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

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I thought this was a really good comparison: Striking similarity between Ellen DeGeneres' 2018 "Bitcoin Explanation" and 1994 Today's Show "What is the Internet, Anyway?"

Perhaps 2018 is bitcoin's 1994.

Hopefully not to the tee. If the timeline was the same we'd be quite far off from mainstream adoption. Wouldn't mind seeing it a bit earlier than that. Wasn't the internet fairly unpopular until 2012ish and on? Don't really remember when it exploded anymore since I kept doing my thing unphased.

Now that we have the internet, BTC will explode onto the mainstream much faster. Every year now will be like 5 pre-internet-ubiquity years.

[ChinkyEyes]

Sometimes I seriously wonder if people have some unconscious desire to be poor and mediocre. I just cannot fathom how somebody could wish to be more than they are without trying to work towards that goal with even the tiniest increments.

This bothers me a lot about people. I can't get why they are not willing to change up their lifestyle and mindset to reach the goals they desire. My theory on why so far, is that they are easier satisfied and they are happy enough with things staying like the way they are. Therefore don't feel the need to work on oneself. Some people just don't need much in life and are perfectly fine being mediocre. It's something that I sometimes I admire in people, the simplicity of being satisfied with less.

But why would they complain so much if they were satisfied? And why would depression and suicide rates both be climbing?

That is a very good question, but we cannot just assume that it's because the whole population of the poor and mediocre are all depressed and suicidal deep inside. Even smart people seem to be more likely to be depressed and doubt one self. Because they tend to live more in their head and overthink things.

With the arrival of the information age I think we have produced way more smart people than ever before. The internet has become such a powerful tool to educate yourself, anybody with an cellphone has a tremendous amount of knowledge in their pocket. Too bad many people choose to not use it to it's fullest potential. So that could be one of the reasons why depression and suicide rates are climbing. I'm not sure I have not done research on this matter.

[JimboToronto]

Wasn't the internet fairly unpopular until 2012ish and on?

LOL.  Ever heard of an AOL CD?

At one point in the '90s more than half the CDs in the world were AOL CDs. That's a lot of polycarbonate. 

[Toxic2040]

Now that we have looked into game theory, lets take a peek at large data sets.

a-day-in-the-life-of-Americans

[Biodom]

That is a very good question, but we cannot just assume that it's because the whole population of the poor and mediocre are all depressed and suicidal deep inside. Even smart people seem to be more likely to be depressed and doubt one self. Because they tend to live more in their head and overthink things.

With the arrival of the information age I think we have produced way more smart people than ever before. The internet has become such a powerful tool to educate yourself, anybody with an cellphone has a tremendous amount of knowledge in their pocket. Too bad many people choose to not use it to it's fullest potential. So that could be one of the reasons why depression and suicide rates are climbing. I'm not sure I have not done research on this matter.

There were several polls where people tried to find a correlation between the income and happiness.
The population of US as a whole indicated that increases up to 75K/year would make them happier, but further increase would not (average US family income is about 50-53K).

Then, the second poll only dealt with millionaires ($8 mil average).
Millionaires indicated that they need 500% to 1000% increase in their wealth to feel happy.
High expectations!

[julian071]

Sometimes I seriously wonder if people have some unconscious desire to be poor and mediocre. I just cannot fathom how somebody could wish to be more than they are without trying to work towards that goal with even the tiniest increments.

This bothers me a lot about people. I can't get why they are not willing to change up their lifestyle and mindset to reach the goals they desire. My theory on why so far, is that they are easier satisfied and they are happy enough with things staying like the way they are. Therefore don't feel the need to work on oneself. Some people just don't need much in life and are perfectly fine being mediocre. It's something that I sometimes I admire in people, the simplicity of being satisfied with less.

It's a matter of perspective. Some may find the persuit of riches a display of emptyness of the soul, and poor, in a spiritual way. Mediocre, so to speak.

My GF will never ever be rich. She works with the elderly in a nursing home. Pays shit and is totally brutal in all kinds of ways from time to time. On the other hand very rewarding too, the people she takes care of are often very grateful (when they're not flinging their own feces because they're so demented they think that is the only way to defend themselves from the strangers they find themselves surrounded with), and she knows she is really making a difference in the lives of those people.

I could never ever do that kind of work, respect her very much for it. Find it a lot harder to respect people who think they are better because they are richer.

[BTCMILLIONAIRE]

I thought this was a really good comparison: Striking similarity between Ellen DeGeneres' 2018 "Bitcoin Explanation" and 1994 Today's Show "What is the Internet, Anyway?"

Perhaps 2018 is bitcoin's 1994.

Hopefully not to the tee. If the timeline was the same we'd be quite far off from mainstream adoption. Wouldn't mind seeing it a bit earlier than that. Wasn't the internet fairly unpopular until 2012ish and on? Don't really remember when it exploded anymore since I kept doing my thing unphased.

Not sure of the year but I think it exploded when the 56k modem finally arrived and you didn't have to wait 30 minutes for a playboy pic to load anymore.

Maybe the US was different, but I remember the internet still being very much fringe even when the first DSL flat rates were just coming out.

Sometimes I seriously wonder if people have some unconscious desire to be poor and mediocre. I just cannot fathom how somebody could wish to be more than they are without trying to work towards that goal with even the tiniest increments.

This bothers me a lot about people. I can't get why they are not willing to change up their lifestyle and mindset to reach the goals they desire. My theory on why so far, is that they are easier satisfied and they are happy enough with things staying like the way they are. Therefore don't feel the need to work on oneself. Some people just don't need much in life and are perfectly fine being mediocre. It's something that I sometimes I admire in people, the simplicity of being satisfied with less.

But why would they complain so much if they were satisfied? And why would depression and suicide rates both be climbing?

That is a very good question, but we cannot just assume that it's because the whole population of the poor and mediocre are all depressed and suicidal deep inside. Even smart people seem to be more likely to be depressed and doubt one self. Because they tend to live more in their head and overthink things.

With the arrival of the information age I think we have produced way more smart people than ever before. The internet has become such a powerful tool to educate yourself, anybody with an cellphone has a tremendous amount of knowledge in their pocket. Too bad many people choose to not use it to it's fullest potential. So that could be one of the reasons why depression and suicide rates are climbing. I'm not sure I have not done research on this matter.

I overthink 24/7. It's what I enjoy the most, even when it gets frustrating at times. Also, having information available or even knowing it by heart doesn't mean that you're going to be great at assimilating it or at creating things by drawing from your knowledge and reshaping it into something new. It's why schools utterly fail to produce outstanding people.

But you're right, depression isn't just common among mediocre people. I believe there was a study that concluded that people with much less (e.g. those that are basically starving and have nothing) tend to be happier on average than people in first world countries. Not sure how rigorous that study was though.

[BTCMILLIONAIRE]

Sometimes I seriously wonder if people have some unconscious desire to be poor and mediocre. I just cannot fathom how somebody could wish to be more than they are without trying to work towards that goal with even the tiniest increments.

This bothers me a lot about people. I can't get why they are not willing to change up their lifestyle and mindset to reach the goals they desire. My theory on why so far, is that they are easier satisfied and they are happy enough with things staying like the way they are. Therefore don't feel the need to work on oneself. Some people just don't need much in life and are perfectly fine being mediocre. It's something that I sometimes I admire in people, the simplicity of being satisfied with less.

It's a matter of perspective. Some may find the persuit of riches a display of emptyness of the soul, and poor, in a spiritual way. Mediocre, so to speak.

My GF will never ever be rich. She works with the elderly in a nursing home. Pays shit and is totally brutal in all kinds of ways from time to time. On the other hand very rewarding too, the people she takes care of are often very grateful (when they're not flinging their own feces because they're so demented they think that is the only way to defend themselves from the strangers they find themselves surrounded with).

I could never ever do that kind of work, respect her very much for it. Find it a lot harder to respect people who think they are better because they are richer.

I would even go as far as arguing that rich people who think they're better than others are the biggest retards of all for having "made it" without learning anything whatsoever along the way.

[HairyMaclairy]

We have (barely) broken the downward channel which has dominated since $17k.   Even if the pump doesn’t hold, the channel is now vulnerable.  It could be the end of the bear market.

I have a hard time thinking of this pullback from a monster pump as anything close to a bear market.

Most would consider a 70% retracement from ATH as a crash.  Even in Bitcoin.  I am not wordy man so I will leave it at that.

[HairyMaclairy]

Leveraged Longs v leveraged shorts have momentarily stabilized at 2:1.   Is this what a balanced market looks like?  Mem pool is back to growing ever so slightly.

[ChinkyEyes]

I thought this was a really good comparison: Striking similarity between Ellen DeGeneres' 2018 "Bitcoin Explanation" and 1994 Today's Show "What is the Internet, Anyway?"

Perhaps 2018 is bitcoin's 1994.

Hopefully not to the tee. If the timeline was the same we'd be quite far off from mainstream adoption. Wouldn't mind seeing it a bit earlier than that. Wasn't the internet fairly unpopular until 2012ish and on? Don't really remember when it exploded anymore since I kept doing my thing unphased.

Now that we have the internet, BTC will explode onto the mainstream much faster. Every year now will be like 5 pre-internet-ubiquity years.

I agree, with social media, the news is in your face 24/7 now. It's insane how much the mobile phone has become a part of life. We are not far away from mainstream, Bitcoin as a brand has already been implemented in everybody's brain. As seen in the video of Ellen DeGeneres everybody knows about the brand Bitcoin, but they can't explain what it is. A few more cycles of bitcoin mooning and the mainstream media does the rest.

[explorer]

Sometimes I seriously wonder if people have some unconscious desire to be poor and mediocre. I just cannot fathom how somebody could wish to be more than they are without trying to work towards that goal with even the tiniest increments.

This bothers me a lot about people. I can't get why they are not willing to change up their lifestyle and mindset to reach the goals they desire. My theory on why so far, is that they are easier satisfied and they are happy enough with things staying like the way they are. Therefore don't feel the need to work on oneself. Some people just don't need much in life and are perfectly fine being mediocre. It's something that I sometimes I admire in people, the simplicity of being satisfied with less.

It's a matter of perspective. Some may find the persuit of riches a display of emptyness of the soul, and poor, in a spiritual way. Mediocre, so to speak.

My GF will never ever be rich. She works with the elderly in a nursing home. Pays shit and is totally brutal in all kinds of ways from time to time. On the other hand very rewarding too, the people she takes care of are often very grateful (when they're not flinging their own feces because they're so demented they think that is the only way to defend themselves from the strangers they find themselves surrounded with).

I could never ever do that kind of work, respect her very much for it. Find it a lot harder to respect people who think they are better because they are richer.

I would even go as far as arguing that rich people who think they're better than others are the biggest retards of all for having "made it" without learning anything whatsoever along the way.

I'm Roger Ver, you poor fucks!

[romneymoney]

I thought this was a really good comparison: Striking similarity between Ellen DeGeneres' 2018 "Bitcoin Explanation" and 1994 Today's Show "What is the Internet, Anyway?"

Perhaps 2018 is bitcoin's 1994.

In 1994 I was a freshman at college.  The campus had recently been wired for data, so we had an always on internet connection in the dorms.  Despite that most of my activity was local/offline on my 486 dx2 playing Mortal Kombat.   I recall using gopher to retrieve a radar image during a snowstorm and accessing my files on the "cloud" at the computer lab, but that's about it.  The internet was there, but without a browser it wasn't much like what we think of now.
By 1998 things had changed alot.  Win 95/98 IE/Netscape made it much more useful and simple to use the internet and sites began to proliferate.  I had dropped out to take a 35k job at a search engine optimization company (which seemed like alot at the time) that quickly went out of biz, but my connections from that job led to other connections that have kept me working for the 20 years since.

tldr; if it's 1994,  buckle up, things will be unrecognizable in 4 years.

[HairyMaclairy]

Tera:  you have been very quiet lately. Care to share your thoughts on the state of the market?  Do you think we are still shaping for a bull trap or is this the real deal ^TM?

[Wekkel]

In terms of awareness it is probably 1998 but adoption wise it is probably around 1995 with just the university kids on the Net. Cool colleagues have just started trading crypto but the rest is still ignoring it. Some probably will the rest of their lives 

[ChinkyEyes]

That is a very good question, but we cannot just assume that it's because the whole population of the poor and mediocre are all depressed and suicidal deep inside. Even smart people seem to be more likely to be depressed and doubt one self. Because they tend to live more in their head and overthink things.

With the arrival of the information age I think we have produced way more smart people than ever before. The internet has become such a powerful tool to educate yourself, anybody with an cellphone has a tremendous amount of knowledge in their pocket. Too bad many people choose to not use it to it's fullest potential. So that could be one of the reasons why depression and suicide rates are climbing. I'm not sure I have not done research on this matter.

There were several polls where people tried to find a correlation between the income and happiness.
The population of US as a whole indicated that increases up to 75K/year would make them happier, but further increase would not (average US family income is about 50-53K).

Then, the second poll only dealt with millionaires ($8 mil average).
Millionaires indicated that they need 500% to 1000% increase in their wealth to feel happy.
High expectations!

That are very high expectations lol
I personally think wealth does not create more happiness, only to a certain point can it make you happy. By making life easier and have the opportunity to pursue your goals.

[Elwar]

Sometimes I seriously wonder if people have some unconscious desire to be poor and mediocre. I just cannot fathom how somebody could wish to be more than they are without trying to work towards that goal with even the tiniest increments.

This bothers me a lot about people. I can't get why they are not willing to change up their lifestyle and mindset to reach the goals they desire. My theory on why so far, is that they are easier satisfied and they are happy enough with things staying like the way they are. Therefore don't feel the need to work on oneself. Some people just don't need much in life and are perfectly fine being mediocre. It's something that I sometimes I admire in people, the simplicity of being satisfied with less.

I have run into this a lot, especially in foreign countries, when I need something and I am willing to pay for it. The difficulty of getting so many services makes me keep thinking in my head "do you hate money!?!". In Germany when I was looking for an apartment I felt like just driving down the street with a wad of euros in my hand shouting "I will pay you to rent a place, hell I'll over-pay!". I ended up just using AirBnB to find a place.

[explorer]

Sometimes I seriously wonder if people have some unconscious desire to be poor and mediocre. I just cannot fathom how somebody could wish to be more than they are without trying to work towards that goal with even the tiniest increments.

This bothers me a lot about people. I can't get why they are not willing to change up their lifestyle and mindset to reach the goals they desire. My theory on why so far, is that they are easier satisfied and they are happy enough with things staying like the way they are. Therefore don't feel the need to work on oneself. Some people just don't need much in life and are perfectly fine being mediocre. It's something that I sometimes I admire in people, the simplicity of being satisfied with less.

I have run into this a lot, especially in foreign countries, when I need something and I am willing to pay for it. The difficulty of getting so many services makes me keep thinking in my head "do you hate money!?!". In Germany when I was looking for an apartment I felt like just driving down the street with a wad of euros in my hand shouting "I will pay you to rent a place, hell I'll over-pay!". I ended up just using AirBnB to find a place.

Throwing money at a problem is often a way to solve it fast with no fuss.  Doesn't exercise your brain much, but it's fun sometimes.  I spent too many years using ingenuity by necessity to switch to cash throwing directly, but its  getting easier - though the bold thought is constantly there!

[mr angry]

That is a very good question, but we cannot just assume that it's because the whole population of the poor and mediocre are all depressed and suicidal deep inside. Even smart people seem to be more likely to be depressed and doubt one self. Because they tend to live more in their head and overthink things.

With the arrival of the information age I think we have produced way more smart people than ever before. The internet has become such a powerful tool to educate yourself, anybody with an cellphone has a tremendous amount of knowledge in their pocket. Too bad many people choose to not use it to it's fullest potential. So that could be one of the reasons why depression and suicide rates are climbing. I'm not sure I have not done research on this matter.

There were several polls where people tried to find a correlation between the income and happiness.
The population of US as a whole indicated that increases up to 75K/year would make them happier, but further increase would not (average US family income is about 50-53K).

Anyone earning ridiculous amounts of money will make people jealous. Coping with that jealousy would make most people miserable and depressed. Imagine parking your lambo then returning and finding someone jealous has scratched the paint work.

[Biodom]

...
Perhaps 2018 is bitcoin's 1994.

...By 1998 things had changed alot.  Win 95/98 IE/Netscape made it much more useful and simple to use the internet and sites began to proliferate.  I had dropped out to take a 35k job at a search engine optimization company (which seemed like alot at the time) that quickly went out of biz, but my connections from that job led to other connections that have kept me working for the 20 years since.

tldr; if it's 1994,  buckle up, things will be unrecognizable in 4 years.

What would be our Netscape moment? Or AOL temporary dominance?
Is Lightning a.k.a Netscape (without the IPO) and is Coinbase/Binance/Bitfinex, perhaps, the AOL equivalent?
Or, would it be something else out of left field?