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

[eddie13]

I want that correction! Buy order ready at $4600:

A suggestion:   Don’t use round numbers for your limit orders. Put it $20 or $30 above because if the price is going to bounce, it will bounce above $xx00.  If the prices touches $xx00 then it’s going to drop below that amount.

It could eat though half the wall at $4600 and not drop below, but then your order depends on which of the $4600 orders are processed first by the exchange. at $4601 yours should be processed before all the $4600 orders.

Hairy is correct, as seems to be a frequent pattern in recent times with these price and practice matters.

In sum, best practice is that you should be setting your buy orders a bit higher than the round numbers and also your sell orders a bit lower than the round numbers.  

When you assert that price might possibly do x, y or z and half way eat through such round numbers blah blah blah.. you are being both intellectually lazy and likely more greedy than you need to be.    The odds are against you, too, especially if you look at how the BTC price usually behaves and even if you want to attempt to rationalize away your bad practice(s), seeming laziness and lack of desire to improve your approach.  

Yeah but if the wall is at 4620 you need to put your order in @4625 or something. Walls do tend to be on the round numbers but even the walls cut infront of eachother..
Look at the books to place your orders..

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[free-bit.co.in]

When will the Bitcoin rocket land on the Moon?  Seems Bitcoin has plenty of fuel for now! 

[jbreher]

Still unanswered: How LN is going to help when Layer 1 is already clogged to the point of uselessness.

We will cross that bridge when we get there.  

If this price pump continues, we could get there next week. Unfortunately, there is no solution on the horizon under discussion.

Once the blocks are full, no additional people can open a LN channel. Nobody can close an LN channel. (Not without out-paying those txs already waiting to be built into a block). Nobody can post evidence of stolen channel funds as a result of counterparty posting an earlier channel state. Nobody can get BTC into or out of exchanges. ...

All y'all are hanging your hopes on a promise that has no chance to deliver its stated benefits.

Sure, LN will have important use cases. But at the cost of crippling the base layer? Collective delusion.

[Biodom]

A hypothesis:

'Everyone' agreed beforehand on bull market most likely commencing in 2020-2021, but
here comes Wyden with his ordinary (up to 37%) tax on 'appreciation' of assets (there would be exceptions, of course).
Btc bull market switches to 2019-2020 instead, thereby producing "orbital' btc prices by the end of 2020 instead of later.
End result: even if that law is enacted (only if Dems produce a sweep in 2020, which is unlikely but possible), your btc assets would not appreciate much in 2021-2023 as they would already plateaued at a very high number (say, 160-500K) and that tax law cannot be made retroactive to 2020.
Thereby, PTB initiated a "premature" btc startup engine ignition...just in case if the law ever passes.
Using the same logic, perhaps a wild stock and property bull markets would also ensue in 2019-2020 so investor class would ease into 2021-2023 with not much "new" gains to pay the "investment gains" tax on.
Stranger things happened.

[kurious]

Been thinking:


.......

these are kind of my thoughts just written in greater detail.

in 2015 everbody was like ahh bitcoin dont know it was just a hype it wont come back
now its like yeah wait for the halvening and it will be like in the 6 digits .
 alot of people are quietly watching the price and the ones with guts are getting in early.

nobody knows what will happen till the halvening but you can say the price will be higher at the halvening

Great post.  I think this rally over the next two years is the big one. Everyone has heard of Bitcoin but almost no one owns any.   Wall Street has spent this bear market building the critical infrastructure and is largely ready to roll.  

Even the SEC is ready. Bring it.  

@ProfTP - thanks, but maybe it isn't the guts, now it's more about whether you have cash you can get in in time


@Hairy - Yes, agreed - it will be huge... there are so many magnifying factors it's looking perfectly tuned for acceleration.

Bring it on indeed.

[crypmike]

Cryptomarket

[kurious]

Been thinking:

-snip-

Maybe there isn't so much time left to accumulate at these levels after all?

-snip-

Well, I just hope you've already packed your bags for the trip and they are as full as possible.  Don't worry, though - I have a feeling it won't be too cold where we are headed.

In fact, it's probably a good idea to bring your shades.

+2 WOsMerits

flipflops are optional however.

Casual as you like, Toxic, strong hands have worked hard hanging in there for long enough.  It's time to enjoy the ride.

[qwizzie]

Cryptomarket

poor sheep

[jbreher]

I'm calling Bitcoin post count parity some time in 2024. Whether that Bitcoin be BTC, BCH, or SV is an open question.

I think the next FOMO pile-in is going to make evident to the world the weaknesses of the Core-ian approach to scaling. The other forks (hewing more closely to Satoshi's inspired design) will be there to pick up the slack.

Incidentally, while BTC is up 14+% in the last 24 hours, BCH is up over 27% in the same time frame.

Yes, SV is lagging at 11+%. ::sigh::

Oh my fucking god.  You are either sick or delusional to still be having those kinds of illusions of grandeur in respect to those two shitty-ass bcash projects.

Still unanswered: How LN is going to help when Layer 1 is already clogged to the point of uselessness.

That's simple. First of all, your scenario has never happened. The blockchain has never been "clogged to the point of uselessness."

I would argue that $100 tx fees and days-long waits are such a state of reduced usefulness that 'useless' is an apt descriptor. We were there before, and we are once again trending there.

But let's say BTC again skyrockets and the median transaction fee goes up to $10. This means people will be incentivized to use Lightning and do as much LN transacting as possible before a channel must be closed.

How is that going to happen when new players are unable to get an LN channel opening tx mined into a block? 1ML tells me that the current average channel value is 0.027 BTC - $144.00 USD. Who is going to pay $100 to be able to transact $144? Nevermind the next $100 to close the channel again. Yes, in time this channel value will increase. But it is currently hard-capped, right?

During the entirety of the bear market Lightning has been preparing itself for exactly such an occurrence, all the while its critics were talking about how it will harm miners and is unsafe to use. Meanwhile its grown in leaps and bounds, and will continue to grow the higher BTC goes.

Yep, growing by leaps and bounds. 1ML reports total network fundage at about $5.5M USD. If one could aggregate all the funds in the entire LN (though of course one cannot), one would be able to buy a single house in most any market. But of course, that would exhaust the entire LN capacity. And leave no home buying power for any other LN participant. I mean, kudos on the growth, but LN needs further orders of magnitude to become something significant.

Incidentally, while BTC is up 14+% in the last 24 hours, BCH is up over 27% in the same time frame.

BCH and SV aren't rising on their own merits.

Sez you.

Put yourself in the shoes of the average business owner who is still skeptical of cryptocurrency and is only beginning to consider adopting BTC for their business... Then along comes this chatter about how BCH and SV are better, and they look into it, only to discover that now they have to learn how to use and install 2 more wallets that aren't compatible with BTC, in the hopes that they will have customers who want to pay in BCH and SV.

Always amazes me how so many who have obviously never been responsible for running a business seem to feel qualified to pontificate upon what a business owner might do. Which is easier for a biz owner to implement - a BCH wallet (or a link to a BCH payment processor), or their own LN node?

[jbreher]

I'm calling Bitcoin post count parity some time in 2024. Whether that Bitcoin be BTC, BCH, or SV is an open question.

I think the next FOMO pile-in is going to make evident to the world the weaknesses of the Core-ian approach to scaling. The other forks (hewing more closely to Satoshi's inspired design) will be there to pick up the slack.

Incidentally, while BTC is up 14+% in the last 24 hours, BCH is up over 27% in the same time frame.

Yes, SV is lagging at 11+%. ::sigh::

Oh my fucking god.  You are either sick or delusional to still be having those kinds of illusions of grandeur in respect to those two shitty-ass bcash projects.

Still unanswered: How LN is going to help when Layer 1 is already clogged to the point of uselessness.

1st bit..lol..literally. Middle part just opinion. This last bit is out right lies.

I will just follow with this.

"You are a sad, strange little man and you have my pity."

"Farewell."

::sigh:: Still unanswered.

[jbreher]

...

Incidentally, while BTC is up 14+% in the last 24 hours, BCH is up over 27% in the same time frame.

...

With "low" stagnant BTC prices bitmain doesn't have the profits to prop up bcash, so bcash was being priced to go bye bye into the night. Unfortunately BTC going up gives bitmain fatter margins to continue keeping its pet project afloat, so bcash shorts got burned this time around. Gambling on shitcoins being leveraged BTC will burn a lot of "traders".

Interesting theory. Nothing to back it up, but whatevs.

Oh did I say BCH was up 27% in the last 24 hours. I was wrong. It is up over 45% in the last 24 hours.

[_javier_]

...

Incidentally, while BTC is up 14+% in the last 24 hours, BCH is up over 27% in the same time frame.

...

With "low" stagnant BTC prices bitmain doesn't have the profits to prop up bcash, so bcash was being priced to go bye bye into the night. Unfortunately BTC going up gives bitmain fatter margins to continue keeping its pet project afloat, so bcash shorts got burned this time around. Gambling on shitcoins being leveraged BTC will burn a lot of "traders".

Interesting theory. Nothing to back it up, but whatevs.

Oh did I say BCH was up 27% in the last 24 hours. I was wrong. It is up over 45% in the last 24 hours.

no altcoin disussion in this thread, thanks

[jbreher]

Love the rally, hate the fact that two forks are up much more. This is bizarre.

Is there something to worry about here?

No, check out their mempools.

Some see the ability to include all txs within the next block (e.g., the 100MB+ blocks on BSV) as a positive trait.

If you really want your mempool to escalate uncontrollably, why not get behind Dashjr's crazy 300KB proposal?

[El duderino_]

Been thinking:


.......

these are kind of my thoughts just written in greater detail.

in 2015 everbody was like ahh bitcoin dont know it was just a hype it wont come back
now its like yeah wait for the halvening and it will be like in the 6 digits .
 alot of people are quietly watching the price and the ones with guts are getting in early.

nobody knows what will happen till the halvening but you can say the price will be higher at the halvening

Great post.  I think this rally over the next two years is the big one. Everyone has heard of Bitcoin but almost no one owns any.   Wall Street has spent this bear market building the critical infrastructure and is largely ready to roll.  

Even the SEC is ready. Bring it.  

@ProfTP - thanks, but maybe it isn't the guts, now it's more about whether you have cash you can get in in time


@Hairy - Yes, agreed - it will be huge... there are so many magnifying factors it's looking perfectly tuned for acceleration.

Bring it on indeed.

Don’t think to much Buy while you can and HODL

to think is for later on our paradise islands

[wachtwoord]

Someone really just triple posted btrash shit talk (in multiple flavours) in this thread. Wow .... time for a moderator ...

[El duderino_]

Bitcoin will be the Sapiens story of the 21st century

It's understood by millions across languages & cultures

The shared belief in the ability to:

- Securely store wealth through time
- Transfer wealth w/o 3rd party

Everyone needs it, most people just haven't realized it yet

https://twitter.com/misir_mahmudov/status/1113536149178454016?s=21

That Said....

I’m curious how Bcash, BSV, ver, imposter CSW, jihan etc Will be remembered

[Biodom]

Bitcoin will be the Sapiens story of the 21st century

It's understood by millions across languages & cultures

The shared belief in the ability to:

- Securely store wealth through time
- Transfer wealth w/o 3rd party

Everyone needs it, most people just haven't realized it yet

https://twitter.com/misir_mahmudov/status/1113536149178454016?s=21

That Said....

I’m curious how Bcash, BSV, ver, imposter CSW, jihan etc Will be remembered

All I remember those two dudes for is their opinions about btc going to $1500-1800.
Don't care about their fancy words about "Sapiens/civilization".
Maybe they are as wrong about "civilization" as they were about the price.

[El duderino_]

Days $BTC was above $5k

2016: 0
2017: 80
2018: 322
2019: 2

also, in 2017, from $5555 to $20k took only 35 days.

https://twitter.com/carpenoctom/status/1113543847378915331?s=21

[El duderino_]

Bitcoin will be the Sapiens story of the 21st century

It's understood by millions across languages & cultures

The shared belief in the ability to:

- Securely store wealth through time
- Transfer wealth w/o 3rd party

Everyone needs it, most people just haven't realized it yet

https://twitter.com/misir_mahmudov/status/1113536149178454016?s=21

That Said....

I’m curious how Bcash, BSV, ver, imposter CSW, jihan etc Will be remembered

All I remember those two dudes for is their opinions about btc going to $1500-1800.
Don't care about their fancy words about "civilization".
Maybe they are as wrong about "civilization" as they were about the price.

Here I like what I read, where it coming from doesn’t matter much...

[BTCMILLIONAIRE]

It's ded.