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

[HairyMaclairy]

Any of y'all ever get the uncanny feeling like the world -- the entirety of it -- has been created and scripted for the sole purpose to gauge how you yourself will react to it?

Yes.

But isn’t that what the whole alt-right NPC thing is about ?

[nutildah]

Not sure if it was paranoia, or arrogance, I was probably 6 years old - and daring god to prove he existed in my head.  I decided since he didn't strike me down, he didn't.

When I was in elementary school I went through a phase where I believed that the entire world was spying on me. I'm pretty sure that at some point everybody (well most liberated westerners with time to kill) contemplates whether or not the world revolves around them, and wonder if they may be the only real thing in the universe. Some have even developed philosophies around the concept, others movies.



After having your ass handed to you a few times though, it becomes apparent that we are all just typical spazzes, and that no one is actually that different from anybody else. We all exist, were born into this world crying and against our will, share 99.99% of the same DNA, and not one of us knows what the fuck we are actually doing here.

[fillippone]

EDIT: Started a thread dedicated to this topic:
https://bitcointalk.org/index.php?topic=5165037.msg51816698#msg51816698
so we don't get drowned in the tens of WO pages!




Market dominance is a shitty indicator, we all know why, and after Bitwise report we cannot ignore anymore his limitation, but, can still point in the right directions to intresting thoughts about market.

Market dominance just broke the peak during Dec '17 (price) ATH, and at 65,2% it is now at the highest levels since April 2017.



Another way of looking at the same phenomenon is the following: relative price movements of shitcoins versus BTC over the last 3M



1BTC=1BTC
Elsewhere: red, red everywhere.
Some obscure random shitcoin in the green, but just a statistical error, I guess.
This is truly remarkable.

In the past we saw BTC having a beta<1 (if you think at a CAPM middle), during bulls run alt rose more than bitcoin (volatility weighted) while in bear market alts downperformed BTC (alt lose more in bear market than BTC).
This time is different and in this market BTC is growing more than alts.

I propose three reasons why market dominance is going north, I ask you your toughs.

I list there in the order of market relevance, in my opinion:
 

• Technology has progressed, people studied and has understood better how cryptos work, so they came to the right conclusion shitcoins are indeed...shitcoins. Shitcoins value proposition has since faced and now they are clearly revealed for what they have always been: (kind of elaborate) exit scams by fraudster to transfer your bitcoin in their wallets.
• We are on the verge of an epochal bull run caused by institutional money on the brink on entering cryptocurrencies. Of course the main gateways for this to happen is Bitcoin. I can't see them diversifying their investment into other bitcoins in the near future both because lack of regulations, lack of liquidity and above all security and scrutiny on this coins.
• The more Bitcoin performs versus shitcoins, the more the random investors will be keen on buying bitcoins and abstain to shift to shitcoins, because Bitcoin IS the asset performing. SO kind of self-fulfilling mechanism/shelling point where you don't want to convert your bitcoin into other assets

What are your toughs?

[kurious]

Not sure if it was paranoia, or arrogance, I was probably 6 years old - and daring god to prove he existed in my head.  I decided since he didn't strike me down, he didn't.

When I was in elementary school I went through a phase where I believed that the entire world was spying on me. I'm pretty sure that at some point everybody (well most liberated westerners with time to kill) contemplates whether or not the world revolves around them, and that they may be the only real thing in the universe. Some have even developed philosophies around the concept, other movies.



After having your ass handed to you a few times though, it becomes apparent that we are all just typical spazzes, and that no one is actually that different from anybody else. We all exist, were born into this world crying and against our will, share 99.99% of the same DNA, and not one of us knows what the fuck we are actually doing here.

Totally agree - and the eventual knowledge that we are all individually trivial teaches us a little humility, which is a good thing.

[kurious]

Market dominance is a shitty indicator, we all know why, and after Bitwise report we cannot ignore anymore his limitation, but, can still point in the right directions to intresting thoughts about market.

Market dominance just broke the peak during Dec '17 (price) ATH, it is now at the highest levels since April 2017.



another way of looking at this is the following relative price movements of shitcoins versus BTC over the last 3M



This is truly remarkable.

A few days ago i proposed 3 three reasons why market dominance is going north, I ask you again your toughs.

I list there in the order of market relevance, in my opinion:
 

• Technology has progressed, people studied and has progressed in the understanding of the cryptos and came to the right conclusion shitcoins are indeed...shitcoins. Shitcoins value proposition has since faced and now they are clearly revealed for what they have always been: (kind of elaborate) exit scams by fraudster to transfer your bitcoin in their wallets.
• We are on the verge of an epochal bull run caused by institutional money on the brink on entering cryptocurrencies. Of course the main gateways for this to happen is Bitcoin. I can't see them diversifying their investment into other bitcoins in the near future both because lack of regulations, lack of liquidity and above all security and scrutiny on this coins.
• The more Bitcoin performs versus shitcoins, the more the random investors will be keen on buying bitcoins and abstain to shift to shitcoins, because Bitcoin IS the asset performing. SO kind of self-fulfilling mechanism/shelling point where you don't want to convert your bitcoin into other assets

What are your toughs?

My toughs? 

1. I think more non-retail money (increasing constituent, now) seeks the safer bet, along with the liquidity of the largest player / market in crypto.
2. The feedback loop.  As long as alts whither and dominance increases, it only reinforces the trend.  For now, at least.

[smartcomet]

Market dominance is a shitty indicator, we all know why, and after Bitwise report we cannot ignore anymore his limitation, but, can still point in the right directions to intresting thoughts about market.

Market dominance just broke the peak during Dec '17 (price) ATH, and at 65,2% it is now at the highest levels since April 2017.



Another way of looking at the same phenomenon is the following: relative price movements of shitcoins versus BTC over the last 3M



1BTC=1BTC
Elsewhere: red, red everywhere.
Some obscure random shitcoin in the green, but just a statistical error, I guess.
This is truly remarkable.

I propose three reasons why market dominance is going north, I ask you your toughs.

I list there in the order of market relevance, in my opinion:
 

• Technology has progressed, people studied and has understood better how cryptos work, so they came to the right conclusion shitcoins are indeed...shitcoins. Shitcoins value proposition has since faced and now they are clearly revealed for what they have always been: (kind of elaborate) exit scams by fraudster to transfer your bitcoin in their wallets.
• We are on the verge of an epochal bull run caused by institutional money on the brink on entering cryptocurrencies. Of course the main gateways for this to happen is Bitcoin. I can't see them diversifying their investment into other bitcoins in the near future both because lack of regulations, lack of liquidity and above all security and scrutiny on this coins.
• The more Bitcoin performs versus shitcoins, the more the random investors will be keen on buying bitcoins and abstain to shift to shitcoins, because Bitcoin IS the asset performing. SO kind of self-fulfilling mechanism/shelling point where you don't want to convert your bitcoin into other assets

What are your toughs?

Altcoiners have less bitcoin than 5 years before after traded the altcoins for years based on the 80/10/10 rule, then more and more bitcoins go to institutional investors and holders.

But if bitcoin dominace goes to 80% or more , maybe there will be a altcoin bull.

[Arriemoller]

three   whole   marijuanas  ??

I can't be sure I'm even alive and typing this post, to be honest with you.

Would a picture of my other leg help?

[machasm]

Not sure if it was paranoia, or arrogance, I was probably 6 years old - and daring god to prove he existed in my head.  I decided since he didn't strike me down, he didn't.

When I was in elementary school I went through a phase where I believed that the entire world was spying on me. I'm pretty sure that at some point everybody (well most liberated westerners with time to kill) contemplates whether or not the world revolves around them, and wonder if they may be the only real thing in the universe. Some have even developed philosophies around the concept, others movies.



After having your ass handed to you a few times though, it becomes apparent that we are all just typical spazzes, and that no one is actually that different from anybody else. We all exist, were born into this world crying and against our will, share 99.99% of the same DNA, and not one of us knows what the fuck we are actually doing here.

You must be over 30!
I don't think that this analysis dawns on you until reaching this age.
By the time your my age (ahem over 50) you just don't give a fuck.
Have a good weekend WO brothers.

[Arriemoller]

Any of y'all ever get the uncanny feeling like the world -- the entirety of it -- has been created and scripted for the sole purpose to gauge how you yourself will react to it?

When I was a kid, very young - yep.  I had a phase where I was convinced people (and things) only existed when I could see them. That is, that when someone left the the room, they disappeared.  It was all show, put on for me.

I think most people feel that at some point, mostly as kids. I had the feeling everything was a play, like a TV series and everybody around me was just acting. Like that movie, "Truman show" or something like that I think it was called.

[El duderino_]

I was just looking around and Damn ..... found some RL footage of BoB.....

[kurious]

(redacted)

Eek! Jeez, Mic...

[LFC_Bitcoin]

Moved a load of fiat from our business account to my personal account. Fuck the tax man, I’m ready to unload the clip & gobble up dat dip.

[El duderino_]

Hey guys. WO newbie here. I'm a crypto news writer and my most recent article was at least partially inspired by this thread. Just so you know I'm not a complete hack, I interviewed Elwar a while back about seasteading and bitcoin, before all the drama went down. I'm glad to hear that him and Nadia are doing good and even managed to tie the knot!

Anyway, I just thought you guys might enjoy this one. Its more or less about why BTC is doing good while alts are not. I suspect many of you feel strongly about this subject matter already, but you may enjoy it anyway. Would like to hear your thoughts.

https://coinclarity.com/all-hail-king-bitcoin-why-btc-remains-1/

Thanks and go bitcoin!

+1, currently out but not for long

[El duderino_]

(redacted)

Eek! Jeez, Mic...

It is what it is ...

[Globb0]

It feels so empty without us doesn't it ? No fomo, no hodl hodl all over the place.. No enthusiasm, no attraction, no desire , no newbies , no price changing investors, no love, no hate either.. I could go on, but when will ya realize ? =3 When we are gone?

Can you recommend any good delusional drugs?

[Negotiation]

I was just looking around and Damn ..... found some RL footage of BoB.....

GIF formate creatable BaBoo  

[El duderino_]

https://www.tijd.be/tech-media/technologie/libra-verloochent-de-ideeen-achter-cryptomunten/10144955.html
https://bitcointalk.org/index.php?topic=5156177.msg51800858#msg51800858


Just found this in my local boards... Its a newspaper piece, hope the translation is OK  (probably need to translate)

[vroom]

It feels so empty without us doesn't it ? No fomo, no hodl hodl all over the place.. No enthusiasm, no attraction, no desire , no newbies , no price changing investors, no love, no hate either.. I could go on, but when will ya realize ? =3 When we are gone?

Can you recommend any good delusional drugs?

I think ya fellas do not need anymore drugs, ya are drugged out enough already. So do not judge me by your way of junkie living because i do not belong in your junkie category.

says the man with the gas mask

[LFC_Bitcoin]

Stop engaging with the lunatic guys

[Cryptotourist]

Sooo, you come out of the blue asking strangers for life changing money for yourself & your buddies, with the promise of doing something you absolutely cannot do - no guaranties of it anyways - and we just have to believe you in good faith & give you all our hard earned money in a blink, just because you wore a gas mask & printed some dominoes.
Cherry topped with a deadline also.

Yes, we are truly lunatic.

Get lost.

#

Morning my WO brothers.
For the next 1000 posts I will try not to shit post as much.