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

[Elwar]

We need to earn on DEXes-that's the real way forward.

The "best" DEXes are on non-bitcoin chains / networks. You know it. I know it. But would you actually turn your BTC corns into something else? The "safest" is to just be a liquidity provider for the stable coins so you don't get any impermanent losses, since both of them will be almost at the same value for as long as you leave it there.

I mean, 1 USDT = 1 USDC = 1 DAI (or other dollar stablecoin) or very close to it.

I really do not see how it is possible to make money on staking and DeFi with gas being $50-100 for a transaction. The only way anyone will use a DEX is if they're trading millions.

I think atomic swaps, bisq and Lightning make more sense for a DEX. Lightning colored coins looked like a great solution for the ability to issue "tokens". Admittedly, my hope for Bitcoin as an every day currency is hampered by the high transaction fees. But LN creates the possibility. I also understand how difficult LN is as well.

Most people don't like them but I like Blockstream's Liquid solution for all of this. For the simple fact that they are practicing advanced Bitcoin features on their sidechain which includes Bitcoin native smart transactions.

For much of what we all talk about, the poor stock market, the poor system of governance in place right now, we need to have effective alternatives in place before we do any work to bring it all down. Otherwise an even worse solution will get implemented.

[macson]

https://twitter.com/ICOffender/status/1308669800286220288

[xhomerx10]

https://twitter.com/ICOffender/status/1308669800286220288

 I hear that song on Coast to Coast AM all the time.  Love it!

[xhomerx10]

That Portnoy guy is like, the worst investor I’ve seen since mindrust.

Makes you wonder how he got rich in the first place.

 He got rich talking sports and shit online - somebody bought half of his company for a ton of money and let him continue to do as he was doing previously.  He's got shitloads of money to waste - and I think he makes more money by publicly losing money.... and eating pizza with celebrities.  I'm not a fan.

[Elwar]

We need to earn on DEXes-that's the real way forward.

The "best" DEXes are on non-bitcoin chains / networks. You know it. I know it. But would you actually turn your BTC corns into something else? The "safest" is to just be a liquidity provider for the stable coins so you don't get any impermanent losses, since both of them will be almost at the same value for as long as you leave it there.

I mean, 1 USDT = 1 USDC = 1 DAI (or other dollar stablecoin) or very close to it.

I really do not see how it is possible to make money on staking and DeFi with gas being $50-100 for a transaction. The only way anyone will use a DEX is if they're trading millions.

I think atomic swaps, bisq and Lightning make more sense for a DEX. Lightning colored coins looked like a great solution for the ability to issue "tokens". Admittedly, my hope for Bitcoin as an every day currency is hampered by the high transaction fees. But LN creates the possibility. I also understand how difficult LN is as well.

Most people don't like them but I like Blockstream's Liquid solution for all of this. For the simple fact that they are practicing advanced Bitcoin features on their sidechain which includes Bitcoin native smart transactions.

For much of what we all talk about, the poor stock market, the poor system of governance in place right now, we need to have effective alternatives in place before we do any work to bring it all down. Otherwise an even worse solution will get implemented.

Just a quick search on how LN colored coins are doing these days and I found this impressive project:

https://github.com/LNP-BP/FAQ/blob/master/Presentation%20slides/RGB%20%26%20Spectrum%20explanation%20for%20business.pdf

[cAPSLOCK]

That Portnoy guy is like, the worst investor I’ve seen since mindrust.

Makes you wonder how he got rich in the first place.

You telling me that exposing yourself to a 700k loss on "memes" is not the traits of a sound trader?

Imagine the BTC he could have bought instead, lol.

I sent a guy a lot of bitcoin for the rights to the "Over 9000" meme.

I think it's probably about time I check with him to see how much money I made. I think it was probably a whole lot. That was going on for quite a while.

I may re-invest into the "that escalated quickly" meme.

Ah... I own that one...  I will start the bidding at 2btc, but I guarantee it will *ahem* "go up fast"...

[cAPSLOCK]

We need to earn on DEXes-that's the real way forward.

The "best" DEXes are on non-bitcoin chains / networks. You know it. I know it. But would you actually turn your BTC corns into something else? The "safest" is to just be a liquidity provider for the stable coins so you don't get any impermanent losses, since both of them will be almost at the same value for as long as you leave it there.

I mean, 1 USDT = 1 USDC = 1 DAI (or other dollar stablecoin) or very close to it.

I really do not see how it is possible to make money on staking and DeFi with gas being $50-100 for a transaction. The only way anyone will use a DEX is if they're trading millions.

I think atomic swaps, bisq and Lightning make more sense for a DEX. Lightning colored coins looked like a great solution for the ability to issue "tokens". Admittedly, my hope for Bitcoin as an every day currency is hampered by the high transaction fees. But LN creates the possibility. I also understand how difficult LN is as well.

Most people don't like them but I like Blockstream's Liquid solution for all of this. For the simple fact that they are practicing advanced Bitcoin features on their sidechain which includes Bitcoin native smart transactions.

For much of what we all talk about, the poor stock market, the poor system of governance in place right now, we need to have effective alternatives in place before we do any work to bring it all down. Otherwise an even worse solution will get implemented.

I had not even read your whole post before I was composing a "what about Liquid" response  (human nature...)

But I honestly believe Adam Back and friends really really have set up a sleeper layer two solution that will most likely seem to come out of nowhere later this year or next.

Here's the beauty:

Cashapp, Bakkt, Paypal and friends?  Custodian 100% trusted layer 2.  Super smooth transactions... super vulnerable model.

Lightning?  Trust minimized, smart contract based layer 2.  Fast, Hard to use, doesn't always work (yet) not great for ginormous tx.

Liquid?  Federated trust model.  So, somewhere between the other two. Distributed.  Hard to shut down.  Multi jurisdictional.  FAST,  cheap...  Much wow.  Already working with tokens (USDT for example. I have a couple in my green wallet!)

All three have tradeoffs.  Liquid might be closest to the sweet spot.

Future?  Atomic swaps, bisq improvements, lightning improvements.. etc...

But does anyone else see the Liquid tradeoffs as kinda really good?

[Krubster]

It looks like our consolidation is about to end. I think we are in for a big move any day now.

We already broke out of the triangle. We also just recently had a golden cross on the 6H EMA 21/55. That has happened two times before since this bull run started in October last year, and see what happened to the price after that (see the arrows on the charts for when that occurred).



Let's see how well this prediction will age. Hodlers unaffected as always.

[Sayeds56]

It looks like our consolidation is about to end. I think we are in for a big move any day now.

We already broke out of the triangle. We also just recently had a golden cross on the 6H EMA 21/55. That has happened two times before since this bull run started in October last year, and see what happened to the price after that (see the arrows on the charts for when that occurred).



Let's see how well this prediction will age. Hodlers unaffected as always.

You are absolutely right, a Descending triangle breakout is likely to happen and BTC could revisit 38K.

[Luthier]

You are absolutely right, a breakout is likely to happen has happened and BTC could revisit 38K hit 80k.

ftfy 

[600watt]

You are absolutely right, a breakout is likely to happen has happened and BTC could revisit 38K hit 80k.

ftfy 

you were a merit virgin and i couldnt resist.

0.25 merit per letter is rather efficient by the way.

[Sayeds56]

You are absolutely right, a breakout is likely to happen has happened and BTC could revisit 38K hit 80k.

ftfy  

you were a merit virgin and i couldnt resist.

0.25 merit per letter is rather efficient by the way.

BTC is facing tough resistance around 37K.

[OutOfMemory]

According to my 4h lines, BTC should be bouncing up to around $38k soon.
So it is likely to tank a bit more *lol*

[Hhampuz]

According to my 4h lines, BTC should be bouncing up to around $38k soon.
So it is likely to tank a bit more *lol*

Funny! My 4h lines say... sideways for 6 months.

[OutOfMemory]

According to my 4h lines, BTC should be bouncing up to around $38k soon.
So it is likely to tank a bit more *lol*

Funny! My 4h lines say... sideways for 6 months.

Sideways in 4h, like ranging between $35k-$37k?

[El duderino_]

[Hhampuz]

According to my 4h lines, BTC should be bouncing up to around $38k soon.
So it is likely to tank a bit more *lol*

Funny! My 4h lines say... sideways for 6 months.

Sideways in 4h, like ranging between $35k-$37k?

Upper 33k to lower 37k, ya

[El duderino_]

According to my 4h lines, BTC should be bouncing up to around $38k soon.
So it is likely to tank a bit more *lol*

Funny! My 4h lines say... sideways for 6 months.

Check your other 4h lines  

[El duderino_]

https://twitter.com/100trillionusd/status/1356606408997879808?s=21

My X-h  just says planB 

[OutOfMemory]

According to my 4h lines, BTC should be bouncing up to around $38k soon.
So it is likely to tank a bit more *lol*

Funny! My 4h lines say... sideways for 6 months.

Sideways in 4h, like ranging between $35k-$37k?

Upper 33k to lower 37k, ya

Kudos. My lines just got invalidated.
TA is useless. 
We're poor again, but we're still having fun