Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[realr0ach]

Whats happening?

The cost of production is $3k, exchange rate is $11k.  Miners then rush to dump as fast as possible until those numbers are much closer together.  Any other questions?  Maybe who created communism?

[1675197505]

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[Biro Bob]

I now understand where my initial 100 points and 6 sMerits came from. The 100 was based on the minimum level to achieve my current rank (full member) . The sMerits are based on my 5 year membership and low post count in the last 12 months.

- to rank up to senior I need 240 activity and 250 merits.

I imagine there are some Hero members here who Were just a few posts away from Legendary who now find they need to find 500 merits to rank up. Ouch! So.. show some love to your poor Hero members who add quality to the forum. (Sorry..  Roach, this doesn’t include you.)

In addition to activity, everyone now has a merit score, and you need both a certain activity level and a certain merit score in order to reach higher member ranks. The required scores are:

Rank	Required activity	Required merit
Brand new	0	0
Newbie	1	0
Jr Member	30	0
Member	60	10
Full Member	120	100
Sr. Member	240	250
Hero Member	480	500
Legendary	Random in the range 775-1030	1000

You get merit points when someone sends you some for one of your posts. Additionally, when someone sends you merit points, half of those points can be sent by you to other people.

Certain users are designated as "merit sources". They can create new merit out of nothing, up to a limited number per month (which differs per source). I will not be posting a definitive list of merit sources (so that people don't bug them too much), though you'll soon figure out who they are if you pay attention.

There is currently no such thing as a "demerit". I'm hoping that the positive merits alone will be fine. I could add demerits pretty easily later on if necessary, though.

I'm hoping that this system will increase post quality by:
 - Forcing people to post high-quality stuff in order to rank up. If you just post garbage, you will never get even 1 merit point, and you will therefore never be able to put links in your signature, etc.
 - Highlighting good posts with the "Merited by" line.

While we will not be directly moderating this, I encourage people to give merit to posts that are objectively high-quality, not just posts that you agree with.

Do not beg for merit excessively.

The forum ranking system is a bit complicated now... It'd be nice if someone made an infographic explaining activity and merit.

If you want to be a merit source:

 1. Be a somewhat established member.
 2. Collect TEN posts written in the last couple of months that have not received nearly enough merit for how good they are, and post quotes for them all in a new Meta thread.
 3. We will take a look at your history and maybe make you a source.

I am especially eager to have merit sources in sub-communities such as the local sections.

Trivia:

For current members, your initial merit score is equal to the minimum required to your rank. Of that, a certain amount (less than the usual half) is spendable. The spendable amount was calculated based on your current rank and the number of activity points you earned in the last year. A Legendary member who hasn't posted in the last year would still be Legendary, but would not have any spendable merit.

If someone sends you 1 merit, the 0.5 sMerit is not wasted; it is just not shown until you get another merit point.

There are stats here, and you can find someone's merit summary by clicking the "merit" link on their profile.

[ivomm]

Why all filthy rich guys are selling hundreds and thousands of BTC at that price? What are they thinking - the end of the world? Or early retirement? What if by the end of the year BTC hits 50K or even 100K $ and they realize how richer they could have been if only waited for several more months? But no, why have 100 mln in several months, while I can have 2-3 mln and retire now. Pathetic  

[Lopumbo]

What if by the end of the year BTC hits 50K or even 100K $

[explorer]

Why all filthy rich guys are selling hundreds and thousands of BTC at that price? What are they thinking - the end of the world? Or early retirement? What if by the end of the year BTC hits 50K or even 100K $ and they realize how richer they could have been if only waited for several more months? But no, why have 100 mln in several months, while I can have 2-3 mln and retire now. Pathetic  

The only reasonable way to do that is to have several million now, and 100 million in several months, as well.  Not to mention an obscene amount of money beyond that.  Nobody is dumping everything for 1/2 of a retirement fund.

[Asrael999]

Whats happening?

Futures day, we can expect continuous price manipulation at futures close as long as we have these bullshit contracts

[El duderino_]

Why all filthy rich guys are selling hundreds and thousands of BTC at that price? What are they thinking - the end of the world? Or early retirement? What if by the end of the year BTC hits 50K or even 100K $ and they realize how richer they could have been if only waited for several more months? But no, why have 100 mln in several months, while I can have 2-3 mln and retire now. Pathetic  

I’ll Wait for the bigger number of mln’s ;-)

[TERA2]

Some of them want to retire. Some of them made it big in altcoins, like me, and never intended to keep all of their net worth invested in btc. Some have to pay bills. Some have to pay 50% TAXES. Some of them want to make other investments during the bear market. Some of them are getting margin calls. That guy with 500btc only had 100btc worth on the exchange, and he mortgaged his house to get that.

[Biro Bob]

Why all filthy rich guys are selling hundreds and thousands of BTC at that price? What are they thinking - the end of the world? Or early retirement? What if by the end of the year BTC hits 50K or even 100K $ and they realize how richer they could have been if only waited for several more months? But no, why have 100 mln in several months, while I can have 2-3 mln and retire now. Pathetic  

I don’t think this has anything to do with direct profit and cashing out. Some players would prefer Bitcoin to go away (ie. banks, tptb etc..) as such, they want to cause maximum FUD to keep the vast majority of the public away.... and burn the newcomers so they panic sell and stay away after losing their shirts.

They know they can’t do it indefinitely, but they can postpone Bitcoin from rising and becoming super popular  temporarily... which is good enough for them.

The genuine Bitcoiners can’t be shaken by these distractions and probably aren’t cashing out more than spending money at these prices.

[Wekkel]

 temporarily...

I think this is the key word. As long as Bitcoin has traits that no traditional (fiat) currency can match, its rise is not over yet but has only just begun. Especially in a financial environment that knows rampant fiat ‘printing’ and speculation.

[jojo69]

I imagine there are some Hero members here who Were just a few posts away from Legendary who now find they need to find 500 merits to rank up. Ouch! So.. show some love to your poor Hero members who add quality to the forum. (Sorry..  Roach, this doesn’t include you.)

now this is a post I can get behind

[svdleer]

Guess it's bloody friday again. All coins and Alts are down

[starmman]

I imagine there are some Hero members here who Were just a few posts away from Legendary who now find they need to find 500 merits to rank up. Ouch! So.. show some love to your poor Hero members who add quality to the forum. (Sorry..  Roach, this doesn’t include you.)

now this is a post I can get behind

Haha, yeah - just hit the 'potential legendary zone' in the last couple of weeks - I guess it makes it more of a challenge LOL

[josephpogi]

Japan: Coincheck Exchange Freezes All Withdrawals As Up To $723 Mln Leaves Its Wallet
https://cointelegraph.com/news/japan-coincheck-exchange-freezes-all-withdrawals-as-up-to-723-mln-leaves-its-wallet

Another bad news.

[Biro Bob]

Japan: Coincheck Exchange Freezes All Withdrawals As Up To $723 Mln Leaves Its Wallet
https://cointelegraph.com/news/japan-coincheck-exchange-freezes-all-withdrawals-as-up-to-723-mln-leaves-its-wallet

Another bad news.

Fortunately not Bitcoin. It was XRP and NEM.

[jojo69]

Japan: Coincheck Exchange Freezes All Withdrawals As Up To $723 Mln Leaves Its Wallet
https://cointelegraph.com/news/japan-coincheck-exchange-freezes-all-withdrawals-as-up-to-723-mln-leaves-its-wallet

Another bad news.

hooo boy

here we go again

[serveria.com]

The last micro-dip before the moon? The launchpad is ready?

[adaseb]

Japan: Coincheck Exchange Freezes All Withdrawals As Up To $723 Mln Leaves Its Wallet
https://cointelegraph.com/news/japan-coincheck-exchange-freezes-all-withdrawals-as-up-to-723-mln-leaves-its-wallet

Another bad news.

Been a while since we had these.

What was the last exchange hack?

I am thinking Bitfinex but I am pretty sure another exchange was recently hacked but can't remember which ...

[El duderino_]

The last micro-dip before the moon? The launchpad is ready?

Mmmm would be good the unstoppable up move

[posi]

Guess it's bloody friday again. All coins and Alts are down

That's Friday for you mate and it because the coin market cap will be close for the weekend but how strong bitcoin and other altcoin could resist the dip will determine how bullish the crypto market will be next week.