Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 5362. (Read 26707437 times)

Not yours either.

I second that.

Merited.

So enlighten me (and I don't mean it sarcastically - I genuinely don't know) how Saylor and/or MSTR is going to pay interest on that debt and repay the debt itself? Dump some corn? What if corn lags around $30k?

Just as the system won the war on drugs in the 90s right? riiight?? 

Explanation

Will do, thanks. Too busy IRL, but so great to have WO (and WOers) pointing us to the good stuff.  

You should be interested reading this article from Forbes.

https://www.forbes.com/sites/theapothecary/2021/06/07/el-salvador-to-make-bitcoin-legal-tender-a-milestone-in-monetary-history/?sh=3cd5186275b9

Yeah that reads as if it's cumulative for the year. That's pretty dumb, technically you're obligated to keep track of every cap gain on your FX, so if you had a quick trip to US on Jan 1st and bought crap that resulted in some cap gain even if it's under $200 you're expected to keep track of it, just in case on Dec 31 you do another trip that pushes you over C$200 Sucks for Canucks

This sounds like big news. I just hope LN won't collapse under such a heavy load as an entire country officially adopting it. I'm in favor of LN, but from the few things I've read about it over the years, I get a bittersweet feeling, like it's not yet a polished protocol. I hope I'm wrong and it passes the test with flying colors.

Lots of good news lately, not yet reflected in the price. I'm sensing a massive UPpity move in the coming weeks.

Yes, good idea, thanks. He's not very good with technical stuff, so I should keep things as simple as can be. A vanilla paper wallet (without a seed) can be dangerous. The seed is a human-readable version of the private key, so I should use that instead.

El Salvador is adopting Lightning Network. Will this be the kick-off of layer 2?

70% has no bank acount, few million working in the U.S, this will give their remittance market a major boost.

Impressive and mind blowing. The world will finally realize the awesomeness Bitcoin can offer, this is just the beginning.

Those shitcoiners in total disbelieve and so butthurted they running around like headless chickens, fck them all!

May I suggest a normal wallet like, say, Electrum. Then write on paper the seed phrase. I understand paper wallet also means private key written down but that can get confusing in the future and you might inadvertently use a different address format that is not native segwit.

Of course, done on an air gapped cold machine, if possible.

It might be a good idea to get some, in case it might catch on.   



The proof of the pudding is in the eating.


In other words, there is life after re-nymening......

 


In my humble bumble opinion, you are being way too "open-minded" (if we could appropriately call it that?) with your recognition that bitcoin could go in either direction.. blah blah blah... 


Bitcoin is already built for attacks... so you are anticipated more hostilities towards bitcoin?  Some governments and financial institutions already tried some of that.

Yeah, the media is going to take any opportunity that they can to pile onto any dogpile, but so what?  What else is new?


Get the fuck out of here with these kinds of one cause explanations regarding why bitcoin goes up or bitcoin goes down.  Sure, there can be exacerbating conditions and even the jumping onto the bitcoin bashing train accompanied by lots of actual sales to try to drive the BTC price down as far as possible and keep it down as long as possible, but you really believe that Elon caused something that might have not already been inclined to happen?

Give me a break.


Yes.. anything can happen including 3 digits, but hopefully you are not dumb enough to place more than .01% odds on such occurrences.  It is bad enough that you are saying it, as if it were any kind of real or meaningful threat of happening.


Sure, there is both froth in the overall "crypto" space, and sure there are internet and social media related dynamics that could exacerbate momentum beyond what might have been achievable in the past, but still there are limits too in terms of what is reasonably feasible (even when considering extremes).

Just ponder regarding how insightful (and famous, and richie) you are going to be when your $911.11 buy order gets filled?  Imagine that?

OK, so I was at our usual Sunday BBQ yesterday, and a coiner friend tells me he wants to withdraw 2/3 of his shitcoin stash, in fiat. I asked why, he said he's fed up with it. He has been playing with shitcoins for 5 years now, and managed to triple his fiat value, but not more than that. If he had listened to me and had kept and HeDL everything in BTC, he would now be at least 30x of his initial investment.

He will be withdrawing around $10k in fiat (to his bank account), and using the remaining $6k to buy BTC (yes, no shitcoins!), and HoDL it. That should give him around 0.17 BTC. Not much, but still OK for a healthy sum a few years from now. He even told me to withdraw that 0.17 BTC from Kraken and keep it in a paper wallet, so that he won't be tempted to "play" with shitcoins again. I think he learned his lesson the hard way. He could have almost 5 BTC now, if he had stayed in BTC the entire time. When he started, 1 BTC had just passed $1k...

Going there now, for another mini-BBQ, and to help him with the withdrawal.

HoDL (and don't you dare go into this cryptocurrency shit).

Explanation

Yawn.

Variations of these behind the scenes and in front of the scenes are simultaneously and increasingly happening by BIG players and small players alike who are making a whole lot of individual choices regarding what options might be available to them and which options to use, and some normies and even BIG institutions do not know what the fuck Gresham's law is, but they are engaging in choices that both follow Gresham's law and end up gravitating their value into the fastest horse in the race, whether they are going to admit it or no.

Whatever effect the Saylor/MSTR continued employment of decently large debt instruments (third one as far I have heard), including your accusation that he is skirting the SEC, seems to be happening within legally accepted modalities, very publicly, and I imagine that Saylor has been both getting very decent counsel on the topic as well as would be in a very decent position to use any legal action against him (in the pie in the sky hypothetical that such an action would come) to draw even more attention to what he is doing and has been doing in a Streisand effect way that neither the SEC or any other branches of the US Govt. would be in a very good position to damper such anticipated Streisand effect.  In other words, I would be hesitant to presume a bad ending to what Saylor is doing (personally and through his company) or what Saylor is going to continue to do... So far, seems pretty damned solid and likely to have several imitators, even if they are less public at least in terms of their getting their company treasuries into BTC.

One man's trash is another man's treasure. Don't discount the possibility of trash having any value just because you believe it should not. They do. While we all believe they should be zero ... it's currently above zero for now. If you know how to take advantage of it, you probably would try. If not, then it's just as well to keep whatever value you need in just bitcoin.

All things are going according to the plan. The first week after the dump set a 20% range, the second - 10%, the current - 5%. It is like a falling wedge but with higher lows - a clear sign that an upward breakout is coming. The weak hands are lost behind in tears, while the holders acummulate more with every hour. This 36K fake equilibrium can't fool nobody. Bitcoin is heavily undervaluated obviously. Currently only the pump and dump groups in the derivate markets are holding the price low, but not for long. If they don't close their short positions in the next few days, the incoming big buys will liquidate them quickly. I expect prices above 45K when MicroStrategy purchases ~10K BTC's in the next few days. Hopefully, this will be followed by other big investors and we will have an exciting summer aiming at 100K.

Explanation