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

[Biodom]

A truly bizarre virus it hops from place to place.
If this continues, election want be necessary.

This probably correlates with an average March-April temperature if anything else.
March is warm in TX (and in FL, AZ, etc) already and it is known that temp affects R naught negatively. LA might be an outlier from the trend.
Just a thought.

[Globb0]

J.K. Rowling is starting to piss me off on Twitter now, begging for attention. Nobody cares if you don’t want to invest in bitcoin, we don’t need your worthless fiat to moon, silly old boomer cunt.

I know she never returned your Harry Potter lunch box, let alone signed it, but she's a busy woman. You're bigger than this.

Well OK but he at least deserved his cheese and onion sandwich cut into the shape of a wizard back. And the photos of his man wand.

[HairyMaclairy]

Wingardium leviosa

[LFC_Bitcoin]

Wingardium leviosa

Lumos

[DaRude]

A truly bizarre virus it hops from place to place.
If this continues, election want be necessary.

This probably correlates with an average March-April temperature if anything else.
March is warm in TX (and in FL, AZ, etc) already and it is known that temp affects R naught negatively. LA might be an outlier from the trend.
Just a thought.

Show me population densities. Apples to oranges

[LUCKMCFLY]

ChartsBTC Update

[Daily value of new #bitcoin

Source: https://twitter.com/ChartsBtc/status/1262458711978565634

[Biodom]

A truly bizarre virus it hops from place to place.
If this continues, election want be necessary.

This probably correlates with an average March-April temperature if anything else.
March is warm in TX (and in FL, AZ, etc) already and it is known that temp affects R naught negatively. LA might be an outlier from the trend.
Just a thought.

Show me population densities. Apples to oranges

IL pop density 230 people per sq mile, 7433 cases/mil
FL pop density 334 people per sq mile, 2123 cases/mil
Therefore, population density does not seem to be a cause at least in this pairwise comparison.
Also, I would imagine that Los Angeles or San Fran has an exact same pop density to NYC with much less cases in Los Angeles and San Fran.

BTW, btc is not correlating with the stock market today, with stocks being silly again.

[rdbase]

https://bitcointalk.org/index.php?topic=5246331.40

Love this  
Exclusive!

https://twitter.com/selfbankt/status/1261567006266007552?s=21

Then why didnt he just call his creation bsv harry potter coin?

He is a wizard because no one can conjure up this kind of stuff if he wasn't.

Cause it's Magiccccc!

J.K. Rowling is starting to piss me off on Twitter now, begging for attention. Nobody cares if you don’t want to invest in bitcoin, we don’t need your worthless fiat to moon, silly old boomer cunt.

She just wants to know how the technology works then make her own coin called Just Rowling in it!
Her reaction was to call everyone who was into crypto weirdos(creepy) and nerdy (collectibles?) essentially with her response.
But in her defense she was drunk on her forth glass of whiskey.
https://fortune.com/2020/05/18/jk-rowling-tweet-bitcoin-elon-musk-crypto-twitter-old-fashioned

https://twitter.com/jk_rowling/status/1261400703639203841

So at this point, dont bother. If Elon or Vitalik couldn't persuade her then maybe Tone Vays can.. for a price.

[vapourminer]

the fed and stockmarket run on hopium, and how long that that lie last? but i see your point, they will do anything to keep the stock market going as pretty much everything in the usa rides on the stock market.

bitcoin may fall along with stocks to a point but in my case when i suddenly need a largish amount fiat for whatever reason (pandemic? yeah right what are the odds of that... oh wait..) i tend to sell off my different classes of stuff (not sure what to call "classes" as i am not a financial guy, i pay people for that) equally if at all possible.

but wtf do i know all i can say for certainty is bitcoin has been very kind to me.

Are you suggesting that sometimes you will try to follow Gresham's law, vapourminer, meaning that you speculate that bitcoin is the more sound of the monies, and you tend to consider whether to sell other kinds of monies / assets before selling any of your bitcoin?

I understand that if you are already more appreciated in bitcoin, and bitcoin ends up comprising way more of the value of your various assets, then you might end up shaving off some bitcoin rather than selling some of the less valuable monies/assets, because largely you are somewhat over-allocated in bitcoin relative to the other assets/monies because bitcoin has gone way up in its value compared with the other assets.

i definitely consider bitcoin more sound than fiat, and that viewpoint has really been driven home as of late. but i really just do my own thing financially. which may not be smart but has served well enough.

basically if i need x amount of fiat money i will simply divide by n, n being the "classes" in my mind. those classes in my mind dont really correlate with traditional categories and have changed over time as i learn more about it or simply adjust based on past and what i consider potential future returns.

now bitcoin has been by far the best performing class and that means that means if im pulling say 10k USD from the bitcoin "class" its generally taken less bitcoin each time as i try to have enough fiat reserve to ride out the smaller dips and downtrends (a couple years worth of fiat have worked out) and be able to (more or less) pick decent point to sell. i do that by setting goals with laddered sell prices on the exchanges. but i also have to pick a certain date (several actually, like say a 1 month period divided into four one week periods). at each point if i havent made the price i want i still sell (in this example) 1/4th of my fiat goal, so 2500 USD , whatever that happens to be in corn at that time. this way i dont get stuck at the end if the price of corn has just gone down during that cashout period. basically i have DCAd my way out.

now this selling of bitcoin is mainly a habit from getting in this in 2011 when the possibility of bitcoin failing was much higher and i am a creature of habit and limited learning capacity so i do what has worked in the past with the least risk to my overall financial ability.

if any of that makes sense. which i certainly dont expect it to for others as i am not known for making sense or following best practices.

---

so i guess to me, buying corn is the 1st class of asset that i top off when i get the chance. thats the main point and far more important. selling wise i have to treat corn just like any other asset. in my mind thats just the way i do it. bitcoin is both a investment and a tool to meet goals. i use it like any other tool. but it is the best tool ive ever seen.

[BayAreaCoins]

Bitcoin tx fees are spiking... hopefully the miners aren't trying to artificially lift the fees again.  

We really need more competition in Bitcoin mining.

[rdbase]

Bitcoin tx fees are spiking... hopefully the miners aren't trying to artificially lift the fees again.  

We really need more competition in Bitcoin mining.

"From April 11 until May 14, Bitcoin (BTC) transaction fees increased by more than 1,250% from $0.38 to $5.16.
While Bitcoin transaction fees have since fallen by 33.3% to sit at roughly $3.44 as of this writing, fees have increased by 36.5% since the block reward halving on May 11.
The average cost of executing transactions on the Bitcoin network has increased by more than 800% in just one month, with May posting the highest transaction fees since July 2019 so far.
Fees are up by more than one-third since the halving, which precipitated an increase in transaction costs of 105% over three days."
source: https://cointelegraph.com/news/bitcoin-transaction-fees-are-up-800-in-one-month

I remember before the halving paying the $0.38 to send over 0.08btc. It was a super fast send too receiving it within 5 minutes!
Just now sent 0.0579btc with a 0.000616btc miners fee $5.96 at preev rate and confidence rating is under 29% for the transaction which I sent 33 minutes ago. Not one confirmation yet.
And if it just like before the weekend when price of BTC was surging nearer to $10k price, where everyone and their grandmothers are trying to send their bitcoin to their exchange wallets , then I wont expect it to confirm with 3 hours from now. Where the send I did on friday had a over 94% confidence rating but still took over 3 hours to get 1 confirmation on the blockchain.

[criptix]

A truly bizarre virus it hops from place to place.
If this continues, election want be necessary.

This probably correlates with an average March-April temperature if anything else.
March is warm in TX (and in FL, AZ, etc) already and it is known that temp affects R naught negatively. LA might be an outlier from the trend.
Just a thought.

Show me population densities. Apples to oranges

IL pop density 230 people per sq mile, 7433 cases/mil
FL pop density 334 people per sq mile, 2123 cases/mil
Therefore, population density does not seem to be a cause at least in this pairwise comparison.
Also, I would imagine that Los Angeles or San Fran has an exact same pop density to NYC with much less cases in Los Angeles and San Fran.

BTW, btc is not correlating with the stock market today, with stocks being silly again.

How is the actualy distribution of the population in the states?

I would think hotspots would be much likely big cities with international airports and tourism, i.e. new york city.


The stock pump today was very likely based on the vaccine news imo.

[Torque]

J.K. Rowling is starting to piss me off on Twitter now, begging for attention. Nobody cares if you don’t want to invest in bitcoin, we don’t need your worthless fiat to moon, silly old boomer cunt.

She just wants to know how the technology works then make her own coin called Just Rowling in it!
Her reaction was to call everyone who was into crypto weirdos(creepy) and nerdy (collectibles?) essentially with her response.
But in her defense she was drunk on her forth glass of whiskey.
https://fortune.com/2020/05/18/jk-rowling-tweet-bitcoin-elon-musk-crypto-twitter-old-fashioned

https://twitter.com/jk_rowling/status/1261400703639203841

So at this point, dont bother. If Elon or Vitalik couldn't persuade her then maybe Tone Vays can.. for a price.

Maybe someone should ask her to apologize to the public for that complete disaster of a movie called "The Crimes of Grindelwald". A crime against humanity is more like it!

[LFC_Bitcoin]

Bitcoin tx fees are spiking... hopefully the miners aren't trying to artificially lift the fees again.  

We really need more competition in Bitcoin mining.

"From April 11 until May 14, Bitcoin (BTC) transaction fees increased by more than 1,250% from $0.38 to $5.16.
While Bitcoin transaction fees have since fallen by 33.3% to sit at roughly $3.44 as of this writing, fees have increased by 36.5% since the block reward halving on May 11.
The average cost of executing transactions on the Bitcoin network has increased by more than 800% in just one month, with May posting the highest transaction fees since July 2019 so far.
Fees are up by more than one-third since the halving, which precipitated an increase in transaction costs of 105% over three days."
source: https://cointelegraph.com/news/bitcoin-transaction-fees-are-up-800-in-one-month

I remember before the halving paying the $0.38 to send over 0.08btc. It was a super fast send too receiving it within 5 minutes!
Just now sent 0.0579btc with a 0.000616btc miners fee $5.96 at preev rate and confidence rating is under 29% for the transaction which I sent 33 minutes ago. Not one confirmation yet.
And if it just like before the weekend when price of BTC was surging nearer to $10k price, where everyone and their grandmothers are trying to send their bitcoin to their exchange wallets , then I wont expect it to confirm with 3 hours from now. Where the send I did on friday had a over 94% confidence rating but still took over 3 hours to get 1 confirmation on the blockchain.

Current recommended fee - 158 sat/byte
It’s butthurt miners absolutely fuming at the block reward halving so they’re prioritising high fee transactions to try & make some money back. People are paying higher & higher fees to try & get a quick confirmation.

Edit - mempool is massive.
48,004 unconfirmed transactions, I’ve seen a lot more though during the spam attacks a few years ago.

[jojo69]

Current recommended fee - 158 sat/byte
It’s butthurt miners absolutely fuming at the block reward halving so they’re prioritising high fee transactions to try & make some money back. People are paying higher & higher fees to try & get a quick confirmation.

Edit - mempool is massive

this is precisely how markets work, and saving us from chain freeze

[machasm]

Bitcoin tx fees are spiking... hopefully the miners aren't trying to artificially lift the fees again.  

We really need more competition in Bitcoin mining.

"From April 11 until May 14, Bitcoin (BTC) transaction fees increased by more than 1,250% from $0.38 to $5.16.
While Bitcoin transaction fees have since fallen by 33.3% to sit at roughly $3.44 as of this writing, fees have increased by 36.5% since the block reward halving on May 11.
The average cost of executing transactions on the Bitcoin network has increased by more than 800% in just one month, with May posting the highest transaction fees since July 2019 so far.
Fees are up by more than one-third since the halving, which precipitated an increase in transaction costs of 105% over three days."
source: https://cointelegraph.com/news/bitcoin-transaction-fees-are-up-800-in-one-month

I remember before the halving paying the $0.38 to send over 0.08btc. It was a super fast send too receiving it within 5 minutes!
Just now sent 0.0579btc with a 0.000616btc miners fee $5.96 at preev rate and confidence rating is under 29% for the transaction which I sent 33 minutes ago. Not one confirmation yet.
And if it just like before the weekend when price of BTC was surging nearer to $10k price, where everyone and their grandmothers are trying to send their bitcoin to their exchange wallets , then I wont expect it to confirm with 3 hours from now. Where the send I did on friday had a over 94% confidence rating but still took over 3 hours to get 1 confirmation on the blockchain.

Current recommended fee - 158 sat/byte
It’s butthurt miners absolutely fuming at the block reward halving so they’re prioritising high fee transactions to try & make some money back. People are paying higher & higher fees to try & get a quick confirmation.

Blocks are being solved a lot slower since the halving. This is causing a backlog in the mempool which has been steadily growing. I guess a few miners have switched off which is slowing the chain down until the next difficulty adjustment. That adjustment looks like it will be some time tomorrow evening and is probably in the region of a 5% reduction. Hopefully this will speed the finding of blocks back up and we can work through the backlog and finally get the fees back under control.
At least that's how it looks to me. We are currently 100MB worth of backlog or around 75 blocks.

Edit:- lol 3 blocks just found in the last 10 mins.

[DaRude]

Bitcoin tx fees are spiking... hopefully the miners aren't trying to artificially lift the fees again.  

We really need more competition in Bitcoin mining.

"From April 11 until May 14, Bitcoin (BTC) transaction fees increased by more than 1,250% from $0.38 to $5.16.
While Bitcoin transaction fees have since fallen by 33.3% to sit at roughly $3.44 as of this writing, fees have increased by 36.5% since the block reward halving on May 11.
The average cost of executing transactions on the Bitcoin network has increased by more than 800% in just one month, with May posting the highest transaction fees since July 2019 so far.
Fees are up by more than one-third since the halving, which precipitated an increase in transaction costs of 105% over three days."
source: https://cointelegraph.com/news/bitcoin-transaction-fees-are-up-800-in-one-month

I remember before the halving paying the $0.38 to send over 0.08btc. It was a super fast send too receiving it within 5 minutes!
Just now sent 0.0579btc with a 0.000616btc miners fee $5.96 at preev rate and confidence rating is under 29% for the transaction which I sent 33 minutes ago. Not one confirmation yet.
And if it just like before the weekend when price of BTC was surging nearer to $10k price, where everyone and their grandmothers are trying to send their bitcoin to their exchange wallets , then I wont expect it to confirm with 3 hours from now. Where the send I did on friday had a over 94% confidence rating but still took over 3 hours to get 1 confirmation on the blockchain.

Current recommended fee - 158 sat/byte
It’s butthurt miners absolutely fuming at the block reward halving so they’re prioritising high fee transactions to try & make some money back. People are paying higher & higher fees to try & get a quick confirmation.

Edit - mempool is massive.
48,004 unconfirmed transactions, I’ve seen a lot more though during the spam attacks a few years ago.

Hmm getting close to pushing me on the lightning train, when is Andreas book on lightning coming out? Guessing a lot of people in the same boat with me, soon won't be able to afford to not use lightning

[Toxic2040]

cat rides alligator across river
1h



testing resistance to find support
4h

[JayJuanGee]

A truly bizarre virus it hops from place to place.
If this continues, election want be necessary.

This probably correlates with an average March-April temperature if anything else.
March is warm in TX (and in FL, AZ, etc) already and it is known that temp affects R naught negatively. LA might be an outlier from the trend.
Just a thought.

Show me population densities. Apples to oranges

Corona could give less than two shits whether republican or democrat.... and our lil buddy, aka bitcoin, feels the same way about partisan baloney... 

Furthermore every fucking state has been engaging in various piss poor efforts at shutting down and/or targeted strategies, so it is going to take a decently long time to compile information and sort the wheat from the chafe in terms of figuring out what has been going on and what has been effective, with also some elements of chance and unknowns mixed in the data and the assessment of the data, too.

[JayJuanGee]

the fed and stockmarket run on hopium, and how long that that lie last? but i see your point, they will do anything to keep the stock market going as pretty much everything in the usa rides on the stock market.

bitcoin may fall along with stocks to a point but in my case when i suddenly need a largish amount fiat for whatever reason (pandemic? yeah right what are the odds of that... oh wait..) i tend to sell off my different classes of stuff (not sure what to call "classes" as i am not a financial guy, i pay people for that) equally if at all possible.

but wtf do i know all i can say for certainty is bitcoin has been very kind to me.

Are you suggesting that sometimes you will try to follow Gresham's law, vapourminer, meaning that you speculate that bitcoin is the more sound of the monies, and you tend to consider whether to sell other kinds of monies / assets before selling any of your bitcoin?

I understand that if you are already more appreciated in bitcoin, and bitcoin ends up comprising way more of the value of your various assets, then you might end up shaving off some bitcoin rather than selling some of the less valuable monies/assets, because largely you are somewhat over-allocated in bitcoin relative to the other assets/monies because bitcoin has gone way up in its value compared with the other assets.

i definitely consider bitcoin more sound than fiat, and that viewpoint has really been driven home as of late. but i really just do my own thing financially. which may not be smart but has served well enough.

basically if i need x amount of fiat money i will simply divide by n, n being the "classes" in my mind. those classes in my mind dont really correlate with traditional categories and have changed over time as i learn more about it or simply adjust based on past and what i consider potential future returns.

now bitcoin has been by far the best performing class and that means that means if im pulling say 10k USD from the bitcoin "class" its generally taken less bitcoin each time as i try to have enough fiat reserve to ride out the smaller dips and downtrends (a couple years worth of fiat have worked out) and be able to (more or less) pick decent point to sell. i do that by setting goals with laddered sell prices on the exchanges. but i also have to pick a certain date (several actually, like say a 1 month period divided into four one week periods). at each point if i havent made the price i want i still sell (in this example) 1/4th of my fiat goal, so 2500 USD , whatever that happens to be in corn at that time. this way i dont get stuck at the end if the price of corn has just gone down during that cashout period. basically i have DCAd my way out.

now this selling of bitcoin is mainly a habit from getting in this in 2011 when the possibility of bitcoin failing was much higher and i am a creature of habit and limited learning capacity so i do what has worked in the past with the least risk to my overall financial ability.

if any of that makes sense. which i certainly dont expect it to for others as i am not known for making sense or following best practices.

Largely makes sense to me... a kind of reverse DCA withdrawing that might also involve some attempts at reallocating away from bitcoin that causes you retrospectively to tentatively conclude that over the years (and maybe even continuing to date) you may have been withdrawing from BTC at a bit higher levels than what others would do, but overall you have a decent amount of BTC, so it is not like you are likely to run out soon or NOT have any, even if BTC prices go shooting up.

No problem with any of that, especially if you are overall comfortable with it, and may even decide to tweak your strategy at some point (if you get around to it)... hahahahaha

---
so i guess to me, buying corn is the 1st class of asset that i top off when i get the chance. thats the main point and far more important.

Maybe in the end, if you are both buying and selling BTC, in the end, you are NOT really doing anything much different than any other longer term BTC HODLer, even if your description is a bit different.. but in the end, there might not be a large material difference because you are both skimming off from time to time and buying from time to time and some of that might coincide with where the BTC price is at and other times it merely coincides with if you have dollar needs or not.

selling wise i have to treat corn just like any other asset. in my mind thats just the way i do it. bitcoin is both a investment and a tool to meet goals. i use it like any other tool. but it is the best tool ive ever seen.

You are a stubborn one, so probably some of your following of Gresham's law happens to be more subliminal rather than your lame attempts at equality.... hahahahaha    (hate to say that you were starting to sound a wee bit like searing for a while, there... with your seemingly both loving and hating of bitcoin at the same time.    )