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

[ChartBuddy]

Explanation

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[fillippone]

<...>
In the meantime, we are waiting for the recovery of bitcoin. Today is the last day of summer, who wants to take part in a small event, please visit:

-[FREE RAFFLE] Summer, GoodBuy...Prize Pool $70 in BTC

but but ... last day of summer is 21 September!

September 22, actually.

EDIT:
VVV Bad quoting mate, I never said that!

[cAPSLOCK]

I believe the worse the art quality is, the better the analysis.

That's still sightly nice quality... maybe next time try some pink.. but otherwise, yesh!

[cAPSLOCK]

Don Pirtle told CNBC led him to panic-sell more than $60,000 of cryptocurrency.

Well... That's more than one whole bitcoin!

But it was probably ETH or some other shit tokens.

Actually the comments are the best part.  VERY VERY negative on "crypto".  Funny that many of us here would agree with them to some extent.



Note the upvotes as well as the "Editors Pick" tag.  LOL.

I hope I will live long enough to see the end of "Still Early".

[ChartBuddy]

Explanation

[fillippone]

Bitcoin will be legal tender in El Salvador in 7 days.

First TV commercial for Bitcoin:


https://twitter.com/BTC_LN/status/1432622192005550091?s=20

Read together with me:

First Government Bitcoin Commercial.

Who would have ever thought it.

[cAPSLOCK]

HEY WOers!

I am cleaning out some of my problem channels on my little Raspiblitz node and am going to have some incoming liquidity to aim at new nodes.  I was starting to research what's out there that would likely increase my connectivity, and traffic.  And it's really hard to do... It's hard to see what channels would be USED by the network etc.

Then I had a thought!

Maybe one of you might want some inbound liquidity?  I certainly understand the whole OpSec angle etc... but I personally do not mind if you don't!  Particularly if you are a regular denizen here. 

So let me know...  In about 4 hours I will have as much as 3 million sats to open a channel with maybe more depending on if I close some more weak channels today cooperatively.  But would also be willing to go down to 500k.  My channel size philosophy has changed over the months.  I started out not really caring about size, then I set the min channel size i would accept at 1mm. And it's still there.  But with MPP active there are arguments for smaller channels as well.  But I think I still prefer aiming for 1mm at the lowest.

I am a "BOS" ranked node with a score of 11940298 putting it in the top 200 nodes. I expect that to go up a little bit as I add back the channels. I am well connected.  Well maintained on this little node, and plan to leave it up indefinitely.  I have a much larger node running on server hardware, but I might take that one down as it costs me money.  And if so, I may also migrate sats over to this little one.  But at the moment this little guy has about 2/3rds of a bitcoin liquidity, but heavily skewed to inbound liquidity, so opening a channel to you would help me!

Anyone interested?

PS.  I used to keep my channels fairly balanced.  But this is 1.  A LOT of work and not easy to do, and 2. Futile in my humble opinion.  My node keeps itself fairly well balanced with relatively ample liquidity on both sides.  So I do not care as much if channels get out of "balance" as long as they don't just sit dormant.  in fact some of my most active channels tend to have all the liquidity sitting on one side or the other of the channel and then whoosh over to the other side...

[True Myth]

i dunno what happens but i imagine it could be something like this..

dyor

D

stronghands

I'll call this the supply shock projection.

Next up, Lambo supply shock.

[ChartBuddy]

Explanation

[cAPSLOCK]

i dunno what happens but i imagine it could be something like this..

dyor

D

stronghands

I like where you put the little elbow.  I surely do not know as much as you about technical things (I still have no idea what the ichimoku clouds are)... but it seems to me that somewhere between 50-56k might be a bit of a fight, but there is a certain point where not that much is holding honeybadger back...

[Toxic2040]

Bitcoin will be legal tender in El Salvador in 7 days.

First TV commercial for Bitcoin:


https://twitter.com/BTC_LN/status/1432622192005550091?s=20

Read together with me:

First Government Bitcoin Commercial.

Who would have ever thought it.

+1 WOsMerit

[d_eddie]

Can't do much more than "indeed" you, Cap'n.

Bitcoin will be legal tender in El Salvador in 7 days.

First TV commercial for Bitcoin:


https://twitter.com/BTC_LN/status/1432622192005550091?s=20

Read together with me:

First Government Bitcoin Commercial.

Who would have ever thought it.

+1 WOsMerit

+1 WOsMerit indeed.

Kind of a big deal indeed. Imagine all the remittances to the homeland slowly crossing over to bitcoin -  people working in the USA, EU, Japan sending their hard earned money to their families in South America, Africa, Asia. Of course, the government offering a tasty incentive (30$ for El Salvador) does help to push adoption, as does the promise of no commission. But even if there were small commissions, WU and other fiat mongerers are going to be toast if this thing takes off.

[fillippone]

Kind of a big deal indeed. Imagine all the remittances to the homeland slowly crossing over to bitcoin - for people working in the USA, EU, Japan sending their hard earned money to their families in South America, Africa, Asia. Of course, the government offering a tasty incentive (30$ for El Salvador) does help to push adoption, as does the promise of no commission. But even if there were small commissions, WU and other fiat mongerers are going to be toast if this thing takes off.

Jeah... why use bitcoin when you already have Money Transfer??

Well for this reason:

<...>


https://twitter.com/jackmallers/status/1428429890957848591?s=20

Wow, so what? Jack sent 10 USD to a bloke using a couple of apps. WOW!

Obviously, this is a very superficial way of looking at this.
It could be true for someone living in a fully banked world, having access to the banking system, visa and Paypal networks etc.

This reality is not so common in the world, as you might not imagine.

On the other end of the trade, there is a guy in Nigeria.

How does he see this?



https://twitter.com/Afo_Ogunnaike/status/1428447467771662343?s=20

Everything happened without authorisations, commercial relationships, license agreements, stamps, lawyers or other frictions.
Everything happened in a trustless, uncensorable, irreversible way.
Everything with instant settlement and no fees.

Cutting middlemen fees frees resources for the more important things.

[Dabs]

It's fun to imagine Saylor in his Bathrobe mashing buy on 1k lots of bitcoin.  But not only would this take a looooong time but it would BLOW up the price.

I would love to read more about how they actually did it... is that out there somewhere?

I think Saylor mentioned he worked with Coinbase to do a bunch of buys.

For most retail exchanges, you can see limit orders. For some, you are limited to buying at whatever the rate is (market order basically). You can do it manually, but some exchanges have an api and you can have a bot do it for you all day and all night.

I once had a sell bot on cryptopia before it died, I had it set to sell a particular amount, or rather set a limit sell order just above the spread, so I always get the best price at the time, but it won't actually sell unless someone else buys it. Then the bot would just keep selling every 20 or 30 minutes, and delete any orders older than 3 or 4 hours, so it keeps doing that until all of that particular coin is gone. (ok, I was selling a shitcoin, trading it for bitcoin.)

There are more sophisticated bots now that do all sorts of things, but you can also set them up to just buy.

Also, some of the exchanges I use now have some sort of automatic rebuy / DCA built in, which you can set up.

[Toxic2040]

i dunno what happens but i imagine it could be something like this..

dyor

D

stronghands

I like where you put the little elbow.  I surely do not know as much as you about technical things (I still have no idea what the ichimoku clouds are)... but it seems to me that somewhere between 50-56k might be a bit of a fight, but there is a certain point where not that much is holding honeybadger back...

first off...dont call me shirley...   second...elbow?  its a freakin hockey stick...come on...  

As for Ichimuko kinko hyo or one glance equilibrium chart...it is mushin no shin or mind with no mind. One should not have to think about it...it just is.

anyway...thanks I think...    

+1 WOsMerit


---------

Here is a look at local time frames for today with a few notations. Stack your sats...hodl on dearly...because one of these candles is going to light off and not look back imho.

1h


4h

[ChartBuddy]

Explanation

[aysg76]

Bitcoin will be legal tender in El Salvador in 7 days.

First TV commercial for Bitcoin:


https://twitter.com/BTC_LN/status/1432622192005550091?s=20

Read together with me:

First Government Bitcoin Commercial.

Who would have ever thought it.

The government knows what you can't control have benefit from them.The time is not too late when government will be conducting awareness camps to tell people that bitcoin is future so decided you best future.Maybe hyperloop journey has already started where bitcoin is governments support.

[Hueristic]

never got that email. not sure why. didnt even find out about it till the ars article yesterday (im a regular reader there).

one guy panic sold like 60k of coin. as to why he kept that amount there instead of in his own wallet is beyond me. exchanges are for money/coin  you intend to have ready to go via buy/sell ladders. and its money/coin that you should be prepared to kiss goodbye anyway, not you keys etc.

I think the point is that coinbase is insured for USD and not BTC so if they force people to panic they are going to move into the insured asset. This is a classic FUD move.

Don Pirtle told CNBC led him to panic-sell more than $60,000 of cryptocurrency.

Well... That's more than one whole bitcoin!

But it was probably ETH or some other shit tokens.

Actually the comments are the best part.  VERY VERY negative on "crypto".  Funny that many of us here would agree with them to some extent.



Note the upvotes as well as the "Editors Pick" tag.  LOL.

I hope I will live long enough to see the end of "Still Early".

That was one person that they could verify, do you think coinbase is sharing their customer list with anyone besides the fed? They are fearmongering and whether it was to force a market move or for some other reason I can only speculate.

Afa ARS comments, yeah it seems the campaign to smear bitcoin is still in force in the mainstream, when that dissapears will be the biggest signal the planet has ever seen. Be nice to know how many of the commentors are shills and how many are just morons.

[Dabs]

I've stopped using Coinbase. There are so many other exchanges even in the US that anyone can use.

[Hueristic]

I've stopped using Coinbase. There are so many other exchanges even in the US that anyone can use.

They are the Feds Exchange.