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

[hv_]

The true sign of intelligence is not knowledge but imagination.

Albert Einstein

Backed by honest and incentivized miners doing all that math for you, cause you pay for

[1714291915]

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[Torque]

may we change the unit ?

https://twitter.com/PeterSchiff/status/1352625339944607744

The idea that Bitcoin is scarce as there's only 21 million is nonsense.

One #Bitcoin merely represents an arbitrary quantity of 100 million Satoshis.

So, it's the total number of Satoshis that must be considered. With a supply of 2.1 quadrillion Satoshis are anything but scarce!

man, is this schiff guy such a dim light? look at a kilogram of gold. that is 1000g of gold.

1 gram of gold is 1000000000 ng

1000gram of gold is 1000000000000 ng which is one trillion nanograms. one trillion ng is anything but scarce!  


do we really need to discuss with guys that full blown stupid?

divide a pizza 1 trillion times and feed the world forever with it? jeez...

Peter Schiff knows what he said is complete nonsense. He's just gaslighting, as usual.

I'm sure his next tweet will be something like "Why would anyone want to wait 10 whole minutes to have a Bitcoin transaction verified?? I can hand someone a gold coin in mere seconds!" 

[JayJuanGee]

Time to HODL I guess  

Friday was strong trading day as Bitcoin gained 8.5%. Today my 4 hr chart is showing sideways movement though RSI is showing upward Trend. Price is likely to remain Range bound.

"likely to remain Range bound"

What does that mean?  What range are you referring to?  Better to be a bit more specific when you are attempting to make some kind of meaningful BTC price dynamics proclamation.  AmInotrite?

Shitcoins are at it again.

I guess now that bitcoin is dead and there are massive bugs in the code, it is time for all the institutions to divest and inject it into the one true coin.... Chainlink, or perhaps "insert random shitcoin name".

lololol, shitcoins. Some real long-term potential right there.

History is littered with technologies and companies which were too big to fall or too ignorant to innovate.

Bitcoin is the biggest and undisputed crypto asset right now, but this is not guaranteed forever.

Ignoring a lot of interesting and potentially disruptive development in the altcoin space is short sighted.

After all, isn't it exactly what banks, big names and investment funds have been saying about Bitcoin, until they didn't.

You sound a bit lost, luke997.

Sorry.  I hope that you are able to recover, at some point.   

[600watt]

the main drivers of the modern era starting in the renaissance are technology, science and capital. the europeans were the first ones who were able to position those forces in an self amplifying set up and this enabled them them to conquer the world in the 19th century. the US americans founded their economy on those strong forces and were able to americanize the world in an entire century of pax americana during the 20th century. the 21th century could be dominated by hightech asian nations with strong emphasis on markets/capitalism and science.

i think it is fascinating that the breakthrough in computer science we call bitcoin is a technology that resembles pure capital itself. it almost seems to be the case that an alchemist wizard that called himself satoshi was able to take all three main forces of modern age, threw it into some big computational/digitization bowl, added some game theory spice and BOOM - created a self fulfilling NGU value accruing feedback loop that no one and nothing can stop. bitcoin is pure tech, pure capital and pure science melded into a creature that will eat all analog value existing. 

edited

[Chrystora123]

https://twitter.com/themooncarl/status/1353008340570427392?s=21

BTC 🚀 to moon..

[Biodom]

Getting bored of all that bitcoin vs shitcoins rhetoric.

We all know what the dominant force is-it is, of course, bitcoin.
Very similar to the dominance of humans on the planet Earth.
However, do we, humans, need a biosphere to survive? For the moment-yes, of course, but our increased dominance (that is proceeding relentlessly) would eventually result in, basically, a paved planet. We are probably just a few hundred years away.

Whether you think that bitcoin needs a "cryptosphere" or not-both sides have an argument to make.

One would be that bitcoin needs a 'cryptoshere' and another would be that it is all a nuisance.
On one hand, we are trying to replace the old malfunctioning financial system and frequent 'shitcoin' distractions are that-a deviation (wrong path) from the main topic.
On the other hand, we might learn something new from the "shitcoin mutations" to incorporate or adapt to bitcoin if/when we need it.

I am fine not discussing "shitcoins" here, but sometimes there could be a point of reference or two.
I am spending 90% of my time that is dedicated to 'bitcoin+etcetera' thinking about bitcoin.
10% -to everything else, mostly to understand what is new and useful and, g-d forbid, maybe make some cap gains while doing that.

[FIFA worldcup]

BTC 🚀 to moon..

[yefi]

It was first thing I did when I bumped into Bitcoin in 2012.

Except your account was registered in 2014 and has a six year gap in post history, which is not suspicious at all...

[jojo69]

[Dabs]

Bitcoin is the biggest and undisputed crypto asset right now, but this is not guaranteed forever.

Ignoring a lot of interesting and potentially disruptive development in the altcoin space is short sighted.

I think this is the statement where some folks here take issue. I will try to address them in this reply.

1. Bitcoin may not last forever, it is not guaranteed, but the longer it stays alive, the longer it's predicted to live. For all intents and purposes, Bitcoin is going to outlast every one in this thread. None of us here will live to see the day the last bitcoin is mined in 2140. Forever is relative. Humans have been on this planet "forever". But really, maybe only a few million years? The sun is about 4 billion years old. From one lifetime perspective, a hundred years is effectively "forever". I know it is not. You know it is not. But if you actually live to be 100, then you've been around "forever."

If you want a real number, I predict Bitcoin will still be running 200 years from now.

2. Anything good that comes out of the altcoin space, if it's really good, will get included in bitcoin. If it's not good enough or unnecessary or might cause problems or might cause conflicts, it will get delayed or not included at all. They can keep doing it in their respective altcoins.

People are always complaining about buying coffee with bitcoin, that waiting 10 minutes for a confirmation and a transaction fee that costs more than the coffee, well, it's the wrong "value". Not on the base layer anyway. You're not getting in between the consumer and the merchant, that's what Apple/Android Pay is for. That's what visa and mastercard and debit is for. You tap a piece of plastic on some terminal and they don't ask for a physical signature anymore for anything under $100, including your coffee.

You want finality of settlement in an hour, or a certified check/bank draft/money order that clears in an hour, to move $100 million dollars with a $5 fee across international borders "instantly" and verified and audited automatically every ten minutes by more than ten thousand computers in all jurisdictions? Bitcoin.

You want to try moving $100 million dollars worth of physical gold from Tokyo to Paris? $250k "transaction fee" and takes a few weeks.


I have a prediction for the next 10 years if it's just about price or marketcap. More than $100k USD but less than $1m USD.

As regards the trilemma, Bitcoin does have all three of security, scalability and decentralization. Maybe not just what we were really expecting.


The phrase "Bitcoin Maximalist" was coined by no other than Ethereum co-founder Vitalik Buterin. Because reasons.

Now I like his contribution and I profit from it's existence, but if you want something that will stick around for literally a hundred years and not lose value, put it into Bitcoin. ETH1 is not going to stick around for a hundred years. Probably will die as soon as everyone migrated to ETH2. ETH2 will not last a hundred years either. There will most likely be an ETH3 in the next couple of decades.

Now, LTC ... maybe, just maybe, it will also last a hundred years. The devs working on it are many of the same devs working on Bitcoin anyway.

[JayJuanGee]

I have a prediction for the next 10 years if it's just about price or marketcap. More than $100k USD but less than $1m USD.

A pretty damned conservative prediction Dabs - and surely in 10 years, there is way the hell more upside potential than between $100k and $1million, but at the same time we cannot necessarily count our chickens before they are hatched, and for that reason I take the 208-week moving average and I expect (hope) for that 208-week moving average to move up 10% to 12% per year, so that 208-week moving average is approaching $8,300 and is moving up about $100 per week in recent times... so 10-12% increases per year is likely only going to get me about a tripling of the price, which would ONLY put the BTC price at some point below the current price in 10 years... hahahahhahaha

So, yeah, my expectations of BTC performance is even more conservative than yours, but I still expect that BTC's upside potential is much greater than the $100k to $1million range that you had given, even though none of us should be counting our chickens before they hatch.. that's for sure.

[Hueristic]

Weak hands...smh  


https://twitter.com/zackvoell/status/1352667719481618432

They need to change the company name from NexTech to NotTech.

[Chrystora123]

BTCitcoin vs Shitcoin

snip..

snip..

[Torque]

Weak hands...smh  


https://twitter.com/zackvoell/status/1352667719481618432

They need to change the company name from NexTech to NotTech.

If they really sold because they "think" that a double spend has occurred, then they are the biggest idiots known to man and deserve to be no-coiners.

Edit: Saw on the thread that they held for less than a month. 

[Biodom]

Weak hands...smh  


https://twitter.com/zackvoell/status/1352667719481618432

They need to change the company name from NexTech to NotTech.

Still, they did better than D. Portnoy   /s

[JimboToronto]

https://www.coindesk.com/institutions-buy-bitcoin-dips-price-volatility

...the total bitcoin transactions on the network remains high, according to data from South-Korea based blockchain analytics firm CryptoQuant. However, the ratio of bitcoin transfers involving all exchanges to all bitcoins transfers network-wide has not gone up, indicating that most transactions were done through over-the-counter (OTC) deals, a preferred approach by institutional investors...

...“Only 7% of network transactions are used for exchange deposits and withdrawals,” Ki Young Jun, chief executive at CryptoQuant, said, adding that “93% of transactions in the Bitcoin network is used for non-exchange transactions like OTC deals.”...

...This “buying-the-dip” behavior by institutions such as MicroStrategy isn’t something new. A fourth-quarter market report from OKEx Insights, the research arm of crypto derivatives exchange OKEx, shows that institutional investors did not take “the-wait-and-see” approach when prices were experiencing high volatility last year...

...The recent price volatility is due to “over-leveraged” speculative traders and retail investors who found themselves “weak-handed,” according to OKEx Insights Senior Editor Adam James...

...“There is little reason to assume institutional interest in the bitcoin space will suddenly disappear in 2021,” James said, noting MicroStrategy’s new bitcoin purchase and BlackRock’s interest in bitcoin futures. “Because institutional investors tend to have longer time frames in mind when investing, they are unlikely to be phased by January’s price decrease and potentially happy to make investments at lower prices.”

OTC trades... buy the dip... don't be weak-handed... longer time frames...

Seems the institutional professionals think the same way we WOers do.

The rich get richer and the poor get altcoins poorer.

[Tash]

If you try to be all serious and cant stand up to a joke.



Lets have a prayer
https://web.archive.org/web/20210123204754/https://www.reuters.com/article/us-vatican-bank-trial-idUSKBN29Q27S

[philipma1957]

the main drivers of the modern era starting in the renaissance are technology, science and capital. the europeans were the first ones who were able to position those forces in an self amplifying set up and this enabled them them to conquer the world in the 19th century. the US americans founded their economy on those strong forces and were able to americanize the world in an entire century of pax americana during the 20th century. the 21th century could be dominated by hightech asian nations with strong emphasis on markets/capitalism and science.

i think it is fascinating that the breakthrough in computer science we call bitcoin is a technology that resembles pure capital itself. it almost seems to be the case that an alchemist wizard that called himself satoshi was able to take all three main forces of modern age, threw it into some big computational/digitization bowl, added some game theory spice and BOOM - created a self fulfilling NGU value accruing feedback loop that no one and nothing can stop. bitcoin is pure tech, pure capital and pure science melded into a creature that will eat all analog value existing.

edited

The concept of burning power to create wealth was brillant.

Which is why I argue against all pos coins.

I argue against all coins that use BTC algorithm.  You only need BTC to use that Algorithm
I argue against all centralized coins like ETH.

I do think a few lessor coins burning burning on a different algorithm are worth while.

All the fools that argue buring power to make coin are small minded fools.

I have seen solar arrays built in under 6 years (2016) be fully paid off due to mining BTC. They now have 15-20 years left before they break and they are already  fully paid off.

BTC with proper power use could pay for solar panels everywhere and anywhere.
As could LTC+DOGE and a few other coins with a few other algorithms.  We have the tech right now to grow solar 20x in under 10 years.  Mining coins mostly BTC could do this for us.

I prefer 3 tier system but Others do like BTC as a standalone.

The idea of 1000+ coins of which hundreds are POS is pretty sad.

[Hueristic]

HODLsleep

HODLsleep

Dblspend spotted.


SELL!

[serveria.com]

HODLsleep

HODLsleep

Dblspend spotted.

OMG we're doomed! Sell all your BTC NOW!