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

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[1715209658]

1715209658

[1715209658]

1715209658

[1715209658]

1715209658

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[OgNasty]

The CEO for Binance US just resigned. This is not a good thing by any means. I assume that means that Binance US was doing some shady things with customer deposits. While the US branch of Binance is just a company licensing their name, I do believe that they intermingled funds at some point, which would be a no-no. Get your big boy pants on. The market is about to separate the believers from the speculators.

[philipma1957]

The CEO for Binance US just resigned. This is not a good thing by any means. I assume that means that Binance US was doing some shady things with customer deposits. While the US branch of Binance is just a company licensing their name, I do believe that they intermingled funds at some point, which would be a no-no. Get your big boy pants on. The market is about to separate the believers from the speculators.

nice cheap corn

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Greyhats]

The CEO for Binance US just resigned. This is not a good thing by any means. I assume that means that Binance US was doing some shady things with customer deposits. While the US branch of Binance is just a company licensing their name, I do believe that they intermingled funds at some point, which would be a no-no. Get your big boy pants on. The market is about to separate the believers from the speculators.

nice cheap corn

Love Corn :-)
https://www.mashupmom.com/wp-content/uploads/2021/02/love-corn-snacks.jpg

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[philipma1957]

buddy grinds on.

[sirazimuth]

Off topic (as usual for me), BUT the pic isn't...so there is that.
So I set up a little polishing station in the new garage.
Here's the medallion I made for myself 3 years ago. (I made El Duderino the twin. Most of the OGS in here have likely seen them already from past posts)
I got obsessed with You Tube restoration videos and polishing to a mirror finish.
So had to try it myself, and what better piece to try it out on than a work made, CNC milled, stainless steel medallion?
I almost got desired result, but taking a pic doesn't do it justice, as the mirror finish plays havoc with the lighting.
Plus I don't want to publish a mirrored selfie of myself in the piece, taking a pic.  Not good for opsec, lol.

 That looks awesome!  New nickname for you - Al Bedo.
I made a half-assed (best I could do given time constraints) side by side of an original vs the upgrade -

 

Nice job bro!
I’m not very busy tonite at work. Here’s something from my Mastercam home project archive.
Ironically I refer to them as “homer” projects, lol. I updated and added a couple of details to the file…

[xhomerx10]

Off topic (as usual for me), BUT the pic isn't...so there is that.
So I set up a little polishing station in the new garage.
Here's the medallion I made for myself 3 years ago. (I made El Duderino the twin. Most of the OGS in here have likely seen them already from past posts)
I got obsessed with You Tube restoration videos and polishing to a mirror finish.
So had to try it myself, and what better piece to try it out on than a work made, CNC milled, stainless steel medallion?
I almost got desired result, but taking a pic doesn't do it justice, as the mirror finish plays havoc with the lighting.
Plus I don't want to publish a mirrored selfie of myself in the piece, taking a pic.  Not good for opsec, lol.

 That looks awesome!  New nickname for you - Al Bedo.
I made a half-assed (best I could do given time constraints) side by side of an original vs the upgrade -

 

Nice job bro!
I’m not very busy tonite at work. Here’s something from my Mastercam home project archive.
Ironically I refer to them as “homer” projects, lol. I updated and added a couple of details to the file…

 Wow!  I am honoured... and speechless.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Biodom]

A portion of US population is rapidly going bankrupt:

Average mortgage is $2300/mo
Average rent is $1700/mo
Average household income is $70K (which is probably about $55K or less after taxes, give or take).
See some affordability numbers here:
https://www.youtube.com/watch?v=VqPcil1HX-Y

Average Social security payment for seniors is $1700, so if they rent, then they have no money left, literally...a straight path to homelessness:
https://www.wsj.com/economy/housing/why-more-baby-boomers-are-homeless-2d2b913b

For younger people: $1700 rent (and much more in some cities) plus $300-400 student loan=$2100/mo=25K a year out of average 54K (44k after taxes) salary for a 25-34 year old.
The result: not much left after buying groceries and a car payment, maybe almost nothing, and this is in a supposedly richest country in the world.

Conclusion: it looks like the society will be changing soon...much less prosperity, more suffering.
Can bitcoin strive when large swathes of the population become desperate?
Maybe it can (citadels?), if elites would choose it for capital preservation, but I sincerely doubt truly mass participation by the rest of the populace as they simply don't have money to invest while living paycheck to paycheck (apparently 61% are those).

The current trends will soon make a huge chasm between the top 5-10% and the rest.
Imho, the society would start to resemble the preindustrial (feudal) age: almost everyone would be either rich or poor with almost no middle class.
Unfortunately, bitcoin cannot prevent this and it could even hasten the transition through no fault of its own: everything else would just sink and bitcoin would remain.

[philipma1957]

@ biodom

Some f.u.d

https://www.yahoo.com/finance/news/vladimir-putin-says-inflation-russia-020206878.html

deep in the article it states Russia has 12.5% interest rates and inflation is around 5.25%

Trump
Biden
Turtle neck forget his name
Pelosi

are all older than 76

they are all pre boomers.

They can read this as US is winning as out  interest is only 7.2% and our inflation rate is under 5%.

Thus fed rates be going up again as US is betting they will tap out Russia.


What does it mean? Hodl you BTC as it is going to boom once this USA vs Russia game stops.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[OgNasty]

I keep seeing reports claiming that Blackrock is buying billions of dollars worth of Bitcoin right now. I actually hope that isn’t true because if they are and the market is still down this bad then I think that doesn’t show strong demand. With some luck they haven’t started buying yet, or the ETF approval might be a let down.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[hisslyness]

I keep seeing reports claiming that Blackrock is buying billions of dollars worth of Bitcoin right now. I actually hope that isn’t true because if they are and the market is still down this bad then I think that doesn’t show strong demand. With some luck they haven’t started buying yet, or the ETF approval might be a let down.

If I was planning on launching a ETF in the next 12months, I would have either already bought, or now be a perfect time to load up on Bitcoin.

Or maybe the quant's they got working for them have figured out a way to suppress the price of bitcoin, through mempool attacks, FUD and fake news etc, while they buy OTC rather than spot exchanges.

Either way, i am sure they have figured out how to make billions from this! $10T AUM moves financial markets, if they want it to.....

On another note, about Blockrock/State Street and Vanguard, was looking through the largest shareholders of ASX listed companies here in Australia, and most of them has BR/SS/VG for 5%+ EACH! 15%+ of the company shares are owned by these 3 behemoths.

It would be interesting to see what software they are using to track all these ownership and dividend payments... would they know if 1-2M went missing... based on $10T and 4% Dividend that is $400B incoming each year....

[hisslyness]

A portion of US population is rapidly going bankrupt:

Average mortgage is $2300/mo
Average rent is $1700/mo
Average household income is $70K (which is probably about $55K or less after taxes, give or take).
See some affordability numbers here:
https://www.youtube.com/watch?v=VqPcil1HX-Y

Average Social security payment for seniors is $1700, so if they rent, then they have no money left, literally...a straight path to homelessness:
https://www.wsj.com/economy/housing/why-more-baby-boomers-are-homeless-2d2b913b

For younger people: $1700 rent (and much more in some cities) plus $300-400 student loan=$2100/mo=25K a year out of average 54K (44k after taxes) salary for a 25-34 year old.
The result: not much left after buying groceries and a car payment, maybe almost nothing, and this is in a supposedly richest country in the world.

Conclusion: it looks like the society will be changing soon...much less prosperity, more suffering.
Can bitcoin strive when large swathes of the population become desperate?
Maybe it can (citadels?), if elites would chose it for capital preservation, but I sincerely doubt truly mass participation by the rest of the populace as they simply don't have money to invest while living paycheck to paycheck (apparently 61% are those).

The current trends will soon make a huge chasm between the top 5-10% and the rest.
Imho, the society would start to resemble the preindustrial (feudal) age: almost everyone would be either rich or poor with almost no middle class.
Unfortunately, bitcoin cannot prevent this and it could even hasten the transition through no fault of its own: everything else would just sink and bitcoin would remain.

Joining the armed forces is looking more and more attractive...

https://www.army.mil/article/253221/army_offers_up_to_50k_in_enlistment_incentives

Even got a 50K bonus to help pay down those student loan!