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

[mindrust]

Found these here:
https://old.reddit.com/r/BitcoinMarkets/comments/d4vidn/daily_discussion_monday_september_16_2019/f0jny80/

Made sense to me:

[g-uid]

Of course you can mine "just 1 bitcoin".  It's called 'pool mining'.
... nobody would buy your $100k coin if they can mine one for $6k instead.  And mining is already too huge to increase by an order of magnitude or higher to buffer prices that elevated or it would use more power than the entire United States.

Have you tried it? Go ahead, pay $6k for just one bitcoin. It's the competitiveness of mining that requires huge capital outlay to even mine it at that price. That's why people are going to buy it at a higher price, because they'd rather not mine it. They'd rather get one and keep it, or get one and use it, but to be a miner is a different story. Miners will use up whatever power they can get and pay for. Power that eventually will go down in price and mining equipment that gets more efficient, even as the mining difficulty increases.

You can also try to pool mine, but I gather it's going to take a lot longer to get your 1 bitcoin, unless you have have a bunch of miners, either in your own space or hosted somewhere.

You hit the nail on the head. What r0ach is omitting is that whilst mining your own Bitcoin for $6k is possible, the length of time required to do so is extraordinary.

The Antminer s17e delivers 64TH/s for $2683.00: https://shop.bitmain.com/product/detail?pid=00020190909094751115TfQwEJfa06D7

It would take a year to pool mine a single Bitcoin with two of these units:

https://www.cryptocompare.com/mining/calculator/btc?HashingPower=128&HashingUnit=TH%2Fs&PowerConsumption=4000&CostPerkWh=0.1&MiningPoolFee=1

[Icygreen]

Probably not my most popular post.  Monday morning tinfoil truth seeking.

What is the probability that the US government’s big national secret is zero-point energy extraction?
If the military/government/TPTB have been engineering/reverse engineering energy and its applications in secrecy for 80+ years, would that undermine Bitcoin’s SOV and cryptographic security?  Surely the implications of such a technology are too vast to conceive.
I ask this question because energy is what BTC proposes to base sound money on. There's too many historical and theoretical examples of energy use on this planet to conclude that the current public/scientific understanding is complete.   I've not seen this argument debated however I understand its likely to be discarded to conspiracy for lack of proof even while the hard proof is literally in stone.  

Well, at least they seem to get political decision out of vacuum (inside trumps head)...

Irony off: Zero point zero.

So you're saying 0.0 chance we have any better understanding of energy beyond E=MC2 ? Or more simply, popular public understanding.

There is a better understanding. And E=mc^2 is only a partial of Einstein equation.
The better understanding lies in quantum mechanics. And yes zero-point energy is kind of an aether that could possibly be harvested for energy. However the EM-drive that attempted to harness it failed to do so.

And the other point I would like to make is that keeping that kind of shit secret for 50-80years is impossible.
If we get to know where Bill Clinton put his dick. Then knowing where the UFO'S are should be less of a leak....

Appreciate your comments and yet here we are: A 7+ billion civilization who are still puzzled by the immaculate works of our ancestor's of only several thousands of years. By the way, UFO's weren't kept secret, I mean any more secret than that of the world trade airplane crashes demolitions in 2001.

I'd be elated to read elsewhere if this isn't a topic for the WO. Any links to such conversations would be... meritable  

[Arriemoller]

Way better than this one:

Honey dear, you're supposed to lean forward.

[bluebits]

::Pretend to be Tera Post::

$8000 would be a target for any drop in the short term. It might not reach $5500 til later. If it goes into a 2011/2014 style extended bear market it could even reach $3000 after a year or two. Yes it could go higher first too. The lows arent based on the highs, they're based on previous ATH.

I picked 3K because it was the last significant horizontal support - the crash likes to end at previous horizontal supports (after wiping out 90% of gains). The support at $5K was too short and not low enough. I really wanted to pick the $2K support but because of how much Bitcoin has changed and matured yada yada and mainly because of how slow the rally has been, I'm ultra-generously giving it 3K. Its going to be phenomenal when we end ONLY at 3K at preserve an entire 200% gain like never before. Theres a small chance of 5K too, I guess, since there WAS a support there. I'd say it's dropping to AT LEAST 5K, PROBABLY 3K, and possibly 2K.

Correct

We're stalled because nobody is pumping the books with fat stacks of fiat.These are the same books that have been here for 2 or 3 weeks. Theyre actually smaller.

Bid has fully stalled out again and is now falling: Kraken lower now than at 4k, Bitfinex bid cloe to all time low, Bitstamp in decline since 8k

What if this the actually the end of a 9-year 3-bubble elliot wave and now a super bear market is coming?  First it would go down $3K as usual (wave A), then it would start rallying again and LOOK like this was the next big bubble (wave B), but around 8K it would fizzle out and proceed into wave C which could go back into low-mid triple digits

This appears to be happening, event sequence:

Price crashes to support at 3k
Whales frontrun the 'standard' 22 month pump cycle and expected halvening run
Everyone else piles in
Alts rotate into BTC to get it up even higher
Price fails below the ATH because this time, unlike all the other supercycles, something is missing >> there is no new money this time, no new countries, exchanges, groups of suckers to buy in.

Price now has to follow the standard crash model, the current descending triangle will break down to support at 7.x (soft) or 5.x (stronger), plenty of bull traps along the way down to grinding on solid support (3k)

[bkbirge]

I'd be elated to read elsewhere if this isn't a topic for the WO. Any links to such conversations would be... meritable  

http://www.calphysics.org/zpe.html

Quantum mechanics predicts the existence of what are usually called ''zero-point'' energies for the strong, the weak and the electromagnetic interactions, where ''zero-point'' refers to the energy of the system at temperature T=0, or the lowest quantized energy level of a quantum mechanical system.

https://www.quora.com/How-can-you-explain-zero-point-energy-to-a-non-physicist

Now, when non-physicists think of a vacuum they usually think of "empty space", without any particles. However, the fields are always there, even when they're not excited to a higher-energy state to create a particle. So a vacuum without any particles still has fields, they are simply not excited.

[mindrust]

You need to see this too:
https://www.tradingview.com/chart/BTCUSD/34ooDUHb-BTC-A-tale-of-two-pitchforks-and-a-Parabola/

Just click the play button. That guy is a genius.

See why is $10k acting like a damn fortress now?

[LUCKMCFLY]

Currently people in many countries are acquiring the knowledge necessary to operate with Bitcoin ...



When it comes to money, people learn faster, the demand for Bitcoin is growing every day and in countries with crises they take more advantage. Argentina, Venezuela are always the ones with more volumes in transactions with bitcoin.

[Lambie Slayer]

https://www.zerohedge.com/markets/three-jpmorgan-traders-charged-massive-gold-market-manipulation-fraud

Roach is gonna love this one.

[d_eddie]

Bart with no debart
Sunday in the countryside
didn't post haiku

[makrospex]

Probably not my most popular post.  Monday morning tinfoil truth seeking.

What is the probability that the US government’s big national secret is zero-point energy extraction?
If the military/government/TPTB have been engineering/reverse engineering energy and its applications in secrecy for 80+ years, would that undermine Bitcoin’s SOV and cryptographic security?  Surely the implications of such a technology are too vast to conceive.
I ask this question because energy is what BTC proposes to base sound money on. There's too many historical and theoretical examples of energy use on this planet to conclude that the current public/scientific understanding is complete.   I've not seen this argument debated however I understand its likely to be discarded to conspiracy for lack of proof even while the hard proof is literally in stone.  

Well, at least they seem to get political decision out of vacuum (inside trumps head)...

Irony off: Zero point zero.

So you're saying 0.0 chance we have any better understanding of energy beyond E=MC2 ? Or more simply, popular public understanding.

I am saying that the existence of zero-point energy doesn't make it usable in the thermodynamic realm.
Otherwise, i believe in using gravity (and thus tide) as practically "free" energy sources.

[Lambie Slayer]

http://charleshughsmith.blogspot.com/2019/09/the-black-swan-is-drone.html

"The mainstream media will be under permanent pressure to downplay the consequences of this attack, but the cat is out of the bag: the Black Swan is a drone. What was "possible" yesterday is now a low-cost proven capability, and the consequences are far from predictable.
This unpredictability alone should unsettle markets, as the risk of future asymmetric warfare drone strikes just increased to a degree that is difficult to measure or hedge."

Legacy markets vulnerable. Bitcoin not affected.

Tulsi keeping it real. https://www.mediaite.com/election-2020/tulsi-gabbard-destroys-trump-on-iran-threats-acting-like-saudi-arabias-btch-is-not-america-first/

[Wekkel]

::Pretend to be Tera Post::

[...]

Price now has to follow the standard crash model, the current descending triangle will break down to support at 7.x (soft) or 5.x (stronger), plenty of bull traps along the way down to grinding on solid support (3k)

I've been waiting for $8,500 forever. So it would only fit if Bitcoin suddenly matches this while I am no longer waiting.... 

I think your scenario's sound very plausible, but have a very low probability of happening. There is too much bullishness around. Price can linger on for a while (more than a year if necessary) but a deep decline is off my list of probable outcomes.

[d_eddie]

Hello Tera, how you doin'? You aren't forgotten here, see?
Nice to hear your contrarian voice again.

[bluebits]

Hello Tera, how you doin'? You aren't forgotten here, see?
Nice to hear your contrarian voice again.

I'm not Tera (


Though I would like to summon him back-

[LFC_Bitcoin]

Hello Tera, how you doin'? You aren't forgotten here, see?
Nice to hear your contrarian voice again.

I'm not Tera (


Though I would like to summon him back-

He’s a she, I believe.

[Last of the V8s]

and we're back in the room

[bluebits]

What we know about Tera

IQ > 140
Unmatched all time accuracy calling it up and down
Actual understanding of fundamental and technical aspects that move the market

Unknown

Gender
Time of return

[vroom]

What we know about Tera

IQ > 140
Unmatched all time accuracy calling it up and down
Actual understanding of fundamental and technical aspects that move the market

Unknown

Gender
Time of return

Also known as a better giga and an inferior peta.

[makrospex]

and we're back in the room

Also back @ $10.317 atm.
I wonder if it's really the time for a real breakout yet...