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

[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.

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[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.

[OutOfMemory]

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.

My two cents:
If you did not plan to stick more $$$ into $GME (for whatever reason) it doesn't matter where you put your more $$$.
People are afraid the squeeze would not happen because of distraction and FUD. God knows their motivations.
As long as you put $ into combating hedge-bitches, it's fine as long as it helps to actually reach this target.
Many people point out that buying SLV would help Citadel more than it would hurt them, so it wouldn't be wrong to check up you don't work against your own goals in the end.
Other than that, i doubt anybody would actually dare to tell you how to waste your money.

I sense some more grumpiness in your posts lately.

IT'S OK!

Just don't forget to do yourself something good, man  

[BobLawblaw]

Just don't forget to do yourself something good, man  

Fine. I'll market-buy another 100 shares of $GME tomorrow morning then, because, fuck you, that's why.

 

[Biodom]

I am a bit concerned that the same hedge funds would have to sell "our stuff" to make the ends meet, at least at first.
Later on, markets would flood into bitcoin because it is a free market, at least mostly free.

[Hueristic]

Keep your eye on the prize.

http://isthesqueezesquoze.com/

[Hueristic]

Again, i don't see any short term benefit in all of this to bitcoin. Later on-maybe when frustrated masses fall in.

Every single time it is pointed out to the sheeple how they are being used and abused by the system it is good for Bitcoin.

[OutOfMemory]

Just don't forget to do yourself something good, man  

Fine. I'll market-buy another 100 shares of $GME tomorrow morning then, because, fuck you, that's why.

 

IDC, honestly.
As Arrie said, the enemies of my enemies are my friends.
You already got my respect for joining the game
Oh, yes... and that "rescue Rick from wage slavery"-thing, of course.

I'm in for a whole share tomorrow, because i have yet only market bought fractional positions (which i will hodl forever).
I did hard not to put that $ into BTC on the second dip today, TBH though.

I am a bit concerned that the same hedge funds would have to sell "our stuff" to make the ends meet, at least at first.
Later on, markets would flood into bitcoin because it is a free market, at least mostly free.

First they will sell stonks and physicals. Consequences of WSB movement might be so complex that they may even help wiping themselves from markets, i mean THE  Black Swan event regarding vapor finance. Nobody knows where and when it might end, but a corrupted bullshit system like this should die suffering at some point. That would also be a chance to reset crypto, because they will (at best) suck out all fiat they can from it, until they clear the BTC market and die anyway. Fair conditions for everyone again, except for hodlers, they will still "own" the market, i guess.
"They" believe in fiat so much, that fiat has to be their biggest weakness, somehow. This is a foundation for Black Swan events. Rely on and hold on to a believe that proves false.

[JayJuanGee]

Hey WO, as you can see from my name, I am the 3 millionth user on this beautiful forum, as evidenced by my Custom Title: Yes, really. In the very near future, I am going to study the details of signing and verifying messages using Bitcoin and also want to learn more about PGP. If you think there is something else I should pay attention to, feel free to say.

Having looked through many sections on the forum, I have not found a more interesting thread than this. I love your heated discussions, especially how you combine Bitcoin discussions with memes. Folks, I love your custom hats and I want one for myself, therefore, I firmly decided to become part of your team.

Bitcoin HODL!

Are you just going to repeat this post over and over?

Couldn't be trolling (begging) for merits, right?

Seems to have worked.

I firmly decided to become part of your team.

Fuck off. We're full.

Yeah... we have a full team.   

 

[Phil_S]

24-hour average...

It starting to look a bit similar to mid-2019.

[Biodom]

24-hour average...

It starting to look a bit similar to mid-2019.

Diamond hands ^TM

[Toxic2040]

the Sunday afternoon wall report


The market is a little indecisive as the retail army awaits fallout from the GME assault. Seems like it was all done in mostly good faith. Wall Street is still reeling...thinking this was a moment that will be remembered in history when something changed.
I will admit seeing this unfold...has giving me some comfort for a extremely loyal and downright rowdy crew that has gathered at a Wall. It appears there is nothing illegal if someone is just out in your face public...imagine that.
On to charts...

#dyor

Locally on the 4 hour there is a tight band of consolidation as a weather eye is kept out for stonk waves.



avocado toast is good i hear
D



On a wider view and the weekly chart nothing looks out of whack really...still warm on the RSI but I think some mini wave action over the next few months will straighten it all out by this summer and what I believe will be the start of the runup past a one trillion dollar market cap.

#stronghands


--------

On a personal note..yes..I am not posting as much as I used too. Several factors could be blamed but honestly I am just tired and what I do come up with for posting feels old and worn. Still comfortable like a old pair of pants but nothing you really want to wear out in public. That make any sense?  Anyway..I love you all dearly..this Wall..this refuge...this last bastion of gentlemen who stand guard in the night and say 'not on my watch'...

God bless you all.
tc

[d_eddie]

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

I wasn't thinking of a wash sale to dodge taxes. Quite the opposite: the newbie bitcoiner would have to sell on RH, likely at some profit, and pay taxes on that! That's what I meant by "setting aside the taxman's share": keeping some fiat for the taxes. That's why the soon to be bought substantially identical amount of btc would be a little less.

[Arriemoller]

funds shorting silver
The economy is failing
Bob's grumpy again

[Elwar]

Is this the end of Bitcoin?

Time to shut down the nodes and buy a bunch of FRNs?

 

[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

I wasn't thinking of a wash sale to dodge taxes. Quite the opposite: the newbie bitcoiner would have to sell on RH, likely at some profit, and pay taxes on that! That's what I meant by "setting aside the taxman's share": keeping some fiat for the taxes. That's why the soon to be bought substantially identical amount of btc would be a little less.

Biodom already corrected me, look like wash sale rules wouldn't apply to bitcoin

...

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.

[OutOfMemory]

https://twitter.com/alistairmilne/status/1355950834895433728

A large amount of #BTC
 just left Coinbase
... large amounts leaving nearly all exchanges really

Is it that large, really?

https://www.viewbase.com/coin/bitcoin




Source: https://twitter.com/danny_knight/status/1355962041312272384/photo/1