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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25440657 times)
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lightfoot
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May 06, 2021, 01:17:19 PM
Merited by JayJuanGee (1)

I’m sick of seeing utter shitcoins pumping. I checked one of my exchange accounts this morning & I see 1INCH pumping 25%, ETC is up about 200% in the last month, DOGE is out of control, EOS up 25%, ADA up 22%.

It is a bit odd. According to my little spreadsheet, bitcoin should be at 82,000 or so with the rise in some foundational alts like ETC and LTC. It's possible this is alts just "catching up" to bitcoin's run but if so it means the ratios have changed significantly towards what they were in the olden days. I'll have to do a bit of analysis to see what is "frothy" and what is "rational" in terms of that ratio.

(example: LTC used to be worth .01 btc. It dropped to .003, held at .004 forever and now is in the .006 range. It went as high as .018 during the last stupid altcoin run. So is .004 the new "normal", or is it just reverting to .01? Time will tell, however dipshit coins could be clouding the waters)

(ETC is another oddball: It's real ethereum, but with the balls not to change to make the DAO people rich. As such it was pretty much left in the dust in the ETH runups, but since it can do everything ETH can do there is no reason to run the functionality of stuff on overly expensive ETH. And since ETH as a store of value is silly and it's a "bad faith" coin that will fuck people over to save others why not move back to ETC? Interesting)
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IIRC


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May 06, 2021, 01:37:16 PM
Merited by JayJuanGee (1)


I mean what the hell is 1INCH.


1INCH is having very bad karma in one's love life  Cheesy #nh

Don't get too annoyed by the altcoin rally, the alt season is just topping, it will be over soon.
It's not that bloomers would have put their money into BTC if the alts wouldn't exist. I think it's mainly Robinhood, eToro and the likes that got noobs to invest in alts instead of stonks. NFT's are also a sign of topping madness. Guess which coin will survive, in the end...  Grin

I have a good feeling about an imminent brakeout. Hoping to be able to quote myself shortly.

Think i wrote something two days ago, that we should reach $58k about today.
If we break $58k and stabilize, i also wouldn't rule out a pump to somewhere between $60 to $65k.
#NFA

EDIT: I see $58k already got broken for a short while today.

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May 06, 2021, 01:54:27 PM
Merited by LFC_Bitcoin (1)

Sick of seeing BCH rise, want to see it pummeled into the ground. Mind you it's still only 2.5% of BTC price and they're celebrating like the flippening is at any moment haha

I’m sick of seeing utter shitcoins pumping. I checked one of my exchange accounts this morning & I see 1INCH pumping 25%, ETC is up about 200% in the last month, DOGE is out of control, EOS up 25%, ADA up 22%.

I mean what the hell is 1INCH.

WTF is this nonsense?

I’ll admit, it’s beginning to piss me off.

I have some 1inch. I took a bunch of ETH I had sitting around and turned them into shitcoins to see what this DeFi was all about. 1inch is essentially a DEX coin used as the middle currency for trading a bunch of other currencies. It will go back down, it's not meant to gain much value over time.

I re-iterate that had I kept my shitcoins in ETH I would be better off even with some shitcoins getting over 150% returns (as their price continues to drop). And had I kept that ETH in BTC it would have even more value.

When BTC dips they dip much quicker. When BTC goes up, they go up quicker.

The key lesson learned with playing around with DeFi is that the ETH gas price is way too high. I've paid $500 in gas fees to set up a trade. But it gives me hope for when we can do it all on the Bitcoin LN using RGB at almost zero fees. ETH and all of the alts will go away.
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May 06, 2021, 02:16:29 PM


I mean what the hell is 1INCH.


1INCH is having very bad karma in one's love life  Cheesy #nh

Only until it moons to 1YARD.
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May 06, 2021, 02:24:26 PM

Sick of seeing BCH rise, want to see it pummeled into the ground. Mind you it's still only 2.5% of BTC price and they're celebrating like the flippening is at any moment haha

I’m sick of seeing utter shitcoins pumping. I checked one of my exchange accounts this morning & I see 1INCH pumping 25%, ETC is up about 200% in the last month, DOGE is out of control, EOS up 25%, ADA up 22%.

I mean what the hell is 1INCH.

WTF is this nonsense?

I’ll admit, it’s beginning to piss me off.

I have some 1inch. I took a bunch of ETH I had sitting around and turned them into shitcoins to see what this DeFi was all about. 1inch is essentially a DEX coin used as the middle currency for trading a bunch of other currencies. It will go back down, it's not meant to gain much value over time.

I re-iterate that had I kept my shitcoins in ETH I would be better off even with some shitcoins getting over 150% returns (as their price continues to drop). And had I kept that ETH in BTC it would have even more value.

When BTC dips they dip much quicker. When BTC goes up, they go up quicker.

The key lesson learned with playing around with DeFi is that the ETH gas price is way too high. I've paid $500 in gas fees to set up a trade. But it gives me hope for when we can do it all on the Bitcoin LN using RGB at almost zero fees. ETH and all of the alts will go away.

Someday... Someday.. who knows when?  We will realize that putting all transactions, features, and functions on the base layer or a blockchain asset is a fundamental error.  This FORCES us to be at the will of an centralized authority.  We can build ALL these apps (so far mostly solutions looking for a problem) on sidechains, and those can centralize as much as we might want.  That way we have choice.

OR... we can be OK with having people in control of everything we do, say, and spend.

I wish my faith in humanity was a little stronger.
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May 06, 2021, 02:25:26 PM

So apparently there’s this media influencer in Pakistan who’s so hyped and overconfident on crypto that he claims he can pay off all intl. debt of Pakistan using crypto. I’m not sure what he really mean by “using crypto”?

This is the same guy who tried to setup hydro powered Bitcoin mining rigs in Pakistan.



https://twitter.com/zakawaqar/status/1389627715645546502?s=21
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May 06, 2021, 02:35:56 PM

So apparently there’s this media influencer in Pakistan who’s so hyped and overconfident on crypto that he claims he can pay off all intl. debt of Pakistan using crypto. I’m not sure what he really mean by “using crypto”?

This is the same guy who tried to setup hydro powered Bitcoin mining rigs in Pakistan.



https://twitter.com/zakawaqar/status/1389627715645546502?s=21

Best way to pay off a nation's debt "using crypto" is this:

Create a national cryptocurrency (or just use Bitcoin).

Get everyone to use it for everything.

Stop using the old national currency.

Print trillions of the old currency and "pay off" the debt. Also, that money is useless for those that just got paid off.
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May 06, 2021, 02:39:25 PM

"Don't chase the market"
"Everyone talks their book"
"Losses are rarely mentioned"
"Gains are boasted often"
"Learn to differentiate between luck and skill"
"Recognize when you're just pure gambling"
"If you're not the predator, you're probably the prey"



something like this, uh?
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May 06, 2021, 02:47:36 PM
Merited by Elwar (1)

@BitcoinUltras
Dump all your shitcoins before it's too late.

Buy & HODL #Bitcoin 

https://twitter.com/bitcoinultras/status/1390288642451644420?s=21



YEAH, do it......
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May 06, 2021, 03:16:00 PM
Merited by JimboToronto (1)

......

Well that's what they supposedly voted for in the USA: communism.
If you are born with a silver spoon or get one by being smart, then grandmaster supreme paramount leader Joe Biden and Cunt Harris will take it away. Only it will not be taken away from their own druggie kids of course. Because they are better than you and your children because they have international business deals. All accomplished by themselves.

Huh... you should go post that crap over in the Piffle + Shit  P+S boards. You'd fit right in.
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May 06, 2021, 03:33:01 PM
Merited by JayJuanGee (1)

Quote
Metromile just become the first insurance company to both accept premiums and pay claims in Bitcoin

They will also purchase $10 million of Bitcoin this quarter.
https://twitter.com/DocumentingBTC/status/1390310422780207104
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May 06, 2021, 03:36:06 PM

Sick of seeing BCH rise, want to see it pummeled into the ground. Mind you it's still only 2.5% of BTC price and they're celebrating like the flippening is at any moment haha

I’m sick of seeing utter shitcoins pumping. I checked one of my exchange accounts this morning & I see 1INCH pumping 25%, ETC is up about 200% in the last month, DOGE is out of control, EOS up 25%, ADA up 22%.

I mean what the hell is 1INCH.

WTF is this nonsense?

I’ll admit, it’s beginning to piss me off.

Just ignore the media and Coinmarketcap, block all those shitcoiners on Twitter and focus on Bitcoin only.
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May 06, 2021, 03:48:29 PM
Merited by El duderino_ (3)

In case it was not obvious yet where the random altcoin pumping is coming from:



Quote
An update on one chart that I think shows retail participation the best. Now comfortably already higher than in the 2017 mania. We had more than 300k new weekly Twitter followers of exchanges two weeks ago while the last cycle's top was 250k.
https://twitter.com/lawmaster/status/1390262743140388872
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May 06, 2021, 03:55:17 PM

How would a BTC-prepaid VISA card work with income tax? Instead of wallet-->exchange-->bank-->gas and groceries, it would be wallet--card-->gas and groceries.

Not the thing for buying ranches and lakes, obviously.
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May 06, 2021, 04:07:56 PM

First new PC post

Cheers, writes smoothly
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May 06, 2021, 04:18:48 PM

How would a BTC-prepaid VISA card work with income tax? Instead of wallet-->exchange-->bank-->gas and groceries, it would be wallet--card-->gas and groceries.

Not the thing for buying ranches and lakes, obviously.

Aren't we giving more and more power to exchanges?
I'm afraid at the end they will start behaving like banks.
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May 06, 2021, 04:24:02 PM

First new PC post

Cheers, writes smoothly

ha, I just got a new one as well, did not open the box yet  Cheesy
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May 06, 2021, 04:26:01 PM

It seems like each purchase would technically be a taxable event.
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May 06, 2021, 04:28:57 PM

It seems like each purchase would technically be a taxable event.

unless they pass a law about de minimis exception in US, this is pretty much useless, and the same with gemini card as well.

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May 06, 2021, 06:19:22 PM

"Don't chase the market"
"Everyone talks their book"
"Losses are rarely mentioned"
"Gains are boasted often"
"Learn to differentiate between luck and skill"
"Recognize when you're just pure gambling"
"If you're not the predator, you're probably the prey"



something like this, uh?

Crypto Market: "The market can stay irrational longer that you can wait for it to turn rational again."

Me, a Bitcoin HODLer since 2013: "Hold my beer..."
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