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

[kurious]

Competition is good for business. If you are competent.

Competition is good for customers, not for the business itself. A moat is good for business.

Cheaper or free education rises the bar for competition in the business of "selling one's brain". This is bad for people already in the business of selling their brain: the higher, educated classes, since it fills the moat. But it benefits the system at large.

Quite right, it is the absence of competition that allows business to make excess profits.  It is a central tenet of economics that with 'perfect knowledge' (consumers knowing where, and being able to buy cheapest) and 'balanced perfect markets' (markets where entry to the market for companies is not prevented or difficult to compete in) then price will be in an equilibrium where supply and demand meet, to a sensible margin above cost.  No business with any power wants this, they all want an edge.  It's human nature.

With too much competition, it's harder to make money.  So, rigging markets to make it tough for competition to enter, or finding an area with no competition is the easiest way businesses can make excess profits and this is exactly what every business is incentivised to do.

[1713573231]

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[bitserve]

That's why I am not going to buy a lambo. Although theoretically I already can buy one almost new 8K km 2019 huracan right now.   I prefer a beach villa for this price.

Yeah in all seriousness I won’t be buying Lambo’s. Imagine how much a car like that depreciates in value over 2-3 years. Yes I know our bitcoin’s will be worth more (presumably) as time goes on but money is money. I don’t like losing money!

I’ll just take a standard Range Rover or something & a huge house

I think some of the luxury cars do not depreciate that much and even (I have heard) you can make an insta-winning deal buying second hand (almost new, used for only one season) from places like Dubai, etc.

Anyway, I would not consider buying a $200.000+ car unless my net worth would be a solid over 10-100+ times that amount. And even then... I probably would have much better things to do with my "surplus" money. I will never buy a boat/yatch ever either... I wouldn't like one even if "free"... Maybe I would buy a good Jet Ski though, but that's very cheap in comparison... and way more fun.

When I think about it, the main thing I want money for (beyond basic expenses, of course) is RE. There's no limit on how much "luxury" I would allow myself to "spend" on that if the money were not a restriction.

Anyway, first priority would be to be set for life on basic expenses and sleep well at night. Then we can start talking about luxury spending/purchases/investments.

[jojo69]

https://www.unz.com/chopkins/bernie-sanders-commie-kill-swarm/

Jesus, just imagine the freedomless horror if Americans could go to university, and, you know, maybe raise a child or two, without spending the rest of their lives in debt!

out fucking standing...lol

Umm... you realize that shit needs to be paid for _somehow_, right?

Well of course, pretty sure I have demonstrated that in here over the years.  I didn't really agree with the "fuck you, I like guns" Aussie bloke either, but I thought it was hilarious also.

Matthews' performance was pretty over the top.

[bkbirge]

That's why I am not going to buy a lambo. Although theoretically I already can buy one almost new 8K km 2019 huracan right now.   I prefer a beach villa for this price.

Yeah in all seriousness I won’t be buying Lambo’s. Imagine how much a car like that depreciates in value over 2-3 years. Yes I know our bitcoin’s will be worth more (presumably) as time goes on but money is money. I don’t like losing money!

I’ll just take a standard Range Rover or something & a huge house

I think some of the luxury cars do not depreciate that much and even (I have heard) you can make an insta-winning deal buying second hand (almost new) from places like Dubai, etc.

Anyway, I would not consider buying a $200.000+ car unless my net worth would be a solid over 10-100+ times that amount. And even then... I probably would have much better things to do with my "surplus" money. I will never buy a boat/yatch ever either... I wouldn't like one even if "free"... Maybe I would buy a good Jet Ski though, but that's very cheap in comparison... and way more fun.

When I think about it, the main thing I want money for (beyond basic expenses, of course) is RE. There's no limit on how much "luxury" I would allow myself to "spend" on that if the money were not a restriction.

Anyway, first priority would be to be set for life on basic expenses and sleep well at night. Then we can start talking about luxury spending/purchases/investments.

You all are thinking way too small. This is what the properly outfitted gentleman bitcoinaire needs...

[bitserve]

That's why I am not going to buy a lambo. Although theoretically I already can buy one almost new 8K km 2019 huracan right now.   I prefer a beach villa for this price.

Yeah in all seriousness I won’t be buying Lambo’s. Imagine how much a car like that depreciates in value over 2-3 years. Yes I know our bitcoin’s will be worth more (presumably) as time goes on but money is money. I don’t like losing money!

I’ll just take a standard Range Rover or something & a huge house

I think some of the luxury cars do not depreciate that much and even (I have heard) you can make an insta-winning deal buying second hand (almost new) from places like Dubai, etc.

Anyway, I would not consider buying a $200.000+ car unless my net worth would be a solid over 10-100+ times that amount. And even then... I probably would have much better things to do with my "surplus" money. I will never buy a boat/yatch ever either... I wouldn't like one even if "free"... Maybe I would buy a good Jet Ski though, but that's very cheap in comparison... and way more fun.

When I think about it, the main thing I want money for (beyond basic expenses, of course) is RE. There's no limit on how much "luxury" I would allow myself to "spend" on that if the money were not a restriction.

Anyway, first priority would be to be set for life on basic expenses and sleep well at night. Then we can start talking about luxury spending/purchases/investments.

You all are thinking way too small. This is what the properly outfitted gentleman bitcoinaire needs...

Bleh, been there, done that

https://www.menkind.co.uk/x-twin-f18-hornet

[Wekkel]

A $30k white 2003 Bentley would do just fine 
Still plenty to pay the repair bills and gas.

....if only I would have some more BTC of course....

[JimboToronto]

Good morning Bitcoinland.

Another day another AYH ($10495 Stamp), another correction... currently $10383USD/$13778CAD (Bitcoinaverage).

I love this shit. Keep it coming.

Go Bitcoin go.

[mindrust]

Anyway, I would not consider buying a $200.000+ car unless my net worth would be a solid over 10-100+ times that amount. And even then... I probably would have much better things to do with my "surplus" money. I will never buy a boat/yatch ever either...

Having money isn't going to be enough to keep a beast like Lambo. Maybe only for a while. This car (boats too) is a money sink. No matter how much money you have, unless you have a source of streaming income (preferably passive), you'll fail at keeping it. Everything you do or don't do with them costs you money. They stay unused, they cost money. You ride them, they ask even more money.

Let's say the car is $200k, do you think having $2m cash is going to be enough? I wouldn't feel comfortable tbh.

I don't see the point of having a luxury car anyway. I'd rather buy a cool looking used BMW/Mercedes, I mean the older ones that still look cool. (newer ones look like shit)

This car is only $16k in the US and it looks absolutely stunning. Performance? It is a damn V8.


https://www.ebay.com/itm/2008-Mercedes-Benz-SL-Class-V8/372942352153?hash=item56d518af19%3Ag%3AT-gAAOSwJBdeOulP&LH_BIN=1

Even that is probably more than I would ever want. I'd rather get an E series coupe. (again, older ones)

I don't think it is a good idea to spend your money on luxury stuff before you think a way to make passive income first. $1m is only good for a house, starting a business and a cheap car. $2m is not really much different than having $1m. Maybe a slightly bigger house, still not a too expensive car but a better business and more chances to fail and retry.

You get the idea.

I'd never spend my hard earned cash on these too luxury stuff unless I got them nearly for free. The money you get by hodling bitcoin is not free money. You are getting paid for the risk you took.

[Lambie Slayer]

https://twitter.com/DrDenaGrayson/status/1227593764945956867

Dr. Dena Grayson
@DrDenaGrayson
"Not only can the #coronavirus spread through direct human-human contact, but #2019nCoV can also reportedly spread through...defective sewage pipes.😷🤢🤮"

https://www.cnn.com/2020/02/12/asia/hong-kong-coronavirus-pipes-intl-hnk/index.html

"Microbiologist Yuen Kwok-yung said at a Tuesday press conference that an improperly sealed pipe could have resulted in a virus transmission, by carrying infected feces into the building's ventilation system and blowing it into people's bathrooms.
"As the pipeline that transfers feces is connected to the air pipe, it is very likely for the virus in the feces to be transmitted through the air fan into the toilet," Yuen said.

So how does this work?
Every toilet, sink, and floor drain has a U-shaped pipe, which prevents sewer gases from entering the home and allows waste water and odors to escape. To work properly the U-shaped pipe, also known as a U-trap, needs to hold water in its bend.
These pipes connect to what's called a soil pipe, also known as a discharge pipe, which washes the waste away from the toilet, sink or drain.
The soil pipe needs to have a vent pipe connected, which ensures the sewer gases and odors are carried away -- usually through a vent in the roof. The vent pipe also makes sure that pressure in the drain is equalized so waste water keeps flowing.
"If you imagine the pipe linking all the toilets in the same unit on different floors -- it's like a Christmas tree," said Hung.
During the SARS crisis, at Amoy Gardens the U pipes connecting to the floor drains were empty of water, according to a local investigation. That allowed virus-laden droplets coming down the pipes from other apartments to collect in the U-bend. Without the water to form a liquid plug, nothing stopped it from entering the bathroom."

This kinda explains everyone getting sick just chillen in their cruise ship cabin. Cruise ships are just floating piles of junk where everyone just eats buffets and poops all day.

Buy Bitcoin in uncertain times, and do not turn on the moisture fan in your bathroom.

[LUCKMCFLY]

I think that many people are putting their investments in Bitcoin, world events are pointing out that money should be protected, and bitcoin is leading as is gold.

Mr. Rager. “23%, 19%, 16%, 12% and a move up to the monthly resistance would be a 10% gain before a possible pullback. I’m watching monthly open at $10,761 as a major resistance much like it was at $13ks.”

It's nice to see BTC with that percentage of growth.




Source: https://www.newsbtc.com/2020/02/12/bitcoin-hits-10000-once-again-but-its-rally-is-slowing-down/

[serveria.com]

https://twitter.com/DrDenaGrayson/status/1227593764945956867

Dr. Dena Grayson
@DrDenaGrayson
"Not only can the #coronavirus spread through direct human-human contact, but #2019nCoV can also reportedly spread through...defective sewage pipes.😷🤢🤮"

https://www.cnn.com/2020/02/12/asia/hong-kong-coronavirus-pipes-intl-hnk/index.html

"Microbiologist Yuen Kwok-yung said at a Tuesday press conference that an improperly sealed pipe could have resulted in a virus transmission, by carrying infected feces into the building's ventilation system and blowing it into people's bathrooms.
"As the pipeline that transfers feces is connected to the air pipe, it is very likely for the virus in the feces to be transmitted through the air fan into the toilet," Yuen said.

So how does this work?
Every toilet, sink, and floor drain has a U-shaped pipe, which prevents sewer gases from entering the home and allows waste water and odors to escape. To work properly the U-shaped pipe, also known as a U-trap, needs to hold water in its bend.
These pipes connect to what's called a soil pipe, also known as a discharge pipe, which washes the waste away from the toilet, sink or drain.
The soil pipe needs to have a vent pipe connected, which ensures the sewer gases and odors are carried away -- usually through a vent in the roof. The vent pipe also makes sure that pressure in the drain is equalized so waste water keeps flowing.
"If you imagine the pipe linking all the toilets in the same unit on different floors -- it's like a Christmas tree," said Hung.
During the SARS crisis, at Amoy Gardens the U pipes connecting to the floor drains were empty of water, according to a local investigation. That allowed virus-laden droplets coming down the pipes from other apartments to collect in the U-bend. Without the water to form a liquid plug, nothing stopped it from entering the bathroom."

This kinda explains everyone getting sick just chillen in their cruise ship cabin. Cruise ships are just floating piles of junk where everyone just eats buffets and poops all day.

Buy Bitcoin in uncertain times, and do not turn on the moisture fan in your bathroom.

this is when the shit hits the fan saying gets an entire new meaning 

[peonminer]

Are there any websites one could use to watch the buy and sell walls of multiple major exchanges? Such as an aggregate of coinbase, binance, bitstamp, bitfinex, bitmex, etc? It would be nice to have a visual of all of the major canyons at once. Thanks!

[bitebits]

That bus on the left seems to go to a much more popular destination:

https://txstreet.com/beta/street/bitcoin-bitcoincash

[bitserve]

Anyway, I would not consider buying a $200.000+ car unless my net worth would be a solid over 10-100+ times that amount. And even then... I probably would have much better things to do with my "surplus" money. I will never buy a boat/yatch ever either...

Having money isn't going to be enough to keep a beast like Lambo. Maybe only for a while. This car (boats too) is a money sink. No matter how much money you have, unless you have a source of streaming income (preferably passive), you'll fail at keeping it. Everything you do or don't do with them costs you money. They stay unused, they cost money. You ride them, they ask even more money.

Let's say the car is $200k, do you think having $2m cash is going to be enough? I wouldn't feel comfortable tbh.

I don't see the point of having a luxury car anyway. I'd rather buy a cool looking used BMW/Mercedes, I mean the older ones that still look cool. (newer ones look like shit)

This car is only $16k in the US and it looks absolutely stunning. Performance? It is a damn V8.


https://www.ebay.com/itm/2008-Mercedes-Benz-SL-Class-V8/372942352153?hash=item56d518af19%3Ag%3AT-gAAOSwJBdeOulP&LH_BIN=1

Even that is probably more than I would ever want. I'd rather get an E series coupe. (again, older ones)

I don't think it is a good idea to spend your money on luxury stuff before you think a way to make passive income first. $1m is only good for a house, starting a business and a cheap car. $2m is not really much different than having $1m. Maybe a slightly bigger house, still not a too expensive car but a better business and more chances to fail and retry.

You get the idea.

I'd never spend my hard earned cash on these too luxury stuff unless I got them nearly for free. The money you get by hodling bitcoin is not free money. You are getting paid for the risk you took.

Yeah, that's why I said 10-100x the amount. 10x would be the bare minimum and that if it really was my dream or something... I mean, I understand you can "overspend" a little if something is important enough for you.

Totally agreed on your choice. In fact, this is what I have (not a picture of mine, but same colour and model):



Bought it used in 2011 or 2012 for around half the price new + extras. It does the job and looks good enough. I barely even use it because I am most of the time beyond the legal alcohol limit for driving, so I probably will keep it for a bunch of years more or until it breaks or I crash it beyond repair. Have spent almost *nothing* on maintenance. And it has a very low fuel intake (not an SL with V8 engine, just a modest 1800cc 200K SLK).

Upgrading my car is extremely low in my wish list even if I had the money.

[BitcoinNewsMagazine]

Boats are really a hole in the water. Go for it if you really love fishing. I always buy a used car let someone else take the depreciation hit.

[bitebits]

@gentlemand @LFC FYI

https://www.kraken.com/en-us/features/otc-exchange

https://blog.kraken.com/post/3355/kraken-otc-acquires-circle-trade/

https://blog.kraken.com/post/3837/kraken-announces-new-otc-electronic-dashboard-to-let-traders-get-automated-price-quotes-in-seconds-available-february-13th/

Starting February 13th at approximately 17:00 UTC, all of our OTC customers will be able to:

-Request quotes for buy and sell orders directly from the dashboard for ALL fiat and crypto trading pairs

-Accept or decline quotes on the same screen

Sample Trade Agreement On Kraken’s New RFQ Platform


Step 1: The customer requests a quote.

 
Step 2: The OTC desk quickly provides a price for the transaction. The customer must decide whether to accept or decline the quote:

 
Step 3: Once the customer accepts the transaction, a confirmation is sent to their email with the pertinent details. Transactions will be settled in the same manner that customers are accustomed to.

 
Step 4: The accepted quote will now appear in your “Quote History” on the dashboard.

[psycodad]

Just got news from a friend in Shenzhen:
Almost all companies in and around Shenzhen are closed down by government until at least 2nd week of March!
No electronics going out from there in the next weeks.

I believe the impact for the economy worldwide will be huge. Moneys might want to get out of stocks into something different... (<- minor relevance to WO)

I see unrests coming to the western societies when I-thingies get short on supply and hipster fanbois will be forced to sit in Starbucks with their yesteryear I-gadget. (<- j/k - for the Chinese it's a f*cking hard time right now and I feel very sorry for them)

[fluidjax]

Are there any websites one could use to watch the buy and sell walls of multiple major exchanges? Such as an aggregate of coinbase, binance, bitstamp, bitfinex, bitmex, etc? It would be nice to have a visual of all of the major canyons at once. Thanks!

This is pretty good https://data.bitcoinity.org/markets/books/USD

[LFC_Bitcoin]

@gentlemand @LFC FYI

https://www.kraken.com/en-us/features/otc-exchange

https://blog.kraken.com/post/3355/kraken-otc-acquires-circle-trade/

https://blog.kraken.com/post/3837/kraken-announces-new-otc-electronic-dashboard-to-let-traders-get-automated-price-quotes-in-seconds-available-february-13th/

Starting February 13th at approximately 17:00 UTC, all of our OTC customers will be able to:

-Request quotes for buy and sell orders directly from the dashboard for ALL fiat and crypto trading pairs

-Accept or decline quotes on the same screen

Sample Trade Agreement On Kraken’s New RFQ Platform


Step 1: The customer requests a quote.

 
Step 2: The OTC desk quickly provides a price for the transaction. The customer must decide whether to accept or decline the quote:

 
Step 3: Once the customer accepts the transaction, a confirmation is sent to their email with the pertinent details. Transactions will be settled in the same manner that customers are accustomed to.

 
Step 4: The accepted quote will now appear in your “Quote History” on the dashboard.

Wow, that’s great to know for the future. Thanks.

[HI-TEC99]

I don’t really care if forestry workers are as productive as they could be, so long as they keep cutting down the trees and I don’t need to be anywhere near them when they do it.  

It is absolutely imperative we don’t give them any other career options, otherwise they might become data scientists or entrepreneurs and compete with my business.  

Accordingly high tuition fees are a critical tool in making sure we don’t run out of forestry workers, fishermen, roughnecks and toilet cleaners.  People are generally pretty smart, so you can’t keep them down if we don’t have systemic barriers to social mobility.  

Some people devote themselves to a worthy vocation they feel they are suited to doing. They don't do the job for the money, they have a passion for it. Are you seriously trying to tell me this bloke would switch to a data scientist job or entrepreneur?



He's obviously dedicated to unblocking toilets for the rest of his life, and derives great pleasure from it.