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

[LFC_Bitcoin]

While a VIX index for Bitcoin is intellectually interesting, I’m not touching that with a 10 foot punting pole

FTFY

[realr0ach]

I have seen so many people get introduced to Bitcoin and then blow up on shitcoins it’s not funny.  

It's because there's no basis for any type of price floor or fair value for any imaginary, valueless, digital token besides $0, so their buy in time always has an enormous chance of failure.  The only thing setting Bitcoin apart would be a pseudo, temporary, sunk cost fallacy price floor provided by the hardware and production cost of the centralized ASIC monopolies.  GPUs are migratory and can always leave to a different coin, but the centralized ASIC monopolies are mostly stuck to a particular one.  

The ASIC cartel monopolies are then 'on your team' so to speak, always trying to rig the price as high as possible to gouge as many people as possible, and to prevent it from going below their cost of production and blowing up their monopoly business.  As you can see, the complete centralization of Bitcoin into a monopoly cartel is one of the main reasons for it's high price.  It has zero fundamentals due to the centralization and will eventually implode to nothingness because of it, but in the short term it was beneficial to price (manipulation).  

[realr0ach]

I sold my NEM stake at a 10x profit when I really should have held out for a 500x profit

A coin that is used for absolutely nothing - just like all craptocurrencies - and it's market cap is $600 million dollars with a buy side of 19 BTC.  That's how you can easily tell digital tardcoins are still in an enormous bubble.  After the bubble implodes, it will either have no buy side at all, or the same 19 BTC buy side, just at a market cap of like $6 million or less.  Will BTC also lose two zeros?  Tune in to find out!

[El duderino_]

I sold my NEM stake at a 10x profit when I really should have held out for a 500x profit

A coin that is used for absolutely nothing - just like all craptocurrencies - and it's market cap is $600 million dollars with a buy side of 19 BTC.  That's how you can easily tell digital tardcoins are still in an enormous bubble.  After the bubble implodes, it will either have no buy side at all, or the same 19 BTC buy side, just at a market cap of like $6 million or less.  Will BTC also lose two zeros?  Tune in to find out!

More likely to gain a few zero’s and believe me i’m tuned in

[Cryptotourist]

So is r0achie, he's a hodler/miner/trader you know.

Never mind his daily FUD job.

[realr0ach]

Disregard shitcoins.  Acquire physical silver.

[BitcoinGirl.Club]

Good morning WOland!

[gallianooo]

I have seen so many people get introduced to Bitcoin and then blow up on shitcoins it’s not funny.

Bitcoin maximalist survivors have to be 5%. 

I made and lost a pretty decent fortune on shitcoins... I sold my NEM stake at a 10x profit when I really should have held out for a 500x profit. Then I've lost wallets containing what is now the equivalent of ~$100k in various altcoins. I can look up my addresses and see the balances just sitting there, mocking me for not making additional backups.

Most recently, I had my laptop stolen, which contained about $50k worth of various coins. I made backups of the private keys on a USB, but at the time the USB was in the laptop case, which was also stolen, so... Kind of knocked the wind out of my sails coins-wise.

I'm pretty certain that the altcoin run from 2015-2018 will never happen again, just as the bitcoin run from 2011 to 2014 will never happen again.

Don't need a run of 2011-2014 for BTC to go until 100K$+

Don't need a run like 2015-2017 neither.


For the Alts, It is a different story.

But if you think that BTC will go above 20K$ (ATH), then the discovery price can be anything from 50 to 200K++ before big correction.

The alts Bubble's/run will happen again, till we will stay in a early adoption/stage (and until some projects will be definitely dead). OR you think that BTC will go and stay at 90%+ dominance, but I have really doubt about this.

[BitcoinGirl.Club]

Disregard shitcoins.  Acquire physical silver.

I am afraid of the weight 🤪

[realr0ach]

Disregard shitcoins.  Acquire physical silver.

I am afraid of the weight 🤪

Disregard Vitalik aesthetics.

[serveria.com]

Interesting if say LFC or Mic would sell all their btc now (hypothetically) and convert it to silver where would they keep all that silver? They would probably need a separate room at the very least. Maybe even a separate building or keep it in a bank vault?  

Cashing out or relocation would then require a semi truck to carry out 

[nutildah]

Don't need a run of 2011-2014 for BTC to go until 100K$+

Don't need a run like 2015-2017 neither.

That's kind of my point...

On January 1st, 2011 the price of BTC was $0.30
On January 1st, 2014 the price of BTC was $747

That's a 2,490x gain.

If BTC did that from now over the next 3 years, that would make it about $24.4 million a coin by 7/26/2022.

Don't think any of us are holding out for that type of gain!

The alts Bubble's/run will happen again, till we will stay in a early adoption/stage (and until some projects will be definitely dead).

I'm not so sure it will. Some alts will be carried by their own merit and ability to prove themselves as penetrating mainstream adoption, but we definitely won't have a situation like 2017 where any old shitcoin, coins like CLAMS and TIT, are skyrocketing thousands of percent.

[fillippone]

A message of hope from @100TrillionUSd:

https://twitter.com/100trillionUSD/status/1154712314995781634?s=20

#bitcoin bull markets seem to start at difficulty bottoms.

We saw difficulty bottoms (miner capitulation) in Dec 2011 ($4.6), May 2015 ($230) and Dec 2018 ($3691). Price continues to rise from these bottoms until ATH around 100x .. implying a continuing uptrend until $370K ATH.

[gallianooo]

Don't need a run of 2011-2014 for BTC to go until 100K$+

Don't need a run like 2015-2017 neither.

That's kind of my point...

On January 1st, 2011 the price of BTC was $0.30
On January 1st, 2014 the price of BTC was $747

That's a 2,490x gain.

If BTC did that from now over the next 3 years, that would make it about $24.4 million a coin by 7/26/2022.

Don't think any of us are holding out for that type of gain!

The alts Bubble's/run will happen again, till we will stay in a early adoption/stage (and until some projects will be definitely dead).

I'm not so sure it will. Some alts will be carried by their own merit and ability to prove themselves as penetrating mainstream adoption, but we definitely won't have a situation like 2017 where any old shitcoin, coins like CLAMS and TIT, are skyrocketing thousands of percent.

CLAMS is a very bad example because 80/90% of the tokens are owned by the team..

I don't think as well that ALL shitcoins will grow 1 000% or 10 000% during the next alts bubble, but some of them probably.

[LFC_Bitcoin]

Interesting if say LFC or Mic would sell all their btc now (hypothetically) and convert it to silver where would they keep all that silver? They would probably need a separate room at the very least. Maybe even a separate building or keep it in a bank vault?  

I just googled, silver in the UK seems to be £420 ish for 1KG so yeah I think all of us would need a large space to convert our HODL stash into silver.

It’s be a lot easier to keep physical gold at £37,000 per kilo.

I won’t lie, there is something mesmerising about physical gold. I can imagine walking into a room stacked high with physical gold bars & being amazed.

I much prefer my chances of immense wealth through bitcoin though.

[serveria.com]

Interesting if say LFC or Mic would sell all their btc now (hypothetically) and convert it to silver where would they keep all that silver? They would probably need a separate room at the very least. Maybe even a separate building or keep it in a bank vault?  

I just googled, silver in the UK seems to be £420 ish for 1KG so yeah I think all of us would need a large space to convert our HODL stash into silver.

It’s be a lot easier to keep physical gold at £37,000 per kilo.

I won’t lie, there is something mesmerising about physical gold. I can imagine walking into a room stacked high with physical gold bars & being amazed.

I much prefer my chances of immense wealth through bitcoin though.

I can imagine expression on a burglar's face when he would enter such a gold-filled room

[LFC_Bitcoin]

Interesting if say LFC or Mic would sell all their btc now (hypothetically) and convert it to silver where would they keep all that silver? They would probably need a separate room at the very least. Maybe even a separate building or keep it in a bank vault?  

I just googled, silver in the UK seems to be £420 ish for 1KG so yeah I think all of us would need a large space to convert our HODL stash into silver.

It’s be a lot easier to keep physical gold at £37,000 per kilo.

I won’t lie, there is something mesmerising about physical gold. I can imagine walking into a room stacked high with physical gold bars & being amazed.

I much prefer my chances of immense wealth through bitcoin though.

I can imagine expression on a burglar's face when he would enter such a gold-filled room

You’d need a truck & multiple man gang to shift this, wouldn’t be quick either.



Is this pic r0ach porn?

[gentlemand]

I can imagine walking into a room stacked high with physical gold bars & being amazed.

I'd be perfectly content with a few lumps of wood painted in a convincing manner. And when society collapses it'll have an actual use in keeping me warm.

[realr0ach]

You shitcoiners don't seem to understand where Bitcoin price growth originates from:  expansion of mining and the artificial scarcity Ponzi known as halvings.  The price cannot go to a zillion dollars each while cost of production to mine a Bitcoin is $3k.  The second there's a large disparity in market price and production price, all the miners immediately dump, as well as most speculators that keep tabs on things like this.

Unlike previous pump and dumps, in the last pump and dump to $20k, there was no real expansion of mining in response to the price so mining appears to be peaking out.  Mining obviously cannot expand forever, so I don't know why anyone would find it shocking Bitcoin reaching peak mining an entire 10 years after release.  For the price of Bitcoin to go to $100k, mining would need to expand more than 10x higher than it already is and Bitcoin would probably use more power than the entire United States.  It ain't happening.  Bitcoin's main driver of price - mining expansion - is now gone.

[gallianooo]

You shitcoiners don't seem to understand where Bitcoin price growth originates from:  expansion of mining and the artificial scarcity Ponzi known as halvings.  The price cannot go to a zillion dollars each while cost of production to mine a Bitcoin is $3k.  The second there's a large disparity in market price and production price, all the miners immediately dump, as well as most speculators that keep tabs on things like this.

Unlike previous pump and dumps, in the last pump and dump to $20k, there was no real expansion of mining in response to the price so mining appears to be peaking out.  Mining obviously cannot expand forever, so I don't know why anyone would find it shocking Bitcoin reaching peak mining an entire 10 years after release.  For the price of Bitcoin to go to $100k, mining would need to expand more than 10x higher than it already is and Bitcoin would probably use more power than the entire United States.  It ain't happening.  Bitcoin's main driver of price - mining expansion - is now gone.

As for the 2013 ATH or the 2017 ATH, you forget an essential point : THE DISCOVERY PRICE when you surpass a previous ATH

There is no rationality here, so we really don't care about the mining price or the electricity consumption because this is not the point during this type of market cycle (bullrun / parabolic)