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

[Gyrsur]

Welcome back $8k

I LOVE IT

[Gyrsur]

1 BTC =
* by reading this post the permission of further design updates will be granted

[600watt]

Welcome back $8k

since when are you a bitcoin monotheist? was exploring bitcoin maximalism, proceeded with bitcoin monoganism and finally arrived at bitcoin monotheism.

bitcoin monotheism is underrated. can´t wait for bitcoin crusades and ultimately bitcoin inquisition. burn the heretics!

   Thou shalt have no other coins before me

[Globb0]

Wow! Polo clipped 16% from every btc lending account because of a margin loss in some altcoin.
https://www.reddit.com/r/Bitcoin/comments/bxkd6o/poloniex_btc_margin_lending_pool_losses/

What's most astonishing is how folk are still willing to lend their coin on these exchanges for next to nothing. What does it mean to make 3% or less interest per year if you're going to face random 16% or more haircuts?

For 3% per year, I'd trust stock brokerages a little bit more than crypto exchanges. Say what you will about fiat and regulations, but those things are insured.

Shit its 4% just having it on Freebitco.in

[El duderino_]

While Warren Buffett was busy virtue signaling over Bitcoin, he was also investing hundreds of millions of dollars in an actual Ponzi scheme 😭

https://twitter.com/apompliano/status/1136811238070132736?s=21

Lol

[Cryptotourist]

Morningzzz!

I hope you are all well.
I've lost track of WO the last few days & suspended all activities - most likely for the rest of the month.

Back HOME:



Very oxymoron what's going on here, but I'm still a young soul.

[BitcoinGirl.Club]

Good morning WO brothers
Continuing my early bird habit although today 3 hours late from my expectation.

Anyway observing @ $8,001

[BitcoinGirl.Club]

While Warren Buffett was busy virtue signaling over Bitcoin, he was also investing hundreds of millions of dollars in an actual Ponzi scheme 😭

https://twitter.com/apompliano/status/1136811238070132736?s=21

Lol

He bashes bitcoin because he fears it

https://twitter.com/CryptoManiaks/status/1136811577766797313

[Cryptotourist]

Welcome back $8k

I LOVE IT

I'll try to make a unique one for you guys one of these days.

Meanwhile, music please!!!

https://soundcloud.com/nifunifarecords/holed-coin-words-and-smilesoriginal-mixcoming-out-soon

[toknormal]

General rule:

The higher bitcoin goes in value, the more of its market share is captured by altcoins.

[BitcoinGirl.Club]

Ah! After a long break. My morning smells good 🤪

[nutildah]

General rule:

The higher bitcoin goes in value, the more of its market share is captured by altcoins.

Yeah, that's because bitcoin is the rising tide that lifts all shitty ships. While your statement generally holds true, I think you meant to post it in another section and in another thread... unless you are fond of verbal abuse, that is.

[toknormal]

Yeah, that's because bitcoin is the rising tide that lifts all shitty ships. While your statement generally holds true, I think you meant to post it in another section and in another thread... unless you are fond of verbal abuse, that is.

No, I meant to post it in this thread, despite the customary "verbal abuse" as you say, because it demonstrates the principle that the "shitty ships" and bitcoin relationship is symbiotic as I've been pointing out for a few years now. The "shitty ships" buttress bitcoin's rise like the legs of the Eiffel tower so it can go higher. It would never have reached this level without the emergence of the altcoin market.

At a mature valuation, BTC dominance should be between 10% and 20%.

[nutildah]

Yeah, that's because bitcoin is the rising tide that lifts all shitty ships. While your statement generally holds true, I think you meant to post it in another section and in another thread... unless you are fond of verbal abuse, that is.

No, I meant to post it in this thread, despite the customary "verbal abuse" as you say, because it demonstrates the principle that the "shitty ships" and bitcoin relationship is symbiotic as I've been pointing out for a few years now. The "shitty ships" buttress bitcoin's rise like the legs of the Eiffel tower so it can go higher. It would never have reached this level without the emergence of the altcoin market.

At a mature valuation, BTC dominance should be between 10% and 20%.

Bitcoin is the least risky investment in a high risk investment category. Its health does not depend on altcoins, but rather the health of altcoins depend on it. When bitcoin rises, it is considered to be an indicator that investor appetite for risk is on the increase, and that trickles into altcoins, which are the highest risk investments. When bitcoin falls, the converse is true, and altcoins sink accordingly.

If BTC dominance falls to 10-20%, it will mean that cryptocurrency as a whole is flourishing and has found niches among the general public. However, if BTC continues to rise and its dominance rate remains roughly the same, it will mean the general public is rejecting altcoins in favor of bitcoin, which was the case through the first couple months of the year. Either way, the price of BTC is not dependent on altcoins. It definitely has a unilateral, causative effect on altcoins.

[fillippone]

[SNIP]


You are so sophisticated. I like you very much. 

I like Dakt Punk very much (one of the very few French products I like), and Giorgio Moroder is half Italian half German just like you (He comes from a small town in the Alps where I used to go skiing).

I reciprocate your sentiments, not homo.

If I had a choice, I would like to have my sentiments reciprocated by her:

[serveria.com]

So we're back to ~$8k... where are all the dipshits with their $6k predictions? stillwaiting.png  

[toknormal]

Bitcoin is the least risky investment in a high risk investment category. Its health does not depend on altcoins, but rather the health of altcoins depend on it.

This is not true and is a widely held myth amongst so called "maximalists" who tend to view the market through the arbitrary lens of a single asset - commonly known as the "monopolist" view.

Diversity in the asset class has pulled in demand out of proportion to the growth in supply or the effect of internal competition. That's not uncommon in economies.

I once lived in a street which had 1 coffee shop. The price of a cup of coffee was about the average for a residential area. Later another one appeared, then a restaurant. Over the years (about 2 decades) the number of coffee shops/bars increased to around 20-30. The price of a cup of coffee is now about 50% above that in other areas. A glass of wine is about 2-3 times the price.

The influence of "competition" worked in reverse because the aggregate impact it had on "selling the street" as an attractive area to visit far outweighed the adverse effect of internal competition amongst commercial outlets trading at that site.

That's what's happening with the crypto-asset market and is also why bitcoin depends on altcoins as much as they depend on it. Without technologically superior hedges, supporting trading pairs, diversified access to the crypto-asset markets, financial specialisation and derivative platforms, bitcoin itself would never have seen the growth it has.

[examplens]

So we're back to ~$8k... where are all the dipshits with their $6k predictions? stillwaiting.png  

I have two very smart friends. One says BTC going under $7k, while another claimed $8k+.
one of them is always right.  

[nutildah]

Bitcoin is the least risky investment in a high risk investment category. Its health does not depend on altcoins, but rather the health of altcoins depend on it.

This is not true and is a widely held myth amongst so called "maximalists" who tend to view the market through the arbitrary lens of a single asset - commonly known as the "monopolist" view.

Diversity in the asset class has pulled in demand out of proportion to the growth in supply or the effect of internal competition. That's not uncommon in economies.

I once lived in a street which had 1 coffee shop. the price of a cup of coffee was about the average for a residential area. Later another one appeared, then a restaurant. Over the years (about 2 decades) the number of coffee shops increased to around 30. The price of a cup of coffee is now about 50% above that in other areas. A glass of wine is about 2-3 times the price.

The influence of "competition" worked in reverse because the aggregate impact it had on "selling the street" as an attractive area to visit far outweighed the adverse effect of internal competition amongst commercial outlets trading at that site.

That's what's happening with the crypto-asset market and is also why bitcoin depends on altcoins as much as they depend on it. Without technologically superior hedges, supporting trading pairs, diversified access to the crypto-asset markets, financial specialisation and derivative platforms, bitcoin would definitely not have seen the growth it has.

Crypto is not coffee. Coffee isn't used as a currency, or for anything else other than as a beverage. Just because 1 street in 1 town saw an influx of coffee shops, it doesn't mean the phenomena can be applied on a global scale. Outside of speculation, real-world adoption is what drives crypto prices and ultimately their success. You basically just restated your assertion after giving a metaphor that doesn't apply to crypto.

[fragout]

weekend pump me thinks.
Stamp buy orderbook jumped by $20 million overnight from $67m to $87m