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

[Next-door]

Bitcoin hasn’t reached mass adoption because it isn’t being used as a medium of exchange. By spending bitcoin, we can demonstrate its usefulness as money.


Source : https://twitter.com/BitcoinNewslet1/status/1534219159806132224?t=j2MkpAh36xmVn6vzikwTXw&s=19

[1714276443]

1714276443

[JayJuanGee]

Don't put all of your eggs in one basket.

I guess this is what those geniuses over at the Fed do with all their free time, when they are not busy destroying the global economy. 

Totally.

However, compared to the first 4-5 years of BTC's existence, it's really mind blowing who is talking/writing about Bitcoin nowadays.

For sure, we likely could have graphs that go back to 2011 or so to reflect "who's talking about bitcoin"

and we could also have graph's going back to a similar timeframe to compare and contrast egg prices in regards to dollars and in regards to bitcoin.

It can be a bit more difficult to sort the signal and the noise when the time frames are so short (even if approaching 2 years - or -  18 months in the graphs in that Fred-Blog article).

What's the point that we might be trying to make?  Even govt wonks (or is it quants) are getting more into talking about bitcoin and using bitcoin as their frame of reference?  Or do we want to talk about how the egg price changes look relative to the dollar?  relative to bitcoin?

Bitcoin hasn’t reached mass adoption because it isn’t being used as a medium of exchange. By spending bitcoin, we can demonstrate its usefulness as money.


Source : https://twitter.com/BitcoinNewslet1/status/1534219159806132224?t=j2MkpAh36xmVn6vzikwTXw&s=19

Fuck off with any of those implied assertions that: 1) something is wrong with bitcoin, 2) bitcoin is not sufficiently being adopted (or fast enough), 3) people need to spend their bitcoin in order for bitcoin to  be valuable... 4) if people do not spend their bitcoin, then bitcoin is not going to survive (or have enough utility) 5) we need to do something quickly in regards to being able to spend bitcoin, otherwise the competition is going to eat bitcoin's lunch...

People can do whatever the fuck they want with their bitcoin, and surely there are some disincentives to spend bitcoin anyhow with some of the tax and accounting implications.. and even some of the possible tracking issues (KYC or whatever you want to call it), and if we might sometimes use the expression that normies are going to "get bitcoin" at the price they deserve.. we might also suggest that HODLers are going to choose to shave off some of their corns (aka precious lil) at the time and place of their own choosing... so stop trying to suggest that I have some kind of obligation to spend my corns for the mere sake of it... If you want me to spend some of my corns, then make me an offer for them. What you selling?  Is it worth it to sell corn or might you be taking dollars also?  Is there a price difference?  Do you even know my own situation?  I might not mind spending some of my corns, but if there are options to spend in various ways, then I am going to spend that other less valuable crapola first... if I have any of it...

Of course, on the other hand, if I ONLY have corns, then I don't mind taking an inferior deal in order to get whatever product that you might be offering to part with some or all of my lil precious, but surely I would consider that those who might have put their lil selfies in a position of 100% corn, have put their lil selfies into a pickle in which they do not have very many options, and part of any BTC HODLing strategy should involve figuring out how to manage some of the value allocations of value (which would likely include other kinds of assets and currencies) in order that the bitcoin that is held provides more options rather than fewer options.  In other words, ideally, hodling bitcoin should be putting the HODLer into a position of having more rather than fewer options.

[ChartBuddy]

Explanation

[BitcoinBunny]

Looks like Elon Musk is walking away from the Twitter buy which many suspected he would do.

[xhomerx10]

Don't put all of your eggs in one basket.

I guess this is what those geniuses over at the Fed do with all their free time, when they are not busy destroying the global economy.  

Totally.

However, compared to the first 4-5 years of BTC's existence, it's really mind blowing who is talking/writing about Bitcoin nowadays.

 The funny thing about that is, the default graphs only go back to Jan 2021 so they can make their comparison between bitcoin and the US dollar.  Funny how the graph seems to coincide with their point until you zoom out a bit and then...

 

 The graph only goes back to somewhere in 2015 for bitcoin but it seems as though you can afford nearly an infinite number of eggs now with your 2015 bitcoin whereas the volatility of eggs prices in US dollars is unbelievable going from a high of $2.96 to a low of $1.20  and back again in a rollercoaster-like fashion!  How is a homemaker supposed to budget groceries with that sort of volatility?!  Fuck you FRED for the disinformation (which for those of you who don't yet know is  purposeful misinformation).

 

[ChartBuddy]

Explanation

[empowering]

hwoooo boy.


Today.


Special day.



LOVE THIS SPACE.



Fucking love it.

[death_wish]

Is this what “friendly fire” looks like?  Although “go out and spend your coins” seems like overly simplistic poor financial advice, pushing for mass adoption of Bitcoin as money looks pro-Bitcoin to me.

Bitcoin hasn’t reached mass adoption because it isn’t being used as a medium of exchange. By spending bitcoin, we can demonstrate its usefulness as money.


Source : https://twitter.com/BitcoinNewslet1/status/1534219159806132224?t=j2MkpAh36xmVn6vzikwTXw&s=19

Fuck off with any of those implied assertions that: 1) something is wrong with bitcoin, 2) bitcoin is not sufficiently being adopted (or fast enough), 3) people need to spend their bitcoin in order for bitcoin to  be valuable... 4) if people do not spend their bitcoin, then bitcoin is not going to survive (or have enough utility) 5) we need to do something quickly in regards to being able to spend bitcoin, otherwise the competition is going to eat bitcoin's lunch...

Use of Bitcoin as money is what gives it fundamental value.

If a thing has no value other than the prospect of reselling it for higher to the greater fool, that is a textbook definitional Ponzi.  [Edit:  Similar applies as for anything that has no value other than hopes of gaining “passive income” from shell games tantamount to financial perpetual motion machines.]

>99% of altcoins meet that description.  Of each coin, as yourself:  “Why would anyone want to hold this, other than hoping that the price goes up?”  If the answer is “no reason”, then it is a Ponzi-style red-letter SCAM, period.

Too many newbies who buy into Bitcoin as mystified to discover that some people actually use it as money.  Yes, really:  Bitcoin is money!  I myself first got into it, because I wanted to use it as money.

Usage as money also deters the catastrophically detrimental error of treating Bitcoin as a sort of a quasi-stock.  When you buy Bitcoin, your dollar equity is zero.  You are exchanging one currency (USD, etc.) for another currency (BTC).  The only value you have is denominated in BTC, at a rate of 1 BTC = 1 BTC, unless you bring your BTC back to market; then, you get whatever exchange rate is available on the crypto-forex market at that time.  This is critical to Bitcoin’s sound-money properties—it is independent of other currencies—and incidentally, it is essentially why Bitcoin has never been regulated by the SEC, et al.  Bitcoin is not a security, and I want to batslap the hell out of every new “Bitcoin investor” who thinks of it as a sort of a newfangled stock-like thingie.

Edit:  With the foregoing having been stated objectively, and without regard to authorship, a check of Next-door’s post history is unimpressive.

[tanitel]

Not sure if this has been mentioned here. But I got below info from Bitstamp today. Most people should know by now that we should not keep crypto/money on exchanges. But in this case, it might be worth to have a small amount (if you use Bitstamp) in the account. Just to keep the account alive and not have to worry about KYC-process again..

Additionally, by amending our Fee Schedule, we are introducing the inactivity fee for inactive Bitstamp accounts. Bitstamp will have a right to charge you an inactivity fee (10 EUR per month) in case your account balance is less than 200 EUR and no transaction initiated by you or other activity generating rewards occurred in the last 12 months. In case of such inactivity on the account with zero balance, Bitstamp will reserve the right to terminate the account.

All changes will come into effect on August 6, 2022, and will be available under SA Terms of Use.

they tend to close the cycle as a whole art edifice:
there was already "not your keys, not your coins"
now you can add "not your money"
and so bitstamp recovers all main bank qualities.

[empowering]

POWER !!!!!!!!!!!!!!!!

[empowering]

[Gachapin]

Don't put all of your eggs in one basket.

I guess this is what those geniuses over at the Fed do with all their free time, when they are not busy destroying the global economy.  

Totally.

However, compared to the first 4-5 years of BTC's existence, it's really mind blowing who is talking/writing about Bitcoin nowadays.

 The funny thing about that is, the default graphs only go back to Jan 2021 so they can make their comparison between bitcoin and the US dollar.  Funny how the graph seems to coincide with their point until you zoom out a bit and then...

 

 The graph only goes back to somewhere in 2015 for bitcoin but it seems as though you can afford nearly an infinite number of eggs now with your 2015 bitcoin whereas the volatility of eggs prices in US dollars is unbelievable going from a high of $2.96 to a low of $1.20  and back again in a rollercoaster-like fashion!  How is a homemaker supposed to budget groceries with that sort of volatility?!  Fuck you FRED for the disinformation (which for those of you who don't yet know is  purposeful misinformation).

The whole Fred article seems really desperate to me...

[ChartBuddy]

Explanation

[ivomm]

Bart (squeezed a bit) upside down so quickly? Thats' unusual. What's next? Another Bart?

[fillippone]

Bitcoin pizza attack!

1. fillippone
Entry:

Wall of pizza is a first in the WO (wall of pizza>JJG’s wall of text).

WO gang! Fillippone needs your vote!
Click on the following link to Join the official Bitcointalk Discord Server:
https://discord.gg/ahgHyku

Then react with a pizza below your favourite Bitcoin Pizza!
https://discord.com/channels/708770300199698526/978036507979964497/978049219178938389

Achievement unlocked:



The Italian stallion got the pizza badge to celebrate victory in the Bitcointalk.org Pizza Bake-off contest!
My life is now complete.
Thank every one of you who voted for me!

[Gachapin]

Bart (squeezed a bit) upside down so quickly? Thats' unusual. What's next? Another Bart?

had the same thought... really close Barts this time...

[Dabs]

Bart (squeezed a bit) upside down so quickly? Thats' unusual. What's next? Another Bart?

had the same thought... really close Barts this time...

Looks like another Bart going down soon.

[serveria.com]

Bitcoin hasn’t reached mass adoption because it isn’t being used as a medium of exchange. By spending bitcoin, we can demonstrate its usefulness as money.


Source : https://twitter.com/BitcoinNewslet1/status/1534219159806132224?t=j2MkpAh36xmVn6vzikwTXw&s=19

I prefer to demonstrate it's usefulness during the blowoff top...  

[serveria.com]

Bitcoin pizza attack!

1. fillippone
Entry:

Wall of pizza is a first in the WO (wall of pizza>JJG’s wall of text).

WO gang! Fillippone needs your vote!
Click on the following link to Join the official Bitcointalk Discord Server:
https://discord.gg/ahgHyku

Then react with a pizza below your favourite Bitcoin Pizza!
https://discord.com/channels/708770300199698526/978036507979964497/978049219178938389

Achievement unlocked:



The Italian stallion got the pizza badge to celebrate victory in the Bitcointalk.org Pizza Bake-off contest!
My life is now complete.
Thank every one of you who voted for me!

Congrats man! Job well done! 

[cAPSLOCK]