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

[ChartBuddy]

Explanation
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[ivomm]

All kidding aside, but I think yesterday's market reaction to the bad news of a kinda ban on the two largest exchanges in US was extremely surprising. Especially when you consider that there is an order to freeze the finances of binance in the states, and it is the exchange that actually dictates the price movements. There are always a lot of risky players in that exchange, whose long and short positions have a significant impact on the spot market. I personally expected a big long liquidation, as we saw a lot in 2022. Instead, the market bounced back, and not with some minute or hourly bounce, but a stable 5% for 24 hours. Totally illogical, and I'm sure the most surprised is Gary, who I have no doubt now is financially involved in various shitcoins he's clearing the way for. However, the question is different. If, after bouncing off the 15K bottom, the market has apparently found a new 25K bottom, then this is a very significant signal for the continuation of the bull run this year. Only a very severe global tragedy or a targeted bitcoin ban in the States could delay this by a few months at worst. Honey badger can't be stopped!

[ChartBuddy]

Explanation
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[Bd officer]

The best performing financial asset in the world for the last decade is #bitcoin



source

[SamReomo]

I can see that Bitcoin is going bullish and may cross 27500$ price within a day or two if the bullish pattern continues. The market might recover from the last dump and may not see any further dumps in coming days, but due to harsh actions of the Sec against exchanges the things might be bearish once again.

I hope that Binance won't go down after this thing because if the Binance shuts its operations in the U.S than at the initial stage of that the market may see a huge dump. I'm hoping that Binance will continue it service in U.S and should face the Sec by providing the valid documents and if it fails to do that than things won't be good in the market in coming days.

The U.S is truly against all exchanges and will have mush strict actions against all those exchanges that are operating in the jurisdiction. I hope that the actions might be useful for be betterment of crypto-currencies, but at the same time I can smell the huge boom of regulations that's going to take place. I think they are making a way for CBDCs, and with each success in their operations they are getting close to their goals.

[Gachapin]

DASH? Wut?

My conclusion is they don't know what in Sam Hill they're talking about, but what's new.

AFAIK the Dash / Xcoin scam also looks like a security..

- it was advertised as a for-profit startup on the Bitcoin dev mailing list

- obvious scammy instamine of 2 million coins in one day

- after the instamine the devs changed the monetary policy by lowering the coins max supply from 84M to about 19M which increased the premined coins value

- 55% of new coins go into community fund and into the staking system of the masternodes (of which most are from the premine btw)

I haven't owned any DASH in a long time but some of this incorrect:

- 45% of DASH goes to stakers (masternodes)
- I was around at the beginning and the "instamine" seemed like an honest mistake. There was never any guarantee of success -- the coin could have flopped hard from the beginning but the fact that the tech is interesting has helped it stay in the top 100. Only after it showed signs of success did people start declaring it a scam.

However, stuff like this certainly doesn't help its case:



The team behind it did fumble the ball repeatedly on what could have been a decent privacy coin. Nowadays you're better off using XMR or MWEB on LTC anyway.

Sorry, no. What I wrote was absolutely correct:
I said 55% go in the community fund and into the staking system. (so 10% for the community found and 45% for the masternodes)



You say: "the instamine seemed like an honest mistake"...

Haha.. yes...  the kind of "mistake" that accidentally enriched Evan and his friends.  They even launched the mining while leading other miners to believe that the start would be much later, so that they wouldn't join.

This and the "bug" then allowed them to mine 2M coins within 1 day for themselves.  
If they were so honest as you assert, why didn't they restart the project / burned the coins, or else?   No, they instead lowered the max supply so that their "honest mistake" would have an even bigger impact, and their (2M coins) would gain an even bigger share of the total supply.

That's obvious scammy self-enrichment (even if we naively assumed that the bug was real).
Actually, I wonder how people could even defend such a sham..

[ChartBuddy]

Explanation
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[ChartBuddy]

Explanation
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[nutildah]

Sorry, no. What I wrote was absolutely correct:
I said 55% go in the community fund and into the staking system. (so 10% for the community found and 45% for the masternodes)

45% of new coins produced are staking rewards to do with whatever the masternodes please, they don't go "into the staking system." You don't get more rewards for having over 1,000 DASH as masternode collateral. The constant sell pressure of masternode rewards is actually what is regularly blamed by the Dash community for dragging the price down.

You say: "the instamine seemed like an honest mistake"...

Haha.. yes...  the kind of "mistake" that accidentally enriched Evan and his friends.  They even launched the mining while leading other miners to believe that the start would be much later, so that they wouldn't join.

This and the "bug" then allowed them to mine 2M coins within 1 day for themselves.  
If they were so honest as you assert, why didn't they restart the project / burned the coins, or else?   No, they instead lowered the max coin supply, so that their "honest mistake" would have an even bigger impact, and their (2M coins) would gain an even bigger share of the total supply.

That's obvious scammy self-enrichment (even if we naively assumed that the bug was real).
Actually, I wonder how people could even defend such a sham..

There were 100s of altcoins being launched back then, some of them absolutely did have premines and whatever other mechanisms to enrich their devs. Almost none of them are around anymore. Why do you think they're gone and Dash is still here?

Again, nobody cared about the instamine until after the coin was already successful. If it was just another run-of-the-mill shitcoin it would have failed long ago. I wonder how people could still carry a grudge about something that happened over 9 years ago.

[eXPHorizon]

Explanation
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[ChartBuddy]

Explanation
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[HI-TEC99]

...

Breaking News!

 An authoritative source has informed me that the dust has finally settled on the defunct QuadrigaCX exchange and former customers are getting ~13% of their money/coins deposited back based on the values when the exchange went bust.

Edit: cheques are currently being delivered.

I don't see any link so it must not be true.

This lazy cat bot does not do google self-searching

https://cointelegraph.com/news/quadrigacx-creditors-set-to-receive-13-of-their-claims-as-an-interim-dividend

Creditors of the bankrupt Canadian crypto exchange QuadrigaCX are set to receive 13% of their total claims as part of an “interim dividend.”

According to a May 12 notice to creditors from QuadrigaCX’s bankruptcy trustee Ernst & Young (EY), each “creditor with a proven claim will receive 13.094156% of their proven claim less the levy amount payable to the Office of the Superintendent of Bankruptcy pursuant to the BIA.”

“The interim dividend provides for a distribution of approximately 87.0% of the funds the Trustee is currently holding. The remaining funds will be held as a reserve for future disbursements related to the administration of the bankruptcy. A final distribution will be made at a later date,” EY added.

https://www.reddit.com/r/QuadrigaCX/comments/141hq7h/got_my_claim_cheque_what_a_joke/

Got my claim cheque. What a joke.

I had over 1.2 BTC when quadriga shut down in two seperate accounts. (That's almost 70k CaD in today money)

I received this today from one account. It had 0.53 BTC in it at the time, worth over $17k Canadian today.

They calculated the BTC at the value it was when quadriga closed down.

Can I have my BTC back instead?

Fuck you E&Y, youre just as much of a crook that quadriga was.

[Gachapin]

Sorry, no. What I wrote was absolutely correct:
I said 55% go in the community fund and into the staking system. (so 10% for the community found and 45% for the masternodes)

45% of new coins produced are staking rewards to do with whatever the masternodes please, they don't go "into the staking system." You don't get more rewards for having over 1,000 DASH as masternode collateral. The constant sell pressure of masternode rewards is actually what is regularly blamed by the Dash community for dragging the price down.

We can twist words but still 45% of new coins went to the masternodes and 10% to the community fund. (btw wasn't the fund also controlled by votes of the masternodes or so? Lost my memory)

1,000 Dash per node, yes. But there is the possibility that a single staker splits his coins to several 1000Dash nodes to increase his staking reward. no?

You say: "the instamine seemed like an honest mistake"...

Haha.. yes...  the kind of "mistake" that accidentally enriched Evan and his friends.  They even launched the mining while leading other miners to believe that the start would be much later, so that they wouldn't join.

This and the "bug" then allowed them to mine 2M coins within 1 day for themselves.  
If they were so honest as you assert, why didn't they restart the project / burned the coins, or else?   No, they instead lowered the max coin supply, so that their "honest mistake" would have an even bigger impact, and their (2M coins) would gain an even bigger share of the total supply.

That's obvious scammy self-enrichment (even if we naively assumed that the bug was real).
Actually, I wonder how people could even defend such a sham..

There were 100s of altcoins being launched back then, some of them absolutely did have premines and whatever other mechanisms to enrich their devs. Almost none of them are around anymore. Why do you think they're gone and Dash is still here?

A scam doesn't get better because it lasts longer than others.

And if we went by the standard of what shitcoin outlived others, cRipple must be even better than Dashit, no?  It's #6 in CMC today, and it's even older...

Again, nobody cared about the instamine until after the coin was already successful. If it was just another run-of-the-mill shitcoin it would have failed long ago. I wonder how people could still carry a grudge about something that happened over 9 years ago.

Of course nobody cares about a scam, when there is little to no money involved.  But that's no argument for it not being a scam.

Also the fact that nobody knew if Dash would succeed doesn't make it less shady.

I don't carry any grudge.
I'm simply critical towards narratives defending obvious rip-offs...  And believe me, I made some good money off scammy airdrops and forks

[vapourminer]

I wonder how people could still carry a grudge about something that happened over 9 years ago.

*cough* mark karpeles *cough*

[ChartBuddy]

Explanation
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[d_eddie]

got me a cool email:

"Hello
I know your password!

--snip--

And I MADE A VIDEO SHOWING BOTH YOU (through your webcam) AND THE VIDEO YOU WERE WATCHING (on the screen) WHILE SATISFYING YOURSELF!

I can send this video to all your contacts (email, social network) and publish all your private stuff everywhere!

You can prevent me from doing this!
To stop me, transfer exactly: 400$ with the current bitcoin (BTC) price to my bitcoin address.

If you don't know how to get bitcoin, Google - "How to buy Bitcoin", it's very simple for example with credit card. The wallet you can create here: https://www.blockchain.com

My bitcoin address is: ------SCAMMERblahGrMSR1ktL4Tkow4s------ (disabled it)

I've been getting a lot of the same for years already.
I do have a cam on my monitor, but it's one of those with hardware protection (a lid). I chose it like this on purpose.
Even if it didn't have a physical cover, I'd laugh in their face.
Scum.

[philipma1957]

got me a cool email:

"Hello
I know your password!

--snip--

And I MADE A VIDEO SHOWING BOTH YOU (through your webcam) AND THE VIDEO YOU WERE WATCHING (on the screen) WHILE SATISFYING YOURSELF!

I can send this video to all your contacts (email, social network) and publish all your private stuff everywhere!

You can prevent me from doing this!
To stop me, transfer exactly: 400$ with the current bitcoin (BTC) price to my bitcoin address.

If you don't know how to get bitcoin, Google - "How to buy Bitcoin", it's very simple for example with credit card. The wallet you can create here: https://www.blockchain.com

My bitcoin address is: ------SCAMMERblahGrMSR1ktL4Tkow4s------ (disabled it)

I've been getting a lot of the same for years already.
I do have a cam on my monitor, but it's one of those with hardware protection (a lid). I chose it like this on purpose.
Even if it didn't have a physical cover, I'd laugh in their face.
Scum.

I have gotten these for say 10 years.

I looked up the BTC address he/she or it gave me and it has seven $400 dollar deposits. So amazingly he got seven people to pay him.

 Usually when I get these and bother to check the given address it is a dead unused address.
I found it unusual that the address got payments.

[d_eddie]

got me a cool email:

"Hello
I know your password!

I've been getting a lot of the same for years already.

I have gotten these for say 10 years.

I looked up the BTC address he/she or it gave me and it has seven $400 dollar deposits. So amazingly he got seven people to pay him.

 Usually when I get these and bother to check the given address it is a dead unused address.
I found it unusual that the address got payments.

There a hypothesis that the scammers themselves send some self payments to make it look legit.

[philipma1957]

Something tells me that the aliens would probably be more interested in crypto than fiat…

What if Bitcoin was the advancement they were waiting for us to make?

Or maybe they just want to steal our cows.

Beef it is what's for dinner!

[ChartBuddy]

Explanation
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