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

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Hamich124D]

Well i guess it was inevitable: https://www.theblock.co/post/236838/crypto-exchange-kucoin-mandatory-kyc

Are there any non-KYC "good enough" exchanges left at this point ? Not including DEX of course.

that'd interest me as well..

KuCoin and Poloniex seem to be somewhat trustworthier but they can demand KYC at any time. Poloniex has low volume though.

Thanks. Do you know if they accept/do (fiat) bank transfer without kyc?

KuCoin is going full KYC starting july 15.

[Who is John Galt?]

KuCoin is going full KYC starting july 15.

Over time, all centralized exchanges will do this. The future is with DEX. KYC is incompatible with bitcoin in its concept. Privacy and anonymity, I do not intend to go through the KYC procedure on any exchanges.

[Out of mind]

https://twitter.com/CryptoCon_/status/1674071466784980993?t=Tt5UXApl64WwcSJ3OynT2A&s=19

[OgNasty]

KuCoin is going full KYC starting july 15.

Over time, all centralized exchanges will do this. The future is with DEX. KYC is incompatible with bitcoin in its concept. Privacy and anonymity, I do not intend to go through the KYC procedure on any exchanges.

Slowly but surely the SEC is threatening or shutting down exchanges and services that don’t comply with their policies. This is going to bring an end to a lot of cool projects, but it will also level the playing field for those looking to start legitimate businesses. Personally I liked Bitcoin more before the regulation when cool services were everywhere, but this seems a necessary development in order for Bitcoin to thrive.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Who is John Galt?]

KuCoin is going full KYC starting july 15.

Over time, all centralized exchanges will do this. The future is with DEX. KYC is incompatible with bitcoin in its concept. Privacy and anonymity, I do not intend to go through the KYC procedure on any exchanges.

Slowly but surely the SEC is threatening or shutting down exchanges and services that don’t comply with their policies. This is going to bring an end to a lot of cool projects, but it will also level the playing field for those looking to start legitimate businesses. Personally I liked Bitcoin more before the regulation when cool services were everywhere, but this seems a necessary development in order for Bitcoin to thrive.

And what is the fundamental difference between a project clamped by KYC procedures and a fiat system? First you stop being anonymous, then you stop being able to use the "wrong" bitcoins, then you lose the right to use real bitcoins on the bitcoin blockchain and can only manage ersatz bitcoins in the accounts of a centralized intermediary.

The value of bitcoin lies in its decentralization. I do not need a similar centralized project; instead of a similar centralized project, I can use dollars.

[bct_ail]

KuCoin is going full KYC starting july 15.

Over time, all centralized exchanges will do this. The future is with DEX. KYC is incompatible with bitcoin in its concept. Privacy and anonymity, I do not intend to go through the KYC procedure on any exchanges.

Does a DEX offered Fiat deposit? Is there any? Do not know any. So what kind of future is that if average Joe cannot change fiat in BTC anonymous? It is becoming more and more difficult.

But it is not only KYC at KuCoin. They are also looking at the origin of your Bitcoins:

Pursuant to the requirements of the laws and regulations of applicable jurisdictions, KuCoin also collects additional information related to the customer’s business and risk profile. Risk profile data includes nature and volume of trading activity, origin of virtual funds deposited, Lyu added.

https://cointelegraph.com/news/kucoin-crypto-exchange-to-introduce-mandatory-kyc-in-july

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[FinePoine0]

KuCoin is going full KYC starting july 15.

Over time, all centralized exchanges will do this. The future is with DEX. KYC is incompatible with bitcoin in its concept. Privacy and anonymity, I do not intend to go through the KYC procedure on any exchanges.

Slowly but surely the SEC is threatening or shutting down exchanges and services that don’t comply with their policies. This is going to bring an end to a lot of cool projects, but it will also level the playing field for those looking to start legitimate businesses. Personally I liked Bitcoin more before the regulation when cool services were everywhere, but this seems a necessary development in order for Bitcoin to thrive.

And what is the fundamental difference between a project clamped by KYC procedures and a fiat system? First you stop being anonymous, then you stop being able to use the "wrong" bitcoins, then you lose the right to use real bitcoins on the bitcoin blockchain and can only manage ersatz bitcoins in the accounts of a centralized intermediary.

The value of bitcoin lies in its decentralization. I do not need a similar centralized project; instead of a similar centralized project, I can use dollars.

The exchange KYC procedure refers to the beneficial ownership clause. KYC system must be enabled by your KYC system to guard against anonymity when opening an account at an exchange.
 Making fiat money with bitcoin is 'wrong' because currently the bitcoin investment system is locked in itself.

BTC Hold on , Not Sell......

[goldkingcoiner]

KuCoin is going full KYC starting july 15.

Over time, all centralized exchanges will do this. The future is with DEX. KYC is incompatible with bitcoin in its concept. Privacy and anonymity, I do not intend to go through the KYC procedure on any exchanges.

Does a DEX offered Fiat deposit? Is there any? Do not know any. So what kind of future is that if average Joe cannot change fiat in BTC anonymous? It is becoming more and more difficult.

But it is not only KYC at KuCoin. They are also looking at the origin of your Bitcoins:

Pursuant to the requirements of the laws and regulations of applicable jurisdictions, KuCoin also collects additional information related to the customer’s business and risk profile. Risk profile data includes nature and volume of trading activity, origin of virtual funds deposited, Lyu added.

https://cointelegraph.com/news/kucoin-crypto-exchange-to-introduce-mandatory-kyc-in-july

DEX do not offer fiat deposits. If you want to trade on DEX, buy your coin at a decentralized P2P platform and then swap it to whichever token you feel comfortable with. Although keep in mind that USDT is not the same as USD just as wrapped Bitcoin is not actual Bitcoin (sames goes for any other pegged token). Sure, the prices are pegged but the blockchain is a different one and the pegged asset could be questionable in its security. I suspect the best thing for a Bitcoiner to do is buy and hodl actual, real BTC through a non-KYC, non-custodial and non-centralized method. So if you do that you will see no issue with centralized craptoexchanges being transformed into government-regulated platforms.

[Gachapin]

now that the Blackrock ETF news gets echoed in mainstream media, price begins to dump.... call me shocked   

[LFC_Bitcoin]

now that the Blackrock ETF news gets echoed in mainstream media, price begins to dump.... call me shocked   

Saylor also announced Microstrategy buying more, we always dump when that happens.

Be really bullish if we survive this retest of $30,000 and turn it into support. Would set us up nicely for the next leg up.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Torque]

If I have to describe in one sentence the price action in 2019 and 2020 it would be "The battle for 10K". I'm just curious which will be the new 10K for 2023 and 2024 - 30K, 40K or even 50K? My guess is 40K.

My guess is $29,900 will become the new $9,900.

It'll go sideways for what seems like forever, occasionally teasing > $30k only to get squashed down over again and again.  

^^^^^^^^^^^

Hot take: We are here, and my estimate is that we will remain in this range, barting up and down, throughout 2023 and possibly into 2024.

Don't see any reason on the horizon for that to change until closer to halving. There will be a number of 'head fakes' along the way.

The only thing that could really alter this range bound is if Fed rates dropped by at least 2% or more.

Oh lookie, we still here. Same price range, different day.

Get used to it guyz....

Well at least they are consistent.      

Fear not tho, we are in a long term accumulation phase...

[JayJuanGee]

If I have to describe in one sentence the price action in 2019 and 2020 it would be "The battle for 10K". I'm just curious which will be the new 10K for 2023 and 2024 - 30K, 40K or even 50K? My guess is 40K.

My guess is $29,900 will become the new $9,900.

It'll go sideways for what seems like forever, occasionally teasing > $30k only to get squashed down over again and again.  

^^^^^^^^^^^

Hot take: We are here, and my estimate is that we will remain in this range, barting up and down, throughout 2023 and possibly into 2024.

Don't see any reason on the horizon for that to change until closer to halving. There will be a number of 'head fakes' along the way.

The only thing that could really alter this range bound is if Fed rates dropped by at least 2% or more.

Oh lookie, we still here. Same price range, different day.

Get used to it guyz....

Well at least they are consistent.    

Fear not tho, we are in a long term accumulation phase...

You must really wuv ur lil selfie, Torque.  


 

You will keep citing how correct and wonderful you are, until all of a sudden you will go silent..

 

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Hamza2424]

Oh lookie, we still here. Same price range, different day.

Get used to it guyz....

Well at least they are consistent.    

Fear not tho, we are in a long term accumulation phase...

Days and prices are inconsistent but you said accumulators are heading up, So how long do you think DCA and accumulation really worth.
Because DCA can also wrong in some cases as i was reading thread in trading discussion i am not really sure because its 2 3 weeks back time, the whale accumulator faced a major loss by just adopting the wrong time for the DCA he kept on accumulating during the downfall and after loosing patient He sold most for the assets in a major loss.

Weak point was wrong buying and selling point but at least he kept on holding with the courage to accumulate for around 1 year with massive value.

[BobLawblaw]

Man... I don't think $30k is gunna hold...