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

[Hueristic]

I got my 12 inch by 12 inch by 1/8 inch titanium plate today.

Grade CP-1

Looks like a starter kit.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[welovebit]

I got my 12 inch by 12 inch by 1/8 inch titanium plate today.

Grade CP-1

What will you do with it?

He is mining maybe this is going to help him in this.

After many days again here because another good accumulation on December 1 good decline give good chance for grabbing more.

[BTCETFInvestor]

I got my 12 inch by 12 inch by 1/8 inch titanium plate today.

Grade CP-1

What will you do with it?

He is mining maybe this is going to help him in this.

I'm guessing the titanium plate will be used to engrave or stamp Bitcoin wallet recovery seed phrases into the titanium for fireproof/waterproof and tamper-resistant backup. Yes/No?  If so, where does he put/store the plate?

[philipma1957]

well I could stamp the plate with a 12 word seed

but I was just 1 upping bob and his steel plates you will need to ask him why steel plates are important.

[BTCETFInvestor]

Over $93B in 24h volume with the price finally moving up nicely - even though its slight but steady.

[welovebit]

I got my 12 inch by 12 inch by 1/8 inch titanium plate today.

Grade CP-1

What will you do with it?

He is mining maybe this is going to help him in this.

I'm guessing the titanium plate will be used to engrave or stamp Bitcoin wallet recovery seed phrases into the titanium for fireproof/waterproof and tamper-resistant backup. Yes/No?  If so, where does he put/store the plate?

Today I learn new thing about wallet safety because I never thought about this before having this post.

[OgNasty]

Well, I didn’t think we would see the largest Bitcoin treasury company in the world announce a strategic US dollar reserve after spending years talking about the dollar being a destroyer of value. In his defense though, Saylor said he would be buying the top forever. He never said anything about buying the bottom…

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[JayJuanGee]

Sad to say this but I am of the thinking this bull run is over. I have to be frank, I was expecting a much more powerful surge. I made some bad decisions many years ago & sold all my Bitcoin far too early. Some of you may remember me being an asshole a bit in this very thread. It was because I am still mad at my moronic actions. I accepted it & am now back to over 1 full Bitcoin. It’s not a lot but if we do enter a bear market that lasts a couple of years I am hopeful that I can hit 2 or more full coins by the next big bull. I might sell some then but I couldn’t this year. It just didn't go high enough to make it worth it. We will be back, $1M per coin in the next 20 years with any luck.

I am sure that many of us remember you and your earlier trolling and cocky attitude.  For your own good, you are lucky to have had come around to bitcoin, even though you still don’t seem to understand it very well since you are talking about it as a trade rather than a life long holdings.

Sure. It’s possible to figure out some profitable and potentially lucky trades to put you in a better situation, yet if you were to be able to figure out some kind of a way to play a longer game then you would probably come out into a better situation by figuring out a way to try to play a longer game.

[Hottiek]

I got my 12 inch by 12 inch by 1/8 inch titanium plate today.

Grade CP-1

But... But... But what do you do with the extra 10 inches? Oh wait, I see who I was quoting... Do they really drop that much in your old age where you need the full 12???
K

[philipma1957]

I got my 12 inch by 12 inch by 1/8 inch titanium plate today.

Grade CP-1

But... But... But what do you do with the extra 10 inches? Oh wait, I see who I was quoting... Do they really drop that much in your old age where you need the full 12???
K

well i practice stretching on a daily basis so mine are dropping far enough that i have to sit carefully so as not to hurt them😉

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[She shining]

Well, I didn’t think we would see the largest Bitcoin treasury company in the world announce a strategic US dollar reserve after spending years talking about the dollar being a destroyer of value. In his defense though, Saylor said he would be buying the top forever. He never said anything about buying the bottom…

Mnav is at a critical point. He's getting desperate. How many of these treasuries company would survive winter would be answered only by time.

[BTCETFInvestor]

Well, I didn’t think we would see the largest Bitcoin treasury company in the world announce a strategic US dollar reserve after spending years talking about the dollar being a destroyer of value. In his defense though, Saylor said he would be buying the top forever. He never said anything about buying the bottom…

@OgNasty - It surprised me too that Saylor decided it was prudent to form a USD reserve for MSTR stock dividend payouts. I'm guessing he was advised by his CFO or outside counsel to make a USD reserve to protect the guarantee of payments for stock dividends. It may also have been needed as a check-the-box item for inclusion to the S&P 500.  

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Biodom]

Last night, I meant to say here that I was speculating that Saylors comment about "adding green dots" might mean that they were going to start buying US dollars.

And that turns out to be the announcement.

I will admit my initial thought was they would be selling Bitcoin to buy USD.  But the announcement sounds like they're just srtting aside, a US dollar reserve, alongside their Bitcoin reserve, which they're still adding to.

My gut thinks this could be a prudent strategy for avoiding certain turbulence hurled at them, but I don't know.


As to the hellish price action of the last 12 hours, I just have this to say.

Shit.

I haven't figured out what's causing it exactly yet.

A prudent strategy that should have been employed when the mNAV was closer to 2X than to 1X.
It "killed" the stock today, but increased their survival chances, for sure.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[JayJuanGee]

Last night, I meant to say here that I was speculating that Saylors comment about "adding green dots" might mean that they were going to start buying US dollars.

And that turns out to be the announcement.

I will admit my initial thought was they would be selling Bitcoin to buy USD.  But the announcement sounds like they're just srtting aside, a US dollar reserve, alongside their Bitcoin reserve, which they're still adding to.

My gut thinks this could be a prudent strategy for avoiding certain turbulence hurled at them, but I don't know.

It is a very good strategy, that is why Tether is not going anywhere. As long as they keep themselves strongly invested in US treasuries they are protected. 

There is a certain level of desperateness that comes out with the various bitcoin FUD - which also relates to the Tether FUD, and the Tether FUD has been going on since right around the time of the New York State lawsuit, and there was a time that Tether's custodian had taken 100s of millions of dollars from Tether (and that robbery may well have had been backed by USA regulators).. and largely Tether has always been backed and even more backed than they tend to need to be - since they generally need to just be able to back all of the USDT with actual dollars in a run on the bank kind of a situation.. and USDT's liquidity had been tested in quite profound ways, including the various 2022 runs on various banks.. including Tether.

Of course, tether is quite profitable, and it likely has a lot of competitors, yet strength does end up propping up bitcoin to some extent and even propping up various shitcoins.. since at least the USDT half of any trade would end up having backing.. yet who knows about shitcoins, half the time.

BTC is down a whopping 5% 6% 7% 8% in just the past 24 hours on $70B $71B $72B $73B $74B $75B $76B $77B $78B $79B $80B $81B volume!  

Looks like everybody is running (stampeding) for the exits!  

Everyone sprinting for the exits like it's black Friday sale.

Early December and we’re already in a massive price drop. The steepest correction since the spot ETF launch. ETF recent outflows and big whale sell offs are the main drivers for this correction. The market is finding it difficult to find a strong support because institutions keep pulling cash even though average holders are still HODLing.

Well?  You have ONLY been here for 2 months, so what are you doing Big Dirams?

Have you been in bitcoin longer than 2 months? or are you just getting started?

Regarding the BIGGEST drop since the spot ETF launch, sure... it is true that bitcoin has been on an UPPity tear since about October 2023.. so we have not really had any BIG corrections in the past 2-ish years.. yet what are you trying to get from that supposed relevant facts that makes it seem like something terrible is going on in bitcoin right now.. and even seems a bit exaggerated.

Are you putting yourself in the camp of the "average holder?" since you are still new here.. and if you are holding, wouldn't you also be buying, especially newbies?.. we haven't seen these kinds of prices since April-ish, and yeah of course we also cannot really be sure to where we might be going from here... but still what are you doing and even anyone who has been accumulating bitcoin in the past two years?  I would imagine still accumulating might be good, even though not everyone (even newbies) continue to accumulate bitcoin, even though we are in 30%-ish to 34%-ish dip territories.

[wachtwoord]

Well, I didn’t think we would see the largest Bitcoin treasury company in the world announce a strategic US dollar reserve after spending years talking about the dollar being a destroyer of value. In his defense though, Saylor said he would be buying the top forever. He never said anything about buying the bottom…

@OgNasty - It surprised me too that Saylor decided it was prudent to form a USD reserve for MSTR stock dividend payouts. I'm guessing he was advised by his CFO or outside counsel to make a USD reserve to protect the guarantee of payments for stock dividends. It may also have been needed as a check-the-box item for inclusion to the S&P 500.  

This type of company shouldn't pay a dividend, that's illogical (internal inconsistency of his pitch).

Dividend is a return of capital because the company doesn't have any higher roic options. Saylor claims to think bitcoin will go up by a lot (most of us here agree) so the cash that isn't needed to run the rest of the business should be deployed to by bitcoin, especially when the price is depressed.

You don't see Berkshire Hathaway or Markel pay a dividend now do you?