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

[koryu]

Looks like we can prepare our moon boots again gentlemen.

I get more and more convinced that we saw a silkroad like shakeout. The dumping got absorbed and the price recovered, coins moved to strong hands, while the get rich quick crowd got deleveraged and has no coins.
Sideline money is in disbelief and hopes for a correction after halving. If thats not happening they will chase the price higher. Meanwhile the money printer goes brrrrr, not only in the US but in the whole world. The emerging markets currencies are already inflating while investors try to get their money out of these countries. If shit hits the fan there will be capital controls which will create additional demand for bitcoin. At the same time the block reward will be halved and the world learns about the bitcoin supply curve.
After the economy has recovered the monetary base has increased significantly and this base will be leveraged with additional debt inflating all asset prices.

 https://www.tradingview.com/chart/BTCUSD/VaNwtyrK-Did-we-see-a-silkroad-like-shakeout/

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[OutOfMemory]

I took delivery of 28 TB of spinning hardness today. Nothing gets my watery sap rising more than quality storage these days.

2nd millennium mechanical storage? How about magnetic tape and paper punch cards?

Do you also use vacuum tubes (Eccles-Jordan bistable multivibrator circuitry) and revolving drum memory?

SSDs have been around for over 40 years, mainstream for 20, consumer/retail for well over a decade.

I concede that mechanical HDDs have some archival value but they're so slow and so fragile.

I guess they're cheap though. You get what you pay for.

SSD's are around for 40 years now. They were sized a few hundred kilobytes back then, survived a few thousand of writes (at best) and were pretty slow, agree?
OK, it's no more 198x now, so SSDs got faster, bigger and more reliable.
Wait... Is that all?
Let's see:

If a SSD with all your precious data on it dies. Can you recover it?
I guess not. And if so, the operation would be quite complicated.
Harddrives offer at least two options. Mounting the discs and reading the raw data, or changing the drives electronics (taken from a spare drive from the same production batch).

Hey, HDD's are there for a reason, and it's not only the low price.
Speaking of that, how much would you pay for 14TB on a single SSD?
(Might be a trick question, you'll find out).

I'll end the irony here. Just think for yourself, i'm sure you are capable of finding the right answers, just by doubting your own genius statement
...  
a
little
bit
...
(at least).

no offense  
laugh a little...

EDIT:
Damn! I just found out i'm actually RIDING A BICICLE!!! FFS!!!
I should immediately replace it with a jetpack, or i'm bound to using a 100s of years old mechanical transportation vehicle (so almost from stone age).

SCNR - please don't shoot me

P.S. All this talk of storage has me thinking that we all owe a little thanks to Joe Breher for his work in making these storage technologies possible.  Many people here see him as an argumentative pro-BSV "troll". He's a lot more than that.

Word. Seconded.
Humans are just prone to error. Like judging a whole person on a single opinion...

Tape is great for archival but the issue I think is a working drive to read it, I have millennium Disc blurays for family memories and what not. They're rated at 1000 years and can take a hell of a beating, plus they're cheap.  

Maybe, if they're stored in perfect conditions. (no light, right temperature, humididty, horizontal orientation etc.).
Also need to store a drive that can read them and hope that you have a compatible interface in 1000 years to connect it to  

[Last of the V8s]

All Members.

STAY HOME   ~~~~~~~  PROTECT THE NHS ~~~~~~~  SAVE LIVES



Now which branch member can this  be.  Is it one of the Officer’s stocking up?

 Come on own up

Oops – Name “Knight Sir”- Lost it.   Not again!!



Own up who can say that are losing weight during this lock down?

Thank you Stuart and Dennis for keeping me supplied with subject material
 

Hon Sec

[cafetools]

I think Tuesday and wednesday will break 10k, theres a lot of fomo, news coverage etc. But what do i care, im just a HODDLER for life. I live my life satoshi by satoshi

[OutOfMemory]

You guys with your stacked terabyte HDD’s. I’ll stick to the 1.44 MB not so floppy disks, conveniently strung together with a little help of ARJ. Even has a read only switch for eternal storage. Who needs blockchains.

I decorated the top of my table, made entirely out of punch cards, with my old 8-inch floppy disks, because i switched to 5,25" a week ago.
Anybody need a 8" drive? 50 pin cable included.

[OutOfMemory]

I think Tuesday and wednesday will break 10k, theres a lot of fomo, news coverage etc. But what do i care, im just a HODDLER for life. I live my life satoshi by satoshi

Arrr, she's coming down again.
Bears nailed to the $9k barrier, it seems.
However, i stay by my original prediction assumption of vegeta coming in some more times before i dust off the moon boots.
Accumulate it 

[Toxic2040]

not out of the woods yet..bears look to be trying to take a dip in the pool      dyor


stronghands

[Last of the V8s]

[Globb0]

9000 getting close.

Come on Vegeta, you can do it!

haha this has inspired me to make deliberately shit cosplay outfits

[bitebits]

Previous halving rallies were 10,000% and 2,500%. What do we all think we will see this time?

The guesstimate from Dan Morehead sounds reasonable (and I’d take it):

https://medium.com/@PanteraCapital/macro-impact-on-bitcoin-pantera-blockchain-letter-april-2020-1fdc792d4f33

Each subsequent halving’s impact on price will likely taper off in importance as the ratio of reduction in supply from previous halvings to the next decreases. [...]

The second having decreased supply only one-third as much as the first. Very interestingly, it had exactly one-third the price impact. Extrapolating this relationship to 2020: The reduction is supply is only 40% as great as in 2016. If this relationship holds, that would imply about 40% as much price impulse — bitcoin would peak at $115,212 /BTC.

From earlier in the article: “IF history were to repeat itself, bitcoin would peak in August 2021.”

[Globb0]

3 trillion here, 3 trillion there

pretty soon...something something


profit?

Kind of interesting actually. At a certain point there simply are no consequences for the worst behavior. Almost as if you had a rich daddy giving you everything.

There used to be a saying round these parts. You didn't make a loss if you didn't sell. (bit like 1btc=1btc)

The same kind of applies for all this ridiculous debt. If you are never going to repay it is it really a debt?

[Globb0]

I took delivery of 28 TB of spinning hardness today. Nothing gets my watery sap rising more than quality storage these days.

your wallet.dat file is that big?

nice

I was thinking pr0n collection.

your pron fits in 28 TB?

you need to step up your game increase your stroke

[Globb0]

Elon Musk is selling his two houses (worth about $40 mil in total) and saying, ostensibly, that he would have "no possessions" because:

1. he thinks that we are at a RE top
2. he became a "revolutionary" [after mouthing off something something about "fascists"]
3. he is moving to China
4. he is selling TSLA to some Middle Eastern sheiks and would move there (Dubai?)
5. he is moving to Mars
6. he merged with AI and is about to control us all
7. he is having a midlife crisis
8. he is using RE sales to fund his BTC purchases.

What's it going to be? Please come up with %% of probability if you like.

7 - 5 - 8, in that order.

He likes John Lennon records?

[bitcoinPsycho]

When $9000 ?

[Last of the V8s]

Michelle Obama is a bloke? or was? or something

[AlcoHoDL]

Simple (and possibly really "noob") question about exchanges:

When there is a big green (or red) dildo on the BTC/USD chart of an exchange (say, due to one big whale's move on that specific exchange), how is it possible for nearly all other exchanges, and even different fiat currency charts (BTC/EUR, etc.), to also reflect that move almost instantly? Shouldn't that specific move affect only the exchange on which it was made? At least in the short term?

It seems to me that all exchanges are somehow linked together, so that a move on one of them near-instantly affects all others. I wonder if there is an established inter-exchange system of price equalization (possibly a proactive measure to prevent arbitrage), or if the observed price equalization just happens naturally due to the global market itself (i.e., the "law of averages" taking place).

Have always wondered about this... Any insights appreciated.

[HairyMaclairy]

3 trillion here, 3 trillion there

pretty soon...something something


profit?

Kind of interesting actually. At a certain point there simply are no consequences for the worst behavior. Almost as if you had a rich daddy giving you everything.

There used to be a saying round these parts. You didn't make a loss if you didn't sell. (bit like 1btc=1btc)

The same kind of applies for all this ridiculous debt. If you are never going to repay it is it really a debt?

1.  The Fed buys the debt.

2. The Federal government makes debt payments to the Fed.

3. The Fed pays the government a special dividend of income from the debt payments.

4. Federal government income goes up, allowing debt to be repaid faster.

5.  Everyone wins

[Last of the V8s]

@ AlcoHoDL

arbitrage bots

[HairyMaclairy]

Simple (and possibly really "noob") question about exchanges:

When there is a big green (or red) dildo on the BTC/USD chart of an exchange (say, due to one big whale's move on that specific exchange), how is it possible for nearly all other exchanges, and even different fiat currency charts (BTC/EUR, etc.), to also reflect that move almost instantly? Shouldn't that specific move affect only the exchange in which it was made? At least in the short term?

It seems to me that all exchanges are somehow linked together, so that a move in one of them near-instantly affects all others. I wonder if there is an established inter-exchange system of price equalization (possibly a proactive measure to prevent arbitrage), or if the observed price equalization just happens naturally due to the global market itself (i.e., the "law of averages" taking place).

Have always wondered about this... Any insights appreciated.

Yes.  It’s arbitrage.  

Hairy has a bot on Bitstamp called Stampy, and a bot on Bitfinex called Willy.

When Bitstamp is higher than BFX Stampy sells and Willy buys.

When BFX is higher than Bitstamp, Stampy buys and Willy sells.

[Last of the V8s]

Stop giggling at the back

https://www.youtube.com/watch?v=D0a-FOoM9ms Blofeld & Baxter "The bowler's Holding the batsman's Willey"