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

[serveria.com]

Maybe btc did not died today, but I can perfectly understand why nobody here seems to be satisfied with this price...

When btc was 3k-ish we were all expecting btc to find the bottom and skyrocket again. Btc indeed DID that, but now seems to lack the propeller to stay high, even if the actual price seems very low.

In this fragile situation and with low volumes, we all know that some issues (mainly tether and mtgox coins) are still pending on btc price, and a shit-ton of FUD can be released anytime with a bogdanoff's call.

I will hodl till the end and will not sell anything before a new ATH (except maybe a beer or two if it happens, but I see still very few markets), despite that I am not comfortable with the current situation.

The halving is coming to help us and it's near (~6 months away). 

[realr0ach]

Not against anyone in particular here...

The chart is a perfect example of you people, seeing as how in the Bitcoin developer channels, there's virtually nobody who believes Bitcoin is too big to fail and when some big price implosion happens, you even see people question if sha256d was broken or something.  So everyone knows it's all built on a shaky ground of bullshit that can implode or be blackswaned to nothing at any second.  

Yes, sha256d is supposedly 'secure' today, but it won't be sometime tomorrow, and if it's required to have a 24/7 on-call Best Buy tech support team to constantly micromanage this nonsense and constantly alter even the bedrock foundations of which it's built on, it's obviously a Keynesian bullshit scam, unlike physical metals.  Metals do not require Best Buy Geek Squad to constantly tamper with them in an attempt to prevent them from imploding.

[toknormal]

BTC dominance resuming its slide. Alt season about to taxi onto the runway.

Dominance heading for the 20-30% range.

Pfff... what a load of BS! Huge green dildo is taxiing onto runway and guess what is there in the end of the runway? Your shitcoiner ass gaping wide!  

Profit has been wrung dry out of most alts. Specially against BTC.

Also BTC requires a healthy alt market to grow more. Dominance will continue to reduce now while alt market "buttresses" start growing and most upside will be in alts during the next bull market (at least in relative gain terms).

[xhomerx10]

Happy Birthday to the man that brings the colour in this thread !!!!

I hope you have a good day.... today in Belgium is a special day 11 November !!!

 Thanks MicG  It used to be a holiday here so when I was younger, I thought everyone had the day off school on their birthday.  The year they cancelled the November 11th statutory holiday really confused me.  My mom told me to hurry up and get ready for school or I would be late.  "I don't have school today! It's my birthday!!",  I said.  One of my saddest days ever when I found out that people didn't get the day off school on their birthday.  There oughtta be a law...


 Edit: Oh yeah I almost forgot... I'm working nights 

[realr0ach]

Also BTC requires a healthy alt market to grow more.

As with most Toknormal posts, leaving out the real relevant facts.  The only reason BTC requires an altmarket is because mining is designed to centralize through non-commodity hardware.  So the alt market's fleeting pump and dump coins with newer or different proprietary mining systems offer a window into Bitcoin for the outside world.  However, we've already had the Cambrian explosion of altcoins, and they all pretty much centralize too, and the general public is not really interested in them anymore.  So the general public then has no stepping stone to be involved in BTC either and the greater fools dry up.

[Searing]

Maybe btc did not died today, but I can perfectly understand why nobody here seems to be satisfied with this price...

When btc was 3k-ish we were all expecting btc to find the bottom and skyrocket again. Btc indeed DID that, but now seems to lack the propeller to stay high, even if the actual price seems very low.

In this fragile situation and with low volumes, we all know that some issues (mainly tether and mtgox coins) are still pending on btc price, and a shit-ton of FUD can be released anytime with a bogdanoff's call.

I will hodl till the end and will not sell anything before a new ATH (except maybe a beer or two if it happens, but I see still very few markets), despite that I am not comfortable with the current situation.

The halving is coming to help us and it's near (~6 months away). 

Also for some of us, it is not a matter of price. (kinda I lie a bit, current price 'stings' compared to ATH).

So to HODL, you have to have a 'specific' outlook and or means to HODL, so all this price variation and supposed 'beanie baby' money by some, does not drive you too crazy!

I have no debt, other income from investments retired on such, not using crypto hoard for any of this, since mining stopped. My house just got fixed up, emergency fund,

no credit card debt, 30K I can borrow of Home Equity Load if it all goes to heck...etc. When I look at the world today, I see have run out of 'coping mechanisms' with the

above done. Lately, I've been thinking about what to do besides above and BTC HODL to placate 'coping mechanisms' I've used over time. (my safety blanket) Take up canning

of goods? Build a Bunker? hmmmm....sorry I digress...

The other thing I have is I'm 64 years old. IF I don't follow through on my kool-aid drinking dreams of BTC/Crypto, I'm only likely to live another 21 years say anyway.

So with that it is easy to hodl. If I was in my 20's it would be damn near impossible for me to do this. Just saying, perspective matters. So with the above, makes my HODL'ing

'kinda what the f*ck, let's see what happens), anyway, at this point in time. The next ATH comes around I could crack like a nut, but how I look at all this now.

Besides Boom/Bust or Chump/Champ when they stick me in the Nursing Home someday, I'll have great stories to tell. The currency of Nursing Homes is 'stories' and

whatever happens BTC/Crypto has been a doozy!

later

Brad

[El duderino_]

Damn, nights on a holiday ...... still have a good one xhomerx you deserve it!

[_javi_]

<-- LOL Okay but I mean TODAY!
<-- Best day of the year
<-- Look over there
<-- OPSec fail and stuff

Feliz cumpleaños, Hacedor de Sombreros!!

Have a nice and bullish day!
I wish the green candles fill your cake!

[toknormal]

Also BTC requires a healthy alt market to grow more.

So the alt market's fleeting pump and dump coins with newer or different proprietary mining systems offer a window into Bitcoin for the outside world.  However, we've already had the Cambrian explosion of altcoins, and they all pretty much centralize too, and the general public is not really interested in them anymore.

realr0ach wishes bitcoin "went away". Others on here wish it had a monopoly. Both characterisations seem a bit like wishing for the grass not be green.

The $238 Bn crypto marketcap is diverse and active. Live with it. Bitcoin trades against alts because it needs something to trade against that's in its class. At times it will dominate and at other times it won't. We've just passed the point of apparent BTC maximum dominance where the cycle reverses.

That's just how diverse market cycles work and if they didn't exist they'd be created. (By "markets" )

[Raja_MBZ]

BTC dominance resuming its slide. Alt season about to taxi onto the runway.

Dominance heading for the 20-30% range.

Mmmm... I do agree with "Alt season about to taxi onto the runway", but 20-30% total BTC dominance? Hell no. We may get to that point once very big projects like Telegram's Gram and Facebook's Libra are calculated in the altcoin's total marketcap; however, without them? I don't think so.

[bkbirge]

Besides Boom/Bust or Chump/Champ when they stick me in the Nursing Home someday, I'll have great stories to tell. The currency of Nursing Homes is 'stories' and whatever happens BTC/Crypto has been a doozy!

I 'member visiting nana at the nursing home, how they buzzed us in, and ran the magnetic sensors over us every visit. They were surprisingly strict about hugs and time limits too, I guess she liked the discipline, very old school that way, they don't make 'em like her anymore. She liked to tell us about the best recipes for homemade toilet wine, that takes me back, thanksgivings were always so much fun. She was more into cigarettes for currency though.

[realr0ach]

Toknormal, your post is utterly nonsensical pretending the "BTC dominance" metric is somehow a tradable variable like the gold to silver ratio.  It's a completely meaningless metric because you can have coins with a supposed billion dollar market cap propped up by only a $1 buy side.  There can be $10 billion market cap JayJuanGee coins that he owns all of them with no buyers whatsoever, and they're everywhere.  

Since Bitcoin is not a real commodity or resource, Bitcoin itself can turn into this at any second with lots of 'hodlers' but absolutely nobody interested in giving up their labor or resources for any imaginary, valueless timestamps.  So, no, BTC dominance is not a relevant or tradable metric for anything.

[Last of the V8s]

<-- LOL Okay but I mean TODAY!
<-- Best day of the year
<-- Look over there
<-- OPSec fail and stuff

Feliz cumpleaños, Hacedor de Sombreros!!

Have a nice and bullish day!
I wish the green candles fill your cake!

haha. Homer the Hat Hacker
Many Happy Returns

[erre]

Not against anyone in particular here...

The chart is a perfect example of you people, seeing as how in the Bitcoin developer channels, there's virtually nobody who believes Bitcoin is too big to fail and when some big price implosion happens, you even see people question if sha256d was broken or something.  So everyone knows it's all built on a shaky ground of bullshit that can implode or be blackswaned to nothing at any second.  

Yes, sha256d is supposedly 'secure' today, but it won't be sometime tomorrow, and if it's required to have a 24/7 on-call Best Buy tech support team to constantly micromanage this nonsense and constantly alter even the bedrock foundations of which it's built on, it's obviously a Keynesian bullshit scam, unlike physical metals.  Metals do not require Best Buy Geek Squad to constantly tamper with them in an attempt to prevent them from imploding.

With "free" energy you can strip 3 protons out of lead and the result will be gold. A fusion reactor is much more feasible than quantum computing.
And there's no geologist geek squad able to fix it

[Hyperjacked]

Well nothing has changed...posters are insane  
See you at Bitcoin 20k some sunny day  

[toknormal]

Toknormal, your post is utterly nonsensical

Read it again. It's sensical.

Why do you think Bitcoin didn't fall to the worst predicted lows this time around ? Because the alt market had grown large enough for their to be considerable volume in cross-crypto trading and capital flowed from alts to BTC which mitigated the capital flow from BTC to $USD.

Conversely, alts will rally to more significant gains than bitcoin in the bull market.

So they trade against it and have a dampening effect on it that cushions its volatility against the $USD.

They are the "lungs" of bitcoin.

[xhomerx10]

<-- LOL Okay but I mean TODAY!
<-- Best day of the year
<-- Look over there
<-- OPSec fail and stuff

Feliz cumpleaños, Hacedor de Sombreros!!

Have a nice and bullish day!
I wish the green candles fill your cake!

haha. Homer the Hat Hacker
Many Happy Returns

 Thank you V8 and thank you javi!
I think my wife already thought about the big green candle on my cake because I found this in the mail box today.



 Time for my before-work-MicG-patented HODL nap.

[realr0ach]

With "free" energy you can strip 3 protons out of lead and the result will be gold. A fusion reactor is much more feasible than quantum computing.
And there's no geologist geek squad able to fix it

Yea, because building a giant tokamak for billions of dollars and it's billions of dollars of operational costs cost nothing at all.  Positive energy output fusion can be a resounding net negative in this regard, but even this has not happend yet unless the navy, seemingly hoax patents are real.  Even then, it takes a lot more energy to 'create' matter than to tip a domino to release energy from a metastable state.  For physical metals to be redundant, you would need not only positive energy output, but literal free energy with virtually no overhead to the point where it would be a post-scarcity civilization.

[realr0ach]

Trollgoossens, you ready for $500 silver $0 Bitcoin?  If you don't own any, looks like the opportunity to get some is about to close.  Even if you assume 99% of the entire planet is too stupid or broke to buy silver, that leaves only about 30 oz each for the other 1%.

[toknormal]

Trollgoossens, you ready for $500 silver $0 Bitcoin?

Dream on.

Silver has a bit of a problem travelling through wires. You can't hold it unless its "under your bed". Same with gold. So that puts a glass ceiling on PM valuations from now on because Bitcoin you *can* hold and it can travel through wires.

No contest.