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

[Elwar]

This whole thing where bitcoin price is following the stock market tells us one thing.

We need to shift the focus of Bitcoin from market and price to utility and actually using it as a currency. Every ETF, every BitPay obstacle they create for paying with bitcoin (while encouraging you to use shitcoins instead), every regulation that makes people prove their entire history of life before they can spend their bitcoins, every ATM shut down by stupid crypto agencies takes us away from that.

Bitcoin should be what people are running to right now. They should be dumping their useless government backed stocks, commodities, fiat, etc. and begging for Bitcoin to save them from the government tyranny that is about to wipe out their worth.

People should be going on OpenBazaar right now ordering 100 rolls of black market toilet paper and hand sanitizer with confidence that the seller has a 100% rating for his righteous bud. Using Bitcoin. Shops should be confident that their solar powered Bitcoin payment app will connect to the lightning funded mesh network with no interference. Preppers should know that if they need to bitcoin fund an uber ride to a private bitcoin funded jet can take them to their bitcoin funded VRBO some place far away from the hysteria.

You should be able to fund your p2p electric and water with lightning contracts and easily receive your bitcoin funded drone deliveries to your bitcoin funded seastead timeshare that's recorded on the blockchain.

This is where Bitcoin users need to focus instead of cheering on new ETFs and links to the ancient stock market.

[El duderino_]

Someone make the bleeding stop already. This is just nasty.

Sometimes we need nasty........ though I prefer without nasty 

[jojo69]

the time for bullshit is over

[nutildah]

This whole thing where bitcoin price is following the stock market tells us one thing.

We need to shift the focus of Bitcoin from market and price to utility and actually using it as a currency. Every ETF, every BitPay obstacle they create for paying with bitcoin (while encouraging you to use shitcoins instead), every regulation that makes people prove their entire history of life before they can spend their bitcoins, every ATM shut down by stupid crypto agencies takes us away from that.

Bitcoin should be what people are running to right now. They should be dumping their useless government backed stocks, commodities, fiat, etc. and begging for Bitcoin to save them from the government tyranny that is about to wipe out their worth.

People should be going on OpenBazaar right now ordering 100 rolls of black market toilet paper and hand sanitizer with confidence that the seller has a 100% rating for his righteous bud. Using Bitcoin. Shops should be confident that their solar powered Bitcoin payment app will connect to the lightning funded mesh network with no interference. Preppers should know that if they need to bitcoin fund an uber ride to a private bitcoin funded jet can take them to their bitcoin funded VRBO some place far away from the hysteria.

You should be able to fund your p2p electric and water with lightning contracts and easily receive your bitcoin funded drone deliveries to your bitcoin funded seastead timeshare that's recorded on the blockchain.

This is where Bitcoin users need to focus instead of cheering on new ETFs and links to the ancient stock market.

[strawbs]

This whole thing where bitcoin price is following the stock market tells us one thing.

We need to shift the focus of Bitcoin from market and price to utility and actually using it as a currency.

Totally agree.  However, that's been the case for years and similar posts have been on this very thread since I started reading it in 2014. Unfortunately, the whole 'HODL until I'm rich' mentality has undermined the very purpose of BTC.

Oh, and can we finally put to bed the whole idea of BTC as a safe haven - whilst global stock markets face their worst day since the 2008 financial crisis, BTC tanks even more.  If BTC really was a safe haven, it would be mooning now. Gold still seems to be the haven of choice.

[mindrust]

Oh, and can we finally put to bed the whole idea of BTC as a safe haven - whilst global stock markets face their worst day since the 2008 financial crisis, BTC tanks even more.  If BTC really was a safe haven, it would be mooning now. Gold still seems to be the haven of choice.

BTC is a safe haven. It is just people are too dumb to understand that.

They will only understand it when they can't use banks anymore.

Let's have this talk again when banks collapse and don't allow people to access their accounts. Remember Greece? Cyprus?

[strawbs]

Oh, and can we finally put to bed the whole idea of BTC as a safe haven - whilst global stock markets face their worst day since the 2008 financial crisis, BTC tanks even more.  If BTC really was a safe haven, it would be mooning now. Gold still seems to be the haven of choice.

BTC is a safe haven. It is just people are too dumb to understand that.

They will only understand it when they can't use banks anymore.

Let's have this talk again when banks collapse and don't allow people to access their accounts. Remember Greece? Cyprus?

Sure, I agree BTC is a safe haven, I should have said it's not seen as a safe haven by most people.

[lightfoot]

Someone make the bleeding stop already. This is just nasty.

I've switched from munching popcorn to munching pistachio nuts.

This is going to be delicious.

[Torque]

Hey look, it's more "QE4-but-not-QE4" !

https://www.cnbc.com/2020/03/09/fed-to-step-up-liquidity-injections-to-guard-against-market-pressure.html

[lightfoot]

Trump may still have the trader mentality and he sees this huge dip as a buying opportunity.

It is. For those with fiat (poor souls)

He also believes there needs to be money pumped into the economy to get things on track...

So...print money and buy cheap stock...he likely believes the virus is all hype so he believes the markets will bounce back (especially after pouring a bunch of printed money into the economy).

Might be right, however if the underlying infrastructure is being damaged due to the responses to this virus it's still going to be a shit-ton of wealth knocked off the table. Kind of like in 2008 when CDO's vanished and a huge hole was placed into M3. The solution then was to print money to fill the hole. Not sure if that's going to work this time.

Result...billions in gains for the US government. Game over for Democrats.

In his mind at least.

Reality...he is trying to fight a bubble that popped.

How so? Is the Govt going to invest the SS surplus into the market? There is no SS surplus, only a big pile of IOU's....

This is really going to be interesting to watch: What happens when there is a house fire in a grifter hotel....

[mindrust]

Coincidence? I don't think so.

[OutOfMemory]

All of us in January when we learned about corona virus...

https://twitter.com/panama_tj/status/1236793863127347200?s=21

VIDEO ATTACHED

Best part is when daddy finally runs and abandons his family.
Instant divorce reason, imho.

I read some opinion on titter today, that the dumps are caused by miners to buy rigs in anticipation to the halvening.
Would make quite some sense.

[fillippone]

All of us in January when we learned about corona virus...

https://twitter.com/panama_tj/status/1236793863127347200?s=21

VIDEO ATTACHED

Best part is when daddy finally runs and abandons his family.
Instant divorce reason, imho.

I read some opinion on titter today, that the dumps are caused by miners to buy rigs in advance to the halvening.
Would make quite some sense.

Can you provide a reference for this?
Would be nice to confirm honey badger doesn’t give a fuck and follows his own logic while the rest of the world routs.

[El duderino_]

Wall Street shut down, BTC can't be shut down and goes on naturally as how all things should go!

Time people see those kind of things.

[lightfoot]

Best part is when daddy finally runs and abandons his family.
Instant divorce reason, imho.

This was from a French comedy, Force Majure if I recall correctly.

[Icygreen]

This whole thing where bitcoin price is following the stock market tells us one thing.

We need to shift the focus of Bitcoin from market and price to utility and actually using it as a currency.

Totally agree.  However, that's been the case for years and similar posts have been on this very thread since I started reading it in 2014. Unfortunately, the whole 'HODL until I'm rich' mentality has undermined the very purpose of BTC.

Oh, and can we finally put to bed the whole idea of BTC as a safe haven - whilst global stock markets face their worst day since the 2008 financial crisis, BTC tanks even more.  If BTC really was a safe haven, it would be mooning now. Gold still seems to be the haven of choice.

BTC following the stock market should not necessarily be a concern.  Whales in this space alike the small guy are also deep into other markets. Margin calls will need liquidity and its only natural that its taken from the profit zones (BTC) to do it. Bitcoin has proven itself time after time and is a re-education camp for monetary policy.  When there are no more profits to extract from BTC, the hedges will fall right back where they make sense.

[JimboToronto]

Good morning Bitcoinland.

The dip continues... currently $7736USD/$10513CAD (Bitcoinaverage).

Bitcoin, the stock market, crude oil are all down. Does this mean the dollar (and other fiat) is rallying?

Excellent time to sell your overpriced fiat.

Someone make the bleeding stop already. This is just nasty.

I've switched from munching popcorn to munching pistachio nuts.

This is going to be delicious.

I'll munch ribeyes and filet mignon. Maybe some carnitas too. Yum.

Seeds? Aren't they livestock fodder?  

[El duderino_]

Smart money would need to go into a BTC asset.... Why is the world so filled with the dumb?

[lightfoot]

Crap! I pulled all the fiat to buy bitcoins and stuff awhile ago. Need to dip into gold here. Drat-ola.

[DaRude]

Time to buy corn