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

[JimboToronto]

Almost every trader is the worst trader in the world.

The rest are just lucky.

Don't trade, just HoDL.

never trade. you are competing with smarter guys, with deeper pockets, with way more experience and knowledge, them being interconnected but you aren't, they don't play fair, they know everything, you know nothing

try to win a match of tennis against a top 20 professional. or a game of chess vs a grandmaster. it would be fun, but would you put meaningful cash on yourself winning?

And that's not even counting the house vigorish a.k.a. trading fees and money transfer expenses.

Gambling (trading) is a sucker's game.

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[cAPSLOCK]

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

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

[JayJuanGee]

News:

To further expand our cryptocurrency options for Pornhub Premium, we're excited to announce that we now accept Bitcoin & Litecoin as payment methods! Coin http://bit.ly/3biOfPq

https://twitter.com/pornhub_premium/status/1300942357555183617

BROKE: Mass adoption incoming
WOKE: Which degenerate is going to pay for premium subscription?
AWOKE: Pornhub is meant for degenerates!


Little Known Fact:
During Italian lockdown Pornhub gave free premium access to the whole italian population.
https://www.nssmag.com/en/pills/21244/pornhub-premium-gratis-italia-coronavirus

The Italian stallion seems to know a lot about this particular topic.

TBH, I'm not really impressed with the volume so far. I know this isn't going to be a popular opinion, but it feels as if a single entity (or a small whale group) controls everything in the market float from ~$10,5k to $12k. And it looks as if their mega pump hasn't really attracted other whale traders en masse at this point.

It seems nothing has really changed from when I posted this. Until other whale traders come in to play, this single entity is just going to keep splashing around and barting between $11K-12K.

Oh Gawd!!!!  Moar single entity theories. 

[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.

[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.