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

[Biodom]

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


 

I would focus on 'fried' 

More seriously, though, if you ever played on exchanges/yield providers, your chances to be intact are pretty low after:
1. MtGox
2. Bitfinex
3. BTC-e
4. Celsius
5. FTX
6. various defi hacks
7. ...

However, I am a bit miffed about the fact that M. Saylor went on huge margin buying all that btc, even though he says that his liquidation price is very low.
He should have bought half.

[HI-TEC99]

.....
And afaik, because of the secure element, Ledger is not fully open source.  So leaving your funds "on" a Ledger is a bit like trusting an exchange...

But yeah, you do you

When some employee steals funds off a Ledger wallet because not open source, let me know.
My bank teller knows my account number. So far, I'm still good.
Personally, I'm more concerned about Amazon knowing my cc number.
But yeah you do you too...

Btw...that reminds me, I'm gonna be remixing my late bandmates song "Paranoid Delusions"

Really bad comparison...
The funds in your bank are insured, if there are issues.  Ledger company will show you the finger if their hardware fucks up....  
...

The Cyprus banks ripped off someone here for hundreds of thousands of euros when they went bankrupt years ago. That's the model the EU intends to use for the whole EU next time the banks go bankrupt. So if there are issues...

You are right.
But if I'm not mistaken we were rather talking about security of ATMs vs HW wallets, not about problems that occur due to fractional reserves or the like

Agreed.

[Gachapin]

1.3 mil a year and that's his setup? Hmm

This guy works from home and earns more.

probably living of insurance money since he lost his foot

[jojo69]

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


 

I would focus on 'fried'  

More seriously, though, if you ever played on exchanges/yield providers, your chances to be intact are pretty low after:
1. MtGox
2. Bitfinex
3. BTC-e
4. Celsius
5. FTX
6. various defi hacks
7. ...

However, I am a bit miffed about the fact that M. Saylor went on huge margin buying all that btc, even though he says that his liquidation price is very low.
He should have bought half.

https://www.youtube.com/watch?v=kdvTkddp1F0

[MERlT]

So ...

Just flow with me here for a sec... What if this whole FTX thing was really a set-up.  Powers that be come in... got SB-F hooked on SOMETHING.  Have you seen the videos of him vibrating like a diesel engine?  Then start making less and less veiled threats 'till they set up the collapse.  Have legislation ready in the countries they control to try to bring the whole thing down over a few weeks...

Nah.  Just a ponzi prolly.

[]


Also this.

https://www.weforum.org/organizations/ftx

All these lenders/exchanges fail one after another.  I wouldn't be too surprised, if setting up (some of) these companies just to pull the plug afterwards was an attack of tptb.  We are in an era of covert wars so it would fit the zeitgeist.

 

This ☝

[ChartBuddy]

Explanation

[BinaryReign]

Hey, it would appear that I just turned "Legendary" today. Perhaps the slowest ever to achieve this revered status? (just under 9.5 years).

Bullish 

I'll be slower than you :p

At one point I wanted to reach legendary, but then I just kind of forgot about it 

Now all I want is for BTC to get back on track 

 Have you been lurking all this time?! Nice to see a familiar hat

I prefer to think of it as "keeping my ear to the ground" but yes 

I liked the pacman cap he complimented you on.

 I am my own worst critic.  I would like to offer an alternative to the Pac caP; I think the trails show up better on this one.



Avatar-sized

I’m a gamer, so seeing this almost gave me hat envy lol 

Great work as always xhomerx10

I probably like pacman because I'm not very mature.

  Nooice! Made me wonder what prices were that day, looks like around $3,650-$3,700 

[ChartBuddy]

Explanation

[Biodom]

The CEO of Alameda Research...I kid you not:

https://youtu.be/0yvi7I395eo?t=335

wow

[JayJuanGee]

Saylor flushing shit.
https://twitter.com/i/status/1590747738689241095

"Speaking for all the bitcoiners, we feel like we're trapped in a dysfunctional relationship with crypto and we want out."

Never have truer words been spoken. Although I have some criticisms of Saylor, I do tend to find myself agreeing with almost everything he's said over the last couple of years.

+1
A true and perfectly phrased comment by Saylor. The faster the crypto space disintegrates, the better. I hope this latest collapse serves as free NYKNYC education for the masses (free for most, very expensive for some).

I was pondering whether I should say anything about that Saylor interview.

Let me break my silence.

I thought that the interview was not very good - because it seemed to me that Saylor was not really answering the questions very well - because Saylor kept suggesting that bitcoin is the best, and shitcoins suck and even there are needs to regulate scammers - and even though there may be some correctness in points that he was making, I felt that the points were not really being very well expressed to get to the heart of the matter, even though it is possible that regulation could have fixed some of these matters, but it is almost acting as if there is a need for a world-wide government to regulate exchanges - and surely legislators are not going to carry that out in any kind of way that is going to be helpful in terms of empowering regular people to not have their money stolen or to have central parties engaging in fraudulent misrepresentations regarding their solvency and their use of client funds to gamble or to rehypothecate multiple circular propping up of the value of their Ponzi-scheme shitshow of appearances of value.. until the many houses of cards come crumbling down way quicker than anyone would have expected.. .. like going from something like $32 Billion to zero or even lower than zero in a matter of a few days.

It's not that I really disagree completely with Saylor - but it seems that fraud laws are already in place - so the vague calls for regulation seemed problematic in terms of solutions to the problem of attempting to re-inspire confidence of institutions in regards to the likely ongoingly good long-term investment thesis in bitcoin.

For me, it is surely NOT any kind of "hit it out of the ballpark" interview in regards to the sad times that we are currently going through with our ongoing negative price pressures on our lil precious..

I lost so much money in the last few months through buying stupid NFT's which are worth almost zero now, having ETH on Celsius which went bankrupt, and now losing the rest of my ETH, SOL on FTX... NEVER AGAIN! This is the day I convert my remaining crypto to Bitcoin!

You're clearly taking the piss

It’s a viral tweet getting C&P.

Let’s be more concerned about contagion & see what happens. I hope the bottom is in but doubt it tbh, more to come imo.

For sure based on both recent events, and also where the BTC price is right now, the odds would not be very great that our current local bottom of $15,632 from about 2 and 1/4 days ago would be the bottom.

[MERlT]

The CEO of Alameda Research...I kid you not:

https://youtu.be/0yvi7I395eo?t=335

wow

It gets worse 😮

[hisslyness]

Saylor flushing shit.
https://twitter.com/i/status/1590747738689241095

"Speaking for all the bitcoiners, we feel like we're trapped in a dysfunctional relationship with crypto and we want out."

Never have truer words been spoken. Although I have some criticisms of Saylor, I do tend to find myself agreeing with almost everything he's said over the last couple of years.

+1
A true and perfectly phrased comment by Saylor. The faster the crypto space disintegrates, the better. I hope this latest collapse serves as free NYKNYC education for the masses (free for most, very expensive for some).

I was pondering whether I should say anything about that Saylor interview.

Let me break my silence.

I thought that the interview was not very good - because it seemed to me that Saylor was not really answering the questions very well - because Saylor kept suggesting that bitcoin is the best, and shitcoins suck and even there are needs to regulate scammers - and even though there may be some correctness in points that he was making, I felt that the points were not really being very well expressed to get to the heart of the matter, even though it is possible that regulation could have fixed some of these matters, but it is almost acting as if there is a need for a world-wide government to regulate exchanges - and surely legislators are not going to carry that out in any kind of way that is going to be helpful in terms of empowering regular people to not have their money stolen or to have central parties engaging in fraudulent misrepresentations regarding their solvency and their use of client funds to gamble or to rehypothecate multiple circular propping up of the value of their Ponzi-scheme shitshow of appearances of value.. until the many houses of cards come crumbling down way quicker than anyone would have expected.. .. like going from something like $32 Billion to zero or even lower than zero in a matter of a few days.

It's not that I really disagree completely with Saylor - but it seems that fraud laws are already in place - so the vague calls for regulation seemed problematic in terms of solutions to the problem of attempting to re-inspire confidence of institutions in regards to the likely ongoingly good long-term investment thesis in bitcoin.

For me, it is surely NOT any kind of "hit it out of the ballpark" interview in regards to the sad times that we are currently going through with our ongoing negative price pressures on our lil precious..


For sure based on both recent events, and also where the BTC price is right now, the odds would not be very great that our current local bottom of $15,632 from about 2 and 1/4 days ago would be the bottom.

You can definitely sense his frustration... At first i thought it was all the shit he would have had to deal with from investors and other naysayers over the last 12 months... but watching it again... i think he is just tired off repeating the same information... Bitcoin is not Crypto!

Someone asked me last night what i think about this FTX and Crypto Saga, and i have been waiting to use this line... "I DON"T" He looked at me dumbfounded and I said, i only care about Bitcoin.. the rest is just background noise and a distraction...

Anyhow, back to "Operation: Bring Them Home" ...

[ChartBuddy]

Explanation

[cAPSLOCK]

If nothing else...

This is gentlemen.

[nutildah]

All these lenders/exchanges fail one after another.  I wouldn't be too surprised, if setting up (some of) these companies just to pull the plug afterwards was an attack of tptb.  We are in an era of covert wars so it would fit the zeitgeist.

I don't think so. This space attracts some incredibly greedy and stupid motherfuckers; their levels of these qualities shouldn't be underestimated.

They may be smart when it comes to handling money and mastering deceptive practices but are too dumb to realize karma is a real phenomenon.

[JayJuanGee]

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

Glad you folks are on your toes.

Grow up.


 

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?

Oh?  You had not noticed that the price of our lil precious had been "changing" in the past few days (or would it be more accurate to say "week?"  seems like a week, but maybe a "half of a week?")?

I guess SBF and his shenanigans might not be relevant to deee cornz.. perhaps?


Probably, you are correct..


As always.

 

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.

Those are usually fruitless mental masterbation exercises to proclaim that if we remove one thing from history then our current situation would be like that rather than like this.

Impossible to prove or know.. even if it sounds like a good feeling thing to proclaim it.

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

Even though I think that I know what you are saying (in terms of perhaps the size of your BTC stash not being "affected"), I don't know how you would not be affected at all by the craziness of our current crazy-ass BTC price performance - that first of all brought us below the 200-week moving average for longer than we had historically been below that indicator (largely 4.5 months so far). 

In other words, it seems to me that you are engaging in a bit of hyperbole for effect.

Now, in regards to your forum registration date, you seem to have been registered here for around the same amount of time as me, so sure it is quite possible that you have been able to do quite well for yourself, even if you employed relatively conservative BTC accumulation practices - and surely you would have prospered even more from a wee bit more aggressive BTC accumulation practices.

Surely there are quite a few of us from around that era who have done quite well for ourselves, even if we may have made a variety of mistakes along the way, so maybe you would like to share a bit more about your various strategies over the years and maybe some examples of places along the path of your journey in which you have learned some lessons based on either mistakes, luck, persistence or whatever other qualities and/or practices that you believe might have contributed to your financial/psychological confidences in spite of some of our current negative price pressure times.

[Biodom]

All these lenders/exchanges fail one after another.  I wouldn't be too surprised, if setting up (some of) these companies just to pull the plug afterwards was an attack of tptb.  We are in an era of covert wars so it would fit the zeitgeist.

I don't think so. This space attracts some incredibly greedy and stupid motherfuckers; their levels of these qualities shouldn't be underestimated.

They may be smart when it comes to handling money and mastering deceptive practices but are too dumb to realize karma is a real phenomenon.

dats me, apparently  

...well, apart from using anybody else's money

[MERlT]

All these lenders/exchanges fail one after another.  I wouldn't be too surprised, if setting up (some of) these companies just to pull the plug afterwards was an attack of tptb.  We are in an era of covert wars so it would fit the zeitgeist.

I don't think so. This space attracts some incredibly greedy and stupid motherfuckers; their levels of these qualities shouldn't be underestimated.

They may be smart when it comes to handling money and mastering deceptive practices but are too dumb to realize karma is a real phenomenon.

Yeah! Just nothing nefarious  but innocent stupidity. lets give them one more chance... time for some more 🍿        

[BobLawblaw]

Hackerman apparently hacks FTX and drains $400M wew lads

[ChartBuddy]

Explanation