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

[Chrystora123]

When Bitcoin marches up to the expected and unstoppable stratospheric levels of 2021-2022, everyone that knows about it will go insane.

Both coiners and nocoiners.

For different reasons.

HoDL.

#all we need is love HODL

[1615086560]

1615086560

[d_eddie]

(...)
But insurance will never cover the value of all the assets. Custody with insurance is a scam

Not saying you're wrong or right. Just wondering why you state this as a fact.

Well if done like bank accounts it would have a limit of 250,000 usd value.

But you would get that. I would argue it is better than btc in a wallet. If they set it up like a bank setups up a cash account.

And the key here is they'll be paying interest to hodl our precious coins. It's a win-win.

Likely interest is in fiat though. And I'd want to make sure such deposits are guaranteed by the bank security fund as if it were fiat... but at nominal crypto value. Otherwise, there could be several Gox like episodes.

[psycodad]

Dammit I missed it!  What was it!?

One dude finishing on another dudes face, uncensored.

 Well then, no wonder a cleanup was required.

Unfortunately, the internet never forgets (at least Loyce doesn't):

https://loyce.club/archive/posts/

/me bravely resisted temptations to post the direct link

[LFC_Bitcoin]

[El duderino_]

Actually I remember 6months to a year pre halving, that you said ... the halving will have no impact, nothingburger, between comrades... at that time? You truly thought so? I’m curious 

[JayJuanGee]

Some Titter analysts calling the top now.
I am still bullish and stay by the predictions of the tarot lady.
#hodl

Local top or what?

Still looking pretty damned bullish and ongoing UPpity price pressures to me - especially we keep getting back to the top of the range... so a little strange to either be calling the top or hopening for the top, given the total situation and context that we seem to be in.

I will concede that even the stock to flow model and the four year fractal... and possibly even the various exponential s-curve adoption models seems to show that the current BTC price is a wee bit ahead of itself, but so fucking what?  Since when has king daddy conformed with chartalism expectations?

[Evilish]

A lot of sideways movement past few hours. Things don't look very good in short term.



While moon is the most favorable outcome for most of us, a flash crash is welcome too because then we could put some more of that dirty fiat to good use.

Obligatory song to vibe to no matter the outcome: https://www.youtube.com/watch?v=_PXU0thDHCU

[strawbs]

And that is a big problem with this thing and the IronKey item: Anyone attempting recovery would know that a slip or error would result in wiping a quarter of a billion dollars of value off the earth, with the resulting "unhappiness" of whatever syndicate was funding the job.

The value will still remain but it will be distributed amongst all of us hodlers instead, as the more bitcoins are lost, the lower the supply, so the higher the value of each remaining btc  

And of course there will be even fewer than 21m if people keep throwing them to the bottom of landfill sites.

[BitcoinGirl.Club]

Good afternoon WO!
Observing @ $36,960

[OutOfMemory]

Some Titter analysts calling the top now.
I am still bullish and stay by the predictions of the tarot lady.
#hodl

Local top or what?

Still looking pretty damned bullish and ongoing UPpity price pressures to me - especially we keep getting back to the top of the range... so a little strange to either be calling the top or hopening for the top, given the total situation and context that we seem to be in.

I will concede that even the stock to flow model and the four year fractal... and possibly even the various exponential s-curve adoption models seems to show that the current BTC price is a wee bit ahead of itself, but so fucking what?  Since when has king daddy conformed with chartalism expectations?

Damn right.
Looks like Titter folks are in a rush, expecting BTC upswing to accelerate. If no acceleration -> fail.
And this perfectly fits the shitcoin society, where these fast pumps happen on a regular basis (followed by huge dumps, as we know).
We were in fact accelerating a bit too much, so things have to settle down a bit, and this is something the shitters don't commonly know.

I already bought (near) the dip a few days ago and i'm satisfied, because most of that value from shitcoin pumps will flow back at Bitcoin soonish, possibly also later.
Do we really care?  

EDIT:
I was up to spam WO with a nice alpine panorama pic from the drone, so i got out late afternoon to let the thing take off from an elevated spot between mountains.
Almost deep freezing my toes, i went home to check the results, where i found the memory card lying on the shelf 
So no landscape spam from me today...

[yefi]

There was nothing there to be unseen anyway.  It likely has more to do with the fact that the EU has the best animal protection and welfare laws in the world.  They wouldn't want you people getting any ideas about horses... other than eating them after they were humanely raised in captivity and euthanized for your nutritional requirements.

When put like that, it does sound ridiculous. But now I'm not sure if one should stop eating meat or start fucking animals.

[True Myth]

Pushing along the upper part of the main channel.  Steady ahead.

[Arriemoller]

There was nothing there to be unseen anyway.  It likely has more to do with the fact that the EU has the best animal protection and welfare laws in the world.  They wouldn't want you people getting any ideas about horses... other than eating them after they were humanely raised in captivity and euthanized for your nutritional requirements.

When put like that, it does sound ridiculous. But now I'm not sure if one should stop eating meat or start fucking animals.

According to islam, and I kid you not, it's ok to fuck a goat, (I think it was a goat) but you can not eat the meat of that goat, it is however ok to let neighboring tribes eat the meat.
Moral? Beware when invited for dinner.

[machasm]

(...)
But insurance will never cover the value of all the assets. Custody with insurance is a scam

Not saying you're wrong or right. Just wondering why you state this as a fact.

Well if done like bank accounts it would have a limit of 250,000 usd value.

But you would get that. I would argue it is better than btc in a wallet. If they set it up like a bank setups up a cash account.

And the key here is they'll be paying interest to hodl our precious coins. It's a win-win.

What’s to stop banks from running fractional reserve practices on our Bitcoin and putting us back in the same shithole Bitcoin was designed to get us out of?

[cAPSLOCK]

Hmm, who gets/already got the Gox shitcoin forks?

There was talk of dumping them apart from BCH

God that would make me happy.  Dumping the BCH too would make me happier.  No offence to the folks who had coins on GOX.

[Biodom]

(...)
But insurance will never cover the value of all the assets. Custody with insurance is a scam

Not saying you're wrong or right. Just wondering why you state this as a fact.

Well if done like bank accounts it would have a limit of 250,000 usd value.

But you would get that. I would argue it is better than btc in a wallet. If they set it up like a bank setups up a cash account.

And the key here is they'll be paying interest to hodl our precious coins. It's a win-win.

What’s to stop banks from running fractional reserve practices on our Bitcoin and putting us back in the same shithole Bitcoin was designed to get us out of?

This is actually two questions at once:
1. will they make fractional reserve bitcoins?
2. will they make fractional "something" that would be based on the underlying bitcoin, but "pyramid" on it?

I think #2 is much more likelier than #1 just because you don't need to choose the first option as you can simply follow the second option if the desired effect is "pyramiding".

[Biodom]

In the other news:

https://www.bloomberg.com/news/articles/2021-01-16/bitcoin-swings-undermine-cfo-case-for-converting-cash-to-crypto

They are trying to prevent conversion of corporate treasuries into bitcoin by warning about risks.
Yet, they are not talking about the debasement risk caused by the brrrr.
How come it become OK to lose 10-15% yearly to brrr, but not OK to have a 10-20% volatility AFTER you already increased your treasury account by 200% prior.
This quarterly (or weekly) thinking is beyond stupid.

[Arriemoller]

When I try to access etsy.com I get a blank white page, is it just me?

[Torque]

In the other news:

https://www.bloomberg.com/news/articles/2021-01-16/bitcoin-swings-undermine-cfo-case-for-converting-cash-to-crypto

They are trying to prevent conversion of corporate treasuries into bitcoin by warning about risks.
Yet, they don't talking about the debasement risk caused by the brrrr.
How come it become OK to lose 10-15% yearly to brrr, but not OK to have a 10-20% volatility AFTER you already increased your treasury account by 200% prior.
This quarterly (or weekly) thinking is beyond stupid.

Bingo. The MSM talks about the Fed is still below their inflation target so much, that they've even got CEOs and CFOs fooled. The delusion can run deep.

How do I know? My father is a lifelong CPA, with 2/3rds of his life spent as a CFO of various Corps. He still to this day tells me "There is no inflation right now."

When I show him sites like Shadow Stats and chapwoodindex.com he just scoffs and laughs it off like it's all just conspiracy propaganda.

Then I bring up all the assets in his life that have practically doubled in price in the last 10 years, of which there are many, and he gets quiet and says "Yeah but that's different."

[OutOfMemory]

When I try to access etsy.com I get a blank white page, is it just me?

Looks OK here.