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

[vapourminer]

This is not unusual or a big thing. Saying it was on "two chains" is invalid as there is only one real chain.

It was technically a "block reorganization". Happens all the time. This one was just more significant than all the others, and people ran with the FUD over a trivial number of satoshi.

why was this reorg so important? we have had longer chain reorgs (even 2+ blocks orphaned a few times iirc but its rare). was it just some big shot who had no clue as to how corn and POW works noticed and freaked?

[sirazimuth]

....
Its not every day the 21st day of the 21st year in the 21st century when a value of $21 gets reorganized on a chain with 21 mil coins

doo doo do do doo doo do do......

[wavessurfing]

may we change the unit ?

https://twitter.com/PeterSchiff/status/1352625339944607744

The idea that Bitcoin is scarce as there's only 21 million is nonsense.

One #Bitcoin merely represents an arbitrary quantity of 100 million Satoshis.

So, it's the total number of Satoshis that must be considered. With a supply of 2.1 quadrillion Satoshis are anything but scarce!

[sirazimuth]

...... was it just some big shot who had no clue as to how corn and POW works noticed and freaked?

that....
or maybe some big shot who definitely had a clue as to exactly how corn and POW works, released the FUD, and swiftly bought the expected, ensuing temporary dip.

may we change the unit ?

https://twitter.com/PeterSchiff/status/1352625339944607744

The idea that Bitcoin is scarce as there's only 21 million is nonsense.

One #Bitcoin merely represents an arbitrary quantity of 100 million Satoshis.

So, it's the total number of Satoshis that must be considered. With a supply of 2.1 quadrillion Satoshis are anything but scarce!

Now that's fucking rich. He's just playing on average Joe's ignorance. Small wonder in these times.

[d_eddie]

...... was it just some big shot who had no clue as to how corn and POW works noticed and freaked?

that....
or maybe some big shot who definitely had a clue as to exactly how corn and POW works, released the FUD, and swiftly bought the expected, ensuing temporary dip.

... with at least some nextech complicity.

[sirazimuth]

Hell yeah, BTC. The whale's dream asset....

Billionaire... "I have a few million to play around with....what should I do for a shiggle and instant profit?"
Informed financial advisor who knows his shit..."Have you heard of bitcoin?....."

[explorer]

Yes, but they may have also sold just to lock in some profits, not because of a false believe in a double spend. Don’t assume to quickly.

They sold at the bottom to lock in profits?

I don't think so. They were spooked by something they didn't understand.

Let the name Nextech go next to Mindrust on the no-coiner sell-at-the-bottom wall of shame.

NilTech

[BobLawblaw]

why was this reorg so important?

It wasn't important at all. Massive FUD overdrive yesterday. Stacked another ~0.15 BTC, so can't be too angry with how things worked out.

[True Myth]

So, is it time to buy back in after panic selling at the bottom or do we wait another $2 - $3k? 
I've not sold a single sat

[explorer]

So, is it time to buy back in after panic selling at the bottom or do we wait another $2 - $3k? 
I've not sold a single sat

   No, you can't be sure NGU until at least 100k

[yefi]

may we change the unit ?

https://twitter.com/PeterSchiff/status/1352625339944607744

The idea that Bitcoin is scarce as there's only 21 million is nonsense.

One #Bitcoin merely represents an arbitrary quantity of 100 million Satoshis.

So, it's the total number of Satoshis that must be considered. With a supply of 2.1 quadrillion Satoshis are anything but scarce!

Well that's nothing, I just discovered that an oz of gold merely represents 95 sextillion gold atoms.

With a supply of about 600 nonillion atoms, gold is anything but scarce!

[El duderino_]

[True Myth]

may we change the unit ?

https://twitter.com/PeterSchiff/status/1352625339944607744

The idea that Bitcoin is scarce as there's only 21 million is nonsense.

One #Bitcoin merely represents an arbitrary quantity of 100 million Satoshis.

So, it's the total number of Satoshis that must be considered. With a supply of 2.1 quadrillion Satoshis are anything but scarce!

Well that's nothing, I just discovered that an oz of gold merely represents 95 sextillion gold atoms.

With a supply of about 600 nonillion atoms, gold is anything but scarce!

I'm thinking maybe we should start using Honest Politicians as a store of value.  Surely they are scarce...

[El duderino_]

https://twitter.com/bitstein/status/1352423991114403841?s=21

[True Myth]

may we change the unit ?

https://twitter.com/PeterSchiff/status/1352625339944607744

The idea that Bitcoin is scarce as there's only 21 million is nonsense.

One #Bitcoin merely represents an arbitrary quantity of 100 million Satoshis.

So, it's the total number of Satoshis that must be considered. With a supply of 2.1 quadrillion Satoshis are anything but scarce!

Well that's nothing, I just discovered that an oz of gold merely represents 95 sextillion gold atoms.

With a supply of about 600 nonillion atoms, gold is anything but scarce!

Also... did you see the replies lol

[heslo]

may we change the unit ?

https://twitter.com/PeterSchiff/status/1352625339944607744

The idea that Bitcoin is scarce as there's only 21 million is nonsense.

One #Bitcoin merely represents an arbitrary quantity of 100 million Satoshis.

So, it's the total number of Satoshis that must be considered. With a supply of 2.1 quadrillion Satoshis are anything but scarce!

LMAO changing the decimal place doesn't make supply any less finite.... what a gug

[bct_ail]

https://twitter.com/bitstein/status/1352423991114403841?s=21

I don't think these old guys understand what happened at all.

[soullyG]

may we change the unit ?

https://twitter.com/PeterSchiff/status/1352625339944607744

The idea that Bitcoin is scarce as there's only 21 million is nonsense.

One #Bitcoin merely represents an arbitrary quantity of 100 million Satoshis.

So, it's the total number of Satoshis that must be considered. With a supply of 2.1 quadrillion Satoshis are anything but scarce!

LMAO changing the decimal place doesn't make supply any less finite.... what a gug

No way he's being serious. The guy is talking his bag (or lack of it) as per usual.

[El duderino_]

HODLsleep

[El duderino_]

HODLsleep