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

[Gatorelf]

Now everyone wants to embed in Bitcoin, I knew this day would come, little by little those who never believed begin to accept Bitcoin.

Bitcoin soars to new high above $52,000; sustainability concerns rise

Anthony Scaramucci, founder and managing partner of hedge fund SkyBridge Capital and former communications director under the Donald Trump administration, also told CNBC in Wednesday he sees bitcoin hitting $100,000 per unit before the year ends, citing supply and demand. SkyBridge is also invested in bitcoin.

Source: https://www.livemint.com/market/cryptocurrency/bitcoin-soars-to-new-high-above-52-000-sustainability-concerns-rise-11613617486410.html

BlackRock manages $8.7 Trillion,  that's one company having 9market caps of BTC, they can single handedly add another 0 to the current price

1% of 8.7trillion is 87billion

These guys make announcements of intentions after the fact   

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[600watt]

JSRAW, Btway, thanks to you, I came across this idea, ("a year ago, 4 cents could buy 606 satoshis, and it's a pity that we don't use "sats" as a standard, continue to say 0.01 bitcoin, etc") In case there are lightning network fans here, here's a quick LightningATM tutorial written by @21. Overall a very cool concept ...

thanks, man!

it is time for a well established Layer2 solution because on-chain fees are high and to expensive for txs < 100 USD.

https://ycharts.com/indicators/bitcoin_average_transaction_fee

Of course, if everyone just switched over to native segwit addresses they could save 50% on their fees. This would also have the added benefit of allowing more transactions per block too. Anyone out there who complains of fees and are still using legacy addresses deserve it.

old cold stores with legacy addresses will exist nearly the whole time of the Bitcoin life-cycle. even with just the Segwit addresses a Layer2 solution is needed because sometime in the future the fees should replace the block reward nearly completely. (did you not understand the economical base concept of Bitcoin )

either Bitcoin will be become super expensive or at least one reliable Layer2 solution will be established. BTW, it was Satoshi's intention too to get Bitcoin layer2 ready.

Of course I understand that, it would just help in the meantime is all I mean. Layer 2 is coming and it is a good thing, but obviously still needs more time.

How is accounting done off-chain ? Pay another blockchain doin such ?

nah, only on-chain is the way to go - that's real bitcoin

Fuck off to bsv then knob end

indeed, fuck off. 

[somac.]

JSRAW, Btway, thanks to you, I came across this idea, ("a year ago, 4 cents could buy 606 satoshis, and it's a pity that we don't use "sats" as a standard, continue to say 0.01 bitcoin, etc") In case there are lightning network fans here, here's a quick LightningATM tutorial written by @21. Overall a very cool concept ...

thanks, man!

it is time for a well established Layer2 solution because on-chain fees are high and to expensive for txs < 100 USD.

https://ycharts.com/indicators/bitcoin_average_transaction_fee

Of course, if everyone just switched over to native segwit addresses they could save 50% on their fees. This would also have the added benefit of allowing more transactions per block too. Anyone out there who complains of fees and are still using legacy addresses deserve it.

old cold stores with legacy addresses will exist nearly the whole time of the Bitcoin life-cycle. even with just the Segwit addresses a Layer2 solution is needed because sometime in the future the fees should replace the block reward nearly completely. (did you not understand the economical base concept of Bitcoin )

either Bitcoin will be become super expensive or at least one reliable Layer2 solution will be established. BTW, it was Satoshi's intention too to get Bitcoin layer2 ready.

Of course I understand that, it would just help in the meantime is all I mean. Layer 2 is coming and it is a good thing, but obviously still needs more time.

How is accounting done off-chain ? Pay another blockchain doin such ?

nah, only on-chain is the way to go - that's real bitcoin

So we're in agreement then, you are a retard.

[El duderino_]

In the last bull market the price of bitcoin ranged between $600 and $20,000.

In terms of sentiment, I would say we are roughly where we were when bitcoin was $3,000 last time.

Or about 5x from the low.

What do you think?
https://twitter.com/jillruthcarlson/status/1362084275621793794?s=20


What do we think? Could be reasonable

[somac.]

A lot of good shit from Raoul Pal in this one. Some very good charts

https://twitter.com/RaoulGMI/status/1361509921624317952

[tertius993]

In the last bull market the price of bitcoin ranged between $600 and $20,000.

In terms of sentiment, I would say we are roughly where we were when bitcoin was $3,000 last time.

Or about 5x from the low.

What do you think?
https://twitter.com/jillruthcarlson/status/1362084275621793794?s=20


What do we think? Could be reasonable

How do you calculate 50k as “5x from the low”?  That would make the low (after the last bull run) roughly $10k when it was actually more like $3k.

[d_eddie]

A lot of talk about tulips here I see. Of course what a lot of people don't know is that the Tulip story is not what they think it is. See the following paper (unfortuantly locked, scihub might have a free version).

https://link.springer.com/article/10.1007/s11127-006-9074-4

Abstract:

The famous tulipmania, which saw the reported prices of several breeds of tulip bulbs rise to above the value of a furnished luxury house in 17th century Amsterdam, was an artifact created by an implicit conversion of ordinary futures contracts into option contracts in an imperfectly successful attempt by Dutch futures buyers and public officials to bail themselves out of previously incurred speculative losses in the impressively price-efficient, fundamentally driven, market for Dutch tulip contracts. There was thus nothing maniacal about prices in this period. Despite outward appearances, the tulipmania was not a bubble because bubbles require the existence of mutually-agreed-upon prices that exceed fundamental values. The “tulipmania” was simply a period during which the prices in futures contracts had been legally, albeit temporarily, converted into options exercise prices.

Interesting read, thanks somac. Read more about 17th century Dutch tulips mania here

[d_eddie]

In the last bull market the price of bitcoin ranged between $600 and $20,000.

In terms of sentiment, I would say we are roughly where we were when bitcoin was $3,000 last time.

Or about 5x from the low.

What do you think?
https://twitter.com/jillruthcarlson/status/1362084275621793794?s=20


What do we think? Could be reasonable

How do you calculate 50k as “5x from the low”?  That would make the low (after the last bull run) roughly $10k when it was actually more like $3k.

Read El duderino_'s post with more attention 

[vapourminer]

Of course, if everyone just switched over to native segwit addresses they could save 50% on their fees. This would also have the added benefit of allowing more transactions per block too. Anyone out there who complains of fees and are still using legacy addresses deserve it.

ill keep my legacy addys for the most part. i dont care about the bigger fees (as opposed to segwit) as its generally just a small fraction of the overall amount transferred anyway. i try to plan ahead and liquidate what i think ill need in the coming timeframe plus a bit of slop just because i know im an idiot and like shiny objects.

but yeah this messes up small transactions but isnt that what L2 is for?

sorry for my olde skoole legacy fixation. just another hobby for me.

[d_eddie]

All bitcoins are welcome in my wallet and my nodes. I guess you could run a hacked node to block specific addresses, but man that would have to be picked up by a very large percentage of the network.

You can just have it do a 1 hour routine "grid-search"  on a weekly bases of just the addresses that are manually being added to the protocols to be tracking and spy-banning the child-parent addresses.  

And it just updates the new addresses that got spawned from the Devil Mother addresses that spawned them, and it will be easy to get a track of them and blacklisting-blocking specific addresses.  

Good luck hiding those 'banned' addresses from all the other miners. Or maybe I'm misunderstanding your idea?

It's a separate individual chain that spies on the other chain.             ... like some sort of IRS accounting/tracking.  

My point is that you can spy all you want, but when another miner picks up a transaction involving your "banned" address, the transaction has one chance to get on chain. Give it time, and it eventually will. Are you suggesting to fork to keep those addresses out, are you unaware of how bitcoin works, or are you just taking the piss?

[El duderino_]

A new hero has arrived

The helicopter road map is very nice as well.... using it in personal friend groups as well 

If that’s allowed ? 

[Phil_S]

Mars landing in 9 hours.

https://mars.nasa.gov/mars2020/

[d_eddie]

A new hero has arrived

The helicopter road map is very nice as well.... using it in personal friend groups as well  

If that’s allowed ?  

Not to nitpick, but this road map looks wrong. The helicopter is falling to higher btc prices? Is it a dollarcopter? If so, maybe it could be labeled as such, with a conspicuous dollar sign or something. Alternatively, the numbers could be arranged upside down, with higher numbers at the top.

And gratz for heroing, vroom!   Long due for a long time, no-nonsense WO member.

[tertius993]

In the last bull market the price of bitcoin ranged between $600 and $20,000.

In terms of sentiment, I would say we are roughly where we were when bitcoin was $3,000 last time.

Or about 5x from the low.

What do you think?
https://twitter.com/jillruthcarlson/status/1362084275621793794?s=20


What do we think? Could be reasonable

How do you calculate 50k as “5x from the low”?  That would make the low (after the last bull run) roughly $10k when it was actually more like $3k.

Read El duderino_'s post with more attention 

Still think it makes no sense ... that tweet is attempting to overlay some pseudo scientific “5x” calculation to a purely emotional assessment and then makes no effort to justify it.

But if talking purely about “sentiment” I think we’re actually well last that point - there was a massive flurry of MSM excitement a month or six weeks ago and now it seems incredibly quiet.

[d_eddie]

This reply of yours makes more sense, and you suggest "no" as an answer.
Measuring sentiment is at the very top of SOMA arts study anyway.

[samson]

They will surely missed it and they're the one who's been fooled. Who's next?

Lol, you couldn't make it up....fools indeed

[OutOfMemory]

They will surely missed it and they're the one who's been fooled. Who's next?

Lol, you couldn't make it up....fools indeed

fools are able to improve by learning, as we can see (if the tweets are chronologically ordered from left to right)  

EDIT: Bitcorn painting a dip for ants, may hit a huge buy order in the $50k's, hopefully.
A pump every day makes the shorters pay 

[vapourminer]

In the last bull market the price of bitcoin ranged between $600 and $20,000.

In terms of sentiment, I would say we are roughly where we were when bitcoin was $3,000 last time.

Or about 5x from the low.

What do you think?
https://twitter.com/jillruthcarlson/status/1362084275621793794?s=20


What do we think? Could be reasonable

I like your thinking.

i actually just put in sell orders that are over $100,000/coin. felt odd kinda - almost surreal - thats like something i didnt expect to do for long time yet (least year or maybe two i figured soonest).

[dieselmeister]

https://cointelegraph.com/news/insane-bitcoin-price-consolidation-means-48k-is-the-new-btc-support-level

'Insane' Bitcoin price consolidation means $48K is the new BTC support level

[friends1980]

New poll suggestion: how many days hours before we see a new ATH?