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

[DaRude]

grudging respect for that old bird and her hired goons, moreso if the Kiwis agree with her actions. btw did she ever get any of their guns off them? (answer cmiiw is 'a few')

... it's not all smiley, sweet and light in NZ and the 'world' only gets the view that the global progressive media choose to portray.

She has totally trashed the NZ economy to achieve it with a ridiculously harsh lockdown for over 6 weeks and doled out 20% of GDP on no-questions-asked payments to her voting bloc (twice as much corona-chan rescue spending per capita GDP as other countries), in an election year. NZ govt. debt levels have skyrocketed and now set back ~30 years of frugality in less than 3 months. It's has been an orgy of gubmint spending for people to basically sit on the couch. GDP is expectd to contract by ~20-30% for the affected quarter.

https://www.stuff.co.nz/business/300023771/new-zealands-big-bill-for-lockdown-we-didnt-need

... the hangover will be long and painful, NZ is now one of the most indebted to foreigners per capita countries in the world.

What's US's GDP and how much have they spent?

... graph from the conveniently linked article, (because when you are too lazy to even open your mouth fucking spoonfeeding can't work I guess).



... from memory US GDP was around $21 trillion in 2019

Yeah i usuallu don't click on random links. But if you insist:

In the US, welfare support is about 8 per cent of GDP, although its quantitative easing-to-GDP measure is slightly higher than New Zealand's.

...(twice as much corona-chan rescue spending per capita GDP as other countries)

Are you only taking in account the money spent on "health, welfare, wages and tax reductions"?

That light blue bar labeled "Loan Guarantees" seems to be higher in US too or we don't account for that either?

So according to your link in total, currently NZ is about 10% in front of US in % of GDP spending. But could the little fact that NZ has 0 active cases, when US has over 1million mean anything? Would you venture a guess how much next Brrrrr QE in US will be? Or what the numbers in US will be when (if) they'll get to 0 active cases?

Edit: I can't type

[El duderino_]

Goldman Sachs loves Bitcoin so much that they tell their clients to not buy it, so they can buy more, which includes their investment in Circle.

https://twitter.com/woonomic/status/1265942344848699392?s=21

[Wekkel]

Man, I had better never have 15 bitcoins on me in an airport. Government will just seize it like cash....

https://www.washingtonpost.com/travel/2020/05/28/man-missed-his-flight-logan-airport-then-authorities-discovered-138980-cash-his-bag

Oh wait, I forgot, it's *my* bitcoin, not the government's money. They want the key they can torture me for it.

Note: It is possible this was an international flight where you do have to declare >10k for customs purposes. But still this does not sound like a job for TSA....

in the past I have seen posts where people discussed the need to declare value if bitcoin you carry too.

Still, it's unclear whenever we cross-border, if we have bitcoin that needs to be declared. Because even if it's not a hardware wallet, I control my bitcoin through phone or basic internet. Similarly, I control fiat also through my phone in bank accounts or credit/debit cards of multiple countries.

So I don't think Bitcoin needs to be declared when you cross the boarder.

The trouble is: at the gate you aren’t the one doing the thinking. TSA does... 

[jojo69]

burn baby burn

[Wekkel]

Goldman Sachs loves Bitcoin so much that they tell their clients to not buy it, so they can buy more, which includes their investment in Circle.

https://twitter.com/woonomic/status/1265942344848699392?s=21

I found this article a good angle to look at this latest GS Bitcoin affair: https://medium.com/@omid.malekan/what-crypto-is-and-isnt-77853cb3b1ab

[DaRude]

Man, I had better never have 15 bitcoins on me in an airport. Government will just seize it like cash....

https://www.washingtonpost.com/travel/2020/05/28/man-missed-his-flight-logan-airport-then-authorities-discovered-138980-cash-his-bag

Oh wait, I forgot, it's *my* bitcoin, not the government's money. They want the key they can torture me for it.

Note: It is possible this was an international flight where you do have to declare >10k for customs purposes. But still this does not sound like a job for TSA....

in the past I have seen posts where people discussed the need to declare value if bitcoin you carry too.

Still, it's unclear whenever we cross-border, if we have bitcoin that needs to be declared. Because even if it's not a hardware wallet, I control my bitcoin through phone or basic internet. Similarly, I control fiat also through my phone in bank accounts or credit/debit cards of multiple countries.

So I don't think Bitcoin needs to be declared when you cross the boarder.

The trouble is: at the gate you aren’t the one doing the thinking. TSA does...  

If you don't have to declare money in your centralized bank, you shouldn't have to in the decentralized one either. But i wouldn't put it past TSA to start doing lobotomies to make sure their citizens didn't board the plane with those 12 words memorized. (Heard roach was the first one to volunteer for that procedure, let's just say it didn't go too well for him)

[LUCKMCFLY]

A very good analysis ..

Bitcoin Breaks Key Hurdle: Here’s Why It Could Revisit $10,000

It is testing the 23.6% Fib retracement level of the recent rally from the $9,108 low to $9,624 high.

Technical indicators:

Hourly MACD – The MACD is slowly reducing its current bullish slope.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently well above the 60 level.

Major Support Levels – $9,350 followed by $9,300.

Major Resistance Levels – $9,650, $9,800 and $10,000.

Source: https://www.newsbtc.com/2020/05/29/bitcoin-btc-could-revisit-10000/

[Bossian]

A very good analysis ..

Bitcoin Breaks Key Hurdle: Here’s Why It Could Revisit $10,000

It is testing the 23.6% Fib retracement level of the recent rally from the $9,108 low to $9,624 high.

Technical indicators:

Hourly MACD – The MACD is slowly reducing its current bullish slope.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently well above the 60 level.

Major Support Levels – $9,350 followed by $9,300.

Major Resistance Levels – $9,650, $9,800 and $10,000.

Source: https://www.newsbtc.com/2020/05/29/bitcoin-btc-could-revisit-10000/

Good chart. Agree with the resistances mentioned, if everything goes as planned Bitcoin is on his last leg for an heroic effort to touch $9750 before crashing for good (to 6.8k area, first "easy target" before going lower).
Please note that $10100 would invalidate the downtrend but this price looks very unlikely, $9800 resistance should be too strong as the bulls are missing the firepower  

[Wekkel]

In all fairness, the best TA articles are the ones that prove right .... in hindsight 

TA permits us to see basically anything in charts. For instance:

• in the channel
• drop outside the channel
• (classic) retest in progress
• big drop after failing to re-enter the channel?

I'm placing my bet at HODL.

[El duderino_]

Please do not belief to much in magical barriers of prices......

There is non when we touch this then that happens and sh*t .....

You will figure out sooner or later, just hope it isn’t later

Aaaand please don’t believe in the story of there isn’t enough firepower


@bossian

[bitebits]

[...] $9800 resistance should be too strong as the bulls are missing the firepower 

Bulls have unlimited dollars while bears have limited bitcoins. Few understand this, but those who do are sitting comfortably.

[Wekkel]

We'll know by 3 June 

[Karartma1]

Wait, if I learn by heart my whatever long seed and that's the passphrase for all my bitcoin shall I declare it?
Are you guys nuts?
Nothing on your phone, nothing on your notebook, nothing when you cross the borders.
Be like the average Joe: iPhone with candy crash, yahoo finance and your mobile banking app. That's it.
When you cross the border you don't declare, because there's nothing to declare.

Easy

[BayAreaCoins]

Websites like https://bitcoinfees.earn.com/api/v1/fees/recommended are T-R-A-S-H these days.

Paying way too much!

Bitcoin Core does a really great job of estimating nowadays though.  Thank fuck.

[Karartma1]

[...] $9800 resistance should be too strong as the bulls are missing the firepower 

Bulls have unlimited dollars while bears have limited bitcoins. Few understand this, but those who do are sitting comfortably.

True, but don't forget about fractional reserve: do you believe every exchange plays by the rules by maintaining a full reserve? This is not the case and in fact by looking at the amount of BTC that are leaving exchanges this is becoming a big thing.
But as you said, one day people will realize that their infinite dollars will not be able to buy limited bitcoins.

[vapourminer]

True, but don't forget about fractional reserve: do you believe every exchange plays by the rules by maintaining a full reserve? This is not the case and in fact by looking at the amount of BTC that are leaving exchanges this is becoming a big thing.

proof of keys day exists for this reason. January 3rd. pull all btc (indeed anything else too) from any exchanges you may have some corn/whatever in.

[VB1001]

Bitcoin Core PR Review Club

What is this?  A weekly club for reviewing Bitcoin Core PRs at 17:00 UTC on Wednesdays on IRC.

What’s it for?  To help newer contributors learn about the Bitcoin Core review process. The review club is not primarily intended to help open PRs get merged (although that might be a nice side-effect).

Who should take part?  Anyone who wants to learn about contributing to Bitcoin Core. All are welcome to come and ask questions!

https://bitcoincore.reviews/

[serveria.com]

I read this name mindrust a lot, can someone remind me who that was ??

JJG perhaps??

There once was a coiner, whose name was mindrust,
He posted in WO, and gained our trust.
But little did he know,
He would suffer a blow,
When he did the unthinkable, and sold all his stash!

Even r0ach would agree that this move was quite baffling,
It's Bitcoin 101, you just don't sell pre-Halving.
But his mind was all rusted,
It was Masterluc he trusted,
So he blindly followed his all-bearish rumbling!

He blames COVID-19 for his panic reaction,
"Armageddon is coming, I just had to take action."
Now his Bitcoins are sold,
He is turning to gold,
In a desperate attempt to get some satisfaction.

Many WO'ers advised him to buy back some corn,
But he just couldn't live with the thought of being wrong.
Now he hears of Bitcoin,
And gets a pain in his groin,
Because deep down he knows, that his chance is now gone!

I know that those limericks are shitty as hell,
And I know that Jimbo's shit, as everyone's, smell.
I just hope that they serve,
To help us all keep our nerve,
And never ever give in to the pressure to sell!

And if all of the above hasn't made you, mindrust,
Reconsider, and quickly get some corn in your stash,
It won't be r0aches or ants,
At the seat of your pants,
But the boot of a HoDLer kicking your stubborn fat ass!

Some great poetry man. Gave you all my remaining merits...

[ivomm]

I read this name mindrust a lot, can someone remind me who that was ??

JJG perhaps??

There once was a coiner, whose name was mindrust,
He posted in WO, and gained our trust.
But little did he know,
He would suffer a blow,
When he did the unthinkable, and sold all his stash!

Even r0ach would agree that this move was quite baffling,
It's Bitcoin 101, you just don't sell pre-Halving.
But his mind was all rusted,
It was Masterluc he trusted,
So he blindly followed his all-bearish rumbling!

He blames COVID-19 for his panic reaction,
"Armageddon is coming, I just had to take action."
Now his Bitcoins are sold,
He is turning to gold,
In a desperate attempt to get some satisfaction.

Many WO'ers advised him to buy back some corn,
But he just couldn't live with the thought of being wrong.
Now he hears of Bitcoin,
And gets a pain in his groin,
Because deep down he knows, that his chance is now gone!

I know that those limericks are shitty as hell,
And I know that Jimbo's shit, as everyone's, smell.
I just hope that they serve,
To help us all keep our nerve,
And never ever give in to the pressure to sell!

And if all of the above hasn't made you, mindrust,
Reconsider, and quickly get some corn in your stash,
It won't be r0aches or ants,
At the seat of your pants,
But the boot of a HoDLer kicking your stubborn fat ass!

Some great poetry man. Gave you all my remaining merits...

Man, it sucks to me nomeriter like me. Still it's better than nocoiner. #nofiater

[vapourminer]

this should be pinned. or stickied, whatever the term is.

There once was a coiner, whose name was mindrust,
He posted in WO, and gained our trust.
But little did he know,
He would suffer a blow,
When he did the unthinkable, and sold all his stash!

Even r0ach would agree that this move was quite baffling,
It's Bitcoin 101, you just don't sell pre-Halving.
But his mind was all rusted,
It was Masterluc he trusted,
So he blindly followed his all-bearish rumbling!

He blames COVID-19 for his panic reaction,
"Armageddon is coming, I just had to take action."
Now his Bitcoins are sold,
He is turning to gold,
In a desperate attempt to get some satisfaction.

Many WO'ers advised him to buy back some corn,
But he just couldn't live with the thought of being wrong.
Now he hears of Bitcoin,
And gets a pain in his groin,
Because deep down he knows, that his chance is now gone!

I know that those limericks are shitty as hell,
And I know that Jimbo's shit, as everyone's, smell.
I just hope that they serve,
To help us all keep our nerve,
And never ever give in to the pressure to sell!

And if all of the above hasn't made you, mindrust,
Reconsider, and quickly get some corn in your stash,
It won't be r0aches or ants,
At the seat of your pants,
But the boot of a HoDLer kicking your stubborn fat ass!