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

[DaRude]

Interesting article on the possible effects the sanctions against Russia have had on the BTC price:

https://uk.yahoo.com/finance/news/bitcoin-crypto-cryptocurrency-proves-sanction-breaker-for-russia-122514733.html

“Being able to transact value in bitcoin also helps Russian oligarchs go around the western sanctions. It may also help Russian companies and even the Russian central bank to move funds as these entities can no longer access US dollars, and most of the Russian banks are no longer part of the SWIFT system.”

It remains to be seen how much corn the Russian Central Banks actually holds. What they don't hold, they've got to buy. With their external assets locked, they must pay mostly in rubles or gold. Bullish either way ("gold would be better" says the corn seller, and so do we).

Also talks about how pressure is mounting on exchanges to block transactions in Russia:

Cryptocurrency exchanges such as Coinbase (COIN) and Binance are now facing pressure to block transactions with Russia.

Mykhailo Fedorov, Ukraine’s vice-prime minister, on Sunday called on “all major crypto exchanges to block addresses of Russian users”, saying it is “crucial to freeze not only the addresses linked to Russian and Belarusian politicians, but also to sabotage ordinary users”.

However, the chief executive and founder of Binance said it was not the place for cryptocurrency exchanges to block transactions.

“To unilaterally decide to ban people’s access to their crypto would fly in the face of the reason why crypto exists,” Changpeng Zhao said.

I tend to agree more with Zhao on this one.
But then my home and surrounding town aren't the ones getting bombed.

You're right about the (fortunate lack of) bombs in your backyard, but if exchanges start to lock people out unilaterally because "bad criminal", that would seriously undermine bitcoin. I hope the general attitude of exchanges turns into NOT locking anyone out, even under government duress. Yeah, yeah, dream on, but I think my point is clear.

True, this excuse could set a precedent for shutting off exchange access for any reason in the future including lame excuses such as "well inflation is too high so you can't use BTC at the moment. Don't worry your BTC is safe at the moment" (sure!). Wouldn't surprise me.

I'm lost at to what side they're on. Its not a central bank buying through Binance its regular people. That devalues RUB even more, which i thought was the plan? Russia is trying to hold the price of ruble by implementing currency controls that limit transfer of funds outside of Russia. BTC bypasses that, but now people want to stop that    

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[tertius993]

Whatever scam artist put that together, tell him to get at least basics right, neutral countries Switzerland, Austira, Sweden to vote in favour of war aggression. Maybe they have covid?

I think the person who needs to get the basics right is you.  A cursory check will reveal that the resolution is condemning the Russian aggression in Ukraine and that Austria, Sweden and Switzerland did all vote in favour.

[savetherainforest]

Best...background...ever.  

I like your style. Wanted to merit you but I haven't got my weekly wage yet.

[ChartBuddy]

Explanation

[JayJuanGee]

.....

Oh gawd .... save my computer from the spit-up...
When Bawb tells you to get some help, you know you got issues.
 

Hey, don't be that doing multi emoji thing, like that weird uncle strf character.
Else the wo bro community may start thinking you are a nutter too...

ah ha!!!!

I had not realized that Save the RF was an uncle.. and surely no one can reach his level of nutso-confusion whether referring to the combination of his emojis, font emphasis, juxtaposition of weird streams of unrelated thoughts (if they could be labelled as such?), etc.

Don't worry..! You can't unlock my enigma or decipher me very soon. You need to get old AF!.. then bored, to achieve my status of giving no f^cks and contemplating about eternity & sh!t.

In other words, your brain (to the extent that you may have ever had one) has converted from a cucumber to a pickle..

Sorry for your loss.

 

[savetherainforest]

Today is a good day.

For me not for Ukraine.

I have my corn stash on wallets I control, I have some corn for trading (no risk, just that as the price goes up, the corn is sold, so it's a given that at some point all that corn may be sold), and some corn for trying to earn corn in other ways. That last bit is probably too much, but I've reduced the risks I take, to a point. In January I got greedy, something was too good to pass up, with almost no risk, and I took from my stash to put into that "investment".

Things went wrong, not with the people involved, but the site crashed badly. There was also the police involved almost simultaneously.

Needless to say I slept badly for the past month and a half.

Now the site has come back, and the corn is back in my stash. I even reduced the usual risked amount and increased my stash, and will go back to hodl that without anymore exception whatever the offer !

You should use a DEX.          

[BobLawblaw]

#LNMETA

Finally back in the Terminal rankings with my new node config. Have two channels open pending, one at over 24 hours now. Mempool as been above 1sat/vB for that long.

Not in a hurry for the channels to open, TBH.

Nice to see on-chain fee competition.

[becoin]

Now if it skyrockets to 60k then maybe it's Russian buying. But who in their right mind would sell a bitpenny for any amount of worthless Russian currency?

It is not Russians buying. It is Americans selling paper oil, paper gold, and paper bitcoins. Fed is trying to save the dollar by short selling bitcoins through proxies. It is the US plunge protection team trying to corner the oil, gold, and bitcoin markets by "whatever it takes" desperate measures. They have no reserves. All they dump on the market is just paper because this is all they have! And, of course, insiders are buying the real stuff.

https://edition.cnn.com/2022/03/01/politics/us-strategic-petroleum-reserve-release-latest/index.html

[ChartBuddy]

Explanation

[Arriemoller]

I got this email today, what do you think, should I reply  

"I am Azim Hashim Premji, an Indian business magazine, investor and

philanthropist. I am Chairman of Wipro Limited. I have 25 percent of my

personal wealth in applications. And I also promised the rest of 25% give away

in 2022. I decided to give you 1,000,000.00 donation euros *. If you are

interested in my donation, contact me for more information. I want it too You

are part of my charitable foundation as soon as you get the money so we can

help reconcile the poor

      You can also read more about me from the following link"

https://en.wikipedia.org/wiki/Azim_Premji

[becoin]

The 2022 Nobel Prize in Physiology or Medicine should be awarded to Putin. There is no Covid anymore.

[Toxic2040]

+1 WOsMerit

its the abstentions that stand out to me


Also...missed this about the weekend launch in Baikonur ..Apparently the Kremlin wants guarantees that OneWebs sat wont be use for 'military purposes'. And basically threatening to steal/confiscate the units. More posturing.

MOCКBA, 2 мapтa. /TACC/. Pocкocмoc нe бyдeт зaпycкaть paкeтy-нocитeль "Coюз-2.1б" c бpитaнcкими cпyтникaми cвязи OneWeb, ecли дo вeчepa 4 мapтa нe пoлyчит гapaнтии, чтo oни бyдyт иcпoльзoвaтьcя тoлькo в гpaждaнcкиx цeляx. Oб этoм зaявил в cpeдy гeнepaльный диpeктop гocкopпopaции Дмитpий Poгoзин.

"Mы ceгoдня дeлaeм зaпpoc нaшим фpaнцyзcким кoллeгaм из кoмпaнии Arianespace и кoмпaнии OneWeb c тpeбoвaниeм пpeдocтaвить нaм в тeчeниe двyx cyтoк иcчepпывaющиe юpидичecки oбязывaющиe гapaнтии тoгo, чтo кoмпaния OneWeb нe бyдeт иx иcпoльзoвaть в вoeнныx цeляx, нe бyдeт пpeдocтaвлять cepвиcы cooтвeтcтвyющим вoeнным вeдoмcтвaм", - cкaзaл Poгoзин в эфиpe тeлeкaнaлa "Poccия-24".

Oн yтoчнил, чтo гapaнтии дoлжны быть пoлyчeны дo зaceдaния кoмиccии, кoтopaя paзpeшaeт зaпpaвкy и зaпycк paкeты. "Ecли дo 21:30 4 мapтa мы нe пoлyчим пoдтвepждeния, paкeтa бyдeт cнятa co cтapтa и cпyтники бyдyт oтпpaвлeны в мoнтaжнo-иcпытaтeльный кopпyc", - дoбaвил oн.

MOSCOW, March 2. /TASS/. Roscosmos will not launch a Soyuz-2.1b carrier rocket with British OneWeb communications satellites unless it receives a guarantee by the evening of March 4 that they will be used only for civilian purposes. This was announced on Wednesday by the director general of the state corporation Dmitry Rogozin.

"Today we are making a request to our French colleagues from Arianespace and OneWeb with the requirement to provide us with comprehensive legally binding guarantees within two days that OneWeb will not use them for military purposes, will not provide services to the relevant military departments," he said. Rogozin on the air of the TV channel "Russia-24".

He clarified that guarantees must be received before the meeting of the commission, which authorizes the refueling and launch of the rocket. "If we do not receive confirmation before 21:30 on March 4, the rocket will be removed from the launch and the satellites will be sent to the assembly and test building," he added.

https://tass.ru/kosmos/13928657

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It will not get easier for some time to come methinks. A catalyst event has happened. Another line drawn....for the first time in a generation not in the sand but again through the heart of Europe. Its eruption heard around the globe but with the shockwave not yet truly felt.

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the noon wall report

Bitcoins price softening somewhat today as oil and stonks rebound after sleepy Joe's SOTU address last night. Currently trading around $44.2kish on moderate volumes.

dyor


cautious resistance hovers overhead as price consolidates over staunch support at $42,511.0     carry on
D


some possible scenarios   this weekly chart shows the largest structure in bitcoins history..this is where mainstream adoption takes place and the subsequent rally new all time highs are observed  
the encouraging fact is that it can be clearly seen that the inclination of the tenken sen and kijun sen crossing are on the rise   if span A support is maintained we could very well see an ATH this year as another TKx will present itself
if it goes the other way and sentiment changes I doubt it will go or remain much under the lows that have been recently seen locally   I am having a hard time imagining such a scenario at this moment in time where bitcoins price just dives down into the mid twenties or thirties
W

stronghands

[ivomm]

"It's possible to have more than one reserve currency"

— Federal Reserve Chairman

https://twitter.com/DocumentingBTC/status/1499072124811685889

Is he REALLY hinting about BTCitcoin? I mean, that would be HUGE! First of all, I've never ever imagined BTCitcoin to be adopted as a legal tender by any country. After El Salvador did it, I thought, "may be after 5 or 10 years USA and many more countries will do the dame". But so fast, even before that clown Gensler approves a spot ETF?!? OK, may be he meant something else, but sooner or later it will happen.

[Farmer Bill]

The 2022 Nobel Prize in Physiology or Medicine should be awarded to Putin. There is no Covid anymore.

The Old Norman punishment of castration and blinding would be more appropriate for Putin.

[ChartBuddy]

Explanation

[bct_ail]

"It's possible to have more than one reserve currency"

— Federal Reserve Chairman

https://twitter.com/DocumentingBTC/status/1499072124811685889

Is he REALLY hinting about BTCitcoin? I mean, that would be HUGE! First of all, I've never ever imagined BTCitcoin to be adopted as a legal tender by any country. After El Salvador did it, I thought, "may be after 5 or 10 years USA and many more countries will do the dame". But so fast, even before that clown Gensler approves a spot ETF?!? OK, may be he meant something else, but sooner or later it will happen.

Could it be that he was talking about CBCD?

[becoin]

"It's possible to have more than one reserve currency"

— Federal Reserve Chairman

https://twitter.com/DocumentingBTC/status/1499072124811685889

Is he REALLY hinting about BTCitcoin?

No. He is hinting about yuan. China is the master of the world now. Both RF and US entirely depend on China!

[DaRude]

"It's possible to have more than one reserve currency"

— Federal Reserve Chairman

https://twitter.com/DocumentingBTC/status/1499072124811685889

Is he REALLY hinting about BTCitcoin? I mean, that would be HUGE! First of all, I've never ever imagined BTCitcoin to be adopted as a legal tender by any country. After El Salvador did it, I thought, "may be after 5 or 10 years USA and many more countries will do the dame". But so fast, even before that clown Gensler approves a spot ETF?!? OK, may be he meant something else, but sooner or later it will happen.

Hes talking about global reserve currencies. 99% sure hes talking about China's CNY. But what interesting times we live in where Federal Reserve is discussing the consequences of USD not being the (only?) reserve currency.  

[Biodom]

Yes, China is a big winner here, unfortunately.
Jamie Dimon tries to give a hint about it to the policy makers;

https://www.bloomberg.com/news/articles/2022-02-28/dimon-says-swift-sanctions-may-bring-unintended-consequences

EU/US made China a new Switzerland of sorts. I don't think that it is a good development, on the balance.

[becoin]

Yes, China is a big winner here, unfortunately.
Jamie Dimon tries to give a hint about it to the policy makers;

https://www.bloomberg.com/news/articles/2022-02-28/dimon-says-swift-sanctions-may-bring-unintended-consequences

EU/US made China a new Switzerland of sorts. I don't think that it is a good development, on the balance.

EU is a joke. EU is a US property. Russia is the only country that can survive such sanctions. Just imagine if France or Germany are cut off from SWIFT by Americans? They will become shitholes in less than 2 days!