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Question: Which price is bitcoin going to reach first? (credits to Jay)
$25K - 56 (34.6%)
$50K - 106 (65.4%)
Total Voters: 162

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25373565 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. (157 posts by 13 users deleted.)
ChartBuddy
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June 07, 2021, 02:01:29 PM


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June 07, 2021, 02:03:12 PM


Yes I re-zeroed it (with paper). I'll check the zero and level again before the next attempt.
I also found that the slicer deemed some objects too small to print, specifically a jerry can in 1:87 (5,3 mm high) guess I'll have to order that from Shapeways.


That seems odd. 5.3mm seems like a reasonable size. You could maybe try Lychee?
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June 07, 2021, 02:04:52 PM

Something I'm not really understanding right now. Lot's of good news around Bitcoin right now, I mean shit, there are now countries wanting to make Bitcoin legal tender. However, if you go check out the prices of shitcoins they are all up far more than BTC.

Only explanation that I have is that Bitcoin's price is being targeted, where as the others aren't.

Am I taking crazy pills or something.
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June 07, 2021, 02:18:37 PM

The other thing is... the more of him there are the harder it will be for the USGov to attack bitcoin without hurting lot's of private investors.  It is starting to imbed itself into world markets in a way that you won't be able to kill it without taking the host out with it.  And it's starting to look like the host is potentially the world economy.

I still think that this (using a publicly-traded corp to pump Bitcoin) is the worst way to "imbed [sic] itself". There is zero actual utility in MSTR owning a bunch of Bitcoin, other than possibly skirting SEC (non)approval of Bitcoin ETFs and that can only end in tears.

Bitcoin should be quietly replacing SWIFT/ACH/all that other interbank clearing house shit. Or payment systems - perhaps not replace Visa et al because muggles love their plastic cards, but in the backend/settlements. Now that would be something that's extremely unlikely to be unraveled by a government.
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June 07, 2021, 02:22:40 PM

Something I'm not really understanding right now. Lot's of good news around Bitcoin right now, I mean shit, there are now countries wanting to make Bitcoin legal tender. However, if you go check out the prices of shitcoins they are all up far more than BTC.

Only explanation that I have is that Bitcoin's price is being targeted, where as the others aren't.

Am I taking crazy pills or something.

In my opinion, there's a lot of people only looking the charts, and expecting more dump, and all the talking about death cross (MA 50 crossing MA 200), maybe they are waiting for something more than 42k to start buying again

If you look at trends, news, fundamentals, adoption, we are at the best moment ever for Bitcoin, price will reflect at some point, in a good and organic growth
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June 07, 2021, 02:25:11 PM

Something I'm not really understanding right now. Lot's of good news around Bitcoin right now, I mean shit, there are now countries wanting to make Bitcoin legal tender. However, if you go check out the prices of shitcoins they are all up far more than BTC.

Only explanation that I have is that Bitcoin's price is being targeted, where as the others aren't.

Am I taking crazy pills or something.

Always been the case that as the price goes up, people take profits. They'll often hold off during a rally then cash in when it softens a bit. To my eye, we're still above the long-term exponential trend line (but not by much) and it seems someone(s) are taking their profit at this level. That doesn't preclude another rally but there's definitely more sideways and maybe even some down in the near future. On the upside, Bitcoin has totally proven that people are willing to believe it's worth 60-65k (which we all knew anyway but those milestones are important).
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June 07, 2021, 02:28:41 PM

The other thing is... the more of him there are the harder it will be for the USGov to attack bitcoin without hurting lot's of private investors.  It is starting to imbed itself into world markets in a way that you won't be able to kill it without taking the host out with it.  And it's starting to look like the host is potentially the world economy.

I still think that this (using a publicly-traded corp to pump Bitcoin) is the worst way to "imbed [sic] itself". There is zero actual utility in MSTR owning a bunch of Bitcoin, other than possibly skirting SEC (non)approval of Bitcoin ETFs and that can only end in tears.

Bitcoin should be quietly replacing SWIFT/ACH/all that other interbank clearing house shit. Or payment systems - perhaps not replace Visa et al because muggles love their plastic cards, but in the backend/settlements. Now that would be something that's extremely unlikely to be unraveled by a government.


I agree.  The whole MSTR thing makes me a little itchy.  But at the same time it is a legit play.  He is literally running the "speculative attack" described by Pierre Rochard the better part of a decade ago now.  https://nakamotoinstitute.org/mempool/speculative-attack/

And Bitcoin is a complex thing in the way it is going to weave itself into economies.  Saylor is playing the role of the new George Soros as basically 90% speculator, and 10% educator.  And I think we cannot overlook that second part.  We all feel itchy about Musk and that Mining whatever it was... but Saylor is actively trying to steer potential derails like that in a direction that does not harm BTC.  And that is valuable. A lot of this falls into the bucket of "Necessary Evil" for me.

Now at the same time some millennial Latin American president sees a way to carve his name deeply into history and enrich his country.  So he is doing what he thinks will help him.

That's just it...  human nature is full of yuck, in my opinion.  And bitcoin is built in a way that will harness the energy of all these actors who's main objective is to enrich themselves somehow towards something that betters mankind.

It is literally the intellectual child of pure capitalism.

I think it's gonna work. Wink
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June 07, 2021, 02:28:59 PM

Something I'm not really understanding right now. Lot's of good news around Bitcoin right now, I mean shit, there are now countries wanting to make Bitcoin legal tender. However, if you go check out the prices of shitcoins they are all up far more than BTC.

Only explanation that I have is that Bitcoin's price is being targeted, where as the others aren't.

Am I taking crazy pills or something.

That looks like a good indicator to me because eventually, some or all of that value going into altcoins will flow back into bitcoin or find a way, perhaps jumping around. Like, token to altcoin to exchange to bitcoin or something. Some do have direct fiat pairings in some exchanges, but eventually it pays for something else or goes back to bitcoin.
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June 07, 2021, 02:31:29 PM

One scary thing... Short interest has quadrupled in the last day. :/

https://www.tradingview.com/symbols/BTCUSDSHORTS/



Whassat gonna do?
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June 07, 2021, 02:38:21 PM

One scary thing... Short interest has quadrupled in the last day. :/

https://www.tradingview.com/symbols/BTCUSDSHORTS/


Whassat gonna do?

when did shorting start and what exchanges allow this?   I don't short and never will just surprised this became an option in trading BTC.  Hell i guess if you can gamble it away at a dedicated site anything can pop up.   
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June 07, 2021, 02:50:11 PM
Last edit: June 07, 2021, 03:00:57 PM by OutOfMemory
Merited by El duderino_ (2), cAPSLOCK (1), JayJuanGee (1)

One scary thing... Short interest has quadrupled in the last day. :/

https://www.tradingview.com/symbols/BTCUSDSHORTS/


Whassat gonna do?

when did shorting start and what exchanges allow this?   I don't short and never will just surprised this became an option in trading BTC.  Hell i guess if you can gamble it away at a dedicated site anything can pop up.  

Since hedge funds are in the game now as well, this would suit them. This level of accumulation might get filthy at times.
Just my 2c

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If i forgot to mention this in the past, ledger confirmed the deletion of all my data about 6 weeks after i sent them my request email.


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June 07, 2021, 03:01:37 PM


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June 07, 2021, 03:22:42 PM


I am still not sure if he will make into the history books as the biggest retard or the greatest genius. Time will tell. But if crypto really fails (because the system starts to fight it with all they have) he surely will be torn in pieces by the mass media.

And yes, if one Elon Tweet can cause a 50% drop, the system has all the power to bring it down to 3 digits. By all the crypto fanboyism, we have to stay realistic.
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June 07, 2021, 03:23:49 PM

Saylor is relentless, I hope he’s as honest & committed as he seems.

It seems he is….

I have a good feeling with that dude
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June 07, 2021, 03:32:14 PM
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One scary thing... Short interest has quadrupled in the last day. :/

https://www.tradingview.com/symbols/BTCUSDSHORTS/


Whassat gonna do?

when did shorting start and what exchanges allow this?   I don't short and never will just surprised this became an option in trading BTC.  Hell i guess if you can gamble it away at a dedicated site anything can pop up.  

Since hedge funds are in the game now as well, this would suit them. This level of accumulation might get filthy at times.
Just my 2c


ahhh yeh that's right I had forgot about them, they like to claim it brings liquidity to the market however I have always seen it as just manipulation.
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June 07, 2021, 03:59:43 PM
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Saylor is relentless, I hope he’s as honest & committed as he seems.

He is taking a pretty big risk.  It would take some pretty deep conspiracy theory to really attribute something nefarious here.

That said, we all are sort of tied to him in a way... if he dies, well... we do to.

The other thing is... the more of him there are the harder it will be for the USGov to attack bitcoin without hurting lot's of private investors.  It is starting to imbed itself into world markets in a way that you won't be able to kill it without taking the host out with it.  And it's starting to look like the host is potentially the world economy.

This is a virus unlike anything we have ever seen before.

I have a hard time believing that "we" are dependent on Saylor.

Sure it is nice that he is buying a lot of bitcoin, going into debt to buy more bitcoin, publicizing his buying of bitcoin and going into debt about it, and engaging in BTC education campaigns to teach/influence others to do the same thing (institutions and individuals).

Yes, bitcoin would take a hit if he did a Musk - or turned rogue in a variety of ways  - including that he is potentially currently armed with more than 110k BTC including his personal and company stash - but fuck Michael, Satoshi, Coinbase, Grayscale or any of those folks if the were to go rogue with coins in their control.

Some of the BIG players are "in the open" and surely there are some other BIG players who are a bit more hidden.. bitcoin is designed around both game theory and ideas that there are likely going to be a variety of attacks upon it, whether from the inside or the outside - and surely price would likely take a hit when there might be a variety of  hard coin dumping attacks and at the same time publishing the attacks and spreading various FUD, yet should any of us be scared out of our BTC investment thesis besides regular kinds of ongoing preparations for both UP and DOWN, including extremes in either direction.

Hopefully, each of us are prepared for either direction, including extremes that go beyond our expectations - and including that we are going to hopefully be informed enough to recognize if Bitcoin were to dump whether the information were true about it being broken (or dead) this time is for real - or merely amongst the multitude of ongoing fakenings that we have seen over the years, and there should be some credibility in the bull case for bitcoin this time in order that those of us who have been in a decently long time have seen enough of the nonsense that we are not going to be fooled by it, even if it feels uncomfortable (and even painful) both financially and psychologically in the short term if the BTC price were to be moving way contrary to our expectations and staying way below our expectations for longer than we thought was even possible.

Something I'm not really understanding right now. Lot's of good news around Bitcoin right now, I mean shit, there are now countries wanting to make Bitcoin legal tender. However, if you go check out the prices of shitcoins they are all up far more than BTC.

Only explanation that I have is that Bitcoin's price is being targeted, where as the others aren't.

Am I taking crazy pills or something.

Shitcoins are easy as fuck to pump on any kind of bullshit, so if they believe that news is good for bitcoin (that bitcoin might pump), they pump on the mere possibility of such.  Don't get confused that there is actually any value in any shitcoin merely because they are capable of ongoing and incessant pumpenings.. and surely, merely because they can pump and frequently do pump many times bitcoin does not mean that they will pump when you put your money (your "reasonable" hedge) there.
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June 07, 2021, 04:01:28 PM


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June 07, 2021, 04:14:59 PM
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All things are going according to the plan. The first week after the dump set a 20% range, the second - 10%, the current - 5%. It is like a falling wedge but with higher lows - a clear sign that an upward breakout is coming. The weak hands are lost behind in tears, while the holders acummulate more with every hour. This 36K fake equilibrium can't fool nobody. Bitcoin is heavily undervaluated obviously. Currently only the pump and dump groups in the derivate markets are holding the price low, but not for long. If they don't close their short positions in the next few days, the incoming big buys will liquidate them quickly. I expect prices above 45K when MicroStrategy purchases ~10K BTC's in the next few days. Hopefully, this will be followed by other big investors and we will have an exciting summer aiming at 100K.
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June 07, 2021, 04:25:28 PM

One man's trash is another man's treasure. Don't discount the possibility of trash having any value just because you believe it should not. They do. While we all believe they should be zero ... it's currently above zero for now. If you know how to take advantage of it, you probably would try. If not, then it's just as well to keep whatever value you need in just bitcoin.
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June 07, 2021, 04:28:43 PM
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The other thing is... the more of him there are the harder it will be for the USGov to attack bitcoin without hurting lot's of private investors.  It is starting to imbed itself into world markets in a way that you won't be able to kill it without taking the host out with it.  And it's starting to look like the host is potentially the world economy.

I still think that this (using a publicly-traded corp to pump Bitcoin) is the worst way to "imbed [sic] itself". There is zero actual utility in MSTR owning a bunch of Bitcoin, other than possibly skirting SEC (non)approval of Bitcoin ETFs and that can only end in tears.

Bitcoin should be quietly replacing SWIFT/ACH/all that other interbank clearing house shit. Or payment systems - perhaps not replace Visa et al because muggles love their plastic cards, but in the backend/settlements. Now that would be something that's extremely unlikely to be unraveled by a government.

Variations of these behind the scenes and in front of the scenes are simultaneously and increasingly happening by BIG players and small players alike who are making a whole lot of individual choices regarding what options might be available to them and which options to use, and some normies and even BIG institutions do not know what the fuck Gresham's law is, but they are engaging in choices that both follow Gresham's law and end up gravitating their value into the fastest horse in the race, whether they are going to admit it or no.

Whatever effect the Saylor/MSTR continued employment of decently large debt instruments (third one as far I have heard), including your accusation that he is skirting the SEC, seems to be happening within legally accepted modalities, very publicly, and I imagine that Saylor has been both getting very decent counsel on the topic as well as would be in a very decent position to use any legal action against him (in the pie in the sky hypothetical that such an action would come) to draw even more attention to what he is doing and has been doing in a Streisand effect way that neither the SEC or any other branches of the US Govt. would be in a very good position to damper such anticipated Streisand effect.  In other words, I would be hesitant to presume a bad ending to what Saylor is doing (personally and through his company) or what Saylor is going to continue to do... So far, seems pretty damned solid and likely to have several imitators, even if they are less public at least in terms of their getting their company treasuries into BTC.
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