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

[Ibian]

I mean, look at Ibian - he's already feasting on this, hoping that this the one. Why would I give a fuck to this kind of approach?

I don't think I have actually said that I hope this is The One. If you want to know what someone thinks, why not ask instead of guess?

Okay,

This could really be the big one.

So we agree. I did not say that I hope it is.

[Torque]

You want bitcoin to win completely against FIAT but there will be many grannies and dads who will miss the train and will fight btc forever just because some bankster told them to not invest bitcoin. What was their mistake? Listening to the banksters? Being not smart enough? Being old and dumb? At this point the movie "the big short" comes to my mind, when bitcoin hits $1.000.000, I am making the call here, lots of people will die. Not because I want people to die.

If one day there is a global, economic reset (where they start lopping off zeros on the USD currency value), then anyone not holding deflationary assets like real estate, high end collectibles, PMs, and yes Bitcoin will suffer immensely. Everything will reset to it's real economic value. It doesn't matter if those people are old, middle-aged, or young. If they had the means beforehand, then they will be seen as somewhat foolish either way for not owning any. There will massive job losses the likes of which we haven't seen since the Great Depression. And yes some may die, because they will become bankrupt and impoverished overnight.

[infofront]

We might be on the cusp of said global economic reset now.

Everyone is worried about the virus, but the irony is that the second and third order effects would kill a lot more people than the virus.

[Phil_S]

Even though real demand fell off a cliff quite a few years ago. Americans and much of the world citizens are completely tapped out, from all the personal household debt, student loan debt, and lack of income growth. They can't consume any more stuff. And they are starting to not even desire any more stuff, willing to live and be happy with less.

Yeah, nobody needs a faster computer or better smartphone these days.

Tech companies saw this years ago, and desperately tried to invent new types of products: smart watches, fitness trackers, VR... but nobody needs this shit.

Now they're trying foldable smartphones, ha!

[Ibian]

Phones with a large holographic screen would be nice. Other than that...

[Torque]

Even though real demand fell off a cliff quite a few years ago. Americans and much of the world citizens are completely tapped out, from all the personal household debt, student loan debt, and lack of income growth. They can't consume any more stuff. And they are starting to not even desire any more stuff, willing to live and be happy with less.

Yeah, nobody needs a faster computer or better smartphone these days.

Tech companies saw this years ago, and desperately tried to invent new types of products: smart watches, fitness trackers, VR... but nobody needs this shit.

Now they're trying foldable smartphones, ha!

Exactly. Not only that, but as a prerequisite to buying more stuff (e.g., furniture, household accessories, pictures/paintings, collectibles, etc.) you need somewhere to put all that stuff, i.e. a sizeable house like people their age bought back in the early 2000's. But with house prices doubling in just the last 5 years, young and middle-aged people can't even afford a nice/big house any longer. So they settle with a small apartment, where space is limited. Likewise many retirees are downsizing or have already downsized. People have cut waay back on buying more of everything: new clothes, new gadgets, new jewelry, new household items, new cars, etc.

It could literally be another decade or two before people start buying stuff again, but that would be predicated on income growth actually moving up again. Don't see that happening any time soon either.

[Phil_S]

Phones with a large holographic screen would be nice. Other than that...

I have a cheap chinese phone with a 3D screen to watch 3D movies.

It's fine, but it's also a niche product, very small percentage of people would be interested.

[bitserve]

Even though real demand fell off a cliff quite a few years ago. Americans and much of the world citizens are completely tapped out, from all the personal household debt, student loan debt, and lack of income growth. They can't consume any more stuff. And they are starting to not even desire any more stuff, willing to live and be happy with less.

Yeah, nobody needs a faster computer or better smartphone these days.

Tech companies saw this years ago, and desperately tried to invent new types of products: smart watches, fitness trackers, VR... but nobody needs this shit.

Now they're trying foldable smartphones, ha!

Exactly. Not only that, but as a prerequisite to buying more stuff (e.g., furniture, household accessories, pictures/paintings, collectibles, etc.) you need somewhere to put all that stuff, i.e. a sizeable house like people their age bought back in the early 2000's. But with house prices doubling in just the last 5 years, young and middle-aged people can't even afford a nice/big house any longer. So they settle with a small apartment, where space is limited. Likewise many retirees are downsizing or have already downsized. People have cut waay back on buying more of everything: new clothes, new gadgets, new jewelry, new household items, new cars, etc.

It could literally be another decade or two before people start buying stuff again, but that would be predicated on income growth actually moving up again. Don't see that happening any time soon either.

This looks very interesting and I do agree with most of it... but I don't see where you are going. Do you think we are already on a deflationary economy?

[ataArt]

Even though real demand fell off a cliff quite a few years ago. Americans and much of the world citizens are completely tapped out, from all the personal household debt, student loan debt, and lack of income growth. They can't consume any more stuff. And they are starting to not even desire any more stuff, willing to live and be happy with less.

Yeah, nobody needs a faster computer or better smartphone these days.

Tech companies saw this years ago, and desperately tried to invent new types of products: smart watches, fitness trackers, VR... but nobody needs this shit.

Now they're trying foldable smartphones, ha!

Exactly. Not only that, but as a prerequisite to buying more stuff (e.g., furniture, household accessories, pictures/paintings, collectibles, etc.) you need somewhere to put all that stuff, i.e. a sizeable house like people their age bought back in the early 2000's. But with house prices doubling in just the last 5 years, young and middle-aged people can't even afford a nice/big house any longer. So they settle with a small apartment, where space is limited. Likewise many retirees are downsizing or have already downsized. People have cut waay back on buying more of everything: new clothes, new gadgets, new jewelry, new household items, new cars, etc.

It could literally be another decade or two before people start buying stuff again, but that would be predicated on income growth actually moving up again. Don't see that happening any time soon either.

With such rapid climate changes, it is best to collect money not for a big house, but for a ticket to another planet

[Torque]

Even though real demand fell off a cliff quite a few years ago. Americans and much of the world citizens are completely tapped out, from all the personal household debt, student loan debt, and lack of income growth. They can't consume any more stuff. And they are starting to not even desire any more stuff, willing to live and be happy with less.

Yeah, nobody needs a faster computer or better smartphone these days.

Tech companies saw this years ago, and desperately tried to invent new types of products: smart watches, fitness trackers, VR... but nobody needs this shit.

Now they're trying foldable smartphones, ha!

Exactly. Not only that, but as a prerequisite to buying more stuff (e.g., furniture, household accessories, pictures/paintings, collectibles, etc.) you need somewhere to put all that stuff, i.e. a sizeable house like people their age bought back in the early 2000's. But with house prices doubling in just the last 5 years, young and middle-aged people can't even afford a nice/big house any longer. So they settle with a small apartment, where space is limited. Likewise many retirees are downsizing or have already downsized. People have cut waay back on buying more of everything: new clothes, new gadgets, new jewelry, new household items, new cars, etc.

It could literally be another decade or two before people start buying stuff again, but that would be predicated on income growth actually moving up again. Don't see that happening any time soon either.

This looks very interesting and I do agree with most of it... but I don't see where you are going. Do you think we are already on a deflationary economy?

Yes, absolutely, I believe we have been in a global deflationary economy since the Financial Crisis in 2009. There has been no real economic growth since then. All the media delivered so-called "growth" has been completely fake and almost entirely fueled with low-interest debt. That is why the Fed cannot and will not raise interest rates, it would crash the world markets and usher in a new Great Depression, but on a global scale.

Remember that something like ~40% of U.S. companies are now zombie companies, each one propped up by the banks (through cheap debt) in order to merely employ tens of thousands of people to pay them a salary so they can then help consume stuff (in a U.S. economy whose GDP is 70% consumption-driven). The U.S. is the major global consumption entity of the entire world.

Why do you think that all these mega IT/Tech companies have shifted focus over the last decade to collecting and selling user data? They're selling the user data to the marketing departments of retail and wholesale goods suppliers, because they want to more acutely target consumers to sell them more shit and more services (that are not selling otherwise, because demand has dried up). They are completely desperate to sell everyone more stuff, but people can't afford more stuff, and now even their desire for more stuff has cratered.

[LUCKMCFLY]

Yes! Hodl!!

JUST HODL IT. pattern

Source: https://twitter.com/ChartsBtc/status/1233066977523982338

[goldkingcoiner]

Do you guys know any good places to spend crypto? Like airplane tickets and hotels?

[infofront]

cheapair, expedia

[Ibian]

Do you guys know any good places to spend crypto? Like airplane tickets and hotels?

https://www.cheapair.com/

I buy all my plane tickets with bitcoin (and buy the coins right back on kraken, of course).

[Ibian]

Just checked prices for local hotels on cheapair. It... appears that I have been overpaying. Trying that site for the next few hotels, see how it goes.

[goldkingcoiner]

Do you guys know any good places to spend crypto? Like airplane tickets and hotels?

https://www.cheapair.com/

I buy all my plane tickets with bitcoin (and buy the coins right back on kraken, of course).

It always says no flights on my route. I wish I could see the German flights, if there are any....

Absolutely cannot find any flights whatsoever. The UI/UX of the site is so screwed up and inflexible, you type in something and hope they have that exact something available. What a crapshoot.

[xhomerx10]

Even though real demand fell off a cliff quite a few years ago. Americans and much of the world citizens are completely tapped out, from all the personal household debt, student loan debt, and lack of income growth. They can't consume any more stuff. And they are starting to not even desire any more stuff, willing to live and be happy with less.

Yeah, nobody needs a faster computer or better smartphone these days.

Tech companies saw this years ago, and desperately tried to invent new types of products: smart watches, fitness trackers, VR... but nobody needs this shit.

Now they're trying foldable smartphones, ha!

Exactly. Not only that, but as a prerequisite to buying more stuff (e.g., furniture, household accessories, pictures/paintings, collectibles, etc.) you need somewhere to put all that stuff, i.e. a sizeable house like people their age bought back in the early 2000's. But with house prices doubling in just the last 5 years, young and middle-aged people can't even afford a nice/big house any longer. So they settle with a small apartment, where space is limited. Likewise many retirees are downsizing or have already downsized. People have cut waay back on buying more of everything: new clothes, new gadgets, new jewelry, new household items, new cars, etc.

It could literally be another decade or two before people start buying stuff again, but that would be predicated on income growth actually moving up again. Don't see that happening any time soon either.

With such rapid climate changes, it is best to collect money not for a big house, but for a ticket to another planet

 Based on what we currently know, you'd be best to take your chances here with your stash.  There's nothing out there for us - at least not for another 7 billion years or so until the sun torches earth and mars... scientist believe that by then some of the moons of Saturn and Jupiter may be inhabitable.

[xhomerx10]

Do you guys know any good places to spend crypto? Like airplane tickets and hotels?

 I just got an e-mail from coincards.com a day or two ago - you can now purchase hotel.com gift cards up to $2000

[goldkingcoiner]

Do you guys know any good places to spend crypto? Like airplane tickets and hotels?

 I just got an e-mail from coincards.com a day or two ago - you can now purchase hotel.com gift cards up to $2000

Hotel.com you say? Sounds promising. Have you used coincards before?

[Raja_MBZ]

Just checked prices for local hotels on cheapair. It... appears that I have been overpaying.

What about the air tickets at cheapair? Have you been overpaying for them too?