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

[HairyMaclairy]

As a Texan and Republican, do you support Allan West, Texas GOP Chair, in calling for a break up of the United States?

Technically Libertarian. I’m not sure how I feel about talk of secession. Gut tells me it’s a bad idea.

Ok. Could you kindly provide a bit more detail? 

Why do you think the Texas GOP bringing a bill to secede from the United States is a bad idea?

[1713311034]

1713311034

[1713311034]

1713311034

[1713311034]

1713311034

[1713311034]

1713311034

[Hueristic]

Well deserved.

[Hueristic]

Why do you think the Texas GOP bringing a bill to secede from the United States is a bad idea?

Good luck with that, we all know what happens to those that stand up to the man.

[bitserve]

...snipped...

Your attempt to lock bitcoin into some kind of "intrinsic value" framework seems to either fail and refuse to account for current BTC price prediction model and/or attempts to such framework is worth attempting to lock into bitcoin, as if it were a mature asset class.

Sure, we might look at the lines on the stock to flow model and see that bitcoins price goes above and below such price trajectory lines, so perhaps those stock to flow lines could be characterized as estimations of intrinsic value or the price that bitcoin is worth today, approximately.  Perhaps?  Perhaps?

I know it sounds weird but isn't this what bitcoin is - a decentralized network which runs on the protocol adopted by 'general consensus' using the code adopted by 'general consensus' which is regularly updated and improved by 'general consensus'.

So why shouldn't we calculate the intrinsic value of bitcoin (the currency) with the 'general consensus' approach as well? If we continuosly look into the market, it is very easy to feel the nerves of the traders. So if market shows excessive price support at the certain price such that trend line constantly reverse from that point then we can safely assume that most of the traders feel bitcoin should at least worth this much.

Currently like I said in previous post, the range of $17-17.5K shows the most appropriate instrinsic value. Even yesterday, bitcoin had short-term downtrend but as soon as it came in this range, it experienced strong bounce back and once again started gaining premium. Now it is almost $18.75 and gaining.

can not really believe we've still got muppets coming here whining about "intrinsic value" ... shouldn't you be on a gold bug forum somewhere?

it's a fallacy, there is no such fucking thing as intrinsic value, it doesn't exist. See subjective theory of value

... and then maybe ponder for a while how it is the the human brain that "endows" things with value, that were previously without such a property, i.e. not intrinsic.

Oh yeah, Intrinsic value do indeed "exist" and it is USUALLY important and greatly influence the price of an item.

But you are mostly (for all practical purposes) right... subjective theory of value is what really counts to determine the actual market price of an item no matter what its "intrinsic/objective theoretical value" might be.

[philipma1957]

When Bitcoin will become so big and reach ATH  

Protip:  Merely reaching ATH is not "so big"

We (royal we, of course) are still trying to figure out what "so big" is going to be this time around, but surely "so big" is NOT measured by merely reaching ATH.

   A lot depends on how fast we get there.
  For mining

At current Diff

A price of 25-30K  equals last years 13k price of July.  We corrected quickly after that.

A price of 75-85k equals  dec 2017 19.9 price.  We corrected quickly after that.

17.5 to 19.5k is a pretty good number for mining At current diff.

So if we drift along or rise slowing gear will grow and price will have mining support.

This does not say mining is the only influence on price but it is still a strong factor.

[BobLawblaw]

Ok. Could you kindly provide a bit more detail? 

No. This thread isn’t about me.

[RejectedBanana]

Cognitive dissonance:

The state of having inconsistent thoughts, beliefs, or attitudes, especially as relating to behavioral decisions and attitude change.

[Biodom]

Dear bitcoin, can you go up really fast now, lol?
I have got things to buy, places to go (just found a dream apartment, too much btc to pay rn).
Respectfully yours, ....

#can bitcoin be a secret Santa and do us a solid in the next 6-12 mo? My mirror is cloudy.

[JayJuanGee]

...snipped...

Your attempt to lock bitcoin into some kind of "intrinsic value" framework seems to either fail and refuse to account for current BTC price prediction model and/or attempts to such framework is worth attempting to lock into bitcoin, as if it were a mature asset class.

Sure, we might look at the lines on the stock to flow model and see that bitcoins price goes above and below such price trajectory lines, so perhaps those stock to flow lines could be characterized as estimations of intrinsic value or the price that bitcoin is worth today, approximately.  Perhaps?  Perhaps?

I know it sounds weird but isn't this what bitcoin is - a decentralized network which runs on the protocol adopted by 'general consensus' using the code adopted by 'general consensus' which is regularly updated and improved by 'general consensus'.

So why shouldn't we calculate the intrinsic value of bitcoin (the currency) with the 'general consensus' approach as well? If we continuosly look into the market, it is very easy to feel the nerves of the traders. So if market shows excessive price support at the certain price such that trend line constantly reverse from that point then we can safely assume that most of the traders feel bitcoin should at least worth this much.

Currently like I said in previous post, the range of $17-17.5K shows the most appropriate instrinsic value. Even yesterday, bitcoin had short-term downtrend but as soon as it came in this range, it experienced strong bounce back and once again started gaining premium. Now it is almost $18.75 and gaining.

What you are saying means almost nothing - especially when we are looking at short term BTC price movements.  Even at this particular time, we could have the same kinds of fluctuations in the BTC price in the $9ks or in the $32,500 area...   

Historically, we have seen that bitcoin might consolidate around a price point for weeks and sometimes it will stay there for months or even keep coming back to some kind of revisited price area several times over several years.  Then all of a sudden, down the road, the BTC price is completely divorced from that earlier price..

You need a bit more gumption in your assertions than merely just proclaiming what you say to be true merely because it happens to be happening as you type your post.

In other words, the price consolidation point that you identify could be correct (by chance) or it could be undervalued or overvalued, but you end up drawing significance to it, merely because the BTC price seems to be gravitating around such price point in a relatively short timeframe.

Maybe you should attempt to plug your attempts at framing supposed intrinsic BTC value into the three currently most convincing price models  and then try to flesh out your theory from there over time rather than just proclaiming it to be true at this moment because you say it and observed it.

Sure, you do not need to actually accept the most current seemingly correct BTC price models, so you could end up rejecting those price models.  The three models are: 1) stock to flow, 2) four-year fractal and 3) s-curve exponential adoption based on network effects and metcalfe principles.

[STT]

No absolute certainties but certainly worth watching the probability if we have marked out a high in Dollar index; that'd be a big swing to aid a positive 2021 for BTC.  Generally its hard to predict as every component is a nation also FIAT wanting to keep a roughly similar ratio to Dollar so they continue to export goods at attractive prices presumably.    At some points its hard to keep that ratio like the Swiss and the Euro fix fell apart and I wish I had seen that one but in some ways it was inevitable  so the Swiss found other inventive ways to sell their currency and buy other assets as the ECB trashed the Euro with some bonkers QE programs so Ive read.
   I forget which video this is from but you dont want to watch the full form version when a good idea is simple in its basis and repeated in its nature so self evident.

I want to see if BTC can mark similar action to Thanksgiving with a negative Friday close, positive weekend and rising over the open of the week.   Its still a possible negative scenario as we've drifted a while and lost momentum, stall speed

No. This thread isn’t about me.

Tempting, BobLawblaw Observer thread - movement tracking & discussion

[HI-TEC99]

Dear bitcoin, can you go up really fast now, lol?
I have got things to buy, places to go (just found a dream apartment, too much btc to pay rn).
Respectfully yours, ....

Forget the apartment, stick it out in mom's basement for another year, then you can have a castle with a moat and a drawbridge instead.

[virasog]

0.1BTC or her for the night?

Ofcourse i would want 0.1BTC and once i have that amount i can get many more girls which are even more beautiful then her.
Bitcoin is getting expensive however beauty is getting cheap. 

[HI-TEC99]

0.1BTC or her for the night?

Ofcourse i would want 0.1BTC and once i have that amount i can get many more girls which are even more beautiful then her.
Bitcoin is getting expensive however beauty is getting cheap. 

Is 0.1 BTC really all I need to get loads of beautiful women after I leave mom's basement?

[JohnBitCo]

[sirazimuth]

.....

Thx already @sirazimuth

You are most welcome my friend!
Wrapped and boxed. Will be shipping tomorrow.

[xhomerx10]

BTC @ US$18,900

[OutOfMemory]

waking up to a pump (for ants, but hey...)
could get used to this  

$19.087

[Phil_S]

Back to normal.

[jojo69]

[AlcoHoDL]

Almost like us now, except the dildo is green (luckily).