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

[Ludwig Von]

I really have absolutely no fucking idea what the price is gonna do next.

It's easy.

Micgoossens = dumb money
JayJuanGee = stupid money
Elwar = insane money

Just do the opposite of whatever they're doing.

and whats roach money ? if there is any

no money

But he eats a gold sandwich and drinks a cup of molten silver every morning... . Fundamentals! 

[1618758981]

1618758981

[1618758981]

1618758981

[JayJuanGee]

[author=JayJuanGee link=topic=178336.msg48631297#msg48631297 date=1544653506]  

Q to WO crowd: do you think that bitcoin does (or doesn't) have some futures fighting mitigation strategy?

Yes.  

You need to understand the distinction between absolute scarcity and relative scarcity.   https://sfugeog322.wordpress.com/2012/01/19/absolute-and-relative-scarcity/

None of the other commodities which are controlled by the futures market have absolute scarcity.  Gold can easily be mined, pigs can be bred, marginal cropping land can grow more corn.

Many of us, including many on this wall, are now dedicated to slowly, gently buying physical all the way down, no matter how deep it goes or for how long. Holders of last resort will create conditions of absolute scarcity.  

The reality is that the poor performance of gold and silver markets is a reflection of poor organic demand for precious metals, combined with elastic supply.  People like Roach blow this up into a global conspiracy so that they can avoid taking responsibility for their own poor investment decisions.  There is undoubtedly short term manipulation in almost all markets, but whales can only push the price in directions that the price already wants to go.  

For the record I do not think that the current downward price pressure on Bitcoin is a manipulation. I think it is a perfectly natural and organic reaction to a blow off top.

You may want to fix your quote Hairyberry.  My lame attempt above...to attribute to Biodom.

That is Biodom asking the above originating question, not me.

And, by the way, your answer to Biodom is much better presented than my earlier (or is it subsequent? whatever) attempts to say the same thing in a more clumsy way.

[HairyMaclairy]

Thank you JJG.  Fixed.  A hazard of posting from mobile. 

[Last of the V8s]

Hope you're using government-approved apps with the requisite backdoors on that there mobile.

[El duderino_]

Gonna read the last Posts tomorrow, still sick AF

Just wanna say, hodl on WO’s and enjoy life while hodling
If hodling and enjoying can still go’s together Then you got things by the right end

Try to increase in possible ways good night WO’s

[Last of the V8s]

Get better soon micg. sleep tight. hodl tight

[bitserve]

Gonna reasthe last Posts tomorrow, still sick AF

Just wanna say, hodl on WO’s and enjoy life while hodling
If hodling and enjoying can still go’s together Then you got things by the right end

Try to increase in possible ways good night WO’s

Take some rest Mic, Bitcoin is not going anywhere until you get better

[HairyMaclairy]

Hope you're using government-approved apps with the requisite backdoors on that there mobile.

Oh. That stings. No smart ass responses to that.

[Last of the V8s]

Hope you're using government-approved apps with the requisite backdoors on that there mobile.

Oh. That stings. No smart ass responses to that.

Thought you'd come back with Brexit-lol. Approaches/exceeds your govt levels of stupid.

[Last of the V8s]

[bitserve]

Is it me or the price is drawing a nice W?

[dogebearman]

As during times like these, media outlets not only brag about the volatility of Bitcoin, but also it's energy consumption, this article could be interesting for some of us:
https://blog.picks.co/pow-is-efficient-aa3d442754d3

It's putting things in an interesting perspective and I hope this wasn't posted before, because it's from September.

The obligatory comparison of Bitcoin with the Gold and Banking System:

[HairyMaclairy]

Hope you're using government-approved apps with the requisite backdoors on that there mobile.

Oh. That stings. No smart ass responses to that.

Thought you'd come back with Brexit-lol. Approaches/exceeds your govt levels of stupid.

So what is your take?

• Remainers split and enough of them decide soft Brexit better than hard Brexit?
• Remainers and hard Brexiteers remain united and UK crashes out?
• Labour calls no confidence and wins?

[BTCMILLIONAIRE]

Is it me or the price is drawing a nice W?

Please stick to the 11th Commandment: Thou shall not jinx.

[bitserve]

Is it me or the price is drawing a nice W?

Please stick to the 11th Commandment: Thou shall not jinx.

Bitcoin is dead.

[Last of the V8s]

Hope you're using government-approved apps with the requisite backdoors on that there mobile.

Oh. That stings. No smart ass responses to that.

Thought you'd come back with Brexit-lol. Approaches/exceeds your govt levels of stupid.

So what is your take?

• Remainers split and enough of them decide soft Brexit better than hard Brexit?
• Remainers and hard Brexiteers remain united and UK crashes out?
• Labour calls no confidence and wins?

Whoa Nellie. I hardly follow it; was just today's kindergarten power-plays caught my eye. 1 seems most likely. 2 I'd want. 3 It wasn't the socialists' call. No confidence votes are for those in power. Tories just voted for May and a year's reprieve from no-confidence votes.

[JayJuanGee]

Is it me or the price is drawing a nice W?

Please stick to the 11th Commandment: Thou shall not jinx.

I had to look up:  "what is a 'W' in trading"... hahahahahahahaha..

So, I guess that it could mean recovery or double bottom, but fuck technicals like that.  I don't think that we can rely on anything like that in order to have any kind of meaningful confidence.  Accordingly, we are still within about 6-7% of the most recent local bottom of $3210. 

These days, I am not going to start to feel comfortable until we are above $6k and $6k has been bottom tested a few times.

I might change my tune with more passage of time, but we are just too damned close to the most recent local bottom to be exuding any kind of reasonable level of confidence beyond a more surface relief that the bottom attack has temporarily resided.

[bitserve]

^ Anyways it would be a short term W if anything. The reality is that no one knows if the price is going to try to break $3000, or bounce to $5000 or both things in sequential order.... No fucking one!

[realr0ach]

You need to understand the distinction between absolute scarcity and relative scarcity.   https://sfugeog322.wordpress.com/2012/01/19/absolute-and-relative-scarcity/

Gold can easily be mined, pigs can be bred, marginal cropping land can grow more corn.

Many of us, including many on this wall, are now dedicated to slowly, gently buying physical all the way down, no matter how deep it goes or for how long. Holders of last resort will create conditions of absolute scarcity.  

The reality is that the poor performance of gold and silver markets is a reflection of poor organic demand for precious metals, combined with elastic supply.  People like Roach blow this up into a global conspiracy so that they can avoid taking responsibility for their own poor investment decisions.  

^Typical lying kike.

Shitcoins have no scarcity.  Zero.  Artificial scarcity is not scarcity.  There's no difference in bitcoin, dogecoin, and every other coin and nothing that forces everyone to use the same one.  Physical metals (the noble metals group) are physically constrained by nature so everyone is forced to use the same small amount of them because you can't create a new noble metal in your basement, but anyone can create a new digital currency.  This is why physical metals have a valid Schelling point and shitcoins don't.

You claim "more gold can easily be mined".  Well, too bad for the lying kikes that it's far easier to create new shitcoins than it is to mine more gold or silver.  And then he tosses in the most asinine lie ever claiming he's "buying physical bitcoin".  There's no such thing as "physical bitcoins".  Bitcoin is equivalent to cloud banking.  It's impossible to actually take possesion of one; they always just exist as a virtual breadloaf.  They have built-in middlemen and counterparty risk, and it's impossible to remove it, unlike metals.

If it has built-in middlemen, doesn't remove counterparty risk, and it's not even fungible, it's obviously not money.  Bitcoin is great if you want to willingly live inside of a govt tracking system like the Chinese social credit score system they're building in China, but it's not good for anything else compared to options that already exist for money such as metals.

[HairyMaclairy]

Ok

My understanding is last night's vote was an Australian style attempt to topple the PM.  It was called a 'no confidence' vote but really was an internal Tory debate.  Hence the 12 month rule which is only an internal Tory rule and does not bind Labour.

A real no confidence vote would take place on the floor of Parliament and involve a motion brought by Labour which would have to be supported by Tory dissidents.  Presumably political suicide for any Tory MP who supported it, although hard to tell in this day and age.  Labour would then be asked to form Parliament, and if they couldn't Parliament woudl be dissolved and a general election called (assuming the Tories subsequently did not form Parliament).  

https://www.bbc.com/news/uk-politics-39630209

My personal take is that a crash out is now the most likely outcome, so you may get your wish.