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

[HairyMaclairy]

The BTC price has two trends apparent since mid July with both lower highs and higher lows, we havent yet found which is stronger of the two.   I dont know if price is moving so slowly now because the two sides met and now counteract.

These are the dog days of summer.  The only trend is malaise.  It is written.  

Go outside, drink and be merry.  For in late autumn, we bull.

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[realr0ach]

Go outside, drink and be merry.

Trollgoossens is already drunk and high, that's why he's buying imaginary, valueless, digital timestamps instead of physical silver:

https://usdebtclock.org/

[HairyMaclairy]

Roach - the biggest risk to the global economy is deflation. There is zero need for PMs in a deflationary environment.  PMs are for fighting inflation. But inflation is dead, cremated, buried, gone.  

Production is soaring, and production costs globally are failing through the floor due to technological and social innovation. A PS4 is more powerful than the world’s greatest supercomputer in 1999.  Writ large, Moore’s Law still rules, except it has migrated from the hardware level to the software level.  GitHub was only invented 10 years ago.  The iPhone is only 12 years old.

 No one can raise prices in this environment in the supply chain - they would be destroyed. Deflation is here to stay and PMs have no role in a deflationary environment.  

[criptix]

Hm europe preparing for another round of massive QE, banks preparing for negative interest nationwide in germany :S

[HairyMaclairy]

Australia is moving to zero interest rates for the first time in history (it kept them high post Global Financial Crisis).

[realr0ach]

Roach - the biggest risk to the global economy is deflation. There is zero need for PMs in a deflationary environment.  PMs are for fighting inflation. But inflation is dead, buried, gone.  

Production is soaring, and production costs globally are failing through the floor due to technological and social innovation. Moore’s Law still rules, except it has migrated from the hardware level to the software level.   No one can raise prices in the supply chain - they would be destroyed. Deflation is not going anywhere.  

Your post is completely nonsensical and is like a college freshman talking about theory without actually knowing how things work in practice.  If someone owes $300k for a mortgage and deflation occurs, that amount due may now be equivalent to $600k instead through deflation.  One way or another they're going to default even if you make it illegal to default.  Everyone and their mom is either going to walk away from those loans or be unable to pay and all banks collapse.

A college freshman (the brain of HairyMaclairy) would look at deflation and think it's good for banks because their relative profits from loans should increase.  In reality, they take a bath on every single loan and die.  When the banks implode, fiat then has a value of zero and Exter's Pyramid takes play where the value of all assets on earth is simply divided by the number of above ground ounces of physical gold and silver.  Metals win in either deflationary or inflationary collapse.  Bitcoin is useless in deflationary collapse and it's value would be nothingness.

[OROBTC]

Roach - the biggest risk to the global economy is deflation. There is zero need for PMs in a deflationary environment.  PMs are for fighting inflation. But inflation is dead, buried, gone.  

Production is soaring, and production costs globally are failing through the floor due to technological and social innovation. Moore’s Law still rules, except it has migrated from the hardware level to the software level.   No one can raise prices in the supply chain - they would be destroyed. Deflation is not going anywhere.  

Your post is completely nonsensical and is like a college freshman talking about theory without actually knowing how things work in practice.  If someone owes $300k for a mortgage and deflation occurs, that amount due may now be equivalent to $600k instead through deflation.  One way or another they're going to default even if you make it illegal to default.  Everyone and their mom is either going to walk away from those loans or be unable to pay and all banks collapse.

A college freshman (the brain of HairyMaclairy) would look at deflation and think it's good for banks because their relative profits from loans should increase.  In reality, they take a bath on every single loan and die.  When the banks implode, fiat then has a value of zero and Exter's Pyramid takes play where the value of all assets on earth is simply divided by the number of above ground ounces of physical gold and silver.  Metals win in either deflationary or inflationary collapse.  Bitcoin is useless in deflationary collapse and it's value would be nothingness.

Gold did very well in the deflation of the 1930s.

While gold would certainly be hit in a stock market crash (as everyone would need $ liquidity), it is likely that gold would drop in price less than most other investment assets.

realr0ach is correct that the banks would be in grave danger in a deflationary environment.  Debts are extremely toxic in deflation.  Not to mention derivatives...  We have not had a real deflation in the USA since the 1930s.  Many of the economic rules we (mostly) believe in get turned around 180 degrees in a deflation (look at the perverse effects of NIRP, where you make money by borrowing it in Europe.)

*   *   *

It is, of course, possible that BTC would drop LESS than stocks (etc.) in a crash or extended bearish environment.  BTC has not been around long enough for us to know what would happen in a market event like 2008-2009.

[fabiorem]

All this talk about silver, palladium and platinum made me buy more litecoin today.

[Amateur_]

Australia is moving to zero interest rates for the first time in history (it kept them high post Global Financial Crisis).

Source? This looks to be BLATANT FUD.

All this talk about silver, palladium and platinum made me buy more litecoin today.

I personally find litecoin to be quite an interesting project; it appears to be almost identical to bitcoin, with the exception of developers pushing the envelope with regard to technological innovation and the implementation of new/experimental ideas.

Halving is only nine [9] days away too.

[realr0ach]

Roach - the biggest risk to the global economy is deflation. There is zero need for PMs in a deflationary environment.  PMs are for fighting inflation. But inflation is dead, buried, gone.  

Production is soaring, and production costs globally are failing through the floor due to technological and social innovation. Moore’s Law still rules, except it has migrated from the hardware level to the software level.   No one can raise prices in the supply chain - they would be destroyed. Deflation is not going anywhere.  

Your post is completely nonsensical and is like a college freshman talking about theory without actually knowing how things work in practice.  If someone owes $300k for a mortgage and deflation occurs, that amount due may now be equivalent to $600k instead through deflation.  One way or another they're going to default even if you make it illegal to default.  Everyone and their mom is either going to walk away from those loans or be unable to pay and all banks collapse.

A college freshman (the brain of HairyMaclairy) would look at deflation and think it's good for banks because their relative profits from loans should increase.  In reality, they take a bath on every single loan and die.  When the banks implode, fiat then has a value of zero and Exter's Pyramid takes play where the value of all assets on earth is simply divided by the number of above ground ounces of physical gold and silver.  Metals win in either deflationary or inflationary collapse.  Bitcoin is useless in deflationary collapse and it's value would be nothingness.

Gold did very well in the deflation of the 1930s.

While gold would certainly be hit in a stock market crash (as everyone would need $ liquidity), it is likely that gold would drop in price less than most other investment assets.

realr0ach is correct that the banks would be in grave danger in a deflationary environment.  Debts are extremely toxic in deflation.  Not to mention derivatives...  We have not had a real deflation in the USA since the 1930s.  

I'm not sure an actual deflationary crash will even be allowed to happen like 2008.  If a liquidity event occurs, they might just shut down markets, revalue metals by an obscene amount to re-capitalize the system, then re-open again the next day.  What other reason would Basil III ruling exist?  But they'll probably just keep trying to print more and more money and blow up the system through hyperinflation instead solely to avoid doing any metals revaluation even though debt monetization will automatically cause that to happen anyway.

[Amateur_]

I'm not sure an actual deflationary crash will even be allowed to happen like 2008.  If a liquidity event occurs, they might just shut down markets, revalue metals by an obscene amount to re-capitalize the system, then re-open again the next day.

That would be hilarious.

What other reason would Basil III ruling exist?

From Investopedia:

The Basel III regulations are designed to reduce damage to the economy by banks that take on excess risk.

But they'll probably just keep trying to print more and more money and blow up the system through hyperinflation instead solely to avoid doing any metals revaluation even though debt monetization will automatically cause that to happen anyway.

Isn't this already happening?

[JayJuanGee]

Australia is moving to zero interest rates for the first time in history (it kept them high post Global Financial Crisis).

Source? This looks to be BLATANT FUD.

All this talk about silver, palladium and platinum made me buy more litecoin today.

I personally find litecoin to be quite an interesting project; it appears to be almost identical to bitcoin, with the exception of developers pushing the envelope with regard to technological innovation and the implementation of new/experimental ideas.

Halving is only nine [9] days away too.

I know bitcoin, and you, litecoin are no bitcoin.  

[Amateur_]

I know bitcoin, and you, litecoin are no bitcoin.  

Of course A is not equal to B, but they do share similarities in protocol design and proposed use/implementation.

I'd be very interested to hear your take on the differences between litecoin and bitcoin, jiggy.

[HairyMaclairy]

Australia is moving to zero interest rates for the first time in history (it kept them high post Global Financial Crisis).

Source? This looks to be BLATANT FUD.

Don’t listen to me. Listen to the head of the Australian Central Bank.   Currently rates are 1% and heading lower for longer.  The market has already priced in a move down to 0.5%.  

https://www.abc.net.au/radio/programs/pm/inflation-problem-not-going-away-so-rate-lower-for-longer-rba/11347472

[VB1001]

I hope for the green dildo too!
(no homo)

The dildo arrived.

Wow! that's a great achievement brother. Being together for this long is truly amazing. Me and my wife celebrated our third anniversary few days ago. Embrace your evening. Say HI to your wife for me.

I would also like to see a green dildo to take the price to $13k+  🤪

Ok, Thx.

I would also like to see a green dildo to take the price to $13k+  🤪

I’ve been with mine for 11 years, no marriage, no kids.

No matter if you are married or live together, it is best to share your life with a person who understands and pursues the same goals in life as you.

Which tonic water do you recommend with Hendricks?

In my country the most used is > Schweppes Tonic Water.

Enjoy your evening

Thx, Mic

Now I go to a pub to have a GinTonic (hendricks) of course, after celebrating with my wife the 29 anniversary of married, a good white wine, fish and seafood.

Tomorrow hangover.  

If you see a big green dildo tonight, it's me who will be pushing hard, If it’s a red candle, I’ve fallen asleep.

Good weekend to everyone.

5 figures

I have no hangover, I did my job

The perfect evening.

Good morning WO,s

[JayJuanGee]

I know bitcoin, and you, litecoin are no bitcoin.  

Of course A is not equal to B, but they do share similarities in protocol design and proposed use/implementation.

I'd be very interested to hear your take on the differences between litecoin and bitcoin, jiggy.

Just like you really don't give any shits about what I think about litecoin, I don't give any shits about such topic.  

First of all, you already failed and refused to engage in genuine responses (rather than poo pooing like a typical troll/shill no coiner) regarding your previous quasi-irrelevant dumbass no coiner / bitcoin naysaying points that I already responded to.. and further,  this is not a thread to compare and contrast various shit coins.  Helrow?

But if you consider the one aspect of bitcoin that you proclaim to NOT accept or understand, you might want to look into network effects, but no, you claim to not understand or believe that such network effects are important in the discussion, instead you want to get caught up in distracting discussions about slight technical differences that may or may not exist and in the end don't even matter in the scheme of things.. because bitcoin is not broken, so you have to overcome that presumption of brokenness first, and you also have to show that your shitty ass project that you want to tout, whether litecoin or some other random project, whatever it is has sufficiently overcome whatever supposedly broken part of bitcoin that it is going to matter, instead of just being possibly absorbed into bitcoin as a tweak.

So, you have a decently goodly-sized burden to prove and to persuade your position if you want adoption within bitcoin to transition over to your project.  You understand that or just want to assert that I am speaking too abstractly for you and you would just prefer to get into the largely irrelevant technological weeds of nonsense?    

[Amateur_]

Australia is moving to zero interest rates for the first time in history (it kept them high post Global Financial Crisis).

Source? This looks to be BLATANT FUD.

Don’t listen to me. Listen to the head of the Australian Central Bank.   Currently rates are 1% and heading lower for longer.  The market has already priced in a move down to 0.5%.  

https://www.abc.net.au/radio/programs/pm/inflation-problem-not-going-away-so-rate-lower-for-longer-rba/11347472

In conclusion, "Australia is moving to zero interest rates for the first time in history." is FUD.

Thanks for clarifying.

[El duderino_]

Yesterday the #BankofChina posted up an article about #Bitcoin. They explained how $BTC works, why the price is going up, and why it’s valuable. Never thought I’d see that happen. 😅 #Bullish

https://twitter.com/excellion/status/1154985452127916032?s=21

[Amateur_]

I know bitcoin, and you, litecoin are no bitcoin.  

Of course A is not equal to B, but they do share similarities in protocol design and proposed use/implementation.

I'd be very interested to hear your take on the differences between litecoin and bitcoin, jiggy.

Just like you really don't give any shits about what I think about litecoin, I don't give any shits about such topic.

I'm beginning to lose my patience with you, jiggy; are you able to have a rational, back and forth discussion without immediately going on the defensive and resorting to inflammatory accusations?

Stop proclaiming that you're the arbiter of my intentions, you aren't.

First of all, you already failed and refused to engage in genuine responses (rather than poo pooing like a typical troll/shill no coiner) regarding your previous quasi-irrelevant dumbass no coiner / bitcoin naysaying points that I already responded to.. and further,  this is not a thread to compare and contrast various shit coins.  Helrow?

Refuse to engage or respond? I'm on mobile most of the time, which makes it difficult to format long posts and reply to multiple users.

With regard to our previous discussion, I was asking questions while you would answer; you never actually responded by asking me any specific questions of your own.

If you would like me to answer some specific questions or provide information of some kind, please, ask away!

But if you consider the one aspect of bitcoin that you proclaim to NOT accept or understand, you might want to look into network effects, but no, you claim to not understand or believe that such network effects are important in the discussion,

Incorrect, as I specifically acknowledged the network effect and first mover advantage that bitcoin has, in my previous posts.

instead you want to get caught up in distracting discussions about slight technical differences that may or may not exist

Protocol differences between projects definitely exist, you should be aware of this.

and in the end don't even matter in the scheme of things.. because bitcoin is not broken, so you have to overcome that presumption of brokenness first,

I never claimed the bitcoin was broken in any way, you're simply being disingenuous.

and you also have to show that your shitty ass project that you want to tout, whether litecoin or some other random project, whatever it is has sufficiently overcome whatever supposedly broken part of bitcoin that it is going to matter, instead of just being possibly absorbed into bitcoin as a tweak.

I'm not touting anything, I'm asking basic questions about the differences in protocol between projects.

Specifically, I've asked what makes bitcoin "better" or "best".
If your answer to this question is "it's more popular and it got there first", that's fine.

[HairyMaclairy]

If you want to call an implied yield curve of 50 basis points in 2020 as FUD, fine.  The numbers speak for themselves.  

https://www.asx.com.au/data/trt/ib_expectation_curve_graph.pdf

This is with 5.5% unemployment, the stock market making new ATHs and the federal govt is running a surplus.