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

[Ambatman]

Seems Uptober has been put on hold for now. The US Government has been given approval by courts to sell 69,000BTC that was confiscated from Silk Road over a decade ago.

I can’t help but feel suspicious that every time we look close to break out, something like this happens. 69,000BTC will be absorbed by the market, no doubt. Very suspicious timing though, this is where my inventive mind comes into play. Revenge and pettiness by Democrats with one last **** you to crypto friendly Republicans? I mean why rush through selling 69,000BTC when it’s likely they might not even be in power in 4 weeks time.

Or is this on orders from the likes of Blackrock, because the are running out of OTC sellers and this is the only way to satisfy demand, whilst keeping prices down at the same time?

Regardless, resistance is futile, the inevitable can only be delayed short term, $200,000+ per coin by end of 2025.

We survived Mt GOX, we can survive this
I doubt they would hold on to the Bitcoin after election
So the auction would be taking place any time before the election.
Recall Trump if I ain't mistaken wants to turn seized Bitcoin to a strategic reserve.
The democrats wouldn't want such decision to fall on the republican.

Well this ain't their first auction, but it's quite annoying seeing things just coming up in delaying an inevitable take off.
I think there would be some freedom and balance after the election.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Maslate]

Is the money to be credited in bitcoin?

No, it’s going to be in fiat because the $16 Bilion recovered was a mix of fiat, crypto, and real properties. The judge decided to settle everything in fiat, based on the value at the time they declared bankruptcy.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[philipma1957]

Is the money to be credited in bitcoin?

No, it’s going to be in fiat because the $16 Bilion recovered was a mix of fiat, crypto, and real properties. The judge decided to settle everything in fiat, based on the value at the time they declared bankruptcy.

So have they converted all coins to cash?

[Maslate]

Is the money to be credited in bitcoin?

No, it’s going to be in fiat because the $16 Bilion recovered was a mix of fiat, crypto, and real properties. The judge decided to settle everything in fiat, based on the value at the time they declared bankruptcy.

So have they converted all coins to cash?

It’s most likely because the court ordered payments to be made in fiat. This is key for accounting, as it locks in a fixed value. According to reports, the estimated total payout to users is about $12 billion, meaning the recovered amount was more than enough to cover everyone.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[d_eddie]

Hey buddy what's wrong with you?

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Lucius]

Is the money to be credited in bitcoin?

No, it’s going to be in fiat because the $16 Bilion recovered was a mix of fiat, crypto, and real properties. The judge decided to settle everything in fiat, based on the value at the time they declared bankruptcy.

So have they converted all coins to cash?

Or they are waiting for the bull run to do it - because why not wait and get the most out of everything when they obviously don't have a deadline by which they have to start making payments. At the end of the day, all those who are impatient should not worry too much about waiting another month, because if this had happened in Japan, they would certainly not have received anything in this decade.

In addition, Bankman enjoys good company in his new accommodation - and that is probably the greatest satisfaction for everyone

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Jewan420]

It’s most likely because the court ordered payments to be made in fiat. This is key for accounting, as it locks in a fixed value. According to reports, the estimated total payout to users is about $12 billion, meaning the recovered amount was more than enough to cover everyone.

Even if the +18% of lost asset value doesn't satisfy them, they have to be happy with it. Maybe with this money you will be able to make your fund bigger.

Reports show that 98% of customers will get 119% of what they lost. It is possible that if they pay everyone using digital assets the money might not be enough to pay everyone. It is good news for everyone to at least get back the dollar equivalent. People should be pleased that they are getting it because most people have lost funds in bankrupt centralized exchanges.

So that's pretty low compared to the current price....
And as to the usd value refund., they'll get +18% of the value of their coins that time...

[Jewan420]

Deleted. (sorry for misclick)

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Ambatman]

Vitalink proposed to be nominated for the economist Nobel Prize award

https://www.mercatus.org/marginal-revolution-podcast/economics-nobel-predictions-2024-missed-opportunities

COWEN: Vitalik built a platform, created a currency, you could say, refuted Mises’ regression theorem in the process, obviously following in the footsteps of Satoshi, but my goodness, what does someone have to do to get a Nobel Prize

Funny how one of them stated he's following in the footsteps of satoshi

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[LFC_Bitcoin]

Or they are waiting for the bull run to do it - because why not wait and get the most out of everything when they obviously don't have a deadline by which they have to start making payments. At the end of the day, all those who are impatient should not worry too much about waiting another month, because if this had happened in Japan, they would certainly not have received anything in this decade.

In addition, Bankman enjoys good company in his new accommodation - and that is probably the greatest satisfaction for everyone

Code:

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Speaking about Japan and SBF’s living arrangements, I bet his arse regularly looks like a Japanese flag.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[OgNasty]

Vitalink proposed to be nominated for the economist Nobel Prize award

https://www.mercatus.org/marginal-revolution-podcast/economics-nobel-predictions-2024-missed-opportunities

COWEN: Vitalik built a platform, created a currency, you could say, refuted Mises’ regression theorem in the process, obviously following in the footsteps of Satoshi, but my goodness, what does someone have to do to get a Nobel Prize

Funny how one of them stated he's following in the footsteps of satoshi

That would be crazy if Vitalik ended up winning a Nobel prize because he was trying to figure out and build a way to preserve World of Warcraft game items from overzealous game developers. Not exactly following in satoshi’s footsteps and it is a travesty that with all the money he made he never followed through to build a game that he envisioned.