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

[gwaur]

<snip>
Far less relevant things are discussed here every hour of every day. Bitcoin requiring the power consumed by 5 million US households is nothing to sneeze at. Yet the market and capitalism dictates it to exist because it still remains profitable (though just barely). Hash rate has been falling recently so that's a start. It will obviously remain feasible until it isn't. Just saying PoW isn't winning over the hearts and minds of many environmentalists.

https://digiconomist.net/bitcoin-energy-consumption

Report: Bitcoin Mining Doesn’t Fuel Climate Change, It Benefits the Global Economy
https://news.bitcoin.com/report-bitcoin-mining-doesnt-fuel-climate-change-it-benefits-the-global-economy/

tldr: 78% of Miners Use Renewable Energy

[Torque]

It doesn't matter how 'interesting' they are, if they don't make money they are worthless, and people that buy ETH just to put money into worthless projects are supporting garbage. And in turn are supporting ETH, which has no reason to exist outside of supporting garbage.

Again, the market disagrees with you. You're entitled to your personal opinion but that doesn't change the reality of the situation.

So what's your point? It doesn't matter what I think. Markets give value to worthless companies all the fucking time. And people stupidly put money into them.

Look no further than Tesla for an example... a company that supposedly has a market cap of $63B and share price of $360, but bleeds money, is virtually bankrupt and will probably write down a loss of at least $1B next year. And then EVs coming from Audi, Porsche, and Mercedes will eat their lunch.

[realr0ach]

tldr: 78% of Miners Use Renewable Energy

Except the energy expenditure serves no purpose if transaction validators are designed to centralize...and they are.

[realr0ach]

So what's your point? It doesn't matter what I think. Markets give value to worthless companies all the fucking time. And people stupidly put money into them.

Look no further than Tesla for an example... a company that supposedly has a market cap of $63B and share price of $360, but bleeds money, is virtually bankrupt and will probably write down a loss of at least $1B next year. And then EVs coming from Audi, Porsche, and Mercedes will eat their lunch.

It's also possible due to thermodynamic collapse of oil extraction, that conventional vehicle companies are doomed and only electric ones have a future.  Then the govt would probably have motive in keeping Tesla alive at least as some type of testbed.

[Bitcoinaire]

I see lots of noobs lately saying theyre gonna short the market here because its easy money. Hopefully they get their faces ripped off.
 

[Biodom]

Trace thinks that this is being done in part to "kill" some naughty miner-producing entity. Guess, which one?
https://twitter.com/TraceMayer

Some #Bitcoin miners annoyed #HODLGANG so extermination & replacement with friendlier to @bitcoincoreorg.

Makes some sense to me.

[nanobtc]

More Roach posts. Bullish.

[JayJuanGee]

I see lots of noobs lately saying theyre gonna short the market here because its easy money. Hopefully they get their faces ripped off.
 

Hahahahaha

Remember in about December 2014, there were all kinds of teachings about shorting the BTC market, and how you could make a killing shorting BTC.  2015 through 2017 were not good years to short BTC, even though 2014 and 2018 were. 

Difficult to know what December 2018 and thereafter is going to bring in terms of BTC price performance, but I am having some doubts that in the short-term shorting BTC is going to be nearly as lucrative as it was in either 2014 or 2018...   but what do I know? 

I neither play margin nor attempt to call the short-term BTC price future.. much beyond 50/50..  but I do, sometimes, make observations.       

[Hexah]

I see lots of noobs lately saying theyre gonna short the market here because its easy money. Hopefully they get their faces ripped off.
 

As expected I expect that my expectations saying that they are noobs indeed.

short-term shorting BTC is going to be nearly as lucrative as it was in either 2014 or 2018

Can we speculate that 2022 might be the same?

[Paashaas]

[JayJuanGee]

Trace thinks that this is being done in part to "kill" some naughty miner-producing entity. Guess, which one?
https://twitter.com/TraceMayer

Some #Bitcoin miners annoyed #HODLGANG so extermination & replacement with friendlier to @bitcoincoreorg.

Makes some sense to me.

Can't really ever deny observations of Trace, yet there seem to be a multitude of dynamics including pushing in the shitcoin space in which the two bcash branches seem to be suffering the most, and Ethereum is experiencing decent purging of froth too.

I am kind of thinking that there could be some kind of attempt to reach shitcoin singularity with the bcashes and Ethereum around the same price - maybe in the $80 arena or below... Bring them all below $20 would be nice, but that's too much wishful thinking coming out of me... and maybe as nutilah said, a $50 Ethereum might still serve some shit functions, perhaps?...

A problem with Ripple is that the units are off - maybe $.08 would be an overvaluing of ripple, but there seems to sufficient enough dumb money keeping it in the $.30s, with this downfall, and just so much ongoing dumb money from there that would not likely be purged unless some of the ripple CEOs were thrown in jail, which does not seem too likely to happen, either...

[JayJuanGee]

short-term shorting BTC is going to be nearly as lucrative as it was in either 2014 or 2018

Can we speculate that 2022 might be the same?

Would not be unreasonable to have some tentative outline about what is possible without getting too attached to such picture, because it seems that patterns are meant to be broken in bitcoinlandia... nonetheless, I could see some kind of decent correction coming a couple of years after the next halvening..

TLDR: Cannot count on it, but can at least consider that there are decent chances of such an outline.

[JayJuanGee]

Do you have a source link for that one?

[QestBTC]

into mount HODLING for a sleep cause in BIG need for a good hodl-rest
this night cross 5K and all is fine by me

always a BULLiever in Micg.

where is your 5k for btc noob? Your dreams about the price are ridiculous

[HairyMaclairy]

Modest short squeeze in process

[ivomm]

into mount HODLING for a sleep cause in BIG need for a good hodl-rest
this night cross 5K and all is fine by me

always a BULLiever in Micg.

where is your 5k for btc noob? Your dreams about the price are ridiculous

I see one big fresh n00b here and that's you!

[goldkingcoiner]

into mount HODLING for a sleep cause in BIG need for a good hodl-rest
this night cross 5K and all is fine by me

always a BULLiever in Micg.

where is your 5k for btc noob? Your dreams about the price are ridiculous

[realr0ach]

It's anti-semitic to claim the price will not go to $100 trillion per coin for no reason.

[jojo69]

Its like ethnic cleansing without the racism

demented

+1

[HairyMaclairy]

I hear that Thursdays are for meeting a nice Jewish girl before the Sabbath