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

[bitserve]

In Italy, friendly kisses and hugs are part of the culture. This also adds to the explosive increase, also many elderly there. They say it's because of extensive use of olive oil in their cooking.

maybe. but what is the official statement of how Italy became so massive infected with the COVID-19? are there any explanations so far?

no idea if there's an official statement,
but here's one explanation https://summit.news/2020/03/05/coronavirus-patient-zero-in-italy-was-pakistani-migrant-who-refused-to-self-isolate/
again, sad

That’s what happens when you don’t have a social safety net.  There’s no point in him self isolating if he can’t pay his rent and is thrown out on the street.  

Maybe as part of this we will realize that we have to take care of our sick and vulnerable.  But probably not, we will just jail them instead. 

Jail them is more expensive. Way more.

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[HairyMaclairy]

Well it’s a good way to get spread in jail

[bitserve]

Well it’s a good way to get spread in jail

You could have a point there... One that makes me think what will happen when jails start getting infected. It will happen.

[BTCMILLIONAIRE]

So Trump is a hero for banning travel but coronavirus is nothing to worry about. Got it.

I see you still love twisting words beyond their meaning. So what you're saying is.

[Elwar]

At 2% mortality and 70% infection you get less than 100 Million deaths worldwide.

At your 4% (which is nowhere close to the <1% that I've seen for people that aren't already half-dead anyways) and 100% infection rate we'd still get 300 million at worst.

And that's assuming that neither vaccines nor cures will be developed and distributed. In reality we'll see deaths far below 100 million spread over several years, which is pretty much normal business.

About 50 million people die on average per year worldwide.

It is safe to assume that Corona virus will just hasten that date for many people who would have died anyway due to their body aging or growing weaker.

The rest, car accidents, etc. will continue to happen as well.

[HairyMaclairy]

I think banning travel was one of the best things that Trump has ever done, if not the best.  It was a brave decision.  Europe are fools for not following Trump’s lead and now they are paying for it.  

I think downplaying Covid-19 and blocking testing in the US is absolutely the wrong thing to do.

The situation within the US is still manageable but the administration needs to pull its finger out.

[bitserve]

At 2% mortality and 70% infection you get less than 100 Million deaths worldwide.

At your 4% (which is nowhere close to the <1% that I've seen for people that aren't already half-dead anyways) and 100% infection rate we'd still get 300 million at worst.

And that's assuming that neither vaccines nor cures will be developed and distributed. In reality we'll see deaths far below 100 million spread over several years, which is pretty much normal business.

About 50 million people die on average per year worldwide.

It is safe to assume that Corona virus will just hasten that date for many people who would have died anyway due to their body aging or growing weaker.

The rest, car accidents, etc. will continue to happen as well.

Not quite. If someone dies from Coronavirus... they can't die in a car accident, etc... You can only die once.

It will be interesting to see the total deaths (from all causes) in one year and compare with previous ones. Maybe the cause will change but the total not so much?

[OutOfMemory]

In Italy, friendly kisses and hugs are part of the culture. This also adds to the explosive increase, also many elderly there. They say it's because of extensive use of olive oil in their cooking.

maybe. but what is the official statement of how Italy became so massive infected with the COVID-19? are there any explanations so far?

Idk if there is an official statement, but i'd say tourism. Also quite some italians from the lombardy region working in ski resorts in the southern west of austria, hosting many international guests.

ok, so maybe Chinese tourists. could be. but to be honest for me the whole situation of spreading that virus around the world is a bit mysterious. really.

Not really, imo. That's what you get with millions of chinese tourists on vacation around their new year and two weeks of incubation time. And the resulting R0 of 3-3,5 has good impact on the growth of case numbers, too.

EDIT: Oh yeah, and this takes us to 3-4 weeks to get the first dead patient to be diagnosed in hospital. Imagine the spread within this time. More and more cases pop up, everywhere. In the southern hemisphere the temperature, level of UV-C radiation and air humidity makes it much more difficult to spread. Most cases and fatalities are foreigners there. But since they are going into fall and winter soon, the situation may get significantly worse, southward of the equator, in the next few months.
Travel bans should be planned ahead, but you know, "economy first"  
By then case numbers in the northern hemisphere should get much better.

[hodl_2015]

If the above figures are correct of 1.9 million US ICU admissions (they do sound like a worse case scenario), that’s not something you can casually blow off.  

According to google, the US had a total of 94,837 ICU beds in 2015, 20 times too few.

You could have a point there... One that makes me think what will happen when jails start getting infected. It will happen.

from this week: "Iran has temporarily released more than 54,000 prisoners in an effort to combat the spread of the new coronavirus disease in crowded jails."

[LFC_Bitcoin]

[Febo]

Bernie could ban Bitcoin in a heartbeat with an executive order.

Governments ban Bitcoin. Allover the world. Specially more autocratic. But then that country main court in case of USA constitutional will over rule that ban. Such things will keep happen. I do not believe Sanders government will be considered as autocratic government.

Any candidate for USA president will be good for Bitcoin. They will all increase public debt. If Tump managed to do that in such economic growth I dont see a hero to do opposite.

Its silly to think a White House full of extreme leftists (communist idealogues) wouldnt be hostile to Bitcoin. Do you think its a coincidence that two out of the four communist countries on Earth have banned Bitcoin in many ways.

Extreme leftists don't like private property, they want the goverment to run everything. They dont want people using money free of censorship that cant be debased. Of course they hate Bitcoin. Bernie would put an army of these people in power.

Bernie is toast, so its a moot point. America isnt trying to go back in time and become the Soviet Union, thats why he was rejected. King Bitcoin wins again.  

You dont know what communism is. USA have Democrats and Republicans, both parties are very far from communism. To start a communist party first both would need to unite in to one party named a Demoplican party.

Any USA government will be hostile to Bitcoin. Because government will lose some control over people. But the constitution will defend Bitcoin no matter what. No government can win. All of them can ignore court rulings and can fight some time the battle they will lose.

[ssmc2]

Looks like Luc was right about heading down to test 200wma 

[d_eddie]

It's deader now than before.

[somac.]

Looks like Luc was right about heading down to test 200wma 

Yeah, I think we have a head and shoulders on the chart. Target is 6500 again

[ssmc2]

Looks like Luc was right about heading down to test 200wma 

Yeah, I think we have a head and shoulders on the chart. Target is 6500 again

Hey, cheap coinz tho!

[ssmc2]

Seriously though, this is going to be the last prime buying op of the century guys.

[jojo69]

so we're all selling our bitcoins right?

[BTCMILLIONAIRE]

so we're all selling our bitcoins right?

80x short.

[Raja_MBZ]

Breaking: Oil prices fall by over 20%.

Sh!t is real, that's for sure.

[Biodom]

Looks like Luc was right about heading down to test 200wma  

Yeah, I think we have a head and shoulders on the chart. Target is 6500 again

All those targets make no sense now.
The only question is: is this a one-off event which would dissipate in a couple of months OR is this is a reset of all economic activity that would resettle at a semi-permanent plateau that would last for at least several years. I still think that it is the former, but some here argue that it is the latter.
We shall see.