Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 7469. (Read 26729993 times)

I don't know really.  They also did a portion on liquid, which I would think is MUCH MUCH MUCH better than the crypto-kitties garbagatorium.  They have also released USDT an EOS, and TRON (LOLROFLMAO).  I guess not to put all ones scammy eggs in one basket?

https://cryptobriefing.com/bye-bitcoin-tether-booms-on-ethereum-withers-on-omni/

https://www.thestreet.com/investing/cryptocurrency/crypto-conversation-tethers-swap-is-swarmed-by-questions

Is there a write up why they moved from the omni layer and how they accomplished that?
Also why the fuck would they do that in the first place?

Regarding btc vs unnamed alts. Not really the right place, but the topic was already discussed above.

I consider btc as a savings account and alts as a checking/spending account.
I only invest single digits (in total) into alts, but sometimes they run up impressively.
Then they drop just as precipitously, so I try to take profits aggressively, mostly into fiat, with some going back into savings/btc.

BTW, this is the first cycle when multiple alts started going up exponentially before btc significantly appreciated (if you ignore the last summer "premature" bump).

Cup, meet Mr. Handle...   

Variations of those kinds of skepticisms of tether are not exactly new, and even though tether started being used in early 2015-ish, a lot of the conspiracy theories had gotten pretty strong around and following Bitfinex's purported hackening in 2016.. and surely there has been a sufficient amount of drama regarding it, too.... and whether any of those potential downfalls of tether end up playing out, there could be some meaningful negative impacts on bitcoin, as you suggest - just like there are other possible scenarios in which either bitcoin's liquidity is tested or bitcoin might end up having to go underground, which currently seems to not be very likely but remains a possibility. 

Some scenarios are more plausible than others, and surely last year, Armageddon scenarios were probably less than a 1% chance, but perhaps one could argue that since early 2020 and some of this year's playing out of virus, markets and the revealing of supply chain vulnerabilities and erratic desperations that politicians can sometimes employ or threaten to employ causes Armageddon scenarios to become way higher on the probability than they had less than 6 months earlier.

So, even if we are adding up a bunch of scenarios that do not seem likely on their own, we have seen unlikely scenarios playing out in recent times too, and becoming more and more probable, at least within speculating regarding things that might happen, which may well inspire both a need to think about these matters and also some need to at least consider which preparatory measures might be prudent and reasonable.

Definitely, I hear you, btcbeliever, and there surely can be justification for transitioning into more of a liquidation phase, and in that regard, either bitcoin is not a very good investment for people who do not have a decently long time or the folks with the relatively shorter timelines need to consider taking a bit of a smaller position in bitcoin, due to its ongoing risk... that may be a bit much if the investor has a time line of less than 5 years and continues a bit disinclined to gamble with large portions of his/her investment portfolio holdings.

Of course, if a bitcoin investor is entering into his/her 60s, and s/he has already accumulated a fairly decent investment portfolio that has come close to already meeting his/her investment accumulation goals of $1million or $2million or some other personally set amount, then  it may not matter so much to the investor if s/he already has put (or has accumulated) a value of 5% to 10% into bitcoin which might be $50k to $200k or if the amount is even equal or greater than the other portion of the investment portfolio, such as having an additional $2million in bitcoin.. because even if bitcoin goes to zero, this particular hypothetical investor has already completely reached his/her investment goal in regard to his/her non-BTC portion of his/her investment portfolio..

There can be a considerable amount of variance in regards to figuring out if the BTC portion is causing unnecessary risk to the HODLer or if s/he should just let his/her investment portion ride - and of course there are incremental approaches to cashing out or reallocating which is one of my favorite ways of thinking about the matter - and Jimbo seems to have a similar approach to whatever portion of his portfolio happens to be in BTC too.. and some of that also could do with how long you have already held the BTC in terms of whether it is already profitable whether you cash out at our current $9,400 price or if you feel that you need higher prices, or even if you would be willing to cash out at $5k, if it seems that we cannot break out of the mid-4-digits.


Surely, not guaranteed.. even though there are a lot of theories to support giving decent likelihood to such an exponential price rise in the next year or two at the latest... I personally would not gamble in that direction.. but that is my personal approach to these kinds of matters.

Call me a party poop... if you must. 

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.