We have a real battle for the close of the daily candle. Are the Bull or the Bears going to take it home this weekend? Look at this beautiful fractal butterfly.  |
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I think we're gonna reverse from here. Bottoming, RSI showing oversold on the 6h and 12h.
But of course the whales are gonna try and punish anyone opening a long here.
I was just posting this.  Its important to look at various indicators to get confirmation of your prognostications. If you discount the upward curl of raising volume and just focus on the MACD you can see a crossing that might indicate bearishness. Looking at the additional data of the stochastic RSI you can see we appear close to a local bottom. Its also critical that you change your perspective(time frame) when looking at a chart often so as to see if your narrative has continuity. |
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The market has reacted favorably imho to the open market selling by the MtGox trustee. Bitcoin has absorbed the selloffs with remarkable strength. Looks like things are headed towards a normal weekend of volatility for Bitcoin.  |
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 Double dipping. #btfd |
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Ok Wall Observer's participants...I have a question for you. I came up with this idea last night and am in the process of implementing it. I have had a general go ahead from tptb to ask what you ..the WO think about it.
As many of you are aware Wall Street has many analytical firms out there that just monitor market sentiment. I thought it would be nice to have one for Bitcoin as well and so came up with the Wall Observer Bull/Bearish Index or WOBBI for short. This index would be comprised of FA, TA, Polling, AI sentiment analysis and proprietary algorithms to generate a daily(hourly, anytime you ping it?) index.
What I am wondering is this a good idea? Would it be something you supported? Do you think this would be positive or a negative for the forum in general and this thread in particular? Would you want to help develop or contribute in some way to this idea?
Discuss please.
Thank you.
tc
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Market is undecided but there is evidence of a divergence either way. Fat fingers is not helping matters with open market dumps but hey..more cheap corn.  On the hourly.  Possible support  |
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oh and Binance got hacked a bit
oh and BitMEX down
+1 WOsMerit |
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Everyone bought the dip right?  |
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This was not unexpected...relax. There is nothing to worry about if you are a hodler. This is just a corrective wave(whales splashing the pool) and taking of profits. Short term it can be interpreted as bearish but I believe it will not last long. #btfd  |
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This conversation is getting further and further into the ungrounded speculations... I say whoaza to all of it... daily users = peeps who have held or used $1k of bitcoin over the past year - 14 million peeps recently fomoed - perhaps only $100 of bitcoin or more in the past year - 45-70 million peeps (that is just amazing speculation to assert) total number "exposed" whatever that means (they heard about bitcoin - 700 million peeps .... OMG... you are grasping, and who cares about the 700 million who heard about bitcoin, they have not yet acted in any kind of material way, and if you really ask them to describe bitcoin, they have more than a 95% chance of getting it wrong in a large way and not having any kind of clue about how to get started or even having any motivation to get started. I will agree with you that it is going to be amazing to get these 10% to onboard, but good luck accomplishing that in the next 5 years. Can you provide a source for 14 million daily users? Was that on the FoMO peak day?
I believe that Toxic really did justice to "toxic" this time, and perhaps it was hallucinogenic mushrooms? Did I miss the speculation part of this thread? That is what we are doing is it not? I am just extrapolating data as I see it JJG. I am far from a expert so you cant take it for what it is. As of last year however there were up to 5.8 million unique bitcoin addresses...so I guess the numbers are off if you think all the normies have full nodes. I highly doubt it myself, most dont even know what a node is. I would say most keep their corns insecurely on exchanges or phone apps. What do you think the adoption rate has been over the last few months? I feel like its increasing dramatically..people I havent talked to in ages are calling and asking about bitcoin. My sister for crying out loud called me not a week ago and asked if I could help her understand bitcoin. WAKE THE FUCK UP! Here is a study Cambridge University did last year, so I cant confirm its veracity. How ever it does have some interesting data that I qouted above. I am purely speculating when I say 14 million but when dealing with exponential increases by the time you realize it is upon you its already happened. https://web.archive.org/web/20170410130007/https://www.jbs.cam.ac.uk/fileadmin/user_upload/research/centres/alternative-finance/downloads/2017-global-cryptocurrency-benchmarking-study.pdfAnyway..back to my cave.  |
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14 million is the amount claimed by coinbase... Is that accurate? So wouldn't the world's useage be double or triple that?
We are not getting to the 70 million arena (which would be close to 1%) merely based on extrapolations from coinbase's supposed user base, are we?
Actual daily users.. 14 mio People who fomo'd recently and long term hodlers who dont use bitcoin daily. 45-70 mio about .5%-1% Total number of people exposed to bitcoin and crypto this last hype cycle. 700 mio or about 10% of the planet. As with any exponential increase its almost impossible to really grasp hold of whats really going on even if its right in front of your eyes. The human mind just can not visualize those kinds of numbers. You have to trust in mathematics. The jump from where we are at 14 million..or 70 million(which I feel is probably more accurate) to 700 million is going to blow our minds. |
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+5 WOsMerits Ya..I ment to drop some of that dudes ch-arts in here..refreshing. Except because 14 million is more or less the number of users coinbase alone have. Granted it is probably the one with the biggest userbase thoug.
I am talking actual users..not zombie accounts. I subtracted that factor of 20 from it after someone suggested I was off in my calculation of broad money. I thought I had posted that back of the napkin calc in this thread sometime ago.. What do you believe would be a good threshold level determine, "adoption"? I had suggested anyone holding or spending at least $100 within the past year or something like that. I was thinking more along the lines of $1000 usd per annum. This is $2.73972602739726usd a day. Probably reasonable for a basic user. Total crypto market cap - $460,981,764,628/14,000,000=$32927.268902 Bitcoin market cap - $192,042,420,739/14,000,000=$ 13717.31576707143 It always amazes me when you start crunching the numbers and correlation occurs...its why I love math I suppose. I find it odd that the number I have in bold is remarkably similar to what our price is atm. I ran into this same fractal when doing the percentages to broad money. Where I was doing each halving the price mirrored the actual price of bitcoin at that time. |
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Except because 14 million is more or less the number of users coinbase alone have. Granted it is probably the one with the biggest userbase thoug.
I am talking actual users..not zombie accounts. I subtracted that factor of 20 from it after someone suggested I was off in my calculation of broad money. I thought I had posted that back of the napkin calc in this thread sometime ago.. |
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 Just a little hypothesis I am playing around with. Its the ol' 1,2,3,4,1,2,3,BOOM maneuver. 1% adoption of bitcoin is 100% of what I expected in a good scenario. Most national currencies are used by less than 1% of the world. The idea of a whole world that uses bitcoin is a fantasy.
No back sliding! You were doing so good.  Ok.... .so where are we currently? Let's say anyone that uses, used, holds or has held more than $100 in bitcoin (or crypto for that matter) in the last year would count as an "adopter"... are we at .2% or .5% or something approaching 1%, currently?
"... are we at .2% or .5%." 0.390625%=$18620.3849896875 < We are around here. Not even .4% Bingo..I calculated around .4%..but was informed I was off by a factor of 20 so that would take us down to .002%. Dividing that by 7 billion leaves us with about 14 million users. Which to me sounds pretty damn close. |
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ffs..18 posts..I cant keep up. OK, so sideways for a while then?
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Thought experiment. Two tribes, the northern herders and the southern herders. The northern herders, the collectivists, agree to live according to the common good, such that no man would starve in time of plenty. The southern herders, the individualists, agree to live according to individual rights. A man may go hungry in the south, but all community action is voluntary on principle. Is there any sensible way in which one tribe can be called more moral than the other? Is there some metamorality by which we can make sense of this?
Where you stand says much about what you see, that does not mean there are not universal indicators of decency. Letting someone starve where ever it might be, in my opinion is amoral and frowned upon by society...be it north or south. Isn't that more fairness than moral. There is two "types" of fairness with fancy names that I don't remember right now.
Examples:
Mother asks children A and B to mow the lawn. A can't be bothered, he plays video games instead, B mows the lawn. At tea time only child B gets a piece of the pudding, A gets mad and says "that's not fair" mother replies that B mowed the lawn so it's only fair that he gets pudding and A do not.
Mother asks children A and B to mow the lawn. A can't be bothered, he plays video games instead, B mows the lawn. At tea time both children get's an equal piece of the pudding, B gets mad and says "that's not fair, I mowed the lawn", mother replies that it's unfair not to give both her children the same amount of pudding.
Both are valid examples of fairness, the right tend to lean towards the first example and the left towards the second.
This is exactly a moral issue, the parent should have had enough sense to provide a task suitable for each child to accomplish so they each felt they had earned a reward. Getting back to the metamorality issue..I can only speak for myself but every time..and I mean every time I have done something "wrong" in my life, it felt wrong. Now whether I chose to ignore that "feeling" and continued with my actions or drew myself up short is anther thing entirely. I believe each has that compass inside of us and it is just a matter of developing it to become a better human being. Empathy goes along way in building up the metamorality tool that each of us possess. |
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US constitution has been hardforked how many times?
I want US Classic. Not these amended altcoin constitutions.
27 times..the first 10 of these being the Bill of Rights..but to keep the analogy going..these are consensus based soft forks that required a majority vote to implement. |
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Where did you learn to use the verbs pumping and dumping like that? Prices don't pump and dump themselves. A second/third person/people has to pump and dump the price. Who is the subject?
Yay! Terabull is back. ....thats kinda catchy. :/ your welcome whoever for the freebee. |
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