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

[xhomerx10]

Nice, but I prefer eating McDonald's at home, especially when BTC hits $1 million.

  That must be Carolina.

2 merits for 2 fry-covered boobs

 5 golden riiiings!
 4 calling birds
 3 French hens
 2 fries-covered boobs
 and a partridge in a pear treeeeeEEE.


 I'm also dancing... just trying to make sure you get your merit's worth

 Edit: maybe it should have been merits' worth... my grammatical proficiency is diminishing at an inverse proportion to my age. 

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Bitcoin_people]

How high can BitcoinBTC price go?

$BTC is competing with all assets which are used to store value, which I estimate to be around $872 trillion in total. Bitcoin currently represents only 0.1% of that total.

Bitcoin has properties which make it superior to all other assets that are used to store value, so over time BTC is very likely to account for more and more of the total assets pie chart.

So how high can #BitcoinBTC price go? If BTC captures...
1% of total assets value: $450,000 per coin
5% of total assets value: $2,200,000 per coin
20% of total assets value: $9,000,000 per coin

We are so early!


https://twitter.com/thepowerfulHRV/status/1664186815098814464?t=cTYtRpjPqo81jgpEIX81GA&s=19

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[JimboToronto]

...grammatical proficiency is diminishing at an inverse proportion to my age. 

It's not your age. It's the age we live in.

Grammatical proficiency?

Some people can't even grasp the simple concept of singular versus plural when it comes to pronouns.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Biodom]

A am glad that we passed the debt ceiling in US, but every rational person should ask themselves: where is it all going?
The debt number is going vertical and we are now paying something above $700 bil/yearly in interest in US alone.
My children are bitter that they cannot afford to buy a house and I don't want to "spoil" them by doling cash for that (they could inherit later on, of course).
Quite a dilemma.

However, I don't have a feeling that we are early, maybe because I went through all these bitcoin up and down gyrations in the last 10 years and have some regrets of not being a nimble trader during those years. Similarly, I did not feel that AAPL, AMZN and GOOG were "early" in 2011, but they went up 15X (AAPL), 12x (AMZN), 8X (GOOG) since then and this is, perhaps, instructive.

Time will show if we are, indeed, early, but a gigantic 'plateau' for decades at some point is also possible (with ever diminishing "pulse" from the successive halvings), even though most don't expect it.

[El duderino_]

Always hating those red ones

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[goldkingcoiner]

I'm sorry, I just had to laugh at this pic and sorry for quoting it and taking up space.  That clock-staring cat could have been me over the years.  I don't know how many times I've posted "bitcoin will take 25 years to get to $X, and if it does we'll probably be in a zombie apocalypse".  And then way, waaaay before I knew it bitcoin would surge past $X and then higher and higher to new dollar amounts that I'd never have predicted.

Thinking back on what could have been makes my skin crawl.

What the hell is this thread about?  I only stumbled upon it doing post reviews.  Lol.

This is the heart of Bitcointalk. We come here to shitpost while hodling our coins. It helps (as a distraction). Welcome!

Damn it. Something's happening in WO... Too quiet. No heated debates, no rusty pipes, no Batslaps, no Dude's resto/pissing pics, no proudhon posts, r0ach probably died or abandoned us, nullius fell in love with a Greek goddess and won't post anymore, Elwar's seastead sank and he abandoned ship... Hell, not even a post about Bob's ranch or Jimbo's lake projects. Have we really stooped so low?

Price drives everything it seems... Come on, Bitcoin, do something (like a mega-pump to ATH+)... We need some Carolinas and Choo-Choos to get things going!

Edit: No more lasers for me. Laser hat gets worn again when we reach 6 digits.

Its reported JayjuanGee keyboard its broken, so he cant make his walltext.

Only important "new" on this day was the Tether project to build a bitcoin mining farm on Uruguay with renewables energy.

Note of that

He has evolved beyond the need for keyboard input. Do not underestimate him.

Also, in regards to important news, Binance is being bent over by the SEC. This would explain the panic dump of 5%. Or as I like to call it, the fire sale.

source: https://www.coindesk.com/policy/2023/06/05/sec-sues-crypto-exchange-binance-ceo-changpeng-zhao/

Binance is already being sued by the Commodity Futures Trading Commission as well.

[Gachapin]

S.E.C. Accuses Binance of Mishandling Funds and Lying to Regulators
https://www.nytimes.com/2023/06/05/business/sec-binance-charges.html


SEC sues Binance and CEO Changpeng Zhao over U.S. rule violations
https://www.youtube.com/watch?v=_VaB7DyVXLU

[bitcoinPsycho]

S.E.C. Accuses Binance of Mishandling Funds and Lying to Regulators
https://www.nytimes.com/2023/06/05/business/sec-binance-charges.html


SEC sues Binance and CEO Changpeng Zhao over U.S. rule violations
https://www.youtube.com/watch?v=_VaB7DyVXLU

The SEC can eat my shit

[LoyceV]

S.E.C. Accuses Binance of Mishandling Funds and Lying to Regulators
https://www.nytimes.com/2023/06/05/business/sec-binance-charges.html

SEC sues Binance and CEO Changpeng Zhao over U.S. rule violations
https://www.youtube.com/watch?v=_VaB7DyVXLU

That's GREAT! So why is Bitcoin dropping? Binance is the opposite of what Bitcoin needs.

[Biodom]

Interesting...SEC came up with a 'dirty dozen' list of "securities":

BNB, BUSD, SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS, COTI (see page 85 of the doc).

Interesting omissions include XRP and ETH.
Make your own conclusions from this.

[machasm]

Interesting omissions include XRP and ETH.
Make your own conclusions from this.

They don't want to use all their FUD up at once.
Saving that shit for another day I'm sure.
I swear this bear market is one of the most tedious so far and I have been through a few I can tell you.

[Gachapin]

S.E.C. Accuses Binance of Mishandling Funds and Lying to Regulators
https://www.nytimes.com/2023/06/05/business/sec-binance-charges.html

SEC sues Binance and CEO Changpeng Zhao over U.S. rule violations
https://www.youtube.com/watch?v=_VaB7DyVXLU

That's GREAT! So why is Bitcoin dropping? Binance is the opposite of what Bitcoin needs.

traders & idiots  (not mutually exclusive)

Interesting omissions include XRP and ETH.
Make your own conclusions from this.

They don't want to use all their FUD up at once.
Saving that shit for another day I'm sure.
I swear this bear market is one of the most tedious so far and I have been through a few I can tell you.

I hope you are right...  how could cRipple and mETH not be securities

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[OgNasty]

I've been waiting for Binance to be targeted as soon as the FTX situation blew up and regulators realized that Binance did the exact same thing as FTX, but they were able to survive a cycle doing so and became insanely wealthy as a result.  Looks like now that regulators have caught on, they are going to be looking to take a piece of flesh from CZ.  This is in no way a positive development for Bitcoin in the short term, and we're already seeing the start of the pain, but long term I think if we want to see Bitcoin hit the high 6 figures, it is absolutely necessary to weed out the bad actors in the space, and Binance is just FTX with a first mover advantage.

[Richy_T]

So much for the weekend dip

[Biodom]

I've been waiting for Binance to be targeted as soon as the FTX situation blew up and regulators realized that Binance did the exact same thing as FTX, but they were able to survive a cycle doing so and became insanely wealthy as a result.  Looks like now that regulators have caught on, they are going to be looking to take a piece of flesh from CZ.  This is in no way a positive development for Bitcoin in the short term, and we're already seeing the start of the pain, but long term I think if we want to see Bitcoin hit the high 6 figures, it is absolutely necessary to weed out the bad actors in the space, and Binance is just FTX with a first mover advantage.

Who is a good actor among exchanges?
Some say that they are, but they got NO volume, like Gemini.
Congress needs to pass some laws pronto or, else, american exchanges can be shut down and US would lose whatever they did not lose yet (in this space).