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

[OutOfMemory]

Witnessing some ants pumping  

EDIT: The 15m looking actually pretty bullish.

EDIT2: $35.500
Now we're talking 

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[Torque]

GME plummeted to ~$81.27 before rising back up again, now at $100. I saw some posts on WSB showing that this was observed during the Volkswagen short squeeze too. Could this be an indicator of anything, or just a dip?

yes  

They shouldn’t wait for that squeeze ever to happen, but demand delivery of the share certificates. That’s what will blow up this whole thing.

wsb more or less says the gme thang may take only few days and physical paper certs would take too long to send and cash out. so hold in electronic form at a broker to cash out post hast if needed.

most seem to be in for the fiat moneyz, not the paradigm shift that btc is. some will understand though.

The most that were in for the fiat money went out for cash (at profit or loss) or switched to the hyped stocks WSB didn't originally even ask to buy (SLV, BB, NOK...).
All the noobs made all the noob mistakes, completely opposed to what WSB advised them to do. Seems like the majority in the game are currently

1. diamond hands (either for the gains or hedge fonds revenge)
2. bag holders that hope to break even
3. institutions riding this wave
4. a small minority not covered in 1-3

I stayed. Same as with BTC. I am at quite a loss now, which i managed to minimize by watching pre-hours trend (-30% already at NYSE open), closed all positions but one share, waited until -30% hit on the market, re-bought with 1/3 of the liquidated amount, observed, re-bought with another third of fiat at -40%, and actually, because i had to leave the house, at -43% again. I will hold the 1 share position forever (this is for you, hedgies) and did not yet decide about the other positions.
Well, i think as long as the price tanks further, i will keep holding. It's not much money, especially when i look at the BTC net worth of mine, but i still had to give up or delay some spendings of my future private life. This is "play money", i don't expect anything in terms of return.
Overshorted hedgefunds can suck my lil boner in the form of my diamond handed GME shares.
I am in for the paradigm shift, the shares are my trophy, and my statement to them. I said from the beginning: Paper hands, GTFO! Let the real dudes continue with the game. One of the best i played in years, honestly.

Well look at it this way... if the WSB crowd can't manage stick it to the shorts, they've got a way to stick it to Uncle Sam.

How? By writing off up to $3K in losses on their taxes this year.  

2 million U.S. degenerate apes X $3,000 == $6 Billion in losses for the IRS.  

[JayJuanGee]

Biodom / Bawb / all,

Hey. Lurker since ..... whenever this account was created back in the day. Not OG, but close enough.

I've actually logged in to my account intermittently to post / ask about this very issue several times since then.

Bawb - if you end up going this route, please post up your experiences.

I look forward to the day I can cash out without having to cash out. That's the dream.

Still hung up on the not your keys, not your coins - but a brother would REALLY like some interest.

Thanks.

Why don't you provide us a bit more of your bitcoin related backstory, Tweak25.. without so much ambiguity?

By the way, we are not puzzle solvers, here... as you likely realize.

 


 

Sofia, the Bulgarian capital, sells bus tickets for BTC and even gives a discount to users of the cryptocurrency.

where's the link?

I thought of you philipma1957 when I dumped my bags, still got heavy bag tho.

To me I hodled it as a Joke.
 
1,000,000 was the peak I had at 0.0025 about $2500.00

fucker kept going up. If my 440,000 coins left get unstuck and I sell 290,000 at 4 cents. 

I will have turned 2500 usd worth into 24,600 In under six months.

I received bags as thank_you_gift from one of my colleague back in 2017, it was my first coin. Now will send him thank you gift.

F U Indian government. F U.  

https://finance.yahoo.com/news/india-proposed-law-bans-private-cryptocurrencies-181519169.html

This is going on for last 3-4 years so its business as usual. Blanket Ban is virtually impossible in India.

F U Indian government. F U.  

https://finance.yahoo.com/news/india-proposed-law-bans-private-cryptocurrencies-181519169.html

Well, I'l grab some more popcorn then. I need to see india divide in a bunch of smaller states and watch how their armies clash between each other while China will try a land grab at the border.  

Colonialism and partition wounds are still very fresh in the Indian Psyche. Before leaving India Poms divided India into 565 princely states but we came together so It already happened in the past and not going to happen again. India does have many problems but one thing Indians do very well that how to handle diversity and stick to each other despite their differences.

Thanks for the on-the-grounds report, chhota bhai.

 

[Biodom]

There are companies that observe social activity as it relates to investment.
Here are some of their conclusions (nothing that we did not discuss before, really):

https://finance.yahoo.com/video/expert-reddit-fueled-trading-large-184805904.html
watch from 2:54 fwd

bitcoin is currently unaffected (actually, it was affected from long time ago  )

[JayJuanGee]

Those considering that gemini 'earn' thingie better read this:

https://www.gemini.com/legal/gemini-earn-program-terms-and-authorization-agreement#section-5-making-loans-to-borrowers

Basically, Gemini is just facilitating your lending. They have no or almost no 'skin' in the game and if the Joe-shmoe (called Genesis or whatever, apparently) ever defaults, say bye-bye to your bitcoin.
For that non-involvement they are being compensated quite nicely:

https://www.gemini.com/fees/gemini-earn-fees#section-fee-schedule

Not that comp is relevant here, but they, gemini, are taking 4.74% themselves, leaving 2.74% to you.
btc is slightly fairer with 3.05 to 1.08 split

What a nice deal overall....not.
We need to earn on DEXes-that's the real way forward.

Wow whole 3% APY and they don't even guarantee your money, where do i sign up (not).

If everyone began to send their coins to these institutions wouldn’t that enable the market manipulators to open larger short positions since there would be more BTC available to borrow?
This in turn would mean that “they” would be able to push the market down harder and faster.
If everyone just kept a hold of their BTC until the moment they wanted to sell then there would literally be no BTC available to borrow to open shorts.
Or am I being too naive here?

You're too naive...


Just want to say it for funzies.

GME was always going to be pump & dump. Get in, take your $200 - $300 per share & GTFO (I doubt you’d have managed to time the top).

It’s a failing business with no future, this was always going to be a short term fix. Bitcoin on the other hand is the most ingenious invention of  the last 100+ years, few understand this.

I "know" some peeps who "understand this," but not in real life - I know them either through podcasts, tweets or forum threads like this... I am pretty sure that they are real, even though I have not actually touched any of them (#no homo)

 

Too much altcoin talking around here lately.  

You got that right, acquafredda.

But how you gonna stop these imaginary peeps on the interwebs.. besides trying to shame them, which does not seem to work too well (in actual practice).    

[Hueristic]

Interesting.
http://counterfeitingstock.com/CS2.0/CS3ShortSqueezes.html

Short Squeezes only exist in the minds of naïve long share holders. As long as the shorts have the ability to make a virtually unlimited supply of counterfeit shares, they can usually meet the buy-side demand and keep a lid on the stock price — or, better yet, drop it.

It is myth to think the shorts have to cover in order to realize a profit. While this may apply to small investors, it does not apply to the broker dealers. Each day their short position is “marked to market.” For example, if a broker dealer shorts 100 shares at $10, the liability in that account is $10 x 100 or $1000. So long as the stock price is $10, the money remains in the account. If the stock price drops to $9, the account is marked to market, which reduces the required funds in the account to $900. The $100 that is freed up can be drawn out by the broker on a daily basis. Conversely, if the stock price goes to $11, he must add $100 to the account. The equation for the broker becomes: Do I counterfeit more shares, drive the price down and take out more profit or do I stop counterfeiting, watch the price rise and add more money to my account? Morality rarely enters into the decision-making process.

Situations where the broker dealers join with large hedge funds to attack a small to mid-size company are less likely to see covering, even if the stock price gets away from them on a short term basis. Good company news or earnings are shorted into keeping a lid on the stock while driving down the multiple. They are very patient, well financed and have the ability to wait until the company stumbles, then they attack. They can also attempt to hurt the company's business and earnings utilizing the devices explained in this text. For these reasons short squeezes in emerging companies almost never occur.

When attacks involve very large victim companies that are extremely solid and profitable, the shorts may cover these positions because the stock of these companies is too widely traded to manipulate for a long period of time. The short attack on Apple that occurred in early 2008 is likely a case in point.

The practice of wholesale counterfeiting of stock, that has made short squeezes obsolete, began in earnest in the mid-nineties. Initially attacks were done in the fringe markets, i.e. over the counter or companies that appeared to be easy victims. It was so easy, and so much money was flowing into hedge funds /broker dealers, that the game was expanded and moved up to the fringe exchanges, particularly those whose rules and enforcement apparatus allowed the manipulations to be done from the shadows. The regional exchanges became a haven for shorts that continues to this day. Up to this point the overwhelming majorities of companies were too weak to fight back and frequently went out of business.

The attacks moved up the exchange “food chain” and became increasingly large and vicious, targeting good companies that happened to stumble following a favorable run up in stock price. By 2008, targets included companies such as Bear Stearns, Lehman Brothers and Apple.

This degradation of our capital markets could only exist because of the seriously flawed and compromised enforcement apparatus that starts with the Congress and ends with the broker dealers who are violating, on a large scale basis, the rules they are supposed to be enforcing. Even if the SEC wanted to aggressively investigate large-scale manipulative trading, they are seriously hampered because they are still a paper-based organization. Requested trading records are delivered in the form of truckloads of paper tickets, with the promise of more truckloads if need be. The electronic capabilities of the SEC to receive, process and analyze data is decades behind Wall Street's.

[OutOfMemory]

Now i'm even more bullish on GME 

[vapourminer]

GME plummeted to ~$81.27 before rising back up again, now at $100. I saw some posts on WSB showing that this was observed during the Volkswagen short squeeze too. Could this be an indicator of anything, or just a dip?

so down ~80% from the $450ish ATH? sure, a dip for ants maybe.

edit: thanks for the price check, just bought some more.

[serveria.com]

Mmmm... nice lil pump... 

[Elwar]

Things are getting pretty serious about Ranchero Lawblaw. Have engaged an engineer for a proper survey / evaluation of the land we're looking to buy. Also, surveying to see if we're able to build a well on the property, which will be critical.

Woo.

Them: "Wait, so, you want to build a racetrack, through a 100-year floodplain ?"
Me: "Yeah, 1% chance per year. That means I have a 99% chance, decreasing, of using it every year until I die. I'll play those odds."
Them: * Look on face of "Is this polite black man serious ?" *
Me: "Yes. I'm absolutely serious. Around the perimeter of the property. Please make sure we are abiding by easement rules for the properties next to us. We'll need a cross-section for the race-track intersecting the driveway."
Them: "You have obviously given this a lot of thought."
Me: "Yes."

Also, go Corn !!!

Lambo is so 2017...building a race track...that's where it's at.

Perhaps you can invite all of the Bitcoin Lambo people to your place for a ride.

[Krubster]

MicroStrategy bought another $10M worth of bitcoins yesterday.

https://www.sec.gov/Archives/edgar/data/0001050446/000119312521025369/d124926d8k.htm

On February 2, 2021, MicroStrategy Incorporated (the “Company”) announced that it had purchased approximately 295 bitcoins for $10.0 million in cash, at an average price of approximately $33,810 per bitcoin, inclusive of fees and expenses. As of February 2, 2021, the Company holds approximately 71,079 bitcoins that were acquired at an aggregate purchase price of $1.145 billion and an average purchase price of approximately $16,109 per bitcoin, inclusive of fees and expenses.

[Dabs]

We need to earn on DEXes-that's the real way forward.

The "best" DEXes are on non-bitcoin chains / networks. You know it. I know it. But would you actually turn your BTC corns into something else? The "safest" is to just be a liquidity provider for the stable coins so you don't get any impermanent losses, since both of them will be almost at the same value for as long as you leave it there.

I mean, 1 USDT = 1 USDC = 1 DAI (or other dollar stablecoin) or very close to it.

[UnDerDoG81]

NICE

[vapourminer]

Them: "Wait, so, you want to build a racetrack, through a 100-year floodplain ?"
Me: "Yeah, 1% chance per year. That means I have a 99% chance, decreasing, of using it every year until I die. I'll play those odds."
Them: * Look on face of "Is this polite black man serious ?" *
Me: "Yes. I'm absolutely serious. Around the perimeter of the property. Please make sure we are abiding by easement rules for the properties next to us. We'll need a cross-section for the race-track intersecting the driveway."
Them: "You have obviously given this a lot of thought."
Me: "Yes."

Also, go Corn !!!

anyway you can fit a 1/4 mile drag strip on one of the straightaways? bonus points if its your driveway too.

[Toxic2040]

Official SpaceX livestream


t-minus 2 minutes

[Hueristic]

Official SpaceX livestream


t-minus 2 minutes

Looked great but they didn't quite stick that landing.

[julian071]

Official SpaceX livestream


t-minus 2 minutes

Did that go better then expected or not?

[Toxic2040]

Official SpaceX livestream


t-minus 2 minutes

Did that go better then expected or not?

Good test..the thing is sticking controlled flight..the flip and landing needs some work. Seems it was sort of the same problem as before but worse...no second engine relight.

Still..this is what its all about..rapid iteration..they will probably have SN10 ready for flight in a few weeks once the data comes back. I think they are stacks for up to SN15 plus the two super heavy boosters that will begin testing soon. Remember..this is only the upper stage of what is going to be a really massive rocket.

[BobLawblaw]

anyway you can fit a 1/4 mile drag strip on one of the straightaways? bonus points if its your driveway too.

 Actually, yes. The driveway will be *AT LEAST* serving as a straightaway 1/4 mile drag strip before hitting the bridge leading towards the main parcel of land.

 Difficulty factor: Roaming, grazing cattle. Will need to find some way of making sure the cattle are completely isolated from the driveway and racetrack.

EDIT: Jesus a lot of my $GME buy orders executed today, on the way down. YOLO !!!

[cAPSLOCK]

anyway you can fit a 1/4 mile drag strip on one of the straightaways? bonus points if its your driveway too.

 Actually, yes. The driveway will be *AT LEAST* serving as a straightaway 1/4 mile drag strip before hitting the bridge leading towards the main parcel of land.

 Difficulty factor: Roaming, grazing cattle. Will need to find some way of making sure the cattle are completely isolated from the driveway and racetrack.

EDIT: Jesus a lot of my $GME buy orders executed today, on the way down. YOLO !!!

Oh, the problems of zillionaires.