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

[Icygreen]

Oh boy they do

For sure they can. But why now?

The two year pump is over, the hype is over, and they know the mETH heads will double down even in bear market.

I watched it happen to LTC when it went from $48/ltc all the way down to $1.20/ltc. The diehards were calling bottoms and still buying all the way down. Then they completely vanished when it bottomed out. Even the original litcoin forum got hacked and went offline.

The truth is, none of the shitcoins have demonstrated any real world use cases. So they have zero value to justify their trading prices. None. It's all pure hype and speculation that is unwarranted. That is why many of them will fall to near nothing.

When I had first come to crypto in early 2017 I participated in the ETH buzz along with other coin pumps. It was views such as yours, JJG's, and many others here that encouraged me to see them for what they were and eventually led me entirely away from the shitcoin buzz never to look back.  Feeling rather lucky for that education today. Thanks a lot! 

[infofront]

[gembitz]

bitmain tokens is the real bitcoin lol

[Torque]

When I had first come to crypto in early 2017 I participated in the ETH buzz along with other coin pumps. It was views such as yours, JJG's, and many others here that encouraged me to see them for what they were and eventually led me entirely away from the shitcoin buzz never to look back.  Feeling rather lucky for that education today. Thanks a lot! 

Glad I could help. I too at one point thought that having another coin/blockchain with a differing algo than Bitcoin's could be beneficial.

But then I started to realize that at it's core, all people fundamentally care about is a cryptocurrency's ability to be :

1. Secure and scalable
2. Open source, decentralized mining and voluntary core devs
2. Be scarce and deflationary
3. Store of Value
4. Permissionless transfer of value
5. Exchange for fiat (if necessary), high liquidity
6. Popular with merchants and exchanges
7. Buy goods and services with it

That's it. You can distill 99.99% of peoples wishes for a crypto into that simple, straightforward list. Any other usefulness beyond that list is inconsequential and wouldn't be missed in the world, at all. Anyone that says otherwise is being disingenuous and head-in-the-clouds.

So seen through that lense, is there any real NEED for any crypto other than Bitcoin?

The answer is a resounding "NO".

[andreibi]

Who shorted the market?
Why did the government allow this to happen? - LOL

[RejectedBanana]

Nice read on the current state of the SEC commissioners:

The Elad Effect: How the SEC’s New Commissioner Changes Things for Bitcoin ETFs
https://medium.com/@JohnGaltBPM/the-elad-effect-how-the-secs-new-commissioner-changes-things-for-bitcoin-etfs-f4bb29e95bd6

[becoin]

I see no reason for the price to stay above $6k other than the fact that those with very deep pockets want it to stay that way.

The beauty of bitcoin is that bitcoin price doesn't depend on people with very deep $$$ pockets. It depends on people with very deep bitcoin pockets!

[Raja_MBZ]

Maybe I'm not right, but I don't think that this is the real reason of this dump.

I think the real reason is unsuccessful ICOs which feel lack of money and sells everything they raised to ensure a continuation of their work

The real reason is that whale traders loaded up on ETH when no one wanted it or cared. First by the tens of thousands at $0.50/ETC each. Then loaded up again at $18/ETC for several months (during the whole DAO bug fiasco).

You don't think they have plenty of ammo to dump/short ETH into the ground even at the current price? Or just trade for more BTC at this point? Oh boy they do. They can keep this going for quite a while until ETH is back at $18 or lower.

The very definition of a massive, coordinated PnD scam.

 

LOL at his Twitter username... "ALTLOVER"...

Plus, "Ethereum is not a security!"

Moreover, I don't think Vitalik even owns any Ethereum (or any crypto) now.

Furthermore, Bitmex just can't control Ethereum.

[Paashaas]

Coldcard is a new product and only supports bitcoin: no altcoins. Trezor has been around for four years now, Ledger Nano S for two. Best to stick with well tested products with a good history IMO.

my view also.

i use the trezor one for btc, and much later grabbed a nano s for alt coins (the few i have). i have a trezor model t also but am waiting before i put any significant amount in it just because i want to see it proven as good as the original trezor 1st.

I own both of them. Using the T for spendings, no complains so far. Not in a rush to move my bag to the T version. Trezor one is good enough to use it as cold storage.

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Ye, but it was already mentioned at the start of this thread 

Oh, i see it now, thx man. I'll delete it.

[Raja_MBZ]

But who is Arthur Hayes? Not so many persons know who is it exactly.

[El duderino_]

via Imgflip Meme Generator

[El duderino_]

Mmmm pump  quickly to the movies the ONE place Where i never look @ BTC and prices or WO 
And Thats rare thing for me 

[Yaplatu]

Mmmm pump  quickly to the movies the ONE place Where i never look @ BTC and prices or WO 
And Thats rare thing for me 

You also check every second. I'm not the only one ... 

[El duderino_]

^
Right now or right last 50 pages ?

[vroom]

^

This thread is beginning to really annoy me lately  

(A dozen or so pages back)

It is bad because anyone with half a brain now knows that Bitmain holds one million Bcash lol that it cannot sell.  This is a massive stock overhang.
https://moneyweek.com/glossary/stock-overhang/
In other news:

[Hueristic]

Slides and ramps. Barts with lower lows. Grind your teeth, gentlemen, and hold tight.

Note: I have trouble spelling "hold", in all contexts. I'm afraid I'll give away a big clue to some keen observer one fine day.

It will be a trick question on an IRS form one day.

https://twitter.com/btcking555/status/1039580168405364737

Beauty!

And I say the above watching my litecoin holdings (from repairs) going into the cum dumpster..... Fortunately I moved some into bitcoin, the rest shall burn......

Chinese been P&D'ing that shit forever why would you get into that shitshow? That was the most obvious pumped bubble eva.

Bob

If you want a new hobby come short ETH on light leverage with tight stops.  It’s very satisfying and healthier than drinking all day. 

Hah, I was doing that last year! It was a little nerve racking then.

[vroom]

@vroom, good catch pointing out the image I published already circulated in this topic. I just deleted the message

don't worry, I also reposted this image and many others.

[El duderino_]

Mmmm pump  quickly to the movies the ONE place Where i never look @ BTC and prices or WO 
And Thats rare thing for me 

You also check every second. I'm not the only one ... 

Yeah i always look ..... but its not gonna change my mind or actions..... i Will hodl

[El duderino_]

@vroom, good catch pointing out the image I published already circulated in this topic. I just deleted the message

don't worry, I also reposted this image and many others.

Haha Yeah don’t mind to much ..... i take WO as social media sometimes....  

[Icygreen]

When I had first come to crypto in early 2017 I participated in the ETH buzz along with other coin pumps. It was views such as yours, JJG's, and many others here that encouraged me to see them for what they were and eventually led me entirely away from the shitcoin buzz never to look back.  Feeling rather lucky for that education today. Thanks a lot! 

Glad I could help. I too at one point thought that having another coin/blockchain with a differing algo than Bitcoin's could be beneficial.

But then I started to realize that at it's core, all people fundamentally care about is a cryptocurrency's ability to be :

1. Secure and scalable
2. Open source, decentralized mining and voluntary core devs
2. Be scarce and deflationary
3. Store of Value
4. Permissionless transfer of value
5. Exchange for fiat (if necessary), high liquidity
6. Popular with merchants and exchanges
7. Buy goods and services with it

That's it. You can distill 99.99% of peoples wishes for a crypto into that simple, straightforward list. Any other usefulness beyond that list is inconsequential and wouldn't be missed in the world, at all. Anyone that says otherwise is being disingenuous and head-in-the-clouds.

So seen through that lense, is there any real NEED for any crypto other than Bitcoin?

The answer is a resounding "NO".

Those are great core values and I'd like to add a couple I find reassuring.
8. Politically neutral money
9. Monetary system based upon savings rather than debt