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Question: Nov. 18 closing price:
<$35,000 - 4 (9.1%)
$35,000-$35,500 - 1 (2.3%)
$35,500-$36,000 - 4 (9.1%)
$36,000-$36,500 - 4 (9.1%)
$36,500-$37,000 - 4 (9.1%)
$37,000-$37,500 - 3 (6.8%)
$37,500-$38,000 - 4 (9.1%)
$38,000-$38,500 - 5 (11.4%)
$38,500-$39,000 - 2 (4.5%)
$39,000-$39,500 - 1 (2.3%)
$39,500-$40,000 - 0 (0%)
>$40,000 - 12 (27.3%)
Total Voters: 44

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26311136 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (170 posts by 1 users with 9 merit deleted.)
mindrust
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February 27, 2020, 06:39:37 PM

"Everything is gonna be OKAAY! Don't invest in gold and btc!"

"This is just a small problem!"

"Nothing we can't fix!"

-No.
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Torque
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February 27, 2020, 06:47:54 PM
Last edit: February 27, 2020, 07:18:35 PM by Torque
Merited by mindrust (2), El duderino_ (2), vapourminer (1), JayJuanGee (1), gentlemand (1), Icygreen (1)

The establishment chicken littles are starting to crow. I wonder how much is corona virus effect as stated and how much is them just saying it is to cover their rears...
https://news.yahoo.com/coronavirus-will-wipe-out-corporate-profit-growth-in-2020-and-may-trigger-recession-goldman-sachs-122739601.html
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The coronavirus may wipe out corporate growth in 2020, perhaps completely.

Goldman Sachs said Thursday in a note U.S. companies will generate no earnings growth in 2020. Underlying the call is Goldman’s view that the coronavirus is expected to spread around the globe and severely harm economic activity.

The market couldn't stand this growth rate anyway.  The Fed wanted to hike the rates a little, and only pressure from the orange ape made them keep on easin'.  This corona thing is actually a help for those who need a different narrative.  'Corona gets all the blame' is like 'dog ate my homework'.

Most people on the street don't realize that real growth truly died back in 2008. 2011 was just a dead cat bounce from all the QE's, and ever since then real demand has been merely a trickle, a mere fraction of what it was since the 80's, 90's, and early 2000's. But the establishment doesn't want the citizens to realize that; they have been propping up the markets with cheap debt and fake growth, "fake-it-until-you-make-it-again". Fake it until real demand comes back (or so they hoped). Even though real demand fell off a cliff quite a few years ago. Americans and much of the world citizens are completely tapped out, from all the personal household debt, student loan debt, and lack of income growth. They can't consume any more stuff. And they are starting to not even desire any more stuff, willing to live and be happy with less.

I'm assuming that because of established trade agreements between the West and East, the U.S. had to keep buying goods from China that it couldn't sell locally, just to support Chinese growth and have them in-turn buy U.S. goods (that could easily be sold to the Chinese people). Meanwhile China was trying to get its own citizens to begin to consume China-made products typically bought and sold in the U.S. That strategy seemed to work for a while, but it was all fake growth too, as China pumped it's own cheap money into local businesses that were all growing purely on debt. But then, eventually that all started to crater too. The Chinese people are also tapped out on personal debt and falling income growth.

So Chinese products can only go unsold in the U.S. for so long; megastores and warehouses fill up, then you start to build up surpluses that you can't do anything with. I wouldn't be surprised if in the last few years, goods purchased from China were then shipped directly to mega landfills somewhere. Trump and Xi tried tariffs, but that didn't work either.

So what we are seeing now with the coronavirus is a blatant attempt to completely disrupt global supply chains, so that the U.S. doesn't have to continue buying Chinese products that it is obligated to buy through trade agreements but cannot sell locally, because there is no demand. We'll see how long that tactic lasts.

The state of the world economy is way worse that most people realize, because all the growth over the last decade was fake (fueled with debt) and the trickle of consumption was completely obscured from their eyes.
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February 27, 2020, 06:50:11 PM



Romanian TV faking up an 'empty shelves' story. Everything from the shelves is just piled up behind the camera

Yeah, I have noticed the same with Italy empty supermarket pictures. They just focus on some random empty shelve... and you can clearly see in the background many others completely filled... yet the pictures imprints the idea of a complete full stop of supplies. Fuck mainstream media. One thing is spreading bullshit because of incompetence (something I take for a given), and another thing intentionally misleading when you know better. Bleh.

Yesterday i wanted to buy some noodles. The noodles shelves were empty, as well as rice, canned beans and eggs. Today i was at the supermarket again, still not restocked, flour and evaporated milk shelves now empty too. I asked for restock, they said at noon. I returned there at noon, people with carts full of toilet paper waiting for the delivery truck.
I went to a small store at the city border and got all i wanted there, easily. No need to touch my prepper reserves yet. People are endlessly dumb. They will smash their heads for a bottle of soda in the supermarkets soon, while i will shop the grocery stores in a relaxed manner.
But you have to know this: Four confirmed Covid19 cases in the whole country so far...
This is insane.

EDIT: Fishing "season" starts mid of April, too. I'm set. Quotes because fish can be caught all year, but it's harder in winter, of course.
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February 27, 2020, 06:56:05 PM

WATCH LIVE: California governor and state officials provide update on coronavirus response
https://www.youtube.com/watch?v=vQtpYrK7EII

These people have no idea what they are doing.
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February 27, 2020, 07:01:58 PM
Merited by xhomerx10 (1)

Quote from: redacted
Quote from: redacted


redactanians...

edit: redacted
edit2: redacted
edit3: opsec fears
agree with this 100%
Ibian
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February 27, 2020, 07:18:25 PM

I mean, look at Ibian - he's already feasting on this, hoping that this the one. Why would I give a fuck to this kind of approach?
I don't think I have actually said that I hope this is The One. If you want to know what someone thinks, why not ask instead of guess?

Okay,

This could really be the big one.
So we agree. I did not say that I hope it is.
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February 27, 2020, 07:32:10 PM

You want bitcoin to win completely against FIAT but there will be many grannies and dads who will miss the train and will fight btc forever just because some bankster told them to not invest bitcoin. What was their mistake? Listening to the banksters? Being not smart enough? Being old and dumb? At this point the movie "the big short" comes to my mind, when bitcoin hits $1.000.000, I am making the call here, lots of people will die. Not because I want people to die.

If one day there is a global, economic reset (where they start lopping off zeros on the USD currency value), then anyone not holding deflationary assets like real estate, high end collectibles, PMs, and yes Bitcoin will suffer immensely. Everything will reset to it's real economic value. It doesn't matter if those people are old, middle-aged, or young. If they had the means beforehand, then they will be seen as somewhat foolish either way for not owning any. There will massive job losses the likes of which we haven't seen since the Great Depression. And yes some may die, because they will become bankrupt and impoverished overnight.
infofront (OP)
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February 27, 2020, 07:38:29 PM

We might be on the cusp of said global economic reset now.

Everyone is worried about the virus, but the irony is that the second and third order effects would kill a lot more people than the virus.
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February 27, 2020, 07:41:48 PM
Merited by mindrust (1)

Even though real demand fell off a cliff quite a few years ago. Americans and much of the world citizens are completely tapped out, from all the personal household debt, student loan debt, and lack of income growth. They can't consume any more stuff. And they are starting to not even desire any more stuff, willing to live and be happy with less.

Yeah, nobody needs a faster computer or better smartphone these days.

Tech companies saw this years ago, and desperately tried to invent new types of products: smart watches, fitness trackers, VR... but nobody needs this shit.

Now they're trying foldable smartphones, ha!
Ibian
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February 27, 2020, 07:46:26 PM

Phones with a large holographic screen would be nice. Other than that...
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February 27, 2020, 07:50:39 PM

Even though real demand fell off a cliff quite a few years ago. Americans and much of the world citizens are completely tapped out, from all the personal household debt, student loan debt, and lack of income growth. They can't consume any more stuff. And they are starting to not even desire any more stuff, willing to live and be happy with less.

Yeah, nobody needs a faster computer or better smartphone these days.

Tech companies saw this years ago, and desperately tried to invent new types of products: smart watches, fitness trackers, VR... but nobody needs this shit.

Now they're trying foldable smartphones, ha!

Exactly. Not only that, but as a prerequisite to buying more stuff (e.g., furniture, household accessories, pictures/paintings, collectibles, etc.) you need somewhere to put all that stuff, i.e. a sizeable house like people their age bought back in the early 2000's. But with house prices doubling in just the last 5 years, young and middle-aged people can't even afford a nice/big house any longer. So they settle with a small apartment, where space is limited. Likewise many retirees are downsizing or have already downsized. People have cut waay back on buying more of everything: new clothes, new gadgets, new jewelry, new household items, new cars, etc.

It could literally be another decade or two before people start buying stuff again, but that would be predicated on income growth actually moving up again. Don't see that happening any time soon either.
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February 27, 2020, 07:58:49 PM

Phones with a large holographic screen would be nice. Other than that...

I have a cheap chinese phone with a 3D screen to watch 3D movies.

It's fine, but it's also a niche product, very small percentage of people would be interested.
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February 27, 2020, 07:59:45 PM

Even though real demand fell off a cliff quite a few years ago. Americans and much of the world citizens are completely tapped out, from all the personal household debt, student loan debt, and lack of income growth. They can't consume any more stuff. And they are starting to not even desire any more stuff, willing to live and be happy with less.

Yeah, nobody needs a faster computer or better smartphone these days.

Tech companies saw this years ago, and desperately tried to invent new types of products: smart watches, fitness trackers, VR... but nobody needs this shit.

Now they're trying foldable smartphones, ha!

Exactly. Not only that, but as a prerequisite to buying more stuff (e.g., furniture, household accessories, pictures/paintings, collectibles, etc.) you need somewhere to put all that stuff, i.e. a sizeable house like people their age bought back in the early 2000's. But with house prices doubling in just the last 5 years, young and middle-aged people can't even afford a nice/big house any longer. So they settle with a small apartment, where space is limited. Likewise many retirees are downsizing or have already downsized. People have cut waay back on buying more of everything: new clothes, new gadgets, new jewelry, new household items, new cars, etc.

It could literally be another decade or two before people start buying stuff again, but that would be predicated on income growth actually moving up again. Don't see that happening any time soon either.

This looks very interesting and I do agree with most of it... but I don't see where you are going. Do you think we are already on a deflationary economy?
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February 27, 2020, 08:00:17 PM

Even though real demand fell off a cliff quite a few years ago. Americans and much of the world citizens are completely tapped out, from all the personal household debt, student loan debt, and lack of income growth. They can't consume any more stuff. And they are starting to not even desire any more stuff, willing to live and be happy with less.

Yeah, nobody needs a faster computer or better smartphone these days.

Tech companies saw this years ago, and desperately tried to invent new types of products: smart watches, fitness trackers, VR... but nobody needs this shit.

Now they're trying foldable smartphones, ha!

Exactly. Not only that, but as a prerequisite to buying more stuff (e.g., furniture, household accessories, pictures/paintings, collectibles, etc.) you need somewhere to put all that stuff, i.e. a sizeable house like people their age bought back in the early 2000's. But with house prices doubling in just the last 5 years, young and middle-aged people can't even afford a nice/big house any longer. So they settle with a small apartment, where space is limited. Likewise many retirees are downsizing or have already downsized. People have cut waay back on buying more of everything: new clothes, new gadgets, new jewelry, new household items, new cars, etc.

It could literally be another decade or two before people start buying stuff again, but that would be predicated on income growth actually moving up again. Don't see that happening any time soon either.

With such rapid climate changes, it is best to collect money not for a big house, but for a ticket to another planet
Torque
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February 27, 2020, 08:13:18 PM
Last edit: February 27, 2020, 09:27:11 PM by Torque

Even though real demand fell off a cliff quite a few years ago. Americans and much of the world citizens are completely tapped out, from all the personal household debt, student loan debt, and lack of income growth. They can't consume any more stuff. And they are starting to not even desire any more stuff, willing to live and be happy with less.

Yeah, nobody needs a faster computer or better smartphone these days.

Tech companies saw this years ago, and desperately tried to invent new types of products: smart watches, fitness trackers, VR... but nobody needs this shit.

Now they're trying foldable smartphones, ha!

Exactly. Not only that, but as a prerequisite to buying more stuff (e.g., furniture, household accessories, pictures/paintings, collectibles, etc.) you need somewhere to put all that stuff, i.e. a sizeable house like people their age bought back in the early 2000's. But with house prices doubling in just the last 5 years, young and middle-aged people can't even afford a nice/big house any longer. So they settle with a small apartment, where space is limited. Likewise many retirees are downsizing or have already downsized. People have cut waay back on buying more of everything: new clothes, new gadgets, new jewelry, new household items, new cars, etc.

It could literally be another decade or two before people start buying stuff again, but that would be predicated on income growth actually moving up again. Don't see that happening any time soon either.

This looks very interesting and I do agree with most of it... but I don't see where you are going. Do you think we are already on a deflationary economy?

Yes, absolutely, I believe we have been in a global deflationary economy since the Financial Crisis in 2009. There has been no real economic growth since then. All the media delivered so-called "growth" has been completely fake and almost entirely fueled with low-interest debt. That is why the Fed cannot and will not raise interest rates, it would crash the world markets and usher in a new Great Depression, but on a global scale.

Remember that something like ~40% of U.S. companies are now zombie companies, each one propped up by the banks (through cheap debt) in order to merely employ tens of thousands of people to pay them a salary so they can then help consume stuff (in a U.S. economy whose GDP is 70% consumption-driven). The U.S. is the major global consumption entity of the entire world.

Why do you think that all these mega IT/Tech companies have shifted focus over the last decade to collecting and selling user data? They're selling the user data to the marketing departments of retail and wholesale goods suppliers, because they want to more acutely target consumers to sell them more shit and more services (that are not selling otherwise, because demand has dried up). They are completely desperate to sell everyone more stuff, but people can't afford more stuff, and now even their desire for more stuff has cratered.
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February 27, 2020, 08:22:59 PM
Merited by JayJuanGee (1)

Yes! Hodl!!

Quote
JUST HODL IT. pattern


Source: https://twitter.com/ChartsBtc/status/1233066977523982338
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February 27, 2020, 08:32:32 PM

Do you guys know any good places to spend crypto? Like airplane tickets and hotels?
infofront (OP)
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February 27, 2020, 08:37:31 PM

cheapair, expedia
Ibian
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February 27, 2020, 08:38:04 PM

Do you guys know any good places to spend crypto? Like airplane tickets and hotels?
https://www.cheapair.com/

I buy all my plane tickets with bitcoin (and buy the coins right back on kraken, of course).
Ibian
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February 27, 2020, 08:52:08 PM

Just checked prices for local hotels on cheapair. It... appears that I have been overpaying. Trying that site for the next few hotels, see how it goes.
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