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

[shahzadafzal]

FUD vs FACT

1. "According to TradingView, bitcoin’s market dominance is down to around 57% from near 73% at the beginning of the year."
https://www.coindesk.com/market-wrap-bitcoin-steady-near-59k-while-gains-in-altcoins-pushed-crypto-market-cap-to-2t

2. Bitcoin “will absorb the altcoin market cap sooner or later,” Ju said.
https://www.coindesk.com/crypto-market-capitalization-2-trillion-first-time

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[P_Shep]

Aha, now I see. Lender makes a btc transaction to the borrower. So, no longer the lender's keys. This checks out.

If the btc are not back by the given time, the collateral is released (to the lender, I suppose). So the risk would be an insolvent borrower AND the collateral not covering the "new" value of btc at loan expiry. This also checks out.

What does not check out is the following. Imagine being the borrower. Imagine being asked for, say, 200% collateral. Maybe in USDC/USDT? OK. So at expiry, if the btc you borrowed is worth more than the collateral, why give the loan back? Let the lender just have the collateral. On the contrary, if the btc you borrowed is worth less than half the collateral, give it back of course, and keep your relatively precious collateral. In other words: a shorter's paradise. (EDIT - No: it's more like an arbitrage, since it's impossible to lose if this is all there is to it.) Am I missing something? It's obvious I am, but I don't know exactly what - or I wouldn't be missing it  

Another thing that escapes me: if you can post, say, 100k usd collateral, why would you borrow a bitcoin rather than buying one - or two? For simplicity, I'm assuming 1btc = 50k$.

Biodom, have you been able to figure this one out?

Just sounds like market forces then. Gotta predict what's going to happen and hope for the best. Either side could win or lose.

[Millionero]

Without selling any BTC how you will be rich then? Of course selling all will be stupid.. but you have to sell sometime... world still runs on fiat...   (and Merc, GMC, Toyota, Honda etc)

As bitcoin's value keeps going up, you can continue to borrow against it without increasing your debt-to-equity ratio.  You do not ever have to sell.

[OutOfMemory]

FUD vs FACT

1. "According to TradingView, bitcoin’s market dominance is down to around 57% from near 73% at the beginning of the year."
https://www.coindesk.com/market-wrap-bitcoin-steady-near-59k-while-gains-in-altcoins-pushed-crypto-market-cap-to-2t

2. Bitcoin “will absorb the altcoin market cap sooner or later,” Ju said.
https://www.coindesk.com/crypto-market-capitalization-2-trillion-first-time

"Altcoin season" about to top?

[BitcoinBunny]

Should have created my own blockchain token called Random Asshole Tokens or RATS and watch it go up 20% today for no reason too.

[Arriemoller]

Almost 10 o clock and the prize isn't moving. I was hoping for a "after holiday movement".

A well, let's see what happens when the muricans wake up.

In other news, we now have a vaccine against HIV. https://www.zmescience.com/science/vaccine-hiv-passes-phase-one-trial-23637533/

And Bhutan is vaccinating it's whole population in one go. https://www.zmescience.com/science/bhutan-vaccination-campaign-05042021/

[OutOfMemory]

Almost 10 o clock and the prize isn't moving. I was hoping for a "after holiday movement".

A well, let's see what happens when the muricans wake up.

In other news, we now have a vaccine against HIV. https://www.zmescience.com/science/vaccine-hiv-passes-phase-one-trial-23637533/

And Bhutan is vaccinating it's whole population in one go. https://www.zmescience.com/science/bhutan-vaccination-campaign-05042021/

Looks like a bull flag with a reversed-bart easter egg in the middle  
(EDIT: Formation naming suggestion: "Unicorn-Camel Pattern"?)

Great news, btw.
Good idea to put pressure on fighting HIV, especially when you look at the outview of SARS-CoV2 mutations that adjust to vaccination and bring a rise in infectivity and death rates. This fight will take a while.

[shahzadafzal]

"Altcoin season" about to top?

nah.

"Altcoin season" about to top pop?

[OutOfMemory]

"Altcoin season" about to top?

nah.

"Altcoin season" about to top pop?

Thanks for FTFM  

EDIT:

The last weeks feel like the time when certain people said "Bitcoin will never go over $10k again".
Maybe the same type are now ranting that it will never go over $60k again.
Please, repeat that at $360.000 at the end of Q4  

Gotta run, it's snow shoveling season all over again 

[BitcoinBunny]

"Altcoin season" about to top?

nah.

"Altcoin season" about to top pop?

"Altcoin season" about to top pop poop?

[New.in.trading]

If we break the current Higher High (ATH) then there is no stopping anymore. In case BTCUSD wants to go and give us a better price to get on board, I dont mind either and will grab another Btc or two. This is were It think, BTC is going:

[JayJuanGee]

A bonus protip.. you do not become richie by selling your BTC.

Without selling any BTC how you will be rich then? Of course selling all will be stupid.. but you have to sell sometime... world still runs on fiat...  (and Merc, GMC, Toyota, Honda etc)

Surely the implication of my above snipe is in regards to selling all or selling too much too soon.

Of course, also, there is a need to figure out a kind of balance, but in these times, there should be goals of figuring out accumulation goals and attempting to manage such accumulation goals.  Once you have achieved your BTC accumulation goals (and perhaps even over-accumulating) then you have a lot more flexibility in terms of selling portions or reallocating or whatever.

Bonus protip 2:  attempting to accumulate BTC by selling BTC is quite likely a very much inferior strategy to DCA buy, buy on dip and HODL -

Bonus protip 3:   Like any rule there are exceptions, don't automatically believe that you are going to be able to fit within the exceptions - until you have mastered and understood the basics first - which in BTC are DCA buy, buy on dip and HODL.

[macson]

https://www.youtube.com/watch?v=iYn6EQDqTkU

[Arriemoller]

Just sold 0.01 btc (no confirmations yet) let's see if that can't make the price move.

[Cryptotourist]

So, BTC dominance vs alts.



What do you guys n GIRLS think happens next.

[BitcoinBunny]

So, BTC dominance vs alts.



What do you guys n GIRLS think happens next.

A guess: Alts continue to rise BeCaUsE tHeY aRe So GoOd

[somac.]

Judging from the shitcoin market and the consolidation at these high levels in bitcoin for some time now, I think that we have less than 2 or 3 days before bitcoin breaks out out in a major way to the upside. I wouldn't be surprised if it happens today.

However, I've also seen before that when shitcoins go full stupid like they are right now the whole market collapses first, then bitcoin takes off, shitcoins don't. Time will tell. But one thing is certain is that shitcoins will always be shit and bitcoin will always be king. Long live the king and hodl!

[philipma1957]

A bonus protip.. you do not become richie by selling your BTC.

Without selling any BTC how you will be rich then? Of course selling all will be stupid.. but you have to sell sometime... world still runs on fiat...  (and Merc, GMC, Toyota, Honda etc)

Surely the implication of my above snipe is in regards to selling all or selling too much too soon.

Of course, also, there is a need to figure out a kind of balance, but in these times, there should be goals of figuring out accumulation goals and attempting to manage such accumulation goals.  Once you have achieved your BTC accumulation goals (and perhaps even over-accumulating) then you have a lot more flexibility in terms of selling portions or reallocating or whatever.

Bonus protip 2:  attempting to accumulate BTC by selling BTC is quite likely a very much inferior strategy to DCA buy, buy on dip and HODL -

Bonus protip 3:   Like any rule there are exceptions, don't automatically believe that you are going to be able to fit within the exceptions - until you have mastered and understood the basics first - which in BTC are DCA buy, buy on dip and HODL.

if all you do is buy to acquire BTC

 DCA & buy dip HODL are best.

To think you can buy the Dip  sell the peak Wait for the crash and buy in real low is a pipe dream.

Even though I mine for most of my BTC

I buy dips on PayPal for PAYPAL btc
I DCA  on coinbase.


right now coinbase has a nice setup a $50 usd weekly buy and they give you $10 on 4th and 8th buys.
so 420 worth of btc for 400 via a weekly DCA of eight weeks.

[lightfoot]

Judging from the shitcoin market and the consolidation at these high levels in bitcoin for some time now, I think that we have less than 2 or 3 days before bitcoin breaks out out in a major way to the upside. I wouldn't be surprised if it happens today.

However, I've also seen before that when shitcoins go full stupid like they are right now the whole market collapses first, then bitcoin takes off, shitcoins don't. Time will tell. But one thing is certain is that shitcoins will always be shit and bitcoin will always be king. Long live the king and hodl!

I tend to watch the Litecoin/Bitcoin ratio as an indicator of what shitcoins are doing. Back during the previous runup a few years ago LTC was running at around .12 BTC to .16 BTC. Now it's spent over a year at .004 and even today is around .0038 or so. So not much of a pump at all when compared to what BTC did earlier this year.

I'd keep an eye on Eth, but it is complete dishonest garbage and not worth the effort.

[Wilhelm]

Should have created my own blockchain token called Random Asshole Tokens or RATS and watch it go up 20% today for no reason too.

Love it