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1422
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: February 13, 2021, 12:13:58 AM
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Really? Sounds like she has no idea what she’s talking about to me.. r/Woosh r/explainthejoke She was able to put so much emotion into her explanation. at the end she knows it was really bad but decided to put it online anyways.  OMG, you guys are hopeless. 1. She's an actress 2. She did this monologue as a joke. Like SNL. 3. You apparently did not get the joke Is it an American humor thing? I dunno. |
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1425
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: February 12, 2021, 07:02:38 PM
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This all makes sense, as long there are no major Bitcoin ETFs.
When major and prominent Bitcoin ETFs become a thing, they will likely blow a hole in the typical halving/bull-bear cycles of Bitcoin, as price will rise suddenly and dramatically in a hockey stick fashion, and then the curve will flatten out. Which will completely obscure any past price discovery mechanism of bitcoin through a supply/demand model, as prices will likely be orders of magnitude higher than typical due to Wall Street's extreme margin fueled over-leveraging. Bitcoin mining hashrate will possibly lag for years and years behind this event as mega miners struggle to get new hardware online.
That's why it's so critical for today's Average Joe to get in before Bitcoin ETFs begin to rule the day. Once this event passes, all bets are off and God knows who will be controlling the price of bitcoin beyond that point.
But ETFs follow the price and do not dictate the price. The price will only go up because the fund manager is forced to "physically" acquire more of the underlying, as in, to actually get the bitcoins, either from OTC or from exchanges, or they have some sort of connection with the big custodial ones that service institutions (Gemini, Grayscale, Coinbase are some examples). It would also be a danger to the ETF fund manager / owner, to rehypothecate. They would need to show the BTC somehow, either through a regulated custodial entity, or if they self-custody, some sort of proof perhaps showing the address or the balance, or at least telling the world how many bitcoins they have. Sure, this might be the case in the beginning, but surely Dabs you are not so naive as to think it will stay that way for very long? As happened with the PMs not long after PM ETFs became a thing, there eventually will be relaxed rules around the underlying Bitcoin asset, eventually relaxed reserve rules and lack of audits/transparency, then re-hypothecation, phantom shares, over-leveraged naked shorting, etc., etc. And the SEC will turn a blind eye to all of it. It will all happen to Bitcoin too eventually, guaranteed. It's not a matter of if, only a matter of when. |
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1426
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: February 12, 2021, 06:33:42 PM
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It’s February..
Pump season doesn’t end till like December-January..
Still just the beginning..
I listened to a few podcasts with PlanB and Willy Woo, and they both agreed pump season lasts about 18 months after the most recent halving, noting that there have only been two previous halvings. By their estimate, December 2021 might be a good ending. He did note, that is all based on on-chain data, so show him any 1 month block of data, without prices, and he can tell you what he thinks if it's bull season or bear season, all without looking at the price.. interesting times. They also talk about super-cycles, and this would be the first ever. It's quite possible we don't really see any "cycles" attached to halvings anymore, although for sure there would still be an effect of those as the supply that comes into the market gets cut in half on the next halving. I'm tending to believe what Saylor said, that eventually, 200% annual appreciation would go down to 150% after a few years, then to 100%, then to 50%; but we will all get to see $500k and $1m, and from there it goes on slowly to $10m or higher. This all makes sense, as long there are no major Bitcoin ETFs. When major and prominent Bitcoin ETFs become a thing, they will likely blow a hole in the typical halving/bull-bear cycles of Bitcoin, as price will rise suddenly and dramatically in a hockey stick fashion, and then the curve will flatten out. Which will completely obscure any past price discovery mechanism of bitcoin through a supply/demand model, as prices will likely be orders of magnitude higher than typical due to Wall Street's extreme margin fueled over-leveraging. Bitcoin mining hashrate will possibly lag for years and years behind this event as mega miners struggle to get new hardware online. That's why it's so critical for today's Average Joe to get in before Bitcoin ETFs begin to rule the day. Once this event passes, all bets are off and God knows who will be controlling the price of bitcoin beyond that point. |
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1427
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: February 12, 2021, 03:03:22 PM
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This Rubini guy is a professor, right? It just defies belief that he is frantically asking like a madman "What's the purpose of Bitcoin? Where does it help us?"... It's just mind boggling. Hasn't he even bothered to read the books by Antonopoulos and Ammous? I would understand if it was my grandma saying this nonsense, but him? A university professor and economist? Man, this is some crazy shit.
Economists are people too. I mean, Paul Krugman even got a Nobel Prize in Economics and yet... said some pretty stupid shit. The problem folks like Paul Krugman and others have with Bitcoin.. is that it is based 100% on faith in the system/blockchain of Bitcoin..ie the mechanism...the strength of Bitcoin and why it is the disruptor of their conventional thinking has done so well and quite frankly weirds them out is that ..again... the success
of Bitcoin is it is based 100% on faith. They can't see humans as having anything 100% faith in without failure...but all great things start with 100% faithfrom love to democracy to walking on the moon. The trick is to have the 'faith' last until it is common and accepted as the next step...from faith to truth. Tis' damn hard to 'stop' or 'spin' faith ..especially in a decentralized and trustless manner....this is the basis of democracy itself... so it is both...decentralization plus faith in the process is more a movement than an 'economic' engine...they will never get their head around this. This is confusing as hell to me...so it must really be driving folks like Paul Krugman nuts.....but then again....faith in any decentralized idea be it democracy or bitcoin..is always the outlier...till it ain't...  They better get used to it however....it is how Bitcoin rolls... brad This is exactly it in a nutshell. Once an asset has the attributes/properties that are desirable as a form of money, the rest of it's value is all derived from faith. I often use the example of precious metals, because idiots like Rubini and Schiff always want to bring up gold and how it has been used for thousands of years as money, it has "intrinsic value", blah blah blah. But what about thousands of years ago, when the first 1-100 people that first discovered gold, picked up gold rocks off the ground, and decided to start bartering with them? Why did they even start doing that? Answer: Faith in the metal as money/SOV. Why did that group then grow from 100 to 1000, then 10,000, then 100,000? Answer: Faith in the metal as money/SOV. It wasn't the "intrinsic value" of gold and silver that caused their monetary value to rise, it was 100% pure faith from humans that PMs were a good form of money. And they went from exactly zero value to the value we give them today. So it's not the "thing itself" that gives it value as money/SOV, it's the people using it. It's a faith-based mutual agreement amongst the users. |
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1428
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: February 12, 2021, 12:36:24 AM
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The newspaper comments sections are not for readers to give their opinions. The comments section is for media to evaluate how well their propaganda has been assimilated. So comments will be what they've been fed over and over. So they repeat ponzi scheme, fraud, scam, you lose all your money, its used for crime, drugs, CP, tax evasion, money laundering, its not regulated, its not backed up by anything (like gold). The same people also are completely ignorant of how the debt based currency systems work. To my knowledge it is not taught in schools. I like you story of the Germans storming the train station but with tickets.
This is very true, but... Most people don't realize that comments sections have been taken over by numerous fake media sockpuppet accounts with social agendas. Hence the articles about Bitcoin have commentary that leans extremely negative, with same exact talking points as the media. |
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1429
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: February 11, 2021, 10:29:44 PM
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Bitcoin Haters:20k it won’t make all-time high 30k bitcoin is a bubble 40k bitcoin is a lottery ticket 50k bitcoin will crash soon 60k bitcoin is like tulips 70k bitcoin is going to zero 80k bitcoin can’t go higher 90k I'm done tryna convince you nutjobs ... ... ... ... ... 400k Sign up for my bitcoin newsletter where I’ll show you how to buy 
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1431
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: February 11, 2021, 06:29:51 PM
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Does anyone have the list of WO members that need to be woken up at 50K?
...
BobLawblaw
Not selling at $50k. Decided we don't have any reason to, even on principle. Rick and I both have enough fiat set aside to last us comfortably for the rest of our unnatural lives. Decided we're going to sell another mil when we're ready to start building on the ranch. The weather turned to shit overnight, so I suspect that's going to delay the engineering survey for possibly two weeks, but we are remaining patient, and not in a hurry to get the deal done. Due diligence on a land deal the size we are considering is nontrivial. The agent repping us even commented "I've never worked on a deal this large for personal use" Reminds me of my 70+ acre land deal a few years back. The look on my agent's face when he said, "You mean you're gonna...pay cash for the whole thing?" And thank the gods I got the house built when I did...lumber prices are now through the roof. |
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1433
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: February 09, 2021, 09:19:07 PM
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Some of these guys got the game all wrong.
I borrowed $10K at 0% interest to live on/pay expenses this year, instead of selling btc when it was @~7k.
Don't have to pay it back until May 2021.
Now btc is ~$15k.
#winningbigly
Borrow cheap credit to live, let your bitcoin ride. This is what the wealthy elite do.
Just an update on this. Observing current btc price of ~$47k. Can't wait to see what the price is when I have to sell to pay this $10k loan back in May July. *I thought May, it's actually July#btcprofitbaby #winningbigly |
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1440
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: February 07, 2021, 02:51:20 PM
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Why not selling for FIAT? Why do all the stocks, real estate, land, commodities etc. increase in price? It's not because their value is increasing all the time. But the value of FIAT is decreasing all the time therefore the price of the others in FIAT is increasing. think about it.
This is exactly correct. Anything going up in price is really just retaining it's value and outrunning inflation vs. the continual debasement of fiat currency. The trick is to find the deflationary asset that is accelerating in value faster than/relative to the other deflationary assets over long time frames. Bitcoin is currently that asset. Hands down, it has trounced every other asset in price appreciation over the last decade. So why would I trade the fastest horse in the race, for a slower-but-still-fast horse? And why would I ever trade the fastest horse for the sad, retarded horse that broke both its front legs right out of the gate? (FIAT) |
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