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

[eXPHorizon]

Damn, have I missed something?

Why is there a TP buying craze again? What happened this time? End of the world? UFOs & shit? COVID-19-related?

Or is it just investors buying the dip?

There's a rumour Elon Musk is going to tweet about wiping his ass.

I *AM* sorry.  But *THAT* is merit-worthy.

I was embarrased by Kaiser at Miami.. but you know what?  He was right.  Fuck Elon.

Said this many years ago, Elon is just a Thief, he was at the right place at the right time to take advantage of the whole thing thats all there is to it. He didnt invent anything Its only a cashgrab for him

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[aesma]

Damn BTC and my stocks crashing, just as I was happy as I finally got FTTH. 1GBps connexion.

[ivomm]

Damn, have I missed something?

Why is there a TP buying craze again? What happened this time? End of the world? UFOs & shit? COVID-19-related?

Or is it just investors buying the dip?

There's a rumour Elon Musk is going to tweet about wiping his ass.

I *AM* sorry.  But *THAT* is merit-worthy.

I was embarrased by Kaiser at Miami.. but you know what?  He was right.  Fuck Elon.

Yeah, fuck Elon, fuck the communists! Elon has sold his soul a long time ago to winnie the pooh - china's version. Whatever the ccp says, Elon is repeating it. The truth behind Tesla removing Bitcoin payments is that Winnie has commanded his bitch Elon to do so, otherwise - no money! Now ccp is in distress and pulling hair - how to stop the collapse of their economy hence the ccp ruling. And they are blaming for everything Bitcoin - the mortal nemesis to the ccp   But the collapse of the ccp regime is inevitable, especially when the truth about the covid-19 created as a bio weapon and tested on the prisoners in the yiguri concentracion camps, becames known to the world.

[ChartBuddy]

Explanation

[WaltKitty]

Still printing lower high's with $33,4k support fading into resistance. Watching $28,6k for a potential lower low zone. This falling channel continues to chase legacy market's into July.

Three Lion's ftw but this is taking laser eyes to another level.
https://www.espn.com/soccer/england-eng/story/4429423/euro-2020-england-charged-after-kasper-schmeichel-lasered-before-harry-kane-penalty

[ChartBuddy]

Explanation

[philipma1957]

I see miners doing fine as price and difficulty are in synch.

when you look at the numbers.

25.05 diff with 64k price
14.36 diff with 34k price

12.95 diff with 31k price. seems to be happening.

all generate the same or close to the same in cash value.

They are perfect for a chip short builder that has a large farm outside of China.

This trend will not go away until the fall.

Until bitmain and other builders  get a lot of chips.

Nothing in the last eight weeks goes against this guess of mine.

So this time is different simply check the 2018 hashrate and difficulty rise while price dropped.

this time in 2021 hashrate and difficulty drop while price dropped.

[ChartBuddy]

Explanation

[Torque]

I see miners doing fine as price and difficulty are in synch.

when you look at the numbers.

25.05 diff with 64k price
14.36 diff with 34k price

12.95 diff with 31k price. seems to be happening.

all generate the same or close to the same in cash value.

They are perfect for a chip short builder that has a large farm outside of China.

This trend will not go away until the fall.

Until bitmain and other builders  get a lot of chips.

Nothing in the last eight weeks goes against this guess of mine.

So this time is different simply check the 2018 hashrate and difficulty rise while price dropped.

this time in 2021 hashrate and difficulty drop while price dropped.

I never bought the bullshit MSM narrative that "Chinese miners are getting kicked out of China due to govt crackdown."

That is total bullshit. They didn't go anywhere. They simply turned off part of their mining hash power to bring mining difficulty in line with lower price to maintain profit.

This is temporary. They will eventually turn it back on.

[aysg76]

There's a rumour Elon Musk is going to tweet about wiping his ass.

Seeing this the shitcoin holders who think Elon their saviour and market expert might rush to buy tissue papers he is using and next time toilet rolls manufacturers see a boost in their share price

[suchmoon]

It's exactly this kind of uninformed bullshit

Exactly. Because I said none of the bullshit that you're attributing to me. Next time try more reading and less projecting of your insecurities on others.

[Wekkel]

While you entertain yourselves with Covid nonsense, I keep my eye on the price: https://www.zerohedge.com/geopolitical/currency-wars-world-verge-epochal-monetray-revolution?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29

[Dabs]

I never bought the bullshit MSM narrative that "Chinese miners are getting kicked out of China due to govt crackdown."

That is total bullshit. They didn't go anywhere. They simply turned off part of their mining hash power to bring mining difficulty in line with lower price to maintain profit.

This is temporary. They will eventually turn it back on.

If miners are making profit, why will they turn off their equipment? If someone else turns off theirs, others will keep their own turned on, if possible.

The miners turned their equipment off to reduce the risk to them of their hardware getting confiscated or getting discovered. One does not "lower" the difficulty all by themselves.

But then, I never had warehouses full of equipment, the most I had before was what I could fit in a small room, so about a dozen small mining rigs or less. I turned mine off because I was paying more in electricity than I was mining, but then I lived in a country where electricity is not cheap.

[Torque]

If miners are making profit, why will they turn off their equipment? If someone else turns off theirs, others will keep their own turned on, if possible.

Hashrate rose to chase the run up in price by the whale traders using 100X leverage.

At ~$60K they were still profitable, but then the sudden crash to ~$30K and they weren't anymore. Exit the China 100X leverage momentum trade.

So hashrate had to fall in order for mining to become profitable again. It's going to be roughly the same for both large scale and smaller miners.

The miners turned their equipment off to reduce the risk to them of their hardware getting confiscated or getting discovered. One does not "lower" the difficulty all by themselves.

O rly? According to whom? Who told you that, the MSM? Lol  

[ChartBuddy]

Explanation

[psycodad]

It's exactly this kind of uninformed bullshit

Exactly. Because I said none of the bullshit that you're attributing to me. Next time try more reading and less projecting of your insecurities on others.

Maybe I was overreacting a lil bit and my last paragraph was meant to express just that and put my rant into some context and was also an obviously unsuccessful attempt at not burning all bridges behind.

But let me ask if I did misunderstand that you compared not getting vaccinated with not washing your hands after you poop and therefor implying it's question of intelligence or evolutionary retardedness to vaccinate or not?
(I am seriously asking this, because a lot of nuances of the english language get lost on me on times, sometimes it is difficult not being able to discuss complex matters in your non-native language, that's not an excuse but an attempt for an explanation if I got you so wrong).

If I misinterpreted you, then I am honestly very sorry and would like to apologize and promise I will try to learn from it. I do look like an idiot for yelling at an innocent bystander and that's ok and deserved. Sincerest apologies in this case.

If that's indeed what you meant, then I think I'll fully stick to my statement I made and I strongly believe you said exactly the bullshit I attribute to you. And I am fine with my insecurities if the alternative is to be the know-it-all type of person.

I'll stop derailing this very fine thread now, sorry to everybody else for bringing bad vibes here. I actually enjoy my time here generally a lot.

[sirazimuth]

....

In another universe, i was just called by "microsoft support" on the phone, with a spoofed national number.
I just laughed at the "security expert" and hung up. Next time i will turn the game around and keep him busy   (I dowloaded and installed your support software three times now, and you still can't access my computer? ... You're the expert, tell me what's wrong...   )
.....

Thought I'd lighten up the thread a little and post about something we can all agree on....

(edited)
Today I had fun with a phone scammer because I must have been bored.
(I'm on vacation, so these things happen)
It inspired another fun strummer uploaded to a SoundCloud near you....

Amazon Scammer

<snipped sing along words... see original post>

[Dabs]

O rly? According to whom? Who told you that, the MSM? Lol  

I guess it's like growing pot indoors. The authorities usually look for areas that have high electricity usage and target those for possible inspections, particularly if the bills are not being paid (stealing electricity is usually a bad idea, both for pot growers and bitcoin miners).

Leverage is also almost always a bad idea. I guess it also depends on the miners, if others shut off their equipment, you'd want to keep yours on so you make the most of the lower difficulty.

Miners will indeed always act in their own self interest, whether that's staying within the bounds of whatever law there is in their jurisdiction, or making sure they are profitable, both long term and short. I think most of them need to make money on an ongoing basis, and also to recover their capital investments in hardware / space.

I don't really know if it's not legal or whatever in China, but where ever you are, if something is not legal, you try your best to hide it, or relocate where it is legal. Also usually where it's cheaper.

[LFC_Bitcoin]

https://twitter.com/danheld/status/1413150899896160267?s=21


https://twitter.com/cz_binance/status/1413159625277403142?s=21

@DocumentingBTC
Unless you’re getting a 12% raise every year, you’re not even keeping up with the cost of inflation. #Bitcoin  fixes this.
https://twitter.com/documentingbtc/status/1413191899922542597?s=21

[ChartBuddy]

Explanation