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

[Torque]

But what I do NOT believe is that there are no other crypto projects that are worthy experiments or fill roles bitcoin cannot or will not.  Just that the VAST (over 99%) majority of them are useless at best and scams at worst.

Ah yes, but therein your statement lies the difference.

1. Once you strip down a cryptocurrency to it's bare, basic usage as a secure SoV and digital online exchange asset, Bitcoin becomes all anyone will ever need.

2. Once you separate what a crypto can do for you *today*, vs. what all the shitcoins purport to do for the far-away future (i.e., solutions looking for hypothetical, non-critical problems that don't really exist, ergo purely speculative bs with no basis in reality), Bitcoin is still the only cryptocurrency anyone will ever need.

Judged against this criteria, the 99% you mentioned above suddenly becomes 100%.

"Worthy experiments" (completely subjective btw) should hold no monetary value. See Theranos for example.

Filling hypothetical, made-up roles that aren't even a problem should hold no monetary value.

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[OutOfMemory]

Most altcoins dipped significantly harder than bitcoin today.

EDIT:
turns out roughly in +1% market dominance.

[savetherainforest]

Holy moly *face palm. 

[...]
The current support have been broken...
[...]

The current support line was a fake support line. It was a "delusional support line" from the first pump.

Dunno what you are smoking but the support line was barely scratched for a few minutes (10 minutes total if you count all the dips), at around 11200$-ish.

[DaRude]

Most altcoins dipped significantly harder than bitcoin today.

EDIT:
turns out roughly in +1% market dominance.

I don't even see BSv in top 10 on CMC someone should check on the jbreher

[vapourminer]

Most altcoins dipped significantly harder than bitcoin today.

EDIT:
turns out roughly in +1% market dominance.

I don't even see BSv in top 10 on CMC someone should check on the jbreher

hes probably busy counting his gainz

[Indymoney]

Most altcoins dipped significantly harder than bitcoin today.

EDIT:
turns out roughly in +1% market dominance.

I don't even see BSv in top 10 on CMC someone should check on the jbreher

Market going down very badly and just 4 coins in green from top 50 BSv is sliping badly.

[Toxic2040]

1h



4h

#stronghands

[philipma1957]

But what I do NOT believe is that there are no other crypto projects that are worthy experiments or fill roles bitcoin cannot or will not.  Just that the VAST (over 99%) majority of them are useless at best and scams at worst.

Ah yes, but therein your statement lies the difference.

1. Once you strip down a cryptocurrency to it's bare, basic usage as a secure SoV and digital online exchange asset, Bitcoin becomes all anyone will ever need.

2. Once you separate what a crypto can do for you *today*, vs. what all the shitcoins purport to do for the far-away future (i.e., solutions looking for hypothetical, non-critical problems that don't really exist, ergo purely speculative bs with no basis in reality), Bitcoin is still the only cryptocurrency anyone will ever need.

Judged against this criteria, the 99% you mentioned above suddenly becomes 100%.

"Worthy experiments" (completely subjective) should hold no monetary value. See Theranos for example.

Filling hypothetical, made-up roles that aren't even a problem should hold no monetary value.

That is simply the most narrow minded thought process possible When it comes to pow virtual coins.

But as long as you want it to be that way you are entitled to do believe that.

Not that I think we need 2000  virtual pow coins .
I do think only BTC should use sha-256 algorithm I only like 1 coin per algorithm .

But hey why not think what you like about BTC.

They are not going to make it just BTC

and they are not going to make it just one coin per algorithm . So we both want something we aint getten. {sic}

[Torque]

That is simply the most narrow minded thought process possible When it comes to pow virtual coins.

But is it really though?

Look at reality for a moment. Buying btc and selling it for profit (or loss) currently comprises 99.9999999999999999999999% of all use case activity. That is the current reality. Presumably, that will still be the future reality. And no one seems unhappy about it.

So here we are, 10 years on, doing the same exactly thing with bitcoin that we were doing a decade ago. SoV and digital exchange. Nothing more, nothing less. 10 years from now....same damn thing. 30 years from now, probably same damn thing.

[yefi]

https://twitter.com/100trillionUSD/status/1301114506790264835

Dear lord, that is ridiculously bullish, lol.  Nice to see on a day like today!

What happened to HairyMaclairy? Use to enjoy his halvening comparison chart.

[HI-TEC99]

https://twitter.com/100trillionUSD/status/1301114506790264835

Dear lord, that is ridiculously bullish, lol.  Nice to see on a day like today!

What happened to HairyMaclairy? Use to enjoy his halvening comparison chart.

He's getting pissed.

I’ve been gardening, cycling, cooking and drinking.  Life is good man.  

[goldkingcoiner]

Oh noooez we bouncing down from 12.5k back to 10k? Someone pick up that phone because I called it.

[cAPSLOCK]

Trying to PM Bawb.  But his deletion spree has downgraded him to no PMs.  Heh... that''s one strategy.

But since I can't PM him I will just type this here... I have some interesting audio gear for sale... any of you live near Dallas and want to buy some good stuff here it is:

Toft ATB 24 - 3500
SSL Alphalink Madi-AX 24 channel converters - 1500
MOTU M64 MADI to USB interface - 400

The whole thing all at once - 4k, why not.

PM me if you want details... I am already wrecking my opsec enough as it is.

Obviously I'll take bitcoin.

[BobLawblaw]

OT: Regarding DeFi, a handy chart provided by https://twitter.com/freelyish/status/1301187594491887616

[BobLawblaw]

Trying to PM Bawb.  But his deletion spree has downgraded him to no PMs.  Heh... that''s one strategy.

Nice equipment, but I have everything I need presently. Thanks for thinking of me.

[xhomerx10]

That is simply the most narrow minded thought process possible When it comes to pow virtual coins.

But is it really though?

Look at reality for a moment. Buying btc and selling it for profit (or loss) currently comprises 99.9999999999999999999999% of all use case activity. That is the current reality. Presumably, that will still be the future reality. And no one seems unhappy about it.

So here we are, 10 years on, doing the same exactly thing with bitcoin that we were doing a decade ago. SoV and digital exchange. Nothing more, nothing less. 10 years from now....same damn thing. 30 years from now, probably same damn thing.

 Now, I'm as much an abuser of hyperbole as the next person and I appreciate that most Bitcoin is being used for profit BUT I very recently spent $56 USD worth of Bitcoin for a service.  Based on your estimates, if that were the only such use case, it would mean that the total fiat value of Bitcoin moving around recently would be US$56 septillion (that's 24 zeros if you didn't know).  To put that into perspective, the entire world's debt is around US$300 Trillion (12 zeros if you didn't know).  So looking at reality for a moment, this is utterly impossible until the next Bitcoin peak! 

[Torque]

That is simply the most narrow minded thought process possible When it comes to pow virtual coins.

But is it really though?

Look at reality for a moment. Buying btc and selling it for profit (or loss) currently comprises 99.9999999999999999999999% of all use case activity. That is the current reality. Presumably, that will still be the future reality. And no one seems unhappy about it.

So here we are, 10 years on, doing the same exactly thing with bitcoin that we were doing a decade ago. SoV and digital exchange. Nothing more, nothing less. 10 years from now....same damn thing. 30 years from now, probably same damn thing.

 Now, I'm as much an abuser of hyperbole as the next person and I appreciate that most Bitcoin is being used for profit BUT I very recently spent $56 USD worth of Bitcoin for a service.  Based on your estimates, if that were the only such use case, it would mean that the total fiat value of Bitcoin moving around recently would be US$56 septillion (that's 24 zeros if you didn't know).  To put that into perspective, the entire world's debt is around US$300 Trillion (12 zeros if you didn't know).  So looking at reality for a moment, this is utterly impossible until the next Bitcoin peak!  

But...bbut....literally billions of $$$ worth of bitcoin can move around from wallet address to wallet address, and no goods or services are exchanged in the process. It just moved. And just because you personally just exchanged bitcoin for a service, doesn't mean other people routinely do.

I'm saying the hodling of bitcoin as a SoV, and buying/selling it on exchanges for fiat, outweighs using it as a currency to directly buy goods/services by MANY MANY orders of magnitude. One could even make the argument that nearly a decade ago it was used more as a currency than it is being used today.

[JayJuanGee]

I don't know how some people expected this to go to the moon without really retesting the previous huge resistance. For full year, we were trying to break 10500 and now we should go to ATH or 16k without retesting it but for 10 minutes in that flash crash from the first time we went to 12k.

No chance, zero logic in that. That level needs to be properly tested for bull run to continue.

Tone Vays and some of his following used to spout out that kind of nonsense regarding having to retest $1,300, and they were arguing that point for much of 2018, 2019 and maybe even in 2020... it's just nonsense talk to say that we "have to" test down support before we are ready and able to go up.

What I fucking hate is that this is lowering my chances to accumulate bitcoins trading alts as they shit themselves as soon as bitcoin farts.

You should not be fucking around with alts anyhow.  Many of us in this thread are neither here to talk about shitcoins nor to hear about other members and their poor judgement choices to be involved in shitcoins. 

[xhomerx10]

Oh noooez we bouncing down from 12.5k back to 10k? Someone pick up that phone because I called it.

 

https://youtu.be/ria37d9mInY

[philipma1957]

That is simply the most narrow minded thought process possible When it comes to pow virtual coins.

But is it really though?

Look at reality for a moment. Buying btc and selling it for profit (or loss) currently comprises 99.9999999999999999999999% of all use case activity. That is the current reality. Presumably, that will still be the future reality. And no one seems unhappy about it.

So here we are, 10 years on, doing the same exactly thing with bitcoin that we were doing a decade ago. SoV and digital exchange. Nothing more, nothing less. 10 years from now....same damn thing. 30 years from now, probably same damn thing.

 Now, I'm as much an abuser of hyperbole as the next person and I appreciate that most Bitcoin is being used for profit BUT I very recently spent $56 USD worth of Bitcoin for a service.  Based on your estimates, if that were the only such use case, it would mean that the total fiat value of Bitcoin moving around recently would be US$56 septillion (that's 24 zeros if you didn't know).  To put that into perspective, the entire world's debt is around US$300 Trillion (12 zeros if you didn't know).  So looking at reality for a moment, this is utterly impossible until the next Bitcoin peak!  

But...bbut....literally billions of $$$ worth of bitcoin can move around from wallet address to wallet address, and no goods or services are exchanged in the process. It just moved. And just because you personally just exchanged bitcoin for a service, doesn't mean other people routinely do.

I'm saying the hodling of bitcoin as a SoV, and buying/selling it on exchanges for fiat, outweighs using it as a currency to directly buy goods/services by MANY MANY orders of magnitude. One could even make the argument that nearly a decade ago it was used more as a currency than it is being used today.

Btc is more like a 10000 usd t-bill.

ltc and doge are much better to be used for cash 💰.

I think I misunderstood what you meant About Btc. In the context of using it as a cash and that it is the only

virtual coin used. Is what I thought you meant. That is narrow minded.

It cant work as a one coin for all.

basically same reason you need multiple fiat it helps to prevent entropy.

If all there is right now is btc and the euro. It would not work.

Having metals like gold, plat, silver creates speculation which means exchanges and trading. which in turn increases demand.

that is true for virtual coins
that is true for stock
that is true for fiats
that is true for metals.
that is true for bonds.

I know an investment banker that simply buys and sells three to four million a day in bonds.

if there was one bond that entire industry would fail.
if all there was only btc virtual coins would fail.
it there was only one metal say plat it could hang in there but many would. lose work

So i thought the meaning of the post  was just have btc and nothing else. use ing it for everything.

Wont work will cause stillness entropy and stagnation.