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1183
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: July 29, 2021, 02:37:08 PM
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OT: I find it both hilarious and sad, that the general public doesn't understand why the stonk market ends each year ~10-15% in the green, when it doesn't even make sense to go up. Every single year. The markets will never have a single down year. And two in a row is completely unthinkable.
The secret is because it has to. The wealthy elites have to at least beat the high inflation every year to preserve their wealth, and the Fed will make sure to accommodate them by giving them free money and pumping the markets.
The general public only sees the interim ups and downs between January and December. But these market fluctuations are completely irrelevant. There will always be more up days than down every year. Regardless of the crumbling world economies.
The Fed will keep pumping markets until one day, it doesn't work anymore. Jobs will be completely gone, houses will be unaffordable, riots in the streets, and the markets will hit the highest of all time highs.
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1184
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: July 29, 2021, 02:16:16 PM
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It bugs me to see crybabies whining about MtGox.  If you were around for MtGox, 7.5 years ago, you have no excuse for not being rich now. Sure I lost 50 coins at MtGox. It was my own fault for keeping that much anywhere except offline in secure paper wallet cold storage. Sure I could whine about trying to get my coins out for almost half a year while they made excuses about needing identification even though my account was created anonymously. I could whine about their lying and ignoring tickets. Ultimately it was my own fault for having any coins at an online exchange. I got played for being a sucker/trader. The important thing is to learn from your mistakes. I stopped exposing my coins to the internet unnecessarily. I bought and sold only from ATMs and OTC. Eventually I built a network of OTC contacts. It's been years now since I've had to use an ATM. The important thing is to be patient and only sell when you absolutely must. If you need to pay a bill, so be it. When you achieve certain goals, enjoy a little. In January 2018 I sold a little on the "dead cat bounce" at about $21kCAD per coin and bought deluxe dental implants and property in Mexico. This year I was lucky to sell some at the ATH and buy a lake. My entire stash cost me less than a new car and most of it was bought post-MtGox. Spare me the crybaby whining please. I too will admit that I lost a non-trivial amount of coins at an exchange in the early days. I won't name the exchange, but it wasn't Mt. Gox. Did I whine or cry? No. My own stupid fault for trusting them. I learned, and moved on. Not your keys, not your coins. |
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1185
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: July 27, 2021, 02:02:33 PM
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And if someone thinks the integration of Bitcoin is a nothing burger, think this. When someone wants to buy with credit cards some items, there are numerous limitations by the card issuers. There is a day limit, a week limit, a monthly limit, and other obstacles which prevent the users from buying more items. Imagine the hassle of someone buying goods for $10K+ going to many banks, transferring money to multiple cards with limits like $2-3K and so on. I personally, would have bought 10x more items on amazon if I had the option to use bitcoin. When I had to buy for a short time many gpus, I used 2 credit cards. It seemed transactions were made, but then I received a message they were denied. Some limits activated and I couldn't unblock the cards for weeks. Finally, I had to make calls to my card issuer, explain the situation, call amazon support, until the items were canceled and the money refunded. And this happens all the time with new variations like the laughable 3d secure thing.
I can sympathize with all the hassles you list of using fiat/credit to purchase things. But until I, and all other Americans, can purchase bitcoin with 0% fees, and can make purchases to any merchant without triggering a taxable event, then having integration of Bitcoin into online merchants does absolutely nothing for us. Period. Using fiat is not only easier, but logically is preferred. I still don't understand why bitcoiners don't get this. Even normies and nocoiners get it. |
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1186
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: July 26, 2021, 09:46:53 PM
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Unpopular opinion:
1. Large well known companies buying and holding large amounts of bitcoin is bullish news. (because it eventually raises the price by taking btc off the market)
2. Large well known companies announcing they will accept bitcoin for goods/services is... well, not really bullish. (because it doesn't actually do that)
Some would say "Well #2 adds to bitcoin's legitimacy in the public's eye." Nations are now making it a legal currency. Tesla bought $1B worth. JP Morgan trades it and says clients can buy it. We have already achieved "legitimacy".
Wake me up when Bezos, Gates, Dimon, and Buffett say they bought several billion worth of bitcoin. Then I might actually get excited.
Until then...zzzzzz.
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1191
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: July 08, 2021, 04:59:16 PM
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If miners are making profit, why will they turn off their equipment? If someone else turns off theirs, others will keep their own turned on, if possible.
Hashrate rose to chase the run up in price by the whale traders using 100X leverage. At ~$60K they were still profitable, but then the sudden crash to ~$30K and they weren't anymore. Exit the China 100X leverage momentum trade. So hashrate had to fall in order for mining to become profitable again. It's going to be roughly the same for both large scale and smaller miners. The miners turned their equipment off to reduce the risk to them of their hardware getting confiscated or getting discovered. One does not "lower" the difficulty all by themselves.
O rly? According to whom? Who told you that, the MSM? Lol  |
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1192
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: July 08, 2021, 04:10:05 PM
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I see miners doing fine as price and difficulty are in synch.
when you look at the numbers.
25.05 diff with 64k price
14.36 diff with 34k price
12.95 diff with 31k price. seems to be happening.
all generate the same or close to the same in cash value.
They are perfect for a chip short builder that has a large farm outside of China.
This trend will not go away until the fall.
Until bitmain and other builders get a lot of chips.
Nothing in the last eight weeks goes against this guess of mine.
So this time is different simply check the 2018 hashrate and difficulty rise while price dropped.
this time in 2021 hashrate and difficulty drop while price dropped.
I never bought the bullshit MSM narrative that "Chinese miners are getting kicked out of China due to govt crackdown." That is total bullshit. They didn't go anywhere. They simply turned off part of their mining hash power to bring mining difficulty in line with lower price to maintain profit. This is temporary. They will eventually turn it back on. |
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1193
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: July 05, 2021, 07:24:25 PM
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20 Things I've Learned (Or Had Confirmed) About Humanity During The 'Pandemic' (THREAD):
1/ Most people would rather be in the majority, than be right.
2/ At least 20% of the population has strong authoritarian tendencies, which will emerge under the right conditions.
3/ Fear of death is only rivalled by the fear of social disapproval. The latter could be stronger.
4/ Propaganda is just as effective in the modern day as it was 100 years ago. Access to limitless information has not made the average person any wiser.
5/ Anything and everything can and will be politicised by the media, government, and those who trust them.
6/ Many politicians and large corporations will gladly sacrifice human lives if it is conducive to their political and financial aspirations.
7/ Most people believe the government acts in the best interests of the people. Even many who are vocal critics of the government.
8/ Once they have made up their mind, most people would rather to commit to being wrong, than admit they were wrong.
9/ Humans can be trained and conditioned quickly and relatively easily to significantly alter their behaviours - for better or worse.
10/ When sufficiently frightened, most people will not only accept authoritarianism, but demand it.
11/ People who are dismissed as 'conspiracy theorists' are often well researched and simply ahead of the mainstream narrative.
12/ Most people value safety and security more than freedom and liberty, even if said 'safety' is merely an illusion.
13/ Hedonic adaptation occurs in both directions, and once inertia sets in, it is difficult to get people back to 'normal'.
14/ A significant % of people thoroughly enjoy being subjugated.
15/ 'The Science' has evolved into a secular pseudo-religion for millions of people in the West. This religion has little to do with science itself.
16/ Most people care more about looking like they are doing the right thing, rather than actually doing the right thing.
17/ Politics, the media, science, and the healthcare industries are all corrupt, to varying degrees. Scientists and doctors can be bought as easily as politicians.
18/ If you make people comfortable enough, they will not revolt. You can keep millions docile as you strip their rights, by giving them money, food, and entertainment.
19/ Modern people are overly complacent and lack vigilance when it comes to defending their own freedoms from government overreach.
20/ It's easier to fool a person than to convince them that they have been fooled.
Bonus thought:
21/ Most people are fairly compassionate and have good intentions (this is good) Here's hoping "21/" can carry the rest (1-20), with the help from Bitcoin we might just pull it off (I'm a sucker for happy endings). 2/ it's much more than 20% And 2/ tends to sit well with the far left and the far right. I know plenty in both of those camps. They have strong wish to control people and to be the "boss" Whether they are waving a rainbow flag or a USA flag or a BLM flag or a BlueLM flag. Plus the fucking media loves the turn the pot. If only people could step back from the extreme and meet at the middle, but ah that's a different world then this one. Thus the reason why Libertarian-ism, the most sane and logical compromise of all the political & social positions, has been stomped right into the ground and left for dead. Good job, Deep State. |
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1194
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: July 01, 2021, 02:05:02 PM
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OK. What the hell? I really like Tradingview, and there are some gems of shadetree analysis on there. Some really interesting ideas and insights. But WHY, WHY, WHY does ANYONE think shit like this is useful at all? This guy is one of the top follows on there. What the heck is wrong with people? He needs to come sit under the zen feet of Toxic for a while and learn about ducks diving for salamanders and things like that.  I feel for people like this. If they keep going like this, they'll eventually have a complete psychotic breakdown. I have images of this person being rolled out on a gurney in a straightjacket in ten years. |
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1195
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 29, 2021, 02:20:33 AM
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Have people on the internet lost all capability to think rationally? I keep reading shit like "The hash rate has dropped significantly, so yeah all Chinese mining has stopped. Miners---they're leaving China." No, idiot. It could also mean that mining machines in China were just intentionally turned off. Which also implies that they can just as easily be turned back on. In that scenario, you wouldn't know the difference, nor would you be able to confirm or deny.  |
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1196
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 28, 2021, 11:43:08 PM
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And the night begins to make things clearer
'cause the fire in the sky is burning us alive
There's a man on the street
With no shoes and no food to eat
While the man in the banker's suit is promoted higher
Here we go again with the war
Dollar drops oil prices soar
It's all part of their fucked up plan
Take cover
'cause the world is on fire
Full of greed and desire
We're living in denial
While the world is on fire
From the watch tower
I see a child's hope fading
In the name of their god
They even kill their own babies
From the Book we read
From the pages we bled
'cause the man in the religious suit
Is a paid liar
Here we go again with the war
Dollar drops oil prices soar
It's all part of their fucked up plan
Take cover
'cause the world is on fire
Full of greed and desire
We're living in denial
While the world is on fire
The truth shall set you free
But the man in the business suit is sworn
To hide it from thee
It's all about money
It's all about power
From the beginning of the age
Slavery's been all the rage
The world is on fire
World On Fire
--Barbed Wire Dolls
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1198
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 27, 2021, 09:49:28 PM
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Alright, I see everyone here supporting Bitcoin till their death. I also love Bitcoin alot however what's wrong if someone sell their Bitcoin just to buy more in the dip?
Like I have seen people selling their Bitcoin at 50k just to buy at 28k converting it from 1 BTC to almost 1.8 BTC without spending a single buck.
For those in the U.S., there has to be a net 30%+ between your sell and your re-buy, or it's not even worth it. Because taxes. And good luck timing that perfectly. Better to just buy and hold long term, and DCA. |
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1199
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 27, 2021, 09:41:48 PM
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So not to sound bearish (I'm forever a permabull ya'know), but with the hash rate retarget (back to 6/2020 levels) looming, I'm guessing bear whales are going to be FUDing and gunning for a massive "scare the absolute shit out of the n00bs and make them puke their guts out" big dump moment. If it happens, I'm sure it'll look scary, like a big capitulation, but we all know it will eventually recover. For those want to add to their long positions, it'll be a gift from the Bitcoin godz. The MSM will of course have a field day with the news. I expect to see the word "Plunge" in a lot of Bitcoin headlines. What do you guys think? #HODLERSUNAFFECTED |
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1200
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 24, 2021, 12:39:45 AM
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,...... Clever and crazy at the same time. Incredible character.
RIP JOHN.
Not to shit on the dead, but he was seriously deranged. Google the story about his hammock and girls from Belize. Not to mention... A habitual liar and scammer A coke addict A booze addict A possible crack addict A weird sex addict A sufferer of hyper paranoid delusions And most definitely a murderer (killed his neighbor for "allegedly" poisoning his dogs) |
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