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

[lightfoot]

You know, something I realized this evening:

If (and this is an if) my company were to order me to go back into the office, because I have bitcoins I can tell them to fuck themselves. Been thinking about this and realized that people may be asked to choose between their job and their life....

I'm glad that choice is a simple one to make. And bitcoin is a part of that. Wealth gives you the freedom to make decisions, and I can't think of a more important decision one can make.

[1714249820]

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[1714249820]

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[Biodom]

https://twitter.com/TruthGundlach/status/1252674062943309824

At least someone on WS is saying wicked stuff...

A direct quote:

The word “bailout” needs to be labeled “hate speech” directed toward every citizen who played by the rules.

[soxxx]

3 halvings within the next 8 years..........

We have only had 2 in the last 11 years...

Take that in.

[Raja_MBZ]

Observing exactly $9000 right now.

I seriously am tired of Vegeta now.

I seriously prefer Vegeta (even getting stuck here for a while) much moar better than when we were lingering in the lower to mid $7ks, only a bit over a week ago, and it is even much moar better than our correction down to sub $4k and then getting stuck in $4ks for a few days, too, which was only a month and a half ago.

Many of us who are getting so god damned anxious to go up, should appreciate that largely we have been trickling up, all the way since the sub-$4k price movement, and we really have not had much if any major stagnation or correction in the price, and largely we have been continuing to trickle up.

I totally expected such a reply, and honestly, I'd have said the same if someone else was complaining about sticking at Vegeta's meme price. Complaining right now is equivalent to being an impatient kid. However, seeing Vegeta's meme over and over again is a bit irritating.

Whether such trickling up is going to continue, it is NOT even bad if we happened to get stuck for a bit of time.. NOT that getting stuck is a very likely outcome during such uncertain times, and even seems that if we have a correction, it is NOT exactly obvious that the direction is going to be UP, even if many of us (especially HODLers and accumulators) would prefer UP.  

One thing about bitcoin remains that if there are too many retail folks who are anxious that we might NOT be going UP enough, then that resolve could end up getting tested as a kind of attempt to verify if shaking the tree might be helpful to get a few more weak hands out of this.

TLDR: I am not saying that a BTC correction has to happen, but I am saying that UP is not exactly obvious or inevitable either.  Therefore, we are not necessarily in a bad place, currently, even if it is feeling as if we might be a bit stuck.

Again, I agree. Remaining sideways in the days when stock markets, as well as the global economies, are in chaos is 100% pure bullish move, even if this bullish move is not causing an increase in price.

[bitebits]

You know, something I realized this evening:

If (and this is an if) my company were to order me to go back into the office, because I have bitcoins I can tell them to fuck themselves. Been thinking about this and realized that people may be asked to choose between their job and their life....

I'm glad that choice is a simple one to make. And bitcoin is a part of that. Wealth gives you the freedom to make decisions, and I can't think of a more important decision one can make.

You have ‘f*ck you money’, a powerful weapon that can be used when really needed. They say it is good for your career as well because you can say No and speak your mind. People in debt are dependent and therefore predictable silent worker bees, just as companies and banks like it.

[jbreher]

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

5b. Except everyone that owned assets prior to the debt being issued. The purchasing power of the newly issued debt subtracts steals from the purchasing power of the assets extant prior to issuance of the new debt.

[lightfoot]

Hey, we're OVER 9000!!!

(again)

[cafetools]

Hey, we're OVER 9000!!!

(again)

Yes 9000 is slowly becoming the new lower level support zone.

[bitebits]

https://blockstream.com/2020/05/04/en-announcing-blockstream-satellite-2/

Adam Back, Chris Cook
May 04, 2020

We are pleased to announce Blockstream Satellite 2.0 is now live, bringing a standards-based transmission protocol, more bandwidth, additional coverage areas, and the ability to sync a Bitcoin full node all the way from the genesis block up to today.

[VB1001]

https://twitter.com/dan_pantera/status/1257763173618159616

2012 +468%/+9,212%
2016 +241%/+2,910%
2020 +168%/+🚀🚀🚀

[Toxic2040]

[VB1001]

^
Some poor clueless is going to be devoured.

[LFC_Bitcoin]

From the 2016 halving (price around $650) to almost there 2020 halving (hopefully staying above at least 6500) is 10-12X price appreciation.
If someone told you in 2016 that btc price would be more than 10X in less than four years, you would be very happy, right?
It's just the way it got there/here: produced more grey hair for some or made them lose the "stake".
As Jessie Livermore was saying-the worst is when you lose the stake.
You can't come back "if you aint' in it".

If btc would go up half, just 5-6X, from here to the next halving (roughly 50K), that would be peachy and indicative of a potential "local" peak at 150K or thereabout.
I can live with that.

I can definitely live with that.
This time I’ll sell some, I was like a rabbit in headlights last time & sold nothing (idiot).

[Toxic2040]

Slow steady gainz as we continue to trade around $9k has bitcoin testing the upward bounds of a possible pennant we have been traveling in. Different time frames for perspective.

dyor
1h


4h


D

stronghands

[ivomm]

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

That's why last week you sold all your BTC at $7,900 and were waiting for $7,800, but then you decided to buy back in at $9,400.

It should all work out in the end, as long as you can actually figure out some of the basics, such as HODL, DCA and buying on dips...

Of course, you can go beyond the basics, too, but best to figure out some of the basics before attempting to employ more advance tips.. just saying...  


 

Suddenly, I realized that even if BTC won't moon during my lifetime and I will die with my stash unused I won't regret it. I guess it's the highest level of HODL.  

This is indeed the most hardcore hodling way of thinking. It has some realistic element which most of the hodlers refuse to think about. But unrealistic expectations and beliefs lead to dissapointments which may result in rage quit. I learned to live with all kinds of dissapointments in my modest 2.5 years of hodling. And I stopped measuring my networth in fiat during these years. I am mentally ready to DCA until I retire after 18 years. I think the winner is clear - deflatory and decentralized Bitcoin (by 2040 it practically won't be mined) against the inflatory fiat and stocks of companies that won't exist by then. I would prefer to die with the rebellion, rather than to sell in dissapointment and live without hope under the banner of the fiat empire.

[Indymoney]

Hey, we're OVER 9000!!!

(again)

Yes 9000 is slowly becoming the new lower level support zone.

Now need to stay here for some time because need to touch 10K.

[JayJuanGee]

Observing exactly $9000 right now.

I seriously am tired of Vegeta now.

I seriously prefer Vegeta (even getting stuck here for a while) much moar better than when we were lingering in the lower to mid $7ks, only a bit over a week ago, and it is even much moar better than our correction down to sub $4k and then getting stuck in $4ks for a few days, too, which was only a month and a half ago.

Many of us who are getting so god damned anxious to go up, should appreciate that largely we have been trickling up, all the way since the sub-$4k price movement, and we really have not had much if any major stagnation or correction in the price, and largely we have been continuing to trickle up.

I totally expected such a reply, and honestly, I'd have said the same if someone else was complaining about sticking at Vegeta's meme price. Complaining right now is equivalent to being an impatient kid. However, seeing Vegeta's meme over and over again is a bit irritating.

There were a lot of us making similar complaints between about July and October 2019 when we kept dipping back into 4 digits.... "Why do we have to keep dipping back into 4 digits?"  "This is the last time that we are going to see 4 digits."   etc. etc. etc..

After the end of October, it seemed a lot more difficult to even get back up to $10k, even though it started to seem that we were getting in supra $10k prices again in the first two months of the year before the air started coming out of our sails again with macro factors, but lo and behold, we are kind of struggling to get back up to $10k again, and relative to other asset classes, bitcoin seems to be holding its own - even while I remain quite uncertain whether we can really attempt to visualize ourselves separately from macro happenings.

Would be quite strange if Bitcoin were to go shooting up, while the rest of the world burns, so probably there is some need for some stability in macro systems in order for bitcoin to have any kinds of decent chances to get some kinds of foothold on trending upwards, if that is what bitcoin is inclined to do in the next year or two.
 

Whether such trickling up is going to continue, it is NOT even bad if we happened to get stuck for a bit of time.. NOT that getting stuck is a very likely outcome during such uncertain times, and even seems that if we have a correction, it is NOT exactly obvious that the direction is going to be UP, even if many of us (especially HODLers and accumulators) would prefer UP.  

One thing about bitcoin remains that if there are too many retail folks who are anxious that we might NOT be going UP enough, then that resolve could end up getting tested as a kind of attempt to verify if shaking the tree might be helpful to get a few more weak hands out of this.

TLDR: I am not saying that a BTC correction has to happen, but I am saying that UP is not exactly obvious or inevitable either.  Therefore, we are not necessarily in a bad place, currently, even if it is feeling as if we might be a bit stuck.

Again, I agree. Remaining sideways in the days when stock markets, as well as the global economies, are in chaos is 100% pure bullish move, even if this bullish move is not causing an increase in price.

Yes.   Exactly.  That is another way of phrasing the situation, and you are leaving NO room for disagreement.      

At the same time, there could just continue to be some kind of ongoing bitcoin trickling upwards, and maybe no one is really going to notice it, very much?  Because so many peeps will be complaining that the bitcoin price is NOT going up quickly enough... it's just stuck, and in the meantime, it is up nearly 150% from where it was less than 2 months ago.. but still we just hear complaining that it is stuck and it is boring.

[JayJuanGee]

You know, something I realized this evening:

If (and this is an if) my company were to order me to go back into the office, because I have bitcoins I can tell them to fuck themselves. Been thinking about this and realized that people may be asked to choose between their job and their life....

I'm glad that choice is a simple one to make. And bitcoin is a part of that. Wealth gives you the freedom to make decisions, and I can't think of a more important decision one can make.

You have ‘f*ck you money’, a powerful weapon that can be used when really needed. They say it is good for your career as well because you can say No and speak your mind. People in debt are dependent and therefore predictable silent worker bees, just as companies and banks like it.

I agree with this idea in theory, but surely there may be a lot of guys that have "almost 'fuck you' money" rather than enough to really and realistically be able to say fuck you.

I am not blaming anyone because it takes a long fucking time to reach actual "fuck you" status, and the system is kind of designed in such a way that makes it really difficult to really say fuck you, until you are overly prepared.  In other words, your cushion has to be really BIG because on an ongoing basis we are so tempted, also, to be indebted to the man in one way or another because we tend to want to live beyond our means.

[virasog]

Since when does V8 have a groupie here?

Since corona

[machasm]

I can definitely live with that.
This time I’ll sell some, I was like a rabbit in headlights last time & sold nothing (idiot).

If, or should I say, when we hit 50k you will thank yourself for not selling back in the last bull run.