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

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Richy_T]

Guys, we got passed EmptyGox without barely an abrasion. It has been hanging over the market for 10+ years and I have lost count how many times some Gox FUD has hammered the price down during the decade. That page has turned now, forever. Hugely bullish.

LOL. You “gox didn’t matter” people are so delusional. The price went from $73K to $49K during the most bullish inflow period in Bitcoin’s history in expectation of the event and now we’re still 20% off the high as the market tries to work through what is happening and those who stepped up to save the market at $49K are able to liquidate and take profit. If it wasn’t for gox we’d be 50% higher right now and when they’re done with the distributions we’re going to take off. No point in pretending the market shrugged it off.

That's credibility damaging levels of disingenuous given that you know that fall happened in tandem with the biggest stock market sell-off in not-even-very-recent history with a very rapid recovery.

[Richy_T]

OT, not worth posting, really, but here goes. Just got served a "Sovereign Citizen" (a.k.a. "SovCit") video on YouTube, probably due to my recent binge on true crime videos. If you don't already know them (I didn't), SovCits are people who choose to apply their own, pseudo-legal interpretation of the law, typically rejecting Social Security numbers, driver's licenses and vehicle registrations, leading to some hilarious footage when stopped by police for traffic violations.

While I generally have some sympathies with their stance, I find it generally good advice to tend to comply with those who have a lot more guns than you.

Basically this:

“I am free, no matter what rules surround me. If I find them tolerable, I tolerate them; if I find them too obnoxious, I break them. I am free because I know that I alone am morally responsible for everything I do.”
― Robert A. Heinlein

[AlcoHoDL]

OT, not worth posting, really, but here goes. Just got served a "Sovereign Citizen" (a.k.a. "SovCit") video on YouTube, probably due to my recent binge on true crime videos. If you don't already know them (I didn't), SovCits are people who choose to apply their own, pseudo-legal interpretation of the law, typically rejecting Social Security numbers, driver's licenses and vehicle registrations, leading to some hilarious footage when stopped by police for traffic violations.

While I generally have some sympathies with their stance, I find it generally good advice to tend to comply with those who have a lot more guns than you.

Basically this:

“I am free, no matter what rules surround me. If I find them tolerable, I tolerate them; if I find them too obnoxious, I break them. I am free because I know that I alone am morally responsible for everything I do.”
― Robert A. Heinlein

I agree. The thing is, of all the encounters I watched today, the SovCits were asking for it. I mean, they were driving dangerously, with fake number plates, no papers, and refusing to even identify themselves or get out of their cars. They shoot themselves in the foot by behaving like this. All the officers were very polite and reasonable (and VERY patient).

Adding to your quote above, my stance on this is "when in Rome, do as Romans do," and if you disagree, either try to change the system legally (by example, or by political means), or become a revolutionary (and be prepared to face the consequences -- big guns and all).

[Biodom]

Fresh from A. Hayes:

https://cryptohayes.medium.com/water-water-every-where-faf76ba24b44

TL;DR a bit complicated for me to fully understand, but here is a conclusion:

I would rather watch the chaos from the sidelines and step back into the markets AFTER the US debt ceiling is raised. I expect that to happen sometime in January or February.

Once the US debt ceiling charade is over, liquidity will gush from the Treasury and possibly the Fed to get markets back on track. Then, the bull market will begin for realz. $1 million Bitcoin is still my base case [emphasis mine].

P.S.: <snip-unnecessary name calling>..The 2025 Sino-American crypto bull market shall be glorious.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[OgNasty]

Guys, we got passed EmptyGox without barely an abrasion. It has been hanging over the market for 10+ years and I have lost count how many times some Gox FUD has hammered the price down during the decade. That page has turned now, forever. Hugely bullish.

LOL. You “gox didn’t matter” people are so delusional. The price went from $73K to $49K during the most bullish inflow period in Bitcoin’s history in expectation of the event and now we’re still 20% off the high as the market tries to work through what is happening and those who stepped up to save the market at $49K are able to liquidate and take profit. If it wasn’t for gox we’d be 50% higher right now and when they’re done with the distributions we’re going to take off. No point in pretending the market shrugged it off.

That's credibility damaging levels of disingenuous given that you know that fall happened in tandem with the biggest stock market sell-off in not-even-very-recent history with a very rapid recovery.

What? Now the cope has turned into Bitcoin following the stock market? Is it just that you don’t want to admit you’re wrong or do you really misunderstand the Bitcoin market so much that you think what just happened was due to the stock market? I guess your post answers that question, but you couldn’t possibly be more wrong with your analysis, whether you acknowledge it or not.

[Jewan420]

[Richy_T]

Adding to your quote above, my stance on this is "when in Rome, do as Romans do," and if you disagree, either try to change the system legally (by example, or by political means), or become a revolutionary (and be prepared to face the consequences -- big guns and all).

A sensible stance. But the sovereign citizens don't recognize the authority that would need to be changed. To participate in the system is to validate the system. Arguably they are already revolutionaries but of a very milquetoast sort.

[Edit: Fake number plates? If they were serious, they would be going with *no* number plates. Not even internally consistent]

[Richy_T]

What? Now the cope has turned into Bitcoin following the stock market? Is it just that you don’t want to admit you’re wrong or do you really misunderstand the Bitcoin market so much that you think what just happened was due to the stock market? I guess your post answers that question, but you couldn’t possibly be more wrong with your analysis, whether you acknowledge it or not.

Just a coincidence I'm sure. And technically, it would have lead the stock market as the stock market was closed on the weekend.

[OgNasty]

What? Now the cope has turned into Bitcoin following the stock market? Is it just that you don’t want to admit you’re wrong or do you really misunderstand the Bitcoin market so much that you think what just happened was due to the stock market? I guess your post answers that question, but you couldn’t possibly be more wrong with your analysis, whether you acknowledge it or not.

Just a coincidence I'm sure. And technically, it would have lead the stock market as the stock market was closed on the weekend.

Exactly. The stock market drop was mostly related to 2 things. 1) Iran saying they were going to attack Israel, & 2) The media pushing the idea that Kamala was winning in the polls.

The Bitcoin drop was also due to 2 separate factors. 1) The news that mtgox would be distributing BTC to creditors, & 2) Germany dumping their coins.

While my Bitcoin is down around 20% from the peak, my stock portfolio is at all time highs. Ridiculous to say Bitcoin follows the stock market.

and maybe you sold your gox coins. i didnt.

The coins I got from mtgox haven’t been touched. I sold before the drop ($67K) and bought the dip ($53K)…

[ivomm]

Guys, we got passed EmptyGox without barely an abrasion. It has been hanging over the market for 10+ years and I have lost count how many times some Gox FUD has hammered the price down during the decade. That page has turned now, forever. Hugely bullish.

LOL. You “gox didn’t matter” people are so delusional. The price went from $73K to $49K during the most bullish inflow period in Bitcoin’s history in expectation of the event and now we’re still 20% off the high as the market tries to work through what is happening and those who stepped up to save the market at $49K are able to liquidate and take profit. If it wasn’t for gox we’d be 50% higher right now and when they’re done with the distributions we’re going to take off. No point in pretending the market shrugged it off.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Torque]

15 years since inception, and I can't believe that trader shill trolls still feel the need to come into this WO thread and spread whatever the latest FUD du jour happens to be.

But then again, I guess I can believe it.

Because without constant FUD ad infinitum, I guess that would mean that Bitcoin is a legit financial asset and cannot function like a simple penny stock pump-and-dump anymore?

Ah yes, the constant dangling carrot of FUD....like the Sword of Damocles....      

[El duderino_]

Guys, we got passed EmptyGox without barely an abrasion. It has been hanging over the market for 10+ years and I have lost count how many times some Gox FUD has hammered the price down during the decade. That page has turned now, forever. Hugely bullish.

LOL. You “gox didn’t matter” people are so delusional. The price went from $73K to $49K during the most bullish inflow period in Bitcoin’s history in expectation of the event and now we’re still 20% off the high as the market tries to work through what is happening and those who stepped up to save the market at $49K are able to liquidate and take profit. If it wasn’t for gox we’d be 50% higher right now and when they’re done with the distributions we’re going to take off. No point in pretending the market shrugged it off.

LOL back at you.
You can continue to cling to your delusion or you can look at the facts: first it was Germany 2 bil sale on a short notice and in a very short time period and then Japan's sudden rate hike dislocating ALL markets due to the yen carry trade partial unwinding. MtGox was largely a non factor aka priced in.

LOL @ME

For sitting with popcorn
And just reading the WO

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[bitcoinPsycho]

Obviously bitcoin we know is the real number one but this is surprising to me nevertheless

https://wise.com/gb/blog/strongest-currencies-in-the-world

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Ambatman]

Obviously bitcoin we know is the real number one but this is surprising to me nevertheless

https://wise.com/gb/blog/strongest-currencies-in-the-world

These are depreciating assets relative strengths.
Well aware of Kuwaiti jinar but the others came as quite a shocker
Never knew most existed.



Stumbled on this.
Mining company stamps "Made in USA " on their Block's mined.

https://cointelegraph.com/news/marathon-digital-made-in-usa-bitcoin-blocks

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com