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

[philipma1957]

buddy be grinding away. ugh

[1714262031]

1714262031

[1714262031]

1714262031

[1714262031]

1714262031

[1714262031]

1714262031

[1714262031]

1714262031

[Who is John Galt?]

And you want to buy their Bitcoin ETF!.... Think again! #NYKNYB

Dude...nobody here will ever buy a spot ETF but millions of investors would love using it without having to worry about self custody or figuring out how to use an exchange. That's the whole meaning of it about spot ETF's.

One of the main problems with all ETFs is that any centralized organization requires trust. In fact, they can endlessly issue their ersatz bitcoins if they manage to resolve the issue with the regulatory authorities. So we can only hope they don't issue much more. 21 million real bitcoins and an infinite number of centralized ersatz bitcoins. And the problem is that for average Joe, there is no difference between real bitcoins and their centralized replacement. Even if we understand the difference, it's really important to us that average Joe doesn't get fooled either. Bitcoin is either for everyone, or it will not be able to fully work for a small group of people who understand.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[philipma1957]

buddy checked yet again .

[AlcoHoDL]

"ETF is good."
"No, ETF is not good."
Make up your mind folks.

No WOer would buy...
...corn without owning the keys.
The world ain't WO though.

Let ETF be...
...for those who can't be a bank.
You and me do us.

Whatever happens,
Honey Badger just don't care.
1 corn is 1 corn.

ETF or not,
We know where this is going.
Just enjoy the ride!

#sundaydigesthaikus

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Hueristic]

Back above $30,000 but still ranging between $29,500 and $31,800. It’s getting a bit boring but we’ll have a significant breakout within the next month or so. My bet would be to the upside.

Nothing else to say really, apart from buy any significant dip.

We’re in the first weeks of a new bull market, nothing exciting until 2024 unfortunately. Time to kick back and enjoy the rest of the summer.

[JayJuanGee]

And you want to buy their Bitcoin ETF!.... Think again! #NYKNYB

Dude...nobody here will ever buy a spot ETF but millions of investors would love using it without having to worry about self custody or figuring out how to use an exchange. That's the whole meaning of it about spot ETF's.

Don't forget there are a lot of investors that cannot buy Bitcoin because of restrictive investment mandates, for example, which instead could buy an ETF. This is unlocking a significant investment mass to Bitcoin.

I think India 🇮🇳 would be in that club.

What do you mean by "India?"

There is India as a country - and various governmental institutions that may well be local in nature and may or may not be compelled by national government mandates, there are various kinds of indian businesses (likely various company structures, public, private, large and small), and there are indian individuals, some of them poor, some rich, some of them acting within a family structure and some of them acting on their own.

Of course, some kinds of entities are not easily able (or allowed) to custody assets that they invest in, and every country or jurisdiction will have various rules about that, to the extent that rules are followed.  Of course, some individuals might not realize advantages in terms of holding bitcoin directly, and sometimes they will only begin to invest into bitcoin when they have official channels - but they might not realize that one of the BIG advantages of bitcoin is the ability to hold it directly, and many might not even realize some of the trapping aspects of investing into an ETF , in which the other entity (Blackrock or one or more of the others) ends up custodying the asset, but also they have the total power that comes from holding the actual asset rather than those investing into it ONLY have a claim to the asset - so they would likely be better off not to be putting all of their eggs in that basket, even if they might perceive that an ETF gives them an ability to get price exposure to bitcoin (and actually not really realizing the materially difference of actually holding the BTC).. 

.. and just consider how many BTC that people are going to end up buying for Blackrock and some of the other ETFs if they are actually passed in the USA...

There may well be some pretty DAMNED BIG ASS rug pullings in the future.. yet let's see how long it might take to play out.. governments and large institutions and very rich people getting rug pulled, likely to even be BIGGER than FTX's rug pull (even if we consider that some of FTX's assets might end up getting recovered (and clients receiving some of that recovery), perhaps?).

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Out of mind]

Back above $30,000 but still ranging between $29,500 and $31,800. It’s getting a bit boring but we’ll have a significant breakout within the next month or so. My bet would be to the upside.

Nothing else to say really, apart from buy any significant dip.

We’re in the first weeks of a new bull market, nothing exciting until 2024 unfortunately. Time to kick back and enjoy the rest of the summer.

Soon,,,!!!BTC

[JayJuanGee]

buddy why 29k why no 30k or better yet take the night off.

Buddy, I want the Bitcoin market to improve by waiting for the bull market of 2024.
Maybe, this is the last chance to buy Bitcoin.
There is an upward push for Bitcoin after August.

You speak-eth unclearedly FinePoine0.

You mean last chance to buy bitcoin below $30k?

There are always chances to buy bitcoin, whether you buy it now at $30k, or sometime in the future at $300k or at $3 million or some other price.

Of course, if you buy BTC at some of the higher prices, then you may well end up having to wait longer for your BTC to be in profits, if one of your goals might be to buy low and sell high.. or to just have more options when your BTC are in profits as compared to buying BTC and NOT being in profits.
 

Thanks for the invite @AlcoHoDL.

I am going to argue with your haikus.

It be called: "argue with haiku sunday".....in your words:  "#sundaydigesthaikus"

"ETF is good."
"No, ETF is not good."
Make up your mind folks.

Why not both?

No WOer would buy...
...corn without owning the keys.
The world ain't WO though.

Why not both?

Let ETF be...
...for those who can't be a bank.
You and me do us.

Why not both?  We are likely going to be a bank if we HODL a sufficient number of BTC, and it is up to each of us to decide how much is a sufficient amount of BTC and how much we are going to participate in the economy in which we might be providing liquidity to the market.. or passing down our BTC to relatives who may or may not deserve them in terms of their abilities to preserve and pass down further wealth.., or might we want to die with some of our BTC in order to "give back" to fellow HODLers?

Whatever happens,
Honey Badger just don't care.
1 corn is 1 corn.

Why not both?  

1 corn is also $28,978, as I type this post.

ETF or not,
We know where this is going.
Just enjoy the ride!

True dat.

#sundaydigesthaikus

fair enough.

Back above $30,000 but still ranging between $29,500 and $31,800. It’s getting a bit boring but we’ll have a significant breakout within the next month or so. My bet would be to the upside.

Nothing else to say really, apart from buy any significant dip.

We’re in the first weeks of a new bull market, nothing exciting until 2024 unfortunately. Time to kick back and enjoy the rest of the summer.

What is that supposed to mean?

[edited out]

Soon,,,!!!BTC

Oh?  Ouch!!!!

[hafiztalha]

Josef Tětek, Bitcoin BTC analyst at Trezor, spoke with CNBC about the growth of #Bitcoin BTC in Prague. 👀

 "The Austrian school is very compatible with #Bitcoin BTC  adoption," he said. "A central aspect is the call for a separation of money and state." 🙌


Source

[AlcoHoDL]

[... #sundaydigesthaikus ...]

Why not both?

Exactly! You've managed to compress 5 haikus into 3 words, while stripping all the poetry!

No arguments there, we are in agreement (as we mostly are).

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Odohu]

And you want to buy their Bitcoin ETF!.... Think again! #NYKNYB

Dude...nobody here will ever buy a spot ETF but millions of investors would love using it without having to worry about self custody or figuring out how to use an exchange. That's the whole meaning of it about spot ETF's.

One of the main problems with all ETFs is that any centralized organization requires trust. In fact, they can endlessly issue their ersatz bitcoins if they manage to resolve the issue with the regulatory authorities. So we can only hope they don't issue much more. 21 million real bitcoins and an infinite number of centralized ersatz bitcoins. And the problem is that for average Joe, there is no difference between real bitcoins and their centralized replacement. Even if we understand the difference, it's really important to us that average Joe doesn't get fooled either. Bitcoin is either for everyone, or it will not be able to fully work for a small group of people who understand.

This is exactly what I think about ETFs. Anyone can get that after settling with the regulatory authorities. The effect on the long run will be a shift from decentralisation to centralisation. 

Fine, the ETF will increase the penetration of Bitcoin and bring institutional investment which is good for Bitcoin. But control might creep in and that will defeat the very essence of this amazing technology.

[AlcoHoDL]

OT -- I used to admire and respect Neil DeGrasse Tyson. And then I saw this:

LOL: Neil DeGrasse Tyson Says Gender Is A Spectrum

Gad Saad's comment on the above is fitting:

Neil DeGrasse Tyson & the Gender Spectrum - My Male-to-Female Transformation

Enjoy!

[Learn Bitcoin]

What are you choosing?
100 Bitcoin 
or
$10Million 💵

Source

This math is easy. Currently, 100 BTC is worth $2.9 Million.

I will take $10 Million and buy 300 BTC with $9.7 Million.

 

[DVlog]

And you want to buy their Bitcoin ETF!.... Think again! #NYKNYB

Dude...nobody here will ever buy a spot ETF but millions of investors would love using it without having to worry about self custody or figuring out how to use an exchange. That's the whole meaning of it about spot ETF's.

One of the main problems with all ETFs is that any centralized organization requires trust. In fact, they can endlessly issue their ersatz bitcoins if they manage to resolve the issue with the regulatory authorities. So we can only hope they don't issue much more. 21 million real bitcoins and an infinite number of centralized ersatz bitcoins. And the problem is that for average Joe, there is no difference between real bitcoins and their centralized replacement. Even if we understand the difference, it's really important to us that average Joe doesn't get fooled either. Bitcoin is either for everyone, or it will not be able to fully work for a small group of people who understand.

Yeah, bitcoin is supposed to be a trustless intermediaries where we do not need to have trust for any central authority. But investor of the bitcoin ETF has to trust their central authority which will always have a counterparty risk like mismanagement, fraud etc. Having a bitcoin in our personal wallet with full custody and investing in the share of a companies bitcoin holding is not the same thing. When i have the power to have my own bitcoin into my own pocket then why i would put it into someone Els's pocket by trusting them that they will not do something inappropriate with it!

[Torque]

BRK/A is completely fkn SUS at this point.

One has to wonder, in a world with massive ongoing inflation, bank and corporate bankruptcies, cratering corporate revenues, and massive layoffs, how a company like BRK/A can literally DOUBLE their stock price since the pandemic started.

And up 5X in just a decade.

I smell shite.

Only in a world that is accelerating into a lowkey kind of hyperinflation could they do that.

I mean...just look at that ridiculous hockey stick chart.

[Learn Bitcoin]

Yeah, bitcoin is supposed to be a trustless intermediaries where we do not need to have trust for any central authority. But investor of the bitcoin ETF has to trust their central authority which will always have a counterparty risk like mismanagement, fraud etc. Having a bitcoin in our personal wallet with full custody and investing in the share of a companies bitcoin holding is not the same thing. When i have the power to have my own bitcoin into my own pocket then why i would put it into someone Els's pocket by trusting them that they will not do something inappropriate with it!

I don't have anything against them since they are helping Bitcoin to spread its use case.
But we already forget why Bitcoin was invented and how people got freedom from Governs and elites. We mix up everything and use Bitcoin with banks and centralized exchanges. We trust others with our coins, while the primary purpose of Bitcoin is to void trusted third parties, banks, for example. I destroyed my online life by doing KYC and sharing original information on social media. I somewhat understand the importance of remaining anonymous and keeping everything private. But it's too late for me. I will make sure my kids do not make the same mistake I did.