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

[El duderino_]

https://twitter.com/RedditBTC/status/1086112393053245440

little Micg still is happy with crypto's

NO stress jojo, just riding those waves

[theymos]

Despite everyone's biggest fears that keep getting repeated ad nauseum, he flat out told people not to invest in it now seeing as how 60 coins are produced every 60 seconds and its highly experimental, unproven software that may have zero value in the future.

Yeah, I'm not making major purchases now or anything. And I definitely wouldn't mine it if doing so becomes unprofitable (though in fact it seems very profitable right now due to hype). Price-wise, IMO it'll start looking like a good buy if it hasn't been superseded by clones in about a year. I'll be looking for a point of low sentiment at that time. Some people have said that you'll need to wait like 3 years before it escapes from its inflation pit, but keep in mind that Bitcoin's inflation-rate-over-time was roughly the same in its first 4 years; such high initial inflation is why you saw people buying pizzas for 10k BTC like it was nothing. But growth, if it occurs, can overcome even pretty massive inflation.

The tech is just so awesome: a high degree of privacy combined with by far the best decentralization-preserving on-chain scaling tech ever devised, plus several smaller innovations in grin's particular implementation. Even if it was somehow guaranteed to halve in price every year, I'd still consider it cool and want to do something with it.

[JayJuanGee]

Despite everyone's biggest fears that keep getting repeated ad nauseum, he flat out told people not to invest in it now seeing as how 60 coins are produced every 60 seconds and its highly experimental, unproven software that may have zero value in the future.

Yeah, I'm not making major purchases now or anything. And I definitely wouldn't mine it if doing so becomes unprofitable (though in fact it seems very profitable right now due to hype). Price-wise, IMO it'll start looking like a good buy if it hasn't been superseded by clones in about a year. I'll be looking for a point of low sentiment at that time. Some people have said that you'll need to wait like 3 years before it escapes from its inflation pit, but keep in mind that Bitcoin's inflation-rate-over-time was roughly the same in its first 4 years; such high initial inflation is why you saw people buying pizzas for 10k BTC like it was nothing. But growth, if it occurs, can overcome even pretty massive inflation.

The tech is just so awesome: a high degree of privacy combined with by far the best decentralization-preserving on-chain scaling tech ever devised, plus several smaller innovations in grin's particular implementation. Even if it was somehow guaranteed to halve in price every year, I'd still consider it cool and want to do something with it.

Confirmed.  Everyone (every single one) prepare to transition into Grin. 

[jojo69]

"Hundreds of thousands of Lloyds, Halifax and Bank of Scotland customers were unable to make payments from their online accounts today. "

https://www.bbc.com/news/business-46925629

Ahhhh, legacy system, don't you go changin'

[sirazimuth]

Confirmed.  Everyone (every single one) prepare to transition into Grin.     (<--grin)

ftfy

[_javier_]

The grin mania is out of control.

I cant remember this enthusiasm for an ALT in this BTC wall observing thread.

[YourMother]

Repost of a classic chart (source unknown):

This was drawn by a dumbass bear.

As seen in the chart, in both previous halvings BTC has pumped by at least 3x before the halving event and by at least 10x, immediately and violently, after the halving event. And this idiot is trying to tell me that the next time will be different.

[infofront]

Repost of a classic chart (source unknown):

This was drawn by a dumbass bear.

As seen in the chart, in both previous halvings BTC has pumped by at least 3x before the halving event and by at least 10x, immediately and violently, after the halving event. And this idiot is trying to tell me that the next time will be different.

Something occurring twice doesn't make for a convincing pattern to predict future events with IMO.

[HairyMaclairy]

The grin mania is out of control.

I cant remember this enthusiasm for an ALT in this BTC wall observing thread.

Give it a week.  Everyone will get bored and move on.

[gentlemand]

Give it a week.  Everyone will get bored and move on.

Speak for yourself. I just named all the children I keep in my porn dungeon after it.

[LFC_Bitcoin]

Grin.

Fucking Grin



I’m not touching it with r0ach’s

[YourMother]

Repost of a classic chart (source unknown):

This was drawn by a dumbass bear.

As seen in the chart, in both previous halvings BTC has pumped by at least 3x before the halving event and by at least 10x, immediately and violently, after the halving event. And this idiot is trying to tell me that the next time will be different.

Something occurring twice doesn't make for a convincing pattern to predict future events with IMO.

Definitely not a convincing pattern, but better than ridiculously stretching some shit without any backing for it

[infofront]

Despite everyone's biggest fears that keep getting repeated ad nauseum, he flat out told people not to invest in it now seeing as how 60 coins are produced every 60 seconds and its highly experimental, unproven software that may have zero value in the future.

Some people have said that you'll need to wait like 3 years before it escapes from its inflation pit, but keep in mind that Bitcoin's inflation-rate-over-time was roughly the same in its first 4 years; such high initial inflation is why you saw people buying pizzas for 10k BTC like it was nothing. But growth, if it occurs, can overcome even pretty massive inflation.

Good point.

Grin inflation rates

Year #	Yearly monetary inflation rate
1	36500%
2	100%
3	50%
4	33%
5	25%
6	20%
7	17%
8	14%

Bitcoin Inflation Rates
Year     #bitcoins       Inflation per annum
2009     1,624,250           ∞
2010     5,020,250        209.1%
2011     8,001,400         59.4%
2012    10,733,825         34.1%
2013    12,199,725         13.7%
2014    13,671,200         12.1%
2015    15,029,525          9.9%
2016    16,075,400          7.0%

Source

[HairyMaclairy]

Worth noting that Bitcoin inflation is currently 3.8% dropping to 1.8% in May 2020. 

[El duderino_]

The grin mania is out of control.
I cant remember this enthusiasm for an ALT in this BTC wall observing thread.

Give it a week.  Everyone will get bored and move on.

I was just going to say, the only thing driving me to look into this Grin stuff, is sheer boredom at the moment with BTC price stagnation.

Wanted to play some vidya on my studio game system, but decided to head to bed to play on muh lappy instead; leave the studio system mining Happybucks.

What have we become ?!???

cryptoslaves ?

[RayX12]

gr........   is just another ploy to dump BTC into the next level of support.
Nothing but manipulation at every step.
... ohhh the tech is so and so.. 

[sirazimuth]

The grin mania is out of control.

I cant remember this enthusiasm for an ALT in this BTC wall observing thread.

Give it a week.  Everyone will get bored and move on.

everyone in the know probably thinks/thought that (me included) about every coin launch  

...including bitcoin I might add.... (and 99.99% of time they are right)

[goldkingcoiner]

[infofront]

Worth noting that Bitcoin inflation is currently 3.8% dropping to 1.8% in May 2020. 

Right. That's the other reason I think people are overblowing the effects of the halvenings going forward. The inflation rate is already getting fairly low.
OTOH even with decreasing inflation, the downward price pressure caused by miner selling keeps increasing in terms of fiat, due to the increasing price of BTC.

2019    18,100,400          3.9%  (estimate) 
2020    18,575,200          2.6%  (estimate, halvening)
2021    18,912,700          1.8%  (estimate)
2022    19,250,200          1.8%  (estimate)
2023    19,587,700          1.8%  (estimate)
2024    19,806,350          1.1%  (estimate, halvening)
2025    19,975,100          0.9%  (estimate)
2026    20,143,850          0.8%  (estimate)
2026    20,312,600          0.8%  (estimate)

[infofront]

The grin mania is out of control.
I cant remember this enthusiasm for an ALT in this BTC wall observing thread.

Give it a week.  Everyone will get bored and move on.

I was just going to say, the only thing driving me to look into this Grin stuff, is sheer boredom at the moment with BTC price stagnation.

Wanted to play some vidya on my studio game system, but decided to head to bed to play on muh lappy instead; leave the studio system mining Happybucks.

What have we become ?!???

What do you like to play Bob?