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

[JayJuanGee]

No need to act like panicking stock boyz who cry like babies at a 5 percent drop, Bitcoiners were built for big swings. Its all just noise on the way to 100k.

Yes we are definitely going to 100k and this current global rout will probably even increase the speed that we get there. Money printing on the way.

Maybe global pandemic and a lot of the hoopla and hype about that can allow for the economy to correct, to some extent without having to engage in money printing?  If the global economy goes through a major correction, then it is merely blamed on a pandemic, and at the same time, there is an ability to reign in bullshit irresponsibilities in regards to various fiats, no?  Why does global pandemic automatically result in more currency printing when allowing a crash can actually accomplish similar kinds of corrective mechanisms that are actually needed in terms of allowing bubbles to play themselves out in free market kinds of ways, no?

I am not saying that bitcoin still would not do well in this situation, but I doubt that such a situation of a major correction in the fiat market (which seems to be far over due) automatically results in more printing, especially if there are many BIG players that realize that the overexuberance in money printing is way out of hand, anyhow.

It is not like everyone in the regular fiat world is stupid in terms of engaging in various strategies to attempt to continue to prop matters up and to allow some corrections to play themselves out, especially if such corrections are merely born by poor people, even though the status quo power players might get stuck in policies that are hard to get out of on a quite frequent basis.

[bkbirge]

https://www.msn.com/en-us/money/markets/over-dollar21-billion-wiped-off-cryptocurrency-market-in-24-hours-after-massive-oil-price-plunge

"For those who have long term investment horizons, bitcoin is absolutely a buy during these dips," Jehan Chu, co-founder of Kenetic Capital, an investor in blockchain start-ups told CNBC. "We can expect more of this volatility sparked by macro health and financial shocks, but ultimately long term investments in the digital future and it's key asset Bitcoin will be a winning strategy"

[Ibian]

Pity I missed all the TP/bidet/towel/ass-shit talk, I have a feeling that I would have thrived.

Can we elaborate on disposable baby wipes, now that oil is down please?
I've been using them for years.

Seriously, TP sucks.
Wipe off your ass perfectly clean (so you think) with TP, and then use a baby wipe.
You're welcome.

Basically it beats the shower and the hassle.
Especially if your ass is hairy.

Anyway, back to COV.

Thailand may be bass ackwards but at least they have the toilet thing figured out.

Can say from experience that they have not figured it out. They get clogged ALL THE TIME. It's one of the two Great Thai Curses (the other being ladyboys. they are grabby and do not understand a no).

[serveria.com]

I am buying here some. I don't care if it goes lower. I can keep my sanity till it its $3k.

Why am I buying? Because I know for sure it will be back above $9k again. Might be tomorrow, might be next year but it will happen.

Vegeta will make a comeback.

$7750 btw fuck. MasterLuc is having a party.

Masterluc said 6k...

[LFC_Bitcoin]

I am buying here some. I don't care if it goes lower. I can keep my sanity till it its $3k.

Why am I buying? Because I know for sure it will be back above $9k again. Might be tomorrow, might be next year but it will happen.

Vegeta will make a comeback.

$7750 btw fuck. MasterLuc is having a party.

Masterluc said 6k...

Pretty sure he predicted it as normal market behaviour too & not as a result of a load of pathetic weak hands crumbling because of people getting flu.

[JSRAW]

[mindrust]

Master Luc didn't give us a price. He just pointed out the supports and resistances. Please learn to read charts.

%20 drop from 10k+ is enough for me to call him a legend.

It may go to 6k or not from here. I am happy with what I got. God bless him. Added some more cheap corn to my stash. Yay

[Ibian]

One thing to think about with the numbers of infected/recovered vs deaths..

I spent about 7 years doing modeling and simulations of military radio networks. We would have fake traffic passing through the network and at the end check to see the throughput.

We did a few simulations that had a short time period because it was simulating a full division battle. The results were very poor. A huge percentage of messages did not finish sending. The government would not accept such poor numbers so we were scrambling trying to figure out such low performance.

As I started combing through the failed messages I started seeing a pattern. Nothing was really blocking them, it was just that the simulation was cut off soon after they were sent (Like sending a message at 9:59 and the simulation ends at 10:00.

So I stopped all transmissions at the previous end of simulation and continued until about double the time. The throughput shot up to close to 99% (the government was satisfied with our numbers and funding continued).


There may be 1000 people infected, but the recovery takes 2-4 weeks for most people (from the time they start to show symptoms). This means that it will take about 4 weeks for those 1000 people to register as "recovered", in the mean time many more people are infected. The numbers are always shifting. Both the deaths and the number of recoveries. You need to look at the infected numbers of weeks ago and compare those to the current death and recovery numbers to get the accuracy.

Yeah let's look at that. 3% by the way The Experts calculate it now. But the infected number needs to be halved four times let's say.

Out of 100 infected we have 3 dead. So cut the infected number in half to 50... 25... 12.5... 6.25. We are looking at a 50% death rate with that method. Even at only 2 weeks it's at 12%.

You guys still wanna calculate things this way? Or can we finally start using the correct method, death/(death+cured)?

[Lambie Slayer]

Who panic sold the bottom?

We are in the Bargain Buy Zone for 2020, it wont be around for long.

[somac.]

No need to act like panicking stock boyz who cry like babies at a 5 percent drop, Bitcoiners were built for big swings. Its all just noise on the way to 100k.

Yes we are definitely going to 100k and this current global rout will probably even increase the speed that we get there. Money printing on the way.

Maybe global pandemic and a lot of the hoopla and hype about that can allow for the economy to correct, to some extent without having to engage in money printing?  If the global economy goes through a major correction, then it is merely blamed on a pandemic, and at the same time, there is an ability to reign in bullshit irresponsibilities in regards to various fiats, no?  Why does global pandemic automatically result in more currency printing when allowing a crash can actually accomplish similar kinds of corrective mechanisms that are actually needed in terms of allowing bubbles to play themselves out in free market kinds of ways, no?

I am not saying that bitcoin still would not do well in this situation, but I doubt that such a situation of a major correction in the fiat market (which seems to be far over due) automatically results in more printing, especially if there are many BIG players that realize that the overexuberance in money printing is way out of hand, anyhow.

It is not like everyone in the regular fiat world is stupid in terms of engaging in various strategies to attempt to continue to prop matters up and to allow some corrections to play themselves out, especially if such corrections are merely born by poor people, even though the status quo power players might get stuck in policies that are hard to get out of on a quite frequent basis.

For central banks, a correction is fine so long as credit (debt) is still being created by the private banks. If credit shrinks instead and hence the money supply with it, then we have deflation and that can not be tolerated for long. Deflation will destroy the modern monetary system and, governments and the institutions with it. Therefore, the CBs have to do what ever it takes to prevent this, and if they see credit creation decrease and even look like it is going negative they will print big time (and direct that printing where ever necessary) to try and get credit/debt going again.

To understand why a decrease in credit creation is so deadly is to understand how money is created. Hint, the CBs don't create most of the money (only the cash component) they instead generally create cash reserves. It is the private banks who expand our money supply (97% of supply is private bank money. Also peasants are only allowed to use CB money in form of cash not electronic). In short if private bank money is not being created (through new debt) nobody will be able to pay the interest component because there is not enough money in the system to do so.

So, this pandemic is a deflationary event, either through illness or panic, doesn't matter which. Therefore the CBs need to start printing those reserves up pronto to counter any deflation (contraction in private credit).

[JayJuanGee]

Master Luc didn't give us a price. He just pointed out the supports and resistances. Please learn to read charts.

%20 drop from 10k+ is enough for me to call him a legend.

It may go to 6k or not from here. I am happy with what I got. God bless him. Added some more cheap corn to my stash. Yay

Sounds like you are looking for a leader and a sorcerer to help you to feel good about ur lil selfie and to confirm the movement of bitcoin is knowable by some superior being.


Thank you Masterluc for providing us with this lovely BTC buying price..


Thank you master luc

Thank you.

[Lambie Slayer]

These misleading mortality fake news stats have caused school girl hysteria for the feint of heart.

Case fatality(percent of cases confirmed by tests that die) is a silly stat when you arent testing most people. Infection fatality(what percent of all infections lead to death) is the true mortality rate.

Little school girls and old women have been alarmed bc they couldnt process the difference between case fatality rate in an environment where govs purposely dont test everyone, and infection fatality rate which as shown by the Diamond Princess is low even for people 20 years older than the average person.

The true percent of all people who get infected that die is much less than 1 percent. Probably just double or triple a bad flu season.

King Bitcoin isnt for the weak, the foolish, the soft, or the naive. Shorters who dont cover at this peak of silly panic will be rekt.

[mindrust]

MasterLuc 2020!  

The only guy can beat Trump.

Update from,

Too easy.

This is getting serious btw.

There will be a huge move soon. Can't really predict the direction. Halvening vs Recession.  

*Going below the blue line is pretty much, $6k.

[JayJuanGee]

No need to act like panicking stock boyz who cry like babies at a 5 percent drop, Bitcoiners were built for big swings. Its all just noise on the way to 100k.

Yes we are definitely going to 100k and this current global rout will probably even increase the speed that we get there. Money printing on the way.

Maybe global pandemic and a lot of the hoopla and hype about that can allow for the economy to correct, to some extent without having to engage in money printing?  If the global economy goes through a major correction, then it is merely blamed on a pandemic, and at the same time, there is an ability to reign in bullshit irresponsibilities in regards to various fiats, no?  Why does global pandemic automatically result in more currency printing when allowing a crash can actually accomplish similar kinds of corrective mechanisms that are actually needed in terms of allowing bubbles to play themselves out in free market kinds of ways, no?

I am not saying that bitcoin still would not do well in this situation, but I doubt that such a situation of a major correction in the fiat market (which seems to be far over due) automatically results in more printing, especially if there are many BIG players that realize that the overexuberance in money printing is way out of hand, anyhow.

It is not like everyone in the regular fiat world is stupid in terms of engaging in various strategies to attempt to continue to prop matters up and to allow some corrections to play themselves out, especially if such corrections are merely born by poor people, even though the status quo power players might get stuck in policies that are hard to get out of on a quite frequent basis.

For central banks, a correction is fine so long as credit (debt) is still being created by the private banks. If credit shrinks instead and hence the money supply with it, then we have deflation and that can not be tolerated for long. Deflation will destroy the modern monetary system and, governments and the institutions with it. Therefore, the CBs have to do what ever it takes to prevent this, and if they see credit creation decrease and even look like it is going negative they will print big time (and direct that printing where ever necessary) to try and get credit/debt going again.

To understand why a decrease in credit creation is so deadly is to understand how money is created. Hint, the CBs don't create most of the money (only the cash component) they instead generally create cash reserves. It is the private banks who expand our money supply (97% of supply is private bank money. Also peasants are only allowed to use CB money in form of cash not electronic). In short if private bank money is not being created (through new debt) nobody will be able to pay the interest component because there is not enough money in the system to do so.

So, this pandemic is a deflationary event, either through illness or panic, doesn't matter which. Therefore the CBs need to start printing those reserves up pronto to counter any deflation (contraction in private credit).

We can agree to disagree.  I just don't see the obvious link that continued outrageous levels of money printing is an automatic result of this, and I do see an economic slowdown as a possibility to reign matters in a bit.  

Sure, I am not saying that the powers that be, CB et al are NOT going to completely stop acting irresponsibly and even giving money away to the rich, but seems to me that global events (such as a pandemic crisis) can also create corrective opportunities that are more responsible than what the CBs et al would otherwise attempt to cause regular peeps and even the chinese to bear costs of the various earlier irresponsible of the money printers.

[Ibian]

Infection fatality(what percent of all infections lead to death) is the true mortality rate.

That's 12-50%. You are arguing against your own interests now.

[somac.]

These misleading mortality fake news stats have caused school girl hysteria for the feint of heart.

Case fatality(percent of cases confirmed by tests that die) is a silly stat when you arent testing most people. Infection fatality(what percent of all infections lead to death) is the true mortality rate.

Little school girls and old women have been alarmed bc they couldnt process the difference between case fatality rate in an environment where govs purposely dont test everyone, and infection fatality rate which as shown by the Diamond Princess is low even for people 20 years older than the average person.

The true percent of all people who get infected that die is much less than 1 percent. Probably just double or triple a bad flu season.

King Bitcoin isnt for the weak, the foolish, the soft, or the naive. Shorters who dont cover at this peak of silly panic will be rekt.

At this point the virus is no longer that relevant. In traditional markets, this initial virus sell off has now exposed all the band-aid fixes, and can kicks that CBs have been doing for the last 11 years. Today's (Asia's today) sell off is about these can kicks now coming undone. The virus was just the trigger, that's all, this thing has now morphed into another financial crisis just like 2008, and once again it is deflation that is scaring them.

[somac.]

No need to act like panicking stock boyz who cry like babies at a 5 percent drop, Bitcoiners were built for big swings. Its all just noise on the way to 100k.

Yes we are definitely going to 100k and this current global rout will probably even increase the speed that we get there. Money printing on the way.

Maybe global pandemic and a lot of the hoopla and hype about that can allow for the economy to correct, to some extent without having to engage in money printing?  If the global economy goes through a major correction, then it is merely blamed on a pandemic, and at the same time, there is an ability to reign in bullshit irresponsibilities in regards to various fiats, no?  Why does global pandemic automatically result in more currency printing when allowing a crash can actually accomplish similar kinds of corrective mechanisms that are actually needed in terms of allowing bubbles to play themselves out in free market kinds of ways, no?

I am not saying that bitcoin still would not do well in this situation, but I doubt that such a situation of a major correction in the fiat market (which seems to be far over due) automatically results in more printing, especially if there are many BIG players that realize that the overexuberance in money printing is way out of hand, anyhow.

It is not like everyone in the regular fiat world is stupid in terms of engaging in various strategies to attempt to continue to prop matters up and to allow some corrections to play themselves out, especially if such corrections are merely born by poor people, even though the status quo power players might get stuck in policies that are hard to get out of on a quite frequent basis.

For central banks, a correction is fine so long as credit (debt) is still being created by the private banks. If credit shrinks instead and hence the money supply with it, then we have deflation and that can not be tolerated for long. Deflation will destroy the modern monetary system and, governments and the institutions with it. Therefore, the CBs have to do what ever it takes to prevent this, and if they see credit creation decrease and even look like it is going negative they will print big time (and direct that printing where ever necessary) to try and get credit/debt going again.

To understand why a decrease in credit creation is so deadly is to understand how money is created. Hint, the CBs don't create most of the money (only the cash component) they instead generally create cash reserves. It is the private banks who expand our money supply (97% of supply is private bank money. Also peasants are only allowed to use CB money in form of cash not electronic). In short if private bank money is not being created (through new debt) nobody will be able to pay the interest component because there is not enough money in the system to do so.

So, this pandemic is a deflationary event, either through illness or panic, doesn't matter which. Therefore the CBs need to start printing those reserves up pronto to counter any deflation (contraction in private credit).

We can agree to disagree.  I just don't see the obvious link that continued outrageous levels of money printing is an automatic result of this, and I do see an economic slowdown as a possibility to reign matters in a bit.  

Sure, I am not saying that the powers that be, CB et al are NOT going to completely stop acting irresponsibly and even giving money away to the rich, but seems to me that global events (such as a pandemic crisis) can also create corrective opportunities that are more responsible than what the CBs et al would otherwise attempt to cause regular peeps and even the chinese to bear costs of the various earlier irresponsible of the money printers.

Fair enough. All I'm saying is that I think the reason you can't see is because you probably don't know what money we actually use and how it is actually created.

[Murat]

This was unexpected but I think this a very good opportunity to buy more Bitcoins!

Target - 7500~

[podyx]

Are we really gonna see an international market crash because of the virus?

It seems kinda fishy.

[Ibian]

Are we really gonna see an international market crash because of the virus?

It seems kinda fishy.

No, but possibly with the virus as the excuse.