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

[jojo69]

I'll leave the panty wearing to the lefties.

Don't knock it 'till you've tried it.

[dyask]

You think the present day power consumption of Bitcoin can increase by two orders of magnitude?  HAHAHAHAHA.

Over time the block rewards will decline and miners will also actually use less power but the cost for the hardware will probably be more of a factor than the cost of power at some point.   However when it comes to the amount of power that can be used ... considering that current world's power requirements could be handled with less than 120,000 sq km of solar panels ... at growth of 100x power use for bitcoin over the next 100 years won't be an issue.   Like metals, energy is actually in abundance, we just haven't had the technology in place to use it.   (120k sq km is about 0.024% of the earth's surface area, I just showing how little of our available power we actually use.  Solar is only one technology, fusion based power plants could exist 100 years from now.)  

A few years ago I really thought power would be a problem, but then I started doing some computations.   Energy isn't the issue, technology and politics are the issues.   However since bitcoin depends more on networks than location, politics can be bypassed.    

[eddie13]

It kind of pissed me off. I was taking my sweet ass time accumulating in the $3K-$4K range. I assumed we'd probably still be there now.

I only ended up re-buying half of what I had originally planned

#shakeout

[VB1001]

So apparently there are only 70 days that Bitcoin has been unprofitable to buy. This means that if you you’ve bought Bitcoin at any random point in time there a 98.17% chance that you’re profitable!

https://twitter.com/AltcoinSara/status/1144650654662758400

I like it, the first coffee of seeing this graphic.

Good morning WO,s

[JayJuanGee]

IMO moon and $13,800 was not the top. Follow 3 day RSI and look for a top to form when 3 day RSI is over 90. I believe $10,300 was the local bottom.

It's truly jaw-dropping to think we may never see four digits again. Everybody thought there'd be copious time to accumulate... nope.

Hhahahahaha

Gotta get in while the getting is good... can't be waiting around for a lower price.

Of course, you can buy more if the price goes down, but you should not be diddally daddaling around attempting to time lower prices.

I think that Mindrust was a decent example, at least he seemed to be buying on an ongoing basis - even though it was painful.

Part of his problem, recently is that he sold some BTC with some kind of expectation to buy back lower, which is NOT how we should be playing this game when we are in an accumulation phase.  Once we pass the accumulation phase, we can become a bit more reckless and risk-taking.. but even folks like me don't tend to sell on the way down.. I just sell on the way up and buy on the way down..

[mersal]

So apparently there are only 70 days that Bitcoin has been unprofitable to buy. This means that if you you’ve bought Bitcoin at any random point in time there a 98.17% chance that you’re profitable!

https://twitter.com/AltcoinSara/status/1144650654662758400

I like it, the first coffee of seeing this graphic.

Good morning WO,s

Downloaded this pic.

And will show it to everyone who says bitcoin is the most risky thing to invest.

Will be better we can have some comparision like this to gold since we had bitcoin.

Possible?

[jojo69]

this is perfect

[deepcolderwallet]

Does anyone want to have a local copy of this thread? I could compress all pages into a downloadable file, so you can search the raw HTML for old posts.

How big would that be? Put it in the BSV blockchain, they have gigabyte blocks. The only other thing there are weather stuff.

You're evil!

[alevlaslo]

Altcoins will disappear because bitcoin can do anything and they do not make sense. Only BSV will remain because this is the version of bitcoin with a large block that is needed

[becoin]

Good news-it would mean unbelievable prices ahead (300K-500K)

You braindead, idiot scammers in this thread have NEVER once explained how the price of Bitcoin can go to $500k or even $50k while cost of production is $3-6k. 

The cost of production of $100 bill is $0.18. The cost of production of digital $ tokens is virtually zero, just a few key strokes on the keyboard. Well, who is the braindead idiot scammer in this thread?

[Saint-loup]

You think the present day power consumption of Bitcoin can increase by two orders of magnitude?  HAHAHAHAHA.

Over time the block rewards will decline and miners will also actually use less power but the cost for the hardware will probably be more of a factor than the cost of power at some point.   However when it comes to the amount of power that can be used ... considering that current world's power requirements could be handled with less than 120,000 sq km of solar panels ... at growth of 100x power use for bitcoin over the next 100 years won't be an issue.   Like metals, energy is actually in abundance, we just haven't had the technology in place to use it.   (120k sq km is about 0.024% of the earth's surface area, I just showing how little of our available power we actually use.  Solar is only one technology, fusion based power plants could exist 100 years from now.)  

A few years ago I really thought power would be a problem, but then I started doing some computations.   Energy isn't the issue, technology and politics are the issues.   However since bitcoin depends more on networks than location, politics can be bypassed.

Ok but I think nobody cares about the price in one century or even 2 or 3 decades. We are talking about the price in few years/months here.

[JayJuanGee]

You think the present day power consumption of Bitcoin can increase by two orders of magnitude?  HAHAHAHAHA.

Over time the block rewards will decline and miners will also actually use less power but the cost for the hardware will probably be more of a factor than the cost of power at some point.   However when it comes to the amount of power that can be used ... considering that current world's power requirements could be handled with less than 120,000 sq km of solar panels ... at growth of 100x power use for bitcoin over the next 100 years won't be an issue.   Like metals, energy is actually in abundance, we just haven't had the technology in place to use it.   (120k sq km is about 0.024% of the earth's surface area, I just showing how little of our available power we actually use.  Solar is only one technology, fusion based power plants could exist 100 years from now.)  

A few years ago I really thought power would be a problem, but then I started doing some computations.   Energy isn't the issue, technology and politics are the issues.   However since bitcoin depends more on networks than location, politics can be bypassed.

Ok but I think nobody cares about the price in one century or even 2 or 3 decades. We are talking about the price in few years/months here.

I am planning to be dead in about 3-5 decades (and that is being very charitable regarding my longevity)...

So, yeah, starting to cash out some in a few years might be a good plan.. .that way can enjoy some of it.. and spread it to some others.

[mersal]

Altcoins will disappear because bitcoin can do anything and they do not make sense. Only BSV will remain because this is the version of bitcoin with a large block that is needed

Just made me fell down while laughing at this.
via Imgflip Meme Generator

Its nothing but a sarcasm.

[vroom]

Btw Micg is emotional.... gotta pick up my queen in a few hours from now !!!!!

the 2 primary emotions of a man are hunger and horniness. 

[fillippone]

You think the present day power consumption of Bitcoin can increase by two orders of magnitude?  HAHAHAHAHA.

Over time the block rewards will decline and miners will also actually use less power but the cost for the hardware will probably be more of a factor than the cost of power at some point.   However when it comes to the amount of power that can be used ... considering that current world's power requirements could be handled with less than 120,000 sq km of solar panels ... at growth of 100x power use for bitcoin over the next 100 years won't be an issue.   Like metals, energy is actually in abundance, we just haven't had the technology in place to use it.   (120k sq km is about 0.024% of the earth's surface area, I just showing how little of our available power we actually use.  Solar is only one technology, fusion based power plants could exist 100 years from now.)  

A few years ago I really thought power would be a problem, but then I started doing some computations.   Energy isn't the issue, technology and politics are the issues.   However since bitcoin depends more on networks than location, politics can be bypassed.

Ok but I think nobody cares about the price in one century or even 2 or 3 decades. We are talking about the price in few years/months here.

I am planning to be dead in about 3-5 decades (and that is being very charitable regarding my longevity)...

So, yeah, starting to cash out some in a few years might be a good plan.. .that way can enjoy some of it.. and spread it to some others.

I saw a few studies of demographics of people entering bitcoin: young people in their 20’ s looking at crypto’s to invest their little savings: crypto can be to generation alpha (post 2000) what stock market has been to baby boomers.
Well your point is also interesting: early bitcoin adopters probably were in their 30’s. So their hodl won’t be indefinite, but they will start cashing out sooner or later. Also because they DO HODL massive amounts of Coins.

[El duderino_]

Btw Micg is emotional.... gotta pick up my queen in a few hours from now !!!!!

the 2 primary emotions of a man are hunger and horniness. 

Haha waiting at the AirPort as we write

2 emotions taking care of today

[JayJuanGee]

You think the present day power consumption of Bitcoin can increase by two orders of magnitude?  HAHAHAHAHA.

Over time the block rewards will decline and miners will also actually use less power but the cost for the hardware will probably be more of a factor than the cost of power at some point.   However when it comes to the amount of power that can be used ... considering that current world's power requirements could be handled with less than 120,000 sq km of solar panels ... at growth of 100x power use for bitcoin over the next 100 years won't be an issue.   Like metals, energy is actually in abundance, we just haven't had the technology in place to use it.   (120k sq km is about 0.024% of the earth's surface area, I just showing how little of our available power we actually use.  Solar is only one technology, fusion based power plants could exist 100 years from now.)  

A few years ago I really thought power would be a problem, but then I started doing some computations.   Energy isn't the issue, technology and politics are the issues.   However since bitcoin depends more on networks than location, politics can be bypassed.

Ok but I think nobody cares about the price in one century or even 2 or 3 decades. We are talking about the price in few years/months here.

I am planning to be dead in about 3-5 decades (and that is being very charitable regarding my longevity)...

So, yeah, starting to cash out some in a few years might be a good plan.. .that way can enjoy some of it.. and spread it to some others.

I saw a few studies of demographics of people entering bitcoin: young people in their 20’ s looking at crypto’s to invest their little savings: crypto can be to generation alpha (post 2000) what stock market has been to baby boomers.
Well your point is also interesting: early bitcoin adopters probably were in their 30’s. So their hodl won’t be indefinite, but they will start cashing out sooner or later. Also because they DO HODL massive amounts of Coins.

Depending on our level of confidence, we can cash out in large chunks or incrementally... like my plan to cash out 1% per quarter.

However, if I have some emergency issues, I might feel it necessary to cash out more.  My cashing out will probably not be price dependent because I have a lot of cushion; however, my opinion now could be changed if I become no longer an accumulator and maintainer, but instead someone who is either regularly cashing out with a kind of passive income or if I also chose to delve deeper into cashing out some of the principle, too.

In either event, I still consider my beginning any kind of cashing out, whether lighter or heavier, to be at minimum a few years away... and most likely would start out as a kind of light and incremental cashing out rather than the heavier possible cashing out variation.

[El duderino_]

via Imgflip Meme Generator

Sweet 7’s

[jbreher]

Does anyone want to have a local copy of this thread? I could compress all pages into a downloadable file, so you can search the raw HTML for old posts.

How big would that be? Put it in the BSV blockchain, they have gigabyte blocks. The only other thing there are weather stuff.

Don't mean to get technical on you all the sudden by I was looking into it the other day and as of right now its only possible to cram 100 KB of data into a single BSV transaction (or 4 JJG posts -- sorry JJG, you know I'm still a fan).

BSV has long had widely-distributed tools to split larger files into multiple txs, and concatenate them upon retrieval into original large files.

I would prefer my posts to not be broken up, otherwise they might be read out of context.  PLEASE tell craig.

I'm not in regular contact with Craig, so will be unable to pass along your request.

That said, these tools surrounding the SV protocol are standalone items created by unrelated individuals. So Craig is not involved in these. What's more, nChain is not involved. See, SV is a wonderously rich ecosystem of scads of unrelated parties all building atop Bitcoin.

Further, perhpas you missed where I clearly stated "... concatenate them upon retrieval into original large files"

[Cryptotourist]

Seriously jbreher, don't you ever get tired of this shit?