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

[fortune143]

Looks like we're heading due south at the mo, who's selling right now?

Those fools are selling up good then cos that 1d candle is getting longer and redder and longer.

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[starmman]

Market fear is increasing  



https://alternative.me/crypto/fear-and-greed-index/

nice link - I wonder what is causing the selling today? Time to check the news

[Globb0]

Market fear is increasing  



https://alternative.me/crypto/fear-and-greed-index/

Increasing, as in lower than last week. Right.

[fluidjax]

Using Bitmex?
Take a read of these allegations....

https://medium.com/@mattcollburner/bitmex-insiders-caught-in-a-web-of-lies-6d9b90baa693

[Torque]

What's this credit cycle referred to in the image?

edit: i found it. supposed to be total industrial credit and loans as a percentage of US GDP.

...is this chart suggesting we're about to hit another recession, when, in the opinion of most of my friends we never recovered from the last one? oh joy.

mind you, "we" basically means "me" in this case, as in the friend or friends in question were in a better place financially before the 2008 housing bubble and have yet to return to solid footing. heck, i sure was.

Overall, it looks quite bullish (see blue line):



 

Zoom out. There is a crash coming that goes well below the bottom of that chart.

The funny thing is, the corrupt elite banking establishment and Wall Street had fully planned to sell their overpriced corporate shares into the hands of Average Joes as the economy fully recovered and was running strong again. About this point in time. Leaving the retail public holding heavy bags once again. Just like they did in 1999, and again in 2007. Then they would raise interest rates, crash the market, lower rates, money print and buy up all the cheap shares at the bottom once again. That's the only way it works for them, a repeating zero sum game.

Problem is though, their gambit didn't work this time. The economy never recovered like they hoped. Average Joe is not buying those expensive stocks. He is now swimming in personal debt and barely able to service it, and now has his "eyes fully open" in terms of what Wall Street does, their lies and the games they play. Not only does Average Joe not want to buy those expensive shares this time around, he's hip to their game, and he's broke and has no money. Any extra money he might have would probably go to Bitcoin and PMs, not stock shares. Hell, I know guys that are now talking about completely liquidating their 401ks and never contributing to them again.

So now Wall Street is REALLY fucked. They've lost the mind share of the public that they needed to continue their fraud game. That's why they are trotting out people like Buffett, Gates, and Munger to "reassure" everyone that the stock market is still the best way to go, and is still safe.

"Fool me once, shame on you. Fool me twice, shame on me. Fool me three times, I'm a complete fucking idiot that deserves my fate."  

[STT]

Its not bullish till it holds that blue line, a break would also illustrate a harder selloff then normal.    The trend just shows a point of significance not that it must bounce at that point.  Anyhow before that time we have the credit contraction and tumble in pricing.     That seems quite likely to happen with Federal reserve no longer operating QE, some small raising of rates and if they actually stop renewing the debt they buy and just return it to market then that raises market rates quite I think.

FED was the largest buyer by far in this last decade, larger then China or Japan which holds 1 tn of US treasurys.   If they arent buying and even selling, its a tide change that possibly alters the price of everything that dollar touches.
Japan I dont see as a solid pair of hands btw, how long can they justify holding a depreciating asset while also being greatly or even greater debt themselves I dont understand how that is justified except via politics.

You should considering buying more Bitcoin before doom happens.

Does Bitcoin gain during a credit contraction.   In 2008 it was said Dollar would suffer but its value spiked quite heavily and that'd likely be inverse to Bitcoin then I think.    To see a rise in BTC I think we'd need to see USD index, DXY falling or continuing to fall.    Theres alot of uncertainty if that will happen but lower dollar also means higher oil price, USA does have alot more production now which is good but its also the largest consumer so higher pricing places a further burden on the economy.


I see the Bitcoin price wavering sideways after breaking out of a downtrend.   In terms of trending I think it needs to break out of a range to move especially short term.

[Torque]

You should considering buying more Bitcoin before doom happens.

Does Bitcoin gain during a credit contraction.   In 2008 it was said Dollar would suffer but its value spiked quite heavily and that'd likely be inverse to Bitcoin then I think.    To see a rise in BTC I think we'd need to see USD index, DXY falling or continuing to fall.    Theres alot of uncertainty if that will happen but lower dollar also means higher oil price, USA does have alot more production now which is good but its also the largest consumer so higher pricing places a further burden on the economy.

Bitcoin might fall some initially along with stocks. But if they fire up massive QE again and go back to ZIRP, Bitcoin will then probably go on the craziest bull run we've seen yet.

[4rt3m]

18 may is Pizza Bitcoin Day, in 2010 laszlo posted an offer to purchase 2 pizzas for 10,000 BTC.

https://bitcointalk.org/index.php?topic=137.0

In memory of this story, Ledger released Pizza Bitcoin Day version of their wallet Ledger Nano S. Limited to 1337. Price is 119 Euro.




Packaging on point.

[4rt3m]

Market fear is increasing  



https://alternative.me/crypto/fear-and-greed-index/

Increasing, as in lower than last week. Right.

You didn't understand how this scale works, right?

[jbreher]

The funny thing is, the corrupt elite banking establishment and Wall Street had fully planned to sell their overpriced corporate shares into the hands Average Joes as the economy fully recovered and was running strong again. About this point in time. Leaving the retail public holding heavy bags once again. Just like they did in 1999, and again in 2007. Then they would raise interest rates, crash the market, lower rates, money print and buy up all the cheap shares at the bottom once again. That's the only way it works for them, a repeating zero sum game.

Problem is though, their gambit didn't work this time. The economy never recovered like they hoped. Average Joe is not buying those expensive stocks. He ... now has his "eyes fully open" in terms of what Wall Street does, their lies and the games they play. Not only does Average Joe not want to buy those expensive shares this time around, he's hip to their game,

If your second quoted paragraph be true, Torque, that would be cause for hope for the future. But what evidence supports this assertion?

[Torque]

The funny thing is, the corrupt elite banking establishment and Wall Street had fully planned to sell their overpriced corporate shares into the hands Average Joes as the economy fully recovered and was running strong again. About this point in time. Leaving the retail public holding heavy bags once again. Just like they did in 1999, and again in 2007. Then they would raise interest rates, crash the market, lower rates, money print and buy up all the cheap shares at the bottom once again. That's the only way it works for them, a repeating zero sum game.

Problem is though, their gambit didn't work this time. The economy never recovered like they hoped. Average Joe is not buying those expensive stocks. He ... now has his "eyes fully open" in terms of what Wall Street does, their lies and the games they play. Not only does Average Joe not want to buy those expensive shares this time around, he's hip to their game,

If your second quoted paragraph be true, Torque, that would be cause for hope for the future. But what evidence supports this assertion?

If Average Joe was buying up stocks at retail left and right at this time, then U.S. corporations would have zero need for a huge tax cut/repatriation to massively buy back their own stock shares. But they desperately needed it to kick the can down the road. It's the only thing keeping the stock market propped up right now and it's all fake.
http://www.businessinsider.com/tax-cuts-unintended-effect-on-company-spending-shows-economic-risk-2018-5

They'll keep buying back their own stock shares until one of two things happen:
1. Economy recovers and Average Joe retailer comes roaring back into the stock market (ain't gonna happen)
2. Rising inflation forces the Fed to raise interest rates (definitely going to happen, it's happening now)

They keep trying to bait Average Joe back into the markets, but it ain't working:
http://www.businessinsider.com/stock-market-recommendation-goldman-sachs-says-biggest-worry-overblown-2018-5

[4rt3m]

I seriously may be buying one of these today, I need a ledger to add to my Hardware wallet collection regardless.

If I wouldn’t have one, I’d definitely wait for 28th May and buy limited edition one. Especially for collection.

[sirazimuth]

"Fool me once, shame on you. Fool me twice, shame on me. Fool me three times, I'm a complete fucking idiot that deserves my fate."  

Or as Dubya would famously put it....
https://www.youtube.com/watch?v=KjmjqlOPd6A    

[sirazimuth]

18 may is Pizza Bitcoin Day, in 2010 laszlo posted an offer to purchase 2 pizzas for 10,000 BTC.

https://bitcointalk.org/index.php?topic=137.0

In memory of this story, Ledger released Pizza Bitcoin Day version of their wallet Ledger Nano S. Limited to 1337. Price is 119 Euro.




Packaging on point.

I seriously may be buying one of these today, I need a ledger to add to my Hardware wallet collection regardless.

But does it support Bitcoin Pizza?

[Globb0]

Perhaps they should have charged 10,000$ for it though

[4rt3m]

But does it support Bitcoin Pizza?

Watch your joke before someone does a Domino's coin ico.

Don’t give them ideas!

[Traxo]

People who join Mensa are in the 95-105 range.
Just like how if someone opened something called "the big dick club", 3/4ths the people in it would have 4 inch dicks.

@anonymint tells me in private chat that maybe you're referring to their divergent IQ score?
In that case, all could be admitted to Mensa with the requisite minimum convergent IQ of 130 yet still potentially have a divergent IQ below 106,
although this seems highly improbable especially if referring to a group of individuals.


@anonymint asks @r0ach to explain why surreptitious centralization is the antithesis of the next reserve currency?

@Torque, regarding bcash and altcoins in general, @anonymint asks you whether Exter's pyramid should be inverted or do derivatives wag the dog?

[Torque]

A gripping yarn excerpt from the new book, "BAD BLOOD: Secrets and Lies in a Silicon Valley Startup" by John Carreyrou.

https://www.wired.com/story/a-new-look-inside-theranos-dysfunctional-corporate-culture/

That bitch Elizabeth Holmes and her henchman sidekick Balwani need to serve some jail time for their scam.

[OWZ1337]

A gripping yarn excerpt from the new book, "BAD BLOOD: Secrets and Lies in a Silicon Valley Startup" by John Carreyrou.

https://www.wired.com/story/a-new-look-inside-theranos-dysfunctional-corporate-culture/

That bitch Elizabeth Holmes and her henchman sidekick Balwani need to serve some jail time for their scam.

theranos or theymos? lol

[TERA2]

Can we talk about doom and gloom yet?

You should considering buying more Bitcoin before doom happens.

With none of these cycles occuring since the invention of Bitcoin we dont really have an indication of what this chart would do to Bitcoin prices. Some may actually theorize that a crash would occur in speculative investments like Bitcoin. There was a banker irl warning me in 2014 that I had 3 months to dump Bitcoin because he had some secret inside info from conferences with world leaders that a credit alteration was coming that was going to cause the apocalypse and riots and crash all the markets especially Bitcoin. That credit thing never happened but I wonder what would have happened if it did?