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

[Paashaas]

Spain reports 372 new cases and 11 new deaths, raising total to 2,067 cases and 47 dead.

The weather in Spain is nice 20°C - 30°C...

[mindrust]

blah blah blah.. no excuses. BTC was designed to shine in a moment like this. And we are failing.

As a HODLer i'll keep my faith, while singing...

I'm taking a ride
With my best friend
I hope he never lets me down again

go Honey Badger, go!!

BTC is designed so shine against inflation and non-functioning banking system tbh.

It is not a hedge against pandemics.

Negative rates, QE, banks going down; bitcoin goes up.

Every other negative scenario takes bitcoin down too

[bitebits]

A 5-digit BTC not asking for more .... in the short term 

We will never see a five digit bitcoin again (trying to jinx it )

[Wilhelm]

A 5-digit BTC not asking for more .... in the short term  

We will never see a five digit bitcoin again (trying to jinx it )

we will never see 6 digit Bitcoin

[_javi_]

BTC was designed to shine in a moment like this.

It was designed to be a peer-to-peer version of electronic cash, not a "store of value" or something people buy and hope goes up in value so they can sell it at a higher price. The only thing we know for sure is that if bitcoin loses value, it won't be due to its own inflation.

So we shouldnt OBSERVE BTC/USD, and this thread is pointless?

[serveria.com]

We need to cleanse these people from the population.

Jawohl, mein Fuhrer. 

[nutildah]

BTC was designed to shine in a moment like this.

It was designed to be a peer-to-peer version of electronic cash, not a "store of value" or something people buy and hope goes up in value so they can sell it at a higher price. The only thing we know for sure is that if bitcoin loses value, it won't be due to its own inflation.

So we shouldnt OBSERVE BTC/USD, and this thread is pointless?

No.

It's possible to both observe the price of BTC and recognize what Satoshi intended it for. I mean I have a position open right now and I definitely want it to go up in price too, but I'm just saying, it wasn't designed to do well in times of panic. I'm not sold on the whole "safe haven" asset thing yet either. So far this year, it receives a failing grade in that regard. We have yet to fully witness how BTC does in a bear stock market / recession / depression.

Edit: I am upgrading the "failing grade" to a C, after examining it compared to the SPY. The standard for safe haven investments remains the dollar.

[Ibian]

BTC was designed to shine in a moment like this.

It was designed to be a peer-to-peer version of electronic cash, not a "store of value" or something people buy and hope goes up in value so they can sell it at a higher price. The only thing we know for sure is that if bitcoin loses value, it won't be due to its own inflation.

It was specifically meant to go way up in price. Otherwise it would never have gotten off the ground. Let's not pretend that we are not here mostly for the sake of making money.

[Ibian]

We need to cleanse these people from the population.

Jawohl, mein Fuhrer. 

Hitler was a very good boy.

[bitserve]

Spain reports 372 new cases and 11 new deaths, raising total to 2,067 cases and 47 dead.

The weather in Spain is nice 20°C - 30°C...

Where I am it is right now at around 30, even slightly higher at some times of the day. The number of infected is VERY low in comparison to the rest of Spain. If it keeps that way it will probably confirm that higher temps and dry climate really do help in stopping the spreading of the virus.

Good thing this has happened right at the start of the good weather.

[nutildah]

It was specifically meant to go way up in price. Otherwise it would never have gotten off the ground.

I don't remember Satoshi saying that.

Let's not pretend that we are not here mostly for the sake of making money.

So how does constantly espousing genocidal solutions to problems beyond your control make you money?

Hitler was a very good boy.

Ah, I see, you're filling in for roach while he's gone. Heaven forbid the thread be free of his level of stupidity for one day.

[jojo69]

[Ibian]

It was specifically meant to go way up in price. Otherwise it would never have gotten off the ground.

I don't remember Satoshi saying that.

Which is not relevant at all.

Let's not pretend that we are not here mostly for the sake of making money.

So how does constantly espousing genocidal solutions to problems beyond your control make you money?

Which ones? There are so many.

[Icygreen]

reform is coming
Bitcoin is positioning
hold because you know

[d_eddie]

Due to epidemic-related emergency triage rules, sMerit is now rationed. No legendaries can be awarded sMerit until further notice. WOsMerit can still be distributed as usual.

+1 WOsMerit

shit's getting real if Ibian is considered as the reasonable and serious one.

+1 WOsMerit

Its the extreme leftists Bernie would appoint to power that I would worry about most. A Bernie Fed ran by a communist bartender chick could easily ban Bitcoin.

These seem to be baseless, McCarthy era-level fears. I hope you don't actually believe this and are just using hyperbole to state your beliefs. Regardless, you're right in that its almost a moot point. America can now prepare itself for 4 more years of mediocrity and flow of wealth from the middle class to the rich.

What middle class?

+1 WOsMerit

blah blah blah.. no excuses. BTC was designed to shine in a moment like this. And we are failing.

It don't matter what it was designed to do. What matters is how it's treated and perceived by its present owners. Most of them treat as the frilliest end of their betting slip.

+1 WOsMerit

[nutildah]

It was specifically meant to go way up in price. Otherwise it would never have gotten off the ground.

I don't remember Satoshi saying that.

Which is not relevant at all.

It's entirely relevant, because you're saying you know more about what Satoshi wanted from bitcoin than he did.

Satoshi never speculated on the price of bitcoin. He worked hard to made sure that it worked, but he never promised it would go "way up in price," because only con artists and charlatans use that kind of talk.

We (or more accurately, bitcoin users) give bitcoin value by using it for its primary purpose: acting as a currency. It's one of bitcoin's intrinsic properties that makes it cool. Like I've said before, gold has value not just because it is scarce; it has value because you can do cool shit with it.

[bkbirge]

I'm not sure I'd call him a gold 'bug' anymore, more like a gold 'troll'.
https://cointelegraph.com/news/peter-schiff-oblivious-as-bitcoin-retakes-gold-as-safe-haven-ytd

For those who believe Bitcoin is “digital gold”, data shows the two assets out of sync on the monthly time frame but both Bitcoin and gold are up 9.45% and 8.82% in 2020. This suggests that regardless of the fact that Bitcoin price has dropped by 14.85% since March 7, some traders still view the asset as a hedge against volatility.

Unsurprisingly, staunch Bitcoin critic Peter Schiff seems to believe otherwise and he capitalized on Bitcoin’s recent poor performance by tweeting:

    “Bitcoin is no longer a non-correlated asset. It's positively correlated to risk assets like equities, and negatively correlated to safe-haven assets like gold. When risk assets go down, Bitcoin goes down more. But when risk assets go up, Bitcoin goes up less. No value in that!”

[El duderino_]

A 5-digit BTC not asking for more .... in the short term  

We will never see a five digit bitcoin again (trying to jinx it )

we will never see 6 digit Bitcoin

We will never see 9 digit 

[JimboToronto]

Good morning Bitcoinland.

Sideways... $7860USD/$10804CAD (Bitcoinaverage).

Ho hum.

What middle class?

Employees.

[psycodad]

<snip>

- Slovenia, Switzerland closing borders with Italy.

<snip>

TFTFY, the federal council publicly rejected any rumours that it's closing borders to Italy. There are health checks in place now, and people that do not work in Switzerland get recommended to return to Italy by customs, but there is no legal base currently for rejecting entering Switzerland. Who wants to cross the border can cross the border.

Also this most probably will not happen, as the healthcare in southern Switzerland (Ticino) is basically run by Italian cross-border commuters ('frontalieri').
Same is valid for northern Switzerland, there it are the German and French cross-border commuters keeping healthcare running.

Switzerland has (as of posting this) 645 cases reported / 613 confirmed, 3 death so far (all already in critical condition before infection). These numbers will change once the ICU capacity is used up but it's still looking like a slightly more contagious but slightly less dangerous flu.

2019 ~210'000 patients in Switzerland saw their doctors due to a seasonal flu infection. ~1500 died 2019 in Switzerland from the seasonal flu.
And mind you there is even a vaccine for the flu, so this might be much higher without the availability of a vaccine.

I hate to disappoint the millenials but unfortunately this surely won't get them rid of the boomers.