in a court of law, and criminal cases surely have intent elements that must be proven in a court of law, too.  

I am more inclined to presume that injustices are taking place on the side of the accused, when I see members posting about the guilt of these various players way before evidence has even been adequately described (and sure in the court of public opinion, we might even be relying upon more flimsy evidence regarding how we might feel about the situation).

[edited out]

Karartma1, I don't think you need to abandon ship. Let's wait and see how this plays out. It's all good to have total freedom to do whatever we want, but do you remember how Elwar's seastead ended up? We've got to tread carefully, or my statement "we'll end up filthy rich, but unable to enjoy our riches" may come true.

For sure, if we are feeling overexposed to bitcoin, maybe we cut back on our allocation a bit.

But, even with various negative news like this, it remains difficult to figure out where to better put your money, and even if there might be some justifications, based on recent news, how to better allocate.

Of course, each person has to decide for themselves the extent to which they might be over-allocated in bitcoin, and also if s/he might become a target of governmental actions and/or overreach based on his/her own situation - whether that is being accused of  some conduct that s/he did not consider to be against the law.. but sometimes safety measures may well need to be taken in regards to where to hold stash and how much of the private keys are kept off line.  I personally find it can be quite difficult to attempt to sell BTC directly, especially if we start to get to very large numbers, in the future, so in that regard, it is likely better to have some arrangements with traditional institutions to be able to have avenues to liquidate portions of your BTC stash from time to time and also reporting on taxes, consulting with attorneys and accountants and things like that could be helpful too.  

If any of us are pulling out anything approaching fuck you status levels, whether that is a million or more or even in the territory of $6million or more, then we may well need to have some of those liquidation relationships because it could be much more difficult to operate peer to peer with those kinds of quantities, and then might we be interacting in circles that might end up causing questions to our own actions, too - even if we personally believe that we are trying to stay above board with every one of our actions.

[edited out]

I don't know what the right is anymore.  It has splintered into several factions... Neocon hawks that are actually democrats, and conspiracy theorists.  While the left has become the actual thing that they are saying the right is... Just the mirror image. Basically woke fascists.

I seriously think it could be the prelude to the (some sort of?) Apocalypse. Lol.

Yep.. preparing for and conceding to the possibility of apocalypse and Armageddon-like scenarios are seeming way less outlandish than they were feeling pre-2020.

Might have even called you out as a "nutjob" before you even had a chance to finish your sentence - but these days, you are coming off as somewhat reasonable deploying that apocalypse term.

[Biodom]

bitcoin protocol says NOTHING about the 100X margin.
Capische/capisce/capiche/?

bitcoin protocol says NOTHING about regulation by the American world-police of the Bitcoin activities of entities based outside the U.S., which even ban U.S. persons from using the site (I just checked).

Capisce?  ← Protip:  Try to spell your words of condescension correctly.

maybe in your home country it is capisce, but around here my spelling is correct (or at least one out of two-three used variations).
https://www.urbandictionary.com/define.php?term=Capische
read the complaint re the rest...

[Hueristic]

I don't know what the right is anymore.  It has splintered into several factions... Neocon hawks that are actually democrats, and conspiracy theorists.  While the left has become the actual thing that they are saying the right is... Just the mirror image. Basically woke fascists.

I seriously think it could be the prelude to the (some sort of?) Apocalypse. Lol.
    

two apocalypses in a row? isnt that against the rules?

Amusingly enough its actually in paperback!



https://www.amazon.com/Donald-Trump-Americas-Apocalypse-Thiel-ebook/dp/B01MR70ERL

[nullius]

So as I suspected. You don't actually have any evidence whatsoever.

Why, yes!  With argument by repetition, you can control the frame of the discussion, and divert everybody’s attention away from all that has actually been said—which you have conveniently ignored.

Oops, not really.  Nice try.

I am not inclined to engage you in an extended discourse on history and political theory, for the same reason that I have never delivered a lecture on geophysics to Flat Earthers.  But since you are so transparently using propaganda shill tactics that should make hv_ envious of your twistiness, I must ask:  Why are you deadset determined to whitewash Antifa?

[JayJuanGee]

bitcoin protocol says NOTHING about the 100X margin.
Capische/capisce/capiche/?

bitcoin protocol says NOTHING about regulation by the American world-police of the Bitcoin activities of entities based outside the U.S., which even ban U.S. persons from using the site (I just checked).

Capisce?  ← Protip:  Try to spell your words of condescension correctly.

maybe in your home country it is capisce, but around here my spelling is correct (or at least one out of two-three used variations).
https://www.urbandictionary.com/define.php?term=Capische
read the complaint re the rest...

7 out of 10 dentists approve your spelling, Biodom.


 

[strawbs]

bitcoin protocol says NOTHING about the 100X margin.
Capische/capisce/capiche/?

bitcoin protocol says NOTHING about regulation by the American world-police of the Bitcoin activities of entities based outside the U.S., which even ban U.S. persons from using the site (I just checked).

Capisce?  ← Protip:  Try to spell your words of condescension correctly.

I'll just leave this here:

My first intended WO post, never published, was actually begun as a reply to the aforesaid entomonymous cretin

#condescension backfire

[Searing]

https://twitter.com/RoninNode/status/1312339488774017024
hmm maybe

So...any 'VET' can use the 'scanning' equipment at his office and read your private keys? I think not!

[Biodom]

https://twitter.com/RoninNode/status/1312339488774017024
hmm maybe

So...any 'VET' can use the 'scanning' equipment at his office and read your private keys? I think not!

yes, he can then asscertain the key (provided that the capsule is in that place).

sorry for the pun

[Biodom]

Resting tonight...finished a couple of books recently.
"The dark forest"- by Cixin Liu (following the 'The Three-Body problem")
Great sci-fi, many twists and turns that leave you in suspension until almost the very end.

"The price of tomorrow" by Jeff Booth. The main thesis is that technology is inherently deflationary and it cannot be stopped. The society needs to re-organized because the inflation will not be here any time soon. Lots of references to bitcoin.

"The infinite machine" by Camilla Russo.
Maybe you don't care about cough-ethereum-cough, but i like to know about the competitors.
In fact-here is a question:

Do you think that recent practical abandonment of eth 2.0 in lieu of level 2 solutions (mostly zk-rollups), etc means that eth had bitten more than it can chew and it is choking on this (Defi, etc) as we speak? Their main head honcho, VB, recently opined that there would not be eth 2.0 in all practical senses (just 1.5+rollups).
Mainly: are they practically went into such code complexity that they would not be able to solve it and, hence, prone to an outright collapse?
If so, btc and newer chains might benefit.

[nullius]

Capisce?  ← Protip:  Try to spell your words of condescension correctly.

I'll just leave this here:

My first intended WO post, never published, was actually begun as a reply to the aforesaid entomonymous cretin

#condescension backfire

What’s wrong?  You are literate in ancient Greek, and you have a scholarly critique of my admittedly amateurish grammar?  Or do you complain that the word I constructed from Greek roots was inadvertently omitted from your dictionary?

Methinks the backfire is on you:  You are not as smart as you believe you are.  Oh, how I desiderate the bygone days when reading was a privilege.

Every one being allowed to learn to read, ruineth in the long run not only writing but also thinking.

“Entomonymous” was a part of a play with “entomoid” on the name of a creature thereby mentioned...

...but if you not only failed to grasp it, but chose to insult me from your own stupidity and attempt correcting me from your own illiteracy, why should I reveal to you the secrets of the poet’s art?


P.S., just in case you ever do catch me in such typographical errors as I not infrequently find in my own posts, keep handy my stock answer for criticisms from creatures far below my level:

—Am I mortal?  Do I myself sometimes make bizarre typographical errors (usually induced whilst editing) which are not caught by my obsessive exercise of the preview button to read proof?  Alas!  It most saddens me when such a fate befalls one of my precious little belles-lettres.  Nobody has yet dared to flame me over such a triviality; but if or when that happens, my response may be expected to be along these lines:

“Quel dommage!  I have erred!  😢  The form of my art is marred by some trivial flaw which dishonours its unavoidable substance!  I will now slap myself in the face with a large trout, and then drink myself into a stupor.  Meanwhile, complaints from my critics shall be filed according to the virtù of their own substances, as measured against mine. 🗑️”

[xhomerx10]

Maybe we shouldn't oughta know exactly how your mind works, Nullius. 

[jojo69]

[serveria.com]

Muahaha... just take a look at that guy with a flag! Priceless! 

[fillippone]

Can you understand Spanish?

This is a guide for this, complete with a 3D printable model to properly stamp the words.

https://estudiobitcoin.com/fabrica-tu-billetera-fria-con-arandelas/

[600watt]

Resting tonight...finished a couple of books recently.
"The dark forest"- by Cixin Liu (following the 'The Three-Body problem")
Great sci-fi, many twists and turns that leave you in suspension until almost the very end.

"The price of tomorrow" by Jeff Booth. The main thesis is that technology is inherently deflationary and it cannot be stopped. The society needs to re-organized because the inflation will not be here any time soon. Lots of references to bitcoin.

"The infinite machine" by Camilla Russo.
Maybe you don't care about cough-ethereum-cough, but i like to know about the competitors.
In fact-here is a question:

Do you think that recent practical abandonment of eth 2.0 in lieu of level 2 solutions (mostly zk-rollups), etc means that eth had bitten more than it can chew and it is choking on this (Defi, etc) as we speak? Their main head honcho, VB, recently opined that there would not be eth 2.0 in all practical senses (just 1.5+rollups).
Mainly: are they practically went into such code complexity that they would not be able to solve it and, hence, prone to an outright collapse?
If so, btc and newer chains might benefit.

merited for suggesting reading books. (I just pretend I didn't see the eth stuff)

imagine you really take it serious and decide to read one book per week, no matter what comes. (I know that there are folks who would think now "only one book a week?", but I am talking about the regular hard working bitcoiner with lots of time devoted to several social media shit trying to keep up with bitcoin development all around)
that makes 50 books a year. 500 in 10 years, 1500 in 30 years.
1500 is a semi sized bookshelf in a bookshop. 1500 is nothing. an entire life devoted to books and all you get is one measly shelf.  
be very picky about what you read, don't waste time with mediocre books.

I would be interested to hear suggestions of good reads of you guys.

books I am reading right now:
"A history of the World in 100 Objects" by Neil mc Gregor
"Dead Men's Trousers"  by Irvine Welch (3rd part of Trainspotting!)
"The meaning of War" by Ian Mortimer