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

[LoyceV]

That's 10 billion dollars leaving the Bitcoin ecosystem each year.

Why?
Miners are rewarded inside the Bitcoin ecosystems. They are paid in Bitcoins. Those bitcoins stay in the ecosystem. Nothing is leaving.

Miners sell Bitcoin to buy hardware and electricity. That money leaves the Bitcoin ecosystem, and requires an equal inflow of dollars (or local currency) to make up for it.

[Paashaas]

B..but german goverment isn't done selling and Gox coins hasn't moved yet..


X

[fillippone]

That's 10 billion dollars leaving the Bitcoin ecosystem each year.

Why?
Miners are rewarded inside the Bitcoin ecosystems. They are paid in Bitcoins. Those bitcoins stay in the ecosystem. Nothing is leaving.

Miners sell Bitcoin to buy hardware and electricity. That money leaves the Bitcoin ecosystem, and requires an equal inflow of dollars (or local currency) to make up for it.

Exchanges sell dollars to buy bitcoin.
Or mining hardware producers sell ASICS to buy bitcoin.
I personally sell my services to buy bitcoin.

That money doesn’t exit the system.

[BlackHatCoiner]

Miners sell Bitcoin to buy hardware and electricity. That money leaves the Bitcoin ecosystem, and requires an equal inflow of dollars (or local currency) to make up for it.

Why is the money from miner sellers considered to be leaving the Bitcoin ecosystem, while the money from miner buyers is not regarded as equally entering the Bitcoin ecosystem?

[somac.]

B..but german goverment isn't done selling and Gox coins hasn't moved yet..


X

Yep, proving that the Gox coins and German selling are not the issue. This selling is something else, but of course the media loves its excuses for the market moves.

[fillippone]

Now sell your damn bitcoins and let us live peacefully.
If you are selling now your bit pins from MtGox you didn’t clearly deserved it in the first place.

Mt. Gox Begins Repayments in Bitcoin and Bitcoin Cash

The defunct crypto exchange announced last month that it will begin repayments in July

[El duderino_]

It’s annoying….

Good Germany and mt gox got a ton of all the altcoins as well to sell ….

[El duderino_]

https://x.com/whalepanda/status/1809080887952203794?s=46

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Zeunerts]

Quote from another thread,

Today it was even worse: the trading volume was over 50 billion, and the Bitcoin price has lowered, so even if we take 57000 $ as the average price  (I guess it is actually significantly lower, i.e. more coins were sold) and 30 billion as the "normal" trading volume, then today 400975 BTC were sold! This is almost three times the 140.000 Goxcoins, and more than 6x the coins which will probably be paid out (to individual creditors).

And that only because Gox moved some coins, it actually didn't pay out anything. Yes, there was a movement of German BKA coins too, and it's possible that they were sold, but that was much earlier than the "big dump".

(Actually I should write that in some Asian language because the main dump occurred during Asian trading hours.)

-> Today (05/07) more than 3x of the BTC were sold than MtGox will pay out in July - https://bitcointalk.org/index.php?topic=5500934.msg64291075#msg64291075

[shahzadafzal]

This is BULL SHIT…..

If you enjoy BULL run we should like BULL SHIT too.

[somac.]

Quote from another thread,

Today it was even worse: the trading volume was over 50 billion, and the Bitcoin price has lowered, so even if we take 57000 $ as the average price  (I guess it is actually significantly lower, i.e. more coins were sold) and 30 billion as the "normal" trading volume, then today 400975 BTC were sold! This is almost three times the 140.000 Goxcoins, and more than 6x the coins which will probably be paid out (to individual creditors).

And that only because Gox moved some coins, it actually didn't pay out anything. Yes, there was a movement of German BKA coins too, and it's possible that they were sold, but that was much earlier than the "big dump".

(Actually I should write that in some Asian language because the main dump occurred during Asian trading hours.)

-> Today (05/07) more than 3x of the BTC were sold than MtGox will pay out in July - https://bitcointalk.org/index.php?topic=5500934.msg64291075#msg64291075

There's only so many weak hands.

[BTCaesar]

The current Status of us:

https://x.com/absurtolaylar/status/1808791283365748749

[LoyceV]

Miners sell Bitcoin to buy hardware and electricity. That money leaves the Bitcoin ecosystem, and requires an equal inflow of dollars (or local currency) to make up for it.

Why is the money from miner sellers considered to be leaving the Bitcoin ecosystem, while the money from miner buyers is not regarded as equally entering the Bitcoin ecosystem?

Tough questions, I like it
The money from buyers enters the Bitcoin ecosystem. But that can be taken out again, while the money spent by miners on hardware and electricity can't come back in.

Now sell your damn bitcoins and let us live peacefully.
If you are selling now your bit pins from MtGox you didn’t clearly deserved it in the first place.

This has been going on for how long? Ten years of "selling pressure"? Just get it over with!

For the "X" link dumps: I'd appreciate it if you quote the post with the link. I'm not visiting that site

[BlackHatCoiner]

The money from buyers enters the Bitcoin ecosystem. But that can be taken out again, while the money spent by miners on hardware and electricity can't come back in.

If money spent on hardware and electricity is considered as leaving the Bitcoin ecosystem, then it would leave regardless of whether there were miner sellers or not. The only difference is which entity spends on hardware and electricity.

I would argue, however, that money spent on electricity and hardware is not only part of the Bitcoin ecosystem but its entire backbone.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Zeunerts]

There's only so many weak hands.

Its easy to forget. Its always more hands than you think. Stupid people.

This is BULL SHIT…..

If you enjoy BULL run we should like BULL SHIT too.

No. But after the BULL SHIT comes the supermegabearfuckingultragreen dildos - that's fun.
And people will complain once again, that they missed it. Every time.

[BitcoinBunny]

It's Supermegabearfuckingultragreendildos
Even though the sound of it is something quite atrocious
If you say it loud enough you'll always sound precocious
Supermegabearfuckingultragreendildos
Um-dittle-ittl-um-dittle-I
Um-dittle-ittl-um-dittle-I

[Zeunerts]

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com