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

[kenzawak]

We can always start flagging people for posting ludicrous analyses or statements in general that we don't like.

Ok, who do we start with ?

[1713528506]

1713528506

[1713528506]

1713528506

[1713528506]

1713528506

[1713528506]

1713528506

[1713528506]

1713528506

[d_eddie]

Good morning brothers

The new flag system: https://bitcointalk.org/index.php?topic=5153344.0

New dimension of the forum 🤪

That's more like it. I think Theymos did a good job.

TL;DR Trust for trades, flags for marking jerks. Good.

[_javier_]

Dammit Honey Badger!! Eat that 8k once and for all!!

go BTC, go!

[realr0ach]

That's more like it. I think Theymos did a good job.

TL;DR Trust for trades, flags for marking jerks. Good.

The prime example that the merit system is a joke and serves no purpose is the fact JayJuanGee has a high level of merit.  None of those systems promote any honest or factual level of discourse.  All it is is someone posts "HURRR Bitcoin will go to $5 trillion each by tomorrow" then waves of mindless scammers give him +merit.  Things like merit, flags, and everything else are then nothing more than gauging who is most heavily pump and dump shilling.  This is why people like Trollgoossens have high merit as well, for doing nothing more than pump and dump shilling.

[El duderino_]

New poll!

I gone for $8,751-$9,000

Good choice, so did I.

Going to catch Dark Phoenix in a bit, hope its good.

The last few were just not up to the bar they have set themselfs at.

It's shit. She's scarier than Thanos!

Mmm it was better then I expected ...

[Last of the V8s]

1. Thank fuck for that.
2. Fuck this shit.
3. I fucking told you so.
4. ??
5. Carry the fuck on.

[LFC_Bitcoin]

$8,000 really is a psychological resistance point isn’t it. Be interesting to see how long we struggle to break above & stay there.

[El duderino_]

love how no one ever knows where the hairyfairy comes from
some say he's a yank
some say he's a limey
i think he must be a kiwi
whaddayagonnado

A New Yorker! imo

[El duderino_]

$8,500 by the end of this week, I’m calling it now. Strap yourselves in!

Signed and sealed, Lets get this going the upcoming days.

I'm definitely feeling this one, the 7600-8000 is overdone time to move up and on.

Indeed feel the same way

[vroom]

1. Thank fuck for that.
2. Fuck this shit.
3. I fucking told you so.
4. ??
5. Carry the fuck on.

the meaning of the word fuck: https://www.youtube.com/watch?v=usQ4r_YGr7Q

[El duderino_]

Of course, with the passage of time, the number of eligible DT1 is going to go up as more and more members update their trust lists, so at some point in the likely relatively near-term future, eligible DT1 members are going to have less than 50% chance of actually being included in DT1 for any particular month.  

Damn still no replenish of my first spendings ....

+1 for this amazing pic lol'ed

[fillippone]

According to Grayscale, many investors are not aware of the bitcoin block reward halving.
As such, it still remains a key factor for the price and it is not completely priced in.

"We were surprised to learn that many of them were not even aware of this event." (Grayscale)

https://twitter.com/iamjosephyoung/status/1136949078879744000

This is both interesting but also scaring:

Interesting because there was a lot of debate if the recent price action was due to markets being efficient with people pricing in halving effect before halving actually happening. Public information being incorporated in current market prices is what characterise efficient markets. Something should be granted in a mature market like the one bitcoin begins to be.

This is also scaring because grayscale targets institutional investors. I would have tough this kind of investors had done the basic due diligence of the technology. How can be prepared to invest millions in BTC without even knowing what an halving is?
This is scary. They are ready to invest in something they basically don’t know about.

There was a lot of chatter recently about Litecoin halving, it is going to happen in less than two months.

The story goes something like this (bot voice mindlessly reading the following strategy):

Code:

LTC is going to halve in 50 or so days, so it is going to have a huge price jump.
This is also going to bode well for bitcoin that is going to have in a little less than a year!
History is going to repeat!

Well, I would like to thing it is going according to plan, but i have a few toughs to share with you guys.

1. Bitcoin Halving rationale has to do with Stock to flow: as Bitcoin supply will suddenly reduce, there will be an imbalance with demand in bitcoin and the price will go up. Also stock to flow will rise, and bitcoin will become suddenly more scarce: then price will go up.

Well we have two propositions here, and no one will go as planned:

• LTC is not experiencing any demand like Bitcoin (e.g. Square or GBTC buying bitcoins): hence even halved offer will be sufficient to cover demand, without any actual impact on prices.
  
• Stock to flow models simply don't work for LTC. PlanB has some evidence on this fact:
  
  https://twitter.com/100trillionUSD/status/1137352369321234432
  
  
  
  

  Per request and despite the fact that I think that alts theoretically don't have 'unforgeable costliness' .. I decided to make a #Litecoin #LTC stock-to-flow model (data from Sep 2013). R2 is low .. 25%. Current S2F value is $27 (after 2019 halving $65). Can somebody pls verify?!
  

2. LTC is now a shitcoin like may other, gone are the times when it was seen "as Silver to Gold as Litecoin to Bitcoin". Book and liquidity is very thin, so very easy to price manipulate, to create price patterns people looking at. Once you made people think some kind of fuckery will happen when bitcoin halves, then taking profit on the back of such people is very trivial.

So take care if you want to use this argument to support your positions.

[El duderino_]

I thought the same about Toxic...

Who seems to have taken our leave...

First the Mayor, now this...it's really bumming me out

I'm bummed out about Toxic, too. Now I am going to have to find someone else to dump 50 merits on per month.

Bwaaa I will apply for the job, if you really need someone

[El duderino_]

Colonoscopy completed. Medium sized polyp detected and removed. Biopsy report in 1 week. Expecting benign results.

Take care of your assholes, brothers.

My brother, my exit of body place is a well respected and always kept clean place, I do take care of that area

[realr0ach]

Looks like he's trying to help reduce the drama that has been the pissing match of the trust system

You mean how Lauda & Last of the V8s started abusing the trust system that's supposed to be for things like trades and instead made up random nonsense and left negative scores on people who they disagree with but have never actually traded with?  I especially loved the negative trust score for Jbreher for simply owning Bcash HAHA.  What a fucking effeminate, jackass female move that is.  

Digital shitcoins are not money, or commodities, or resources.  They're simply Keynesian scams based on artificial scarcity with no valid Schelling point.  You cannot force people to buy the scam token you created out of thin air instead of them just doing the same thing and creating another one out of thin air that benefits themselves instead.  But nobody can create a new silver or gold in their basement like you can with shitcoins, which is why metals are money and shitcoins aren't.

[D. Lerk]

Colonoscopy completed. Medium sized polyp detected and removed. Biopsy report in 1 week. Expecting benign results.

Take care of your assholes, brothers.

My brother, my exit of body place is a well respected and always kept clean place, I do take care of that area

Talk about shit posting...

[LFC_Bitcoin]

Colonoscopy completed. Medium sized polyp detected and removed. Biopsy report in 1 week. Expecting benign results.

Take care of your assholes, brothers.

My brother, my exit of body place is a well respected and always kept clean place, I do take care of that area

Got my two year old niece, in a pub having dinner. Her exit of body place just farted on my arm 

[realr0ach]

Stock to flow models simply don't work for LTC. PlanB has some evidence on this fact:

"Stock to flow" doesn't work on ANYTHING that's not a real commodity or resource.  You can hoard all 21 million Bitcoins and the rest of the world can completely ignore you like you don't exist because NOBODY actually needs Bitcoins for anything.  It's a fake, imaginary commodity aka a Keynesian scam.  If I hoard all the physical silver in the world, people actually need it for things, the stock to flow metrics actually do function, and I get to charge whatever the market will bear.  A real commodity money grants you power, a fake commodity grants you zero.

[Totscha]

Colonoscopy completed. Medium sized polyp detected and removed. Biopsy report in 1 week. Expecting benign results.

Take care of your assholes, brothers.

My brother, my exit of body place is a well respected and always kept clean place, I do take care of that area

Talk about shit posting...

Merited for achievements in irony...

[fillippone]

Colonoscopy completed. Medium sized polyp detected and removed. Biopsy report in 1 week. Expecting benign results.

Take care of your assholes, brothers.

My brother, my exit of body place is a well respected and always kept clean place, I do take care of that area

Talk about shit posting...

Merited for achievements in irony...