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

[Frankolala]

This is just start of Uptober BTC breaks the 28k resistance. I want some more pump.

Internationally October name should be change Uptober. What you say?

Uptober is the right word. Bitcoin breaks 28k
It is not still late to buy more bitcoin as we can see
the price wouldn't come down anymore but it will keep on pumping gradually
The halving is 6 months and some weeks from now.
Oh no, I haven't accumulated up to 1BTC
As long as I continue to DCA, no need for panic

[machasm]

.....

You missed an intermediate bet ($4). Yes, Joe will eventually win exactly $1. The problem is that the bets increase exponentially, and this can quickly bankrupt him in case of a long losing streak.

It's called Martingale. More here:

Martingale (betting system)

But assume random Joe is rich to begin with.  
So that the odds of black coming up enough times in a row to bankrupt him are astronomically small.
He just keeps going till he's up.
Then starts again with that one dollar. rinse and repeat.
I've heard when high rollers try this strategy, the house shuts them down after they are down and a betting limit has been reached.
So yeah, it doesn't work. What a surprise... lol

(fixed that 4$ bet.. I noticed that too right after posting ...)

Or, rich Joe can start off with a $10 bet, thus winning $10, then rinse-repeat. On a ten-fold losing streak (unlikely, but possible), he would have lost just over $10000 and he would then have to bet another $10000 to recover his losses (and eventually end up winning only $10).

Although tempting, it is mathematically proven that the odds are against him on average.

To quote Ace Rothstein (Robert De Niro) in Casino (1995): "We're the only winners. The players don't stand a chance."

I remember years ago when my dear old late Dad told me this "strategy", I couldn't for the life of me figure out why it wouldn't work with say just a few dollars.
As mentioned above, I did do it on my last visit to a casino like 30 years ago, and walked away with 5$ or something. Of course in order to be up that $5, I had to
end my gambling fun right then and there, forever, which of course I didn't do, that's no fun. I promptly lost it all in the slots...After all, it was just house money, man!
Admittedly, I probably lost more trying to win it back. Yup, the house always wins...lol.  (unless you are a card counter, but then you just get kicked out, if recognized)

https://www.youtube.com/watch?v=no1c6rWw0co

I am living proof that there is a problem with this strategy.
Using an online casino.
I lost about $200 give or take doing just this.
What happened was I got a run of straight blacks (Unusual but it does happen!).
Of course I was betting RED.
No problem, or so I thought, until I hit the house rules that would not allow me to double up again.
It appears that the house has a maximum bid.
I am glad that this happened actually, as it stopped me from gambling any further and I have not set foot in a casino since (virtual or otherwise).

[machasm]

O/T I noticed that the mempool has all but cleared this morning. Only about a dozen blocks backlogged.
Maybe the guys in Wizard hats have come to their senses?

[goldkingcoiner]

Just in case any newbies lurking around here need a refreshment course on why its better to have your money in your own Bitcoin wallet instead of in a bank account:



THIS IS WHY BITCOIN.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Lucius]

What is happening? Sunday pump? Why? 

Short liquidations on crypto-tracked futures may have contributed to the rise in bitcoin and ether. Data shows some $94 million in bets against rising prices were impacted on Sunday, creating a “short squeeze” – which occurs when there is a lack of supply and an excess of demand for the stock due to short sellers having to buy stocks to cover their short.

Some 30,000 bearish bets were liquidated, the data shows, with most liquidations taking place on the crypto exchange OKX.

This is one of the possible explanations, but again some will say that it is only October - the leaves are falling from the trees, the price of BTC is rising

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[BitcoinBunny]

Just in case any newbies lurking around here need a refreshment course on why its better to have your money in your own Bitcoin wallet instead of in a bank account:



THIS IS WHY BITCOIN.

Apparently, if you don't want to sleep with this whale then you are just a misogynist white Nazi and you deserve to be cancelled from society.

Being the size of a whale and pretending to care for the environment is a fucking paradox as it is.

And if I would hurt anyone's feelings, good! Have another cupcake, you fucking cupcake.

[goldkingcoiner]

Just in case any newbies lurking around here need a refreshment course on why its better to have your money in your own Bitcoin wallet instead of in a bank account:



THIS IS WHY BITCOIN.

Apparently, if you don't want to sleep with this whale then you are just a misogynist white Nazi and you deserve to be cancelled from society.

Being the size of a whale and pretending to care for the environment is a fucking paradox as it is.

And if I would hurt anyone's feelings, good! Have another cupcake, you fucking cupcake.

Exactly, do not put sugar on your words or she will eat that too!

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Paashaas]

Microsoft’s plan for Crypto wallets in gaming!]

In a world where technology and finance often intersect, a recent revelation has the cryptocurrency community buzzing with excitement and speculation. Microsoft, the tech titan, might be on the brink of reshaping the cryptocurrency landscape, with potential implications for crypto assets.
.....
The leaked documents paint a picture of a holistic “digital ecosystem” that Microsoft envisions. This ecosystem, expected to be rolled out by 2028, promises to be a blend of consoles, mobile devices, web interfaces, handheld gadgets, PCs, and even a cloud-based console. The cherry on top? Integration of cutting-edge artificial intelligence and machine learning capabilities.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[AlcoHoDL]

Just in case any newbies lurking around here need a refreshment course on why its better to have your money in your own Bitcoin wallet instead of in a bank account:



THIS IS WHY BITCOIN.

https://youtube.com/shorts/cjuvjvR3gbo?feature=shared

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[vapourminer]

keep it going buddy

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[philipma1957]

Just in case any newbies lurking around here need a refreshment course on why its better to have your money in your own Bitcoin wallet instead of in a bank account:



THIS IS WHY BITCOIN.

https://youtube.com/shorts/cjuvjvR3gbo?feature=shared

you tube clip s funny.

at goldkingcoiner did that really happen in germany 🇩🇪?

[goldkingcoiner]

Just in case any newbies lurking around here need a refreshment course on why its better to have your money in your own Bitcoin wallet instead of in a bank account:



THIS IS WHY BITCOIN.

https://youtube.com/shorts/cjuvjvR3gbo?feature=shared

you tube clip s funny.

at goldkingcoiner did that really happen in germany 🇩🇪?

Yes. He has an entire blog about the situation. You can translate it into english: https://www.danisch.de/blog/2023/07/09/under-attack-wie-die-gruenen-mein-blog-angreifen/

[El duderino_]

Bali treated me well ✅