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

[LoyceV]

"I'd rather put my eggs in ONE basket that I fully control, than in TEN baskets that others control."

I was just looking at CoinMarketCap:
#1: Bitcoin! But it's losing market share, so I wondered what's taking the market share. Turns out, most of them are centralized:
#2: Centrally controlled Hardforkcoin Ethereum.
#3: Centrally controlled Binance Coin.
#4: Centrally controlled Ripple.
#5: Not centrally controlled Dogecoin (but originally started as a meme troll).
#6: Centrally controlled and probably not backed stablecoin Tether. I find it very hard to believe someone holds 52 billion dollar on some bank account to counter this value.
#7: Cardano. I know nothing about this so this is where I stop.

Why are people giving up their trustless Bitcoin for centrally controlled coins that are solely created to make the creator rich?

[OutOfMemory]

"I'd rather put my eggs in ONE basket that I fully control, than in TEN baskets that others control."

I was just looking at CoinMarketCap:
#1: Bitcoin! But it's losing market share, so I wondered what's taking the market share. Turns out, most of them are centralized:
#2: Centrally controlled Hardforkcoin Ethereum.
#3: Centrally controlled Binance Coin.
#4: Centrally controlled Ripple.
#5: Not centrally controlled Dogecoin (but originally started as a meme troll).
#6: Centrally controlled and probably not backed stablecoin Tether. I find it very hard to believe someone holds 52 billion dollar on some bank account to counter this value.
#7: Cardano. I know nothing about this so this is where I stop.

Why are people giving up their trustless Bitcoin for centrally controlled coins that are solely created to make the creator rich?

I think that they are not so much giving up their bitcoin, but since 2017 fresh retailers pump their money into altcoins.
Many new "investors" consider themselves too late to make monster gains with bitcoin (because "too expensive", "too late" ... and so on).
This is my impression of the 2020/21 market.

[LFC_Bitcoin]

"I'd rather put my eggs in ONE basket that I fully control, than in TEN baskets that others control."

I was just looking at CoinMarketCap:
#1: Bitcoin! But it's losing market share, so I wondered what's taking the market share. Turns out, most of them are centralized:
#2: Centrally controlled Hardforkcoin Ethereum.
#3: Centrally controlled Binance Coin.
#4: Centrally controlled Ripple.
#5: Not centrally controlled Dogecoin (but originally started as a meme troll).
#6: Centrally controlled and probably not backed stablecoin Tether. I find it very hard to believe someone holds 52 billion dollar on some bank account to counter this value.
#7: Cardano. I know nothing about this so this is where I stop.

Why are people giving up their trustless Bitcoin for centrally controlled coins that are solely created to make the creator rich?

I think short term traders/thinkers see alts as a way to get bigger/quicker gains. Thing is, it’s a very risky game. You might get lucky doing it, you might not. I’ve never played that game & never will, been HODLING since 2014. Slow & steady wins the race, a big % of alt gains end up back in bitcoin any way. The sole reason people mess around with alts is to increase their bitcoin stash.

Bitcoin is going to $150,000+ this year, sit back & relax. I prefer knowing my money is safe in King Daddy, OG’s don’t mess around with alts, it’s a poor person game.

[LFC_Bitcoin]

Off-topic (but see below) interview recommendation:

Soft White Underbelly: Escort Interview — Frenchie

Feature-length, and a great watch, she's a great story teller for sure.

She's a coiner too! Notice near the end (1:30:34), when she mentions how one of her clients, a millionaire, "helps her with her Bitcoins!" He probably introduced her to Bitcoin and is helping her manage her coins. I can't help but wonder if he's a WOer... LOL!

Some may find the above link distasteful, or even insulting, but I urge you to put your prejudices aside and watch the interview in its entirety. It's an entertaining and quite a didactic experience.

No prejudice from me.

Girl’s making money, good for her.

[OutOfMemory]

"I'd rather put my eggs in ONE basket that I fully control, than in TEN baskets that others control."

I was just looking at CoinMarketCap:
#1: Bitcoin! But it's losing market share, so I wondered what's taking the market share. Turns out, most of them are centralized:
#2: Centrally controlled Hardforkcoin Ethereum.
#3: Centrally controlled Binance Coin.
#4: Centrally controlled Ripple.
#5: Not centrally controlled Dogecoin (but originally started as a meme troll).
#6: Centrally controlled and probably not backed stablecoin Tether. I find it very hard to believe someone holds 52 billion dollar on some bank account to counter this value.
#7: Cardano. I know nothing about this so this is where I stop.

Why are people giving up their trustless Bitcoin for centrally controlled coins that are solely created to make the creator rich?

I think short term traders/thinkers see alts as a way to get bigger/quicker gains. Thing is, it’s a very risky game. You might get lucky doing it, you might not. I’ve never played that game & never will, been HODLING since 2014. Slow & steady wins the race, a big % of alt gains end up back in bitcoin any way. The sole reason people mess around with alts is to increase their bitcoin stash.

Bitcoin is going to $150,000+ this year, sit back & relax. I prefer knowing my money is safe in King Daddy, OG’s don’t mess around with alts, it’s a poor person game.

Especially, like at the moment, when you see top5 alts stalling in their rise and bitcoin grow in its price (5m-15m candles), you recognize the game.
Many of the $$$ spent in altcoin markets will return to BTC.

EDIT: Of course these are smallish movements, compared to BTC market cap, but you can spot them once in a while.

[OutOfMemory]

Also important (not going into alts too much here) BNB and ETH hit important resistance zones.
Should end in a BTC pump, ultimately. $60k incoming?

EDIT: No Financial Advice 

[LFC_Bitcoin]

Also important (not going into alts too much here) BNB and ETH hit important resistance zones.
Should end in a BTC pump, ultimately. $60k incoming?

Hopefully.

I love the smell of burnt alt investors in the morning well, any time really.

[OutOfMemory]

Also important (not going into alts too much here) BNB and ETH hit important resistance zones.
Should end in a BTC pump, ultimately. $60k incoming?

Hopefully.

I love the smell of burnt alt investors in the morning well, any time really.

Have a sMerit.
Not so much for the quality of the post, but more for the quality of the laughs it gave me 

[LFC_Bitcoin]

@DocumentingBTC
https://twitter.com/documentingbtc/status/1389312276814041095?s=21
S&P Dow Jones Indices just launched a #Bitcoin index.


@DocumentingBTC
Source via Coindesk, reported by @realDannyNelson
https://www.coindesk.com/sp-goes-live-with-bitcoin-ethereum-crypto-indexes
https://twitter.com/documentingbtc/status/1389312451431239693?s=21

[Biodom]

haha...some employers are trying to pull a fast one...

https://www.marketwatch.com/story/my-employer-paid-me-in-crypto-it-rose-700-in-value-now-he-wants-employees-to-return-the-crypto-and-accept-dollars-11620056179

hopefully it is enough so he can just quit.

[philipma1957]

"I'd rather put my eggs in ONE basket that I fully control, than in TEN baskets that others control."

I was just looking at CoinMarketCap:
#1: Bitcoin! But it's losing market share, so I wondered what's taking the market share. Turns out, most of them are centralized:
#2: Centrally controlled Hardforkcoin Ethereum.
#3: Centrally controlled Binance Coin.
#4: Centrally controlled Ripple.
#5: Not centrally controlled Dogecoin (but originally started as a meme troll).
#6: Centrally controlled and probably not backed stablecoin Tether. I find it very hard to believe someone holds 52 billion dollar on some bank account to counter this value.
#7: Cardano. I know nothing about this so this is where I stop.

Why are people giving up their trustless Bitcoin for centrally controlled coins that are solely created to make the creator rich?

take Doge off the list and I would agree with you.

understand doge for what it is:

well backed by asics
and 10x the blocks which means 10x the transactions each day are possible.

the other coins are garbage.

Does this mean buy doge no.  But it does not belong on the list you made.

[Richy_T]

I think that they are not so much giving up their bitcoin, but since 2017 fresh retailers pump their money into altcoins.
Many new "investors" consider themselves too late to make monster gains with bitcoin (because "too expensive", "too late" ... and so on).
This is my impression of the 2020/21 market.

Everyone's trying to pick the next facebook to Bitcoin's myspace but in reality, most of them are betting on Friends Reunited and there's no sign of Bitcoin failing yet.

[El duderino_]

[Richy_T]

Does this mean buy doge no.  But it does not belong on the list you made.

I think the list was the top coins by market cap on coinmarketcap. That makes Doge definitely belong on there. There's a few others that don't though (most notably XRP).

I also suspect that the market caps of many alts are being manipulated so not really a good indicator for most purposes and Bitcoin's market cap has its own questions too (nothing nefarious but they are there). Market cap is mostly a meaningless metric anyway.

[Richy_T]

I'd hate having to keep selling. I'll hodl for now.

[OutOfMemory]

I'd hate having to keep selling. I'll hodl for now.

Whenever i sold, i did regret it later.
Even when i sold "at a profit".

[Torque]

Go, go, go shitcoins go!

Look at that shit skyrocket, man. It's like a plume of shit!

Glorious.  _/s

[somac.]

Go, go, go shitcoins go!

Look at that shit skyrocket, man. It's like a plume of shit!

Glorious.  _/s

I know right look at all the serious investors buying them too, obviously the future.

Actually, these things are pumping too much, I suspect a crash is just around the corner and I do wonder if it will be one that takes BTC down with it (nowhere near as much of course, 20% maybe). This buying seems to be coming from noob retailers, these are not the people who will convert to BTC, they'll go to cash and then exit alltogether with their losses. If we're lucky the original holders of these coins will convert to BTC, but, having seen the comments from these morons on twitter for the last few years I highly doubt it.

What will happen though is seious investors will buy the dip again as usual, so there is that.

[BitcoinGirl.Club]

1BTC Donation
Brett Lee has donated one Bitcoin to CryptoRelief.in, a community-run fund started by Polygon co-founder Sandeep Nailwal. And Sportsbet.io has now followed Lee's example, also donating one Bitcoin to the cause. The generous donations represent a total of over $155,000 USD (at the time of writing).

I missed this news!

[OutOfMemory]

When you see all those shitcoin sellwalls being eaten up, the phrase "eat shit" gets a whole new perspective