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

[JayJuanGee]

We have had a modest attempt at a weekend dip that has failed.  Another attempt is surely coming but badger is looking resilient.  IF this resilience holds, this would be a bullish signal for next week.  

Bittrex just gave me a small heart attack.  Tether balances are not included in your wallet balance for reasons unknown.  

I am coming to a similar tentative conclusion that bear whales are having difficulties keeping BTC down, and if this state of affairs persists, it becomes more and more likely that UP is going to become the price direction of least resistance.

I will want to wait another 5 or so hours but things are looking strong for Monday and Tuesday.

You left out a very most important word. 

"Things" are looking fucking critical. 

[JayJuanGee]

Tell me about the evils of Bittrex. 

they worship satan ~ want to dox all their users ..they are diametrically opposed to satoshis' vision :\ meh #bittrexdoom

To whom is Bittrex "doxing" their users?

Is Bittrex relatively worse at "doxing" its users than what is suspected of Coinbase?

[itod]

I just send lightning network devs that we need this update soon, and spammed them like 10 e-mails. Guys do it also and send them messages to the e-mail below.


E-mail: contact@lightning.network
E-mail title: We need good news for btc growth.
Inside E-mail : Please guys you're the only ones that can make it moon.




Keep spamming them so they can read.

It's a promotional channel, no living being there except (maybe) part-time secretary who occasionally browses through those emails. If you ever worked in the IT industry you would know that developers are rather picky about which emails they read. Outside mail from bosses, colleagues that work on the same things, notifications from the makers of the tools they use, and high-priority support tickets nothing passes through their mail filters. Email is just a time-eater and is best used as little as possible.

[bonipper]

.. December's BTC gains from 10-20K freaked me out a bit.  

I thought $10k was the top and expected a crash back down to $7k. It really freaked me out when it relentlessly kept pumping up to $20k.

Since then the exchanges freezing new registrations have made it glaringly obvious how many newbies are buying in. With that much new money coming in I doubt bitcoin will have a big crash.

I'm inclined to agree with your view that it will go sideways while the newbies use it to buy alts. Maybe in a few months we will see another pump.

[smartcomet]

..."Current estimates of total worldwide household wealth that I have found range from $100 trillion to $300 trillion. With 20 million coins, that gives each coin a value of about $10 million."....

https://www.mail-archive.com/cryptography@metzdowd.com/msg10152.html

What you´re saying ?  I´m a rich bitch, or, . . . naah

I'd start with $100k, which is maybe this year or next year, we don't know for sure. $1m will come in a few short years, so keep a few set aside in cold storage or something. You can go play (and probably lose) the rest.

In my mind, between 2025 and 2035 is when all the "practical" bitcoins have been mined, or we are close to 99% mined. The next one hundred years is for the last bitcoin, and that quantity matters less, but cost of production of those last few bitcoins will drive the price of the entire marketcap.

Here is the coin supply schedule estimated:

Current bitcoins: 16 million, Block Reward 12.5 BTC
By 2018: 17 million
By 2020: 18 million, Block Reward 6.25 BTC
By 2022: 19 million
By 2024: 19.68 million 93.75%, Block Reward 3.125 BTC
By 2028: 20.34 million 96.87%, Block Reward 1.5625 BTC
By 2032: 20.67 million 98.44%, Block Reward is below 1 BTC.
By 2036: 20.83 million 99.22%
By 2056: 20.99 million 99.99%

By 2064: Less than 1300 BTC added per year
By 2080: Less than 100 BTC added per year
By 2100: Less than 2 BTC added per year
By 2108: The last full bitcoin has been added
By 2144: Mining is purely transaction fees.

Between 2036 to 2144, most or all miners will receive more in transaction fees, than the coinbase block reward.

I think 2025 to 2026 which is less than 10 years away, for all intents and purposes, all bitcoin has been practically mined, and we should see price adjust accordingly. USD is likely to be 100k to 500k by this time, depending on who you believe predicts the price.

2030ish is the decade where we see bitcoin go full million dollars or higher.

HODL

[sirazimuth]

Tell me about the evils of Bittrex.  

I think they are fucking with you

Shame. I was hoping to hear it was a Freemason conspiracy to suppress silver prices.

Freemasons?!?..wait a minute, dont you mean the cucks and the jews?..

[Torque]

It's 'bout fkn time:

https://twitter.com/brian_armstrong/status/951869357931425792

I guess it only took a signed petition and threats of a Coinbase boycott for this genius to figure it out. 

[Elwar]

Random Anecdote - 1%'er Edition: Recently wired $500k from an exchange from the sale I did @ $14.5k to one of my financial institutions, and ran into a bit of a snag.

I was looking to wire that $500k to another financial institution that is setting up my retirement package/plan.

Turns out financial institution that I wired the funds to initially, only allows $100k wire transfers out, per day.

"Sheeit."

So I type up a nice pleasant message to customer service, and CC my account manager, and am all like "Howdy folks. I'm preparing for retirement, and going to be moving a lot of money around ahead of that. Can I have my transfer limits increased to $1M per day ?"

Few hours later, I get back a really freaking super chill and nice response back from customer service essentially saying "Hey Bob. First off thanks for being such a great customer for such a long time and trusting us with your fiatcoin. We looked over your account, and yeah bro, $100k is the limit for online stuff. You can walk into any branch and have them do the full wire transfer for you in one go. We just can't do that shit online for security, and stuff, yo."

Duh.

I'll visit the branch on Tuesday and have 'em just wire out the full amount to my other institution.

Banking is such a silly thing.

Biggest problem with Bitcoin is always its interaction with fiatcoin.

[Elwar]

It's 'bout fkn time:

https://twitter.com/brian_armstrong/status/951869357931425792

I guess it only took a signed petition and threats of a Coinbase boycott for this genius to figure it out. 

I finally got a Trezor mainly because it seemed like the easiest way to put my money in a Segwit wallet. Plus I opened my blockchain.info wallet on my phone one day and it had over $1m on it (forgot that I synched it a while back).

[Toxic2040]

Waiting for the Random Anecdote - .01%'er Edition.

[JayJuanGee]

Waiting for the Random Anecdote - .01%'er Edition.

"Problem" with Bob seems that he is a newly rich 1%-er, who could likely transform into a .01%, depending in part on BTC/crypto price performance, yet Bob is still a bit goofy "like one of us" - a little bit.   

[Deeyoh]

Haha, Bob.. PM me one of your old Private keys so I can grab the bitcoin diamonds

[bones261]

I know this is off topic, but it appears someone spammed the BCH mempool, recently. It appears some of the pools are electing to only mine 1MB blocks, others 2MB blocks and a couple the full 8 MB blocks.  

https://cash.coin.dance/blocks
https://jochen-hoenicke.de/queue/cash/#24h

What's the point of having big blocks when one of the mystery miners will only mine 1MB blocks?

[Toxic2040]

Waiting for the Random Anecdote - .01%'er Edition.

If any of the projections for valuation of BTC/USD around the 2020 timeframe come true, the long-term gains tax on the sale of 1 BTC would likely be more than most people would take home in a year from their jobs.

Gentlemen problem's right?

"Problem" with Bob seems that he is a newly rich 1%-er, who could likely transform into a .01%, depending in part on BTC/crypto price performance, yet Bob is still a bit goofy "like one of us" - a little bit.   

Seven figure plus checks dont come around all that often..I'll admit I bounced around like a mad hare first time I saw one with my name on it. Bob's fine..he still dealing with that post coitus glow of ahhh...I CAN see light at the end of the tunnel.

[jojo69]

It's 'bout fkn time:

https://twitter.com/brian_armstrong/status/951869357931425792

I guess it only took a signed petition and threats of a Coinbase boycott for this genius to figure it out. 

what's with all the digibyte chatter in the comments?

[somac.]

It's 'bout fkn time:

https://twitter.com/brian_armstrong/status/951869357931425792

I guess it only took a signed petition and threats of a Coinbase boycott for this genius to figure it out. 

Hells yeah, I was getting really pissed at these arseholes. Maybe they have decided to stop biting the hand that feeds them. These pricks should be doing everything to support BTC, not trying to ruin it out of some kind of childish spite. I hope their attitude is changing.

[HairyMaclairy]

I know this is off topic, but it appears someone spammed the BCH mempool, recently. It appears some of the pools are electing to only mine 1MB blocks, others 2MB blocks and a couple the full 8 MB blocks.  

https://cash.coin.dance/blocks
https://jochen-hoenicke.de/queue/cash/#24h

What's the point of having big blocks when one of the mystery miners will only mine 1MB blocks?

Let’s start a campaign for bigger Bcash blocks.

Somac:  don’t bet on it.  They are crooks.

[jojo69]

Let’s start a campaign for bigger Bcash blocks.

why even have a limit?  let's put pornhub on the blockchain

[bones261]

It's 'bout fkn time:

https://twitter.com/brian_armstrong/status/951869357931425792

I guess it only took a signed petition and threats of a Coinbase boycott for this genius to figure it out. 

Hells yeah, I was getting really pissed at these arseholes. Maybe they have decided to stop biting the hand that feeds them. These pricks should be doing everything to support BTC, not trying to ruin it out of some kind of childish spite. I hope their attitude is changing.

It's probably self preservation. Their poor UTXO managment has rendered many of their inputs as basically unspendable.

[HairyMaclairy]

Let’s start a campaign for bigger Bcash blocks.

why even have a limit?  let's put pornhub on the blockchain

Raiblocks are free. Let’s put YouTube on Rai.