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

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[BitcoinBunny]

Got tons of stuff to do, repair and service of my milling machine almost complete, new astrocamera love despite cloudy skies, kid got sick.
Business as usual  

Are you in the machining industry? I work with it! It's great to see people here who are in this field of activity.

Some time ago I made a fully personalized bitcoin with my nickname in aluminum measuring 130mm in diameter, it looked beautiful, I made it on a CNC machining center

Well, i'm not in the machining industry, but i was trained to work with industry grade machinery like lathes and milling machines when i visited a tech school (comparable to College in terms of USA). In the meantime more than 30 years passed by, but i kept all the basics.

I manufactured hand made finger rings made of exotic hardwood and imo the best way to get ring blanks out of dense wood for wood turning was a CNC milling machine. It's a converted engraving machine, suitable for llimited space and equipped with powerful step motors. It would work with metals too, but the cooling using fluid would be too messy. I restricted myself to mostly automatic work, because i developed neurodermitis at the fingertips because of exposition to the fine dusts and tons of hours of wet sanding. Maybe i make 2-3 rings a year for giving away as presents. Sanding with Nitril gloves is an option, but they tend to tear and the tiniest of a wrinkle makes it hard to "feel" what is going on, and they're too sticky as well.

Would you fight Mike Tyson for 10 whole #bitcoin?

Ary you kidding?!
10 Bitcoin can't buy you a new ear, or can they?
 

EDIT: AND WHEN YOU THOUGHT YOU'VE SEEN IT ALL...
Yesterday somebody stole our hay from the haybarn when we were away.
They only left as much for the horses to be fed another day. 
Fucking sickos! 

I was thinking about security cameras before, but now i'm already shopping online while writing this.

Those bastards.

Too bad you can't train one of your horses on how to use a shotgun.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Gachapin]

Are prices falling like this due to recent US inflation data? because if so... I will never be able to understand how all this works based on the macro market...

What seems to happen is: the inflation data was released and psychopathic traders around the world started selling everything automatically? this seems so strange to me... what kind of investors do this? 

that's how it works? Can someone more experienced explain?

Don’t buy BTC for a quick overnight buck
Don’t buy BTC when not able to stomach a minor dip (10%ish) and a 85% down bear market
Don’t buy BTC when only $ is in your mind…

ftfy

[Gachapin]

Saylor’s $500,000,000 offering closes today. We should see another smash buy sometime in the next couple of days that sends BTC to another peak. That would probably make a good short term selling opportunity for traders, but the big boom is still ahead of us. I think by Halloween we should be sitting above $100,000, but I wouldn’t be surprised if we revisited $50K first.

I know that Saylor has been a good advocate for Bitcoin in recent years. But is he really better than Rojer Ver, and others  like him? Of course, he is way too smart to fall into the trap of creating his own shitcoin and losing money trying to pump it. Instead, he is riding on the wave of Bitcoin by creating some kind of a ponzi. Below are some tweets from a long thread, describing in detail what is going on.

Michael Saylor is pumping Bitcoin on the media every single day & selling convertible notes to buy more $BTC. So why is he then selling 5000 shares of his $MSTR stock everyday for a cumulative $195m of stock sold YTD? This is almost a $1bn annual run rate fwiw. In September 2023 Saylor filed a 105b1 plan to regulary sell his shares. As you can see on the chart in the last thread he is selling at very regular intervals. So why is he issuing convertibles to buy more Bitcoin and simulataneously pushing up the price which then pushes up his stock price? Namely, because MSTR equity trades at an insane premium to its underlying Software business + BTC After-Tax holdings of 120%.  So this implies that for MSTR to trade at NO PREMIUM to its BTC holdings at $68k price the price of BTC would need to be $157,000 - 130% higher than last price I checked this morning. This has true blue ponzi / reflexive / flywheel dynamics in that Saylor issues converts to buy Bitcoin, drives up the price of Bitcoin, which drives up his equity value, then he sells his own stock, and then does it again. Guy has down two converts for $1.4bn in the last two weeks. Tbh, he should just keep doing them as long as the market will bear it. Just be weary when the arbitrage breaks down, as it always does. Then we could see some real unwinds. Probably need to look at the options market for clues as to when the protections will unwind.

https://twitter.com/BenBrey/status/1769737363280822381

So many coins accumulated in one place is always a risk. If his strategy blows up we have (temporary) a problem.

With regard to his motivation.. maybe he is selling his overvalued shares to buy BTC.  Wouldn't be shocked seeing his conviction towards Bitcoin.

The halving draws near,
With Bitcoin's price on the rise,
Moon-bound, stars align.

There. Now it's a haiku. 

nice work!

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[bitebits]

Saylor’s $500,000,000 offering closes today. We should see another smash buy sometime in the next couple of days that sends BTC to another peak. That would probably make a good short term selling opportunity for traders, but the big boom is still ahead of us. I think by Halloween we should be sitting above $100,000, but I wouldn’t be surprised if we revisited $50K first.

I know that Saylor has been a good advocate for Bitcoin in recent years. But is he really better than Rojer Ver, and others  like him? Of course, he is way too smart to fall into the trap of creating his own shitcoin and losing money trying to pump it. Instead, he is riding on the wave of Bitcoin by creating some kind of a ponzi. Below are some tweets from a long thread, describing in detail what is going on.

Michael Saylor is pumping Bitcoin on the media every single day & selling convertible notes to buy more $BTC. So why is he then selling 5000 shares of his $MSTR stock everyday for a cumulative $195m of stock sold YTD?
[...]
https://twitter.com/BenBrey/status/1769737363280822381

The guy you are quoting is an idiot. Saylor is selling MSTR options that he got 10 years ago that will otherwise expire. 5000 shares per day in Q1. Saylor has been fully transparent about this in their Q4 financial results. He buys bitcoin privately with the proceeds.

[Paashaas]

Barry fcking Shillbert continues selling thousands of coins every day.

$20 billion+  Bitcoin bag ready to be dumped.

Going back to hibernation for a loooong time just to skip coming soul crushing bloodbath.

[El duderino_]

Good to see I guess
ETF’s not changing narratives
Dips will still be there

[El duderino_]

Barry fcking Shillbert continues selling thousands of coins every day.

$20 billion+  Bitcoin bag ready to be dumped.

Going back to hibernation for a loooong time just to skip coming soul crushing bloodbath.

Don’t stay in to long… you might miss some looming ATH’s

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[dragonvslinux]

Barry fcking Shillbert continues selling thousands of coins every day.

$20 billion+  Bitcoin bag ready to be dumped.

Going back to hibernation for a loooong time just to skip coming soul crushing bloodbath.

Isn't it $40b? It shouldn't take that long I don't think, maybe another month or two? Especially if the selling continues to increase.

Can someone remind me how much Bitcoin GBTC had to begin with, how much they've sold already? Want to calculate what the timeframe is looking like.

Ironically without GBTC outflows, there basically are no outflows, even if lower inflows at present, which speaks volumes...

The sooner that GBTC is flushed out the market the better.

[cygan]

it is now accomplished!
Michael Saylor now holds more than 1% of the total supply of BTCitcoin
another 9245 BTC were bought today - making a total of 214246 BTC
https://twitter.com/saylor/status/1770061111146033385

[BitcoinBunny]

Saylor, Black Crock, Grayscale, ETFs, NFTs, Eth, Solana, Binance with its own coin, coin burning, stable coins, Dog wiv hat, staking, shite this, shite that.

Countless distractions....

 

EFTs may give some people peace of mind but so far every time we have seen "not your keys but we will keep you coin and promise to be good" end in complete disaster, I'm not sure I would recommend them.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[aesma]

Saylor, Black Crock, Grayscale, ETFs, NFTs, Eth, Solana, Binance with its own coin, coin burning, stable coins, Dog wiv hat, staking, shite this, shite that.

Countless distractions....

 

EFTs may give some people peace of mind but so far every time we have seen "not your keys but we will keep you coin and promise to be good" end in complete disaster, I'm not sure I would recommend them.

Since the ETFs are backed by large, rich companies, shouldn't they be able to guarantee the funds anyway ?

I'm not invested personally but just wondering.

[criptoevangelista]

Well, i'm not in the machining industry, but i was trained to work with industry grade machinery like lathes and milling machines when i visited a tech school (comparable to College in terms of USA). In the meantime more than 30 years passed by, but i kept all the basics.

I manufactured hand made finger rings made of exotic hardwood and imo the best way to get ring blanks out of dense wood for wood turning was a CNC milling machine. It's a converted engraving machine, suitable for llimited space and equipped with powerful step motors. It would work with metals too, but the cooling using fluid would be too messy. I restricted myself to mostly automatic work, because i developed neurodermitis at the fingertips because of exposition to the fine dusts and tons of hours of wet sanding. Maybe i make 2-3 rings a year for giving away as presents. Sanding with Nitril gloves is an option, but they tend to tear and the tiniest of a wrinkle makes it hard to "feel" what is going on, and they're too sticky as well.

I've been doing this for almost 20 years. Sometimes I get lesions on my skin because of the soluble cutting oil, I've gotten used to it.

his is my physical bitcoin:

https://bitcointalk.org/index.php?topic=5474660.0

[criptoevangelista]

it is now accomplished!
Michael Saylor now holds more than 1% of the total supply of BTCitcoin
another 9245 BTC were bought today - making a total of 214246 BTC
https://twitter.com/saylor/status/1770061111146033385

It reached a really expressive number. Saylor is our bitcoiner hero.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Gachapin]

we might need to retest 50k one last time before (hopefully) never coming back