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

[Richy_T]

Looks like the FBI question has resolved to them gaining access to a custodial wallet.

Not that I ever doubted the security of Bitcoin but such things tend to scare the horses.

[ChartBuddy]

Explanation

[somac.]

https://twitter.com/nayibbukele/status/1401622548396314631

1. Great weather, world class surfing beaches, beach front properties for sale.
2. One of the few countries in the world with no property tax.
3. No capital gains tax for #Bitcoin, since it will be a legal currency.
4. Immediate permanent residence for crypto entrepreneurs.

... damn this sounds tempting. Will be really interesting to see what happens next with El Salvador welcoming the 'smartest people in the room'.

There'll probably be a fight first though, IMF and USA have allready contacted El Salvador about it all apparently.

You never know, El Salavador might have some freedom coming their way, before we can all relocate there.

Unless USA and IMF wants to be hated by the whole world, they'd be smart to leave this one alone.

Hang on, are you saying that the US and IMF aren't already hated?

More countries will follow, so if you wait you can pick another country of your choise, they will compete for those smart people.

Yep there will be at least a couple more. Purely as a way for those countries to get new capital investment from the space.

[aesma]

Up up up !

[somac.]

Up up up !

Hopefully this time it stays up.

[Richy_T]

Up up up !

Hopefully this time it stays up.

If it stays up for more than four hours, consult a doctor.

[somac.]

Up up up !

Hopefully this time it stays up.

If it stays up for more than four hours, consult a doctor.

Wrong. Consult a brothel is what you do.

[ChartBuddy]

Explanation

[Parazyd]

El Salvador accepting BTC as legal tender is the most bullish news I've heard this year to date.

[Gyrsur]

Explanation

@Richy_T: the pic represents the Bitstamp Orderbook over a time of 1 hour in 3D, right?

the walls below are then the (passive) Limit Orders in the Orderbook? on the left the Buy Limits? and on the right the Sell Limits? what about the (passive) Stop Orders? any chance to get them from the Orderbook?

the (active) Market Orders happens right in the time of an activity of a Buy or Sell (Last Price). therefore you need the Time&Sales Book, right?

Edit:
Btw i wanted to know why left value is always lower than the right value? What exactly you mean by the "closest" bids and asks. Does closest mean last bid and ask?

The large numbers at the top are the latest values for the closest bids and asks. The difference between these is the "spread".

Edit:
Btw i wanted to know why left value is always lower than the right value? What exactly you mean by the "closest" bids and asks. Does closest mean last bid and ask?

The asks are what people are selling for, the bids are what people are wanting to buy for. Asks are always higher as otherwise, there would be a sale. Market buys and sells buy or sell from the closest first.

EDIT:

Bitfinex

Explanation

Explanation
Chartbuddy provides a chart which shows the change of the market depth with time.

Chart shows the market depth for the last hour, the beginning of the hour at the back, latest time at the front. The bids (what people are willing to pay) stack up on the left and the asks (what people are wanting to get paid) stack up on the right.

A depth chart indicates how much it would conceivably take to shift the price. Note that orders can be cancelled so judgement should be applied. Large orders produce a large vertical part on the chart or a "wall". By watching how walls are added, moved or removed, it is possible to make a judgement of market sentiment (or arguably just observe attempts at market manipulation).

The large numbers at the top are the latest values for the closest bids and asks. The difference between these is the "spread".

World times are also listed for several major cities.

^^ IMO, better you speak in terms of orders. (passive) Limit and Stop Orders of the one party of the deal (Buy or Sell). (active) Market orders of the other party of the deal (Sell or Buy).

[Phil_S]

Up up up !

Hopefully this time it stays up.

[ChartBuddy]

Explanation

[JayJuanGee]

Was thinking the current price action is a clear example of an irrational market. Bitcoin just got legal tender in a fucking country! But maybe the market is scared of the potential consequences. The US surely is not going to like a declining demand for their USD, which is was the only currency of El Salvador. Need to stop it in its tracks, before some other countries get wild ideas?

I was a bit afraid when Jack Mallers announced the El Salvador bitcoin adoption while the bill had not been passed yet. The US could have acted quickly. Perhaps the market was afraid El Salvador would get stopped, which would surely have been bearish news.

Let's see. I think with El Salvador now having Bitcoin as legal tender, Michael Saylor buying another chunk, and Taproot surely being activated this difficulty epoch, we might have seen the bottom for now.

Those are decent current event examples, bitebits.

In other words, it would seem that we are getting enough positive newses.. what else would any kind of reasonable (wild and crazy) guy want in order to feel comfortable about either his buying BTC at this price or at least NOT selling any BTC at this price.  

Peeps gonna do what peeps do, and hopefully NOT too many are going to be regretting what they did or failed to do now when we are looking back at these days in the near to mid term future.

[ProfTP]

El Salvador accepting BTC as legal tender is the most bullish news I've heard this year to date.

They really did it! El Salvador  - The Savior

They are showing they way for other countries now i am waiting for the first African country.

[ChartBuddy]

Explanation

[bitcoinPsycho]

https://www.bbc.co.uk/news/world-latin-america-57398274

Congress approved President Nayib Bukele's proposal to embrace the cryptocurrency, with 62 out of 84 possible votes on Tuesday night.

The president said the government had made history, and that the move would make it easier for Salvadorans living abroad to send money home.

Bitcoin will become legal tender, alongside the US dollar, in 90 days.

The new law means every business must accept Bitcoin as legal tender for goods or services, unless it is unable to provide the technology needed to do the transaction

[Gyrsur]

any statement from proudhon when he will move to El Salvador?

EDIT: BTW, what has happened to JorgeStolfi?

[Mugtaiya]

https://www.bbc.co.uk/news/world-latin-america-57398274

Congress approved President Nayib Bukele's proposal to embrace the cryptocurrency, with 62 out of 84 possible votes on Tuesday night.

The president said the government had made history, and that the move would make it easier for Salvadorans living abroad to send money home.

Bitcoin will become legal tender, alongside the US dollar, in 90 days.

The new law means every business must accept Bitcoin as legal tender for goods or services, unless it is unable to provide the technology needed to do the transaction

Wasn't it seen as legal tender by other countries before the announcement?
Could of sworn some place in Sweden or Germany viewed it as currency because they have banks which accept it.
They can make deposits to their bank accounts, so that to me is considered legal tender.

[ChartBuddy]

Explanation

[Gyrsur]

https://www.bbc.co.uk/news/world-latin-america-57398274

Congress approved President Nayib Bukele's proposal to embrace the cryptocurrency, with 62 out of 84 possible votes on Tuesday night.

The president said the government had made history, and that the move would make it easier for Salvadorans living abroad to send money home.

Bitcoin will become legal tender, alongside the US dollar, in 90 days.

The new law means every business must accept Bitcoin as legal tender for goods or services, unless it is unable to provide the technology needed to do the transaction

Wasn't it seen as legal tender by other countries before the announcement?
Could of sworn some place in Sweden or Germany viewed it as currency because they have banks which accept it.
They can make deposits to their bank accounts, so that to me is considered legal tender.

IMO legal tender means you can go in any ordinary shop in the specific country and instead of paying for the goods with the national currency (legal tender) of this specific country you are allowed to pay with Bitcoin. and the shop has not the right to decline it if it has the technical possibilities.

https://www.investopedia.com/terms/l/legal-tender.asp

Cryptocurrency and Legal Tender

The popularity of cross-border and online shopping is increasing demand for more forms of money, such as popular cryptocurrency alternatives like Bitcoin, to be recognized as legal tender. However, given official objection to such alternatives except in a few minor cases, these may still be some years away, and they do not represent legal tender in the United States or most other countries. There are many online services which accept cryptocurrencies, and this practice is perfectly legal. Due to their status as unofficial competitors to legal tender, cryptocurrencies are mostly limited to use in gray and black market activity or as speculative investments.

EDIT:

Bitcoin will become legal tender, alongside the US dollar, in 90 days.

technical it means for El Salvador shop owners etc. they have 3 months to get their stuff done to implement Bitcoin or LN payments.