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

[AlcoHoDL]

Some audio-visual stimulation while we wait for 40k €:

Delerium - Flatlands

Clip is not official (it's taken from The Chemical Brothers), but matches the music perfectly. Holly Weston is a beauty.

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[hisslyness]

Uber is also now considering accepting Bitcoin.

Domino effect in play right here.

Sit back, relax and enjoy getting rich while chilling at the sidelines. You deserved it!

Imagine Uber being a LN hub! or integrating LN directly on their apps. Instant Bitcoin transfer! What an amazing time to be alive!

[Biodom]

Fully diluted,we are above $1tril-a fine achievement.
Next stop-$1 tril using currently issued (~$53-54K).

[rolling]

I hope they learnt a lesson with GameStop!

I doubt it. Apparently Congress showed more interest in hearing the guy called DeepF_Value (the reddit poster who started it all) rather than shedding light on the shit that went on between RobinHood and one or more clearing houses.

Exactly, basically Robinhood got margin called for 3 Billion even though most of the buyers on Robinhood were cash buyers and nearly every position on Robinhood was in profit at the time.

The clearinghouse is working for the hedge funds and margin called the wrong side of the trade. Will this fact make it to congress and will they do anything about it? No.

[Dabs]

I hope they learnt a lesson with GameStop!

I doubt it. Apparently Congress showed more interest in hearing the guy called DeepF_Value (the reddit poster who started it all) rather than shedding light on the shit that went on between RobinHood and one or more clearing houses.

He wasn't even one of the earliest guys to buy in. He got in 2019 or so. Some other guy has been holding GME since 2017 (but did end up selling above $300 or $420 I believe, he said).

As for ETFs, following Grayscale or QBTC (3iQ Corp), no fund in their right mind would launch without holding either 100% or more of the underlying (which is BTC.) By more, I would say they could have 99% and some extra cash, but probably hold 120% in BTC and only issue 100% of the shares or something like that. In any case they can copy the existing funds and what they're doing.

[dieselmeister]

no...wrong direction ... up, up, up...

Let her take some breath ffs!  

[hisslyness]

I hope they learnt a lesson with GameStop!

I doubt it. Apparently Congress showed more interest in hearing the guy called DeepF_Value (the reddit poster who started it all) rather than shedding light on the shit that went on between RobinHood and one or more clearing houses.

Exactly, basically Robinhood got margin called for 3 Billion even though most of the buyers on Robinhood were cash buyers and nearly every position on Robinhood was in profit at the time.

The clearinghouse is working for the hedge funds and margin called the wrong side of the trade. Will this fact make it to congress and will they do anything about it? No.

Never! Too much political donors involved! They will never bite off the hand that feeds them. Misdirection in play, blame the other guy to shift the light from the cluster fuck that they created!

[savetherainforest]

no...wrong direction ... up, up, up...

mofo... I did say like 2-3 pages ago... next 24 hours is sideways!

[dieselmeister]

no...wrong direction ... up, up, up...

mofo... I did say like 2-3 pages ago... next 24 hours is sideways!

1000$ loss ... bear market is comming ...

[Biodom]

Again, bitcoin is cool and solid, but the rest are overheating like crazy in complete fever.
To me this looks like a setup for a nice dump. Maybe btc gets to 50-60K area before the dump, then at least 20% decline, which would basically bring us back to where we are now or even slightly below.

Shitcoins should drop at least 40-70%, though. I don't want to name names, but many are 100-400% up in the last 7 days. Ridiculous.
For example see nicely engineered dump in overheated pot stocks today. -30% on the open on no news, just to "balance" things out.

[savetherainforest]

no...wrong direction ... up, up, up...

mofo... I did say like 2-3 pages ago... next 24 hours is sideways!

1000$ loss ... bear market is comming ...

Well... it will just go zZig-Zag for a few days up & down & up & down.
Probably price discovery needs to take place after the news of the Tesla big buy was taken into account and the supply needs to be tested to see how dry or high it is.    

[hisslyness]

Does anyone have the list of WO members that need to be woken up at 50K?

So far i remembered..

OutOfMemory
BobLawblaw

[BobLawblaw]

Does anyone have the list of WO members that need to be woken up at 50K?
...
BobLawblaw

Not selling at $50k. Decided we don't have any reason to, even on principle. Rick and I both have enough fiat set aside to last us comfortably for the rest of our unnatural lives.

Decided we're going to sell another mil when we're ready to start building on the ranch. The weather turned to shit overnight, so I suspect that's going to delay the engineering survey for possibly two weeks, but we are remaining patient, and not in a hurry to get the deal done.

Due diligence on a land deal the size we are considering is nontrivial. The agent repping us even commented "I've never worked on a deal this large for personal use"

[Sayeds56]

Very Entertaining video.

[hisslyness]

Does anyone have the list of WO members that need to be woken up at 50K?
...
BobLawblaw

Not selling at $50k. Decided we don't have any reason to, even on principle. Rick and I both have enough fiat set aside to last us comfortably for the rest of our unnatural lives.

Decided we're going to sell another mil when we're ready to start building on the ranch. The weather turned to shit overnight, so I suspect that's going to delay the engineering survey for possibly two weeks, but we are remaining patient, and not in a hurry to get the deal done.

Due diligence on a land deal the size we are considering is nontrivial. The agent repping us even commented "I've never worked on a deal this large for personal use"

Wow!.. make sure you enjoy it! you have bloody earned it!

i couldn't pull the trigger on the lambo the other! really enjoying watching the cost in bitcoin come down...

[savetherainforest]

So Elon Musk promotes dogecoin but buys Bitcoin? And people still buy doge? Hmmmm

Are you saying he...distracted people with a shitcoin?    

Oh no!

 

Once i see a fat red candle on the dogeshitcoin and BTC daily, I am shorting the doge to the ground. Just a matter of time.

he later said that he bought doggiecoin for his little X, so he might not be completely ambivalent about it.

He told us 1.5Bn were spent on Bitcoin... How much exactly did he spend on Dogecoin?

Man... I've been trading Doge for more then a week now. And I can tell you there is some weird buying pressure happening all the time. There is more money then there is dodge. And I made some simple math about the supply of doge per year, and it is way less then the amount the central banks are printing.            

Mathematically, deflation is unsustainable due to the infinite nature of having no cap. Once it gets so popular that miners decide to mine more doge, the market will quickly start diluting the price. Once the price dilutes, the people will start swapping it for Bitcoin.

BULL'F-iNG-SHEEEEEiiiiTTTT!!!!

The World NOW! All the World/Earth needs a minimum of 20 Trillion $ per year to keep inflation above 0%. If they don't print 20+ Trillion $ per year, they go under 0% and that is deflation and that means you will buy stuff cheaper in the supermarket for the same money you had. And now when it comes to Doge, if our favorite meme Doge coin can only produce around 5.256 billion coins per year, then that means there is a deficit of 19.994744 $ US Trillion. So that means that Doge needs to be at around 20$ US per coin then add like between 0.5% and 2% increased value per year for it to keep a moderation on inflation. (even if at this point it is 100% a deflationary coin, even with the 10K coins per minute. Basically you would need between 150K < > 250K coins per minute of Doge to be released on the market for the inflation of the World to stay above 0% ... is that clear enough for you??)

[Torque]

Does anyone have the list of WO members that need to be woken up at 50K?
...
BobLawblaw

Not selling at $50k. Decided we don't have any reason to, even on principle. Rick and I both have enough fiat set aside to last us comfortably for the rest of our unnatural lives.

Decided we're going to sell another mil when we're ready to start building on the ranch. The weather turned to shit overnight, so I suspect that's going to delay the engineering survey for possibly two weeks, but we are remaining patient, and not in a hurry to get the deal done.

Due diligence on a land deal the size we are considering is nontrivial. The agent repping us even commented "I've never worked on a deal this large for personal use"

Reminds me of my 70+ acre land deal a few years back.

The look on my agent's face when he said, "You mean you're gonna...pay cash for the whole thing?"  

And thank the gods I got the house built when I did...lumber prices are now through the roof.

[vapourminer]

Does anyone have the list of WO members that need to be woken up at 50K?

So far i remembered..

OutOfMemory
BobLawblaw

wake up?? for 50k?? *shudder* maybe 75k would be worth waking up for, just to hit snnoze bar while glancing at the chart.

i have lulz amount set to fire at 50k, just for reasons so ill know when it was.

[Dabs]

Not selling at $50k. Decided we don't have any reason to, even on principle. Rick and I both have enough fiat set aside to last us comfortably for the rest of our unnatural lives.

Don't sell it all then, borrow against it. May have to give up custody, but that usually means to another large institution like Gemini.

I take it you mean, you already have, in fiat, at least 25 times your annual expenditures, calculated for the rest of your lives, at about a 4% withdrawal rate, invested in some trad-fi stuff (stocks, bonds, etfs) that would probably yield at least 5%?

Awesome!

Don't sell the corn. In 10 to 20 years, each one will be 6 to 7 digits worth of US fiat.


As for Doge or any other coins/tokens, it's not necessarily that there is an infinite supply, but the rate of that supply coming into existence. Technically, some coins have infinite supply, but will take several decades to double in total supply, so it is a bit misleading to look at it in terms of "is it capped or not?"

Bitcoin is also the same way. People keep focusing on the year 2140, when the last bitcoin is mined, but forget or do not realize that a hundred years before that, in 2040 (which is only 19 years away from now), we will already have 20.9 million coins, or 99% of the supply.

As early as 2030 (9 years from now) we will have more than 20.5 million coins. It's the last half million that will take until 2140.

[jojo69]

And thank the gods I got the house built when I did...lumber prices are now through the roof.