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

[LFC_Bitcoin]

@saylor
In July, @MicroStrategy acquired an additional 169 BTC for $11.4 million and now holds 226,500 BTC. Please join us at 5pm ET as we discuss our Q2 2024 financial results, the outlook for $BTC, and our #Bitcoin development strategy. $MSTR

https://t.co/cfGPc42jfM
https://x.com/saylor/status/1819102944744161537

[aesma]

I wanted to buy a bit of corn at discount prices and remembered I had a stash of USDT at Bitfinex, except I can't trade anymore without verifying. Even though it's a small stash.

I also have corn stuck at Poloniex for the same reason.

I'm not into money laundering or financing terrorists but verifying is annoying, the tools have trouble scanning my passport, and then one day all this info is going to be shared with the taxman...

I will basically verify, withdraw, and close the accounts afterwards...

And try to find people willing to trade outside of exchanges.

[eXPHorizon]

I wanted to buy a bit of corn at discount prices and remembered I had a stash of USDT at Bitfinex, except I can't trade anymore without verifying. Even though it's a small stash.

I also have corn stuck at Poloniex for the same reason.

I'm not into money laundering or financing terrorists but verifying is annoying, the tools have trouble scanning my passport, and then one day all this info is going to be shared with the taxman...

I will basically verify, withdraw, and close the accounts afterwards...

And try to find people willing to trade outside of exchanges.

1st time maybe going through next time ima have someone ready to take those bljatcoins with a big black dildo 😆

[OgNasty]

Might want to start shorting Intel boys, shits starting to hit mainstream.

https://www.youtube.com/watch?v=H8LrwI-I_fY

Intel stock has already been beaten down to the point where it appears as a value. Not saying this news isn’t extremely disturbing, but with Intel’s cash flow and foundry investments, I would be wary of shorting them here. A year ago it would have been a great call. I’d question the risk reward of shorting while it’s down 30% now though.

Looks like that was a good call after all. I’m a bit shocked in the drop in value we’re seeing from Intel’s turnaround plan. This aftermarket action has to be the worst of it I would think. Firing nearly 20,000 employees and suspending the dividend is a pretty massive move and a lot of income funds are being forced to sell as a result. That makes me think this is likely a buying opportunity along the lines of what we saw recently with AT&T and MMM when they cut dividends and restructured, but the market is behaving as though bankruptcy is on the table so I could be underestimating the risk.

[Richy_T]

Perhaps it all makes sense in a way why the likes of CNN would support the latter. Trouble => Big sensationalist click bait bucks.

I think it's more about establishment vs outsider. The value of a network is proportional to the square of its components and all.

[xhomerx10]

Might want to start shorting Intel boys, shits starting to hit mainstream.

https://www.youtube.com/watch?v=H8LrwI-I_fY

Intel stock has already been beaten down to the point where it appears as a value. Not saying this news isn’t extremely disturbing, but with Intel’s cash flow and foundry investments, I would be wary of shorting them here. A year ago it would have been a great call. I’d question the risk reward of shorting while it’s down 30% now though.

Looks like that was a good call after all. I’m a bit shocked in the drop in value we’re seeing from Intel’s turnaround plan. This aftermarket action has to be the worst of it I would think. Firing nearly 20,000 employees and suspending the dividend is a pretty massive move and a lot of income funds are being forced to sell as a result. That makes me think this is likely a buying opportunity along the lines of what we saw recently with AT&T and MMM when they cut dividends and restructured, but the market is behaving as though bankruptcy is on the table so I could be underestimating the risk.

 It appears to be getting hammered in after-hours trading.

[Richy_T]

It doesn't seem a great reason to justify the current dump. These guys are being hunted and assassinated all the time. It's more like Bitcoin crashed and news' portals couldn't find any good reason to explain it, so they just used an event which just happened simultaneously to explain the bearish tendency.

Tucker Carlson claimed Bitcoin was a CIA project yesterday. Put what weight on that you like but any opportunity to beat the price down seems to be jumped on these days.

[Richy_T]

Can someone tell me where i can bet on the Male boxer boxing in the Female Category in Olympic games ? Asking 4 a friend ..

I heard odds are like 100-3 so if you like picking up crumbs...

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[modrobert]

It doesn't seem a great reason to justify the current dump. These guys are being hunted and assassinated all the time. It's more like Bitcoin crashed and news' portals couldn't find any good reason to explain it, so they just used an event which just happened simultaneously to explain the bearish tendency.

Tucker Carlson claimed Bitcoin was a CIA project yesterday. Put what weight on that you like but any opportunity to beat the price down seems to be jumped on these days.

CIA was definitely bullish on Bitcoin at one point according to Gavin:
https://bitcointalk.org/index.php?topic=6652.0

[Hueristic]

Might want to start shorting Intel boys, shits starting to hit mainstream.

https://www.youtube.com/watch?v=H8LrwI-I_fY

Intel stock has already been beaten down to the point where it appears as a value. Not saying this news isn’t extremely disturbing, but with Intel’s cash flow and foundry investments, I would be wary of shorting them here. A year ago it would have been a great call. I’d question the risk reward of shorting while it’s down 30% now though.

Looks like that was a good call after all. I’m a bit shocked in the drop in value we’re seeing from Intel’s turnaround plan. This aftermarket action has to be the worst of it I would think. Firing nearly 20,000 employees and suspending the dividend is a pretty massive move and a lot of income funds are being forced to sell as a result. That makes me think this is likely a buying opportunity along the lines of what we saw recently with AT&T and MMM when they cut dividends and restructured, but the market is behaving as though bankruptcy is on the table so I could be underestimating the risk.

Might want to start shorting Intel boys, shits starting to hit mainstream.

https://www.youtube.com/watch?v=H8LrwI-I_fY

Intel stock has already been beaten down to the point where it appears as a value. Not saying this news isn’t extremely disturbing, but with Intel’s cash flow and foundry investments, I would be wary of shorting them here. A year ago it would have been a great call. I’d question the risk reward of shorting while it’s down 30% now though.

I don't make stock calls often, actually only about 4 that I can remember but I'm batting 1000%.

Buy Tesla on IPO
Buy Ford when it dropped below 1 dollar and they refused the Gov bailout
Buy Amd when it went below 1 dollar
Short Intel July 15th.

It takes a man to admit when they were wrong, have a merit.

[Biodom]

I don't make stock calls often, actually only about 4 that I can remember but I'm batting 1000%.

Buy Tesla on IPO
Buy Ford when it dropped below 1 dollar and they refused the Gov bailout
Buy Amd when it went below 1 dollar
Short Intel July 15th.

It takes a man to admit when they were wrong, have a merit.

Wow, that's better than 99% of investors, for sure.
Compare it with my stats:

Bought TSLA after it declined after the IPO, sold few mo later...decided that the story would take too long to fruition...duh!
Bought AAPL in 1997, sold it in 2000 after making 10X
Never bought NVDA
Biggest wins apart from bitcoin were in small biotechs (3x, 5X, even 10X)

Bought bitcoin, though, and still holding...
Perhaps, you don't need many mega-wins and just ONE could be sufficient..at least this is my hope.

[philipma1957]

I traded orders with a guy killed in the Beirut barracks.

It took too long to get this piece of shit.




Its weird how such little things like trading orders can be the difference between life and death.

That goes back a long time. 1980s

There were 2 bombings as I recall.

83, that's the only one i remember.

Just looked it up and apparently there was a senate bombing as well.

Were you a Marine?  I was USN 1978-1982.

 I spent a lot of time aiding the Iran blockade done by Carter over the hostage crisis.

I was in for this bombing

https://en.wikipedia.org/wiki/1982_French_embassy_bombing_in_Beirut


but out when this one happened

https://en.wikipedia.org/wiki/1983_Beirut_barracks_bombings.


I mostly spent time here

https://en.wikipedia.org/wiki/Diego_Garcia


repairing the destroyers blockading Iran while serving on this ship

https://en.wikipedia.org/wiki/USS_Dixie_(AD-14)

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[OgNasty]

Check out this interview of VanEck’s CEO talking about Bitcoin being worth $350K on the way to 2.9 million dollars per BTC… Could those be the tops in 2025 and 2029? It seems like that’s the picture that is being painted and the big boys are buying into. BTC being worth millions in 5 years is certainly an exciting prospect. It would be a difficult hodl.

https://x.com/bitcoinmagazine/status/1819118012059804080

[Biodom]

-2K, +3K- intraday moves...what was that?

market pundits: -2K...international tensions..+3K-prisoner exchange, portending even better news down the road? (it surely wasn't AAPL beat as it is up only a $1 and AMZN dropped $12 after hours).

[JayJuanGee]

Just roll the scroll-wheel.

yeah.. about that..

A clear case of JJG right there.

Protip: Some of you guys just need to up your mousie game (also known as baby ratt).  

Protip for the ones scrolling a lot: Trackballs.

EDIT: And if you're also pointing and klicking tons of times, use them left handed for scrolling . or right handed if you're a left-hander.
You can also map your mouse scrollwheel to something else than scrolling windows.

hahahahaha

I find it a wee bit funny that you are quoting the "protip" portion of my post, especially for the last couple of years, I have never meant to use the term "protip" in a completely literal way.. ..

I consider the use of "protip" to be a bit of a purposeful exaggeration..

I think that I heard "Joe Rogan," say something like that in one of his podcasts, and thereafter, I had continued to consider the use of "protip" as a kind of fun comment, rather a serious or a literal one.

In the case of the USA, I don't really understand it.

It’s the same as Germany. They have rules and processes setup to deal with confiscated assets. They can’t just decide to keep something if it may go up in value. I imagine it would easier to auction the BTC no matter what and try to pass a bill to begin buying BTC then it would be to just move the confiscated BTC into a reserve fund. Especially when you consider that a lot of that BTC was stolen from actual victims who probably want to fight to get it back (see: Razzlekhan).

Ok didn't know that. And after all we wouldn't know if they have accumulating BTC for a long time. If the US government knows that countries like Russia and Iran and North Korea get into BTC big time, it is hard to imagine that they would not acquire a decent amount of coins over time for themselves without letting the public know. Would they have to let the public know in theory?

Of course if the victims are known or could be identified at some point in the future, then you are perfectly right that they can't just keep those coins for themselves. But my guess would be that that a good amount of those confiscated BTC come from drug dealers. What would the correct legal way then be when someone sold drugs for $10,000 in BTC, gets caught, and in the meantime those BTC increase in total to $100,000 until the case has been settled? Put aside the fact that someone might have to go to jail, but would the drug seller have the right to at least get back some of the value (after paying a penalty)?

For sure, I am also concerned about due process and the obligations of any governments that seize bitcoin, and for sure property and due process rights and even criminal laws are going to vary from country to country.. whether we are referring to a national government that might engage in such prosecution or sometimes it may well be a local government that had engaged in the seizure.. including in the USA property rights tend to be defined by state law.. even though the categories of what laws apply to whom and who's property we are determining (including governmental overreach) can also sometimes become factors.

[Hueristic]

Were you a Marine? 

Semper Fi

[OgNasty]

In the case of the USA, I don't really understand it.

It’s the same as Germany. They have rules and processes setup to deal with confiscated assets. They can’t just decide to keep something if it may go up in value. I imagine it would easier to auction the BTC no matter what and try to pass a bill to begin buying BTC then it would be to just move the confiscated BTC into a reserve fund. Especially when you consider that a lot of that BTC was stolen from actual victims who probably want to fight to get it back (see: Razzlekhan).

Ok didn't know that. And after all we wouldn't know if they have accumulating BTC for a long time. If the US government knows that countries like Russia and Iran and North Korea get into BTC big time, it is hard to imagine that they would not acquire a decent amount of coins over time for themselves without letting the public know. Would they have to let the public know in theory?

Of course if the victims are known or could be identified at some point in the future, then you are perfectly right that they can't just keep those coins for themselves. But my guess would be that that a good amount of those confiscated BTC come from drug dealers. What would the correct legal way then be when someone sold drugs for $10,000 in BTC, gets caught, and in the meantime those BTC increase in total to $100,000 until the case has been settled? Put aside the fact that someone might have to go to jail, but would the drug seller have the right to at least get back some of the value (after paying a penalty)?

For sure, I am also concerned about due process and the obligations of any governments that seize bitcoin, and for sure property and due process rights and even criminal laws are going to vary from country to country.. whether we are referring to a national government that might engage in such prosecution or sometimes it may well be a local government that had engaged in the seizure.. including in the USA property rights tend to be defined by state law.. even though the categories of what laws apply to whom and who's property we are determining (including governmental overreach) can also sometimes become factors.

The right way is definitely to auction it as they would any other seized property or return it to victims. The government should start their stack fresh with no potential claims against it. I saw a bill was just introduced to buy 1,000,000 BTC for the government. Let’s pretend for a second that the government could buy that much BTC and the market could absorb it like a traditional stock market. Using current pricing and expected investment to market cap multiples (x40), that alone would push the price of BTC to $190K. More realistically though, it would moon the price due to lack of supply and additional demand. I don’t think $300K+ is out of the question for next year and this could be the way.

[eXPHorizon]

https://youtu.be/kFxGAnX6A80?feature=shared