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

[kurious]

https://www.reddit.com/r/Bitcoin/comments/akl4on/oc_how_many_people_are_using_bitcoin_by_country/

The most surprising here are India and Indonesia. I thought compared to how popular is internet in India and how popular are Gold and cash there, Bitcoin is way behind. I guess just news dont come out.

India and Indonesia alone account for what, 20% of the world's population? If this map is accurate, even at 1% that is around the 15 million mark, in just these two nations.  I am not sure whether to be sceptical, or blown away.

To extrapolate: with the rest of the world rolled in, if true this means many tens of millions of people - turned on and tuned in.  When I first was on this forum it was like being in a fringe group of nerdy anarchic oddballs.  Bitcoin getting a tiny mention in a major newspaper was a thing. 

Now there are more Bitcoin users than the population count of most European countries. 

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[HairyMaclairy]

Edit:
Also HM your "overlay" is incorrect.

Lies


In what sense is it incorrect?

It is simply incorrect because history rhymes. Your construction of overlay diminishes the obvious delay in timing from the previous movements to the current movements that are taking longer to develop. You will see soon enough when you shake it like a Polaroid picture!

Fair enough.  

I think that the halvening (supply reduction) remains the primary driver of price over the long term.   I also think that the “longening” (increase in Bitcoin price cycle time) is inconsistent with the halvening being fixed 4 year periods, more or less.

 In other words I do not believe in the longening and think it is just an artifact of historic price battles.  

We shall see soon enough whether I am wrong and the longening is a thing.  I would say that the longening is a thing if the price is still doing poorly, at or below this level in December.

A little bit of a strange speculative indicator that you raise here, namely "longening", and surely a long amount of history of several more cycles would likely be needed to determine with any kind of certainty whether a "longening" is actually happening.  I doubt that you would be able to determine such a phenomena from this exact cycle, even though it is not a bad talking point.

Regarding the halvening, the percentage of its affect in respect to BTC supply is certainly a less and less proportion of the bitcoin, so it will seem to have diminishing importance in the future, even though I would agree with you that today, that halvening plays a considerable role today, and perhaps bordering on a "primary driver" role as you assert.

To clarify, I am saying there is insufficient evidence for a longening.  

I think we are in agreement?

[makrospex]

There are some recent hypothesizing that if he does not get thrown in jail in the coming years, he will likely, inevitably, end up coming back to bitcoin.. but I have some difficult times seeing that anytime soon, and he may just go down with the ship and keep Bcash alive for 30 years, finding ways to profit off his ongoing scam and deception in this wild wild west of crypto, and really there are plenty of status quo that would not mind funding his ongoing deceptions in an effort to continue to attempt to undermine bitcoin.

Honestly, i'd rather know that he is behind bars instead of seeing his face at BTC again.
My first and ever BCH transaction took 22 minutes to confirm, btw.

The odds of Roger going behind bars at any time in the near future don't seem too high right now, and seems merely like wishful thinking, even though we have seen Roger engaging in some pretty manipulative, emotional and childish behaviors....

Does his conduct in this BTC/crypto wild wild west cross criminal legal lines that would put him in jail?  And what jurisdiction is going to do it?  To me, it seems too early to speculate on that kind of wishful thinking.

Yeah.
Just a dirty, hidden thought that slipped out in a weak moment and inspired my reply 
Totally wishful.

[HairyMaclairy]

How the left see the red hats

#allbrandssmatter

People choose to associate themselves with brands by displaying those brands' logos.  By wearing that brand, they are seeking to associate themselves that brand's identity and values.

• Chanel brand values are 'elegance, luxury and exceedingly good quality'
• Coca Cola brand value is 'happiness'
• Lamborghini brand value is 'Aggressive - Not for the faint hearted'
• North Face brand value is 'Never stop exploring'

By wearing gear from the brand, you want some of the magic of that brand to rub off on you.  This is a deliberate choice.  A girl buys a Chanel handbag because she wants to be seen as elegant and wealthy.  Whether or not we believe the girl is elegant and wealthy is another matter, but that is how she wants to be perceived.

A MAGA hat wearer buys and wears a MAGA hat because they want to be associated with the MAGA brand and want some of the MAGA brand magic to rub off on them.  It is then up to the reader to decide what are the brand values of the MAGA brand, and how much of that should rub off on the person who chooses to wear MAGA gear.  

But let's be clear, the wearer of the MAGA hat wants to be perceived consistent with the MAGA brand values.  That's why they are wearing the hat.  

[Last of the V8s]

Please don't quote the trolls.

[jbreher]

anybody else get a totally whack 1099-K from Coinbase?

these numbers are absurd

1099-K is not a form that most individuals have ever seen. It is for reporting non-cash money flows - typically used to track credit card receipts for retailers and such. Why Coinbase thinks this is an appropriate filing for individuals is a mystery.

I've not yet looked at mine this year. Last year's was yuuuge. But it did not tabulate any sort of profit, but rather sheer volume of transactions. I filed based on my own tabulation of capital gains, which was a scant fraction of the flows shown on the 1099-K. I have not (as of yet, anyway) been audited for 2017.

So the figures you are seeing on your 1099-K are likely not absurd. Probably correct, just irrelevant.

https://i.imgflip.com/2s85ev.jpg YouCantGet1099dIfYouDontUseCoinbase.jpg

Well, other than the fact that that is not true, I don't understand the relevance. Your tax liability is your tax liability. The issuance of a 1099 does nothing to alter this fact.

[jbreher]

...
And of course if LN works and transaction costs go really down.
...

I doubt that most centralized hubs will process transactions out of
benevolence - they will take a cut from every transaction. Even if the
Lightning Network works in practice (which is doubtful) and even
if somehow it manages to gain traction in the African countries you still
have the problem of funding LN channels in the first place.

It would not be of much use to people in poorer countries when LN
transactions are dirt cheap (which they probably will not be when
the liquid LN hubs will be run by banks and exchanges), but to get started
you would need to pay a 20 $ fee for the funding transaction on the BTC
main layer.

Yeah. It's almost is if they might benefit from a Bitcoin that has tx capacity well above demand for such, with the resultant inconsequential tx fees, enabling them to transact directly on chain. I wonder if such a Bitcoin exists...

[Febo]

In other news, Bob has been drafted by the NFL:

In a movie "Daughters of the Sexual Revolution" that is a documentary of a Dallas cheerleaders movie. One of the ex cheerleaders that was chearleading 20 years ago said that her dad was a cheerleader and there was a black and white video of 3 male cheerleaders cheerleading. It looked like in 50ties or 60ties. It seems they are going back to the roots.

[infofront]

anybody else get a totally whack 1099-K from Coinbase?

these numbers are absurd

1099-K is not a form that most individuals have ever seen. It is for reporting non-cash money flows - typically used to track credit card receipts for retailers and such. Why Coinbase thinks this is an appropriate filing for individuals is a mystery.

I've not yet looked at mine this year. Last year's was yuuuge. But it did not tabulate any sort of profit, but rather sheer volume of transactions. I filed based on my own tabulation of capital gains, which was a scant fraction of the flows shown on the 1099-K. I have not (as of yet, anyway) been audited for 2017.

So the figures you are seeing on your 1099-K are likely not absurd. Probably correct, just irrelevant.

https://i.imgflip.com/2s85ev.jpg YouCantGet1099dIfYouDontUseCoinbase.jpg

Well, other than the fact that that is not true, I don't understand the relevance. Your tax liability is your tax liability. The issuance of a 1099 does nothing to alter this fact.

There are exchanges that don't send 1099s. And 1099s don't alter your tax liability, but they alter the tax liability that the IRS knows about.

[HairyMaclairy]

But let's be clear, the wearer of the MAGA hat wants to be perceived consistent with the MAGA brand values.  That's why they are wearing the hat.  

Ok, but, like, what if I, for example, buy a legit MAGA hat, but, just, like, leave it in my top drawer, never putting it on my head, much less leave the house with it on ?

If I buy a Chanel handbag but only keep it in the closet, then maybe I don’t want the public to think I’m an elegant and wealthy girl.   

[infofront]

But let's be clear, the wearer of the MAGA hat wants to be perceived consistent with the MAGA brand values.  That's why they are wearing the hat.  

Ok, but, like, what if I, for example, buy a legit MAGA hat, but, just, like, leave it in my top drawer, never putting it on my head, much less leave the house with it on ?

You can't hide anything from Jesus.

[jbreher]

anybody else get a totally whack 1099-K from Coinbase?

these numbers are absurd

1099-K is not a form that most individuals have ever seen. It is for reporting non-cash money flows - typically used to track credit card receipts for retailers and such. Why Coinbase thinks this is an appropriate filing for individuals is a mystery.

I've not yet looked at mine this year. Last year's was yuuuge. But it did not tabulate any sort of profit, but rather sheer volume of transactions. I filed based on my own tabulation of capital gains, which was a scant fraction of the flows shown on the 1099-K. I have not (as of yet, anyway) been audited for 2017.

So the figures you are seeing on your 1099-K are likely not absurd. Probably correct, just irrelevant.

https://i.imgflip.com/2s85ev.jpg YouCantGet1099dIfYouDontUseCoinbase.jpg

Well, other than the fact that that is not true, I don't understand the relevance. Your tax liability is your tax liability. The issuance of a 1099 does nothing to alter this fact.

There are exchanges that don't send 1099s. And 1099s don't alter your tax liability, but they alter the tax liability that the IRS knows about.

If you think the IRS does not know about your tax liability -- or perhaps more properly will never know about your tax liability -- regardless of whether or not you've been 1099'd, you may be deluding yourself.

And again, the 1099-Ks that Coinbase sends are not an indication of any tax liability. In the USA, tax is owed on profit, not flow.

[Patel]

For those interested, Ledger is having discounts :

http:///

Nice scam.

Note: Never ever buy a hardware wallet from anywhere other than the manufacturers website. Or you will have your money stolen from the hardware wallet.

[kenzawak]

For those interested, Ledger is having discounts :

http://..../

Nice scam.

Note: Never ever buy a hardware wallet from anywhere other than the manufacturers website. Or you will have your money stolen from the hardware wallet.

Shit my bad, I didn't check. Please delete the link in your post.
I removed my post, sorry about that.

[jojo69]

Am I misunderstanding them? I figured if they can not guarantee liquidity for the current users that means they don't have what's in people's wallets online? Right

I think it just means they don't have the volume to match trades reliably.

[Hueristic]

Who else is high?

Maybe the first "Legal" one.

anybody else get a totally whack 1099-K from Coinbase?

these numbers are absurd

1099-K is not a form that most individuals have ever seen. It is for reporting non-cash money flows - typically used to track credit card receipts for retailers and such. Why Coinbase thinks this is an appropriate filing for individuals is a mystery.

I've not yet looked at mine this year. Last year's was yuuuge. But it did not tabulate any sort of profit, but rather sheer volume of transactions. I filed based on my own tabulation of capital gains, which was a scant fraction of the flows shown on the 1099-K. I have not (as of yet, anyway) been audited for 2017.

So the figures you are seeing on your 1099-K are likely not absurd. Probably correct, just irrelevant.

QFT

[bitcoincidence]

For those interested, Ledger is having discounts :

http://..../

Nice scam.

Note: Never ever buy a hardware wallet from anywhere other than the manufacturers website. Or you will have your money stolen from the hardware wallet.

Shit my bad, I didn't check. Please delete the link in your post.
I removed my post, sorry about that.

Prices are like on the original ledger website and it's also linking there.
Don't think it's a scam.

[Last of the V8s]

it's pronounced huawei you doofuses
not wawei
who cucked you
what's so hard about that

[infofront]

It's too painful to discuss

[El duderino_]

BREAKING NEWS from MASTERMIC

market = oversold, BTC are cheap as F***, MASTERMIC just wrote on that expert page that he doesn't need any TA just to know its the absolute moment
to start buying/buying again and keep on buying if the price would drop further, also that MASTERMIC guy said do not drink any FUDcoolAID, and keep on hodling
those that are busy with that are doing good, those that doesn't should start right away
he hope's that his words were being used as good advice and he said GL to those that are on the train
whatever that all mean't it sounded serious business
DYOR
F*** I have no link to that MASTERMIC's post etc