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

[El duderino_]

Now I am starting to appreciate that this thread is "going down hill."

I think it’s a show of confidence that holders are happy we’re in the upswing of this 4-year cycle and don’t give a fuck about the price until it’s time to sell. That, or toilet humor is ageless and something we all can enjoy. I think a thread on westerners using toilets in unique ways might be necessary for entertainment purposes.

I’m just glad people aren’t debating whether it is time to sell now or hold until six figures. That would be even more ridiculous.

Hodling my bitcoin
Price surges, temptations rise
Only sell when must

[1713567742]

1713567742

[1713567742]

1713567742

[1713567742]

1713567742

[1713567742]

1713567742

[1713567742]

1713567742

[Arriemoller]

Cold from hell remnant
Still lives in my left nostril
A weird cold indeed

[AlcoHoDL]

"It might make some sense...
...to get some corn just in case."
—S. Nakamoto.

Knowledge ain't power.
It's how you use it that counts.
Many knew, few bought.

There's no one to blame,
But you and your sorry ass,
For not buying some.

Now go belly-down,
And let Bob do his pipe thing,
While Jay batslaps you.

And if you still doubt,
I can offer you no hope.
You're as good as dead.

#5sundayhaikus

[JimboToronto]

Good morn Bitcoinland.
Still over thirty thousand.
Of course keep holding.

Why sell when you can
Take your profits in Bitcoin?
It makes much more sense.

[ChartBuddy]

Explanation

[Biodom]

Cold from hell remnant
Still lives in my left nostril
A weird cold indeed

OT ha, I have something like this....running nose...in a couple of days it transitions to cough....then running nose again....then cough again..2wks already.
Did not check for COVID early enough, now negative...weird.
That 'cold' must have gotten 'something' from the other viruses.

Buuut..it does not matter, the mood is still good due to our favorite pumping higher.

[Bounty _BOX]

Hello everyone,, Btc next movement 33k$. The current price of Bitcoin is 30k$ plus. That means the market is fairly normal now.

[ChartBuddy]

Explanation

[OutOfMemory]

I deleted my post, but decided to repost this "proper use of toilets" sign.

Here's my version, actually shot this in RL in a spa.

[Who is John Galt?]

Hello everyone,, Btc next movement 33k$. The current price of Bitcoin is 30k$ plus. That means the market is fairly normal now.

Anything can be predicted without explanation. If I too would like a bullish rally, it does not mean that the bulls have already arrived. So far, it's been a week of flat. I would say that the continuation of the flat looks more expected in the coming days.

[Torque]

https://docs.house.gov/meetings/BA/BA21/20230419/115753/BILLS-118pih-Toproviderequirementsforpaymentstablecoinissuersresearchonadigitaldollarandforotherpurposes.pdf

Thanks...interesting.

Upon an initial read, here are some nuggets: they distinguish between "payment stablecoins" and "endogenously collaterized stablecoins".
obviously, USDC/USDT fits into cat 1 and cat2 is like infamous 'almost dead' Luna. Cat 1 can only have cash, 90 day Treasury bills, deposits with Fed reserve and 7 day repurchasing agreements for 90 day bills backing it (at least 1:1). Another interesting point: deposits of payment stablecoins are deemed as legally belonging to a person, NOT to the institution which holds them. Even more interestingly, if a payment stablecoin issuer goes bankrupt, stablecoin owners have first dibs on remaining assets (their rights are higher than anybody else).

On a more sombre note, stablecoins are NOT covered by FDIC and it is expressly forbidden telling customers otherwise. BTW, the issuance of new "endogenously collaterized" stablecoins is prohibited for 2 years under moratorium, but current are  grandfathered in. Did not see a part if current "payment stablecoins" (like USDC/USDT) are grandfathered in or not-the doc it too long. Maybe someone else can pinpoint this part.

Obviously, Wall Street wants to "play" with stablecoins, but, personally, I don't see much need for them now, especially when fast payment rails would be established soon. Perhaps, stablecoins is a way for banks to get back into the payments (after they were effectively cut off by the FedNow system).

Not sure if I'm saying the same as what you are saying or reading it the same way, but the way I see this whole pursuit of a stablecoin thing is:

1. It's a way to separate investment bank/HNW investor/corporate deposits away from Average Joe deposits. It's all about putting more safety gates/fences around parts of the banking system. Average Joe depositors are broke so they no longer hold all the power to create a "bank run" through withdrawals (because they have very little if any), that power is now in the hands of the other HNW depositors and investors. So they want to limit the potential public fallout and outcry when major money gets moved and a bank's liquidity dries up. "If you have this stablecoin in your wallet, you already have your money, no need to worry." Ok, sure you do.

2. They want to separate out Average Joe deposits to create the necessary liquidity to prevent main street banking disruptions.

3. Main street banking liquidity will move from a "long term liquidity with hard backing assets" model to a "liquidity on demand with no real collateral behind it" model for most run-of-the-mill, regional banks.

4. This will just create or increase more of a liquidity problem everywhere else, and allow them to further increase the fractional reserve model(s). Nothing will change, in fact the fragility of the global financial system will just continue to deteriorate.

5. Average Joe could still be left holding the bag and take a hair cut if the stablecoin has a crisis and goes belly up. FDIC will no longer be there to protect the Average Joe who is holding it. Because they still ultimately want Average Joe to foot the bill if things go bad (i.e., "Privatize gains, Socialize losses", remember?)

This is why you can't trust any of this shit. It's not being set up for our best interests, but theirs. Shit is shit, and you can smell it from a mile away.

[philipma1957]

well if we are repeating 2019 we get to 70% of all time high.

that was in july 2019 14k was 70% of 20k. rounded for ease.

so 49k is 70% of 70k rounded for ease of reading.

So 49k hits in next 3-4 months and we tank again till 2024 fall

and peak in spring 2025.

It could happen.

[HI-TEC99]

Me: "Hey, Bitcoin. Describe your market action over the last couple days."
Bitcoin: "I found this image from the conference last year for you"

is she or he 🤨

[HI-TEC99]

...

It's probably because of how westerners use gas station toilets.

Now I am starting to appreciate that this thread is "going down hill."

...

You want a return to its glory days when JorgeStolfi, r0ach, NotLambchop, gembitz, and fonzie were "serving this community thread with valuable information"?

WO's 10Th Anniversary


...Special thanks to all the users who keep serving this community thread with valuable information.


Special thanks to

ChartBuddy   ,JayJuanGee ,El duderino_ ,adamstgBit , Last of the V8s ,HairyMaclairy, LFC_Bitcoin, jojo69, JimboToronto, Torque, bitserve, Fatman3001,JorgeStolfi, BlindMayorBitcorn, Richy_T, BobLawblaw, Biodom, d_eddie, Toxic2040, realr0ach, xhomerx10, Hueristic,j breher, empowering, billyjoeallen, Ibian, Arriemoller, gentlemand, NotLambchop, cAPSLOCK, Elwar, marcus_of_augustus, ShroomsKit, podyx, OutOfMemory, fonzie, serveria.com, BitcoinGirl.Club ,sirazimuth, Paashaas, philipma1957, VB1001, AlcoHoDL, spooderman, lightfoot, seleme, macsga, Davyd05, savetherainforest, TERA, infofront, inca, Rosewater Foundation, fillippone, 600watt, DaRude, derpinheimer, BitcoinBunny, Wekkel, kurious, windjc, BTCMILLIONAIRE, tarmi, vapourminer, Cryptotourist, HI-TEC99, Gyrsur, mmitech, hdbuck, Lambie, Slayer, aminorex, Phil_S, bitcoinPsycho, dreamspark, kingcolex, somac, Globb0, gembitz, becoin, nutildah,  Walsoraj, wachtwoord, Searing, shmadz, Sitarow, yefi, oda.krell, goldkingcoiner, N12, Rampion, mindrust, shahzadafzal, molecular, JSRAW, Meuh6879 ,ivomm, noobtrader, Raja_MBZ, Cconvert2G36, r0ach, Gachapin, vroom, eXPHorizon, aesma, imThour, cygan,,,,,so more users

Username taken from: ninja.space top 100 users according to their amounts of post.

[ChartBuddy]

Explanation

[Hueristic]

This is why you can't trust any of this shit. It's not being set up for our best interests, but theirs. Shit is shit, and you can smell it from a mile away.

They plan on forcing 1:1 with specific requirements for that backing which they control.

*we know Their controlled versions will be fractional allowed.

[JayJuanGee]

https://docs.house.gov/meetings/BA/BA21/20230419/115753/BILLS-118pih-Toproviderequirementsforpaymentstablecoinissuersresearchonadigitaldollarandforotherpurposes.pdf

But what is it?

Are "we" actually supposed to read to find out?

https://docs.house.gov/meetings/BA/BA21/20230419/115753/BILLS-118pih-Toproviderequirementsforpaymentstablecoinissuersresearchonadigitaldollarandforotherpurposes.pdf

Thanks...interesting.
Upon an initial read, here are some nuggets: they distinguish between "payment stablecoins" and "endogenously collaterized stablecoins".
obviously, USDC/USDT fits into cat 1 and cat2 is like infamous 'almost dead' Luna. Cat 1 can only have cash, 90 day Treasury bills, deposits with Fed reserve and 7 day repurchasing agreements for 90 day bills backing it (at least 1:1). Another interesting point: deposits of payment stablecoins are deemed as legally belonging to a person, NOT to the institution which holds them. Even more interestingly, if a payment stablecoin issuer goes bankrupt, stablecoin owners have first dibs on remaining assets (their rights are higher than anybody else).

On a more sombre note, stablecoins are NOT covered by FDIC and it is expressly forbidden telling customers otherwise. BTW, the issuance of new "endogenously collaterized" stablecoins is prohibited for 2 years under moratorium, but current are  grandfathered in. Did not see a part if current "payment stablecoins" (like USDC/USDT) are grandfathered in or not-the doc it too long. Maybe someone else can pinpoint this part.

Obviously, Wall Street wants to "play" with stablecoins, but, personally, I don't see much need for them now, especially when fast payment rails would be established soon. Perhaps, stablecoins is a way for banks to get back into the payments (after they were effectively cut off by the FedNow system).

Oh?

Biodom to the rescue.
 

Its not much tougher to read than one of your long winded posts.

Actually I see a attack vector in there that I'm waiting for others to notice.

Maybe ask GPT with the "petertodd" token to ELI5 for those of you using that.

One difference with my long texts and a text that is linked (meaning that someone else wrote the substance of the text) is that I am actively participating in these here parts, and so whatever gobble-dee-gook might end up coming out of my keyboard tends to either be my words, or I am showing the source of my words.. or I am posting some image, and I do not tend to provide sources for images (presuming that I got them from the interwebs) unless there were some kind of a potential ambiguity regarding whether I am claiming to have had created the picture or the meme.. then in those kinds of cases I might either explain or provide a source.

From my point of view, there are a lot of members who provide links and either fail/refuse to provide any explanation or they fail/refuse to provide any opinion on the topic that they had linked, and surely even from my own bias, I may well consider that older members are allowed a bit more lenience based on some of their past contributions to the thread.. but still sometimes those kinds of ongoing posts (that fail/refuse to contain explanations or opinions) are not really very substantively friendly, even if sometimes the underlying source/link might provide  a lot of good content.

Now I am starting to appreciate that this thread is "going down hill."

...........       ..........
I’m just glad people aren’t debating whether it is time to sell now or hold until six figures. That would be even more ridiculous.

There are always BTC HODLers and accumulators who sell way the fuck too much BTC too early, and sometimes they are more vocal about their selling on the way up than other times, so I would not try to ascribe too much measure of sentiment to the fact that we are not seeing large numbers of members posting about selling BTC at these prices.

Weak hands are always selling BTC, and they have their dumbass theories that seem to fail/refuse to actually consider BTC from a perspective other than various short-term possibilities of dollar profits.

We have witnessed those dynamics historically, and there is no reason to believe that those dynamics ever go away, except that the way that they affect people in terms of either selling BTC too much too soon, or even refusing to buy BTC because they are believing that they might be able to buy cheaper, it just rotates as to which members of the population are affected, and there are a lot of people in the world to keep coming into this new asset class (BTC) in which we still ONLY have around 1% of the population or fewer who actually hold some BTC and also appreciate what they are holding in enough of a way that they are adequately and sufficiently stocked up.

Maybe all BTC newbies have to go through various kinds of phases of within their BTC journey in terms of building their way to being more convicted about the fundamentals of bitcoin in terms of both buying some BTC and then accumulating to a sufficiently and adequate level in which they might actually both recognize that they are able to be advantaged by their BTC accumulation and also to materially realize profits from their BTC accumulation by sufficiently/adequately and aggressively (without too much) accumulating of BTC. and having enough of a long-term plan that they are realistically able to carry out within their own means and their own psychological and financial circumstances.

So one thing is accumulating BTC, and then another thing is getting into some kind of a stage in which BTC maintenance is present, so even if there are sales of BTC on the way up, there is also a kind of consciousness to never sell the whole stack, and the way that anyone manages their BTC stash is going to have a lot of variance too.. in terms of recognizing various levels of suitability in terms of how much BTC that they might want to shave off at various price points, on the way up, and to still have BTC that they are holding in case the BTC price goes up more.. and sure, I understand and appreciate that some people never do transition out of a gambler kind of mentality and many times they will end up fucking around with moving around too much of their BTC stash (and other assets too.. and some of those decisions/actions are not reversible - once the damage is done).

[edited out]

well I would sell everything at 100k.

but I would still be mining ⛏️. Then I would hodl those coins.

Case in point.

 





Thanks for your timely admission Philip.^**  

**Note: By the way, a bit of an irony too is that you (Philip) already admitted that historically you had problems with gambling, and it is a bit subliminal to for you to ongoingly be showing that you still have gambling ways that are embedded in your ways of describing your own ways of managing your finances and your financial practices, and surely you provide a sufficient enough amount of detail to be able to reveal those characteristics, but hey, whatever, you do uie-poo-ie... hahahahahaha... and if you do not really know what I mean, there is a kind of need for gamblers to try to time markets and to play all or nothing bullshit while maybe acting like they are not doing that, and you seem like you have an irresistible urge to play the market and then to want to be right about it.. and maybe even a kind of irresistible temptation to tell everyone that you were right about it.. but if you were to think about these matters for a while, there are aspect in which any of us do not have enough information to be making such absolute proclamations about what we would do, why we would do it or why an all or nothing play would become fruitful, if there are really any times that an all or nothing play is actually a wise idea.. even for an elderly buzzard like ur lil selfie.. (no homo)

[jojo69]

BlindMayorBitcorn, Rosewater Foundation,

!

[Toxic2040]

the Sunday wall report


price consolidation continues

big week coming up

feeling a little bearish....biases in play perhaps

which is strange because i still feel like bitcoin is undervalued by at least an order of magnitude

shrug....is what it is

arguably one of humanities most important milestones might be achieved...or at least a solid foot might get in the door tomorrow with reusable rocketry and the Starship/Booster maiden flight attempt

some of you dont care...and i get that...really...its an abstract concept thats hard to wrap ones mind around...thinking dozens or thousands of years into a unknowable future

i think humanities future will happen in space...and i think bitcoins will also

so trim a bit of sail if one feels the need and ahead one third towards the stars

steady on



dyor



4h


D

stronghands

[ivomm]

Cold from hell remnant
Still lives in my left nostril
A weird cold indeed

OT ha, I have something like this....running nose...in a couple of days it transitions to cough....then running nose again....then cough again..2wks already.
Did not check for COVID early enough, now negative...weird.
That 'cold' must have gotten 'something' from the other viruses.

Buuut..it does not matter, the mood is still good due to our favorite pumping higher.

Since yesterday I have similar symptoms. Suddenly I felt very dizzy and the temperature raised to 39. I started taking analgetic every 6 hours and applying nasal sprey. Do you know what is this - covid or other virus/bacterial infection? Sometimes I feel the urge to cough, and sometimes my nose gets a bit swollen. But so far nothing more, except I feel very bad with my whole body aching. Do I need to take antibiotics or to try walking it off.