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

[Westingcote]

Looks like we're poor again...

No one has ever become successful without adversity

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[JayJuanGee]

Bitcoin total transaction volume has exceeded $15.8 trillion for first time in seven months representing 70% of total GDP of America.

Still many says the fees is high and people prefer other currencies to make transactions.This is how BTC is taking over.

Where is that quote from, aysg76?

There should be a link.. .

In other words:

Link or it did not happen.

[Paashaas]

Amazon denies it will accept Bitcoin only exploring crypto.

It was just FUD.

[BlackHatCoiner]

Do something Bitcoin! I'm still excited about the poll.

[aesma]

Whoops, it was the previous story about blockfi where the lawyers were looking into their business and if their offerings are considered securities since they operate out of the US.
This is the major take away from this video on tether and what it can do with defi which is apocalyptic.


As for which one I'd use if I had too?
USDC

It is fairly clean being created from circle (I believe square bought them out and now is Jack in the box ) and is available from Coinbase.
But being a american company I don't know if it can be pegged to the euro.
So maybe somebody using coinbase and who is from Europe can answer this.

I think I'll look at USDC  

Reading through the lawsuit against Tether detailing its long history of moving money all over the place it reads like a series of moving money from one institution to the next as the institution grows uneasy with having Bitcoin money on its account. So they are constantly moving it all over the place until someone gets tired of them. Every second and third tier money transmitter starts blocking them, they're caught in an ancient system whose gatekeepers are trying to keep them out.

I would not be surprised that they don't have 100% reserves but their biggest problem is having a place to put the money. In the end, they will exhaust all resources. The best thing they could do is do a proof of burn. Where they literally have a neutral third party with cameras verify that they burn the dollars that come in (though illegal) and replace each one with a USDT.

Unless I'm missing something proof of burn only makes sense for assets that have a finite number, like Bitcoin. What's to prevent the FED to say : some idiots burned 50 billions dollars, so we're printing 50 billions more than the plan ?

[OgNasty]

It’s official the liquidation numbers are in. Over $1 billion was liquidated yesterday on exchanges from newbies. Imagine shorting Bitcoin with leverage and thinking you didn’t just throw your money into a dumpster fire. Moment of silence for all the doubters who tried to profit from Bitcoin’s downfall. If you didn’t learn your lesson, feel free to reopen some short positions here.

[cAPSLOCK]

BTC "locked" in DEFI is at an all-time high at over 185 000 BTC.  ETH locked in DEFI was rising slightly while the price was dropping to 1750$, which led me to believe this was not going lower.  Both amounts are stabilizing but I think over the month of august/september we will see an acceleration in amounts locked in DEFI.  And remember defi means = locking up capital, borrowing USD, buying more BTC/eth, rinse, repeat.
60k was a first top, real top of cycle will be most likely 90k - 180k depending on how crazy people get.  Probably this speculation season, autumn.  Thats my 2 satoshis

I have never looked into how locking Bitcoin in an ETH contract works.  Because I think ETH is a rube goldberg scamtraption. 


I am assuming it's something like HTLCs on the BTC side.

But I would like nothing more than some attack surface get exploited and the BTC get lost.  I guess that's terrible.  But if people are only going to learn by trying to LICK the damn stove, then it might as well be on HIGH.

[cAPSLOCK]

This is a BEAUTY of a bullflag.  It's already up so much, but I do not seeing it stay here for much longer.  



I say 70% chance breaks up which is possibly a run to ~44k (!!)
30% chance we Bart back down ~35.

Those numbers are conservative... I am adjusting for my bias since internally I am way better than 2:1 for.

OK, sadly there's the possible bart-down.  Although it could also be a head fake.  Did the news come out or something?

[Richy_T]

Oh FFS. Pick yourself up Bitcoin and get back on the rally.

[shahzadafzal]

Who’s this @erikfinman?? Never heard of him… so called “Youngest Bitcoin Millionaire”.

And why is he scamming people?

So apparently he made a phone “Freedom Phone” which is actually made in China but not only this, it’s the exact copy of the same phone this Chinese manufacturer already selling on much cheaper rates.

Watch this https://youtu.be/3KPY-gjmHWA

[cAPSLOCK]

Seriously though... this is a dump for ants, for sure.  I am not capitulating my hopium mask here.

[Richy_T]

So apparently he made a phone “Freedom Phone” which is actually made in China but not only this, it’s the exact copy of the same phone this Chinese manufacturer already selling on much cheaper rates.

It has a different OS installed. It is definitely overpriced but that doesn't make it a scam. Though I believe there's another aspect that does make it scammy I think.

The first thing people will be asking if they get it is how to install the play store and google maps.

[Farmer Bill]

Amazon denies it will accept Bitcoin only exploring crypto.

It was just FUD.

Perhaps the good Mr. Bezos will run a node in space, and adopt Bitcoin as the currency of space.

Some sort of universal currency will be required, for those air and water top ups and the latest Kindle novel for bored astronauts.

[Richy_T]

Amazon denies it will accept Bitcoin only exploring crypto.

It was just FUD.

It will be denied right up until the second it goes live.

With that said, I never put any stock in this rumor. The price rise was nice, I guess.

[UnDerDoG81]

Tether FUD perfectly timed to stop price going up. Pathetic. It was too early for moon but I was sure 45K is possible. Let's see.

[ChartBuddy]

Explanation

[HI-TEC99]

Amazon denies it will accept Bitcoin only exploring crypto.

It was just FUD.

It will be denied right up until the second it goes live.

With that said, I never put any stock in this rumor. The price rise was nice, I guess.

I'm happy with anything above $30k and a nice slow increase in the price over the summer. $30k is great compared to this time last year.

LOL classic bitcoin

I know!  And look at it!  It's clawing it's way right back up... lol.

It was sub £10k a week ago. Anything above £11k is good.

[Torque]

Unpopular opinion:

1. Large well known companies buying and holding large amounts of bitcoin is bullish news. (because it eventually raises the price by taking btc off the market)

2. Large well known companies announcing they will accept bitcoin for goods/services is... well, not really bullish. (because it doesn't actually do that)

Some would say "Well #2 adds to bitcoin's legitimacy in the public's eye." Nations are now making it a legal currency. Tesla bought $1B worth. JP Morgan trades it and says clients can buy it. We have already achieved "legitimacy".

Wake me up when Bezos, Gates, Dimon, and Buffett say they bought several billion worth of bitcoin. Then I might actually get excited.

Until then...zzzzzz.

[JayJuanGee]

https://twitter.com/CryptoWhale/status/1419647049729990657

https://tether.to/tether-responds-to-bloomberg-article/

Today, Bloomberg published an article based on unnamed sources and years-old allegations, patently designed to generate clicks. This article follows a pattern of repackaging stale claims as “news.” The continued efforts to discredit Tether will not change our determination to remain leaders in the community.

Tether routinely has open dialogue with law enforcement agencies, including the U.S. Department of Justice, as part of our commitment to cooperation, transparency, and accountability. We are proud of our role as industry leaders in promoting cooperation between industry and government authorities in the U.S. and around the world. We remain committed to our customers and the industry-leading technology and transparency that has led to our growth.

It is business as usual at Tether, and we remain focused on how to best serve the needs of our customers.

For sure, people wanting to jump on the Tether bashing bandwagon whenever they get a chance, even bitcoiners who should know better than to blanketly consider Tether as if it were some kind of meaningful "bad guy" in this whole situation.

Tether remains the oldest of the stable coins, and sure there are a lot of imitators who are trying to be more compliant with various Government regulators - but probably tether would be more likely to stand up for the ideals of bitcoin and NOT throw bitcoiners under the bus, same with Bitmex and even Binance (yes, I know that Binance has a lot of shitcoin products and also allow pretty outrageous leveraging/margin trading products).. there are desires to vilify these entities and to try to get compliance and to fall in line in order to attempt to create inroads to BTC.. which remains a very difficult thing for various governments and also status quo financial institutions that are seeking to employ more subtle misinformation campaigns and to cause confusion amongst bitcoiners in a variety of ways... when and if possible.

[Millionero]

Something big is about to happen... I feel it in my duodenum.

Nothing like a green dildo in the old duodenum.
#nohomo