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

[cAPSLOCK]

Speaking of Volcanos...  

Tee hee...



*EDIT!*

Oh wow... I would love to take credit for this... but it really was the volcano.

Shouldn't be a triangle though but rather a down channel.

I should have left the bottom part off... I was just having fun with the line tool.  What I was seeing was a bullflag.



I think ours wants to go to 38750-ish

[cAPSLOCK]

Jeebus, please someone throw a cold glass of water on me.

For some reason I went into /r/btc and started posting in there. I feel like I was swarmed by zombies.

But also, I have to admit, I kind of like how mad they are.  I am sorry they are losing, but I did not pick their side for them.

[somac.]

If anyone here is keeping an eye on the mempool like I am you would have noticed a huge increase in transactions today. For the last few weeks we have pretty much been running empty blocks. Number of tranasactions in the pipeline has been sitting below 2000 for a good portion of the time and often into the hundreds at certain stages.

Well, today the number of transaction rocketed up to over 40,000 (currently above 20k). This could mean 2 things, someone has spammed the network in a massive way after the El Salvador announcemnet to make it look like demand for Bitcoin has returned. Or demand has actually returned. Considering the bounce in the price it may very well be the second option. To see if we get any follow through on this recent event we should see continued high transaction numbers. Keeping an eye on new short-term holder addresses is also a good way to confirm the demand, an increase in these addresses would mean an increase in demand for BTC again.

Fingers crossed this all keeps up, because if it does a bottom has been put in place.

[somac.]

I should have left the bottom part off... I was just having fun with the line tool.  What I was seeing was a bullflag.



I think ours wants to go to 38750-ish

Ah gotcha, yep thats what it is.

Jeebus, please someone throw a cold glass of water on me.

For some reason I went into /r/btc and started posting in there. I feel like I was swarmed by zombies.

But also, I have to admit, I kind of like how mad they are.  I am sorry they are losing, but I did not pick their side for them.

lol, I should check it out for a laugh.

[Paashaas]

[somac.]

But, but, my nocoiner acquaintances told me India banned bitcoin.

[Richy_T]

@chartbuddy
please stop using a toaster for your pictures
most text is unreadable 

It's a thumbnail. Click for bigger. (Though I do plan on increasing the size of some of the text a little).

[Richy_T]

US inflation is at 5%.

But it is temporary.

Yes. Politicians will get less greedy any minute...... now

.....now


....now

[modrobert]

Jeebus, please someone throw a cold glass of water on me.

For some reason I went into /r/btc and started posting in there. I feel like I was swarmed by zombies.

But also, I have to admit, I kind of like how mad they are.  I am sorry they are losing, but I did not pick their side for them.

Bots which will ignore what you write and keep down voting all replies until you leave, or BCH paid shills, it's a cesspool, made the same mistake myself a while back.

[ChartBuddy]

Explanation

[cAPSLOCK]

Jeebus, please someone throw a cold glass of water on me.

For some reason I went into /r/btc and started posting in there. I feel like I was swarmed by zombies.

But also, I have to admit, I kind of like how mad they are.  I am sorry they are losing, but I did not pick their side for them.

Bots which will ignore what you write and keep down voting all replies until you leave, or BCH paid shills, it's a cesspool, made the same mistake myself a while back.

Yeah.  It's terrible.  I feel like i got my foot in a bear trap.



I run two nodes, of the 83000 on the network.

These bellcurve dwellers are a sad lot.

[Richy_T]

Yeah.  It's terrible.  I feel like i got my foot in a bear trap.



I run two nodes, of the 83000 on the network.

These bellcurve dwellers are a sad lot.

You might have been able to talk yourself into custodial wallets being OK but not everyone agrees. If you don't like being around people you disagree with then yes, you should probably stay out of there.

[Parazyd]

Jeebus, please someone throw a cold glass of water on me.

For some reason I went into /r/btc and started posting in there. I feel like I was swarmed by zombies.

But also, I have to admit, I kind of like how mad they are.  I am sorry they are losing, but I did not pick their side for them.

Bots which will ignore what you write and keep down voting all replies until you leave, or BCH paid shills, it's a cesspool, made the same mistake myself a while back.

Same goes for most of this forum. WO is the only thread I'm here for.

[modrobert]

Yeah.  It's terrible.  I feel like i got my foot in a bear trap.



I run two nodes, of the 83000 on the network.

These bellcurve dwellers are a sad lot.

You might have been able to talk yourself into custodial wallets being OK but not everyone agrees. If you don't like being around people you disagree with then yes, you should probably stay out of there.

The trap is in the name, the BCH folks are in /r/btc.

[cygan]

 


https://twitter.com/maxkeiser/status/1402957400773169153

[modrobert]

Jeebus, please someone throw a cold glass of water on me.

For some reason I went into /r/btc and started posting in there. I feel like I was swarmed by zombies.

But also, I have to admit, I kind of like how mad they are.  I am sorry they are losing, but I did not pick their side for them.

Bots which will ignore what you write and keep down voting all replies until you leave, or BCH paid shills, it's a cesspool, made the same mistake myself a while back.

Same goes for most of this forum. WO is the only thread I'm here for.

I ran out of merit, but yes, to some degree.

[Richy_T]

The trap is in the name, the BCH folks are in /r/btc.

Yes, this is because Theymos decided to purge r/bitcoin of dissenting opinions when there was only Bitcoin.

[d_eddie]

A bit absent these days. Number seem go up. We on track for moon by end of cycle. All good.

[cAPSLOCK]

Yeah.  It's terrible.  I feel like i got my foot in a bear trap.



I run two nodes, of the 83000 on the network.

These bellcurve dwellers are a sad lot.

You might have been able to talk yourself into custodial wallets being OK but not everyone agrees. If you don't like being around people you disagree with then yes, you should probably stay out of there.

I would stress that my viewpoint has much more nuance than that.  I do not use custodial wallets (well very much... I try most everything).  And i do not think they are the best choice for all people.  AND I hope the people of El Salvador will begin to shift towards non-custodial lightning solutions since I think mostly they are using WoS so far.

I do not see that we can possibly "get rid of the banks" and have been making this point ad-nauseum for years.  Us in here??  Yeah we won't need them.  And interestingly neither will many of the people of El Salvador.  But most people are going to NEED to trust others.

My wife is brilliant, but she has no time for me to explain how our multisig wallets work.  I have beautiful instructions typed up in the vault for when the bus hits me.  She trusts me.  This is a good thing.

I *LOVE* being around people I disagree with.  An easy example:  You and I are falling on different sides of this argument, and I APPRECIATE the discussion.  As much of a iconoclast as he was around here I quite enjoyed jbreher and miss him.  But the signal to noise in /r/btc is mind numbing.  I would give some ridiculous examples but it would be a waste of time.

It's narratives, narratives all the way down.

[Richy_T]

I *LOVE* being around people I disagree with.  An easy example:  You and I are falling on different sides of this argument, and I APPRECIATE the discussion.  As much of a iconoclast as he was around here I quite enjoyed jbreher and miss him.  But the signal to noise in /r/btc is mind numbing.  I would give some ridiculous examples but it would be a waste of time.

It's narratives, narratives all the way down.

Meh, there's noise everywhere and to my eye, a lot of the noise in r/btc is from trolls (of the bitcoin maximalist and (non-bch) shitcoin variety). Though I have to say that I don't use Reddit anywhere near as much as I used to since they got hijacked by the left (though a few technical subs are still OK). I find bch less interesting these days anyway. Because it was formed from a split, there was a window where it had to succeed or fail and I think we're out of that window and success hasn't been attained. It's clear the honey-badger is still the honey-badger and now it remains to be seen how it deals with capacity issues (I am obviously not as optimistic for LN as you are).

Just of note, I tend to deliberately keep that argument out of here. It's not really relevant and tends to upset the natives. I'll usually only bring it in where I think it's directly relevant and then only in relation to BTC itself (i.e. I'll discuss capacity but not in relation to other coins which have addressed it).