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

[AlcoHoDL]

So last night I'm at the home cinema room watching a movie and I open a bag of Jack Link's Beef Jerky to eat while watching. First time to try it, it's an American thing, not found where I live, had to specially order it. Room was dark, saw a little bag inside it, and thought it was some kind of seasoning (maybe salt of pepper). So I open the little bag and spread the contents over the pieces of meat. I ate everything, it was delicious. Guess what: this morning I realised that the little bag said DO NOT EAT outside it. Fcuk! It was something called "oxygen absorber", supposedly to keep the meat fresh. Lesson learned: always read the label before you eat (do) something. I'm still alive (for now)!

As for Elon, I think he has sold already. It doesn't make sense to HoDL and act the way he did (and still does). Maybe the earlier dip we had before the recent bigger one was him selling? Anyways, I'm not so good at this sort of thing, it makes Bitcoin seem like stocks and shares, which I absolutely hate. Of course, I haven't sold a sat, and even thinking of BTFD. In any case, Elon will soon be forgotten, and Bitcoin will resume its upward trend again, as it has done so many times before. Silk Road, MtGox, forkenings, China bans, ETF rejections, mempool spamming, CSW/Ayre/Wu/Ver attacks, you name it, Bitcoin has always chewed them up and spat them out, and so it will do to Elon.

Let's wait until this thing settles. Maybe there are things at play we don't yet know...

As someone who likes the stuff and the South African version Biltong I find this quite funny to read. You'll live.
From Google:

What is the do not eat packet in beef jerky?
According to Slate, silica gel is “an inert, nontoxic substance that’s essentially harmless. … So if you accidentally eat some of the silica gel in the beef jerky packet (or if your kid does), don’t worry. It’s completely harmless.

Maybe stick with popcorn or crisps next time.  

My living room in essence is a cinema room btw. 5.1 setup with Epson projector and a 110 inch screen. It's not a very wide room so can't go bigger really.
Sometimes I do have my dinner in there but will usually leave a corner lamp on whilst doing that. Once finished eating it goes off.

Pretty sure that is not true, I beleive silca gel is carcinogenic, at least I was told that once.

However, he said oxygen absorber, which is not silca gel. Silca gel is for absorbing moisture. So it may be nothing, or may be something, in such small doses I'd say nothing.

If it were really serious they would not be able to sell the stuff as is. I'm sure this happens all the time.

That's what I thought, even before searching about it. I guess they wouldn't put a poisonous/harmful sachet inside a snack bag (most snacks are harmful enough as it is, LOL)... Actually, I'm very careful about such things, it just did not occur to me that there are such types of bags inside food packages.

Funny thing, I even scooped it all with the meat jerky to make sure I eat the thing (wouldn't want to miss the flavour). Didn't taste like salt or pepper. It was crunchy, but in a weird sort of way, like charcoal. I actually thought it was something to imitate the BBQ/charcoal particles/taste.

Live and learn.

[1714079585]

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[NeuroticFish]

Facebook, tried that. Didn't really work out.

Coinbase and Circle, on the other hand, did USDC and it's doing great.
I think that Facebook was greedy and didn't do their homework properly. For example, the coin "basket" they've tried to use made their coin proposal become a competitor for USD. But that's just me.

[BitcoinGirl.Club]

Update: Here comes another one LOL
https://bitcointalk.org/index.php?topic=5338013.0

It seems everyone wants their own Elon Mask topic. 🤣

Go and have your own Elon Musk topic on Bitcoin Discussion board. Out of top 10 topics you will find 6 are about Musk. WTF!

[BitcoinGirl.Club]

Facebook, tried that. Didn't really work out.

Coinbase and Circle, on the other hand, did USDC and it's doing great.
I think that Facebook was greedy and didn't do their homework properly. For example, the coin "basket" they've tried to use made their coin proposal become a competitor for USD. But that's just me.

I can't even remember the coin name they had LOL

[somac.]

futures premiums have collapsed. Down to high single digits, guess nobody expects the price to rise then, which probably means it will.

[somac.]

Every major miner has now signalled for the taproot upgrade with at least 1 block. It's takes a little while for their entire operation to signal every block, so we will miss activating taproot this round, but next one it is definitely going to happen. Good news in an otherwise shitty past day.

https://taproot.watch/miners

[Syke]

Every major miner has now signalled for the taproot upgrade with at least 1 block. It's takes a little while for their entire operation do signal every block, so we will miss activating taproot this round, but next one it is definitely going to happen. Good news in an otherwise shitty past day.

https://taproot.watch/miners

These softfork activations are epic. A way to upgrade the network without disruption. I'm impressed!

[LFC_Bitcoin]

Bottom in?

Everybody still alive?

[El duderino_]

Bottom in?

Everybody still alive?

Would be a nice bottom if it’s in....

[Paashaas]

[UnDerDoG81]

You guys remember Bitcoin died every weekend in 2017/18? I think its the first time in this Bullrun we have this sentiment. And I am not hearing it as often as in 2017/18 and before.

There was another website in 2018 but could not find it. This one is also not bad -> https://www.bitcoinisdead.org/

[lightfoot]

Yeah, ~25% down, normal day.

Still remember Bob selling a chunk to buy his lover out of slavery at 16k or so. That memory puts all of this in perspective.

[Wouter Mense]

So last night I'm at the home cinema room watching a movie and I open a bag of Jack Link's Beef Jerky to eat while watching. First time to try it, it's an American thing, not found where I live, had to specially order it. Room was dark, saw a little bag inside it, and thought it was some kind of seasoning (maybe salt of pepper). So I open the little bag and spread the contents over the pieces of meat. I ate everything, it was delicious. Guess what: this morning I realised that the little bag said DO NOT EAT outside it. Fcuk! It was something called "oxygen absorber", supposedly to keep the meat fresh. Lesson learned: always read the label before you eat (do) something. I'm still alive (for now)!

As for Elon, I think he has sold already. It doesn't make sense to HoDL and act the way he did (and still does). Maybe the earlier dip we had before the recent bigger one was him selling? Anyways, I'm not so good at this sort of thing, it makes Bitcoin seem like stocks and shares, which I absolutely hate. Of course, I haven't sold a sat, and even thinking of BTFD. In any case, Elon will soon be forgotten, and Bitcoin will resume its upward trend again, as it has done so many times before. Silk Road, MtGox, forkenings, China bans, ETF rejections, mempool spamming, CSW/Ayre/Wu/Ver attacks, you name it, Bitcoin has always chewed them up and spat them out, and so it will do to Elon.

Let's wait until this thing settles. Maybe there are things at play we don't yet know...

As someone who likes the stuff and the South African version Biltong I find this quite funny to read. You'll live.
From Google:

What is the do not eat packet in beef jerky?
According to Slate, silica gel is “an inert, nontoxic substance that’s essentially harmless. … So if you accidentally eat some of the silica gel in the beef jerky packet (or if your kid does), don’t worry. It’s completely harmless.

Maybe stick with popcorn or crisps next time.  

My living room in essence is a cinema room btw. 5.1 setup with Epson projector and a 110 inch screen. It's not a very wide room so can't go bigger really.
Sometimes I do have my dinner in there but will usually leave a corner lamp on whilst doing that. Once finished eating it goes off.

Pretty sure that is not true, I beleive silca gel is carcinogenic, at least I was told that once.

However, he said oxygen absorber, which is not silca gel. Silca gel is for absorbing moisture. So it may be nothing, or may be something, in such small doses I'd say nothing.

If it were really serious they would not be able to sell the stuff as is. I'm sure this happens all the time.

That's what I thought, even before searching about it. I guess they wouldn't put a poisonous/harmful sachet inside a snack bag (most snacks are harmful enough as it is, LOL)... Actually, I'm very careful about such things, it just did not occur to me that there are such types of bags inside food packages.

Funny thing, I even scooped it all with the meat jerky to make sure I eat the thing (wouldn't want to miss the flavour). Didn't taste like salt or pepper. It was crunchy, but in a weird sort of way, like charcoal. I actually thought it was something to imitate the BBQ/charcoal particles/taste.

Live and learn.

Oxygen absorber that's iron powder. Extra crunchy

[rdbase]

Bottom in?

Everybody still alive?

Would be a nice bottom if it’s in....

Dimoun has a bottom waiting for him in the background in this pic.

This is the process these fiat/gold billionaires all have to go through to stay relevant to themselves.
I do think musk is just going thru these steps the way mcafee did but now he is not relevant as being a crypto advisor (or whatever he was to begin with!) anymore.

[Wekkel]

futures premiums have collapsed. Down to high single digits, guess nobody expects the price to rise then, which probably means it will.

The alts I'm following do not show a meaningful dent in their BTC price. This does not mean summer by any means but to me it's a signal that sentiment is still strong. Nobody seems to give a damn about the Billionaire pony show unfolding in the BTCUSD scene: cryptocurrency speculation is still rampant (and, of course, all the good development making for better and better software towards mainstream apps built on cryptocurrency layers ).

Speaking of BTCUSD:

I think of this situation as the prime example of: "when in doubt, zoom out".

It's cherry picking but I show two charts in this respect:





The core of the message is: volatility and Bitcoin measured in USD go together. Always has been and this will stay until Bitcoin becomes big enough.

The whole Elon circus is just what it is: a circus. It has not changed any aspect of Bitcoin. The protocol is still there. It's promises. It's unique situation in terms of network effect. It may be Internet Money 1.0 but for now it's still the best we have. And I still believe in the story. I am just as confident holding BTC at $45k as holding it at $69k.

Apparently, $45k is a more fair price right now. I won't lecture the market. Its just a global voting machine. From that perspective, it is a good thing that some air was taken out of the Bitcoin USD price. This creates room for more upward movement in the future. We were getting a little ahead of ourselves anyway when looking at the 2017 comparison .

For every seller there is a buyer. The grand effect of the price tumbling is that coins go from paper hands to diamond hands. The price is pinching into the thick skin of hardened and seasoned traders seeing a bright future for Bitcoin, while the day traders or scary people back out and surrender their Bitcoin, moving to fiat again.

While the times seem depressing, coming down from $69k, I still see Bitcoin up this year and considerably so. No stress on my part. Despite all the fuzz I do not see a successor Bitcoin arising (ETH has it's own space, mainly speculation right now it seems) that has the 10x+ features to overcome the established network effect of Bitcoin. There may be times that this will be different, but not today.

The price may linger for a while. After all, its pure price discovery. And with Bitcoin, fiat may come and go fast. In the end, people who believe in a brighter future for Bitcoin, will continue to hold and accumulate. With all other things remaining equal, the end result will be the same again in the end: UP.

Meanwhile, the fiat in your pocket remains burning. The seller of today will recognize soon enough.

So what am I looking at? The classic Buy The F* Dip I would say  

And Elon: I'm not sure whether I am agitated or just sad for him. Well, Edison wasn't a nice chap either (electrocuting elephants to defend a position that was eventually lost, tssk tssk). My doubts were essentially confirmed with the naming of his child. He should be fine sticking to his engineering stuff. Dealing with people, not so much. Honey badger doesn't care.

Enjoying the $45k  

[AlcoHoDL]

Michael Saylor Responds to Elon Musk - Bitcoin Environmental Impact & Energy Debate

Saylor at his usual top-notch performance, debating crushing Elon's nonsensical claims. Saylor is an engineer, and that helps a lot.

[philipma1957]

Just got a piece of coin at 45k
My weekly buy is weds.

Buy the dip and hodl a nice discount sale for us.

[Wekkel]

Michael Saylor Responds to Elon Musk - Bitcoin Environmental Impact & Energy Debate

Saylor at his usual top-notch performance, debating crushing Elon's nonsensical claims. Saylor is an engineer, and that helps a lot.

From the comments under the video I understand that the interview predates the Elon Clown Show. Nonetheless, a good interview.

[Torque]

Since even their followers can figure out how to consistently pronounce it, I've been calling it "Douche-coin".

Hope it sticks.

Oh and btw, the Gen Zers already think that people that like meme coins are "Cheugy". Whatever that is. So I think douchecoin is doomed long term.

[JimboToronto]

Good morning Bitcoinland.

Stuck in the $4xxxx range... currently $44923USD/$54432CAD (Bitcoinaverage).

Could be better, could be worse. No big deal.

1BTC is still worth 1BTC.

So...Musk tweet is like the Silk Road bust of 2013?

OGs know what I'm talking about...

My memory may be failing me but that was a sharper but also shorter dip if I recall correctly (assuming this is a dip).

...hovering around 100$...

...Instant flash crash in BTC price...

...The price rebounded from its almost 40% crash - within 2-3 days it was hovering around the 100$ mark again...

Richy's memory is better on this one. It was indeed a sharper and shorter dip.

It only took 1 hour to crash from $130 to $110 and another hour to bounce back up.

It never did go all the way down to $100 and of course has never hit double digits since.

Luckily I'm a bit of a digital packrat so I saved the Chartbuddy documentation.