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

[Biodom]

What's up with Coinbase ...again?

Bitcoinity's still showing trades.

https://bitcoinity.org/markets/coinbase/USD

it was down, but recovered.
https://www.reddit.com/r/Bitcoin/comments/ka4v1m/coinbase_down_again_must_be_about_to_pump/

[1714065318]

1714065318

[1714065318]

1714065318

[cAPSLOCK]

https://twitter.com/WarrenDavidson/status/1336804544320327683

[cAPSLOCK]

1.  I think we are about to see a big ass run on the exchanges.
2.  Some exchanges will be shown to be swimming naked when the tide rolls out.
3.  This will hurt bitcoins reputation in the immediate term.
4.  Then people will begin to realize how important bitcoin is, and how many coins ARE NOT actually for sale.
5.  The recent large transfers to exchanges as well as record miner outflows are an effort to head off the inevitable...



Weeeeeee

[cAPSLOCK]

But at the same time the dude GETS bitcoin.  

Clearly he does not. He just called censorship-resistance and privacy "bad ideas."

And he is right about the bit with trusted layer two like Square.  And lightning is a hobbyist platform today.  Square/CashApp is an actual working product people use.  And before you sling at me too hard... I run 2 lighting nodes.

He's wrong about LN as it is not a competitor of PayPal and Square! It was not developed for that purpose, and its not a centralized entity, much less a corporation. His comparison of LN with the other two is farcical at best and reflects an extremely poor understanding of bitcoin at worst.

Were just gonna disagree on this one.  I see some 3D chess.  I think there is 0% chance he gets why bitcoin is a good place to park a billion dollars, but does not realize censorship resistance is a key reason.  In fact he's made that exact argument several times.

So why, then, would he say the thing he said?

Occam's razor.  It's not even really 3D or Chess...  It's checkers really.

[HI-TEC99]

1.  I think we are about to see a big ass run on the exchanges.
2.  Some exchanges will be shown to be swimming naked when the ride rolls out.
3.  This will hurt bitcoins reputation in the immediate term.
4.  Then people will begin to realize how important bitcoin is, and how many coins ARE NOT actually for sale.
5.  The recent large transfers to exchanges as well as record miner outflows are an effort to head off the inevitable...

Where did you find that letter, who reported it?

[cAPSLOCK]

1.  I think we are about to see a big ass run on the exchanges.
2.  Some exchanges will be shown to be swimming naked when the ride rolls out.
3.  This will hurt bitcoins reputation in the immediate term.
4.  Then people will begin to realize how important bitcoin is, and how many coins ARE NOT actually for sale.
5.  The recent large transfers to exchanges as well as record miner outflows are an effort to head off the inevitable...

Where did you find that letter, who reported it?

Added a sauce, thanks.


Got it from the horse's mouth:
https://twitter.com/WarrenDavidson/status/1336804544320327683

[HI-TEC99]

1.  I think we are about to see a big ass run on the exchanges.
2.  Some exchanges will be shown to be swimming naked when the ride rolls out.
3.  This will hurt bitcoins reputation in the immediate term.
4.  Then people will begin to realize how important bitcoin is, and how many coins ARE NOT actually for sale.
5.  The recent large transfers to exchanges as well as record miner outflows are an effort to head off the inevitable...

Where did you find that letter, who reported it?

Added a sauce, thanks.


Got it from the horse's mouth:
https://twitter.com/WarrenDavidson/status/1336804544320327683

I found this story about it.

https://cointelegraph.com/news/congresspeople-tell-treasury-to-back-off-of-rumored-self-hosted-wallet-ban

It gives this link to the letter.

https://beta.documentcloud.org/documents/20421966-davidson-letter-to-mnuchin

And this pdf version.

https://assets.documentcloud.org/documents/20421966/davidson-letter-to-mnuchin.pdf

[cAPSLOCK]

1.  I think we are about to see a big ass run on the exchanges.
2.  Some exchanges will be shown to be swimming naked when the ride rolls out.
3.  This will hurt bitcoins reputation in the immediate term.
4.  Then people will begin to realize how important bitcoin is, and how many coins ARE NOT actually for sale.
5.  The recent large transfers to exchanges as well as record miner outflows are an effort to head off the inevitable...

Where did you find that letter, who reported it?

Added a sauce, thanks.


Got it from the horse's mouth:
https://twitter.com/WarrenDavidson/status/1336804544320327683

I found this story about it.

https://cointelegraph.com/news/congresspeople-tell-treasury-to-back-off-of-rumored-self-hosted-wallet-ban

It gives this link to the letter.

https://beta.documentcloud.org/documents/20421966-davidson-letter-to-mnuchin

I am proud of my home boy Ted Budd.  Hes a little younger than me but not by much and we grew up in the same city...  Never knew him... but just the proximity means hes a good guy.

[infofront]

But at the same time the dude GETS bitcoin.  

Clearly he does not. He just called censorship-resistance and privacy "bad ideas."

And he is right about the bit with trusted layer two like Square.  And lightning is a hobbyist platform today.  Square/CashApp is an actual working product people use.  And before you sling at me too hard... I run 2 lighting nodes.

He's wrong about LN as it is not a competitor of PayPal and Square! It was not developed for that purpose, and its not a centralized entity, much less a corporation. His comparison of LN with the other two is farcical at best and reflects an extremely poor understanding of bitcoin at worst.

Were just gonna disagree on this one.  I see some 3D chess.  I think there is 0% chance he gets why bitcoin is a good place to park a billion dollars, but does not realize censorship resistance is a key reason.  In fact he's made that exact argument several times.

So why, then, would he say the thing he said?

Occam's razor.  It's not even really 3D or Chess...  It's checkers really.

The Michael Saylor quote is being taken out of context. He's arguing that bitcoin needs to be portrayed differently to bring in more of the traditional Wall Street bankers.

[cAPSLOCK]

But at the same time the dude GETS bitcoin. 

Clearly he does not. He just called censorship-resistance and privacy "bad ideas."

And he is right about the bit with trusted layer two like Square.  And lightning is a hobbyist platform today.  Square/CashApp is an actual working product people use.  And before you sling at me too hard... I run 2 lighting nodes.

He's wrong about LN as it is not a competitor of PayPal and Square! It was not developed for that purpose, and its not a centralized entity, much less a corporation. His comparison of LN with the other two is farcical at best and reflects an extremely poor understanding of bitcoin at worst.

Were just gonna disagree on this one.  I see some 3D chess.  I think there is 0% chance he gets why bitcoin is a good place to park a billion dollars, but does not realize censorship resistance is a key reason.  In fact he's made that exact argument several times.

So why, then, would he say the thing he said?

Occam's razor.  It's not even really 3D or Chess...  It's checkers really.

The Michael Saylor quote is being taken out of context. He's arguing that bitcoin needs to be portrayed differently to bring in more of the traditional Wall Street bankers.

That is even simpler than checkers...

Bitcoin does not care any more about our cypherpunk ideals or dreams of citadels, than it does Peter Schiff's hatred of it, or Michael Saylor's mainstream coddling. 

Every kind of person can use it.  And everyone that stands in it's way will be destroyed.

[nutildah]

Bitcoin does not care any more about our cypherpunk ideals or dreams of citadels, than it does Peter Schiff's hatred of it, or Michael Saylor's mainstream coddling.  

Every kind of person can use it.  And everyone that stands in it's way will be destroyed.

True, hard to argue with that. I just don't like him, and bitcoin doesn't care about that either.

I'm anticipating him attempting to mold bitcoin into what is best for billionaires and pre-emptively hating on him for that. Hopefully he'll prove me wrong.

[JSRAW]

Not buying atm period.....!

You party poop, JSRAW!!!!!  Maybe you should let us know if 4 digits are over yet?  or you don't wanna say anything, bhai.  

Party pooping is your field of expertise bhai  I am just not accumulating at this range because my overall buy average going up drastically for quite some time which i am not comfortable with. May be i am waiting for 20-25% correction and if i dare to guess then your buy orders are set up around same level?

4 digits seems unlikely but i think no one should rule out the doomsday scenario, even if there is 1% chance.

[d_eddie]

We're doomed! The 21M limit will be lifted, because DeFi.
Bullshit is strong with this one.

https://cointelegraph.com/news/the-butterfly-effect-why-defi-will-force-btc-to-break-its-21m-supply-ceiling

[JSRAW]

And happy Thursday jjg

----
edit 

[jojo69]

We're doomed! The 21M limit will be lifted, because DeFi.
Bullshit is strong with this one.

https://cointelegraph.com/news/the-butterfly-effect-why-defi-will-force-btc-to-break-its-21m-supply-ceiling

[nutildah]

We're doomed! The 21M limit will be lifted, because DeFi.
Bullshit is strong with this one.

https://cointelegraph.com/news/the-butterfly-effect-why-defi-will-force-btc-to-break-its-21m-supply-ceiling

The author is the dev of NEO which recently rebranded itself for DeFi (go-to move for flailing shitcoins these days). I hope he had to pay to get that article published.

[DaRude]

What's up with Coinbase ...again?

Wait that's the company that's in the Facebook Libra/Diem Association right? No one knows, seems like you're the only one still using them.



*Mandatory coinbase user reference

[JayJuanGee]

I have been reading the charts from several years but never noticed the bitcoin's buy support like this in the past. So, I decided it worth writing a post in Wall Observer about it.

Marketable securities are mostly undervalued/overvalued depending upon their market price in relation to intrinsic value. Bitcoin in past has been considered overvalued many times. Sometimes, it surges enormously in short-period of time which leads people to believe that bitcoin price is riding on a bubble. And we can't deny that this notion turned out to be true at several occasions like post January, 2018 crash of more than 65%.

But this time it is different. After reaching ATH, it fell down to $16-16.5K range but soon recovered due to huge buy wall and reached new ATH 4 days later. However, it failed to break $20K mark. So, the resistance grew and it once again fell earlier today. But this time, it recovered much before $16.5K, we saw reversal in trend right from $17,800. All this indicates that people by general consensus are assuming that bitcoin's intrinsic value approximately worth $17-17.5K. Whenever, it goes above this range, it is trading at premium but premium is too low to be called bubble. Hence, we can still assume that this is a start of a bullish trend and bigger picture is yet to come.

By the way, received this cute little shill e-mail from Bittrex Global few hours ago:



Haha, what was the last time when a reputed exchange shilled bitcoin like this?

Your attempt to lock bitcoin into some kind of "intrinsic value" framework seems to either fail and refuse to account for current BTC price prediction model and/or attempts to such framework is worth attempting to lock into bitcoin, as if it were a mature asset class.

Sure, we might look at the lines on the stock to flow model and see that bitcoins price goes above and below such price trajectory lines, so perhaps those stock to flow lines could be characterized as estimations of intrinsic value or the price that bitcoin is worth today, approximately.  Perhaps?  Perhaps?

[DaRude]

But at the same time the dude GETS bitcoin. 

Clearly he does not. He just called censorship-resistance and privacy "bad ideas."

And he is right about the bit with trusted layer two like Square.  And lightning is a hobbyist platform today.  Square/CashApp is an actual working product people use.  And before you sling at me too hard... I run 2 lighting nodes.

He's wrong about LN as it is not a competitor of PayPal and Square! It was not developed for that purpose, and its not a centralized entity, much less a corporation. His comparison of LN with the other two is farcical at best and reflects an extremely poor understanding of bitcoin at worst.

Were just gonna disagree on this one.  I see some 3D chess.  I think there is 0% chance he gets why bitcoin is a good place to park a billion dollars, but does not realize censorship resistance is a key reason.  In fact he's made that exact argument several times.

So why, then, would he say the thing he said?

Occam's razor.  It's not even really 3D or Chess...  It's checkers really.

The Michael Saylor quote is being taken out of context. He's arguing that bitcoin needs to be portrayed differently to bring in more of the traditional Wall Street bankers.

That is even simpler than checkers...

Bitcoin does not care any more about our cypherpunk ideals or dreams of citadels, than it does Peter Schiff's hatred of it, or Michael Saylor's mainstream coddling. 

Every kind of person can use it.  And everyone that stands in it's way will be destroyed.

Watch what he does, not what he says

[JayJuanGee]

I just made a few bucks with ETH. Bought the dip. Now I realize its a gigantic pain in the ass to cash out the money I made lol. Anybody know how I can cash out in Turkey to Turkish bank account without being a Turkish citizen? I tried BTCTurk. You can create an account. But can only cash out if you are Turkish citizen lol...

Usually I use Bitstamp. But they dont pay to Turkey.

EDIT: I never traded so far. Only bought and holded. Until today.

Sucks to be you.

Or are you saying that you did not sufficiently plan ahead?

I guess you will have to HODL until there might be some way to sell.... someday, someday, someday..

Or maybe just never sell any bitcoins, ever again...

Just HODL until u  b die  

 

I just made a few bucks with ETH. Bought the dip. Now I realize its a gigantic pain in the ass to cash out the money I made lol. Anybody know how I can cash out in Turkey to Turkish bank account without being a Turkish citizen? I tried BTCTurk. You can create an account. But can only cash out if you are Turkish citizen lol...

Usually I use Bitstamp. But they dont pay to Turkey.

EDIT: I never traded so far. Only bought and holded. Until today.

congrats.
but we tend not to use the "E"-word around here 

I hope you don't "hold" on Bitstamp?

In other words:  Fuck the E-word.