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

[acquafredda]

Good morning Bitcoinland.

On and on and on it goes, $3xxxx range... currently $33633USD/$42985CAD (Bitcoinaverage).

Even the little Elon Musk rally was just part of the bigger $3xxxx consolidation.

Patience. Go Bitcoin go.

I decided to become part of your team.

Team? We're not a team.

How demeaning. We're individuals.

Self-Sovereign Individuals

[El duderino_]

[SiNeReiNZzz]

Fuck gamestop in the arse, they always tried to scam me as a kid when I bought a few games, some I didn't even play, and they offered me like 10% only for me to come back in a few days and see they sold it at 90%.

Fuck 'em!

Absolutely right my friend. That's exactly how I have this store in my head.
But with overpriced store locations, mostly at the main station of a city, that's no wonder.

[BobLawblaw]

I don't want to sound like a huge faggot or anything, but got bored and decided to buy 100oz or so of physical silver off <internet.site>

Let's get back to crashing the economy. I'm trying to do my small part.

[Biodom]

I don't want to sound like a huge faggot or anything, but got bored and decided to buy 100oz or so of physical silver off <internet.site>

Let's get back to crashing the economy. I'm trying to do my small part.

that buying is not very easy to do...premiums spiked and some sites are in maintenance mode.

[Torque]

I don't want to sound like a huge faggot or anything, but got bored and decided to buy 100oz or so of physical silver off <internet.site>

Let's get back to crashing the economy. I'm trying to do my small part.

I bought the majority of my silver (~400-ish ounces) between 2014-2016, when nobody wanted it.

Also picked up a couple 1 oz gold coins for between $1200-$1300 each during the same timeframe.

#winning

"Buy an asset when nobody wants it, not when everybody wants it." -Me

[Tash]

I don't want to sound like a huge faggot or anything, but got bored and decided to buy 100oz or so of physical silver off <internet.site>

Let's get back to crashing the economy. I'm trying to do my small part.

Buying some junk silver will not crash any economy.
Depending on location but Silver is one if the biggest money trap there is. It has to rise 25% before any profit.
Gold in most places does not have the tax burden to deal with but still happily sold last piece last year. 
Commodities is so last century, even toiled paper is abetter investment because its needed, no-one needs a silver spoon.

[rolling]

I don't want to sound like a huge faggot or anything, but got bored and decided to buy 100oz or so of physical silver off <internet.site>

Let's get back to crashing the economy. I'm trying to do my small part.

Buying some junk silver will not crash any economy.
Depending on location but Silver is one if the biggest money trap there is. It has to rise 25% before any profit.
Gold in most places does not have the tax burden to deal with but still happily sold last piece last year. 
Commodities is so last century, even toiled paper is abetter investment because its needed, no-one needs a silver spoon.

Silver does seem like a silly target to crash the economy plus the drama of Gamestop isn't over yet. If people lose focus too early, the sqeeeeeze might not take place. One target at a time. It will take every penny to make it happen.

[nanobtc]

Three millionth user
You'll do better here if you
brush up on haiku

[Biodom]

I don't want to sound like a huge faggot or anything, but got bored and decided to buy 100oz or so of physical silver off <internet.site>

Let's get back to crashing the economy. I'm trying to do my small part.

Buying some junk silver will not crash any economy.
Depending on location but Silver is one if the biggest money trap there is. It has to rise 25% before any profit.
Gold in most places does not have the tax burden to deal with but still happily sold last piece last year. 
Commodities is so last century, even toiled paper is abetter investment because its needed, no-one needs a silver spoon.

Silver does seem like a silly target to crash the economy plus the drama of Gamestop isn't over yet. If people lose focus too early, the sqeeeeeze might not take place. One target at a time. It will take every penny to make it happen.

somebody described it as a "rage against the machine". How likely is that it would be concentrated on one stock?
That said, are we the establishment now? I doubt it, but as of right now s-coins like zerp and doggie are in the lead (for today only).
Are things about to get wild with Ag? Sorry, I am not going to lug some bricks.

[savetherainforest]

I don't want to sound like a huge faggot or anything, but got bored and decided to buy 100oz or so of physical silver off <internet.site>

Let's get back to crashing the economy. I'm trying to do my small part.

U should learn jewelcrafting and cast u'r own trinkets!    

*edit: Also you can cast them on New Moons & Full Moons. For better energy potential of their vibration!


*Edit(2): Meanwhile in Dodgelandia....   

[DaRude]

RobinHood allows you to buy btc (and other cryptocurrencies), but you can't move it out. This could cause legitimate worries about all btc on RH being just paper IOUs.

So a number of btc newbies have some (paper?) btc on RH, and now they want to get it out of a likely sinking boat. The only option they have is sell now (taxable event, ouch!), get the money out (RH does allow you withdraw $$, duh!), keep aside the taxman's share (ouch again), send the money to some "normal" exchange, get less btc than you used to have (boo-ho!), transfer that to a wallet you control (your own keys: it's finally been turned into your bitcoin, win!).

I've got two questions - food for thought.

1) How many newbies are going to jump through the multiple hoops?

2) What if many actually do? There are likely consequences for RobinHood: assuming they never actually bought the backing crypto, they'd be under by a lot. Just think of the doge bull. I could care less about them, though. What happens to the price when a shitload of redditors sell at the same time?

TL;DR RH is really throwing shit at anyone trying to go against the system - either people who try to punish asshole over-100%-shorting hedge funds, or people who buy btc (or doge in recent days, well you know, newbies!). I wish RobinHood went out of business. Which isn't totally unlikely as a result of the latest shenanigans.

Are you sure about that? Wouldn't swapping paper BTC for real BTC fall under a wash rule for 'murikans?

The rule defines a wash sale as one that occurs when an individual sells or trades a security at a loss and, within 30 days before or after this sale, buys a "substantially identical" stock or security, or acquires a contract or option to do so.

https://www.investopedia.com/terms/w/washsalerule.asp

[Biodom]

RobinHood allows you to buy btc (and other cryptocurrencies), but you can't move it out. This could cause legitimate worries about all btc on RH being just paper IOUs.

So a number of btc newbies have some (paper?) btc on RH, and now they want to get it out of a likely sinking boat. The only option they have is sell now (taxable event, ouch!), get the money out (RH does allow you withdraw $$, duh!), keep aside the taxman's share (ouch again), send the money to some "normal" exchange, get less btc than you used to have (boo-ho!), transfer that to a wallet you control (your own keys: it's finally been turned into your bitcoin, win!).

I've got two questions - food for thought.

1) How many newbies are going to jump through the multiple hoops?

2) What if many actually do? There are likely consequences for RobinHood: assuming they never actually bought the backing crypto, they'd be under by a lot. Just think of the doge bull. I could care less about them, though. What happens to the price when a shitload of redditors sell at the same time?

TL;DR RH is really throwing shit at anyone trying to go against the system - either people who try to punish asshole over-100%-shorting hedge funds, or people who buy btc (or doge in recent days, well you know, newbies!). I wish RobinHood went out of business. Which isn't totally unlikely as a result of the latest shenanigans.

Are you sure about that? Wouldn't swapping paper BTC for real BTC fall under a wash rule for 'murikans?

The rule defines a wash sale as one that occurs when an individual sells or trades a security at a loss and, within 30 days before or after this sale, buys a "substantially identical" stock or security, or acquires a contract or option to do so.

https://www.investopedia.com/terms/w/washsalerule.asp

there is no wash sale (theoretically) in bitcoin since it is not a stock or security. In fact, it looked like IRS allowed for LIFO, FIFO and specific batches for base price determination, imho.

[Torque]

I don't want to sound like a huge faggot or anything, but got bored and decided to buy 100oz or so of physical silver off <internet.site>

Let's get back to crashing the economy. I'm trying to do my small part.

Buying some junk silver will not crash any economy.
Depending on location but Silver is one if the biggest money trap there is. It has to rise 25% before any profit.
Gold in most places does not have the tax burden to deal with but still happily sold last piece last year.  
Commodities is so last century, even toiled paper is abetter investment because its needed, no-one needs a silver spoon.

Silver does seem like a silly target to crash the economy plus the drama of Gamestop isn't over yet. If people lose focus too early, the sqeeeeeze might not take place. One target at a time. It will take every penny to make it happen.

This, this, and this.

1. The WSB/ RH crowd is getting deliberately baited away from GME and onto something else (in this case, silver) in order to dilute their strength and resolve.

2. Anyone thinking that silver can actually be "squeezed" by worldwide retail buying power needs to do more research. TL/DR; it can't. It's not even remotely the same as the GME situation.

3. The fact that it can't be squoze, is precisely why the establishment traders are luring dumb money there and away from GME.

4. Just read that Citadel is the 5th largest holder of SLV. That means they will dump their SLV on any significant pump to cover any losses on GME, or for any new capital needed.

[DaRude]

So what happens when WSBers realize that they can go the other way and also short a company over 100% into a bankruptcy? Are corporate raids/hostile takeovers next?

So what happens when DaRude realizes he can break bad and start making meth, robbing banks and pushing grandmothers under buses?  Is a crime wave next?

Realizes? Wayyy ahead of you

[OutOfMemory]

I don't want to sound like a huge faggot or anything, but got bored and decided to buy 100oz or so of physical silver off <internet.site>

Let's get back to crashing the economy. I'm trying to do my small part.

Buying some junk silver will not crash any economy.
Depending on location but Silver is one if the biggest money trap there is. It has to rise 25% before any profit.
Gold in most places does not have the tax burden to deal with but still happily sold last piece last year.  
Commodities is so last century, even toiled paper is abetter investment because its needed, no-one needs a silver spoon.

Silver does seem like a silly target to crash the economy plus the drama of Gamestop isn't over yet. If people lose focus too early, the sqeeeeeze might not take place. One target at a time. It will take every penny to make it happen.

This, this, and this.

1. The WSB/ RH crowd is getting deliberately baited away from GME and onto something else (in this case, silver) in order to dilute their strength and resolve.

2. Anyone thinking that silver can actually be "squeezed" by worldwide retail buying power needs to do more research. TL/DR; it can't. It's not even remotely the same as the GME situation.

3. The fact that it can't be squoze, is precisely why the establishment traders are luring dumb money there and away from GME.

4. Just read that Citadel is the 5th largest holder of SLV. That means they will dump their SLV on any significant pump to cover any losses on GME, or for any new capital needed.

There will be weak hands. Also because there are some "myths" out there.

1. Planned sell at $1000 (because WSB members said GME should be pumped to $1000, which RH and co. defeated)

2. Some won't risk their profit for a short squeeze "probability"

3. FUD and misinformation, like SLV SS, WSB may crash economy (only wallstreet is allowed to crash markets, remember?)

4. some other things i did not read about yet...

As a fact, you can read the posts of the weak hands on reddit and staff/core members of WSB try heavily to teach people to hold over the next week AT LEAST.
Let's hope enough people show some sanity and TRUST to keep this thing rolling. Let's hope the system does not let the hedgefuckers escape or enable them to recover by causing damage to other parts of markets.
Let's hope there will be politics without corruption one day.

[BobLawblaw]

It has to rise 25% before any profit.

Profit ? Who is talking about profit ?

I'm not.

I'm in it for the chicken tendies and cocaine dipping sauce, to be honest.

Going full retard, playing my half of the part of "eccentric interracial gay couple". So what if I lose some money here and there. It's just money. Billionaires are bleeding out and about to commit sudoku on a scale not seen since The Great Depression.

Keep your eye on the prize.

If people lose focus too early, the sqeeeeeze might not take place. One target at a time. It will take every penny to make it happen.

Fuck you, man.

Carpet bombing.

Hit multiple targets at once.

Don't you dare tell me how to waste my money.

[Biodom]

A thought occured-WSB is becoming a decentralized or rather hive-mind hedge fund with at least $50 bil in capital (10mil members, 8 subcribers and at least a quarter of that -lurkers) soon to be $65-70bil once the "members" get a new stimmy. It is unclear where that hive-mind would turn it attention to.

Re trying to get attention off of GME-maybe, but afaik, it ain't working (so far).
honestly, longing from here into GME does not make sense, that ship has sailed, unless super-covering occurs. Maybe 30% chance.

Other venues seem to be more amenable to money-making.
Again, i don't see any short term benefit in all of this to bitcoin. Later on-maybe when frustrated masses fall in.

EDIT:

It has to rise 25% before any profit.

Profit ? Who is talking about profit ?

I'm not.

...Billionaires are bleeding out and about to commit sudoku on a scale not seen since The Great Depression.

Keep your eye on the prize.
...

seppuku?

...ducks

[Paashaas]

https://twitter.com/TFMetals/status/1355622245868199937

[BobLawblaw]

seppuku?

Nah, man. That's honorable folk killing themselves with a sword into their gut. We are not dealing with honorable people.

These folk are dooming themselves to a hellish future of being unable to stop working on number puzzles.

It's called irony, it's French, and is culturally acceptable.