Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 7344. (Read 26708063 times)

Depending on the future Tether could turn out to be the biggest shitcoin ever based on my own definition.  (And I am not an anti-tether conspiracy theorist)

Tether may be the most centralized "crypto asset" that has ever been made.  I suppose the vomitous ripple gives it a run for it's ephemeral money.  But it might even have that beat.

It is "backed" by accounts on some island bank. ---  Boom.  Are there any more things that we need to say?

Yes, it price is *usually* pegged to the $, but that does not mean it's not traded like a shitcoin.  It is a blurry xerox of the ULTIMATE shitcoin.  It is a synthetic, dubiously backed USD which is what Bitcoin trades AGAINST.  That is why it's illusion of stability even exists.

Anyway... I think all that is worth saying... so I said it.

In any event, Tether does not seem to be a shitcoin in the sense that anyone would seem to want to pump it or dump it because it seems to largely remain pegged to the dollar within a percent or two, unless there is some kind of strange thing going on with it.

Surely, sometimes we have legitimately talked about tether in this thread, and surely some members have considered tether to either be a BIG ass scam or something that might end up being used to pump or dumb bitcoin or some other coin, so in that regard, there has been some historical discussion of that coin in its possible relationship with bitcoin, and I am familiar with more and more of tether being used in the ethereum (aka shitcoin) sphere.. so in that regard, there have been various argument being raised in terms of tether's relationship to shitcoin ethereum or if that change in tether's usage has any meaningful or significant effect on bitcoin whether platform or integrity risk, changes in liquidity or other risks, such as regulatory risk.

So, sure, even if tether has been more increasingly used in ethereum, it has not really gone away as a liquidity avenue in bitcoin whether we are talking about binance or bitfinex or other exchanges that had historically used tether but seem to have moved away from using tether / BTC pairs at this point.

weekly addendum

Only half way thru but so far looking good for bitcoin. Finishing with positive volumes this week will cement the strong bullish move over the cloud top imho.

#dyor
W

#stronghands

I am pretty sure the move is imminent as you say LFC.
Retirement, here I come.

You’ll only have to wait 12-18 months for the next massive move.

Me too!   I'm in my early 60's, probably got no time to wait 10-20, or even 5 years

the noon wall report at 11am

Capturing the 0.618 short fib on rising volume bitcoin is starting to show a stronger bullish bias trading above $9.4k.
4h


Breaking out above the kijun-sen resistance and looking towards top of cloud it appears as if we have left that descending channel behind and are now searching for clearer sky.  #dyor
D

#stronghands

Tether is (in most part, at this point) ETH based.

Has anyone said to ignore shitcoins?



No. You are fine.. You seem to just be persisting with nonsense for the mere sake of it, at the moment.


Yes, and this is where we have the potential to get into irrelevant discussion about which shitcoin happens to be less shitty.  That sounds like a great idea....



Maybe.. maybe not... but who cares in terms of this particular thread... sure, you might throw it in incidentally in one of your posts, and no one is going to notice or give any fucks that you mentioned it.


No one argued with you about that, either.. at least so far.


good for you.


And, they can all fuck themselves.. especially moreso if they post about it... .  



Whatever.  


Tether is not exactly an altcoin.. but it does seem to be a liquidity vehicle and also a temporary means to either hold dollar value or to move dollar value without actually getting actual dollars.


Surely, word choice is a discretionary matter, but does not mean that some push back might not take place.  

I just think alts have too big of a connection to/impact on BITCOIN price to ignore.

If you consider my positions to be too close to positive then just mute me.

I really think every alt (but one) to be ultimately trash.  (And even the one might end up in that camp depending on developments.)

As i said... I think the development of alt prices/moves etc are a very interesting bellwether for BTC and too big to ignore.  I will talk about them.  And I am not going to take the time to write giant negative disclaimers.

There are probably dozens of people in here who think ETH is a good investment.  I think ultimately that is a mistake.  But that has no bearing on the fact that BTC (the whale) has ETC (the barnacle) coming along for the ride.

If for no other reason that Tether we are currently joined at the hip for better or worse... In the end BTC is king daddy.  I am not gonna go to the trouble to make multiple disclaimers the rest of the time... that is due diligence that belongs to the reader.

Which direction do you think?

Good afternoon WO!
Fasten your seatbelt, bitcoin is going for a crazy ride, I guess.

Observing @ $9,376

This is my 20,000th post. If I do another 20,000 I think I'll be rather disappointed in myself somehow.

I was going to threaten suicide or demand money to stay, or leave, but I'll save that for the 21,000th.

Go, me.

That is surely a fair assessment.


That is surely hyperjacked-wannabe eyeroller.



 

Sure.  Goes without saying that honey badger does not care, but do we really need any positive talk of shitcoins in this thread?

You know any kind of positive talk whatsoever devolves into shitcoin pumpening or comparing and contrast of which shit coin is less shitty...

ain't nobody got time for that....



even in this thread in which it seems that we have lots of time, anything positive about shitcoin devolves into unnecessary clutter and ambiguity..


Of course.  But why talk about it here, even if it is possible?


Again?  Relevance here? Does it really help to keep this thread from devolving into shit to be playing around with those kinds of possible nuances?


It's not like I don't know what you are saying. There are considerable likelihoods of getting inadvertently sucked into those kinds of topics with a lot of frequency when listening to various podcasts or attempting to absorb various media content, but that does not seem to be an argument that we should not at least attempt to have some kicking and screaming when members try to pull that seemingly unnecessary shit here.  We already have enough of that with trolls and newbies who are confused, so why should more senior members be perpetuating that same kind of ambiguity and muddiness in these here parts?


Nothing wrong with that... just don't need to talk about it here.  It is not like it is a BIG FUCKING secret that there are ways to make money off of shit, but where the fuck do you think that is going to lead us, if we start to believe that every little time some guy pulls in profits here or there on some shitcoin starts to brag up that bullshit in this thread?  And so fucking what that he was able to buy more BTC with that trading?

If s/he feels like rejoicing about how much money that s/he made on x, y or z shitcoin (beyond just incidentally mentioning it), then why not rejoice in the ANN section.. there are plenty of those shitty threads rejoicing about various shitcoins m,n &o on a regular basis, and they may also be rejoicing about x,y &z too if you bring it up... and make some shitcoin buddies.. why should we give any shits here?  You may even be able to rub elbows with Roger, craig, calvin, peter, gavin and a few other notables that do not spend too much time in this here thread (thank god).


And, that is why you decided to make positive statements about shitcoins because you want to be lazy and you really want to talk about shitcoins here.. damned everyone else who are trying to keep that sheeeeeet out.. you are wanting to make an exception for ur special lil snowflake selfie.


Of course, there is no problem making various allocations in your portfolio that are not about bitcoin.  There are not too many nutjobs who go completely bitcoin, and again sometimes we even talk about our various ways about allocating, which might even involve some shitcoins (without either devolving into shitcoin pumpening or spending too much time on such likely-to-devolve topic of shitcoins).  Furthermore, it might be understandable that a younger investor might either take more risks and include shitcoins in his/her investments, but still seems to be quite problematic to get into some of those details in this particular thread.. same thing with talking about various PMs such as gold.. sure there can be some relevance, in this thread to talking about gold in small doses, but it just has a tendency to devolve, so better to just say fuck gold.. so that those topics do not go too far afield here..  and in the end, no one is likely to stop a high ranking member like you from bringing up shittopics, and you likely will get a lot of leeway too, but is there any real value in just unnecessarily stirring shit about any of these kinds of topics rather than just mentioning them in passing or taking them to another thread if you want to get all hot and bothered by a topic that is problematic in a thread like this?

I think there is a greater than usual chance for this rally to still have legs.  Both because of how the entire sector is acting, AND how the BTC chart looks.  This stands to be more than just a little bullrun it LOOKS like a breakout.

That said i have no effing idea... and it certainly COULD be a bulltrap.  If so I'd expect us to drop hard.

One scenario for this is if we see NASDAQ, S&P etc confirm a dead cat, which they are primed to do.  If THAT happens then we either fall with them, or we confirm a decoupling.  unfortunately history favors the former.

But with the Fed using up all the zeros we might just see the markets keep brrrring up.

That is a win/win scenario for bitcoin I think.

We could do with a bit of follow through on that last green dildo. Seems to have been a solitary candle. Hope we get a little more support and this isn't just a fakeout.
Don't get me wrong, I am hodling either way but hoping we can get this party started sooner rather than later. (I'm getting on a bit) ☺️

A proper run at $10,000 now would be really bullish & most fucking welcome. It’s about time we started a slow grind up to $15,000 or something before 2021.

Thanks for covering me, I realise I should explain acroynms better, but I was being lazy 

Red line is the point of control, the histogram bar where most volume/trading has occurred:



Re previous post, closing above $9,420 is as important imo. Expected retracement of a dead at bounce is to the 0.618 fib (before trend continues), which we are unfortunately currently struggling to close above in the next 12 minutes. Not that we'd need to close above it with the current candle, but for me the bear channel, 200 MA, 0.618 fib retracement & VPVR POC (larger time-frame) is the confluence of resistance (x4) I'm looking at on this time frame. A break of the bearish channel simply isn't enough.