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

[Cryptotourist]

No wonder CT.... you have such shitcoiner roots...     

Gee, thanks Jay, good thing Juan gets it.

Have you seen ETH today?


There is nothing like the smell of an incoming ATH in the morning.
Observing $18545. We had our dip, so ... go BTC, go!

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[Lambie Slayer]

this is to all the PayPal news naysayers. Pantera Capital claims that PayPal is forced to buy btc 1:1 as customers push the "buy" button.

When PayPal went live, volume started exploding. The increase in itBit volume implies that within four weeks of going live, PayPal is already buying almost 70% of the new supply of bitcoins.
PayPal and Cash App are already buying more than 100% of all newly-issued bitcoins.

https://panteracapital.medium.com/bitcoin-shortage-172a9205dc0

credit goes to our guy Gyrsur

edit: paypal is forced to buy 1:1, but they are not forced to sell in the same way. they are the worlds biggest bank when it comes to customer count. they will soon be also the worlds largest bitcoin exchange. they see all the orders of all their customers. they could buy/sell strategically in order to profit on the spread. they will buy the dips in order to sell the coins to their customers later. it is actually also a reason why we don't see retail demand through google searches: PayPal users don't need to to google "bitcoin", they just click a button on their PayPal site. 100mio users of btc network needed ten years to build up. 300mio PayPal users could enter the game in no time. combine that with institutional fomo and supply halving. perfect storm.  imagine someone put up hundreds of millions of bitcoin ATM's at once. (they are in the tens of thousands currently) and that is what PayPal sort of did: adding 300 mio virtual btc ATM's with one stroke.

Golden Bull Run confirmed.  

All time highs by Thanksgiving still on track.

[Cryptotourist]

@proudhon here boy, come out-come out wherever you are, we need a math and science confirmation ASAP.

[AlcoHoDL]

Are you ready, Bitcoin bears?

[DaRude]

this is to all the PayPal news naysayers. Pantera Capital claims that PayPal is forced to buy btc 1:1 as customers push the "buy" button.

Ok, then all good! If that's confirmed by math and science, and Pantera Capital, we shouldn't worry anymore.

I really don't see how can it NOT be 1:1. Are you implying that PayPal taking the exposure themselves and covering the other side of the trade when gramma buys paper BTC through paypal? What would be the purpose of that, risk their $225B market cap when BTC swings up and gramma wants to take profit?

Pretty sure that's Rule#1 of any financial institution, don't bet with your own money. When they're not party to a trade they make money on volume regardless of the price.

[Cryptotourist]

Are you ready, Bitcoin bears?

But but ... the game has upped, they need bigger equipment now, industrial grade.

[Lambie Slayer]

Are you ready, Bitcoin bears?

But but ... the game has upped, they need bigger equipment now, industrial grade.

Wow Bears, not looking good for you.... you would think the soda can would have taught them a lesson. 

[600watt]

this is to all the PayPal news naysayers. Pantera Capital claims that PayPal is forced to buy btc 1:1 as customers push the "buy" button.

Ok, then all good! If that's confirmed by math and science, and Pantera Capital, we shouldn't worry anymore.

I really don't see how can it NOT be 1:1. Are you implying that PayPal taking the exposure themselves and covering the other side of the trade when gramma buys paper BTC through paypal? What would be the purpose of that, risk their $225B market cap when BTC swings up and gramma wants to take profit?

Pretty sure that's Rule#1 of any financial institution, don't bet with your own money. When they're not party to a trade they make money on volume regardless of the price.

paypal has no choice. they are operating under a New York State bitlicense legal framework. they are obligated to keep 1:1 BY LAW.

[El duderino_]

https://twitter.com/maxharrysong/status/1330792131825430530?s=21

[El duderino_]

https://twitter.com/bitcoin/status/1330774810977214464?s=21

[UnDerDoG81]

CCMF happy Monday pump everybody. Today 19k will be broken!

[Cryptotourist]

Conspiracy of the day. Hidden messages on tradingview:



We might go sideways for a few days, but honestly, who cares? Just look at that beast!

Oh proudhon, wakey wakey!

[Wekkel]

Conspiracy of the day. Hidden messages on tradingview:

https://i.imgur.com/iieRhpQ.png

We might go sideways for a few days, but honestly, who cares? Just look at that beast!

What is this ‘Hash Ribbons’ indicator? Seems like black magic 

I am thinking about this bull run and the fact that it is the umpteenth time that we are experiencing it.

Would this be the time that no one bothers to sell anymore (except for a few traders) because they know by know that selling = losing the game?

It that’s right, I don’t see serious selling before $50k

Bitcoin never ceases to surprise so let’s see what happens next.

[Bitcoin577]

CCMF happy Monday pump everybody. Today 19k will be broken!

If its going to happen then surely I am going to enjoy because right now I fix this figure for my first sell.

[itod]

Conspiracy of the day. Hidden messages on tradingview:

https://i.imgur.com/iieRhpQ.png

We might go sideways for a few days, but honestly, who cares? Just look at that beast!

What is this ‘Hash Ribbons’ indicator? Seems like black magic 

+1 for the question. Any historical data it is really successful?

[vapourminer]

I am thinking about this bull run and the fact that it is the umpteenth time that we are experiencing it.

Would this be the time that no one bothers to sell anymore (except for a few traders) because they know by know that selling = losing the game?

It that’s right, I don’t see serious selling before $50k

Bitcoin never ceases to surprise so let’s see what happens next.

yeah traders gonna trade but thats more fluff really. so it seems to me at least, when compared to the number of true hodlers

peeps who hodled through 20k with all or part of their stash likely dont care about the price till truly bigly numbers, simply because they dont need the fiat/whatever, or are the hardcore long term players.

but im sure there are many, like myself, that enjoy slicing a bit off the top here and there on the way up.

[Phil_S]

Indicators? Where we're going, we don't need indicators.

[Wekkel]

https://stanislavkozlovski.medium.com/bitcoin-is-the-move-5fd5c6cfbe0c

Probably posted before but an interesting read. All adds up to the straight-to-$100k story 

[AlcoHoDL]

https://stanislavkozlovski.medium.com/bitcoin-is-the-move-5fd5c6cfbe0c

Probably posted before but an interesting read. All adds up to the straight-to-$100k story  

It feels so good when I see this number...

I bought my first BTC around $200.

I felt really good when it reached $1000.

I felt ecstatic when it reached $10k.

I can't even begin to imagine how I will feel when it reaches $100k! This will be the "goal achieved" milestone for me. I will aim to always maintain at least 50% of my coins. Depending on the situation then, my intention is to only sell BTC whenever I need "conventional cash" for something. This will probably result in actually spending very few of my coins, as my living expenses are not too high. For me, a very important element of owning Bitcoin is the psychological factor. Just knowing I've attained "fuck you" rich status is enough. Lambos, hookers and blow may follow, but they are not my aim.

Onwards & upwards.

HoDL strong, brothers & sister.

[WastedLTC]

imagine someone put up hundreds of millions of bitcoin ATM's at once. (they are in the tens of thousands currently) and that is what PayPal sort of did: adding 300 mio virtual btc ATM's with one stroke.

The other important note, if someone installed 300 million ATMs people could immediately sell.   Not the case with PP.   First everyone has to purchase so it is very one sided at the moment (ATM lol)