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

[El duderino_]

https://twitter.com/Vires_Num3ris/status/1257158614659334144?s=20

^
This is cool for those who played the game

#mortalcombat

[El duderino_]

Bitcoin’s market cap went from $0 to $162B in 11 years with:

- no backing from governments
- no backing from universities
- no backing from the traditional banking system

via Imgflip Meme Generator

https://twitter.com/danheld/status/1257294213802332160?s=20

Remember this... we don't need banks, we can do it ourselfs

[Indymoney]

I'm on a dodgy wifi

In last few days I am also in trouble because they are saying some maintenance work going on.

[Elwar]

According to this chart the past 2 halvings have been followed soon after by an insignificant dip. Insignificant long term but at the time felt like a letdown due to the hope that the price would rise right after the halving. There was a jump right after the first halving due to the scare that the halving would cause the end of Bitcoin due to miners stopping mining. When they didn't stop the price jumped a little. Before easing back down. I remember selling about 400 bitcoins after that quick jump to $12 (all the bitcoins I owned).

[VB1001]

https://imgur.com/kWzraKZ

[Globb0]

Did you clear this meme with V8 ?

[bkbirge]

I'm actually pretty impressed with how btc is holding up here. I kind of expected a little more ^$%#ery and shenanigans going into the halving. I'd hate to be gambling on swing trades right now.

[VB1001]

Did you clear this meme with V8 ?

Yes, the V8 filter could be used, although due to its size it could also be the drum of a washing machine.

[vapourminer]

oh totally, I have yet to see a compelling reason to move off my hotrodded X58 setup; 48G of RAM, nvme boot drive, 1080ti, it does what I need

Nice setup. My daily driver is still an i7 4770K, 16GB RAM, 1080ti.

i5 3570k, 16gb, several ssds and a 1080ti. runs my valve index fine (for the most part).

but its time for a dedicated vr build soon.

[hodl_2015]

- no backing from governments
- no backing from universities
- no backing from the traditional banking system

Unless Satoshi was employed by one of those three   but it still would be next to nothing.

[bitebits]

https://blog.kraken.com/post/3971/kraken-releases-the-halving-trends-implications-of-bitcoins-inflation-mechanism/

Kraken Releases ‘The Halving: Trends & Implications of Bitcoin’s Supply Inflation Mechanism’

Full report: https://blog.kraken.com/wp-content/uploads/2020/02/Bitcoin_Halving_F_v09_1.pdf

[Biodom]

According to this chart the past 2 halvings have been followed soon after by an insignificant dip. Insignificant long term but at the time felt like a letdown due to the hope that the price would rise right after the halving. There was a jump right after the first halving due to the scare that the halving would cause the end of Bitcoin due to miners stopping mining. When they didn't stop the price jumped a little. Before easing back down. I remember selling about 400 bitcoins after that quick jump to $12 (all the bitcoins I owned).

This graph has data only until March 20, but if it had current data, then it would look even more similar to 2016, projecting either a small further runup (maybe to 10K) or not, followed by a 1000-1500 points dip post halving to the 7000-8500 band.

[kellrobinson]

Bitcoin is in the tenth year of a secular bull market.
The liquid market with rational price discovery began in 2010.

[JayJuanGee]

tree huggers must be going ballistic here. after fighting seemingly forever to ban single use plastic bags in favor of those reusable recycled ones (you know the reusable ones people put on their filth infested floors/counters and such at home, then bring back to plunk on a supermarket checkout) they have now banned those disgusting germ ridden bags and brought clean, sanitary single use plastc bags back. by law.

they should of thought about how filthy most people are before all that reuseable bag shit was law but treehuggers and such arent really known for thinking things through.

of course proper disposal is a must too. stupid is stupid i must admit.
 
we use ours to bag cat poo (among other things) and dispose of properly in the trash.

you seem to be arguing that the over production of plastics is not a problem, and sure there is some reuse of plastics that go on, but even if you use them a few times, there still ends up being a shitload of them and you can only use them so much before they become soiled, torn or even somewhat denigrating from likely poor quality, anyhow.

Surely, there was good intentions behind some of the reuse movement but surely that reuse does not make very much sense in times of the virus and times in which we need to be more careful about germs. 

Of course, during regular times, germ exposure will generally make us stronger at least until we get really old then we cannot tolerate germs as much, but in normal times, we should be a bit questioning of germ phobic people who are overly cleaning and some times causing their own issues, similar to the overuse of antibiotics for every little thing and then not using the full course of treatment. 

We can concede that these are not normal times, when trying to temper the impact of a virus... so  a lot of the normal rules might have to be changed and even the justifications are going to need to be reconsidered, at the least... does not mean that the old rules were wrong, just that there is a specific ongoing emergency problematic situation that is still in progress, sad as that may be...

[JayJuanGee]

declining...8699 8719.

Why always on Sunday night? Darned stock futures and Asia trading, perhaps.

The halvening pump is over (or near enough). Time to find a new base for the 2021 bull.  

Hairy our dear friend.
Mean’t to spread some hopium.
Not to cut my breath.

A nice base would be ?
Seven full hours till halving.
Could live with 8 k.....

I'm still in favor of his $12k prediction.
That said, any prediction is out of the window atm.
After all, we have the rest of the year to find a solid base for the 2021 bull.

Yeah sorry everything is cancelled

Seriously, 9.4k was a gift

Go back into hibernation

hahahahaha

Yeah, it is a bit strange that some members here want to preach a kind of nostradamus, and surely, so far Hairy has not been too strong in his preaching, but he is calling a local top... he has been wrong before, but he is better known for the times in which he was right.

Sure, there are some reasons to be a bit doom and gloomie... so we cannot really know if BTC is going to get drug down a bit, but the bad news is truly not unambiguous in any kind of proclamations for down.

Whether we are looking at Hairybearie's most recent overlay or the stock to flow model, we are still witnessing that BTC had recently been a bit above the curve, and then it corrected to a bit below the curve, so largely currently, the BTC price is just on the curve, which hardly makes it strong to suggest that the price needs to go either way.. and yeah, it might go sideways, but I have a hard time believing that bitcoin is going to merely go sideways, because it does not tend to do that, and especially when there seems to be so much crazy stuff in the macro-space, it is difficult to believe that bitcoin is just going to get caught in some kind of boring consolidation range without a bit of drama, here and there...

Hopefully some of these mini-doom and gloomers (aka sideways predictors) are not betting too much on that scenario... because maybe we are in a 33% stage rather than a 50% stage, because we have the sideways as a third factor.  33/33/33....  and maybe if I am considering either the fractal or the stock to flow, which I don't have any reason to NOT believe them to have some kind of persuasive value, I would be leaning a bit more in my preparations for the first one rather than either the middle or the second one, so maybe my numbers would come out 35/33/31 or even more bullish than that, perhaps, if I were to think about it more.

[Biodom]

Bitcoin is in the tenth year of a secular bull market.
The liquid market with rational price discovery began in 2010.

If it is so, man, I don't want to see a secular bear around here.

[VB1001]

Funding the Civil War (1861–1865)

The Civil War is America’s deadliest conflict and it cost a staggering $6.6 billion (in 1860’s dollars). President Lincoln postulated that “The result of this war is a question of resources. That side will win in the end where the money holds out longest.”

https://medium.com/@huntergebron/american-first-initial-fiat-offering-ifo-24f7e1dde3ac

'Give me more Greenbacks,' says Secretary Chase

[Toxic2040]

[V8s Road Warrior]

God how long does one shopping trip take?

[bkbirge]

Arbitrage opportunity for the brave/foolhardy?
https://cointelegraph.com/news/iran-ditches-the-rial-amid-hyperinflation-as-localbitcoins-seem-to-trade-near-35k

Back in 2018, Iranian authorities set an official exchange rate at some 42,000 rial to the dollar. Many currency exchanges still show this as the going rate. At the same time, peer-to-peer Bitcoin exchange LocalBitcoins is seeing prices of 1,445,658,900 rials per BTC — according to the official exchange rate, roughly $34,500.

It is, however, not the time to start selling BTC in Iran. Despite official proclamations, the rial has taken a beating alongside the Iranian economy.

According to Radio Free Europe, black market trading had the U.S. dollar selling for 156,000 rials. The toman would cut four zeroes off of current rates, but may well run into the same problems that have stymied the rial.