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

[ChartBuddy]

Explanation

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[Gachapin]

While we are criticizing him, maybe take some time to watch this.  It's really the best interview so far.

https://www.youtube.com/watch?v=B2DDOyqRltg

Oh that's a new one. Thanks!

I already know most of his talking points and examples, but I feel with every interview he gets a bit better at delivering them.

And one hour is a good length to be shared with interested newcomers.


PS
Was not criticizing him at all. All he did was totally justifiably and in my eyes courageous & smart.

[savetherainforest]

What do you guys think about this 2x Sun thingy??    

https://www.youtube.com/watch?v=7ZPLl_LgmeQ

[ChartBuddy]

Explanation

[xhomerx10]

This article is hilarious.  I'm only posting the "reasons" because the article is quite long but there is an explanation for each reason if you follow the url:

https://bitcoinmagazine.com/culture/why-you-should-sell-your-bitcoin

WHY YOU SHOULD SELL YOUR BITCOIN
21 + 21 more reasons why you should sell all of your bitcoin now.
ALEKSANDAR SVETSKI

If you are panicking right about now, I implore you, in fact, I urge you to sell all of your bitcoin now. All of it.

No this is not a joke.

This article is not some trading analysis, pick-me-up full of hopium or copium.

This is going to outline a series of straight up facts and reasons why you should dump your bitcoin, especially before it goes any lower. Because believe me, it will.

Nature is healing.

42 Reasons to sell your Bitcoin:

1. If you believe it won’t go lower:

2. If you believe it won’t go higher:

3. If you believe in 14-year-old tea-leave analysts with large Twitter accounts:

4. The government cares about you:

5. "Some other crypto is going to take over”

6. Bitcoin is about “muh gainz:”

7. If you’re A16Z:

8. If you’re Conbase:

9. That blockchain is some kind of “underlying technology:”

10. That it’s Bitcoin and Crypto:

11. That bitcoin is democratic:

12. If you believe NFTs are art:

13. If you think PoS > PoW:

14. If you think Bitcoin wastes energy:

15. If you think ESG is about anything other than more political power and waste:

16. That bitcoin is about “equality:”

17. If you’re ready to own nothing and be happy:

18. If you want to live in the beta verse:

19. If you want to remain plugged into The Matrix:

20. If you want to be the lowest version of yourself:

21. If you believe in The Great Reset:

22. If you believe in the World Economic Forum and the rest of the three-letter agencies:

23. If you think $69,000 was the top:

24. If you think $600 to $300 is any different from $60,000 to $30,000:

25. If you think $42,000 was the bottom:

26. If you’re still watching Real Vision:

27. If you think “Toxic Maximalism” is a problem:

28. If you have posters of Nassim Nicholas Taleb and Paul Krugman on your wall:

29. If you’re an academic:

30. If you’re a progressive or Marxist Bitcoiner (whatever the fuck that means):

31. If you believe the “inflation is transitory:”

32. If you eat Beyond Meat:

33. If you “trust the science:”

34. If you believe any of this is normal:

35. If you think that “this time it’s different:”

36. If you think politics comes before economics:

37. If you think political decree can outcompete physical reality:

38. If you think the map is the territory:

39. If you believe complex systems can be modeled:

40. That transforming the world was going to be easy:

41. If your name is Peter Schiff, Raoul Pal, Elon Musk, Mark Cuban or Lex Fridman:

42. If you think I’m joking:

https://bitcoinmagazine.com/authors/aleksandarsvetski

[Gachapin]

This article is hilarious.  
...
https://bitcoinmagazine.com/culture/why-you-should-sell-your-bitcoin
...

Fuck me, what a laugh!

And what a great ending!


PS
It's probably obvious that McCormack isn't sharpest tool in the shed.  But that tweet def takes the cake.  What an idiot...

[ChartBuddy]

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[ChartBuddy]

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[ChartBuddy]

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[Biodom]

interrupt
no four in a row...

[bitebits]

Nearly 66% of bitcoin has not moved in over a year, marking an all-time high.


https://twitter.com/danheld/status/1533181953482039296

[ChartBuddy]

Explanation

[AnotherAlt]

WTF?

Go to this link and dare him to visit WO

https://twitter.com/coinbureau/status/1532965035844194304?

[ChartBuddy]

Explanation

[AlcoHoDL]

In my humble opinion, it all comes down to the link between energy and value, complex and inexplicable as it may be. Energy may or may not create value, but value requires energy. There is no "free lunch" in this universe.

This is one of those complex, philosophical topics where the answer is "Yes, but..."

Yes to what you stated above.

But...there are so many "things" in this world today that took a lot of energy and manpower to create (and thus had high value when first created), but their value has now fallen to near zero because humans no longer value them. They don't just retain their value long term because they had a high energy input.

This could happen to any "thing" created, because value is also subjective and is applied to "things" by the emotions of human beings.

What you're saying is true. Energy is a necessary but not sufficient condition for something to have value. You could pour a lot of energy into creating something very valuable, and it could then lose its value in the future, or energy could be wasted straight away (like the 10: GOTO 10 code example). In the first case, one could argue that the object's raw value hasn't actually been lost, but rather, it is not recognized or appreciated by society anymore (and hence could rise up again). On the other hand, energy is almost always needed in order to create something of value. Even in the case of the 10: GOTO 10 code example, if the computer executing the code warms up the home of a poor family, this pointless piece of code would be very valuable to them, equally valuable to any piece of code!

In the end, perhaps everything comes down to converting energy from one form to another. What matters is that the product of this conversion solves a problem, and if it does, the product becomes valuable.

[death_wish]

@saylor, thank you for speaking out about this.  It is now an issue of grave import and great urgence.

I really start to think that Saylor reads the WO...

Saylor runs a business intelligence (BI) company that specializes in analytics and data mining to guide strategic business decisions.  Although I don’t know anything about MicroStrategy’s internal operations, I’d wager that Saylor probably has operations to monitor Internet chatter about MicroStrategy’s cash reserve asset:  Bitcoin.  National intelligence agencies would call that “OSINT”.

This is not to start some rumour or grandiose conspiracy theory, but to the contrary.  I’m pointing out that even if the instances you cite are not all coincidental—a big “if”!—even if Saylor picked that latest theme up from my WO posts, it doesn’t necessarily mean that Saylor himself saw anything here, much less that he regularly reads WO.  For billionaires who run business intelligence services to get reports about interesting points raised in public discussions would seem quite mundane to me.

I’ll also go out on a limb here, and guess that maybe Saylor and his BI company noticed the POS issue all by themselves.  POS has been growing like an invasive weed strangling the whole “crypto” world.  For those who don’t live in a Bitcoin echo chamber, it is lamentably impossible to miss being assaulted with explicitly anti-Bitcoin POS propaganda.  Not to mention that Saylor is American; he may have noticed that the Biden administration dislikes POW.

We were just talking about POS yesterday. Today he tweets:


PoW is money. PoS is credit.

https://twitter.com/saylor/status/1533072638268035074?cxt=HHwWhMCyraTcyMYqAAAA

Jay, please don’t feel bad if I deem you overruled by Saylor.    This is now fully on-topic in WO:

[ANN] POS is Fork Wars 2.0

[...political news...]

This is a part of an organized, large-scale social, economic, and political attack being built against Bitcoin.  The overarching goal:  Make Bitcoin go POS.

Since Bitcoin survived the Fork Wars, this is the next iteration of an attempt to usurp Bitcoin.  To corrupt it.  To turn it into a tame market-circus animal in the service of big banks and VCs.

That said, I am strategically moving most of my approach to this out of WO.  Most of it.  I will probably still post about that here sometimes.

I wouldn't be surprised if he already has an account...

Please don’t incite the wannabe sleuths around here to start guessing which account is his.

On the other hand, it is an awful coincidence that I started sounding the alarm here in WO about POS being a serious threat to Bitcoin—and then Saylor tweeted about it.  By wannabe-sleuth standards, that amounts to proof that I am Saylor’s super-secret Bitcoin Forum account!

[death_wish]

With the internal quotation changed to something that you snipped from that post, to demonstrate a point:

POS and the “too much energy” organized propaganda campaign are political and economic attacks for the benefit of those who don’t want you to “Be Your Own Bank”.

Sen Cruz is right on that, don't be cocky and think that it is all hunky-dory. It is not.

I have spent the past few days shouting from the rooftops that Bitcoin is under existential threat.  I warned about attacks on Bitcoin in large-size bold letters, in the post to which you replied.  And I recently transcribed here in WO a part of Cruz’s speech comparing Bitcoin to Napster—warning Bitcoiners not to be naïve.

I’m “cocky”?  I think that “it is all hunky-dory”?

If you don’t read, don’t write a reply to what you didn’t read.

[death_wish]

https://twitter.com/coinbureau/status/1532965035844194304?

My personal Fear and Greed index is wired the opposite of most people’s.

When Bitcoin is up, I am afraid—because I don’t have enough BTC.  Well, too much is never enough—but I really, really do not have enough.  Thus, the more that BTC rises, the worse my fear that I may never have a decently-sized holding.

When Bitcoin crashes, I get greedy!  Bear markets get me greedy for cheap coins.  Sometimes, too greedy.  I started messing with margin in January—right when the mass-media chatter turned from “uncertain market” to “bear market, everyone afraid, Bitcoin is dead!”

[ChartBuddy]

Explanation

[death_wish]

Saylor got in very late, the Bitcoin party started long ago while he was busy playing the public critics role against Bitcoin most other figures in the Bitcoin community were busy accumulating more, now the music has changed and Saylor wants to join the party by all means. Anyways he is welcome on the list he can still fill some bags just left over anyway. The best pizza was served long ago.

You talk like a nocoiner poseur, putting on airs of Bitcoin pretenses while giving underhanded insults to Bitcoin.