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

[JayJuanGee]

In an effort to protect users Binance will remove and delist $FTT from the following products:

🔸 Simple Earn Flexible Products
🔸 USDⓈ-M Perpetual contracts
🔸 Cross Margin
🔸 Isolated Margin

Reference

It protects users to ONLY give them something like 12 hours of notice to close their positions?

~

What's your point?

Merit beggars fighting each other, things really that bad? Awesome.

"Things" about to get REAL.

FTX , SBF & Customers funds
World leading Crypto exchange FTX had already in troubled with liquidity crisis. FTX valued at $32bn but now FTX bankruptcy in 11 November 2022. After competing offshore crypto exchange , binance backedout of a deal to acquire it and users withdrew around $6 bn in funds.
After collapsed $1 bn  customers funds vanished from exchange FTX , then by tricking FTX CEO SAM BANKMAN Fried secretly transferred more than $10 bn customers funds from FTX to SBF trading company Alameda Research.

CEO of FTX sister company Alameda is in Hong Kong and trying to get to Dubai, a country that doesn’t have extradition treaty with the U.S., a source tells Cointelegraph

Source: Bitcoin Magazine

People are very stupid indeed. Russia is the only country that can protect you from the terrorists running US government.

Something is "off" about your statement becoin - because even if we assume that the US Govt. is largely contributing to our current problems, I have difficulties considering that "Russia" might be "our solution" or that we necessarily need protections.

Have you heard of bitcoin?  Doesn't bitcoin play some kind of role in the solution and/or protection arena?

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[Hyperjacked]

FTX could be the tip of this crypto iceberg... crypto winter inbound ... forcast calls for pain until the next Bitcoin halving imho. The downturn will be an opportunity for Jamie D and all those banks that were late to the party to buy Bitcoin on the cheap.
 I expect all the famous ppl that lost big with FTX to make a huge stink... should be interesting 2023 full of crackdowns and regulations but what do I know.
Cheers fellow psycho Bitcoin hodlers ... keep those keys locked away safe.  
https://www.fxstreet.com/cryptocurrencies/news/crypto-experts-allege-gateio-and-cryptocom-could-collapse-like-ftx-accident-or-proof-of-reserves-202211130653

[BTCGalaxyA12]

Some people who like him will say his account was hacked because their Big Boss couldn't possibly say Don't Trust Bitcoin.



It's getting weirder.

[Hueristic]

They were developed and coded by someone so how can you be so sure that "someone" hasn't left any backdoors?  

Open source code.

Don't be so naive. Who can compare the actual code running vs the published open source? There are people maintaining it, updating it, hosting it. It can be hacked too. The author or some malicious admin for example can edit or recompile the code adding backdoors and you will have no idea it's not the original one. 

Actually there is more of a danger of libraries that are contained being backdoored and slipping through.

I'm fully aware of attack vectors.

[strawbs]

Post for those that don't understand commas?

I'm curious, does anybody actually still take this guy seriously?

He's become a parody of himself, and makes bitcoin look pretty silly to people who aren't maxis.

Its not about the current price of BTC so much as how vapid his pseudo-philosophical cheerleading one-liners are.

Much like Beyond Chicken, its not the kind of content I would care to rally behind.

Saylor does, at the very least, walk-the-walk, as well as talking-the-talk. I think his, and Microstrategy's, commitment to bitcoin has been demonstrated to be far more than simple cheerleading. Sure, his message delivery style may not be to everyone's taste, but I do take him seriously by virtue of his actions.

[ChartBuddy]

Explanation

[Phil_S]

LOL I'm jealous again at Dude's jetsetting life. 

[JayJuanGee]

Huh..! Really missing these days. $46000.

As things stand, you will miss those days for a long time, because so many people have been wanting the price to drop as low as possible for months, and then when it finally happened, they want it even lower - and I personally have nothing against going below $1000, because then everyone will can earn their first BTC only through faucets in case it is too expensive for them to buy it even then.

I don't care what the people are saying/think. I believe in Bitcoin.

And if it will go below $1000. I will buy almost 5 BTC. And hold them.  

I will probably cry.

[eXPHorizon]

Imagine coming across an Individual that can make ALL YOUR DREAMS COME TRUE. And you say FUCK YOU GO DIE TO HIM. Imagine that , cause it happend not too long ago 😁


Imagine saying FUCK YOU to a Genie 🤣

[LFC_Bitcoin]

LOL I'm jealous again at Dude's jetsetting life. 

He’s had more women than we’ve had hot dinners.

[Gachapin]

surprise, surprise  


FTX had ZERO #Bitcoin assets listed in bankruptcy docs, yet it had $1.4B in #BTC liabilities - Financial Times
💥THEY SOLD YOU FAKE BITCOIN!
https://twitter.com/BTC_Archive/status/1591839060083064832




... no keys no coins

[eXPHorizon]

LOL I'm jealous again at Dude's jetsetting life. 

He’s had more women than we’ve had hot dinners.

His mind ? He wouls trade them almost all for the One 😊

[cAPSLOCK]

alright...deep breathes cAP...everyone else as well...the flush will complete and bitcoin will be the stronger for it
and f*ck war...bitcoin is about peace and love...it's the only way this works
stop buying into the MSM and the nation states that would rule with fear...that profit from division
the people who make this space better still hodl bitcoin


 

"Silent weapons for quiet wars".  That's my point. And I am not buying any of it.  But LOTS of people still are.  Nixon taking us off the gold standard was the set-up.  I never said it was kinetic though it may end up that way.  Time will prove me out even though I hope I am wrong.

Breathing is just fine... I promise.  I am very calm!  

https://archive.org/details/SilentWeaponsForQuietWarsOriginalDocumentCopy/page/n1/mode/2up

[ChartBuddy]

Explanation

[Richy_T]

I need this entire thing explained to me.

I could live with never knowing.

[philipma1957]

<...>just be sure that you have spare funding to do it for a while (1 year or more)

You think it will last that long?
Damn it, SBF... Damn!

yeah at best 6 to 7/months

a lot depends on the other exchanges and if one or two more fail.

[Raja_MBZ]

Thought of letting y'all know... I lost a lot at FTX. Like really, A LOT. For a long long time, I won't be in a position to re-enter BTC. I'm so done.

"Not your keys, not your coins"

At the end of the day, I think y'all outperformed me. It'd not have happened if it weren't for Sam, though. But... whatever.

[Hueristic]

It'd not have happened if it weren't for Sam, though. But... whatever.

[fillippone]

Thought of letting y'all know... I lost a lot at FTX. Like really, A LOT. For a long long time, I won't be in a position to re-enter BTC. I'm so done.

"Not your keys, not your coins"

At the end of the day, I think y'all outperformed me. It'd not have happened if it weren't for Sam, though. But... whatever.

Sorry for your loss.
At least you learnt something.
Also, King bitcoin is a different breed: "There is Bitcoin, then there is Crypto".


There is no loss here, as you have learn a very useful lesson.

Since we are on-topic, let me shill a thread of mine on this matter:

FTX drama and it’s long term consequences: Bitcoin is a confidence Game

[Biodom]

What was the largest dip in anything that was then recovered above the prior ATH?
Here are my recollections (sorry, some utterances will be shitcoins just for their historical record):

1. AMZN, went down 95% in 2000-2001, went way up the prior ATH, took 7-8 years.
2. GME, down 95% between 2008 and 2020, then 116X.
3. AMC, down 94% between 2015 and 2020, then 28X.
4. TLRY, first long dip 97.5%, then 17X up (did not reach the ATH), then another 96% down (total down from the ATH to ATL was 98.1%), we shall see how it goes.
2. AAPL went down 82.5% between 1991 and 1998 (that bear seemed endless), got rescued by S. Jobs, now a biggest company (or one of top three).
3. ETH (see the disclaimer above) went down 95% inside 2018, ATH in 2021, 59X from the low.
4. ADA (see the same disclaimer) went down 98.4% in 2017-2020, new ath in 2021, 150X from the low.

I have never seen something/anything that declined more then 99% (not counting oil futures going to negative value) coming back to exceed the ATH, but would be interested if such situation existed.
Apart from ADA, 95% seems to be the most "something" declined before reaching a new ATH.

What i am getting at: at $1000 (someone suggested this number as a remote possibility), it would be about 98.5% down. 95% would be $3445, a match to march 2020 "mindrust wick"
If less than that 98.5-99%, then there are no records to suggest that recovery is possible (it appears to never happen before, unless you can find such record, without counting bankruptcy cases).

So, crying would be kind of appropriate, as in crying for ALL of humanity, imho, not just bitcoin (at or below $1000).