Explanation
Chartbuddy thanks talkimg.com
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 109. (Read 26461496 times)
August 13, 2024, 03:01:14 PM
August 13, 2024, 02:43:08 PM
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.
August 13, 2024, 02:33:15 PM
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)…
August 13, 2024, 02:17:19 PM
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.
August 13, 2024, 02:12:34 PM
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]
August 13, 2024, 02:11:00 PM
August 13, 2024, 02:06:14 PM
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.
August 13, 2024, 02:01:16 PM
August 13, 2024, 01:37:37 PM
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:
https://cryptohayes.medium.com/water-water-every-where-faf76ba24b44
TL;DR a bit complicated for me to fully understand, but here is a conclusion:
Quote
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.:..The 2025 Sino-American crypto bull market shall be glorious.
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.:
August 13, 2024, 01:28:56 PM
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:
Quote
“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
― 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).
August 13, 2024, 01:05:12 PM
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:
Quote
“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
― Robert A. Heinlein
August 13, 2024, 01:02:35 PM
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.
August 13, 2024, 01:01:13 PM
August 13, 2024, 12:50:00 PM
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.
"I'm not driving, I'm traveling!"
"This is not a car, it's a travel shuttle!"
"Officer, I'm calling 911 right now!"
Good for a quick binge if you have free time for some fun, but don't waste more of your time there. Flat-earthers v0.10
"I'm not driving, I'm traveling!"
"This is not a car, it's a travel shuttle!"
"Officer, I'm calling 911 right now!"
Good for a quick binge if you have free time for some fun, but don't waste more of your time there. Flat-earthers v0.10
August 13, 2024, 12:12:33 PM
what up with that chart 📊
the usa is an asset?
eurozone is an asset?
china is an asset?
japan is an asset?
the usa is an asset?
eurozone is an asset?
china is an asset?
japan is an asset?
dude...it's just a small ESL misnaming.
He meant the value of the country currency in comparison with bitcoin or gold (in $$).
However, bitcoin is not just a currency as we all know.
The numbers are wrong anyway: USA M1 is 18 tril
Quote
M1 consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) demand deposits at commercial banks (excluding those amounts held by depository institutions, the U.S. government, and foreign banks and official institutions) less cash items in the process of collection and Federal Reserve float; and (3) other liquid deposits, consisting of other checkable deposits (or OCDs, which comprise negotiable order of withdrawal, or NOW, and automatic transfer service, or ATS, accounts at depository institutions, share draft accounts at credit unions, and demand deposits at thrift institutions) and savings deposits (including money market deposit accounts). Seasonally adjusted M1 is constructed by summing currency, demand deposits, and other liquid deposits, each seasonally adjusted separately.
https://www.federalreserve.gov/releases/h6/current/default.htmCirculating currency in US (I assume) is 2.35 tril:
https://ycharts.com/indicators/us_currency_in_circulation
I am not sure where eurodollars are counted...based on the definition above, those are probably outside of M1.
August 13, 2024, 12:05:58 PM
ok if you insist lol
and maybe you sold your gox coins. i didnt.
August 13, 2024, 12:01:14 PM
August 13, 2024, 12:00:29 PM
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.
August 13, 2024, 11:54:51 AM
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.
August 13, 2024, 11:36:48 AM
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.
https://x.com/bitcoinmagazine/status/1823377472953401645?s=46Yep and it was my question yesterday.. Seem like MTGOX still have 33K BTC : https://x.com/MtGoxBalanceBot/status/1823361398614716921
And on the other 110K distributed, how many BTC in % was really distributed by the exchanges to the final creditors/customers ?!
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