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

[fillippone]

Bitcoin HODLERS to Oil Traders right now -

^^ + 1 WO MERITS

[LFC_Bitcoin]

Surely all of these lockdowns are going to end soon. Look at oil, behaving like some weird shitcoin.

Governments are going to have to decide -

A small % of plebs or the world economy. This is catastrophic!

[Biodom]

yep, Hin Leong (singaporean oil trader firm) goes bust with $4 bil debts.

NYMEX bracing for NEGATIVE PRICES

WTI 7.90 6.50 5.00!!!!

**CME SAYS  MAY WTI FUTURES CAN TRADE NEGATIVE

**CME REPORTS WTI FUTURES TRADE AT NEGATIVE PRICES FOR THE FIRST TIME.

WTI MAY @-0.01 -1.43

*I cannot even stay behind this.

wow, just wow

-7.1 May WTI on CNBC

WO stays cocky, but what if someone (cough-Medallion-cough) will play with bitcoin futures like this.

[Ibian]

How many coins could you mine with the energy from 600 barrels of oil?

A very interesting question.
I am getting 35.7btc using S17pros and pre-halving reward size of 12.5btc (obviously, half of that afterwards).
Basically, about 19X of what 600 barrels would cost at $22/barrel.
^^Someone probably could make a fortune here in Texas if they have means to convert oil into electricity, then mining with that in the next couple of mo.

Can normal people actually buy barrels of oil? Does it go straight into a generator or is there some processing first?

[Biodom]

you need oil combustion turbine, also need to have miners with internet hookup.
I have no idea if you can buy oil as a person.

WTI May -$39.9?! Not %%
Settled at -$37.63 per barrel

[jbreher]

Interesting reddit on an analysis of all these "grassroots" protests to open the Govt. Hint: It's gun nut astroturf...

https://www.reddit.com/r/maryland/comments/g3niq3/i_simply_cannot_believe_that_people_are/fnstpyl/

Like-minded oppressed peoples are likely to communicate and coordinate? Who woulda thunk it?

Sorry, you lost all credibility with the use of the term 'gun nut'.

[Raja_MBZ]

Look at oil, behaving like some weird shitcoin.

Honestly, I don't remember any sh!tcoin except for Bitconnect behaving this bad.

[Last of the V8s]

[cAPSLOCK]

You know how we talk about the next X minutes/hours/days/weeks being critical for BTC?

Well this is an possible inflection point.  Is it or is it not correlated to the legacy system.  Is it or is it not (yet?) a safe haven.

Big chance we are going down hard here... soon.

And yet... if we do not?

[Raja_MBZ]

Big chance we are going up hard here... soon.

FTFY

[LFC_Bitcoin]

@alistairmilne
Remember, the SEC allowed Oil ETFs/ETNs but not for Bitcoin
https://twitter.com/alistairmilne/status/1252295022923448320?s=21

[jojo69]

pass the crazy pills

[Wekkel]

You know how we talk about the next X minutes/hours/days/weeks being critical for BTC?

Well this is an possible inflection point.  Is it or is it not correlated to the legacy system.  Is it or is it not (yet?) a safe haven.

Big chance we are going down hard here... soon.

And yet... if we do not?

Hardcore holders did not sell. They won’t sell now either. At some point, all bears will have sold. You can feel it happening.

Oil price negative.... How much more proof do you need to see the markets are screwed beyond recognition.....

[rolling]

These oil option traders who never intended to take delivery are getting ruined. They have to dump the contracts or be stuck with arranging delivery. Option traders should have to be part of the market to even trade, gtfo if you're not in the oil business.

Same goes for the bitcoin option traders, gtfo if you're just trying to make filthy fiat.

Maybe they'll pass a law after this all blows over to ban cash settled options.

[cAPSLOCK]

Big chance we are going up hard here... soon.

FTFY

If you've ever read any of my posts you know I am not a BTC bear...  but markets do not make sense right now.  Which is an understatement.  I am hopeful, very hopeful that BTC starts to shine... right now.  But the markets are about to set new lows.  The draw on BTC is going to be pretty damn hard.

I really really hope I am wrong.  I mean... who knows.  Maybe the S&P closes up or even today? Lol.

[jbreher]

probably simulate all that analog gear with a raspberry pi now. well except for the analog "sound" perhaps.

Fairlight CMI - Computer Musical Instrument. Not much of that 'analog' sound.

[jojo69]

MSM can't even

[cAPSLOCK]

You know how we talk about the next X minutes/hours/days/weeks being critical for BTC?

Well this is an possible inflection point.  Is it or is it not correlated to the legacy system.  Is it or is it not (yet?) a safe haven.

Big chance we are going down hard here... soon.

And yet... if we do not?

Hardcore holders did not sell. They won’t sell not now either. At some point, all bears will have sold. You can feel it happening.

Oil price negative.... How much more proof do you need to see the markets are screwed beyond recognition.....

I agree with you.. but BTC is a market too.

This is either the moment we have been waiting years for...  or...

(PS.  I am not selling a SAT... but I might be buying soon...)

[LFC_Bitcoin]

@winklevoss
After today, oil  can no longer be considered a reliable store of value. Your next best options are the U.S. dollar (gulp), gold (scarce), or Bitcoin (fixed).
https://twitter.com/winklevoss/status/1252304602055299073?s=21

[xhomerx10]

Barrel of oil equivalent = 6.1178632×10⁹ J
Antminer S17+ 70TH/s rated @ 40J/TH


 6.1178632×10⁹ J/bbl x 600 bbl = 3,670,717,926,540 J

 3670717926540 J / 40J/TH = 91,767,948,163.5 TH

 How many bitcoin can I mine in 91,767,948,163.5 TH?

 The probability that any give hash will lead to a valid block is 1/(2³²D), where D is difficulty
 currently D = 13,912,524,048,946

 So, 91,767,948,163.5x10¹²H x 1/(2³²13,912,524,048,946)/Block
 
 = 1.5357666489943172022545931579071 Blocks (currently 12.5BTC/Block)

 = 19.197083112428965028182414473839 BTC

 Wow.  I thought it would have been much more.  
 We're killing the planet!!