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

[akhjob]

i can see why the "blockchain-not-bitcoin" idiots went wrong. there is only one blockchain that has a valid use case and that is an invention: bitcoin.

to see an entire high-tech nation, and not a marginal one, to fall for this stupidity is hard to believe. the only explanation i have ( and i am no expert in this field) is that TRUST is such a big issue for china, since there is this culture of cheating and now they hope that "blockchain" will somehow make it easier for them to trust companies (for example).

i dont see "blockchain" working. it is out for a decade now, where are the applications? other than money/bitcoin?

if they really go all-in to "blockchain" with their entire economy it will end as a catastrophic failure like the Great Leap Forward.

That's because if they abruptly approve of bitcoin, other idiotic nations will call China, the funding nation for criminals. I think it's good they have reversed their earlier stance and have recognised blockchain. Once everyone gets involved into blockchain, it's only a matter of time they recognise Bitcoin.

[Paashaas]

Bakkt will launch their consumer app and merchant portal in the first half 2020 with Starbucks testing.

1. Digital asset infrastructure: We’re working to reduce friction in the use of digital assets to reflect their aggregate value and to reflect an increase in purchasing power that was previously siloed. For merchants, this enterprise-grade infrastructure enables a new form of payment acceptance at a lower cost per transaction along with faster settlement times, driving efficiencies compared to existing workflows.

2. Marketplace access: We’ll be launching a consumer app to make it easy for consumers to discover and unlock the value of digital assets, as well as ways in which they can transact or track them. Merchants gain access to a broader set of customers with expanded spending power.

3. Maximizing control: We started with the concept of a consumer-driven platform that offers the ultimate control over their digital assets, including the flexibility on how to use them. For merchants, we’re focused on delivering more control over costs and innovative customer engagement, both freeing up capital and supporting a direct relationship with their customers.

4. Establishing trust: Bakkt’s approach to secure technology, privacy and innovation means that we are an advocate for consumers who have yet to enter the digital asset space, and for merchants who want to accept new, efficient forms of payments without increasing risks.

https://medium.com/bakkt-blog/unlocking-the-value-of-digital-assets-bdda43214720

[gentlemand]

the only explanation i have ( and i am no expert in this field) is that TRUST is such a big issue for china, since there is this culture of cheating and now they hope that "blockchain" will somehow make it easier for them to trust companies (for example).

The prime reason is of course to increase their control and oppression. They've now announced there will be a governmentcoin.

But the trust thing is something that doesn't cross the average Westerner's mind but does sound like a pretty desperate issue there. You'd think with all this unity under the calm guidance of Winnie the Pooh they'd stop being so fucking bent but clearly not.

However no one's been able to adequately explain to me how you enforce and maintain the link between something's tokenisation/blockchain entry and keeping it irrevocably tied to the physical product until it ends up in front of you or inside you.

[bkbirge]

i can see why the "blockchain-not-bitcoin" idiots went wrong. there is only one blockchain that has a valid use case and that is an invention: bitcoin.

to see an entire high-tech nation, and not a marginal one, to fall for this stupidity is hard to believe. the only explanation i have ( and i am no expert in this field) is that TRUST is such a big issue for china, since there is this culture of cheating and now they hope that "blockchain" will somehow make it easier for them to trust companies (for example).

i dont see "blockchain" working. it is out for a decade now, where are the applications? other than money/bitcoin?

if they really go all-in to "blockchain" with their entire economy it will end as a catastrophic failure like the Great Leap Forward.

That's because if they abruptly approve of bitcoin, other idiotic nations will call China, the funding nation for criminals. I think it's good they have reversed their earlier stance and have recognised blockchain. Once everyone gets involved into blockchain, it's only a matter of time they recognise Bitcoin.

I don't necessarily follow your assumptions there. China doesn't have to recognize BTC ever (though I think they eventually will). They can establish their own mandatory digital currency with a state centralized blockchain and any Chinese citizen who uses something else they'll charge with "provoking trouble".
https://www.nytimes.com/2019/10/24/world/asia/china-metoo-hong-kong-protests.html

The activist, Huang Xueqin, was detained last week in the southern city of Guangzhou, according to friends who asked not to be identified by name. The authorities accused Ms. Huang, 31, of “picking quarrels and provoking trouble,” a vague accusation that the government often uses to silence activists who challenge the status quo.

[jojo69]

TRUST is such a big issue for china, since there is this culture of cheating

Careful, I frequently get accused of racism when I point out their divergent cultural mores around truth telling.

[lightfoot]

Going to keep our Porsches. Don't feel like buying anything new from them until their EVs mature a bit more. The MacLaren should be a fun toy in the meantime.

Hm. What's your thought on the Taycan? I took the little Porsche to an autocross this weekend, lot lighter than the 928S but not as much of a beast. Someone there did have a Panamera plug-in hybrid and he seemed to like it....

I want a big, heavy, fast, low car. Not an SUV/Minivan on steroids.

[LUCKMCFLY]

China Merchants Bank, China Merchants Bank is not a small fish, it is a medium-sized financial institution.

China...  China Merchant Bank just announced invested in BitPie, the Bitcoin wallet with longest history and most users back in China ...

Via Twitter: @DoveyWan

If this has helped the price of a good jump, then follow the function!



More Info: https://www.newsbtc.com/2019/10/28/chinese-bank-invests-bitcoin-wallet-president-xis-remarks/

[d_eddie]

Good advise
I also recommend MDMA with a little 2cb  for a trip without the confusion  

MDMA does bring some confusion for me, but each one is different(TM). As for good, it is good. It's something I think should be tried at least once in a lifetime. I only did it a few precious times, well spaced apart so it hasn't lost its magic yet.

Pure MDMA, so hard to get these days 
I miss the nineties in that regard.
Still one has to watch serotonine and dopamine drainage, i wouldn't do it too often.
Great sex, better than on blow, imo. Both a little too "athletic", however (but that's all about personal preference *lol*)

2cb in moderation is great for sex. I can't say the same for MDMA. It gives me a heart full of love and a limp dick, but YMMV and apparently it does. Is it really so hard to find these days? My friends tell me it isn't so. I still have a little hidden away, but I'm not telling anyone until that very special occasion comes up. 

[realr0ach]

TRUST is such a big issue for china, since there is this culture of cheating

Careful, I frequently get accused of racism when I point out their divergent cultural mores around truth telling.

You Jew shills only seem to be anti-China because the kikes through their media and banking monopolies were set to enslave the entire planet until Putin got in the way and China is allied with him.  If there was to be any valid reason for nuking China, it would not be because they're helping Putin stand in the way of the evil Jews, it would be because any country that skins cats and dogs alive and eats them probably deserves to no longer exist.  I don't even think noggers in Africa eat cats and dogs and they're the bottom of the barrel standard of 'humanity'.

[jackbauercsgo]

Back to price analysis....

3.5 month parabolic run at the initial stages of breaking down  

https://www.tradingview.com/x/PtdtsMU7/

Tricky! Retested the broken parabola and then reversed!  Didn’t see that last move coming.

[realr0ach]

China says they want to use "blockchain" to build the world's ultimate social credit score, cashless society slavery system dystopia and of course shitcoiners in this thread somehow think that's good news and that they've made the right choice in supporting imaginary, valueless, digital slavery systems instead of physical metals.  Meanwhile, the kikes in the US are attempting to force people to get implanted with blockchain based, dystopian, mark of the beast chips straight out of the bible:

https://www.zerohedge.com/health/big-brother-meets-big-pharma-harvesting-biometrics-everyone

Both China and the kikes can go fuck themselves because like every other sane person on the planet I'll be using physical metals instead and refusing to touch any of this bullshit.

[El duderino_]

via Imgflip Meme Generator

[JayJuanGee]

Not that we should care about BCH in here but this will be interesting
One could even speculate the correlation between this news and the big move.

There appear to be some problems with BCH mining, perhaps related to the difficulty re-targeting algorithm. It also appears one entity is now in effective control of mining.

I'm curious to learn what is going on here. Anyone know more?

https://twitter.com/aantonop/status/1188277233640755202?s=19

Well, I agree with you Icygreen that we do not necessarily want to either attribute very much credit to various shitcoins, such as bcash variants or even to focus too narrowly on simplified explanations for BTC price movements when there are a large number of factors that seem to push bitcoin's price and sometimes allow for exacerbation of BTC price movements in one direction or another.

On the other hand, we cannot really exactly divorce ourselves with these variety of shitty projects that have attached themselves to us like kids that we had tried to give up for adoption.  The misfits seem to want to continue to have a connection and therefore create some effects upon BTC price movements.

I was kind of hoping that some of BTC's short term price movements would involve and even allow for continued purging of froth in the various shitcoin community, and i kind of considered that ongoing purging could be an overall  better path forward, yet it still seems difficult to really see the purging to the extent that it really is going on, even though there seemed to have been a lot of strong evidence of purging in our April to June BTC pumpening of 3.5x while various shitcoins barely appreciated in value, and actually lost value respective to bitcoin.  In the past, few months (since June), a lot of shitcoins are largely holding their own, and even in this latest pumpening from a few days ago, the various shitcoins seem to have been pumped, along with bitcoin. 

Furthermore, the specific mining algorithm or otherwise seeming difficulties in bcash abc mining seems to have not had any real or meaningful negative price ramifications on bcash, at least so far in the short term we have not yet seen it.  Many of us know that there are a lot of reasons to characterize bcash abc as a piece of shit, but there still seem to be a decent number of pumpeners who actually believe in the stupid-ass payment mechanism vision, and probably bcash sv is even a BIGGER piece of shit that bcash abc, but it seems that the lack of liquidation avenues causes that piece of shit (referring to bcash sv) to be capable of considerable pumpenings that seem to defy actual logic or fundamentals... so yeah, if scammers are able to pump their shitty scams, then get rich quick dumbasses are going to jump on board and enable those lacking in fundamental zombies to live on for many, many many years, and likely even trap a decent number of innocent folks into their snake oils.

In other words, what I am trying to say is that I don't really see any pumpening of bitcoin or crashing of bcash abc (aka bch) that seems to be caused by their recent news of mining difficulties, which could just be some lagging effect that is taking place, perhaps?

[LFC_Bitcoin]

Lebanon stopping people from withdrawing cash



@Trezor
Bitcoin is an ultimate answer to corrupted governments, closed banks, banned cash out and freedom restrictions. Bitcoin is accessible to everyone, everywhere, anytime.

Strength and power to the people of #Lebanon!

https://twitter.com/trezor/status/1188796208321646592?s=21

[JayJuanGee]

Back to price analysis....

3.5 month parabolic run at the initial stages of breaking down  

https://www.tradingview.com/x/PtdtsMU7/

Tricky! Retested the broken parabola and then reversed!  Didn’t see that last move coming.

Yeah, we (royal we) all appreciate your (jackbauercsgo's) unique contributions and creativity of providing upside down charts and puzzling talking points.  







NOT!!!!!!!!!!!!!

[VB1001]

Veteran Trader: Don’t Break These 11 Rules Trading Bitcoin and Crypto

Never revenge trade
Avoid trading crypto on weekends
Never trade Forex on Friday
Maintain specific trading hours
Never fall in love with an asset
KISS - Keep It Simple, Stupid!
Only trade when you are in the proper mindset
Don’t forget to journal
Paper trade daily
Don’t try to catch a falling knife
Don’t overtrade

https://cointelegraph.com/news/veteran-trader-dont-break-these-11-rules-trading-bitcoin-and-crypto

He says nothing new but it's okay to remember.

[jackbauercsgo]

snip

snip

snip

Hey again JJG.  Sorry you aren't able to comprehend the charts.  I thought they were pretty self-explanatory but maybe not  .  I'll see if I can get some crayons to doodle something simple.  I'll bring a couple extra for you to chew on too   

[Phil_S]

upside down parabolas?

unless you're doing it ironically...

[bkbirge]

upside down parabolas?

unless you're doing it ironically...

At least time is still on the x-axis.

[jojo69]

at least JJG's reflexes are still good