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

[600watt]

as always: there is a pump and it gets dumped the shit out of it. who in his right mind is playing with this Uber-fire? e v e r y metric regarding bitcoin is bullish. what is the gain if I burn $2mio to dump the price back where it was 1 hour ago, when in general price is going upwards for 10 years?

since this is a speculation subform there ought to be traders here. what strategy do traders follow when they market dump bitcoins that are worth millions? I don't get it.

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[soullyG]

Pretty sure it's caused by margin traders getting called and liquidated, which then carries over to the other exchanges by arbitrage bots

[PoolMinor]

as always: there is a pump and it gets dumped the shit out of it. who in his right mind is playing with this Uber-fire? e v e r y metric regarding bitcoin is bullish. what is the gain if I burn $2mio to dump the price back where it was 1 hour ago, when in general price is going upwards for 10 years?

since this is a speculation subforum there ought to be traders here. what strategy do traders follow when they market dump bitcoins that are worth millions? I don't get it.

In the near past we used to call this the shaking out of weak hands.

Edit:
In other words, call their bluff and buy like a MOFO - with FOMO.

[AlcoHoDL]

Observing the charts:



We all know how it ends...

HoDL.

[somac.]

BTC dominance back over 60%.

[hv_]

from https://twitter.com/propelforward/status/1318340321701396481

a #thread on the #FinCEN $60mm civil money penalty assesed against #harmon related to #Helix #crypto tumbler as a service that was used to launder #bitcoin for much of the dark web. Buckle up. Allegations is ugly. 1/x

This and schnorr, taproot, coinjoin, LN .... see and wait

It's ll about purpose and responsibility

[aesma]

as always: there is a pump and it gets dumped the shit out of it. who in his right mind is playing with this Uber-fire? e v e r y metric regarding bitcoin is bullish. what is the gain if I burn $2mio to dump the price back where it was 1 hour ago, when in general price is going upwards for 10 years?

since this is a speculation subform there ought to be traders here. what strategy do traders follow when they market dump bitcoins that are worth millions? I don't get it.

It could be wales. Imagine you have 10000 BTC and millions of dollars in the bank. Why not play with 1000 BTC, pump and profit, dump and profit again ? At worse you might lose a bit, at best you might earn a lot and increase your stashes.

[600watt]

BTC dominance back over 60%.

bitcoin is this giant icebreaker vessel that managed to break through oceans of thick ice which literally no one believed it was ever possible. the thickness of the ice were technological barriers. the double spending problem. the byzantine generals problem. bitcoin is anti-intuitive in its maxed out inefficiency, the first time you hear about it you disregard it as bullshit. but then it proved to be breaking all that ice, streamed through it like a hot knife through zero-zero finest Moroccan hashish. so it was rewarded a market for us to exchange our increasingly worthless/dirty/bloody fiat for the crystal clear digital promise named bitcoin.

this should have been end of the story. but then some chap comes up with the idea to copy and paste the code and changing some lines and calling it the "better/newer/faster/shinier/bettersmellingfart" bitcoin. shitcoinery was born. what should have happened is: that stinking parody of a vessel should have been put in front of the same ocean of thick ice (should have been met with the same rigorous skepticism that bitcoin was confronted with). all those shit-vessels would fail this test, only bitcoin is the real icebreaker. in reality the stinking vessels just followed bitcoin through the canal that it had carved through the ice.

folks concluded since "blockchain" is the tech that breaks the ice (which is a grave mistake), every stinking blockchain copycat vessel is as good as bitcoin itself and should be rewarded with a market to trade fiat or btc for shitvessels/coins. the exchanges smelled profit and started to act as if those shitcoins were the real deal. someone wrote that is like a marketplace where one could buy gold and 6999 different fake golds also. this should have never happened.

now, with all the billions that poured into the market, shitcoinery became a beast of its own.  shitcoin whales and "inventors" suck out every dollar of sheep that fall for the online marketing propaganda promising "alt-season".

while the bitcoin price is a function of the number of people on this planet who understand money, the shitcoin prices are a function of the power of online marketing.

i am not sure if 60% market dominance means that 60% of the new money goes into btc and 40% is lost to scammers. it surely means lots of lives ruined.



 

[cAPSLOCK]

Jeff Bridges diagnosed with lymphoma 

Read it too ..... I’m getting depressed by sh*t like that

Yeah...

[cAPSLOCK]

Craving for 14 k today

Yeah

[cAPSLOCK]

Man this is SOOO bullish for bitcoin, scary, etc.  Worth the watch.

https://www.youtube.com/watch?v=qL2LfVRl3J0&feature=youtu.be
(Raoul Pal getting EVEN MORE orange pilled - and his thoughts on the coming Satanic world currency. lol)

[fillippone]

from https://twitter.com/propelforward/status/1318340321701396481

a #thread on the #FinCEN $60mm civil money penalty assesed against #harmon related to #Helix #crypto tumbler as a service that was used to launder #bitcoin for much of the dark web. Buckle up. Allegations is ugly. 1/x

Ridiculous.

Coinjoin is a best practice of the Bitcoin protocol.
One input/two output  transactions is a subpar use of the protocol, it is completely irrelevant that it the most used transaction type due to poor implementation by the "wallet" software.
This weak implementation allowed weak heuristics analysis by the so called "chain analysis" firms.

Of course the "everything is traceable was a useful rhetoric in the past, when first bitcoiners just wanted to reassure legislators they weren't doing anything illegal with their coins in order to be let alone building tomorrow's money. Now this rhetoric is backfiring, and we must now explain legislators that nothing is traceable, just as cash.

Centralised and custodial coinjoins of course are the first one in the target, but what happens with decentralised coinjoins (Wasabi?), what with decentralised/uncoordinated coinjoin? (JoinMarkets?) are they going to prosecute the devs? Or maybe even the users? (I mean something worse than blocking their accounts because they used such services).
 
These are only a few of the points in the A Treatise on Bitcoin and Privacy by Giacomo Zucco.

Of course the regulators want to hyperregulate every aspect of our life (hello Coronavirus lockdown's hyper-regulative delirium!), and if they  (tried) to forbid the use of some numbers, for sure they can try to forbid coinjoins!

[jojo69]

Jeff Bridges diagnosed with lymphoma 

Read it too ..... I’m getting depressed by sh*t like that

Yeah...

[vapourminer]

mmmm ~11950 usd and that place

[Elwar]

me - bitcoin

them - omg omg omg bitcoin? but that uses up all the planet's scarce resources, i literally can't breathe because of your funny internet game tokens

me - https://bitcoinmagazine.com/articles/introducing-cbpi-a-new-way-to-measure-bitcoin-network-electrical-consumption

them - that's a lot of words, I have sandalwood chopping boards to craft and you want to literally starve me to death

me - tl;dr:


them - yeah i don't know much about science, but i know what i like

me - (barely resisting the urge to literally stop them breathing) have fun staying poor

The way I see it. We could have had an alternative to Bitcoin years ago. There was eCash and others but the governments of the world with their monopoly thirst for power over currencies prosecuted anyone providing an alternative.

So...you had the option...decades ago, for a simple, low power solution. But you were too greedy. So now we need to burn energy to make up for government greed.

[Karartma1]

BTC dominance back over 60%.

a must read piece!

from https://twitter.com/propelforward/status/1318340321701396481

a #thread on the #FinCEN $60mm civil money penalty assesed against #harmon related to #Helix #crypto tumbler as a service that was used to launder #bitcoin for much of the dark web. Buckle up. Allegations is ugly. 1/x

Insightful comment

To be serious, I think we need to give a big round of applause to these two posts!

Go BTC go! Smash 'em all

[Lucius]

https://coinmarketcap.com/

Shitcoins down, BTC up🚀

[ivomm]

Despite the pathetic attempt to avoid the margin call, over $20 mil shorts have just been liquidated on mex. And many more on the remaining derivate exchanges. Bulls should take easily $12K resistance now... Wait for it ...

[jojo69]

[JimboToronto]

Good morning Bitcoinland.

Up solidly over $11.9k... currently $11975USD/$15766CAD (Bitcoinaverage).

Ready for yet another stab at $12k. One of these days it's going to stick. Then next stop: AYH.

Go Bitcoin go.

Jeff Bridges diagnosed with lymphoma 

Ouch. The dude is such a role model to all of us other boomers.

Still, he is 70 years old. Not everyone lives to be 100.

Hopefully the actor is as open to CBD therapy as his on-screen character would seem to be.