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

[explorer]

https://twitter.com/TuurDemeester/status/1316469188156952576

Whaaat?
Hopium^2
 

EDIT: nevermind, it is in strange units, just regular hopium, nothing to see here.

Haha got me for a minute too.  Quick math looks reasonable.  The science I am not sure of.

[Toxic2040]

re:dumpenings and silly bear domination gifs

No.

Its my belief that bitcoin is still at the beginning of a exponential s-curve adoption phase. I think selling only what is necessary at this point is probably a good idea for most.

Now is the time for accumulation. This is the way.

[JayJuanGee]

In connection with the frequent news about companies that reveal their positions in bitcoins, I have the following observations / speculations. Haters on twitter say that these bitcoins are not bought at once and that the price has not risen, so this news is irrelevant. These are the same haters who said 9 months ago that the halving was priced in. Apparently they were wrong, because the price has risen by more than 50% since the beginning of the year. In the same way, they are wrong in their assumptions that these purchases will not affect the price in the future. Here I believe that the following facts are valid.

These are serious companies with great resources and specialists who have obviously come to the conclusion that bitcoin will go up and at some point will decouple from stocks as it was often in the past. This will give the desired insurance and more companies will invest.

Another interesting fact is that in the last 6 months the balance of spot exchanges has decreased by about 500K bitcoins, which is close to the amount owned by some companies listed in my post above. This trend will obviously continue with further purchases.

The real question here is how much we can expect companies to invest in bitcoin over the next 4-5 years. It is clear that not everyone will buy large quantities at once, so 1-2 month bubbles cannot be expected from there. But according to fidelity, the estimated fiat that will be invested is about $1.3 trillion. A simple calculation shows that this amount at the current price would buy more than 100 million bitcoins, which is impossible of course. Therefore, even only the institutions will move the price to at least 100K, which would correspond to 10 million bitcoins - again more than is actually achievable, because there will be more than 8 million bitcoins that are either lost or not sold below 100K.

So definitely this news is very important and we should be happy. And be patient. The decline in bitcoins on spot exchanges is only a sign (but a definite one) of an impending price increase. The real rise can be postponed for several months, at most 2 years, if there are violent manipulations through the derivatives. However, as the pathetic troll proudcon would say, mathematics and science prove that with such an investment the price will become at least 100K in the coming years. And if we add the natural retail growth which will be enough by itself to push the price above 100K, we can expect a peak well above 100K.

#confirmedbymathandscience  

I agree with everything that you say, Ivomm spiritually and tonally.... except, I quibble a bit with the way that you say the above part of your post that I bolded:
>>>>>>>>"and at some point will decouple from stocks as it was often in the past"<<<<<<

Sure, technically you are correct that we have short-term fewlings of correlation - but what real peeps that matter gives any fucks?... such short-term correlation is hardly even worth mentioning, even if it is technically correct because it is largely irrelevant, too...  AmInotkoreck?



In essence, bitcoin is not correlated to any other assets including equities, gold or anything else - even if some of us might want to have fewlings that it is.

NONSENSE>... ...   believe such actual correlation at the peril of ur lil selfie.!!!!!    


 

[JayJuanGee]

buyers remorse

With BTC I've NEVER had buyers remorse... I HAVE had sellers remorse of BTC however...also had a pretty good ASIC addiction hardware-wise of any flavor...but

that seems to have 'passed' (like a gallstone) so moving on...

Brad

S9 noise killed my ability to mine at home.
S19 makes my ability to support hosting kind of iffy and not very practical at the current price/output levels.
S17/T17 is probably the last gen I purchased, which is kind of sad.
kudos to @philipma1957 who still going strong in self-hosting, albeit mostly at a solar farm.
I am this close: > < to giving up even at a great hosting. Will continue as long as it makes some sense.

This fucking covid-19 has made it really hard to continue mining ⛏.
I shifted gears and now have 10k worth of gpus and 40k worth of asics.
Instead of all asics.
Pretty soon I will be done.
Finding power is a bear 🐻.
We have the place in clifton nj with most of the gear.


we may get a place in pennsylvania but it is far really long drive.
3 1/2 hours each way.
we could load it up with s17pros on vnish firmware it could be viable.

The covid got me and the wife in Jan.-Feb. 2020

 I got better, But the wife had a hidden condition which the covid attacked and made worse.

It then took from march 2020 to july 2020 to get an almost correct diagnosis. which when treating led to finding the true underlying problem. we are now treating her since oct 6th with most likely the right method.

It has been a draining experience. years ago I was sick for five years around 26 to 31 and it was difficult.
This is harder. As the wife and I are 63+64 .

Back to predictable things the price of btc will moon 🌙 very soon or I may just give it all up due to exhaustion.

Sorry about the Covid issues with you and your wife, and regarding mining, there seemed to have had been some expectation that difficulties would go down or stay flat, and it seems to be ongoingly increasing (rather than either flat or down),

https://btc.com/stats/diff?_ga=2.166892222.1079250679.1586286038-48233127.1586286038

and surely that likely continues to create considerable incentives for cheaper and cheaper electricity including likely giving more advantages to those miners who are able to take advantage of larger scale operations (known as economies of scales in economics).  No doubt bullish for bitcoin to continue to have so much ongoing attention on (and investing into) bitcoin mining, even though smaller operations do seem to continue to get forced out.

[tranthidung]

Hi WO gang,

Today I'd present you the visual plots of bitcoin price and percent of difference of transaction fees. For details, please visit the thread. Enjoy!

People are forced to accept higher fees with bitcoin increase or they accepted it from their own sides.

In 2020

• Median of transaction is $2.3 per kb, with the interquartile range is $1.2 to $4.9.
• In October: median is $5.1 per kb, with the interquartile range is $3.7 to $7.0. It means most of impatient people are paying more fees (more than 179%) in this month. It is the third highest month in 2020, just behind May and August.
• Fee (reflects in fee difference) usually increases with bitcoin rises. I guess the reasons can be selling forces are dominantly from people who have available BTC on exchanges with BTC falls (investors hold in this case). In contrast, more investors will accept high fee and move their BTC from personal wallets to exchange wallets to cash out with BTC rises.

In 2020

• median: Median of fee per kb (in USD) by each date
• median_y: Median of fee per kb (in USD) for the whole year 2020 so far
• fee_dif = median - median_y.
• fee_difpc = (median - median_y)/median*100.

In the plot, the median_y value is presented by a red horizontal line.

Bitcoin price and fee difference (in %)

• In plots, I used multipliers for fee_difpc variables simply to make more visually comparative.
• Median: calculated as same as above
• Median_y: calculated for specific period: 2020 only or from 2019 to 2020.

[Phil_S]

[Karartma1]

How can one not love bitcoin? Look how beautiful that green line is: its unpredictability and readiness to jump over the sky is beautiful.
Gold and silver? Look at them, boring.

[psycodad]

In other news, remember the WinNuke or Ping of Death from the last millennium?

Microsoft has upgraded it to IPv6...:

...
A remote code execution vulnerability exists when the Windows TCP/IP stack improperly handles ICMPv6 Router Advertisement packets. An attacker who successfully exploited this vulnerability could gain the ability to execute code on the target server or client.

To exploit this vulnerability, an attacker would have to send specially crafted ICMPv6 Router Advertisement packets to a remote Windows computer.

The update addresses the vulnerability by correcting how the Windows TCP/IP stack handles ICMPv6 Router Advertisement packets.
...

* psycodad is still sure Microsoft could easily outperform Dyson with things that suck hard

[NeuroticFish]

Gold and silver? Look at them, boring.

Some do love it to be boring. Not everybody can stand the days when a simple look at the market does more than drinking one RedBull.  
Bitcoin-as-investment, however wonderfully goes to the sky sometimes, is clearly not for everybody.

[Arriemoller]

Well..
That was a ride

Weird when you see it jump like a Mofo then it goes back to when you came in to the chart.
Then most disappointing feeling to say the least.

Cue the tv meteorologists drawing a penis on the weather map gif...

Not a gif. but a character from early 80s making fun of a Swedish weather presenter that was extremely nervous in her first appearances on TV.

https://www.youtube.com/watch?v=pcf9szTNTbs

He made short comedic bits that was shown in between programs on TV when I was young.

Like this one https://www.youtube.com/watch?v=ma_yIWQEqWk

and this one https://www.youtube.com/watch?v=85VyYYzvRrU

[Paashaas]

Schnorr and Taproot Upgrade Proposal Merged Into Bitcoin Core.

The implementation of the Schnorr/Taproot consensus rules has been merged into Bitcoin Core. However, the upgrade's activation method has yet to be determined.

The pull request was originally created by Bitcoin Core contributor Pieter Wuille on September 13th and has gone through extensive review and testing over the past month. Over 150 developers also participated in a 7-week review club for the proposal which was led by Anthony Towns back in November of 2019.

This upgrade has been highly anticipated due to its potential to increase Bitcoin’s smart contract capabilities while simultaneously benefiting its transactional privacy.

[Karartma1]

Schnorr and Taproot Upgrade Proposal Merged Into Bitcoin Core.

The implementation of the Schnorr/Taproot consensus rules has been merged into Bitcoin Core. However, the upgrade's activation method has yet to be determined.

The pull request was originally created by Bitcoin Core contributor Pieter Wuille on September 13th and has gone through extensive review and testing over the past month. Over 150 developers also participated in a 7-week review club for the proposal which was led by Anthony Towns back in November of 2019.

This upgrade has been highly anticipated due to its potential to increase Bitcoin’s smart contract capabilities while simultaneously benefiting its transactional privacy.

God save us from any upgrade's activation method debate! I am not ready for a segwit, no2x, big block kind of drama now. We have other things to do. 

[onecall123]

Well..
That was a ride

Weird when you see it jump like a Mofo then it goes back to when you came in to the chart.
Then most disappointing feeling to say the least.

I'm in the same boat buddy! It's all clueless.... 

[cAPSLOCK]

re:dumpenings and silly bear domination gifs

No.

Its my belief that bitcoin is still at the beginning of a exponential s-curve adoption phase. I think selling only what is necessary at this point is probably a good idea for most.

Now is the time for accumulation. This is the way.

MSPAINT.exe Agrees with you 100%!

[yslyv]

Will PlanB's model keep working or not? Looks like he struggled so much to find out this S2F model that matching with bitcoin price. But acuracy is easy for such model till 2020 that price is max around 10 - 12k. But lets see if it will keep working fine and bitcoin will push till 100k usd next year   

[Paashaas]

Schnorr and Taproot Upgrade Proposal Merged Into Bitcoin Core.

The implementation of the Schnorr/Taproot consensus rules has been merged into Bitcoin Core. However, the upgrade's activation method has yet to be determined.

The pull request was originally created by Bitcoin Core contributor Pieter Wuille on September 13th and has gone through extensive review and testing over the past month. Over 150 developers also participated in a 7-week review club for the proposal which was led by Anthony Towns back in November of 2019.

This upgrade has been highly anticipated due to its potential to increase Bitcoin’s smart contract capabilities while simultaneously benefiting its transactional privacy.

God save us from any upgrade's activation method debate! I am not ready for a segwit, no2x, big block kind of drama now. We have other things to do. 

I don't see any form of resistance so it will be much easier to get consensus for this than segwit, expect activation to take some months ore even spring 2021.

https://en.bitcoin.it/wiki/Taproot_activation_proposals

[Krubster]

The MtGox Rehabilitation Trustee delayed the deadline for another 2 months.

October 15, 2020

To whom it may concern:

Rehabilitation Debtor: MTGOX Co., Ltd.
Rehabilitation Trustee: Nobuaki Kobayashi, Attorney-at-law

Announcement of Order to Change Submission Deadline for Rehabilitation Plan

The Rehabilitation Trustee is currently formulating the rehabilitation plan, but as there are matters that require closer examination with regard to the rehabilitation plan, it has become necessary to extend the submission deadline for the rehabilitation plan. In light of the foregoing, the Rehabilitation Trustee filed a motion to seek an extension of the submission deadline of the rehabilitation plan at the Tokyo District Court, and, on October 14, 2020, the Tokyo District Court issued an order to extend the submission deadline for the rehabilitation plan to December 15, 2020.

https://www.mtgox.com/img/pdf/20201015_announcement_en.pdf

It only got delayed 2 months this time. I'm cautiously optimistic.

[Toxic2040]

morning snap shots


#dyor


6h


12h


3D

#stronghands

[VB1001]

Bitcoin Optech Newsletter #119

This week’s newsletter relays a security warning for LND users, summarizes discussion about LN upfront payments, describes a mailing list thread about updating bech32 addresses for taproot, and links to an updated proposal for an alternative way to secure LN payments. Also included are our regular sections with summaries of a Bitcoin Core PR Review Club meeting, releases and release candidates, and notable changes to popular Bitcoin infrastructure software.

https://bitcoinops.org/en/newsletters/2020/10/14/

[BlackHatCoiner]