Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 6691. (Read 26724020 times)

this is a speculative attack. and we all know it is a viable one. and Wall Street will watch it in awe. and it will work out. every calculation about bitcoins possible future value needs to be re assessed. when we calculate the future price of btc we always try to figure out what percentage of what market cap or asset value could migrate into btc. this is short sighted. this leaves out the elephant in the finance room. we always calculate with existing value. but there is a much larger value in the form of credit. fractional reserve. banks create money out of thin air by creating credit. if you go to your bank tomorrow and get a 50k loan for a new kitchen, the bank creates those 50k with a stroke of a key into their accounting ledger. this is not the "money printed" by central banks. this is money printed by every private bank on the planet every day, all the time.

the narrative "don't speculate with borrowed money" that sort of prevents us from maxing out our credit to buy moar btc is about to change. what seemed to be irresponsible in the past will seem mandatory in the future. you can trade worthless, ever-inflating, dirty, debased fiat money in the form of truly limitless credit into the hardest asset ever invented. into pristine, mathematical secured collateral. into the a proven trustless digitally scarce unforgeable, uncensoreable, unconfiscateable best form of money ever existed. and the interest for credit is at historical lows, so it is even fkn cheap to do so and also - since the interest is so low it is hard to find an asset that creates enough returns via interest - fiat has no chance.

credit is cheap. bitcoin will rise. as soon as this gains traction it will swell to a tidal wave.

credit will destroy fiat. because the best bet for credit is to bet against fiat. because fiat is worthless and bitcoin is truly scarce.

i will talk to my bank tomorrow and I will get a loan. and with it I will buy btc. and if btc rises I can get more credit. rinse and repeat. this is how rich families have played the real estate market for decades now: get a loan with real estate as collateral, buy more real estate. wait for prices to rise, get another loan buy more real estate.

this game will be played with bitcoin. and since bitcoin is not a clunky 7 bedroom hacienda but a native digital asset moving at warp speed through the interwebs. holy cow -  the extend to how deeply fucked the fiat world is I have problems to find the words here.

fiat is limitless. credit is limitlessness on top of limitlessness. bitcoin is the first truly scarce, limited asset.

my conviction doubled. grab all bitcoins you can. sub $20k is as hilarious as $2, considering how much credit banks can produce.

I declare complete and utter victory. saylor for president.

fractional reserve will eat its children.

They probably changed it afterwards, it is now much higher for pro level (daily $10mil), with a strange exception for Texas (TX is only up to 200K daily or something like that).
I have no idea why, maybe their bank has a quirk.
I also agree with a notion that all these limits are silly as it is YOUR money.

How low are/were the limits, and have they increased them since then?

Do the limits they state on their site match the limits they allow when you actually try to make a withdrawal?

FTFY 

I would go for 0.1BTC, she might have covid and upon contact, she might infect me with that shit. I like to live and spend those 0.1BTC at some nice foods not her

noon charts

#dyor

1h



4h

#stronghands

You are too smartie pants for your own good, bitserve!!!


If the asset is presumed to appreciate, then you would not need to withdraw as much in later years.  But, my own formula does not suggest withdrawing principle in the earlier stages, but instead an ability to completely live off of the expected appreciation.. and of course, at some later date(s) plans would be adjusted to withdraw principle too, if there is a desire to deplete some of that instead of leaving it upon death or otherwise being o.k. with depleting some or all of the principle.

0.1BTC or her for the night?







Kraken withdrawals are quick & smooth. I had to really fight to get the max withdrawal limit though (in anticipation of next years big run).

They wanted proof of my BTC purchases & salary & all sorts.

Had some kinks with Kraken but they worked out the issue and resolved in a couple days, never had another problem.  Gemini has always been rock solid.

I haven't cashed out from Kraken yet, but the limits depend on your verification level. They get reasonably high with the max verification level, and I think they can even be pushed a little higher by negotiating.

Took a week or so to get ironed out, but then I discovered that they had ludicrously low annual cashout limits, so stopped using them entirely, in favor of Gemini.

Who needs TA:


MicroStrategy Completes $650 Million Offering of 0.750% Convertible Senior Notes Due 2025

https://twitter.com/michael_saylor/status/1337442902134362113?s=21


So he is not buying for 400, not for 500 - it is for 650 million $!!!

Lol

Two apparently unrelated news:

• Negative Yielding Debt Tops 18 Trillions Dollars
• Microstrategy Issue 400 500 650 Millions of debt to buy Bitcoin.

How comes I am not surprised?

Relevant tweet from a shady twitter account:

https://twitter.com/fillippone1/status/1337447410654728194?s=20

More here

That should be how it works, but it's not always how it works.

Short version: there are not only macro traders into bitcoin. Some definitely saved their FOMO investments of late 17'

Torque and STT just layed out what stood behind my four words  
I am too lazy in communication too often  

I don't really get why exchanges would have any limits. They usually don't have incoming limits. You can send any amount of coin to them, you can also send any amount of fiat to them.

If someone sent a thousand coins to the exchange, and if someone else bought those coins (or more than one person), those sent in the equivalent fiat, why should the first one not be allowed to withdraw it all? The exchange has already made their profit on trading fees or any other fees they may have.

Snowball into some profit taking? R u serious? So who's going to sell? Grayscale? Microstrategy? Maybe Paypal? It's not 2017 bro...  

A month back I had predicted that profit taking would start on Dec. 10th or so, but it seems it started a few days earlier on the 7th.

Why was it a nightmare? How long did it eventually take?

Years ago I read a complaint that they promise unlimited withdrawals, but in reality only allow $50k a year. When I recently checked their site it says they allow $100+ million a year for their top tier. However I haven't had a chance to ask anyone about their experience of a really big withdrawal yet.

Its a break of bullish price channel.   We leave a regular assured process of gains and some speculators will depart, it can snowball into some profit taking and is quite a natural normal process to occur.   Arguably BTC markets have to cycle through prices to be take the air out and give a solid base for further rises, its not that harsh considering how much we gained in quite a short amount of time.