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

[savetherainforest]

... Goldbugs, ...

They sold their stash and learned the intricate process of "how to physically own bitcoin on your computer."

[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.

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.

Pantera Capital owns bitstamp, so they kinda sorta know I would say.

https://www.crypto-news-flash.com/paypal-users-are-buying-huge-amounts-of-bitcoin-data-shows/

the original medium post of Pantera Capital is ssssssuuuuuper bullish af. there are some weird sentences about shitcoins in there as well, but the rest is some real bull conviction.


and to all of you who wondered if Dan Morehead and Mike Novogratz´s funds have enough ammo:

“Dan put in a big wedge of capital, and at that point, Pete Briger and I, who were the other two amigos of the threesome, Fortress had done well, we were certainly wealthier, and we were like, ‘Damn, if he’s putting that in, we have to at least put one dollar more than him.’ And so, in lots of things in investing, if you get in at good levels early and you put a lot in, it makes the whole game a lot easier. We bought like 90,000 coins between the three of us.

 


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.

[JayJuanGee]

... Goldbugs, ...

They sold their stash and learned the intricate process of "how to physically own bitcoin on your computer."

Sure, the smarter ones got into bitcoin.. but there are a good number of goldbugs still fighting bitcoin and also consultants who are not afraid to tell their clients about gold but fail/refuse to introduce their clients to bitcoin.. and the relatively flat performance of gold, in spite of the recent gold exuberance, was the context of my post that you cited to describe that ongoing phenomenon.. and relatively slow migration of the gold bugs over to bitcoin, and of course, there are layers, too.. and some gold bugs that are going to take longer before they come over to bitcoin.

By the way, I see that last week's candle was a pretty BIG ass green wick.  It opened $15,975 and it closed $18,435 (nearly $2,500 between open and close - so a pretty hot candle)... so, yesterday's little $1,000 dip and then mostly recover brought the closing BTC price down a wee bit (maybe $200-ish, perhaps).. but surely, we are still going into the 8th weekly green candle with a bit of a high number that is not impossible to sustain as green, but surely this eighth's week green candle is going to be interesting to watch... the next 7 days continue to be critical.^tm

[savetherainforest]

... Goldbugs, ...

They sold their stash and learned the intricate process of "how to physically own bitcoin on your computer."

Sure, the smarter ones got into bitcoin.. but there are a good number of goldbugs still fighting bitcoin and also consultants who are not afraid to tell their clients about gold but fail/refuse to introduce their clients to bitcoin.. and the relatively flat performance of gold, in spite of the recent gold exuberance, was the context of my post that you cited to describe that ongoing phenomenon.. and relatively slow migration of the gold bugs over to bitcoin, and of course, there are layers, too.. and some gold bugs that are going to take longer before they come over to bitcoin.

By the way, I see that last week's candle was a pretty BIG ass green wick.  It opened $15,975 and it closed $18,435 (nearly $2,500 between open and close - so a pretty hot candle)... so, yesterday's little $1,000 dip and then mostly recover brought the closing BTC price down a wee bit (maybe $200-ish, perhaps).. but surely, we are still going into the 8th weekly green candle with a bit of a high number that is not impossible to sustain as green, but surely this eighth's week green candle is going to be interesting to watch... the next 7 days continue to be critical.^tm

Trust me! ... ... I'm a programmer. And BTCiT-coin is worse then any competitive video game. YOU JUST CAN"T WIN ! With that in mind, I don't think these "pumps" are just pumps. The fact that the dips have a short duration, means more then it should.


Edit(0)*: I should do some research into who coined the term "bite" or "byte" so I can make an astral chart to get some clarity into all this nonsense!  

edit(1)*:  Considering " B I T C O I N " has the numerology of " 2 9 2 3 6 9 5 " ... meaning it is getting down to : 6 ....  ... 6 is about f%^cking, love, exchange, harmony... But mostly f^cking having a good time.  

[Karartma1]

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.

[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!

[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?