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

[Gachapin]

dumpster fire being burning:



SEC Claims All of Ethereum Falls Under US Jurisdiction
In a civil complaint against a crypto influencer, the SEC suggested that it believes the U.S. government has jurisdiction over all Ethereum transactions.
https://decrypt.co/110107/sec-ethereum-us-jurisdiction



SEC lawsuit claims jurisdiction as ETH nodes are 'clustered' in the US
https://www.fxstreet.com/cryptocurrencies/news/sec-lawsuit-claims-jurisdiction-as-eth-nodes-are-clustered-in-the-us-202209200404

“The U.S.-based investors in Balina’s pool irrevocably committed to the transaction when, from within the United States, they sent their ETH contributions to Balina’s pool. At that point, their ETH contributions were validated by a network of nodes on the Ethereum blockchain, which are clustered more densely in the United States than in any other country. As a result, those transactions took place in the United States.”

Airplanes are clustered more densely in the US than in any other country. As a result, US claims custody over everything on all of the airplanes.
Geese are clustered more densely in the US than in any other country during their migration. As a result, US claims custody over all geese.
Cars are clustered more densely in China than in any other country. As a result, China claims custody over all cars.

Oh wait it can go both ways, setting up another abhorrent precedence again, strike the last one.

Seems their logic is something like:

If you use airplanes in the US to perform illegal stuff, we don't care if you have also used planes for that stuff outside of the US.

They see a high enough probability that some of these investments were done through (and in) the US.  And at least partially they may be right.


However, the thing is their arguments don't have to be fully logical.  It's just a matter of being able to succeed with these arguments legally.

This kind of loose argumentation might also pose a risk for Bitcoin in the future, when it comes to legal decisions.  

Problem is the set precedence, if some X blockchain will be mined in China/Russia/Iran more than any other country, does that now mean that Chinese/Russias/Irans laws should be applied to all transactions on that blockchain?

american exceptionalism, I guess

[OROBTC]

...

Blockchain explorer mempool.space has just gotten even more interesting.  They now have a diagram for each TX, which nicely complements the other visual tools.  One of the things I like the best about is it is useful for deciding how much of a fee you want to pay.  Before this, I almost always paid too much, losing them sats...

Anyway, here is an interesting coinjoin transaction:

https://mempool.space/tx/62c3fbd39790cc8157ac4a704700b0398f0b385f96589cf2b77b937a09e0fdce

[ChartBuddy]

Explanation

[xzy887]

btc is just going to create derivatives on top and kill any price action.

[ImThour]

...

Blockchain explorer mempool.space has just gotten even more interesting.  They now have a diagram for each TX, which nicely complements the other visual tools.  One of the things I like the best about is it is useful for deciding how much of a fee you want to pay.  Before this, I almost always paid too much, losing them sats...

Anyway, here is an interesting coinjoin transaction:

https://mempool.space/tx/62c3fbd39790cc8157ac4a704700b0398f0b385f96589cf2b77b937a09e0fdce

If you are lazy to click, this is how it looks like:

[ChartBuddy]

Explanation

[OutOfMemory]

There's low hanging fruit too, no?.. and maybe a lot of the plastic does float to the surface.. perhaps perhaps.. are there any garbage patch experts in these here parts? 

I suppose that I could look it up on the interwebs, if I was more ambitious.

Who's paying for it?

What do they do with the garbage?

I heard that recycling is a scam, and it doesn't really happen on the scale that we had been told in the 70s... so there are various differences in the kinds of plastics that would NOT have much if any "recyclable" value... so then which kinds of plastics can actually be recycled.. and then are they sortable.. or are we just being sold a bag of tricks.. and there is not much if any value in recycling a large number of items that we previously thought to be recyclable?

Well, to add some more cents, there actually is Recycling (sort of), but the process/cycle it's not repeatable infinitely. Waste materials are ground to dust, added to various materials (you probably don't want to know about some of them, really...). These materials are then used in the making of products, the backside of floor panels, for example, as a filling material for all kind of uses, or even "green" plastic products.
But materials degrade and dissolve, become waste again, and then, even if fed into another cycle, a certain part slips into the environment. The pollution is delayed, it reminds me a bit of nuclear waste, which is just stored for future use (or catastrophe. better read the fine print...).
We could agree that plastic recycling is at least slowing down pollution through microplastic, but the majority of plastic waste is still just shipped to and buried in Africa or some other places, hopefully not those with a similar population-to-drinking-water ratio...
It just adds up to the problems we already brought to this world without knowing a solution. Thinking about tomorrow is fine, but one should think about next year, too 

[ThemePen]

Source

[ChartBuddy]

Explanation

[OutOfMemory]

btc is just going to create derivatives on top and kill any price action.

BTC is not going to create anything like that. But it's a known secret that the "financial elite" want to "tame Bitcoin" by incorporating derivatives.
In the long run, scarcity will strike. Nobody will get fuck-rich within a merket cycle when getting in now, but just watch at the whole picture while zooming out.
Coins on the exchange without trading them is just dumb, and lazyness probably never led to positive results.
If you got fiat you don't need for longer times, buy Bitcoin and protect your holdings. Thinking long term is crucial for success. You don't have to live the monk life to get more "money you don't need", but if you get comfortable with your living situation, you will identify a certain amount of money you are able to spend through DCA and lump sum strategies. From the "richest man of babylon" view, you could just easily look at your money as "future bitcoin" holdings. But first, you have to believe in Bitcoin.
Hope is weak, trust is strong. If you hope for high fiat gains to buy you stuff to show off to whoever, your'e still believing in fiat. Saylor pretty set some marks and dropped some strong statements what trust in Bitcoin really means. It needs a dramatic shift of view on the ecosystem.

We are all Satoshi.

EDIT: The term i was looking for was actually dedication, but i'm too lazy to work over the above block of text  

EDIT2: Astronomy news... I took everything apart and could actually repair some minor things, lowering repair cost. The mount is toast, but i spotted a better one on the 2nd hand market. If i make some bucks out of the defective parts on ebay, i should be able to replace it to get to do astrophotography again. I originally decided to assign a lower priority to restoring my astro gear, but since then i was looking at a clear night sky for two times already...

[RD_BTC]

BREAKING: Royal Family of Dubai company partners with CoinCorner to facilitate Bitcoin transactions in the UAE.

Source: Bitcoin Magazine

[slowlyslowly]

Source

I thought the 300 wma was a better indicator at least of what might replace the 200 wma as a long term bottom price marker for being in really good buying territory

[ChartBuddy]

Explanation

[shahzadafzal]

FYI

theymos doing what he does best...

Bravo....

Note that I've decided to suspend ad sales. These auctions will probably be permanently ended, and I'm not sure whether or in what form advertising in general will be continued. Maybe some ads will go up again fairly soon, or maybe there will never be any more ads; I haven't decided yet. The main reasons for this decision are:

Firstly, I'm finding it too difficult to determine which services are legit/safe and which are not. It takes me 30+ minutes to research each new service to reach at least some level of confidence in it, but at the end of this I often still don't feel fully confident. Bitcointalk.org is meant to be operated "as a service to the community", so it's very important to me that bitcointalk.org not be seen to be putting profit above the interests of its users. (I've been kind of shocked at the crypto-related ads that are shown on TV, which are often way beyond anything I'd accept here. And I'd like to tighten our standards.)

.....

Finally, bitcointalk.org has a large reserve of BTC, so we're able to continue operating without ad revenue for many years. It's not even necessary to cut expenses or find replacement sources of revenue anytime soon, and I currently have no solid plans to do these things. I do regard it as less than ideal to be operating at a constant loss, especially because it constraints any desired future growth in expenses. Improving this situation will be on my mind in the coming years, but luckily it need not be a high priority.

[xzy887]

BREAKING: Royal Family of Dubai company partners with CoinCorner to facilitate Bitcoin transactions in the UAE.

Source: Bitcoin Magazine

Not only that, the Seed Group will help CoinCorner expand their operations in the UAE and access top decision makers in the public and private sectors. If there is good news of btc around, we can see Btc up very soon.

Source: Bitcoin Magazine

[ChartBuddy]

Explanation

[mRTHroo]

The market's regime change has mostly been driven by increasing inflation, higher interest rates to combat it, and the ensuing impact on stocks as they react to a greater cost of capital. According to market expectations, disinflation would arrive sooner and the Fed's ability to raise rates further would be more constrained. That hasn't happened, and rate increases throughout the globe are continuing as a probable earnings recession for the United States is developing before the end of this year.

The market is essentially providing room for the Fed funds rate to increase another 145 basis points before flipping over, as indicated by the 2-year Treasury yield, which is currently slightly under 4%. The market currently expects a 50% likelihood that the Fed would increase interest rates by 200 basis points to a range of 425–450 by the end of the year. during the next three meetings.

Details Here

The market's best estimate is that the Fed will raise rates by 75 basis points tomorrow, by 75 basis points again in November, and by 50 basis points in December.

The eurodollar curve displays the same pattern, and we can see that the market now genuinely "believes" the Fed after initially rejecting its rhetoric and predicting significant reductions in interest rates in early 2023. The market now expects the Fed to finish raising rates in March 2023 after reaching an estimated federal funds rate of 4.7%.



When inflation reaches 5%, it never decreases unless fed funds rise above the CPI. Because of the size of the asset bubble and the harm that would result, I honestly don't think we'll make it.



The abnormally flat and frequently inverted Treasury yield curve illustrates how uncommon the current market environment is. The short end of the curve will likely continue to expand above long-end rates as interest rates are projected to rise over 4% before the year is out.

[ChartBuddy]

Explanation

[DVlog]

I heard that recycling is a scam, and it doesn't really happen on the scale that we had been told in the 70s... so there are various differences in the kinds of plastics that would NOT have much if any "recyclable" value... so then which kinds of plastics can actually be recycled.. and then are they sortable.. or are we just being sold a bag of tricks.. and there is not much if any value in recycling a large number of items that we previously thought to be recyclable?

Heard about a new kind of super worm that feeds those plastic that nature can not dispose of. Recycling cost more money than the value of goods it could produce. The only thing govt can do is to force companies to collect their plastic and recycle those by themselves Or force them to use any eco-friendly materials.

The way our environment is polluted by us it will be difficult to recover from it that easily.

[OutOfMemory]

I heard that recycling is a scam, and it doesn't really happen on the scale that we had been told in the 70s... so there are various differences in the kinds of plastics that would NOT have much if any "recyclable" value... so then which kinds of plastics can actually be recycled.. and then are they sortable.. or are we just being sold a bag of tricks.. and there is not much if any value in recycling a large number of items that we previously thought to be recyclable?

Heard about a new kind of super worm that feeds those plastic that nature can not dispose of. Recycling cost more money than the value of goods it could produce. The only thing govt can do is to force companies to collect their plastic and recycle those by themselves Or force them to use any eco-friendly materials.

The way our environment is polluted by us it will be difficult to recover from it that easily.

(Future) global government, yes. Otherwise it makes no real sense to save the earth in the US while China (as a stupid, simple example) destroys it.
FYI The vast majority of pollution in China basically are caused by western companies, while the same are currently trying to greenwash themselves in the US and Europe.

Would be cool if you could deliver "heard about" soures  
EDIT: Are you even sure that the worm doesn't just shit out the plastic at the other end?