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

[realr0ach]

Bob with the teenage boy, neon green keyboard, and HairyMcJewshill with an actual gay flag keyboard.

[pönde]

Since the whole thread is people pretending the losses are entirely temporary paper losses while under the delusion the price will be a trillion dollars per coin someday, I think the downward grind and actual capitulation number might surprise even me.  At this point, from $2xxx to $1xxx will be the despair phase, and three digits will be the anger phase where random shitcoiners start sending death threats to people like Antonoplous for tricking them into malinvestments.

Do you think the decline is due to people panicing or due to TPTB, like this
https://breakermag.com/when-wall-street-financializes-bitcoin-who-benefits/
and the futures?

[gentlemand]

Do you think the decline is due to people panicing or due to TPTB, like this
https://breakermag.com/when-wall-street-financializes-bitcoin-who-benefits/
and the futures?

That article misses one rather large thingy which is, unlike gold, BTC can be verified and delivered to anyone anywhere in the world at any time within minutes. That's kinda the point and makes it more than a little harder to pull the wool over everyone's eyes.

[willope]

Do you remember the good old times?
Those times when folks gave Bitcoin to each other, just like that?
No FED money in between, no speculation stress.
Everyone was just... building the future. OUR future.

Or if you're of "my generation", 2013-14 noobs, remember when NOONE cared about BTC but you was still excited to read any mainstream news citing bitcoin? Remember that great, united community? Your first whole hard earned bitcoin
(and Mtgox/Madgox/Matchbox/MtJokes stealing it)

Bitcoin is much more than it's USD value. It's a lifestyle.
And the bear market is like a hard reboot for btc, cleans it up from all those scammers and toxic people and projects.

Now we have a few years to center in developing the ecosystem and building the community.

HODL strong. Keep centered. Don't panic. and give me a merit point :-P

[pönde]

Do you think the decline is due to people panicing or due to TPTB, like this
https://breakermag.com/when-wall-street-financializes-bitcoin-who-benefits/
and the futures?

That article misses one rather large thingy which is unlike gold BTC can be verified and delivered to anyone anywhere in the world at any time. That's kinda the point.

Yea. I know. That relieves me. But believe me. Most people can't make difference between the paper BTC and the real BTC. Until they go shopping, where only real BTC is valid. So that why we need LN and real world use.

[HairyMaclairy]

The Bitcoin is dead.  Long live the Bitcoin. 

[JimboToronto]

So, when is the $100 000 WO party and where? I pay the subway ticket for the bears.

I am also interested in the answer. Especially the "when" part.

November 20, 2021 in Vegas.  We still need to agree the venue for the party. All accommodation arrangements are to be made privately because opsec.  

I guess Bob mentioned some islands in the Caribbean...  it's a better idea as most of us are probably coming in our private jets anyway and we need some sun after long cold evenings with alcohol in front of our laptops during HODL.  

I'm not sure whose derriere that Nov. 20, 2021 date was pulled from but we're not having a $100k party until we actually reach $100k.

As for the location, Vegas is just about the last place I'd want to go to, even if Uncle Sam wanted to let me. Vegas is a shithole unless you're addicted to gambling. Sleazy low-class trash.

Anywhere in the Caribbean would suit me just fine or as someone suggested, summertime in Amsterdam would be a fine alternate choice. I guess the season depends on when we hit $100k.

[HairyMaclairy]

Jimbo you have a point about the US being problematic for some people.  Maybe we need a poll?

As for the date, well that is a matter of science so we need to accept it will be a northern hemisphere winter.

[gembitz]

UNO is the coin to be holding in a storm.

It is going to end up as one of the greats.

BTI modeled after UNO cough wink

https://dnbshare.com/download/Greenleaf_-_Belowclevel_-_06-12-2018_Live_From_New_Orleans_Usa.mp3.html

[JayJuanGee]

So, when is the $100 000 WO party and where? I pay the subway ticket for the bears.

I am also interested in the answer. Especially the "when" part.

November 20, 2021 in Vegas.  We still need to agree the venue for the party. All accommodation arrangements are to be made privately because opsec.  

I guess Bob mentioned some islands in the Caribbean...  it's a better idea as most of us are probably coming in our private jets anyway and we need some sun after long cold evenings with alcohol in front of our laptops during HODL.  

I'm not sure whose derriere that Nov. 20, 2021 date was pulled from but we're not having a $100k party until we actually reach $100k.

As for the location, Vegas is just about the last place I'd want to go to, even if Uncle Sam wanted to let me. Vegas is a shithole unless you're addicted to gambling. Sleazy low-class trash.

Anywhere in the Caribbean would suit me just fine or as someone suggested, summertime in Amsterdam would be a fine alternate choice. I guess the season depends on when we hit $100k.

First, the BTC price is not going to reach $100k until after the 2024 halvening, and in late 2020 or early 2021, BTC is only going to reach $98,765.43... Sorry to break the seemingly bearish news to you pie in the sky bulls, expecting $100k before the 2024 halvening.

Second, tentative date for such $100k-ish party could still be good based on price... even though it would possibly cause some logistic problems if guys (and gal) are unable to clear their schedules on such short notice.

[gembitz]

Jimbo you have a point about the US being problematic for some people.  Maybe we need a poll?

As for the date, well that is a matter of science so we need to accept it will be a northern hemisphere winter.

 

weeeeeee

[realr0ach]

Since the whole thread is people pretending the losses are entirely temporary paper losses while under the delusion the price will be a trillion dollars per coin someday, I think the downward grind and actual capitulation number might surprise even me.  At this point, from $2xxx to $1xxx will be the despair phase, and three digits will be the anger phase where random shitcoiners start sending death threats to people like Antonoplous for tricking them into malinvestments.

Do you think the decline is due to people panicing or due to TPTB, like this
https://breakermag.com/when-wall-street-financializes-bitcoin-who-benefits/
and the futures?

I wasn't trying to pin down an exact number or anything with that, I was mostly mentioning it doesn't feel like any type of capitulation has occurred.  Like you have this delusional poster named "BTCMillionaire" who claims the odds of bitcoin failing are 0% and it's guaranteed to be a million dollars a coin each, and all kinds of mindless people joining in going "yo dude, so true man, let me hit that crackpipe too bro".  It kind of spells out way longer downward grind ahead.

It's also hilarious for people to claim bitcoin can't fail when it's guaranteed to fail just the way the block rewards are structured alone.  While there's a high, static block reward running, each transaction is hugely subsidized.  When the block reward is either zero or low without a corresponding price increase, transactions are no longer hugely subsidized, and miners are then forced to try and raise taxes so to speak, or most of them just bankrupt and disappear leaving you an easily attacked chain.

The point is, once transactions are no longer hugely subsidized by a high dollar value static block reward in some manner or another, they'll be hugely expensive.  As long as there's some other type of shitcoin besides bitcoin operating out there in the blue somewhere with a high static block reward running that subsidizes their transactions, whether it's infinite inflation Dogecoin or some other random coin, people will just start sending transactions on the cheaper, more subsidized chain instead as long as security is not pathetically weak (and it probably won't be due to having a more efficient Ponzi that debases hodlers).

There's really only four possible options here:  

1)  People will slowly migrate away from bitcoin to more subsidized or inflationary chains that debase hodlers because they'd rather have cheap transactions than several hundred dollar or more transactions.

2)  People will move to some entirely centralized, closed entropy system like proof of stake solely because it has less overhead and cheaper transactions.

3)  Bitcoin itself will be forced to change to some other consensus mechanism with less overhead because nobody will pay the amount of overhead wanted by miners when they can pay less with some other alternative. (Bitcoin PoW is centralized and thus suffers most of the same cons as all the even more centralized systems anyway)

4)  People will realize it's not possible to create a decentralized digital currency, that neither PoW, PoS, or anything else is possible to be decentralized, and boycott cryptocurrency entirely and use something like physical metals.

[willope]

So, when is the $100 000 WO party and where? I pay the subway ticket for the bears.

I am also interested in the answer. Especially the "when" part.

November 20, 2021 in Vegas.  We still need to agree the venue for the party. All accommodation arrangements are to be made privately because opsec.  

I guess Bob mentioned some islands in the Caribbean...  it's a better idea as most of us are probably coming in our private jets anyway and we need some sun after long cold evenings with alcohol in front of our laptops during HODL.  

I'm not sure whose derriere that Nov. 20, 2021 date was pulled from but we're not having a $100k party until we actually reach $100k.

As for the location, Vegas is just about the last place I'd want to go to, even if Uncle Sam wanted to let me. Vegas is a shithole unless you're addicted to gambling. Sleazy low-class trash.

Anywhere in the Caribbean would suit me just fine or as someone suggested, summertime in Amsterdam would be a fine alternate choice. I guess the season depends on when we hit $100k.

First, the BTC price is not going to reach $100k until after the 2024 halvening, and in late 2020 or early 2021, BTC is only going to reach $98,765.43... Sorry to break the seemingly bearish news to you pie in the sky bulls, expecting $100k before the 2024 halvening.

Second, tentative date for such $100k-ish party could still be good based on price... even though it would possibly cause some logistic problems if guys (and gal) are unable to clear their schedules on such short notice.

Then we'll simply look bitfinex price, problem resolved.

[yefi]

Roger had eyes on flippening bitcoin, now he can't even prevent a coin headed by a fellow scumbag from flippening him.

[HairyMaclairy]

Schadenfreude for Roger should SV flip Bcash, deep in the trash barrel.

Edit:  yefi beat me to it!

[gentlemand]

Roger had eyes on flippening bitcoin, now he can't even prevent a coin headed by a fellow scumbag from flippening him.

I'm guessing that crew is keeping their powder dryer. They'll have more SV to dispose of than the other lot will have whateverit'scalled to dump.

Comical and pathetic and largely how I expected it to play out.

[rafanadal]

SV ABC parity

[rafanadal]

Still think Roger and Jihan will win the war.

[qwizzie]

here we go again, check bitfinex..

[realr0ach]

here we go again, check bitfinex..

Will the fake wall at $3500 be a future wikipedia entry for "Bitmain's last stand"?