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

[philipma1957]

Hashrate estimated to drop by 16%.

Okex people jailed, rumours about huobi too.

Is this chinese miners getting scared because china is gonna ban bitcoin for real this time?


BTFD

No No No NO

It is rainy ending prices for power were

2-3 cents

now

4-6 cents

Thus miners turn gear off bigly.

If we have continued down turns of 5% the next two jumps then some other issue is happening.

[icopress]

Changed: Added source https://www.dietmareckell.com/Final Part III: Sea Cemeteries ^offtopic... / Abandoned military sites: Part I / Abandoned military sites: Part II

• Battleship Utah, Pearl Harbor. USA.

• The crash of a fighter jet in the coastal zone in 1947. USA.

• Twin-engine Douglas DC-3. The location is unknown.

• An old Canadian schooner that sank on the lake. Ontario in 1885.

• San Pascal was built in the USA from reinforced concrete in 1920, since 1933 it has been aground near Cuba.
  During the Cuban Revolution, San Pascal served as a prison for Che Guevara's army.

• In 2014, the large anti-submarine ship "Ochakov" was used as a barrier at the exit from the lake. Donuzlav (Crimea).

• Artillery cruiser of the Northern Fleet "Murmansk". Norway.

• Cala del contrabandista. Grecia.

[gallianooo]

I think maybe people are sending corn to exchanges in the anticipation of a potential dump as a reaction to the election results. Maybe if Trump wins they won’t dump but if Old Joe wins they’ll sell into a potential dump.

Either way, whatever. I’m selling nothing!

IDK..

I am not especially for the old Biden.. But hard to see Trump win again.

Put a 5K$ gambling bet on BIDEN at 1.45. Will see  

[marcus_of_augustus]

... I see some tail risk from the election result if Trump wins.

... it's possible the establishment's plan upon a resounding loss to Trump is to pull the pin on the financial system, which is shaky and doesn't need much to push it over.

... they have thrown every dirty trick at him from illegal investigations to Impeachment on charges to cover up their candidates financial crimes, some will be facing treason, sedition or illegal spying charges iff Trump wins so the stakes are high

... he is too much of a threat to their plans for a New World Order, the virus is also part of that plan I'm becoming convinced it was an intentional release by the Chinese as part of the global commie Great Reset plan, and it was released at a time to cause maximum damage to possibility of Trump reelection (also got rid of Bernie Sanders and shitty old insider Biden into the Dem candidacy)

... I have no idea how a massive financial crash and lock up of the banking system affects bitcoin, probably negatively at first, but it may equally immediately go nutz too.

The Great Reset

[JayJuanGee]

Let me share a curios and a little unpleasant story. In my country, a large part of the population ID's expires this year. The government has decided to extend this period by another year due to the covid crisis and to avoid crowds. So far so good. But I started receiving letters from all crypto exchanges that my ID has expired. And now I have to write letters to the support, to explain myself to them to give me access to my accounts. I do not currently have access to any exchange and I have to wait days, probably weeks for this issue to be resovled. This sucks.

I was denied a credit card because my DL was expired, even though my passport was valid. What does driving have to do with credit??? My bitcoin wallet never expires.

I was denied entry to a bar once because my DL had expired. I was 29 at the time.

My ID application was (almost) denied once, because the medical certificate to confirm my blood type was older than 6 months. I asked the lady if she thought my blood type could have changed since the test was done. She stared at me for 15 seconds. Then she accepted my documents.

I speculate that she was looking at your eye colors (maybe getting tinglies too.. if she could see that you had a lil fiend secret contained therein), and then looking at your ID... and since your eye color had not changed, therefore, probably your blood type had not changed, either... Go figure.

Missing 2016 - which is the four-year fractal comparison year...

Go figure?

[criptix]

Hashrate estimated to drop by 16%.

Okex people jailed, rumours about huobi too.

Is this chinese miners getting scared because china is gonna ban bitcoin for real this time?


BTFD

No No No NO

It is rainy ending prices for power were

2-3 cents

now

4-6 cents

Thus miners turn gear off bigly.

If we have continued down turns of 5% the next two jumps then some other issue is happening.

You need to continue your hashrate prediction thread!!!

Thank you for the explaination 

[philipma1957]

Hashrate estimated to drop by 16%.

Okex people jailed, rumours about huobi too.

Is this chinese miners getting scared because china is gonna ban bitcoin for real this time?


BTFD

No No No NO

It is rainy ending prices for power were

2-3 cents

now

4-6 cents

Thus miners turn gear off bigly.

If we have continued down turns of 5% the next two jumps then some other issue is happening.

You need to continue your hashrate prediction thread!!!

Thank you for the explaination 

Yeah not giving away btc any more but still running the thread.

Next two jumps and price flow are very important.

Hoping bull kicks ass but worried.

[600watt]

https://twitter.com/tracyalloway/status/1323416097891078145?s=21

these are the bridges bitcoin sceptics can use to move over to our side. to the side the is winning. and yes, hope needs to be part of the transition.

[600watt]

since bitcoin is a bearer asset it is possible to possess bitcoin. of course we all know that there are no physical bitcoin you send around the interwebs or keep them in your wallet - what you can physically own in reality are the private keys that allow you to spent your UTXO´s. be aware that the UTXO´s never leave the bitcoin network. it is a closed system. the bitcoin blockchain is a closed system: it is permissionless and p2p, but the info on the ledger never leaves the ledger.

1) bitcoin (the unit) can never leave the blockchain, where it is embedded
2) the only thing a bitcoin is pegged to is energy due to the mining process (impossible to directly peg a bitcoin (or any other blockchain token) to a physical object.) there are no utility coins possible due to this.
3) since it is a closed system that can only be pegged to energy there are only very limited use cases: the only thing a token in a closed system can be used for is if it represents something. imagine some weird machine that juggles table tennis balls. the balls can not leave the machine. what utility can the balls bring to users? they can represent something, that is it. what could they represent? the only abstract thing that would make sense to organize in an immutable ledger would be money. since moneys only use case is to represent value, this is the only use case for a token in a closed system.

blockchains can only be used as money. since bitcoin has won the race long ago and by far, it is utterly useless to create, invest in, waste time on 7500 additional money protocols.

money pegged to energy is the only way to go. unpegged money will get printed into inflation. gold pegged money will always first lose its peg and then will get printed into inflation. our fiat money system derived from a gold pegged system, the dollar is a layer 2 scaling solution for gold.

the 2020ies will bring the transition. don't be scared. bitcoin is great and will save us.


edit: typos

[DaRude]

This will be a good test for BTC. Expecting a lot of uncertainty/fear/volatility next few (possibly month) as such expecting markets to pull back and deleverage. If BTC drops it's still used as a highly leveraged speculative asset, if it rises when markets fall, we can finally decouple and then the moon.

tl;dr next 24hrs are critical

[bitebits]

Quite like this newly launched stats page: https://bitbo.io/

Bitbo is a real-time Bitcoin dashboard to monitor on-chain data, view live price action, and track key economic indicators.

[Lambie Slayer]

I think maybe people are sending corn to exchanges in the anticipation of a potential dump as a reaction to the election results. Maybe if Trump wins they won’t dump but if Old Joe wins they’ll sell into a potential dump.

Either way, whatever. I’m selling nothing!

IDK..

I am not especially for the old Biden.. But hard to see Trump win again.

Put a 5K$ gambling bet on BIDEN at 1.45. Will see  

I bet on Biden too. Wont mind losing as my taxes will be lower if/when I finally sell some coins. Win, win. 

Either guy will print tons of money so Bitcoin wins no matter what.

[FullNode]

#Bitcoin rewards those that understand basic math.

Shitcoins punish those that don’t understand basic math. 

https://twitter.com/Excellion/status/1323020377988059136

[El duderino_]

I think maybe people are sending corn to exchanges in the anticipation of a potential dump as a reaction to the election results. Maybe if Trump wins they won’t dump but if Old Joe wins they’ll sell into a potential dump.

Either way, whatever. I’m selling nothing!

IDK..

I am not especially for the old Biden.. But hard to see Trump win again.

Put a 5K$ gambling bet on BIDEN at 1.45. Will see  

I bet on Biden too. Wont mind losing as my taxes will be lower if/when I finally sell some coins. Win, win. 

Either guy will print tons of money so Bitcoin wins no matter what.

[icopress]

I bet on Biden too. Wont mind losing as my taxes will be lower if/when I finally sell some coins. Win, win.  

Either guy will print tons of money so Bitcoin wins no matter what.

Based on the preparations in New York ...

It is highly likely that Commander-in-Chief Biden will be in one part of the United States and Commander-in-Chief Trump in another.
The rest, in confusion, do not obey anyone and rely only on their Colt.

[Tash]

I think maybe people are sending corn to exchanges in the anticipation of a potential dump as a reaction to the election results. Maybe if Trump wins they won’t dump but if Old Joe wins they’ll sell into a potential dump.

Either way, whatever. I’m selling nothing!

IDK..

I am not especially for the old Biden.. But hard to see Trump win again.

Put a 5K$ gambling bet on BIDEN at 1.45. Will see  

Biden has 11 million Twitter followers, Trump 89
Maybe Democracy works in some mysterious ways and Twitter followers/likes have no meaning what so ever.

[fillippone]

We saw it coming, but it is a notable event.

We just observed the 2nd largest negative #Bitcoin  mining difficulty adjustment in history: -16%

It topped the -15.9% change in March this year.

The only other time difficulty saw a larger downwards adjustment (-18%) was over 9 years ago, in Oct 2011.

http://studio.glassnode.com/metrics?a=BTC&m=mining.DifficultyLatest&resolution=10m&zoom=365

https://pbs.twimg.com/media/El4ujGdXgAAuQsI.jpg

In case you have a spare half an hour this is a remarkable documentary made by some fellow Italian bitcoiners:

Digital Rush

Uploaded on 31 Oct 2020
The documentary The Digital Rush is about interviewing key figures in the bitcoin ecosystem and documenting the community and its events. A proper representation of the bitcoin proposition will be provided: cypherpunk movement, technological choices, monetary impact and cultural relevance, etc. It will emphasize the emergence of bitcoin as digital gold.

Aimed at a non-technical audience, the documentary will explain bitcoin using the words of its community members; their advanced (often geeky) technical comments will be properly framed between plain informative segments providing a gradual educational path.

It should also be available on Prime Video US and UK.

[soullyG]

Based on the preparations in New York ...

It is highly likely that Commander-in-Chief Biden will be in one part of the United States and Commander-in-Chief Trump in another.
The rest, in confusion, do not obey anyone and rely only on their Colt.

The Divided States of America?

When in doubt, HODL!

[600watt]

technology adoption always follows a s-curve. the beginning is flat, then it becomes exponential (looks like a hockey stick) and when mass adoption occurs it shoots straight up and only starts flattening when saturated (widely adopted).


when the new tech is money the graph not only shows the adoption of users but also the value of the money.

when rockets are fired up to reach space they need to carry enough energy to overcome earths gravity. they need to acquire escape velocity.  if they don't get over this threshold they could not leave earth.

bitcoin expands in short violent run-ups followed by years of loss of value and consolidation. this circular pattern conditions bitcoin hodlers to feel bad about "not selling at the top" in order to own a lot of cash and furthermore to later buy back more bitcoin, when price reached the bottom of the cycle.

especially when reaching "life changing" or "fuck you" amounts of money. especially when the hodler realizes that he/she could have escaped the rat race with that amount of fiat. since the bear markets are usually multi year, the hodler has plenty of time to develop this regret.

it feels bad to look back to previous all-time highs and punching the numbers in a calculator and figuring out how many btc one could have bought if and only if...      but be aware that there is another feeling that is even worse: having sold to early. remember all the posts in this forum where folks argued about how rational it was to take profits and sell btc for $20. or $200 or $2000

during one of the next giant run-ups bitcoin will reach escape velocity. which means the old game of multiyear bears will not occur anymore. bitcoin will enter the steep upward phase of the s-curve.

don't be a multiyear hardened btc hodler that finally learned how to sell at an anticipated local top only to see the price never coming back. develop a strategy to avoid this worst possible outcome: a bitcoin hodler with zero bitcoin in that moment of history when bitcoin is winning. with strategy I don't mean some weird trading strategy. trading btc is a losing game for 99% of players.


the only way to make sure you always have some bitcoin is to always keep some/most bitcoin.


my own strategy is very simple: when bitcoin reaches escape velocity I want to still own at least 50% of my stash. in my mind half my stash is reserved for my descendants. they are in Uber-cold storage. I will never touch them. I will never punch them in any calculator to figure out momentary fiat value.

with the other half I may or may not try to play the "sell at top" game. not convinced yet since all I would get for my precious btc is lots of melting dirty fiat. problem is that this is the only way ever for me to acquire more btc.  maybe I should only play that game with a quarter of my stash.

what is your plan?




edited

[FullNode]

what is your plan?

I have little btc so I allocate a monthly amount to increase my stash no matter how high or low the price is