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

[rolling]

*FED CUTS BENCHMARK RATE 50 BPS, SAYS VIRUS POSES EVOLVING RISKS

wow!

Must be what the rally was about yesterday. Some peeps got wind of the cut early.

[bkbirge]

https://cointelegraph.com/news/bitcoin-has-solidified-role-as-investors-digital-gold-grayscale

“So I talk to an institution, they now look at Bitcoin as part of the same flight to safety as they might look at bonds or gold or other things that have served in that capacity for them, and that wasn’t a widely-held narrative probably until about the last 12 or 18 months.”

[lightfoot]

*FED CUTS BENCHMARK RATE 50 BPS, SAYS VIRUS POSES EVOLVING RISKS

wow!

It is quite obvious now that every central bank and financial regulator will use this virus to justify their failed policies on the eve of the global financial collapse.

Yep. Time to start printing free money. For the "rich".

Ignore, trade it in for bitcoins, will be like reichmarks soon enough.

[lightfoot]

Must be what the rally was about yesterday. Some peeps got wind of the cut early.

Having political "pull" helps when administrations are corrupt.

[fillippone]

*FED CUTS BENCHMARK RATE 50 BPS, SAYS VIRUS POSES EVOLVING RISKS

wow!

It is quite obvious now that every central bank and financial regulator will use this virus to justify their failed policies on the eve of the global financial collapse.

Yep. Time to start printing free money. For the "rich".

Ignore, trade it in for bitcoins, will be like reichmarks soon enough.

Helicopter money already deployed in HK.

AU CONTRAIRE.DO NOT IGNORE THIS.
You will be rich in FIAT money, but poor in real value.
Do you knwo any Billionaire in Bolivia?  plenty of them.
Can they buy a car? Nope.

BITCOIN FIXES THAT.

[lightfoot]

BITCOIN FIXES THAT.

Only if you trade the crap fiat for bitcoin. Problem is it requires someone who will trade you bitcoins for crap fiat. Remember you can't just wave your hand and make more bitcoins by magical thinking.....

[psycodad]

Never seen so much panic about most likely nothing too horrific

Hell, an average of ~102 Americans die every single day just in car accidents.

Exactly, and ~7 Americans die from falling down a stair every single day. 
About 2 a day drown in a swimming pool.
And lets not forget about all the fine Sackler products that kill ~118 people in the US each and every day. (1)

The wars kill too (especially having been there and returning home): 22 suicides of US army veterans in average per every day, roughly one per hour. (2)

If any of this is shocking to you, your personal risk assessment is terribly biased. For starters I highly recommend Dan Gardners "risk". (3)

(1) https://www.iii.org/node/32171
(2) https://en.wikipedia.org/wiki/United_States_military_veteran_suicide
(3) https://www.amazon.com/Risk-Science-Politics-Fear-Gardner/dp/0753515539/


I would also like to point out, that every single person that dies from (or with) a Corona infection is counted. But only people with serious health problems get tested and therefor counted, plus a few that come under suspicion from contacts they had.
Nobody knows how many people just had and eventually self-cured Corona in the last weeks, it's not like it's much different to regular flu - except being very mild. Ask yourself if you are going to inform the authorities when you feel like having the flu but are not in critical condition? I'd sit it out at home and don't tell anybody as I don't want to be quarantined. All these are then non-lethal infections that are not counted toward the recoveries and therefor giving a way to high lethality ratio. That leads me to conclude that while Corona is more contagious than seasonal flu atm, it is not as dangerous.

Wrt to the economy and markets it's a different thing. Extreme fear is appropriate there (hell, panic is even fine). That's the typical bespoken weak and ill patient catching a little cold that can kill him. Corona being the little cold for economy.

[Paashaas]

Never seen so much panic about most likely nothing too horrific

Now extrapolate to the entire world being infected. Cause that's the most likely scenario. Show us the numbers.

They ain't wearing bio-hazard suits for the past carnaval festivities...

I'm literally flabergasted when people think this is just a flu.

Just wait until the virus disrupts their own comfort zone realizing there is no vaccine available.

[MERlT]

Never seen so much panic about most likely nothing too horrific

Now extrapolate to the entire world being infected. Cause that's the most likely scenario. Show us the numbers.

They ain't wearing bio-hazard suits for the past carnaval festivities...

I'm literally flabergasted when people think this is just a flu.

Just wait until the virus disrupts their own comfort zone realizing there is no vaccine available.

The Sheeple don't care, but hey! Captain Trips doesn't give a fuck either.

[lightfoot]

Current population of the US is 320 million. If 50% of the people get this in some way and the death count is 2% of all cases, then we're looking at about 3.2 million dead people. Let's see what it looks like in a year or so.

[Ibian]

Current population of the US is 320 million. If 50% of the people get this in some way and the death count is 2% of all cases, then we're looking at about 3.2 million dead people. Let's see what it looks like in a year or so.

Won't take that long with this kind of exponential growth.

[bkbirge]

Current population of the US is 320 million. If 50% of the people get this in some way and the death count is 2% of all cases, then we're looking at about 3.2 million dead people. Let's see what it looks like in a year or so.

That's roughly the population size of Los Angeles. Or Houston + San Francisco. Or just the rude portion of New York City.

[goldkingcoiner]

Hey, you guys wanted population control. And your prayers were heard. Everyone has a 50 to 1 chance to survive this. May the odds be in your favor. Good luck.

[Elwar]

So, in practical terms, if this virus turns out to be fairly bad and continue at its current pace or worse...what do you think the practical implications will be?

More elderly people die earlier...so perhaps this gives a slight boost to the future economy as the costs of society caring for them goes down.

If China truly is severely affected at the factory level, we all may be stuck with our current computers/appliances/etc. and need to make sure we take care of our stuff since it may be difficult to get things for a while.

Our company is looking to other countries for our supplies...India or Vietnam. Any ideas on the best source for steel and fiberglass?

Paper fiat may face its death.

[gentlemand]

Hey, you guys wanted population control. And your prayers were heard. Everyone has a 50 to 1 chance to survive this. May the odds be in your favor. Good luck.

I am typing this from the interior of my mausoleum. I commissioned a stone keyboard too. If you start living like a dead person right now the chances are extremely high that you'll survive.

[goldkingcoiner]

If you start living like a dead person right now the chances are extremely high that you'll survive.

With that logic I am going to be reborn at least another 4 times.

So, in practical terms, if this virus turns out to be fairly bad and continue at its current pace or worse...what do you think the practical implications will be?

More elderly people die earlier...so perhaps this gives a slight boost to the future economy as the costs of society caring for them goes down.

If China truly is severely affected at the factory level, we all may be stuck with our current computers/appliances/etc. and need to make sure we take care of our stuff since it may be difficult to get things for a while.

Our company is looking to other countries for our supplies...India or Vietnam. Any ideas on the best source for steel and fiberglass?

Paper fiat may face its death.

You know, from a marketing perspective, we should distribute the message that touching filthy fiat money is unwise now that we have the coronavirus going around. Buy Bitcoin. It wasn't touched by a sick person!

[bkbirge]

Paper fiat may face its death.

Can you imagine a gov't telling all it's citizens to stop using cash because of potential virus transfer, and instead use only crypto? Of course it would be a CBDC they'd direct everyone to use but still.

[lightfoot]

So, in practical terms, if this virus turns out to be fairly bad and continue at its current pace or worse...what do you think the practical implications will be?

Hopefully people will finally realize that Reality Exists

More elderly people die earlier...so perhaps this gives a slight boost to the future economy as the costs of society caring for them goes down.

Social Security will be saved which is a good thing. Also given that Boomers were the only Demographic to go for Trump, their deaths will help the current political climate significantly. As I mentioned before: If the Corona czar mandates early voting next week in battleground states, you know it's going to be bad.

If China truly is severely affected at the factory level, we all may be stuck with our current computers/appliances/etc. and need to make sure we take care of our stuff since it may be difficult to get things for a while.

Very bullish for local businesses that can specailize in fixing appliances. Also good for the environment as less stuff will go to landfills.

Oddly enough, I might be a barometer for this: If people start looking to fix miners more instead of buying new ones I should be able to pick that up in requests. Hm.....

Paper fiat may face its death.

Bad. Say goodbye to anonymity. Ok, so this virus isn't 100% good news.

[d_eddie]

Dow-Jones Industrial sat on a wall
With Standard and Poor's, he took a great fall
And all the King's printers and all the King's hoes
Couldn't bring either back on their toes

[bkbirge]

Paper fiat may face its death.

Bad. Say goodbye to anonymity. Ok, so this virus isn't 100% good news.

https://cointelegraph.com/news/from-taxes-to-transparency-the-irs-gets-schooled-on-crypto

Spiro continued to advance the transparency of the blockchain as an advantage to regulators: “You’re going to see that transaction lifecycle. [...] As an investigator, you have a wallet address.”

An audience member who had believed that Bitcoin’s charm lay in its anonymity asked: “So that’s a myth?” Spiro affirmed, “That is a myth.”