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

[realr0ach]

Nope, I got them right.  It was an approximation, but it's right.  There was a significant period of dragging on the lower bound both times before each pump and dump spike, which has not happened here, and each period of dragging on the lower bound extends each time.  Also, if you look at a mining capex chart, the mining appears to be peaking out at the top of an arc.  

The mining capex is probably the more relevant chart than this because it's what determines the price floor.  In other words, the price can't just magically go to $100k without mining also skyrocketing, but there's kinda way too much bitcoin mining already and it's just not really realistic for bitcoin mining to go up by like an order of magnitude to support said price.  Even after one more halving it would probably use as much power as the entire United States if the price went to $100k.  Miners didn't even increase capex in the last pump and dump to $20k (it stayed at $2-3k cost of production) because they knew it was an unsustainable market rigging scam.

[Cryptotourist]

OK, now you are playing dumb.

FTFY:

[realr0ach]

Okay, since you people are chart illiterate, let me spell it out for you in caveman terms for the mining specifically.  If the price of bitcoin is high and the mining cost of production is low, the market then becomes flooded with new mining to take advantage of that.  Even though Gmaxwell tried to argue with me and claim it doesn't, I would say the bitcoin price definitely trends towards cost of production, especially because there's so much fuckery going on like people stealing power and buying miners to do things like launder money and they're willing to take a hit in the conversion.

So for mining you definitely have a decent amount of irrational actors who don't even care about mining for profit because profit isn't even their motive, just to clean the bills.  Or they're stealing power and it's all free regardless. Anyway, there never was a real mining capex explosion resulting from the rise to $20k.  If the price of bitcoin only went to even $50k and managed to stay near there somehow over an extended period in the near future (1-4 years), it would require mining to explode by something like an order of magnitude from where it is now.  It would probably use more power than the entire US.  It's not likely that happens.

[d_eddie]

Call me an age scientist pessimist.

...

In short, boo hooo,       Bitcoins are not likely to buy either the power of youth or sufficient power to overcome likely degenerative aspects of aging..

Jay, for corn's sake!
It was just a greeting wish...  

[UnDerDoG81]

Next bottom is found:

I get me one of these when we hit 100k

[vapourminer]

~snip~

Call me an age scientist pessimist. 

This debate is philosophical and for some peeps, just waste of time or pure bullshit "read very young and very old " I comes in midway and I want 30 more years of healthy life if I make it on this mark, then I can push 20 more years easily if life doesn't come in a way.

key is "take care of your body when you are young" IMHO.

while thats true, we (my buds and i) were indestructible when we where young. and we proved that, to a point. we just collected a fairly amazing collection of scars, broken bones, and burnt out brain cells.

i mean thats the point of being young. test the bodies limits. worst that can happen is you die in a spectacular way, worthy of stories told down the ages.

even if the we knew all those "hold muh beer" moments of youth would knock years off of our lives (and we more or less did), we still would of done them if we had the chance to do it again. it was a blast.

sitting around the nursing home in a diaper and sucking your gums while a nurse wipes the drool off your face doesnt really appeal to me. and medical advances wont be anywhere near the point that regeneration of your body and brain are feasible, not for a long time yet. as thats the only way to really extend quality life.

[fillippone]

Okay, since you people are chart illiterate, let me spell it out for you in caveman terms for the mining specifically.  If the price of bitcoin is high and the mining cost of production is low, the market then becomes flooded with new mining to take advantage of that.  Even though Gmaxwell tried to argue with me and claim it doesn't, I would say the bitcoin price definitely trends towards cost of production, especially because there's so much fuckery going on like people stealing power and buying miners to do things like launder money and they're willing to take a hit in the conversion.

So for mining you definitely have a decent amount of irrational actors who don't even care about mining for profit because profit isn't even their motive, just to clean the bills.  Or they're stealing power and it's all free regardless. Anyway, there never was a real mining capex explosion resulting from the rise to $20k.  If the price of bitcoin only went to even $50k and managed to stay near there somehow over an extended period in the near future (1-4 years), it would require mining to explode by something like an order of magnitude from where it is now.  It would probably use more power than the entire US.  It's not likely that happens.

Again:
what if adoption is releasing a LOT of this selling pressure?

I am thinking about this:
Square Cash App “Absorbing” 10% of Bitcoin Supply Daily, 200% Projected By 2020

[realr0ach]

Can't wait till the Jewish occupied US govt finally implodes.  Market cap of bitcoin is $140 billion and it swings by like 40% some days (6-7% today).  Market cap of above ground, investment grade silver is like $40 billion, yet the most it moves (due to the ESF) is 1%.....one fucking percent a day LOL.  Of course those lack of movements just build up into an unsustainable snowball over time, eventually making the ESF catastrophically implode, then you would theoretically see even bigger movements in silver from being a smaller market cap than bitcoin.  That unsustainable snowball is getting close.

[Zaanda]

hello bitcoin people  


I have a question.  A lot of people talk about EMA  or MA,  I have found these options on Cryptowatch charts and bitcoinwisdom charts.  But how to i see the 20 or 50 day version of the trend.  hope some people can help me.

[Last of the V8s]

This is exactly the pull back I was expecting last night, I'm not feeling another pullback so I'm back into btc for the daytrade holdings. Not sure which way we go but I'm expecting 8,100 and a settling around there for a day or two.

*This is all from my ass, no TA just as likely.

Sorry I doubted your ass for one moment.

[rebal15]

Hey guys, have you seen rebal15, I'm kinda worried.

He is on bitfinex when he is not working. Nothing to do on WO when the market is green.

He must like losing money...

Just sold everything with some lost.
Now moving to bittrex to sell some shitcoin (3 shitcoin).

[d_eddie]

This is exactly the pull back I was expecting last night, I'm not feeling another pullback so I'm back into btc for the daytrade holdings.

This could be it, but it needs to hold here (below 8k) for a couple of days before it gains credibility as a real pullback as opposed to a random hiccup.

*This is all from my ass, no TA just as likely.

Seems like you and I are using the same technique 

[d_eddie]

Next bottom is found:

I get me one of these when we hit 100k

I get me one of these and one of V8's.

[realr0ach]

what if adoption is releasing a LOT of this selling pressure?

Did you not read what I said?  If price was to skyrocket (and actually stay there and not instantly implode) it also requires mining to skyrocket as well.  If people are currently mining for $2k, $3k, $4k and the price 'only' went to $50k, you'd basically need mining to go up by an entire order of magnitude and it would use more power than the entire US.  Do you think such a thing is actually going to happen?  You would need LOTS more halvings before bitcoin could go anywhere near numbers you people claim without instantly causing some type of global energy crisis.

If Bitcoin is a US govt invention whose main purpose is to try and place people into a cashless society slavery system where everything is tracked and monitored, they probably realized this and tried (and failed) to force people into bullshit like Ethereum instead which doesn't face these immediate energy issues (but instead has numerous of it's own unworkable issues).  Anyway, fuckem all.  The central planner kikes can all roast.  I'm in physical metals.

[Last of the V8s]

mother of dickheads
https://www.bloomberg.com/news/articles/2019-05-15/bitcoin-rally-is-masking-capital-flight-from-crypto-exchanges
daddy of truth
https://bitinfocharts.com/bitcoin/wallet/Bitfinex-coldwallet

[greensheep]

hello bitcoin people  


I have a question.  A lot of people talk about EMA  or MA,  I have found these options on Cryptowatch charts and bitcoinwisdom charts.  But how to i see the 20 or 50 day version of the trend.  hope some people can help me.

Just enter the number of days 20, 50, 100, ....

[Phil_S]

I get me one of these and one of V8's.

At the same time?

[Last of the V8s]

[realr0ach]

^Plz no flat mooners.

[d_eddie]

I get me one of these and one of V8's.

At the same time?

Not necessarily... but you did give me a nice idea, thanks Phil!