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

[OgNasty]

The market can’t quite make up its mind on a direction to take, but it is doing it’s best to liquidate as many bulls and bears as possible while it decides. I’d urge people not to be making reckless bets right now to try and recoup losses. Now is the time to be buying BTC and taking it off of exchanges. If you’re leaving funds of any kind on exchanges right now, you should be prepared to lose it.

[goldkingcoiner]

The market can’t quite make up its mind on a direction to take, but it is doing it’s best to liquidate as many bulls and bears as possible while it decides. I’d urge people not to be making reckless bets right now to try and recoup losses. Now is the time to be buying BTC and taking it off of exchanges. If you’re leaving funds of any kind on exchanges right now, you should be prepared to lose it.

At this point any further dips will be pure market manipulation to shake the weak hands. No way the whales are going to miss out on this chance. As far as exchanges go, I would agree. But I would also agree with that assessment if we were at 100k and rising 10% everyday.

[Dubaian]

SBF’s investments:

https://twitter.com/Crypto_Crib_/status/1591095429294440449?t=SdM5E8EA-T8wZkLl8b63Sw&s=19

[Biodom]

FYI: if you had a LedgerX account (like Deribit, but for US folks), then you are apparently, OK, even if you had something there.
https://www.reddit.com/r/Bitcoin/comments/ysc103/ftx_officially_bankrupt/

[BitcoinBunny]

Why did anyone trust that guy in the first place? I mean his name is "Bankman". Didn't THAT give it away?!


 

[_morghulis]

SBF’s investments:

https://twitter.com/Crypto_Crib_/status/1591095429294440449?t=SdM5E8EA-T8wZkLl8b63Sw&s=19

From TOP to BOTTOM.

[ChartBuddy]

Explanation

[Toxic2040]

wen i see bitcoin NOT dump harder than every shitcoin out there
wen i see bitcoin PUMP harder than useless overhyped, overshilled, overpriced shitcoin out there
because over the last few years...even during the ATH run up...it was still observed
I don't get it....grateful for that....and at this point happy to see all these financiers burn hard



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Happy Veterans Day folks...a big thank you to all that have served or are serving.

[suchmoon]

SBF

I still don't know why we need to care about this shitcoining douchenozzle and why it's taking up pages of WO... can anyone please ELI5 the relevance to Bitcoin?

[shahzadafzal]

To be clear, what I posted was some nice orange-pilling copypasta I found on Twitter.

Glad you folks are on your toes.

Too late… I already reported it to the authorities!

[wachtwoord]

SBF

I still don't know why we need to care about this shitcoining douchenozzle and why it's taking up pages of WO... can anyone please ELI5 the relevance to Bitcoin?

Because it affects price (short term).

Dumb people losing their money because they deposited it with this shady exchange have lost liquidity which is subsequently removed from supporting the Btc price. On top of that speculators saw this coming and are front running like crazy. Next up momentum speculators.

Sit on your hands and you'll be fine but this topic is about price (and the buy and sell walls) so the content is OT.

[fillippone]

SBF

I still don't know why we need to care about this shitcoining douchenozzle and why it's taking up pages of WO... can anyone please ELI5 the relevance to Bitcoin?

There are many implication to the Bitcoin world.
I tried to enumerate those on a different thread of mine I don’t want to shill here, but of course none of us is worried about losses for FTT holders or SBF himself..

Why did anyone trust that guy in the first place? I mean his name is "Bankman". Didn't THAT give it away?!


 

I tought it was the FRIED part the most compelling one…

[Paashaas]

Without FTX downfall Bitcoin would've been pumped to $25k - $30k which means it bottomed out in June.

I don't expect going even lower than this as long as no more blowups are happening.

[BitcoinBunny]

Without FTX downfall Bitcoin would've been pumped to $25k - $30k which means it bottomed out in June.

I don't expect going even lower than this as long as no more blowups are happening.

Next up we find out Binance invested every BTC that it ever held into a chocolate teapot factory owned by the esteemed Wanka Wakanda, 2nd prince of Nigeria.

[cygan]

[ChartBuddy]

Explanation

[Dubaian]

Always remeber this lesson, Not your keys not your Bitcoin BTC  BTC

[Zeunerts]

I might be an newbie by rank but I have had my bitcoins so long now that the events this past week didn’t impact me at all. In a few years, this week event will not be any different all other shit we have been through the past 5-6 years. All hacks, China bans and what not.

What I can not understand is how people and businesses still keep bitcoins on the fucking exchanges..

CODL HODLING

[ChartBuddy]

Explanation

[philipma1957]

The real issue perfectly illustrated here.

I got this email today. From KuCoin


"Dear KuCoin Users,

As the People’s Exchange, the safety and security of users’ funds are our top priority. As part of our dedication to transparency and to strengthen trust in the industry, we are taking the following actions:

1) As we have announced before, we are working on the Merkle-tree proof-of-reserves. The third-party auditor Armanino LLP , a leading audit firm requires about one month to complete the audit and we will publish the proof in early December.

2) We are immediately sharing details of our hot and cold wallet addresses. From day 1 of building KuCoin, we have been transparent to our users, and we are committed to continue with full transparency.

Here, see an overview of our hot and cold wallet addresses and their current holdings:

BTC  ( 20,504 BTC)

ETH  ( 180, 299 ETH)

USDT  ( 1,075,909,241 USDT)

USDC ( 365,722,839 USDC)

KCS    (69,601,075 KCS)

The snapshot was taken on 11/11/2022 at 7:00 UTC and does not represent all our holdings. Only major tokens on BTC, ETH, TRX , KCC, ALGO, ABR, OPT ,EOS are included. The full report of our audit will give even greater detail. In addition, we are staking 29,696 ETH as the Ethereum PoS node, and each node has 32 ETH on the address. Due to the excessive number of node addresses, we will not disclose them one by one here.

For more details, please check the overview of  KuCoin's wallet addresses or the data from nansen portfolio."



Lets do some quick math

the real coin = BTC and 20,504 x 16,800 = 344,467,200.

so 344 million correct

but USDT = 1.075 billion
and USDC = 365 million

this is pretty much on all the exchanges "stable coins" it this case 4x that of BTC value.

My apologies for the other coins ETH, KCS

they are show as part of the quote but still yet another attack vector against btc

180,000 x 1247= 224,460,000 eth
69,601,075 x 7.73 = 538,016,309 kcs

so btc 344 mill
usdt+usdc+eth+kcs = 2.202 billion in "fake" coins at worst

or to be nice just "kcs" = fake well that is 538 million kcs vs 334 million btc.

all of the above means very fucked up.