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Question: What year will we achieve a new ATH?
2019 - 32 (28.8%)
2020 - 42 (37.8%)
2021 - 28 (25.2%)
2022 - 5 (4.5%)
2023 - 1 (0.9%)
Never - 3 (2.7%)
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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21172680 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (23 posts by 12 users deleted.)
Torque
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June 14, 2018, 12:54:00 PM
Merited by mindrust (1)

To anyone thinking BTC price will drop once the USDT shenanigans are exposed:

Imagine there's a small planet of fishermen who use shells as currency. There's a limited supply of shells.

One day an astronaut arrives  from an advanced planet; he carries a secret device which allows him to create several fake shells.
For some weeks the astronaut buys a lot of local diamonds (unique and also limited in supply). He pays with his synthetised shells but the fishermen don't know they're fake and thus his market demand drives the diamonds prices up.

One day the astronaut returns to his planet with the diamonds and then the fishermen find out all the shells he gave them were fake and have now turned to ash.

Will the price of diamonds go down?

Nope.

The fishermen will still use shells to buy diamonds, and astronaut gone or not, there's still the same amount of shells around and the same amount of diamonds.

Kinda like the way the wealthy elite have gamed the system to print fiat out of thin air, then turn around and use it to buy real assets (businesses, stock shares, real estate, PMs, etc.) with that printed fake money. The assets themselves never really go down in value, but the fiat purchasing power sure does.

One day it'll all hyperinflate and go poof. And then they'll reset and start the game all over again.
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June 14, 2018, 01:10:49 PM


$4500 incoming now that the 3-descending triangle base is broken.

Probably bottom out around $3500 with a possible capitulative wick on the weekly down to $1700.
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June 14, 2018, 01:15:05 PM


$4500 incoming now that the 3-descending triangle base is broken.

Probably bottom out around $3500 with a possible capitulative wick down to $1700.

How do you see the 3 descending triangle base broken? : the three lows are around the same levels for me (the second is a little bit higher than the first and third).
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June 14, 2018, 01:16:39 PM
Merited by micgoossens (2)

Hey it'll probably spike down to sub $600!! /s

When bearish calls get really stupid, the bottom is close.  Roll Eyes
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June 14, 2018, 01:21:12 PM

$4.5k might not happen, but mid $5k could. SOMA prediction. Almost completely wrong, almost all the time!
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June 14, 2018, 01:23:39 PM


$4500 incoming now that the 3-descending triangle base is broken.

Probably bottom out around $3500 with a possible capitulative wick down to $1700.

How do you see the 3 descending triangle base broken? : the three lows are around the same levels for me (the second is a little bit higher than the first and third).

Ok, I'll give you that.

Stay of execution then.

We wait.

We watch Wink
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June 14, 2018, 01:26:40 PM

Hey it'll probably spike down to sub $600!! /s

When bearish calls get really stupid, the bottom is close.  Roll Eyes

As scary as this sounds, I wouldn't be surprised if that happened. I am at the stage where all I do is pray and hope while fearing the worst. Anything under $5k, and its full panic station.
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June 14, 2018, 01:40:28 PM

To anyone thinking BTC price will drop once the USDT shenanigans are exposed:

Imagine there's a small planet of fishermen who use shells as currency. There's a limited supply of shells.

One day an astronaut arrives  from an advanced planet; he carries a secret device which allows him to create several fake shells.
For some weeks the astronaut buys a lot of local diamonds (unique and also limited in supply). He pays with his synthetised shells but the fishermen don't know they're fake and thus his market demand drives the diamonds prices up.

One day the astronaut returns to his planet with the diamonds and then the fishermen find out all the shells he gave them were fake and have now turned to ash.

Will the price of diamonds go down?

Nope.

The fishermen will still use shells to buy diamonds, and astronaut gone or not, there's still the same amount of shells around and the same amount of diamonds.

Kinda like the way the wealthy elite have gamed the system to print fiat out of thin air, then turn around and use it to buy real assets (businesses, stock shares, real estate, PMs, etc.) with that printed fake money. The assets themselves never really go down in value, but the fiat purchasing power sure does.

One day it'll all hyperinflate and go poof. And then they'll reset and start the game all over again.

Not exactly the same; Federal Reserve (and other central banks) do not create money out of thin air as they need to be solvent for what they emit (which with fractional reserve must be indeed only a fraction of their output); they do however profit from the interest generated by this multiplied supply they emit. This interest is "out of thin air" generated revenue - yes.
But whoever issues USDT goes even further than this, as they do actually create money out of thin air.
Even calling it Monopoly money is a compliment since USDT doesn't even cost paper.
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June 14, 2018, 01:41:45 PM

Hey it'll probably spike down to sub $600!! /s

When bearish calls get really stupid, the bottom is close.  Roll Eyes

As scary as this sounds, I wouldn't be surprised if that happened. I am at the stage where all I do is pray and hope while fearing the worst. Anything under $5k, and its full panic station.

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June 14, 2018, 01:46:31 PM


$4500 incoming now that the 3-descending triangle base is broken.

Probably bottom out around $3500 with a possible capitulative wick down to $1700.

How do you see the 3 descending triangle base broken? : the three lows are around the same levels for me (the second is a little bit higher than the first and third).

Ok, I'll give you that.

Stay of execution then.

We wait.

We watch Wink

Soon it might look like a falling wedge.
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June 14, 2018, 01:50:36 PM

Hey it'll probably spike down to sub $600!! /s

When bearish calls get really stupid, the bottom is close.  Roll Eyes

As scary as this sounds, I wouldn't be surprised if that happened. I am at the stage where all I do is pray and hope while fearing the worst. Anything under $5k, and its full panic station.

It's not scary, it just makes little sense for the circulating supply of bitcoin* to go below 12.6 billion $.
Block.one (that eos crap) alone raised $4b.. with all the approval bitcoin has had in the world (wikileaks.. IMF.. entire countries) it is silly to think nobody would buy the heck out of that dip.  But it will never happen.
Realistically anything below 3000$ is science fiction.

* 21 million is the total number of bitcoin which will exist at most but do keep in mind that several of those have been forever lost (deceases, lost private keys, etc) thus the real circulating supply is lower than that.


Tl; dr: notsureiftrollingorjustverystupid.jpg
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June 14, 2018, 02:06:30 PM
Last edit: June 14, 2018, 03:01:04 PM by savetherainforest




Cheers for Bart and the more money he is giving us!!! Cheesy Cheesy Cheesy

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June 14, 2018, 02:13:42 PM

To anyone thinking BTC price will drop once the USDT shenanigans are exposed:

Imagine there's a small planet of fishermen who use shells as currency. There's a limited supply of shells.

One day an astronaut arrives  from an advanced planet; he carries a secret device which allows him to create several fake shells.
For some weeks the astronaut buys a lot of local diamonds (unique and also limited in supply). He pays with his synthetised shells but the fishermen don't know they're fake and thus his market demand drives the diamonds prices up.

One day the astronaut returns to his planet with the diamonds and then the fishermen find out all the shells he gave them were fake and have now turned to ash.

Will the price of diamonds go down?

Nope.

The fishermen will still use shells to buy diamonds, and astronaut gone or not, there's still the same amount of shells around and the same amount of diamonds.

Kinda like the way the wealthy elite have gamed the system to print fiat out of thin air, then turn around and use it to buy real assets (businesses, stock shares, real estate, PMs, etc.) with that printed fake money. The assets themselves never really go down in value, but the fiat purchasing power sure does.

One day it'll all hyperinflate and go poof. And then they'll reset and start the game all over again.

Not exactly the same; Federal Reserve (and other central banks) do not create money out of thin air as they need to be solvent for what they emit (which with fractional reserve must be indeed only a fraction of their output); they do however profit from the interest generated by this multiplied supply they emit. This interest is "out of thin air" generated revenue - yes.
But whoever issues USDT goes even further than this, as they do actually create money out of thin air.
Even calling it Monopoly money is a compliment since USDT doesn't even cost paper.

How is producing 10 times the amount of money you have...not printing money out of thin air?

If not out of thin air, where does the new money come from?
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June 14, 2018, 02:17:39 PM
Merited by Tyr808 (1)

How is producing 10 times the amount of money you have...not printing money out of thin air?

If not out of thin air, where does the new money come from?

It is underwritten by 3rd party debt - either sovereign, corporate or person debt.

A bank cannot simply create money "out of thin air".. They need to get an economically productive entity to underwrite it / "back" it with a promise of future productivity.
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June 14, 2018, 02:39:24 PM

How is producing 10 times the amount of money you have...not printing money out of thin air?

If not out of thin air, where does the new money come from?

It is underwritten by 3rd party debt - either sovereign, corporate or person debt.

A bank cannot simply create money "out of thin air".. They need to get an economically productive entity to underwrite it / "back" it with a promise of future productivity.


This.

However the profit they get from the +interest+ received by lending that newly issued liquidity, is essentially free money.

Privilege in the hands of few which costed humanity wars, rapes, misery, poverty.
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June 14, 2018, 02:42:07 PM


One of the best price analysis i've ever saw in my entire life lol. I'm sure Bitcoin will come back really soon but there are no big evidence that it will climb to sky rocket again but still in the next halving im quite sure that it will go up again.
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June 14, 2018, 02:52:19 PM

Well, at least somebody is trying to hold "The bottom" up... . (Mic post some good pic)  Cheesy Wink
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June 14, 2018, 03:06:31 PM
Merited by Torque (10)

Hey it'll probably spike down to sub $600!! /s

When bearish calls get really stupid, the bottom is close.  Roll Eyes

i only had 2 smerits left but this is just exactly EXACTLY how it is

same as a friend of me on the last DIP he was calling BTC dead from that point he becamed our private REVEARSE INDICATOR so when most get extreme bearish it could means something good  Grin
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June 14, 2018, 03:21:51 PM
Merited by d_eddie (2), Mahirap (1)

Well, at least somebody is trying to hold "The bottom" up... . (Mic post some good pic)  Cheesy Wink

Confirmed. Bottom is being held up.




Sometimes I feel like my biggest contribution to this thread is butt pictures, but I guess that's good enough.
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June 14, 2018, 03:22:47 PM

How is producing 10 times the amount of money you have...not printing money out of thin air?

If not out of thin air, where does the new money come from?

It is underwritten by 3rd party debt - either sovereign, corporate or person debt.

A bank cannot simply create money "out of thin air".. They need to get an economically productive entity to underwrite it / "back" it with a promise of future productivity.


Newly printed money created from debt than can never be paid back is the very definition of "out of thin air".

It's a snake eating its own tail.
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