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

[El duderino_]

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

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

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 

[infofront]

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

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.

[Torque]

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.

[starmman]

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

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.

I had to study that technical analysis for a bit longer than usual

[Raja_MBZ]

Point to ponder:

[suzanne5223]

Can someone make this stop :-/

I can't stop now buddy cause the market is already flooded and one thing is sure and the thing is , it will never go below $6000 but there's 70% possibility that there will be change next week though.

[markj113]

Point to ponder:

Looks like someone is worried he's about to have a dick sandwich.

[ivomm]

While I was trolling on EOS bitcointalk thread about John Oliver show,

Can anyone explain what is EOS all about?  Clearly, even John Oliver can't:    Usable applications?!?!?!? 
https://youtu.be/g6iDZspbRMg?t=1146

I noticed some familiar names which are heavily invested in EOS, e.g. FractalUniverse:

over 100mio staked now 2/3 of required amount. http://dev.cryptolions.io/mainnet/#
and it looks like theres over 71mio on bitfinex balances.
So it now mostly depends on bitfinex' internal voting process. if bitfinex stakes, it could get over 150mio required in an instant pity i didnt find any info about the current results of finex internal poll.

and this is a recent post here on WO

The lower it gets, the more bitcoins will be removed from market by long term holders' buying spree.
I would use such opportunity for sure. if it should get below 4-3-2 or even 1k as some pple here predict, Id probably raid my entire bank account ant put it all into bitcoin.

The conlusions I leave to you. Just don't trust the fake bears anymore!

[infofront]

Interdasting.

[jojo69]

$6144 two part betting game.

A) When will $6144 be broken on the way down.

B) When will $6144 be broken back on the way up.

June 8

for both

You were pretty close, jojo. Happened on June 13, for both.

OK, enough of that... Let's go back to $7000, shall we...

It is pretty disturbing for me that anyone is paying attention to my deranged ravings ...that was over a month ago...are you my personal FBI man?

[Anon136]

$6144 two part betting game.

A) When will $6144 be broken on the way down.

B) When will $6144 be broken back on the way up.

June 8

for both

You were pretty close, jojo. Happened on June 13, for both.

OK, enough of that... Let's go back to $7000, shall we...

It is pretty disturbing for me that anyone is paying attention to my deranged ravings

All you have to do is say what people want to hear. They will listen to anyone if they do that.

[jojo69]

I sold bits and pieces. Not enough that I'm not a mountain of regret. TBH

Don't forget at that convenient time everyone could have been rich. Their funds were also all tied up in KYC.

also...peaked pretty much precisely when we would have to pay the absolute most taxes on it...fishy man

[rolling]

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 makes no logical sense (although it is taught like this in universities). Money is supposed to represent production. It can only originate from production. Creating money to "represent" debt or future production is literally creating money "out of nothing". This is the problem with the current system, it is backwards and only exists because it allows governments and corporations unlimited power to steal from producers.

Real money can only be created out of production and only after this has happened, can it be borrowed to create debt, not the other way around. The current monetary system is not real money, it is a house of cards built on decades of mind-fucking the public. There will be an awakening.

[Toxic2040]

Good morning all.

Some legacy market news for your viewing pleasure before we move on to bitcoin. The softening Chinese economy might indicate another upswing of interest in crypto from that sector as capital seeks shelter.

Global stocks weaken as hawkish Fed, slowing China data trim risk appetite.

U.S. dollar softens, however, as investors focus on growth optimism, not inflation concern, in Jerome Powell comments.

China's central bank fails to follow Fed hike as domestic investment falls to 22-year low.

Euro rises to multi-week high as investor await potential policy signal from ECB President Draghi.

Wall Street futures drift lower amid broader sentiment pullback, but tech stocks may outperform.

Oil prices edge lower as weak China data offsets falling U.S. stockpiles.

I found this article informative as well. Captain Kirk is onboard. Mewn confirmed.  
https://cointelegraph.com/news/new-solar-powered-crypto-mining-outfit-blasts-off-backed-by-star-trek-s-shatner

----------
Bitcoin

1h
Market consolidation has continued overnight with bitcoin retracting to just below $6.4k and is looking for support in that area. Most alts are back in the green now after a serious sell-off yesterday indicating we might have bottomed out locally.


4h
Is that a small bat signal way up high? Small break in the clouds approaching, looks like a test of resistance in that area.


D
Support hodling. MACD slowly turning upwards. RSI still oversold.

#dyor

[RejectedBanana]

$6000 seems to be established as a fair bargain basement price by both bulls and bears and even miners apparently. We have achieved equilibrium price discovery, not just once, but like 5 times since October of last year, give or take $500.

Anything below the bears generally agree is too greedy and the bulls consider a steal.

But there is some serious Grade A manipulation going on. FUD is being slung around like monkey poop fresh outta Bill Gates and Warren Buffett's decrepit simian asses. Sometimes it sticks, sending Korean tourists, YouTuber potato heads, and Tweaking Twitterites screaming for the exits.

The most damage this FUD has done since (dare I say it?) the "capitulation" on Feb 5 is 5-10% intraday trading. Around $500-600 intraday swings at most.

Prior to Feb 5, we were seeing intraday swings as high as 30%. We're talking like $4500 in one day! Many days were well over 10%, equating to at least $1000 at the time. It's a freaking snooze fest in comparison.

So far, the FUDsters have tried squirting manipulation FUD, sharting Tether FUD, and are currently honking for clearance while constipated with a big ol' meal of regulation FUD. Mt Gox has been hotboxing us with silent but deadly FUD for months now, but most of our olfactory bulbs have long since burned out. Hacked exchange FUD is the most regular of all, sustained by a healthy diet of shyster/ignoranus FUDfiber(tm).

As much as everyone is watching, waiting, hoping for a clear sign from Satoshi himself "THIS IS THE BOTTOM", the truth is the FUDsters have run out of effective FUD. Even Roger Ver himself, the king of bullshit, a giant walking colon, can only shit so much, right?

What more can the bears possibly fling at us? Am I missing some super potent 10x epic hangover evacuate the building and whatever you do don't light that match FUD? Something that would truly shake hodlers to their very core that we haven't already seen a dozen times?

It's a fucking zoo out there this summer, peeps. Watch out for the monkey poop.

[JayJuanGee]

I don't care
I hold

Fuck ‘m, I’ll buy more below $5,000.

Lightning network is being rolled out right now and it is finally delivering on bitcoins long unfulfilled promise. As far as the technology is concerned these are the best of times since the early days when bitcoin its self was a shiny new thing. I doubt you will regret that move in the long run.

When the price gets you down, focus on the tech.

Are we really expecting a $5000 bottom? I don't know if it will hit that, he may not get that option.

Good to maintain targets and plans for even extreme scenarios that might not happen.  Surely, preparing for below $5k is less extreme than preparing for below $3k but it remains a good practice psychologically and financially to prepare for both.

[El duderino_]

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

BOTTOMS will come frome higher and higher hights and every time we will need to stand our ground harder and harder
the price dips will be exxxtremer and exxxtremer      

[JayJuanGee]

I just ran into this. This is so stupid.



No shit it can't look like the one on the right. The one on the right is the problem. That's what bitcoin looks like right now and it's the reason why it doesn't scale.

Bcash is an attempt to make bitcoin it's self look like the one in the middle and in so doing give up all of the advantages that come from it looking like the one on the right. Which could be acceptable as a last resort if there were no other option.

Lightning network is a way to build a parallel network that looks like the one in the middle but doesn't replace the one on right in any way. Instead it lives separate and apart from it while being kept totally in check and made benign by the continued existence of the one on the right.

I'm so tired of all of this ignorant anti lighting network rhetoric that I keep hearing and seeing constantly. Do you guys think Ver is funding this BS. It feels like there is just too much of it for it to be organic.


P.S. Do you guys feel this is on topic enough for the wall observer thread. It's not about jews at least... but it's exactly about the price either... I just wanted a place to rant where it would actually be read and it is about bitcoin atleast...

On topic and good points.

It is likely that propaganda funding is causing a considerable deal of the lightning misinformation, but in the end, it is also likely to work out in the wash because the better tech is going to prevail, and those of us investing into bitcoin have decent insight as to what is the better tech and we are able to buy and accumulate our coins for cheaper based on a lot of normies getting distracted either to sell their BTC or not to buy BTC based on such misinformation.

[Tyr808]

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 makes no logical sense (although it is taught like this in universities). Money is supposed to represent production. It can only originate from production. Creating money to "represent" debt or future production is literally creating money "out of nothing". This is the problem with the current system, it is backwards and only exists because it allows governments and corporations unlimited power to steal from producers.

Real money can only be created out of production and only after this has happened, can it be borrowed to create debt, not the other way around. The current monetary system is not real money, it is a house of cards built on decades of mind-fucking the public. There will be an awakening.

You and many others in this thread are basically saying
"Fractional Reserve is shit"

Let's not forget it's backed by Proof of War.

[Wekkel]

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 makes no logical sense (although it is taught like this in universities). Money is supposed to represent production. It can only originate from production. Creating money to "represent" debt or future production is literally creating money "out of nothing". This is the problem with the current system, it is backwards and only exists because it allows governments and corporations unlimited power to steal from producers.

Real money can only be created out of production and only after this has happened, can it be borrowed to create debt, not the other way around. The current monetary system is not real money, it is a house of cards built on decades of mind-fucking the public. There will be an awakening.

 The only justification could be that the process described liquefies assets into money that can be used to fund buildup of means of future production.  In theory it’s a zero sum game with the money lent out returning at some point as repayment and thus disappearing from existence.

In practice, however, the loans in general are not repaid but rolled over into eternity at increasingly higher sums. This supported by continuously lowering interest rates artificially suppressed by central forces.

A perpetual debt machine with no intention of ever paying back the full outstanding debt.

A monster is what we have created.