Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 5827. (Read 26717035 times)

I do not consider losing volatility as positive in a deflationary asset.

Lack of liquidity forces higher prices, period not matter how they want to argue it.

Haha right! I see now I should have said it doesn’t explain anything yet 

Already posted?

https://www.pcmag.com/news/paypal-now-lets-you-use-bitcoin-to-buy-products-from-millions-of-businesses


*EDIT* Lol... yes i see I am late.. but I do not care... I am posting it again.  This is HUGE.

I will add a little color to make up for my transgression.

I believe paypal will be using this as a strategic way to allow themselves to begin passively taking a position.  I doubt they will:

     -take bitcoin
     -pay USD to vendor
     -convert to USD for themselves

...with ALL of the BTC they take.  Instead they will leave at least SOME of it as BTC in reserve.

Too bad I think BCH is going to be continuing to limp along because of this...

https://www.burritosorbitcoin.com

Agreed.  And the positive side of that is less volatility in the underlying asset.  This was the reason for them to exist in the first place so you can hedge a position in the actual asset.  They are a form of financial insurance. 

I am agnostic as to the +/- of derivative futures contracts.

Glad to see more upwards price action seems to be on the way. Sorry if someone already mentioned it, but I had an email when I woke up, from Chipotle. Saying “Something big is coming” and “BURRITOS OR BITCOIN”, yet not much else. There’s also a “learn more” button that doesn’t work yet lol

That's simple. They issue tethers at the cost of one dollar. They will also redeem tethers for one dollar each. So everyone else will do close to the same numbers and most centralized exchanges will trade close to the peg as they all know it's supposed to be one dollar each.

How they keep it as close to one dollar, I'm not too sure, it seems to be either 0.99 or 1.01 most of the time or something very close to one dollar across many exchanges.

Derivatives steal volume from the underlying asset class and therefore if nothing else they act as a cooling mechanism.

 

Here is WSJ kinda defending so called Stablecoins
https://youtu.be/GEvxWQmloLw

I don’t understand why everyone speculating Bitcoin’s success with stablecoins? What is the definition of stability then? How they can keep the 1:1 parity in the first place? Wasn’t banks suppose to do the same and where are we now with it?

https://tether.to/assurance-opinion-mar-21/

 There's enough corn there to choke a horse.  Jealous!
Moar corn please!!!

Anyone else think if Annonymint and JJG had a love child they named him "nullius"?

I think that Jihan should go fork his mother.  Anyway, he just shit a brick.

For almost any operation at scale, there are large advantages to centralisation.  That fact is uncomfortable to Bitcoiners, but it is a fact.  Big operations are more efficient than small ones—not only bigger, but more efficient.

Bitmain is a threat to Bitcoin, and they are still far too powerful.  Methinks that they are about to get cut down to size.

Blockstream has been running “enterprise colocated” mining for years.  Their co-founder and CEO is the inventor of Hashcash, so I would wager that they have this mining thing pretty well figured out...  For hardware, they are partnered with a Shenzhen-based company who is not Bitmain (I guess still a Chinese company because Americans destroyed their own industrial base decades ago; but Blockstream’s mining facilities are in the U.S. and Canada).  They have been on a hardware buying spree, they say that they have over 300 megawatts of capacity to run all this hardware—and they say that they are just beginning to ramp it up.

I was thinking more too the tone of that old 60's tv show The Million-dollar man.
But that is meme worthy as ever since it is weird.

Also in the news, this would probably be the reason why when you woke up this morning to see BTC price rise back up to levels nearing the ATH again.
https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N
Was going to post a thread but one was already created..
https://bitcointalksearch.org/topic/paypal-created-crypto-checkout-service-5327297
Man, am I losing my touch. My information updates from sputnik not coming in on time.

Just 1/2 hour later after reuters breaks the news about paypal allowing cryptocurrency (yes, ltc too ) for payments to merchants, you see BTC back at $59k again.
Closer to $60k is where we should be at.

ShAzAm!

It's not any real change IMHO.  They just don't want the contracts to cost a quarter mill with no granularity.  So it could increase their volume a little.

I also have been at least somewhat dubious over the years that the CME futures tanked the BTC price in 2017...  Maybe contributed?  A catalyst? 

It's because we can now run our own affairs that the vax programme is going so well. Just look at Europe trying to ban exports to the rest of the world and arguing amongst themselves . Disgraceful

Really don't know if this a good thing or not, last time it wasn't...

Of course, my mistake.

I know, it's not very smart to say US globally when it's known that every state can have different rules, but I didn't go so deep as to find such statistics. However, if the figure of 28% is correct (a total of 1 and 2 doses vaccinated), that is a very good result - because that percentage was below 5% at the end of the last president's term.

However, the fact is that those who produce vaccines have priority for their own residents, which is quite normal - and the EU has nothing but one AstraZeneca factory in Belgium, which until recently exported the vaccine outside the EU, while the same company violates all signed agreements on delivery of the same vaccines to the EU.

Yet given the number of deaths associated with this vaccine (AstraZeneca), for some the incompetence of EU bureaucrats may have saved their lives. From cases I could study in more detail in my country, people would simply collapse within 5-15 minutes after vaccination and die without having had any serious health problems before.

I wouldn't say its a scam, but just like not your keys, not your bitcoins, it's similar, if you don't have the hardware with you physically, it's ... tricky.

I joined a few a long time ago, and they turned out fine. Later on, I had the opportunity to buy miners, and send it to some warehouse located in northern Canada (somewhere cold) and some guy from this forum will take care of everything. I think he had a few hundred miner hardware and an actual warehouse. I don't know if he still operates the mining farm today (most likely, I can easily check) but if I had to buy any ASICs today, I would most likely send it over to him to take care of.

The mined coins go to your address, so you have to take a small portion of that and pay him his hosting fees, which include network and hydro (electricity) costs / expenses. He has the physical hardware anyways.

I think what Blockstream is doing and some other large mining farms, they are "professionalizing" and "institutionalizing" the mining now. Also it scales well since they operate everything, large warehouse, large location, cooling, maybe a mining pool, etc etc.

You could live in a small apartment and not worry about running miners at home even if you had the capital. Just let someone else do it.

I think the idea is closer to something like REITS or REIT ETFs.