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

[OutOfMemory]

^ considering the long wick of the currently developing weekly candle, bears seem to be in control at the moment.

This seems way too negative, OOM.

We get a wee bit of a slow down of the UPpity, and all of a sudden you conclude that bears are in control.  Fuck the bears.. they are not in control of shit.. at this time... at least NOT in bitcoin.

Hold on, JJG. I was argumenting in short term context. Bears "control" that weekly candle.
Mid-term i'm not bearish at all. All the bears can use the infamous length of rusty pipe on the back of themselves, imho  

EDIT: Please look at the quotes around "control" (above)

[1715634762]

1715634762

[1715634762]

1715634762

[1715634762]

1715634762

[1715634762]

1715634762

[600watt]

to all the € haters:

About 37.82% of the Swift cash transfers were handled in euros last month, the largest portion since February 2013. This was an increase of more than 6 percentage points from the end of last year.

The U.S. dollar’s usage fell about 4.6 percentage points from December to 37.64% of transactions last month. The dollar peaked at 45.3% in April 2015. The British, Japanese and Canadian currencies together held 12.25% of transactions in October.

https://www.bloomberg.com/news/articles/2020-11-19/euro-tops-dollar-as-payments-currency-for-first-time-since-2013?sref=KUEUnb10

[marcus_of_augustus]

I love when critics like Ray Dalio have bitcoin in their frontal lobe 24/7, and are forced to continue to defend their position against it.

Must be so frustrating for him...salty.

https://twitter.com/RayDalio/status/1328731042690306048

 ... he's not even asking the right questions so a ways to go for him yet, imho.
... however Dalio appears to be bitcoin curious, if he's not outright bullshitting, so his journey has begun.

.... the mainstream 'smart money' is looking in bitcoin's direction, early ones are already here and others are on the move


Should be epic. Like a $8000 towel, $54000 First Edition metallic trezor with a failed screen and a $$270,000 prototype PCIe ribbon extension cable with incorrect power wire breakouts!  (In his defence cablesaurus replaced the PCIe cable without charge, can't say the same about the FE trezor yet)

[JayJuanGee]

Not selling anything until $50k. I hedl for 2 extra years since the price was $20k so this extra hodling time should be properly remunerated.    

Selling is not my concern right now. "When can we buy more?", is what I'm thinking atm

You have had nearly 3 years to buy MOAR... so difficult to know what to say... atm...

sucks to NOT have been adequately and sufficiently pee pared for UPpity, no?

 

Ha my household budget is calculated in an extremely orthodox way. Not a single penny that I cannot afford to lose, will be lost in this family, no matter how high or low BTC prices are

Hm?  So you are saying that you have been meticulous with your household income over the past 3 years, and you have also been buying BTC over the past 3 years but you still were NOT able to get enough lilly fiends?  I am not trying to impose the conditions of anyone else upon you.. that's for sure.. so there are likely exceptions and maybe my comment to you was a wee bit too harsh?  Perhaps?

^ considering the long wick of the currently developing weekly candle, bears seem to be in control at the moment.

This seems way too negative, OOM.

We get a wee bit of a slow down of the UPpity, and all of a sudden you conclude that bears are in control.  Fuck the bears.. they are not in control of shit.. at this time... at least NOT in bitcoin.

Hold on, JJG. I was argumenting in short term context. Bears "control" that weekly candle.
Mid-term i'm not bearish at all. All the bears can use the infamous length of rusty pipe on the back of themselves, imho  

EDIT: Please look at the quotes around "control" (above)

I think that my comments pretty much speak for themselves, even if I did NOT mean anything personal.

I am trying to make substantive responses in a quasi-public thread attempting to address both broader ways of thinking about questions of where we might be at (price-wise) and where we might be going... and I still doubt that it is helpful to suggest that bears have somehow taken over, even if just referring to short-term.. it is a problematic phraseology.. even if it might end up playing out.. .... in other words, way too soon.. to come to that conclusion.. in my current thinkenings.. as I already largely said in my earlier post.

[OutOfMemory]

^ considering the long wick of the currently developing weekly candle, bears seem to be in control at the moment.

This seems way too negative, OOM.

We get a wee bit of a slow down of the UPpity, and all of a sudden you conclude that bears are in control.  Fuck the bears.. they are not in control of shit.. at this time... at least NOT in bitcoin.

Hold on, JJG. I was argumenting in short term context. Bears "control" that weekly candle.
Mid-term i'm not bearish at all. All the bears can use the infamous length of rusty pipe on the back of themselves, imho  

EDIT: Please look at the quotes around "control" (above)

I think that my comments pretty much speak for themselves, even if I did NOT mean anything personal.

Yep. Didn't take anything personal.

I am trying to make substantive responses in a quasi-public thread attempting to address both broader ways of thinking about questions of where we might be at (price-wise) and where we might be going... and I still doubt that it is helpful to suggest that bears have somehow taken over, even if just referring to short-term.. it is a problematic phraseology.. even if it might end up playing out.. .... in other words, way too soon.. to come to that conclusion.. in my current thinkenings.. as I already largely said in my earlier post.

I agree on "poblematic phraseology". In fact, it's problem oriented, but i didn't want to create the assumption that "bears have taken over", i prolly should have written "bearish moves have more weight at the moment". However, what bears do, on the other hand, is keeping the increasing price down - or delay the constant uptrend we all are observing since weeks/months now. Bears create buying opportunities, mainly for dipseekers, like me. I don't want to seem like somebody who is seeing "bears" positive (or negative). I try to think opportunity-based in this manners.
But yes, when in a hurry, i tend to express myself rather not-so-precise, more often than not.

[friends1980]

(...)

Hm?  So you are saying that you have been meticulous with your household income over the past 3 years, and you have also been buying BTC over the past 3 years but you still were NOT able to get enough lilly fiends?  I am not trying to impose the conditions of anyone else upon you.. that's for sure.. so there are likely exceptions and maybe my comment to you was a wee bit too harsh?  Perhaps?

I'll be more careful in my smiley selection next time, before I give the impression I actually seriously would love to see BTC price go down to $100 to buy more. So nope, no regrets here. But buying more at this moment + at the current price is something I would indeed not define as meticulous investment. Would be a different story should market cap continue to increase in the next few days and weeks...

you still were NOT able to get enough lilly fiends?

edit: I'll NEVER have enough of those

[JayJuanGee]

^ considering the long wick of the currently developing weekly candle, bears seem to be in control at the moment.

This seems way too negative, OOM.

We get a wee bit of a slow down of the UPpity, and all of a sudden you conclude that bears are in control.  Fuck the bears.. they are not in control of shit.. at this time... at least NOT in bitcoin.

Hold on, JJG. I was argumenting in short term context. Bears "control" that weekly candle.
Mid-term i'm not bearish at all. All the bears can use the infamous length of rusty pipe on the back of themselves, imho  

EDIT: Please look at the quotes around "control" (above)

I think that my comments pretty much speak for themselves, even if I did NOT mean anything personal.

Yep. Didn't take anything personal.

I am trying to make substantive responses in a quasi-public thread attempting to address both broader ways of thinking about questions of where we might be at (price-wise) and where we might be going... and I still doubt that it is helpful to suggest that bears have somehow taken over, even if just referring to short-term.. it is a problematic phraseology.. even if it might end up playing out.. .... in other words, way too soon.. to come to that conclusion.. in my current thinkenings.. as I already largely said in my earlier post.

I agree on "poblematic phraseology". In fact, it's problem oriented, but i didn't want to create the assumption that "bears have taken over", i prolly should have written "bearish moves have more weight at the moment". However, what bears do, on the other hand, is keeping the increasing price down - or delay the constant uptrend we all are observing since weeks/months now. Bears create buying opportunities, mainly for dipseekers, like me. I don't want to seem like somebody who is seeing "bears" positive (or negative). I try to think opportunity-based in this manners.
But yes, when in a hurry, i tend to express myself rather not-so-precise, more often than not.

It is possible that we are getting a bit more into semantics rather than substantive differences, yet in that sense, I do get in frequent battles about phraseology - so it is not meant to be personal in nature.

I do personally try to remove my own wishes, somewhat from my discussions of anticipated price direction, but surely there is likely ongoing bullish skewings in my way of posting, so i do get a bit irritated by down predictions, unless they are couched more delicately.

If you saw some of my earlier posts, I did mention that we have been having so much UPwards BTC price movements without correction, so down movement would almost be inevitable.. even though it is not inevitable to happen now, and it could wait until we go up before down... so surely I would not be surprised by down movement even though we continue to have a decent amount of continued ongoing upwards price pressures.

(...)

Hm?  So you are saying that you have been meticulous with your household income over the past 3 years, and you have also been buying BTC over the past 3 years but you still were NOT able to get enough lilly fiends?  I am not trying to impose the conditions of anyone else upon you.. that's for sure.. so there are likely exceptions and maybe my comment to you was a wee bit too harsh?  Perhaps?

I'll be more careful in my smiley selection next time, before I give the impression I actually seriously would love to see BTC price go down to $100 to buy more. So nope, no regrets here. But buying more at this moment + at the current price is something I would indeed not define as meticulous investment. Would be a different story should market cap continue to increase in the next few days and weeks...

you still were NOT able to get enough lilly fiends?

edit: I'll NEVER have enough of those

We might see this a bit different, or probably I am just in a different investing stage in my life.

I started out in bitcoin with already having decent investments in traditional assets, so largely I already had a decent amount of investment funds that I largely just needed to invest into bitcoin (which took me about a year to accomplish to move value from other assets to BTC)... and that was in 2014... so by the time the end of 2014 came along, I already felt like I had enough of a stake that I was prepared for UP.

On the other hand, I do kind of see where you are going with your idea about feeling that you might NOT have enough BTC... So in that regard, for the next couple of years 2015 and 2016 I continued to accumulate on dips and things like that.  When the BTC price went shooting up in 2017.. I thereafter did not feel as much compulsion that I needed more BTC, and I think part of the deal was that in 2015 and 2016, I had stocked BTC a bit beyond my authorization of prudence, and when the BTC price went up, the value of the BTC dwarfed my other investments causing me to believe more that I have enough BTC, ... especially relative to my other investments.

So, yeah, there may be some differing comfort levels based on starting points and also based on my having had stacked up earlier than you.. perhaps?

[friends1980]

(...)
So, yeah, there may be some differing comfort levels based on starting points and also based on my having had stacked up earlier than you.. perhaps?

Exactly. I've probably told this before but at the time I learned about BTC, I was a student with no money to invest. And once I was at the point of being able to "afford to lose", we were already at "now or never" mid-2017 prices. I would be stupid to claim not wishing to have a bag of BTC on the side now (although I only want enough to have the freedom of not having to work as opposed to Lambos and champagne ), but I sincerely can't regret not having taken such investment risks at a time when I could hardly put some spare money aside.

[_javi_]

I enjoy reading the thread these days.

Great posts, specially those from 600watt

thanks a lot! Merits depleted.

[xhomerx10]

So every once in awhile I look at my Porsche and think "Damn that thing is worth a lot given the 2 bitcoins I paid for it". The value of having it these past few years is amazing, but those bitcoins would have bought other things now. Time however is something you can't replace.

I wonder if Bob is going to look at his liberated and lubricated ex-wage-slave and think "damn that boy's ass is worth a lot given the X bitcoins I paid to bail him out of bondage".

I'm afraid me paying 30 BTC for my Ducati is not going to age any better then it already has so far.... But like Bob said, absolutely no regrets!!

You mean the one that you crashed a few weeks later, or a different one?

 

My face is starting to slip away from my skull, yo.

This rocket has some high-grade fuel, yo.

We might hit $18K today at this rate.
This shit remind me of late 2017. The craziest thing is that this bull market is just getting started though.

How could it remind you of late 2017 when we have not even reached the previous ATH.. ?   hardly makes any senses...

@JayJuanGee Today I am writing here on this thread first time because I am new to this forum and in this community trying hard to understand someone suggest me if I want to understand this all then I have to read your posts very carefully so I already done and read some good number of pages look like its very interesting for me but still want to ask can you give more tips to understand this all thanks.

 Motherfucker!

Very Nice and Thanks 

 It's not meant for you but for the person who directed you to ask JJG.

This really cracked me up! The funniest post I've read in many pages  For such advices we have a saying in our country: To send someone for green caviar.

 It's such an wonderful feeling to be understood and I'm always interested in reading idioms used in other cultures.  Thank you!
 
 In case you're reading this Mr. JayJuanGee, Happy Thursday!
 We love you. 
 
#nohomo

[savetherainforest]

Have i been talking to walls the past 3 years? Or just Baby boomers? Im out of this bs, anyone sent me  PM when they will wanna give me my Coins back or finance some real skill. Peace

As the n00b buthurt protestors say sometimes: "White Supremacy!!! That's illegal."

[friends1980]

blah?

blah!

@JJG whilst writing my reply to your post I realized I have my old PC tower from years ago still standing here hardly a few meters away from me in my office.

I am 100% certain there's BTC (and probably also LTC) mining software on this drive as I remember playing with it at the time. I am however not 100% certain if there's any BTC or LTC on this thing and - even though it's been years ago - I'd probably remember if there was. Internet at the student dorm was a pain in the buttocks at that time.

Now how am I going to bring this dinosaur to life on a MX Linux laptop...



I won't get my hopes up too high, but damn wouldn't that make a great story.

[AlcoHoDL]

@^^^ Easy. Just buy a PATA-to-USB adapter. They come complete with PSU, and should cost no more than $10. Warning: don't purchase with BTC!

And, yes, it would make a great story.

[friends1980]

@^^^ Easy. Just buy a PATA-to-USB adapter. They come complete with PSU, and should cost no more than $10. Warning: don't purchase with BTC!

And, yes, it would make a great story.

There's a lot coming back to me now. I distinctly remember my room mate warning me this software was a recipe for viruses and problems (edit: not a lot has changed, come to think of it)

Thx for the tip. i'll check it out right away

[fillippone]

Wow, this is Hyuge.

Miners revenues (measured in dollars) are back to pre halving values.

No wonders mining is an ultra -competitive industry.
This let us only imagine how hard the miners must be tuning their software and operations to squeeze all those bitcoins.

#Bitcoin  miner revenue is back at pre-halving levels.

Chart: https://studio.glassnode.com/metrics?a=BTC&c=usd&m=mining.RevenueSum

https://twitter.com/glassnode/status/1329150613255573505?s=20

[Paashaas]

Taproot upgrade is now supported by 25% of the network hash power. Supported so far by Pooling, Slush pool and Btccom.

F2Pool + AntPool joined the party making around 56% of the hashrate.

Getting consensus for Taproot should go smooth.

[philipma1957]

How can it be considered wiser to rent from an individual owner as opposed to 'renting' from the bank - you'd be obliged to either one and both could theoretically kick you out for non-payment.

How about, um, owning your own home?  As in:  Free and clear.

What a nice society you have:  The “American dream” of home ownership is truly dead, out of reach and unthinkable to the overwhelming majority of Americans.  It has been replaced by an illusion based on a false dichotomy between renting from the bank via an intermediary “landlord” who rents from a bank, and renting directly from the bank.

The banks own everything!  You are so immersed in debt culture based on debt-“backed” money and total submission to the banks, you cannot even see what is wrong with your proposition.

Bitcoin, and home ownership:  Be your own bank.  Be the king of your castle.

"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
😼 Bitcoin Core (onion)

Don’t get me started on the rents known as “property taxes”.  Are you even aware of how recent a development that is in the United States?
See also:

Historically, besides heritable class status, the single most effective guarantor of voter quality was a real property ownership requirement.  [...]

Naturally, I think that such a requirement must logically exclude mortgaged properties, which (especially in today’s society) are effectively rented from the bank.

Well my wife and I own our home "free and clear".
But we have to pay property taxes on the mofo. 
So a mortgage free home is nice but not as free and clear as one may think.

With covid-19 and my home state pretty much tapped out I am sure property taxes will 2x in under 10 years. 

So go btc go!

[friends1980]

How can it be considered wiser to rent from an individual owner as opposed to 'renting' from the bank - you'd be obliged to either one and both could theoretically kick you out for non-payment.

How about, um, owning your own home?  As in:  Free and clear.

What a nice society you have:  The “American dream” of home ownership is truly dead, out of reach and unthinkable to the overwhelming majority of Americans.  It has been replaced by an illusion based on a false dichotomy between renting from the bank via an intermediary “landlord” who rents from a bank, and renting directly from the bank.

The banks own everything!  You are so immersed in debt culture based on debt-“backed” money and total submission to the banks, you cannot even see what is wrong with your proposition.

Bitcoin, and home ownership:  Be your own bank.  Be the king of your castle.

"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
😼 Bitcoin Core (onion)

Don’t get me started on the rents known as “property taxes”.  Are you even aware of how recent a development that is in the United States?
See also:

Historically, besides heritable class status, the single most effective guarantor of voter quality was a real property ownership requirement.  [...]

Naturally, I think that such a requirement must logically exclude mortgaged properties, which (especially in today’s society) are effectively rented from the bank.

Well my wife and I own our home "free and clear".
But we have to pay property taxes on the mofo. 
So a mortgage free home is nice but not as free and clear as one may think.

With covid-19 and my home state pretty much tapped out I am sure property taxes will 2x in under 10 years. 

So go btc go!

If you have enough on the side to not have to work any more, is anything keeping you from moving to a country where there's no or lower property tax? Friends, family, children maybe? If not, I wouldn't hesitate, mate.

[savetherainforest]

But after it goes over 1 million $ . How will we consider the US dollar or mostly the traditional fiat currencies as viable comparison measure??              

[aesma]

Good feeling with the price these days. And I wouldn't mind a crash either, my buy orders are ready. If it got to this price twice it will go to it again anyway. I feel 4 digits is less and less likely to happen though, oh well, my bag will be big enough when 1 coin = millions of $ :d

About houses, I'm still looking, just found one that checks a number of boxes for me, aside from the price which is a bit above what I wanted, but I guess I can cancel some of the buy orders and add that fiat to the house if it's worth it.

I don't mind having to borrow money to a bank for it, after all it's just fiat. It could very well be worth much less in a few years, then paying it back would be that much easier. The mortgage repayment wouldn't be too high, less than minimum wage. I'd only borrow about half of the value of the house, so impossible to get upside down (at least here, where real estate never really crashes, at worst it goes down a bit). Also my brother is a banker :d And a far leftist, go figure.

Property taxes, that's another issue, they're not new here in France. There are two kinds in fact, one you pay because you live somewhere, even if you rent, one you pay because you own some place. The first one is being abolished, with other taxes supposedly covering the lost income, in practice there are fears it will mean the tax for owners will go up. Anyway the house I'm looking at would cost me more in property tax than what I pay in income tax, not great. At least it would cover the needs for a "second home", as it's basically a second home already (and was built as one), with a big park around, fireplaces, a view, no neighbours... My parents own two houses and the costs are staggering, even though the houses themselves weren't that expensive (and in good shape).