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Question: Will we close Nov. at or above Plan B's posited minimum of $98K?
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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25497754 times)
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September 15, 2021, 09:01:34 PM


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September 15, 2021, 09:13:58 PM
Merited by El duderino_ (5), Wekkel (1)

"macro-supply squeeze".  wow kids these days come up with the darnest things

That dude really is a "kid" too.. I think he's a 19 year old whiz-analyst... quit school to work for some analysis firm or something...

He knows what he’s talking about guys. Seriously, Will Clemente is a good follow. That kid is going places. What were the rest of us doing at 19? Good luck to him I say.
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September 15, 2021, 09:14:51 PM
Last edit: September 16, 2021, 04:06:28 PM by Torque
Merited by El duderino_ (5), d_eddie (1), OutOfMemory (1)

^ I actually catch myself more often thinking what china actually wants to achieve, lately.
Seems they are blindly trying to fix (economic) holes, not aware of the medium- and long-term consequences.
Short: "How to fail".

EDIT:
See, see... Bitcoin knocking at the € 41.000 door again.
Shouldn't take long until "the market" will open it  Grin

EDIT2: Of course, China may get a grip on their economy if they radically change it. They held the most powerful tool in their hands already, then they banned it, because they were too dumb to efficiently use their energy resources to get a significant share. But when you look at their totalitarian leaders, it was best this way for the rest of the world.

The Chinese govt worked very hard over the last ten years to stoke FOMO in their middle class and turn them from primarily savers into primarily consumers. They did this by issuing massive amounts of debt and building out consumer-driven infrastructure, i.e. "build it and they will come" with shopping centers, restaurants, hotels, high rises, venues, gambling, etc.

Some of it worked: the Chinese middle class has more money now, and they like to flex by shopping shopping shopping. Esp high end brands (think Nike, Calvin Klein, Prada, D&G, etc.). The middle class also increased their personal debt from 0 to something like $6K per household.

But much of it didn't work: the Chinese middle class still has little desire for buying houses (i.e., mortgages), cars (loans), expensive vacations, high end watches and jewelry, and all the little China-made crap consumer goods, etc. compared to Western countries consumption of those same things. Also, the average middle class Chinese family still has more savings than the equivalent Western family.

The biggest failure was not stoking enough internal consumerism to levels that match Western counterparts. As the rest of the world economies deflate, they desperately need their internal velocity of money to increase exponentially to compensate. So far, a big failure.
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September 15, 2021, 10:01:26 PM


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September 15, 2021, 10:11:18 PM
Merited by JayJuanGee (3), OutOfMemory (1)

I have my doubts about if AlcoHoDL would be presenting the pyramid scheme as an educative framework to explain bitcoin, unless he were merely striving to contrast bitcoin with such scheme in some kind of way.

Perhaps AlcoHoDL could chime in on this point in terms of whether he would use a pyramid scheme framework to explain bitcoin, merely as a contrast or in some other way.. As I already mentioned, seems distracting and misleading in terms of costs versus benefits in using it rather than helpful from my point of view.

I think OOM may have tried to use the term "pyramid scheme" in a different way than what you're suggesting. In any case, I agree with your statements quoted above. I don't like pyramid schemes (such as AmWay, and many others), and would never associate Bitcoin with pyramid schemes in a discussion with newbies/nocoiners. If anything, they are usually the ones who bring the pyramid scheme framework in the discussion, and falsely claim that Bitcoin is a pyramid scheme. In such cases, I try my best to explain/prove to them that Bitcoin is NOT a pyramid scheme, and is also NOT a Ponzi scheme (another term they often associate with Bitcoin). I try my best, but I fail miserably in most cases, it seems. They just don't get it, or they don't want to get it, or they think they get it and don't want to listen to me preaching to them about something they think they already know. Most of them seem to have already decided that Bitcoin is a scam...because the TV told them so.


I see your point. Let's move away from the pyramid thing, because it's an explanation only nocoiners tend to use, anyway.

[...]

I think OOM puts it quite nicely in his post above (which I snipped in the interest of readability). I think most people would treat anything as revolutionary as Bitcoin with a negative attitude. It's a natural reaction. I don't blame them. I just felt the need to "plant the seed" so to speak, and let it grow, or not. In most cases it dies. Maybe out of 30 people, one would buy a small amount of BTC, two would buy shitcoins because "Bitcoin is too expensive" and the rest would just dismiss it. Well, if you think about it, Bitcoin has shaken the foundations of a monetary system that all of us grew in and were brainwashed to trust and accept as the only way to handle monetary wealth. It's so deeply embedded in our brains that it's almost like a natural reaction, a millisecond response as OOM puts it.

"Bitcoin? Be your own bank? That can't be right! Surely it's a scam! Seed words? Is this some kind of word guessing game? What? Put my next month's paycheck in Bitcoin? Are you insane? And get what? QR codes?" That's more or less what I get. Or used to get. Because lately there is noticeably more interest in Bitcoin, and those who laughed and joked in 2015 are now asking seriously. My response now is "Google it". Not to punish them or anything, but because I just don't have the time and energy for this kind of thing anymore. After all, maybe that's the way it should be. Darwin, nature and all. Some will get it, some won't. That's life. I feel I did my part in spreading the word when I could, and I still do if I see really genuine interest.

I don't know... Being a Bitcoiner has been the best thing that's ever happened to me, certainly financially, but also psychologically. It's a weirdly satisfying, pleasantly powerful feeling that has got to be felt to be appreciated, as I'm sure many WOers would confirm. And I can't even begin to imagine how it will feel 5-6 4-8 years from now (a HoDLer can only count years in multiples of 4...)
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September 15, 2021, 10:21:41 PM

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September 15, 2021, 10:44:37 PM



Nah, this takes out Tether and finishes the collapse of bitcoin. Bitcoin below $10k within 1 year. Completely evaporates for all practical purposes within 2 years. This was the confirmed Chinese news we've all known was eventually coming.
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September 15, 2021, 11:01:26 PM


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September 15, 2021, 11:26:12 PM
Last edit: September 15, 2021, 11:44:39 PM by sirazimuth
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.....
Oh?  It's the same guy.

 Wink

ya think?

....
Nah, this takes out Tether and finishes the collapse of bitcoin. Bitcoin below $10k within 1 year. Completely evaporates for all practical purposes within 2 years. This was the confirmed Chinese news we've all known was eventually coming.

dude... I often wonder wtf is your purpose here?
The joke has long worn off.
I know, as everyone else does who frequents this thread, that you are packing a shitload of bitcoin, so what gives?
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September 15, 2021, 11:42:14 PM
Merited by JimboToronto (2), JayJuanGee (1), strawbs (1)

Debt default is deflation, it makes the worth of money that actually exists worth more I think.  I agree they'll end up turning it to inflation but I doubt we get an easy road where its only one side seen, I think we get both and a Richter scale graph where volatility has us swinging to both inflation and deflationary effects.   Its the FED who wants to insist they can ensure a smooth market where only one side occurs, supposedly they have proven that idea true but working wages of most common workers are now worth less under their tenure.

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September 15, 2021, 11:55:04 PM


....
Nah, this takes out Tether and finishes the collapse of bitcoin. Bitcoin below $10k within 1 year. Completely evaporates for all practical purposes within 2 years. This was the confirmed Chinese news we've all known was eventually coming.

dude... I often wonder wtf is your purpose here?
The joke has long worn off.
I know, as everyone else does who frequents this thread, that you are packing a shitload of bitcoin, so what gives?


Sussssh, he's hunting cwyptos.

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September 16, 2021, 12:01:34 AM


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September 16, 2021, 01:01:25 AM


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September 16, 2021, 02:01:25 AM


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September 16, 2021, 02:12:47 AM

Talking about China, have you noticed that it no longer says "Mainland China" or "Hong Kong" as place of origin on Chinese sellers pages on Ebay. It now says "Greater China" on all of them, sometimes followed by a city, including Hong Kong.
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September 16, 2021, 02:18:22 AM

Talking about China, have you noticed that it no longer says "Mainland China" or "Hong Kong" as place of origin on Chinese sellers pages on Ebay. It now says "Greater China" on all of them, sometimes followed by a city, including Hong Kong.

I noticed it is impossible to compete with Chinese sellers as they don't pay shipping.
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September 16, 2021, 03:01:34 AM


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September 16, 2021, 03:23:23 AM

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As of Tuesday evening, Bitcoin’s 50-day moving average stood at $45,802 whereas the 200-day moving average was at $45,875, according to Tradingview.com.

Bitcoin is soo going to print next golden crossover guys and the bulls are back to print another ATH and even prepared for some dips also not to worry.Have you got your pie of sats at these discounted prices because we are sailing towards next stop.

Golden Crossover opportunity
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September 16, 2021, 03:35:28 AM
Merited by JayJuanGee (3), psycodad (1)

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Inflation hits 18-year high, fuelled by pandemic factors printer going brrrrrr  

https://www.theglobeandmail.com/business/economy/article-canadas-inflation-rates-jumps-to-41-fastest-pace-since-2003

Quote
Canadian inflation surged in August at the quickest pace since 2003, fuelled by the summer reopening and other pandemic factors, and causing a stir on the campaign trail ahead of next Monday’s federal election. The consumer price index (CPI) jumped by 4.1 per cent in August from a year earlier, Statistics Canada said on Wednesday, up from 3.7 per cent in July. For five consecutive months, the annual rate of inflation has exceeded the Bank of Canada’s target range of 1 per cent to 3 per cent. However, the central bank expects higher inflation will be temporary, and some financial analysts said on Wednesday that price increases should slow in the coming months.

Not one mention of the primary cause of future fiat currency inflation: Quantitative Easing (aka printing money out of fresh air). And we're all holding the best hedge against it: BTC.
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