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

[cAPSLOCK]

https://twitter.com/AutismCapital/status/1330920515393916928

"CEO says early next year they will allow Crypto (currently: BTC, ETH, BCH, LTC) to be used as a funding source for any of their 28 million merchants. This addresses the “no utility” objection many retailers have about Crypto."

Still nice, but paper BTC derivative != real BTC

Doesn't help utility until they start accepting BTC deposits which i foresee to be their next step. They created their paper btc walled garden, and before anyone can sell their btc notes they must first buy them, this is squeezing the supply so next logical step is to let people deposit & convert their real BTC for PayPal BTC derivative sort of like GBTC fund

Folks are saying their NY license absolutely requires them to own 1BTC for every 1BTC they sell via their app.  This would preclude them being a fractional reserve via synthetic bitcoin would it not?

My position on this has been simple from the beginning.  Bitcoin does not care who owns it.  It does not care how people do business with it.  It does not care if your use is legal, or regulated, or not.  It does not care if you are an African merchant, or a commercial bank, or a teenage girl, or the worlds largest payment processor.  Any of these can use it to whatever extent they choose.  It does care (so to speak) about people who try to do a rope-a-dope and route around it's consensus.  The first really BIG rush on a fractional reserve could put the company foolish enough to play that game in the ground over night.

I have never thought PayPal represents the ethos of OUR bitcoin community, and BitCoin threatens PayPal for sure.  So it is in PP's best interest to find exactly the way that they can make the most money out of providing services around Bitcoin as well as using it for their own settlement purposes.

Censorship resistance means exactly that for everyone.

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[eddie13]

I’m thinking about not selling any coin until 1 year after the NEXT halving..

I think I can maintain continuing to be poor and wageslave for another 4 years..

I don’t even want a massive cat sailboat like that.. I could buy the sailboat I want for about 1btc right now..
But I also need many years worth of “fuck you, I’m onna boat” money..
How cheap is food in South America exactly?

[cygan]

love this picture!!!


https://twitter.com/danheld/status/1330904204827893761

[DaRude]

https://twitter.com/AutismCapital/status/1330920515393916928

"CEO says early next year they will allow Crypto (currently: BTC, ETH, BCH, LTC) to be used as a funding source for any of their 28 million merchants. This addresses the “no utility” objection many retailers have about Crypto."

Still nice, but paper BTC derivative != real BTC

Doesn't help utility until they start accepting BTC deposits which i foresee to be their next step. They created their paper btc walled garden, and before anyone can sell their btc notes they must first buy them, this is squeezing the supply so next logical step is to let people deposit & convert their real BTC for PayPal BTC derivative sort of like GBTC fund

Folks are saying their NY license absolutely requires them to own 1BTC for every 1BTC they sell via their app.  This would preclude them being a fractional reserve via synthetic bitcoin would it not?

My position on this has been simple from the beginning.  Bitcoin does not care who owns it.  It does not care how people do business with it.  It does not care if your use is legal, or regulated, or not.  It does not care if you are an African merchant, or a commercial bank, or a teenage girl, or the worlds largest payment processor.  Any of these can use it to whatever extent they choose.  It does care (so to speak) about people who try to do a rope-a-dope and route around it's consensus.  The first really BIG rush on a fractional reserve could put the company foolish enough to play that game in the ground over night.

I have never thought PayPal represents the ethos of OUR bitcoin community, and BitCoin threatens PayPal for sure.  So it is in PP's best interest to find exactly the way that they can make the most money out of providing services around Bitcoin as well as using it for their own settlement purposes.

Censorship resistance means exactly that for everyone.

Idealistically i'd prefer everyone to be their own bank, but realistically i realize that it's not attainable nor really warranted. With great power comes great responsibility so to speak, and there are a lot of people who're not ready nor want that kind of responsibility. We should educate the population of their options and constantly improve UX but my gramma shouldn't choose between not having BTC at all, and having to punch out her 24 seed words from her coldcard on a stainless steel plates inside a faraday casge and then coming up with some ingenious multisig inheritance plans. Sort of like cash and gold, some people prefer to self custody them in safes/under their mattresses , and some prefer to deposit it with a bank. The second best option to everyone being their own bank, is for everyone who wants can be their own bank. I know i've lost few BTC due to my stupidity, I can't imagine what people who constantly forget where they parked would do.

As far as PayPal, there's a difference between them being the other side to their BTC transactions and running a fractional reserve. The former, where they don't really purchase the BTC on the market and just show you the balance, in essence means they're taking a huge short position on BTC. I can't imagine that happening and them being a public company would surely require them to disclose such exposure on their balance sheets. The latter where they buy BTC but then lend it out to someone is more realistic but also risky and would have to be disclosed. BTC is not their core business, if they do lend it out they're insuring it with their own $250B market cap as they just can't loose your BTC in a boating accident without whole company going bankrupt.

tl;dr it's not a good idea to force your grammy into a Faraday cage, and overall it's net positive for people to get their first exposure to BTC through PayPal, expecting PayPal to enable BTC deposits next, and then enable transfers out their "paper BTC" to other walled gardens like cash app, robinhood wallet, wechat wallet, tencent wallet, yandex wallet, Africa wallet, Europe wallet, every other country wallet etc... Of course all settlements between those walled gardens would have to be with real BTC on lightning  

[Wekkel]

I think I can maintain continuing to be poor and wageslave for another 4 years..

Thinking about the same.

But don’t want to miss the grand cycle either (selling at a major top and getting back in lower).

[HairyMaclairy]

There is a clever phishing email pretending to be from Ledger going around right now.

Don’t get caught out.  

[HairyMaclairy]

I think I can maintain continuing to be poor and wageslave for another 4 years..

Thinking about the same.

But don’t want to miss the grand cycle either (selling at a major top and getting back in lower).

Think of it this way:   Only sell at a level that you would be happy to keep the fiat and only buy back in when the price of Bitcoin becomes irresistibly low.  

If you don’t know what those numbers would be right now, then you better figure that out now.  If you leave it to decide in the heat of the moment, you will make the wrong decision. 

[explorer]

I think I can maintain continuing to be poor and wageslave for another 4 years..

Thinking about the same.

But don’t want to miss the grand cycle either (selling at a major top and getting back in lower).

Think of it this way:   Only sell at a level that you would be happy to keep the fiat and only buy back in when the price of Bitcoin becomes irresistibly low.  

If you don’t know what those numbers would be right now, then you better figure that out now.  If you leave it to decide in the heat of the moment, you will make the wrong decision. 

+5 WOsMerit

Don't sell more than you'd be happy to spend and not look back.  You are (most of us) gambling with your lifesavings.

[xhomerx10]

I’m thinking about not selling any coin until 1 year after the NEXT halving..

I think I can maintain continuing to be poor and wageslave for another 4 years..

I don’t even want a massive cat sailboat like that.. I could buy the sailboat I want for about 1btc right now..
But I also need many years worth of “fuck you, I’m onna boat” money..
How cheap is food in South America exactly?

 Considering they're now engaged in a war against obesity, I would say food is cheap and plentiful (but not necessarily nutritious?).   North America really screwed over Bolivia and Peru on the price of what used to be a staple for them - quinoa.  It became the latest and greatest superfood here and unaffordable there.  We are such inconsiderate bastards; it's no wonder the rest of the free world hates us.

[serveria.com]

I think I can maintain continuing to be poor and wageslave for another 4 years..

Thinking about the same.

But don’t want to miss the grand cycle either (selling at a major top and getting back in lower).

Was considering the same but.... There was a good post on this by 600watt if my memory serves me well... in short, his assumption was there might be no ~80-85% dump anymore after a blow-off top. So hodlers who would sell right into the fake dump won't have an opportunity to rebuy back lower, instead the price will continue to rise...  so I'm not so sure anymore...    

[fillippone]

https://twitter.com/blockbain/status/1326220035187216390?s=20

Hey @Last of the V8s, are you ok?
11 days without WO?

[explorer]

https://twitter.com/blockbain/status/1326220035187216390?s=20

Hey @Last of the V8s, are you ok?
11 days without WO?

He's out revving that V8.  Gone mobile (account)

[kellrobinson]

Don't sell below $64,558

What's wrong about $64,548? Asking for a friend.

That would be playing with fire.

[eddie13]

I think I can maintain continuing to be poor and wageslave for another 4 years..

Thinking about the same.

But don’t want to miss the grand cycle either (selling at a major top and getting back in lower).

Think of it this way:   Only sell at a level that you would be happy to keep the fiat and only buy back in when the price of Bitcoin becomes irresistibly low.  

If you don’t know what those numbers would be right now, then you better figure that out now.  If you leave it to decide in the heat of the moment, you will make the wrong decision. 

At $250k BTC I’d be pretty tempted to set myself up pretty nice, but would still probably only sell like half..
Buy back? Idk.. this is probably the last chance to ever buy under $20k..
Next bottom imo, after blowoff top around 300.. About $60k..

But why not just hold through it again?

[cAPSLOCK]

Really needs to bounce right here 18289 Or I think we extend the pullback.  Which would be no biggy.

[explorer]

Really needs to bounce right here 18289 Or I think we extend the pullback.  Which would be no biggy.

I'm giving it a little more space.  We are strike distance from ATH any time this week.  Anything above 17500 (and rising) I'll call sideways.

[nutildah]

https://twitter.com/blockbain/status/1326220035187216390?s=20

Hey @Last of the V8s, are you ok?
11 days without WO?

Maybe he was embarrassed from posting such a bad meme.

[JayJuanGee]

Anyone else buying dip, or is it just me ?

It's just you.

 

I was wondering what happened to jbreher.. and there he is, hiding in plain sight.

Who would-a-thunk?

Anyone else buying dip, or is it just me ?

Been buying every week on & off since mid 2014. Spent £600 on the ol’ corn last week. I tell myself that I’m done buying all the time but I always slip back. Bitcoin is like a drug to me!

You must be richie.

Edited:

jbreher hitting a new low.  on second thought, pushing drugs might still be better than pushing BSv scam, good for him for moving on up

DaRude beat me to it, I see.

I’m thinking about not selling any coin until 1 year after the NEXT halving..

I think I can maintain continuing to be poor and wageslave for another 4 years..

I don’t even want a massive cat sailboat like that.. I could buy the sailboat I want for about 1btc right now..
But I also need many years worth of “fuck you, I’m onna boat” money..
How cheap is food in South America exactly?

Could be reasonable to wait for one more halvening before selling any BTC. and yeah, one year after the next halvening would be a little more than 4 years from now.. close to 4.5 years from now.

[sirazimuth]

I was just thinking...
Nice seeing lots of new faces migrating to the wob.
OG'S  be on your best behaviour. (yeah, that's a memo to myself too.)
I do believe in the coming months/years  this thread is going to become the main goto
for all the new folks piling in as Bitcoin and this thread continues its epic journey.

[JayJuanGee]

https://twitter.com/blockbain/status/1326220035187216390?s=20

Hey @Last of the V8s, are you ok?
11 days without WO?

Maybe he was embarrassed from posting such a bad meme.

Don't you guys know nuttin?

Just a couple of days ago, he said he would be gone for some weeks or maybe some months...

Here's the post:

think i will have given Jimbo conniptions at how badly that limerick scanned.
if i'd known how easy a mark eddie is, i'd have said "pogtfo".
yes yes nully your jokes are funny and some of us read your oeuvre even if we don't feedback you seemingly enough.
https://bitcointalk.org/index.php?topic=178336.msg55645966#msg55645966
https://bitcointalk.org/index.php?topic=178336.msg55647394#msg55647394
probably need a merit
i'm off on a wander. back in a couple of weeks, or months not sure. have fun and be good