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

[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

[1714942062]

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[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.

[VB1001]

We need to cleanse these people from the population.

Jawohl, mein Fuhrer. 

Hitler was a very good boy.

The Fuhrer compared to you is a communist.

[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

We will never see 9 digit 

If this happens we will have a beer in space 

[Torque]

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.

You guys can play the whole "Bitcoin was designed for..." debate all you want.

But the bottom line is this: no one is going to buy Bitcoin at a 1.5% broker cost, wait 4 business days to receive it, go through the hassle to use it as a version of "electronic cash" to purchase something over the internet (at VERY limited merchants, mind you), without at least recouping their 1.5% broker cost for all the trouble (not to mention transaction fees, if any).  Thus the need for it to go up in price from whence they purchased, and this requires holding.

And they sure as shit aren't going to use it immediately as "electronic cash" if they find themselves severely underwater. Because then what is the point?

^{(Can you tell that I'm so over this PTP electronic cash vs. store of value debate? It's both.)}

[nutildah]

You guys can play the whole "Bitcoin was designed for..." debate all you want.

But the bottom line is this: no one is going to buy Bitcoin at a 1.5% broker cost, wait 4 business days to receive it, go through the hassle to use it as a version of "electronic cash" to purchase something over the internet (at VERY limited merchants, mind you), without at least recouping their 1.5% broker cost for all the trouble.  Thus the need for it to go up in price from whence they purchased.

And they sure as shit aren't going to use it immediately as "electronic cash" if they find themselves severely underwater. Because then what is the point?

^{(Can you tell that I'm so over this PTP electronic cash vs. store of value debate? It's both.)}

I've been getting paid in it and using it for payments for so long, I forgot what the average person had to do in order to get it.

There are certain instances when it makes more sense to transfer money in the form of bitcoin than fiat. Remittances, for example. For large amounts of money (any amount of money, really) its cheaper to buy the bitcoin and send it across the world than to rely on Western Union or Moneygram. In some cases, it may be a tremendously money-saving idea to use bitcoin.

For example, I sent $40 just the other day, and the fee was $5, which is 12.5%. If I could have sent it in bitcoin, the fee would have been less than 1%. Of course the other person would need an option to cash the bitcoin out to their local currency, but that's more a matter of the infrastructure not being there -- yet.

Nobody's suggesting you pay for your Snickers bar at the 7-Eleven with BTC; that's simply impractical. Obviously its not better than real cash for all types of transactions, but it is for some, and its a matter of having the infrastructure in place for the rest.

[jbreher]

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

Seven digits are right out.

The number of eight digits shall not be counted, unless proceeding directly to nine digits.

[OutOfMemory]

We need to cleanse these people from the population.

Jawohl, mein Fuhrer. 

Seems you ran out of these: üüüüüüüüüüüü ÜÜÜÜÜÜÜÜÜÜÜÜ
For you to copy/paste next time 

[Hueristic]

Anyone who believes anything from china, or WHO, can not be taken serious.

Eventually natural immunities will develop and herd immunity will kick in. But not before at least 80% of the population is infected. This is not guessing, we can compare with other diseases with similar infectiveness.

There is no possibility that the entire west will not be infected.

Yet on Diamond Princess, about 20% got infected.

Idiots do not know how to form a correct premise in order to achieve an educated projection. Just having quarantine procedures let alone know their effect skews that projection so massively as to make it meaningless.

It's like the tards that keep saying the market will continue to repeat without taking the changes in the market place into account.

[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 

If this happens we will have a beer in space 

And beyond

[Indymoney]

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 

If this happens we will have a beer in space 

And beyond

9 Digit is dream of every bitcoiner but not near soon will take many decades.

[BitcoinGirl.Club]

Good afternoon WO!
Observing @ $7,781

Get ready for Anfield match 😜

[VB1001]

https://twitter.com/WHO

[Hueristic]

Good morning Bitcoinland.

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

Ho hum.

What middle class?

Employees.

Serfs.

[Hueristic]

You guys can play the whole "Bitcoin was designed for..." debate all you want.

But the bottom line is this: no one is going to buy Bitcoin at a 1.5% broker cost, wait 4 business days to receive it, go through the hassle to use it as a version of "electronic cash" to purchase something over the internet (at VERY limited merchants, mind you), without at least recouping their 1.5% broker cost for all the trouble (not to mention transaction fees, if any).  Thus the need for it to go up in price from whence they purchased, and this requires holding.

And they sure as shit aren't going to use it immediately as "electronic cash" if they find themselves severely underwater. Because then what is the point?

^{(Can you tell that I'm so over this PTP electronic cash vs. store of value debate? It's both.)}

I've been getting paid in it and using it for payments for so long, I forgot what the average person had to do in order to get it.

There are certain instances when it makes more sense to transfer money in the form of bitcoin than fiat. Remittances, for example. For large amounts of money (any amount of money, really) its cheaper to buy the bitcoin and send it across the world than to rely on Western Union or Moneygram. In some cases, it may be a tremendously money-saving idea to use bitcoin.

For example, I sent $40 just the other day, and the fee was $5, which is 12.5%. If I could have sent it in bitcoin, the fee would have been less than 1%. Of course the other person would need an option to cash the bitcoin out to their local currency, but that's more a matter of the infrastructure not being there -- yet.

Nobody's suggesting you pay for your Snickers bar at the 7-Eleven with BTC; that's simply impractical. Obviously its not better than real cash for all types of transactions, but it is for some, and its a matter of having the infrastructure in place for the rest.

Quote fail, FTFY.

Bitcoin is a store of value now and sidechains are the future for quick settlements, the market has spoken. The question really is, when will the sidechain eco-system be integrated enough to go full crypto and lose this shit virus laden fiat?

Only thing BTC can't do that fiat can is fit in my nose for a line.

[mindrust]

https://twitter.com/WHO

It is official now.

Now we can PANIC like there is no tomorrow.

PANIC!
(*remember, panic is a good thing. it keeps you alive.)

wtf I am starting to panic too almost under $7.7k