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Question: When will BTC get back above $70K:
7/14 - 0 (0%)
7/21 - 1 (1%)
7/28 - 11 (10.6%)
8/4 - 16 (15.4%)
8/11 - 7 (6.7%)
8/18 - 6 (5.8%)
8/25 - 7 (6.7%)
After August - 56 (53.8%)
Total Voters: 104

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26461349 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (174 posts by 3 users with 9 merit deleted.)
d_eddie
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January 31, 2021, 09:57:32 PM

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?
Quote
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
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January 31, 2021, 10:03:52 PM

funds shorting silver
The economy is failing
Bob's grumpy again
Elwar
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January 31, 2021, 10:08:14 PM

Is this the end of Bitcoin?

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

 Cry
DaRude
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January 31, 2021, 10:08:27 PM

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?
Quote
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
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January 31, 2021, 10:13:02 PM
Last edit: January 31, 2021, 10:25:41 PM by OutOfMemory

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

Quote
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
d_eddie
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January 31, 2021, 10:15:22 PM


I'd already seen and read this page while researching the latest GME updates.

I think it's a recent addition, but I see the gentleman over there added a "subscribe" button. He says it is so I can receive a heads up when the squeeze begins to be squoze. OK, so I put in my email addy and... no, we don't like throwaway addresses. I tried several to no avail. I had to insert a (fake) gmail address to make it say "allright". Apparently, the jerk is looking for spam pastures.
d_eddie
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January 31, 2021, 10:18:01 PM

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

That's right. I only noticed after replying to your post. It happens a lot to me when in catch up mode. Sorry for the useless repetition.
xhomerx10
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January 31, 2021, 10:25:20 PM
Merited by El duderino_ (2), Torque (1), LFC_Bitcoin (1), serveria.com (1)

   
Want!

serveria.com
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January 31, 2021, 10:36:13 PM

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

Quote
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

Just read the comments on Twitter: peeps are shilling Doge and similar shitcoins like there's no tomorrow.  Grin
Toxic2040
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January 31, 2021, 10:38:17 PM

   
Want!



+1 WOsMerits


----

1h

#stronghands



-----

Mr Musk doing some Apple thing tonight.  Hope he announces he is finally accepting bitcoin for Tesla's.   Grin

https://twitter.com/elonmusk/status/1355983231988862978
OutOfMemory
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January 31, 2021, 10:42:13 PM

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

Quote
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

Just read the comments on Twitter: peeps are shilling Doge and similar shitcoins like there's no tomorrow.  Grin

Don't care about them shills, but is this actually a number? 48k BTC i read were sent to exchanges last month alone, according to twitter source. Didn't check the stats yet by myself.
serveria.com
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January 31, 2021, 10:46:08 PM

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

Quote
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

Just read the comments on Twitter: peeps are shilling Doge and similar shitcoins like there's no tomorrow.  Grin

Don't care about them shills, but is this actually a number? 48k BTC i read were sent to exchanges last month alone, according to twitter source. Didn't check the stats yet by myself.

That's an amount for ants. And why it's considered to be bearish? Moving BTC to cold wallets is bullish imho..  Cool
OutOfMemory
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January 31, 2021, 10:50:38 PM

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

Quote
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

Just read the comments on Twitter: peeps are shilling Doge and similar shitcoins like there's no tomorrow.  Grin

Don't care about them shills, but is this actually a number? 48k BTC i read were sent to exchanges last month alone, according to twitter source. Didn't check the stats yet by myself.

That's an amount for ants. And why it's considered to be bearish? Moving BTC to cold wallets is bullish imho..  Cool

With about 1.5m BTC total on exchanges, this is a small amount.
What i see from the above graph is that price is inverse related to exchange reserve. Reserve shortage seems to front run price climbs, so t should be bullish imo.
I don't get why (some) BTC bulls interpret that as a bearish signal.

EDIT: Compare with viewbase graph from Jan. 2nd, where the price pumped on the 3rd. Also similar amounts of coins left exchanges back then.
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January 31, 2021, 11:13:05 PM
Merited by BobLawblaw (2)



https://www.youtube.com/watch?v=Dfvv6LSt-bs
OutOfMemory
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February 01, 2021, 12:27:47 AM
Merited by JayJuanGee (1)

dips look attractive
but when you're out of money
then they look ugly

#hodlsleephaiku
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February 01, 2021, 01:00:49 AM

Totally of topic.

https://www.bitchute.com/video/LOY47OYGEcck/
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February 01, 2021, 01:15:04 AM

evening wall charts

#dyor

D


W


M

#stronghands
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February 01, 2021, 01:56:55 AM
Merited by El duderino_ (11), Torque (1), BobLawblaw (1), smartcomet (1)

JayJuanGee
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February 01, 2021, 03:12:15 AM
Last edit: February 01, 2021, 04:07:00 AM by JayJuanGee
Merited by El duderino_ (2)

If you participate well, then indeed thus thread is one of the best and is a large part of bitcoin history

Welcome and take care
Finally I see the answer I wanted to get! Yes, I republished my post after I woke up thinking it got lost in a bunch of memes. Some I see are quite aggressive, they probably also want a cool ID for themselves.  Grin

- Is anyone here from Milan?

Yes and you are a newbie.. so hopefully you will attempt to learn how to contribute rather than to analyze with incomplete information... few peeps want to be analyzed.. especially by a newbie...  unless such analysis has some meaning, humor or something beyond trying to look smartie pants or appear like begging for merits.

Still waiting for something meaningful to come out of your keyboard.

waiting

waiting

Down over 1200 in about 2 hours and still going... We're used to worse but I prefer to see it go up 1200 in about 2 hours nonetheless, instead of the other way around...

The whole market's a bit of a mystery to me atm, anyone cares to share his TA?

As for FA, I haven't got any clue at all... Saying these are very strange times is about as far as I'll get.

We had nearly 4 months of continuous UP.. so what's wrong with one month of down and sideways and back up.. and wherever we are going to go from here?  I don't see any problem with the current place where BTC prices happen to be bouncing around.

There might not even be anything to analyze, exactly, except that the BTC price is taking a kind of pause from the nearly 4 months of UP, which happened to be around 4x... why not pause from there?

Whether such pause continues for 4 to 8 months or it continues back UPpity in a week or two, how are we going to know? It's not as if in the past that we have ever know the future BTC price performance, but we can see it happen once it does happen, but beforehand, we never really know if it is going to go UP or DOWN in the short term.. so in that regard, there seems to be nothing to see, here.

Wake me up when we break outside of the current price range.  What is it?  Perhaps $23.5k to $40k?  We going to get excited within such current price range, or are we gong to get excited once the price starts to get to the upper or the lower ends of the range?  or if it breaks outside of the range, then of course, we should have reasons to get excited.  Until then?  yawn... just play it.  Play it.. If the price goes up.. sell a bit, and if the price goes down buy with the money that you had gained from selling.. and maybe that would allow for stacking of sats or otherwise, just continue to buy if you feel like you need more bitcoin.

Down over 1200 in about 2 hours and still going... We're used to worse but I prefer to see it go up 1200 in about 2 hours nonetheless, instead of the other way around...

The whole market's a bit of a mystery to me atm, anyone cares to share his TA?

As for FA, I haven't got any clue at all... Saying these are very strange times is about as far as I'll get.

Never mind these temporary bollocks, friends1980. Michael keeps buying behind the curtains. Elon is onboard because it's inevitable. The corporate world is coming about, seeing btc more and more as the store of value it is.


Where's the world going?
The future looks uncertain.
Look up to the moon.
#haiku

You are surely sounding optimistic these days, d_eddie... as compared to when we were in the $6ks in 2018 and you seemed to be wondering if we were ever going to make it above $12k again..

My how times have changed!!!!!!   Wink

 Cheesy Cheesy Cheesy Cheesy
savetherainforest
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February 01, 2021, 04:10:23 AM


Still waiting for something meaningful to come out of your keyboard.

waiting

waiting



Woof! Woof! ... Cheesy Cheesy
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