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

[cAPSLOCK]

Talking about all ahead one third, have you heard that Elwars cruise ship Satoshi is getting scrapped?
They couldn't get insurance.

https://mailchi.mp/ba2ecae563e0/satoshis-final-voyage?e=613696359f

Oh man.  That REALLY stinks.

[savetherainforest]

What bull market??   ... We are flat lining for a few months now. Until you see 200% rise per month, there is nothing to see here.

[cAPSLOCK]

Trolololo's 2014 updated chart.

$100k @ 16-07-2021?

Not enough S in trollolol's curve.

[OROBTC]

...

The "Christmas Star" is now out tonight (western sky in the USA).  This happens when the planets Jupiter and Saturn get very close to each other in the sky.  Tomorrow the two planets will be so close that they will look like one star.

This happens very rarely.  After tomorrow, it will not happen again in our lifetimes.  *



* astronomy nerd as a kid

[xhomerx10]

https://www.foxnews.com/world/russian-scientist-covid-19-vaccine-death-st-petersburg

 
 Well that's just great! The Russian Covid vaccine's side effects include plummeting and stab wounds.  Hopefully these side effects aren't prevalent with our vaccine (if we get one that works on the current mutation)

[xhomerx10]

...

The "Christmas Star" is now out tonight (western sky in the USA).  This happens when the planets Jupiter and Saturn get very close to each other in the sky.  Tomorrow the two planets will be so close that they will look like one star.

This happens very rarely.  After tomorrow, it will not happen again in our lifetimes.  *



* astronomy nerd as a kid

 Thanks for the heads up - this is something I wanted to see and didn't realize it was today!  Time flies when you're watching ATHs.
Just checked the current cloud cover in my area and it'll be about 2 hours before we have clear skies (even if only briefly).  Hoping they haven't set by then.

[Elwar]

The demand for cabins was nil. Even with the lowest prices we could possibly offer and break even, nobody wanted to live on it.

While I'm sympathetic with the whole seasteading idea and I respect you for standing up and actually trying to do something rather than enjoying your likely riches, this is the critical bit, as several posts have already pointed out.

The prices you quoted ("starting from" - which seems to threaten much higher numbers) weren't that high in themselves, but that would only get you an inner cabin - no sea view. Basically, a closet to sleep in and not much more.

But the real issues come when one actually considers the reality of living there. Maintenance expenses that look like a real menace. Who's going to pay for the fuel, the food, the cleaning? Rhetorical question: me of course. I'm not sure the "only BTC accepted" policy was expressely stated by you, but it's as likely as not, and it doesn't look good to an oldschool hodler. Would it have been just crappy fiat - well, maybe, who knows. But my cornz? OMG nooo!

Imagine having to splurge btc for every drink. Maybe for plain water, too... with the monopoly market that inevitably ensues on such a closed, isolated community. Mostly consisting in millionaires, go figure. Scary as hell for the small fish.

I won't even mention the risk of having dinner table neighbors that engage in endless, unsolicited tirades. Oops, I just did! (j/k)

And with the hard rules about living onboard - rules usually made and enforced by the captain, not the stakeholders, there's the sizable risk of imaginary freedom turning into perpetual obedience. The thing we were trying to run away from in the first place.

An auction usually "starts from". Out of 100 rooms for sale during the auction only 10 were sold. So in every category of cabin you could have purchased at the lowest price. We wanted the auction to catch any problems where someone wants two rooms right next to each other or in front of each other but someone else wants that room. Let the highest bidder have it.

Correct about paying for food and electricity. You have to pay for your own food. I know it's kinda crazy to consider no free food but we were trying something quite radical.

I'm not sure what you mean by "hard rules about living onboard". You think there would be more rules on a ship run by anarchists than the island that was .5 miles from the ship or on land that was 6 miles from the ship?

Did people truly think we were putting the ship 200 miles out in middle of international waters with no way to escape?

We were closer to downtown Panama City than commuters that drive to the city every day from out of town. People living in the outer suburbs could have literally rented a cabin on the ship and commuted to work and been to the city faster than their former neighbors. People literally live on the island that would be swimming distance from the ship.

If this is what people believed it may have been our marketing that did us in.

Then again, we realized that the Internet is for talking. Not for doing. We believed people wanted a sort of Bitcoin city as a testing ground for living on bitcoin. We believed people wanted to test out seasteading even if it was just the first step at a much cheaper price than any seastead in the future will ever ever be again (we paid less than scrap prices for what was essentially a ready made seastead, just the cost of the raw material). All future seasteads will need to pay for not only the raw material but the labor, shipyard costs, government interference, and likely a company that actually wants to make a profit instead of a couple of guys that want to make something happen so much that they're willing to break even as long as we can make something great happen.

[True Myth]

The demand for cabins was nil. Even with the lowest prices we could possibly offer and break even, nobody wanted to live on it.

While I'm sympathetic with the whole seasteading idea and I respect you for standing up and actually trying to do something rather than enjoying your likely riches, this is the critical bit, as several posts have already pointed out.

The prices you quoted ("starting from" - which seems to threaten much higher numbers) weren't that high in themselves, but that would only get you an inner cabin - no sea view. Basically, a closet to sleep in and not much more.

But the real issues come when one actually considers the reality of living there. Maintenance expenses that look like a real menace. Who's going to pay for the fuel, the food, the cleaning? Rhetorical question: me of course. I'm not sure the "only BTC accepted" policy was expressely stated by you, but it's as likely as not, and it doesn't look good to an oldschool hodler. Would it have been just crappy fiat - well, maybe, who knows. But my cornz? OMG nooo!

Imagine having to splurge btc for every drink. Maybe for plain water, too... with the monopoly market that inevitably ensues on such a closed, isolated community. Mostly consisting in millionaires, go figure. Scary as hell for the small fish.

I won't even mention the risk of having dinner table neighbors that engage in endless, unsolicited tirades. Oops, I just did! (j/k)

And with the hard rules about living onboard - rules usually made and enforced by the captain, not the stakeholders, there's the sizable risk of imaginary freedom turning into perpetual obedience. The thing we were trying to run away from in the first place.

An auction usually "starts from". Out of 100 rooms for sale during the auction only 10 were sold. So in every category of cabin you could have purchased at the lowest price. We wanted the auction to catch any problems where someone wants two rooms right next to each other or in front of each other but someone else wants that room. Let the highest bidder have it.

Correct about paying for food and electricity. You have to pay for your own food. I know it's kinda crazy to consider no free food but we were trying something quite radical.

I'm not sure what you mean by "hard rules about living onboard". You think there would be more rules on a ship run by anarchists than the island that was .5 miles from the ship or on land that was 6 miles from the ship?

Did people truly think we were putting the ship 200 miles out in middle of international waters with no way to escape?

We were closer to downtown Panama City than commuters that drive to the city every day from out of town. People living in the outer suburbs could have literally rented a cabin on the ship and commuted to work and been to the city faster than their former neighbors. People literally live on the island that would be swimming distance from the ship.

If this is what people believed it may have been our marketing that did us in.

Then again, we realized that the Internet is for talking. Not for doing. We believed people wanted a sort of Bitcoin city as a testing ground for living on bitcoin. We believed people wanted to test out seasteading even if it was just the first step at a much cheaper price than any seastead in the future will ever ever be again (we paid less than scrap prices for what was essentially a ready made seastead, just the cost of the raw material). All future seasteads will need to pay for not only the raw material but the labor, shipyard costs, government interference, and likely a company that actually wants to make a profit instead of a couple of guys that want to make something happen so much that they're willing to break even as long as we can make something great happen.

Your passion is inspiring.  If there is one thing in this life that is worth living for its passion for what you believe in.  I for one, did check your prices and offerings. I thought they were quite fair. Unfortunately, I'm not in a position to pursue that living at this point in my life.

Best of luck in future endeavors.

* Edit
If your approach to this was from a business perspective, it truly was a niche market.  Must like sea life and own bitcoin is unfortunately a very small percentage of the current day population.

[True Myth]

There are an awful lot of consecutive green daily candles lately. Total of 8 to be precise.

Last time we had 8 in a row was back in June 2019.

Obligatory 9th red candle achieved. Next 8 green daily  candle run may now commence.

[sirazimuth]

If you (American citizen who qualified for 1st stimulus payment) turned your $1200 free money check from the government into bitcoin on  April 30, 2020 (bitcoin@$8,784) it would now be worth  $3210. (approx)
(and yes, I understand that most folks weren't in a position to do this, sadly. I'm just saying.)

Now it looks like more free money in the works....GO BITCOIN!!

....

(oops! post delete!... I gotta remember to scan back in thread before posting a "new" bitcoin related tweet, because if it's more than 30 seconds old, it has already been posted here, lol)

[lightfoot]

If you (American citizen who qualified for 1st stimulus payment) turned your $1200 free money check from the government into bitcoin on  April 30, 2020 (bitcoin@$8,784) it would now be worth  $3210. (approx)
(and yes, I understand that most folks weren't in a position to do this, sadly. I'm just saying.)

Now it looks like more free money in the works....GO BITCOIN!!

....

(oops! post delete!... I gotta remember to scan back in thread before posting a "new" bitcoin related tweet, because if it's more than 30 seconds old, it has already been posted here, lol)

Yup. I put half in bitcoin, half went to the food bank. Probably do the same with the next one, I really wish the Govt would stop sending money and start sending btc.

[True Myth]

Observing upward price pressure on the BTC front.

$23,860 USD currently and moving upward.

Buy walls supporting at least a short push to $24k again.

[sirazimuth]

half went to the food bank. Probably do the same with the next one, I really wish the Govt would stop sending money and start sending btc.

Kudos to you dude. That's very generous. Maybe I best start working on your medallion.

(img.unavailable atm) 

[philipma1957]

What bull market??   ... We are flat lining for a few months now. Until you see 200% rise per month, there is nothing to see here.

You are  right. this is 2016 and next year will be 2017 which means we push 15-20x todays price.

Around december 21 , 2020

[philipma1957]

If you (American citizen who qualified for 1st stimulus payment) turned your $1200 free money check from the government into bitcoin on  April 30, 2020 (bitcoin@$8,784) it would now be worth  $3210. (approx)
(and yes, I understand that most folks weren't in a position to do this, sadly. I'm just saying.)

Now it looks like more free money in the works....GO BITCOIN!!

....

(oops! post delete!... I gotta remember to scan back in thread before posting a "new" bitcoin related tweet, because if it's more than 30 seconds old, it has already been posted here, lol)

Yup. I put half in bitcoin, half went to the food bank. Probably do the same with the next one, I really wish the Govt would stop sending money and start sending btc.

Norway kind of did this.

[Toxic2040]

evening charts

#dyor

lion leads baby elephant thru the jungle
1h


dragon raises head above water
4h


has anyone seen the mastodon 
D


price discovery continues..there are cookies involved    carry on
W

#stronghands



---------

Happy Solstice everyone

be blessed you and your family

welcome to the dawn of a new Age

[marcus_of_augustus]

Ophiuchus is in charge... "Christmas Star" Jupiter -Saturn planetary conjunction is happening in Ophiuchus ... ushers in Age of Aquarius.



Happy Solstice and here's to the beginning of a new age.

[Phil_S]

https://www.foxnews.com/world/russian-scientist-covid-19-vaccine-death-st-petersburg

 
 Well that's just great! The Russian Covid vaccine's side effects include plummeting and stab wounds.  Hopefully these side effects aren't prevalent with our vaccine (if we get one that works on the current mutation)

I wouldn't be surpised if Russian media publishes similar FUD about Pfizer and Moderna vaccines.

Let's see who wins at the end.

[JayJuanGee]

FinCEN Proposes KYC For Withdrawing Cryptocurrency To Private Wallets 12/18/2020

I 'believe' this only applies to USA BTC/Crypto Exchanges like Coinbase?

https://bitcoinmagazine.com/articles/fincen-proposes-kyc-for-withdrawing-cryptocurrency-to-private-wallets

This shoe just dropped. To me it does not look like that big a deal....and was expected...but I know zip, others on here?

Smarter than myself? I also started a thread for more details. (Hey, it's over my head, need smarter analysis!)

https://bitcointalk.org/index.php?topic=5301400.0

Brad

it does not apply to private hodlers sending bitcoin to each other. only when it touches a companies wallet. which means that every US btc owner will transfer his/her coins to self custody in the next 14 days. less coins available on exchanges = bullish for bitcoin.

I have some difficulities figuring out what to make of these proposed practices that seem to have decent chances of going into effect.  Yeah, of course, they create greater obligations and pretty much deter HODLers from moving their coins to a private wallet, and we still need to know how the fuck the exchanges are going to verify this beyond a mere statement from the HODLer that the wallet that they are transferring to is their own wallet.  Yeah.. burdens.. and perhaps will create some incentives for the creation of more underground kind of transactions..

I am not really going to change too much of what I am doing currently, and will see how it goes.  My personal bitcoin exposure on exchanges is way smaller than it was in 2015/2016, which might have been around xx% or more of my holdings were on exchanges.  Then in about mid 2017 I downgraded to somewhere between about xx%  .. and currently, I  just looked at it, and it appears to be around xx%-ish...  (edited my disclosed percentages for reasons.. hahahaha... you fucks!!!).   I am just going to ride it out, and see what it does.  I have already been KYC'd on those on exchange coins anyhow, and I was not even considering transferring those coins out, even within a variety of scenarios, including having to report them.. those are merely coins that could be liquidated on a BTC run, if I were to so choose.. and yeah, sometimes moving coins around and changing your system based on fucktwats.. whether governments or otherwise, can cause issues too, but I understand the motivation and rationale that comes from what seems to be proposed currently.. and there are likely BTC HODLers who are way too overexposed in terms of NOT even having coins under their own control, and these kinds of proposed practices should cause some reflection upon risks that they are taking in that direction.. and whether that risk is sufficiently balanced.

This is another example of unanticipated risks of Bitcoin, especially of the Big Rhino variety.  My worry (for years) has been that while the Bitcoin Ecosystem is essentially unbreakable itself (managed properly by HODLers), it is the Entrance and Exit Ramps that are vulnerable to strict controls.  It is clear enough to me that Bitcoin will come under further scrutiny and regulation as .gov loses more and more control (and their financial need/greed rises exponentially...).  

Any doubts that .gov will likely grow ever more authoritarian?  Look at England locking down London right now...

Since no one can predict the future (and major technology changes), prudence suggests not holding too much of net assets in BTC.  I understand (and accept to a degree) the arguments of "betting on the fastest horse" (etc.), but there are ample precedents showing danger of being too concentrated.  Just now I read above about Elwar's Satoshi project not working out due to, in essence, a Big Rhino problem.

The NICE BUMP up in BTC price has been useful for me.  I very recently sold a smidge, continuing my strategy of taking some profits.  BTC rose to well over 1% of my net, yet my sales were not enough to drag that down to the ~1%.

One should not be afraid of diversification and taking some profits along the way in an asset that really does look to be world-changing.  Taking some profits along the way, however, does not lessen my enthusiasm for this wonderful new asset class that Satoshi (et al) have invented for us all.

My comment was in regards to how much I personally was going to take off exchanges in response to the draconian proposals that are likely to go through, and my conclusion is that I have already reduced a lot of that risk and I am willing to let ride what I have on the exchanges and to see how this plays out.

Your take on the matter, OROBTC, seems to be nearly the opposite of mine and you are concluding that the whole BTC industry is too risky based on these kinds of attacks, and I hardly believe that BTC is in a worse position than it was in 2013-2019 - and in fact, BTC seems to be even in a stronger position with the passage of time, lindy effect and continued strengthening in a variety of regards, including institutional focuses on it.. and all of this aspect of bitcoin being stronger seems to be why some government or even quasi-government entities are going all draconian, as a kind of overkill that might well end up back-firing on their asses...

And, also like Biodom said in his response to you.  You seem way too fucking whimpy in regards to how much you are allocating in Bitcoin, and sure, I said this to you before, OROBTC - and of  course, you are a BIG boy so you can decide for yourself how much to allocate into bitcoin and how often to reallocate to keep your allocation in bitcoin manageable and reasonable... I, personally, am hardly saying any of that.

Even though I regularly shave bitcoin profits off as the BTC price goes up, my shaving off of BTC profits is systematic and it is whimpy as fuck in the shaving off department - which even recently instead of shaving off 1% for every 10% rise, I am more like shaving off half of that.  So for the most part, I let my BTC profits ride - which has been doing very good for me.. and my non-bitcoin investments are still big enough to sustain my lifestyle (the one that I am leading so far), so I personally do not feel over-invested at all in BTC even though BTC is getting close to 90% of my total holdings in various quasi-liquid assets, and that 90% calculation has to do with BTC price appreciation rather than my investing high amounts... and I cannot hardly justify taking money off the table, just to feel better when bitcoin is doing very good and likely to continue to do very good for a variety of reasons that we have gone over in this thread a multitude of times.

[JayJuanGee]

Gentlemen.

After very good profit from this rise now BobLawblaw is going to have one giveaway for WO members

Beers (and blowjobs), perhaps?  


 

I hope mindrust is doing alright.

I hope so too. I remember panic-selling back in 2013 or 2014 I think, during a pretty savage dip, but fortunately I quickly saw the error of my ways and bought back in soon afterwards, but not before losing about 20% of my coins.

I was new to this back then, but I also think it's something that, if you go through it, it's a harsh but necessary teaching experience. I suspect the most resilient of hodlers may have gone through a similar process, and that is why several of us advised mindrust to buy back in as soon as possible. Unfortunately I don't think he followed this advice, so he became a no-coiner. It's sad, but if a few WOers can learn from his experience, more and stronger hodlers will be born.

I believe that he said that he bought back 1 BTC.. .so instead of having 10 BTC, he reduced his BTC bags down to 1 BTC thinking that it was a good way to cause him less emotions - with likely an effect of causing the opposite (in hindsight... as so many of us advised against).

Observing new ATH with relatively low volume.

Also, observing not many large sell walls before $25k

Also... running out of champagne.
#2020BitcoinProblems

*Edit Also, observing JJG in full keyboard warrior mode.

Very astute of you.    

So if mindrust sold 10BTC at $4k and rebought 1BTC at the same price means now he's up to $23k fiat-wise. So if he'd rebuy at least 2BTC instead of 1 he'd be up fiat-wise already now!    

I am kind of going  based on memory.. but I think that he sold his 10 BTC at around $4,500 (he did not sell at the absolute bottom, that would have been even worse fate), and he may have bought back the 1 BTC at around $6k-ish.. perhaps a bit more after he realized that the BTC price did not seem likely to go below his sold price again (even though it did one time a few days after he initially sold).    

So, he has kind of been radio-silent (at least on this thread) regarding whether he bought anymore BTC after buying the one BTC, and he said that he was investing in other projects that he was not going to disclose.  Then we see him posting in other threads about various shitcoins that he bought and also bashing on bitcoin.. so this whole matter has likely triggered pretty strong kinds of cognitive dissonance with him - that is if we can even believe the whole story that he told (which some people were suggesting that his story might not be true.. and I am not quite in that camp, even though the story is quite amazing in the defiance of beliefs arena - if there is such a thing).  

The demand for cabins was nil. Even with the lowest prices we could possibly offer and break even, nobody wanted to live on it.

While I'm sympathetic with the whole seasteading idea and I respect you for standing up and actually trying to do something rather than enjoying your likely riches, this is the critical bit, as several posts have already pointed out.

The prices you quoted ("starting from" - which seems to threaten much higher numbers) weren't that high in themselves, but that would only get you an inner cabin - no sea view. Basically, a closet to sleep in and not much more.

But the real issues come when one actually considers the reality of living there. Maintenance expenses that look like a real menace. Who's going to pay for the fuel, the food, the cleaning? Rhetorical question: me of course. I'm not sure the "only BTC accepted" policy was expressely stated by you, but it's as likely as not, and it doesn't look good to an oldschool hodler. Would it have been just crappy fiat - well, maybe, who knows. But my cornz? OMG nooo!

Imagine having to splurge btc for every drink. Maybe for plain water, too... with the monopoly market that inevitably ensues on such a closed, isolated community. Mostly consisting in millionaires, go figure. Scary as hell for the small fish.

I won't even mention the risk of having dinner table neighbors that engage in endless, unsolicited tirades. Oops, I just did! (j/k)

And with the hard rules about living onboard - rules usually made and enforced by the captain, not the stakeholders, there's the sizable risk of imaginary freedom turning into perpetual obedience. The thing we were trying to run away from in the first place.

Not to mention (I did mention it) issues with dealing with a fucking virus... you can deny it all that you want, but ships are not exactly human friendly when it comes to some kind contagion of a situation.