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

[shahzadafzal]

$56k THE FUTURE IS HERE again!!!

Welcome back old friend, long time no see... last time we saw you was 6 May 2021.





Edit:
In case you are wondering we have met before like 5 times before, but this was the longest break you took

20 Feb 2021
10 Mar 2021
29 Mar 2021
30 Apr 2021
06 May 2021

in Urdu we say

صبح کا بھولا شام کو واپس آجائے تو اسے بھولا نہیں کہتے

It would translate into English something like... "If someone left the house angrily in the morning... but comes back in the evening, you won't call him/her angry any more"
 

[OutOfMemory]

Translated from german, OT:

EU is working on the “master key” for social networks

At the meeting of interior and justice ministers in Luxembourg, which ended on Friday, the start of an EU regulation against secure encryption in social networks was quietly and secretly set. Commissioner Ylva Johansson had such a regulation
(Interior department) already announced in spring.

It was discussed how WhatsApp and Co. should be obliged to compromise their end-to-end encryption (E2E) with master keys and to transfer chats in plain text to the prosecutors. According to Johansson, this is necessary to track child abuse online. The subject was not mentioned in the press release after the ministerial meeting.

Few things get me angry, but this one is exceptionally hard to swallow.
I don't use facefook and whatsCrap, tho.

EDIT: How about "democracy abuse", this would probably get most of these fuckers into jail.

[JayJuanGee]

I wonder who are the a-holes selling (or trying to) this down every freaking Sunday.

They gotta try... to push it down.. .if they can?  They?  I am feeling like Torque...

They should not give up trying to push the BTC price down...

Pretty soon they are going to realize that they are in no man's land, and realize that their many efforts to sell BTC and to keep the price of lillie fiend down were for naught....

Of course, keeping the price below $55k would help to fight both the actual physical and psychological dynamics of actually being in the lower levels of no man's land, so it seem there has been some last ditch desperate and ongoing efforts, so if they end up being successful, and keep no man's land from happening, then they can stave off $80k.. otherwise.. pretty much $80k is seemingly in the cards... even though of course there will be some folks who continue to NOT realize that we are in no man's land, and therefore continue to sell BTC when they should either be HODLing or buying and perhaps selling closer to $80k or above $80k might be more prudent.  Perhaps?  perhaps?

[ChartBuddy]

Explanation

[serveria.com]

Translated from german, OT:

EU is working on the “master key” for social networks

At the meeting of interior and justice ministers in Luxembourg, which ended on Friday, the start of an EU regulation against secure encryption in social networks was quietly and secretly set. Commissioner Ylva Johansson had such a regulation
(Interior department) already announced in spring.

It was discussed how WhatsApp and Co. should be obliged to compromise their end-to-end encryption (E2E) with master keys and to transfer chats in plain text to the prosecutors. According to Johansson, this is necessary to track child abuse online. The subject was not mentioned in the press release after the ministerial meeting.

Few things get me angry, but this one is exceptionally hard to swallow.
I don't use facefook and whatsCrap, tho.

EDIT: How about "democracy abuse", this would probably get most of these fuckers into jail.

Well, this one's like "China bans crypto". They have been threating to pass this law for years.  

[AlcoHoDL]

Translated from german, OT:

EU is working on the “master key” for social networks

At the meeting of interior and justice ministers in Luxembourg, which ended on Friday, the start of an EU regulation against secure encryption in social networks was quietly and secretly set. Commissioner Ylva Johansson had such a regulation
(Interior department) already announced in spring.

It was discussed how WhatsApp and Co. should be obliged to compromise their end-to-end encryption (E2E) with master keys and to transfer chats in plain text to the prosecutors. According to Johansson, this is necessary to track child abuse online. The subject was not mentioned in the press release after the ministerial meeting.

Few things get me angry, but this one is exceptionally hard to swallow.
I don't use facefook and whatsCrap, tho.

EDIT: How about "democracy abuse", this would probably get most of these fuckers into jail.

Yeah, right. As if criminals and pedos use WhatsApp and Facebook Messenger to communicate. Even many "normal" people have stopped using this crap. Haven't they heard of Signal, PGP and Tor? There's always going to be a way to securely communicate. They cannot unwrite cryptography. Just like they cannot undo Bitcoin. Fucking morons.

[Syke]

$56k THE FUTURE IS HERE again!!!

Welcome back old friend, long time no see... last time we saw you was 6 May 2021.

Those things never connected above 44k. I never want to see 44k again. Here's to the moon!

[ChartBuddy]

Explanation

[Richy_T]

Translated from german, OT:

EU is working on the “master key” for social networks

At the meeting of interior and justice ministers in Luxembourg, which ended on Friday, the start of an EU regulation against secure encryption in social networks was quietly and secretly set. Commissioner Ylva Johansson had such a regulation
(Interior department) already announced in spring.

It was discussed how WhatsApp and Co. should be obliged to compromise their end-to-end encryption (E2E) with master keys and to transfer chats in plain text to the prosecutors. According to Johansson, this is necessary to track child abuse online. The subject was not mentioned in the press release after the ministerial meeting.

Few things get me angry, but this one is exceptionally hard to swallow.
I don't use facefook and whatsCrap, tho.

EDIT: How about "democracy abuse", this would probably get most of these fuckers into jail.

Never irrelevant

[ChartBuddy]

Explanation

[AlcoHoDL]

Rise and shine, fellow WOers, and a wonderful start of the week!

NGU, I see. Nice. Expected. Still kinda boring. Needs moar UPpity.



HoDL.

[ChartBuddy]

Explanation

[LoyceV]

Enlighten me: why has the gold price been dropping in the past year?

(image source)

From my (limited) understanding of economics, I'd expect gold to go up when (the fear of) inflation kicks in. But instead, it stopped going up the moment the inflation went up. Is this "normal"? Or could it have to be with Bitcoin taking over part of gold's safe haven position?

[ChartBuddy]

Explanation

[BobLawblaw]

Ok, so, retard Lightning Network question.

Some of the new routes I established yesterday are starting to see activity, after viewing the logs.

Is my understanding correct of the "Fee (mSats)" - that number is the profit I'm making on routing that transaction, or is that being completely misunderstood?

[shahzadafzal]

Enlighten me: why has the gold price been dropping in the past year?

(image source)

From my (limited) understanding of economics, I'd expect gold to go up when (the fear of) inflation kicks in. But instead, it stopped going up the moment the inflation went up. Is this "normal"? Or could it have to be with Bitcoin taking over part of gold's safe haven position?

Well I heard this from a gold trader... reason of prices going down is "low demand". For last year (could be linked to pandemic) sales of Gold have been declining and reason are directly linked to two countries China and India. They by far the largest Gold consumers of gold in the world. So when demand is low in these two countries prices will drop all over the world.




In addition to that inflation is another factor "Surge in Supply" when supply is increased in and demand already declining price of gold is bound to fall. Although China and Russia are the largest producers of Gold in the world but I guess Africa's Gold supply didn't decrease during this pandemic, because Africa was the least affected area during this COVID crises. My friend working in Ghana in this Gold trade told me they were out of cash to buy any gold from locals and these locals they were giving the gold on promise of getting payment whenever available (could be between 2-3 months). So definitely supply has been increased but without demand.

[OutOfMemory]

Translated from german, OT:

EU is working on the “master key” for social networks

At the meeting of interior and justice ministers in Luxembourg, which ended on Friday, the start of an EU regulation against secure encryption in social networks was quietly and secretly set. Commissioner Ylva Johansson had such a regulation
(Interior department) already announced in spring.

It was discussed how WhatsApp and Co. should be obliged to compromise their end-to-end encryption (E2E) with master keys and to transfer chats in plain text to the prosecutors. According to Johansson, this is necessary to track child abuse online. The subject was not mentioned in the press release after the ministerial meeting.

Few things get me angry, but this one is exceptionally hard to swallow.
I don't use facefook and whatsCrap, tho.

EDIT: How about "democracy abuse", this would probably get most of these fuckers into jail.

Yeah, right. As if criminals and pedos use WhatsApp and Facebook Messenger to communicate. Even many "normal" people have stopped using this crap. Haven't they heard of Signal, PGP and Tor? There's always going to be a way to securely communicate. They cannot unwrite cryptography. Just like they cannot undo Bitcoin. Fucking morons.

Yeah, the agenda is kinda clear: Spying on average joe... 1984 seems to be late for 40 years  
Last year i got news that they want to ban messaging services that refuse to obey to the master-key dictate, speaking of Signal.
Banning Tor and projects like GPG and other frontends using encrypt/decrypt would probably lead to a full blown cyberwar.
Why not? It's clear who is the evil here.  

[BitcoinBunny]

Enlighten me: why has the gold price been dropping in the past year?

(image source)

From my (limited) understanding of economics, I'd expect gold to go up when (the fear of) inflation kicks in. But instead, it stopped going up the moment the inflation went up. Is this "normal"? Or could it have to be with Bitcoin taking over part of gold's safe haven position?

3000+ tonnes mined every year is why no one gives a crap.


Look Grandpa, I found a small piece of gold. Should I hold onto it? Maybe one day I can buy a chocolate factory! I will first have to find a secure way to store it and then sell it, it will take a long time to figure out but could be worth it.


I'm not sure Charlie. Maybe if you want to use it when you are my age it might be worth keeping. But look at me, I can barely get out of bed and I am stuck in here with 3 other old farts, literally smelling their farts right now. If I could go back being your age I'd invest in something cool, new and not something that old farts talk about. By my forties I'd want to be on a beach somewhere with beautiful naked young women.


Whooptie doo, Charlie has gold, Breaking News everyone, what a threat to my operation.
Tell me more about how you are going to run my chocolate factory when you can finally afford to buy it with that bit of gold in the future and have been dead for a million years.


Maybe I should just sell it to that dumb ass Peter Schiff and buy some Bitcoin instead.


F*ck!!

[Arriemoller]

Biltema dinner
Meatballs with mashed potatoes
And rust remover




My belated Sunday haiku.

[Syke]

Biltema dinner
Meatballs with mashed potatoes
And rust remover

How were the horse meatballs?