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

[ChartBuddy]

Explanation
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[1714287869]

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[1714287869]

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[1714287869]

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[aesma]

MicroStrategy has acquired an additional 14,620 BTC for ~$615.7 million at an average price of $42,110 per #bitcoin. As of 12/26/23,
@MicroStrategy
 now hodls 189,150 $BTC acquired for ~$5.9 billion at an average price of $31,168 per bitcoin.

I fear what would happen to the market when they start selling those BTC, the market may face a huge dump. If I'm not wrong then the MicroStrategy won't be selling their Bitcoin at least for the time when Bitcoin doesn't reaches $1M a Bitcoin.

Their business model is to act as a levered bitcoin play, supported by equity sells and a small cash flow from their other business.
Basically, it is a 2X bitcoin ETF, but with no slippage (which happen in "regular" futures based 2X ETFs, which are typically to run away from).
They will probably de-lever a bit later on.
Ideally, they should de-lever during peaks and lever up during troughs, but imho, Michael Saylor got 'caught up' a little in Dec 2022.
Thankfully, he did not have covenants that might have caused him to sell at a very inopportune moment.
I calculate that at some point in Dec 2022, MSTR probably had almost zero equity: about 2X leverage at 29-30K with the price at $15-16K means that equity was then zero or perilously close to it.

I don't get why he bought so much at basically the current peak though.

[ChartBuddy]

Explanation
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[shahzadafzal]

Another country is moving in the direction of changing its name so that in the future India should be known as Bharat.

"India" sounds more soft, female, melodic...

"Bharat" sounds more harsh, male, rhytmic...

Like the show drummer right after the punch line.

Bharat Tsss

(maybe only to me because i'm a drummer?)

This became a significant discussion point in India and Pakistan during the G-20 summit in India, where official invitation letters featured the name “Bharat” instead of “India.”

Speculation arose that if India adopts “Bhara”’ as its official name, Pakistan might stake a claim to”India.”

 This echoes historical sentiments from independence, where Pakistan objected to “India” due to its association with the Indus Valley within Pakistan.

Instead “Hindustan” or “Bharat” was suggested as more suited names.

The potential outcome of such a shift would be intriguing.

Other than India and Pakistan if you know since 2019, the Dutch government has formally abandoned ‘Holland’ in favor of rebranding as “the Netherlands.”

[AirtelBuzz]

Another country is moving in the direction of changing its name so that in the future India should be known as Bharat.

"India" sounds more soft, female, melodic...

"Bharat" sounds more harsh, male, rhytmic...

Like the show drummer right after the punch line.

Bharat Tsss

(maybe only to me because i'm a drummer?)

This became a significant discussion point in India and Pakistan during the G-20 summit in India, where official invitation letters featured the name “Bharat” instead of “India.”

Speculation arose that if India adopts “Bhara”’ as its official name, Pakistan might stake a claim to”India.”

 This echoes historical sentiments from independence, where Pakistan objected to “India” due to its association with the Indus Valley within Pakistan.

Instead “Hindustan” or “Bharat” was suggested as more suited names.

The potential outcome of such a shift would be intriguing.

Other than India and Pakistan if you know since 2019, the Dutch government has formally abandoned ‘Holland’ in favor of rebranding as “the Netherlands.”

No explanation has been given by the Rashtrapati Bhavan or the central government as to why 'Bharat' was used instead of 'India' in English. However, India's opposition parties say that the official name 'Bharat' has started to be used because of the alliance with the anti-BJP alliance that has been formed under the name of 'India'.

The discussion started with an invitation to a dinner hosted by President Draupadi Murmu on the occasion of the G-20 summit. It says 'President of Bharat'.

[ChartBuddy]

Explanation
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[JayJuanGee]

I heard good things about Niacin (and Glutamin), and about 8 months ago, I was trying to stimulate a discussion on the topic by creating a thread, but I did not stimulate too much of such conversation, and I have been taking those as supplements since starting that thread, yet I am not sure if I feel any results from adding those two to my regime.  I do already take vitamin C and I started taking Zinc recently too.. and gosh I hate to admit all of the supplements that I added recently, so it is not really clear if there are abilities to be scientific if too many are added.. and then a kind of wondering whether any of them are helping anything.

@JayJuanGee I like this topic very much and had a look at the thread you opened about it. It would be nice if you continued the discussion in your thread and I would really like to contribute every now and then as I think it's very interesting and important.
I have some experience to share there. May I ask you guys to keep that in JJG's thread? That would be awesome as the info is gathered in one place and I think it would benefit anyone who is interested or wants to chime in.

Ok.  Maybe you inspired me to try to post more in that other thread?  I posted a response to you in that thread and also to the latest post in the thread - a post I had not responded to  - so the latest post had been dangling since early September.

~snip~
Nice video. It's definitely coming. There will always be noise (read: COVID, Ukraine, FTX, etc.) that causes deviations from the trend, but the trend is there, and always has been. I think we will see 6 digits by 2025. Exact figures like $250,000 are fun and generate clicks, but don't make much practical sense. Bitcoin-friendly banks and ETFs are a necessary "evil" in the path of Bitcoin adoption. It is naive to expect a total collapse of the traditional system, and not everyone can be their own bank. It will not collapse, it will adapt, and it is adapting.

Looking forward to an exciting new year!

They are definitely a necessary evil, no matter how much you look at such things positively, the fact is that banks, funds and most governments of the world do not see anything positive in Bitcoin other than a way to profit. That's why we see that they don't mind too much when someone trades with Bitcoin, but it really bothers them when someone uses it as a means of payment. As far as I know, in Turkey and Thailand, Bitcoin is banned as a means of payment, but trading is allowed, and I wonder if some other countries will perhaps follow that example.

it is quite likely that all kinds of laws are going to end up getting passed, and some of them might make sense or even have outward appearances of trying to do something fair, yet the fact of the matter is that bitcoin cannot really be stopped, even though there are a lot of ways it can be suppressed and maybe just increase some of the wac-a-mole kind of practices - including that some jurisdictions are likely not going to be as hostile as others, and surely some jurisdictions might find it in their interest to go opposite to other jurisdiction that are trying to impose their standards upon another jursidiction.

I also agree that Bitcoin currently does not have the power to seriously disrupt traditional financial systems that have been created for hundreds of years and that people trust to the greatest extent. Bitcoin is more for those looking for an alternative, although human greed and stupidity always find a way to disrupt that. Of course I'm referring to ordinals and all similar nonsense that increase the prices of on-chain transactions and push people even more away from using BTC as a currency.

Bitcoin is somewhat built upon ideals of greed... and acting in your own self-interest makes the system stronger.. and sure, it might seem that there is some gaming going on with the ordinals/inscriptions that is not really sustainable, and it is really difficult to say if there might be some companies making enough money to be paying as much fees as they are paying, and sure there could also be a coupling of an attack that is going along with some degenerate gambling behaviors.. and I am surely not going to claim to know, even though I get the sense that it might not be easy to continue to hold the fees up, and maybe once we get to the halvening, there might be some new dynamics that could incentivize, either way (in terms of keeping the fees up).

You can't enjoy Bitcoin much if you are not feeling healthy, so the health topics are at least a bit related and not completely off-topic here.
But this is just uhm... my opinion, man  

It seems to me that anything is "on-topic" here, unless you devolve into pumping it like a shitcoin, then some of us might start to consider your lack of topicality.

@JJG: Maybe you remember my past with chronic fatigue, this was when pharma couldn't help and i had to dive into biochemistry literature to find promising supplements. This way i learned which ones were actually effective and how they interact. There are some overrated (remember the B12 hype?), some snake-oilish ones, but a few are very effective when dosed and absorbed properly. All the B-Vitamins are cross-dependent in metabolism, it's rarely the case to successfully address a deficit without causing another one in the Group of B-Vitamins. You should probably take B6 and B1 in about double RDA, four hours apart, also to the Niacin to keep things working well over longer times. I'll come back to your Glutamin/Niacin thread later, got some more knowledge and experience to share about these two as well.

In my Gultamin/Niacin thread I was trying to get people to listen to and then to respond to some of the claims in the podcast that I linked, and so far, there have been no one who responded in that thread and claimed to have listened to the podcast and/or had any arguments in regards to the claims within the podcast... which was largely implying that we are more and more Niacin deficient.

[ChartBuddy]

Explanation
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[WatChe]

Another country is moving in the direction of changing its name so that in the future India should be known as Bharat.

https://www.euronews.com/culture/2023/09/09/will-india-be-renamed-bharat-heres-why-some-countries-change-their-name

Already in India many cities have been renamed under current ruling party BJP. Now the ruling party bjp want to rename the country to Bharat and reason is given in the article you shared:

Modi’s Hindu nationalist BJP government has already renamed several cities linked to the Mughal and colonial periods.

Critics see it as an attempt to erase the Muslim Mughals who ruled the country for 300 years.

https://www.euronews.com/culture/2023/09/09/will-india-be-renamed-bharat-heres-why-some-countries-change-their-name

Advance 50k$ celebrations booking at local sweet shop.

[cygan]

[ChartBuddy]

Explanation
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[ChartBuddy]

Explanation
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[goldkingcoiner]

Did they model that car to have a thousand yard stare? It has seen things that it cannot unsee.

So who can give it a try.
Not a place have been to but as a fan of history certain places peeked my interest to one day visit.
A clue, this showed me one of the devastations war can cause.

Already smelling 2024

You literally just found a picture on the internet. That is not how the game works. You are the one who should take the picture and do it in a way that makes the place hard to identify.

Your picture can be image searched easily: https://www.nagasaki-tabinet.com/storage/tourism_attractions/124/responsive_images/Bz4RjFeLNWwSRKVSQB0CwD7Pk4ubUaY6x2dKswOe__1673_1115.jpeg

BIG BREAKING 🤗
90 year-old Saudi Salafic cleric writes a Fatwa deeming Bitcoin acceptable under Islam .

>>>https://twitter.com/bitcoinlfgo/status/1740089832775541033?t=rPT8GwN517ouUQAz-NClUg&s=19

>>> https://twitter.com/AhmedTayy/status/1739942078002655570?t=xF98Y_ixnj9n50WQuodktA&s=19

NEW: 90 year-old Saudi Salafic cleric writes a Fatwa deeming #Bitcoin    acceptable under Islam 👀


Source link


I would like your advice on how much acceptance this news is getting in terms of the legitimacy of Muslims?.  
I think Bitcoin is legal, so it's important to gain acceptance from everyone. Because I invested in Bitcoin, my hard earned money. I don't see any downside to accepting Bitcoin. So I think Bitcoin adoption is applicable for everyone.

This shit is from years ago. 15th Sha'ban 1441H is 2020. Stop spamming.

[JayJuanGee]

[edited out]

You perfectly describe the situation. One needs a strategy but defining it is difficult. Lately I'm talking on another forum (a French one) with people who are planning for FIRE or have done it already, with or without crypto, and clearly their strategies and "fuck you" amount are very varied.

In another thread, I recently tried to outline 6 different hypothetical people - 3 with 10 years investing into bitcoin and 3 investing 5 years into bitcoin, and surely we can see from the different hypothetical folks it become more and more clear that the longer that they have been into bitcoin and/or the more BTC that they have accumulated, the more clear that their going forward strategy (especially in regards to BTC) can be relaxed when they reach a bit of a status, but if they are still not quite to that status, there can be some flexibility, frustration and even a bit of a dilemma to know what to do, even if it might also seem clear that accumulating a certain amount of BTC had ended up paying off for them.

Hypo 1 (10-year BTC investor who came into bitcoin already with a decently large investment portfolio)
This person might have invested into bitcoin for 1-2 years using DCA method, and maybe even lump sum investing, so maybe has a $750 average cost per BTC, and maybe built up 300 BTC, and so maybe he just plays the waves and feels like he has enough BTC, and accomplished most of his DCA in the first couple years of investing, and maybe will still buy some more BTC from time to time when he perceives the BTC price to be low.. such as near or below the 200-week moving average, other than that he might just be either maintaining his stash and/or cashing out some from time to time.

Hypo 2.  (10-year BTC investor who came into bitcoin already with a medium-sized portfolio)
 Maybe this person was investing $250 per week into bitcoin, and invested around 130k into bitcoin and accumulated near 115 BTC, and maybe in recent times (since around late 2020 and early 2021), this person has been starting to feel like he has enough BTC and that he can perhaps start to cut back on his DCA buying of BTC

Hypo 3 (10-year BTC investor who came into bitcoin without any kind of BTC portfolio), and has been investing $20 to $100 per week into bitcoin, and maybe averaged around $60 per week of BTC, invested nearly $32k into BTC and accumulated nearly 28 BTC.  This person still is not quite sure if he has enough BTC, even though he has been consistently investing into bitcoin for the past 10 years. 

And yeah, maybe we can imagine similar kinds of hypothetical folks with ONLY 5 years of investing into BTC.

Hypo 4 (5-year BTC investor who came into bitcoin already with a decently large investment portfolio)
This person might have invested into bitcoin for 1-2 years using DCA method, and maybe even lump sum investing, so maybe has a $7,000 average cost per BTC, and maybe built up 150 BTC [yes, I know, that is $1 million invested into BTC], and so maybe he just plays the waves and feels like he is getting close to having enough BTC, and accomplished most of his DCA in the first couple years of investing, and maybe will still buy some more BTC from time to time when he perceives the BTC price to be low.. such as near or below the 200-week moving average, other than that he might just be either maintaining his stash and/or cashing out some from time to time.

Hypo 5.  (5-year BTC investor who came into bitcoin already with a medium-sized portfolio)
 Maybe this person was investing $1,000 per week into bitcoin, and invested around 260k into bitcoin and accumulated near 20 BTC, and maybe this person is not quite feeling as if he has enough BTC.... but is thinking that he might be getting close to feeling that way in the next year or so.

Hypo 6 (5-year BTC investor who came into bitcoin without any kind of BTC portfolio), and has been investing $100 per week into bitcoin, and maybe invested around $26k into BTC and accumulated nearly 2 BTC.  This person still is considering that he is quite far from having enough BTC, even though he feels pretty comfortable about his investment to date, but he is thinking that he might need to DCA into bitcoin for another 5-10 more years before he starts to feel comfortable, and maybe he is going to need to increase the quantity of his weekly DCA by either increasing income and/or cutting expenses... and he is thinking that he might be able to bring his DCA amount up to $200 or $400 per week and maybe get another 2 or 3 BTC in the next 10 to 15 years or so.

And, part of my point is that the time in which each of these person is going to feel that he has enough BTC is going to differ, and surely there are advantages in regards to having had started accumulated BTC earlier, and it may well be difficult for later comers to catch up.. and even the person with the worst situation (hypo 6) has a pretty decent advantage over a person who is brand new to bitcoin, unless the person comes in and is already able front load the investment and being able to buy a couple of BTC to get caught up to hypo 6.

Relatedly:  I think that part of what I am attempting to do in my sustainable withdrawal thread is to attempt to describe some ways in which guys might start to program in some of their own withdrawal methods, even if they might feel that they are not completely at their entry-level fuck you status, but instead are getting close to their entry-level fuck you status.

In my case a major consideration is family and country. Currently I'm single but I'd like a partner and kids, that costs money. And country, if I don't need to work, I don't need to stay in this expensive, high tax country either. Living in a cheaper place changes the calculation.

Well no matter what, the amount of BTC and/or other resources that you need to reach to get at entry-level fuck you status may well vary, and sure maybe you can bring some costs down by moving to another country, but there are costs and potential complications involved with that too... and having a certain level of resources is also helpful in attracting a life-companion, but sometimes the life companion will also be considering the extent to which you have social connections too, which may or may not be diminished if you move out of your country... because sometimes there can be an exotic factor that gives you social status in moving to another country, but still it might not even play out with easy calculations.. to be young and rich, but then as any of us get older, those are factors too that can some times eliminate some possible life partners.

As for BTC price fluctuating, yeah it means ideally you have some cash to "buy the dips", but also to live let's say the next couple of years, so that you don't need to sell corn during dips.

That is what I try to do in opening post 2 of my sustainable withdrawal system - which is to adjust the amount of the authorized withdrawal based on how far the BTC price is from the 200-week moving average.  Bitmover also created a thread to show an interactive website that we collaborated on to make it easier to plug in your own numbers and see how they look for the attempt to apply my view of a kind of sustainable withdrawal formula.

I'm definitely hodling and DCAing until 100K at least, at that point I think I want to sell a bit, maybe 5% of my stash so that I have cash to buy a dip after that. But that's my current thinking.

That kind of thinking fits more into the creation of formulas for the selling BTC on the way up and fillippone made it easy to plug your own particular numbers into a spreadsheet to try to work out what kinds of selling points you might want to employ, (such as where to start and what kinds of sell increments and your expectations of being able to buy back at lower prices (as a kind of probability set for how likely it might be that you might be able to buy back at certain dip amounts - in the example buying back at 10%, 20% and 30% with a probable likelihood of 70%, 45% and 15% respectively.. which yeah maybe those default probabilities might be too high, perhaps?)).

[ChartBuddy]

Explanation
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[sirazimuth]

Right now I think I'll probably cash mine out and buy a Tesla Cybertruck with the funds.

Out of the frying pan, into the fire.

https://www.youtube.com/watch?v=ynBfSWz_VDs
Before any member of the cult of Elon buys this thing they need to watch this video.
(along with every other video they have watched claiming it's the next best innovation since sliced bread)
Then again its not the narrative Og they want to hear, so attention span will have them turn it off after 1 minute.

[ChartBuddy]

Explanation
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[JayJuanGee]

@El duderino_I have a query like yours.

Where is it guys? 🥱

Bitcoin Bar Budapest, Hungary
https://www.hungarybudapestguide.com/bitcoin-bar-budapest/

budapest, hungary 🥱🥱

You win!

Yes this bar is in Budapest. That's been in place for a long time but they NEVER accepted any payment in BTC (or any crypto).

Extra-ordinary claims require extra-ordinary proof. 

#justsaying

MicroStrategy has acquired an additional 14,620 BTC for ~$615.7 million at an average price of $42,110 per #bitcoin. As of 12/26/23,
@MicroStrategy
 now hodls 189,150 $BTC acquired for ~$5.9 billion at an average price of $31,168 per bitcoin.

I fear what would happen to the market when they start selling those BTC, the market may face a huge dump. If I'm not wrong then the MicroStrategy won't be selling their Bitcoin at least for the time when Bitcoin doesn't reaches $1M a Bitcoin.

I doubt that they are selling, even if BTC reaches $1 million.

Selling does not line up with how they think about their investment into BTC, even if it is true that they could sell if they wanted to, but still that kind of trading mindset and even fucking around with a pristine asset is not really even necessary in order them to be greatly profitable, even if they might be able to perceive a 30% to 50% drop in price coming.. which is another BIG if, but even "if" they could perceive that such a dump is likely coming, that still does not necessarily mean that they would be selling very high quantities of their BTC.. .. maybe 30% at most?  but who cares.  They can do what they like, and each of us have to figure out what we are going to do, and there are much worse things in the world as compared to MSTR/Saylor holding a couple hundred thousand BTC.

By the way, think about blackrock and some of those fucktwats having possession of a few hundred thousand or even a million or more BTC.  That seems to be a bigger problem for manipulation fuckery.. but even with that.  Each of us should still be considering what we are going to do rather than getting too much caught up with the various "what ifs" that may or may not end up being as probable as we might have in our imaginations..

But Glutamine and glutamate do seem to have some kind of a relationship, so I am not going to try to unravel any of that here.. seems to be beyond my depth, but interesting to see that there is some kind of a relationship, and you are not totally off of your rocker, Biodom.  

It's simple...Glutamate (for example in monosodium glutamate) is simply an anionic form of glutamic acid (as glutamine has an acidic carboxyl residue, which can ionize), which is a non-essential amino acid (meaning that we don't have to consume it as food), mostly acting as a potent neurotransmitter and in protein biosynthesis.
This is similar to citric acid/citrate, carboxylic acid/carbonate, etc.

Sorry for a bout of chemistry....but not much is happening to bitcoin price right now.

No wonder your user name is Biodom.. you are a nerd.

.. by the way, we eat all kinds of foods that may or may not be essential, and probably we take all kinds of supplements that may or may not be essential, and so then there still might be questions regarding whether whatever we are eating and/or taking is helping more than it is hurting.. so something still might not be essential, but it might still facilitate nutrient absorption and/or healing.. which also might not be essential, but still it would be helpful to us in certain circumstances.. maybe if we might suffer from various kinds of inflammations and/or irritants in our system, and if some nutrients and/or supplements can help our bodies to function better, then wouldn't we be in a better place from taking/eating those kinds of supplements/foods to the extent that they might exist?  which reminds me?  I bought some peppermint flavored Chlorphyll (liquid by Dynamic Health) the other day, so I am not sure if it is going to help anything, but I am drinking it about once a day, and then now i just noticed that it says pasteurized on the label.. so that might have had negated any potential positive benefits of the matter.. I don't really like the idea of pasteurization, even if it might help something to stay preserved longer.

Bitcoin is the most salable form of money across time and space.

>>> https://twitter.com/SimplyBitcoinTV/status/1740064247953121481?t=FnIkJTXSclsifOBslPEIWQ&s=19

It certainly seems like Bitcoin was a bit of a gift for our planet in that it does seem to act as a store of value over time opposite to fiat currency. Maybe if we start traveling through space this will be a more important feature than it is now, or if people as a whole ever get their financial intelligence up. Right now most people still think Bitcoin is a scam.

Of course bitcoin can do both.. travel over space and also travel over time, so it seems that Saylor is merely trying to emphasize the traveling over time component, which does not eliminate how much space travel that BTC can already perform.. .whether it is the memorizing of 12 words and walking across the border or even the ease upon which millions and billions of dollars can be transferred without having to ask permission from nobody. 

Think about it. 

There could be some difficulties getting in and out of bitcoin due to the crossing through fiat channels, but the more people who use bitcoin and hold bitcoin, then the more likely that off and on ramps are going to continue to expand, which truly is scary for the powers that be to figure out new systems to get compliance with various ways that third-parties and even current status quo rich were able to either rent-seek or other ways of taking their cut in ways that were not necessarily fair and/or deserving.  Freedom to transact is both powerful towards individuals, institutions and governments and challenging to status quo power systems to figure out ways to broker their ways to hold onto power.

It certainly seems like Bitcoin was a bit of a gift for our planet in that it does seem to act as a store of value over time opposite to fiat currency.

Yeah but poor as a means of payment as of late.
Hopefully this scalability issue will be worked on in coming years
Can't even make any small transaction with transaction fee this high.
Bought some units of satoshi during this minor pullback(around 41400)
But have been unable to transfer to my wallet due to the trx fee.
I don't trust my holding in Binance since i can easily convert my BTC to my local currency to squander
Thus cheating on hodling.
Sigh ordinals are getting too comfortable in our land.

Personally, I think that is way better to hold some of your value on exchanges, and not be creating a bunch of UTXOs that are less than $500, so maybe consider transferring after you have at least $500 to $1k, and yeah, maybe it sucks that you are holding too much value (and your own savings/investments) with third parties, but many folks who are already poor and are doing smaller level transactions, they need to be careful not to get eaten up by transaction fees, which maybe sometimes it might be inevitable to have to pay higher amounts (or high percentage of the total transaction amount), but we also might have more and  more possibilities through lightning channels, too (and perhaps some other future technologies).  The choice is yours in regards to the various trade-offs... and yeah, if you are ONLY buying $10 per month, it could take you several years to reach $500 accumulated, and if you are buying $10 per week, then maybe you are a bit better off to be able to get to $500 after about a year, and maybe even with those low amounts, there might be some options that develop in the future, but you still should try to not be dissuaded from BTC, yet at the same time, you still might need to figure out the better ways that you can make investing into BTC more economical for yourself, especially if your regular purchases are lower than $500.

[ChartBuddy]

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[ChartBuddy]

Explanation
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