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

[serveria.com]

Today is the mindrust day. One year ago, on that evil day, mindrust panic sold all his 10BTC stash for $4000 - the average price he has bought his stash. He had twice that sum in fiat, but instead of buying at these incredibly cheap prices, he decided to buy USD, monero and other shitcoins. His ghost reportedly appears still on bitcointalk topics arguing that his decision was right. To him and others fallen comrades by the poison of Peter Schiff's kinda FUD, a minute of silence.

Happy mindrust day brethren! Hodl strong! 

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[rolling]

And we (TINW) need to stop thinking in terms of dollars.  We (editorial “we”) know that 1 BTC = 1 BTC; but what is a dollar worth?  A dollar must be valued in sats.  We (royal “we”) therefore decree by fiat that henceforth, we shall quote sats/USD as we observe dollar sell walls.

Bitcoins value should be measured in Gold instead.

1 BTC ~ 942.322 gm
1 BTC ~ 33.239 oz

“One of the most obvious similarities between gold and Bitcoin is the cap on the quantity available. Whereas fiat money can be printed into infinity, both gold and Bitcoin have specific restrictions on the amount that can be introduced into the economy. For Bitcoin, there is a 21 million bitcoin limit, As for gold, the yearly new supply is limited to around 2,500 tons.”

https://www.buybitcoinworldwide.com/bitcoin-price-in-gold/

You mean gold should be priced in BTC, the lesser does not dictate the greater.

[rolling]

Today is the mindrust day. One year ago, on that evil day, mindrust panic sold all his 10BTC stash for $4000 - the average price he has bought his stash. He had twice that sum in fiat, but instead of buying at these incredibly cheap prices, he decided to buy USD, monero and other shitcoins. His ghost reportedly appears still on bitcointalk topics arguing that his decision was right. To him and others fallen comrades by the poison of Peter Schiff's kinda FUD, a minute of silence.

Happy mindrust day brethren! Hodl strong! 

I disagree with this way of thinking. All of us have to make our own financial decisions. Sure, his move was stupid but leave the poor guy alone. Everyone has the right to move on.

[BitcoinBunny]

Today is the mindrust day. One year ago, on that evil day, mindrust panic sold all his 10BTC stash for $4000 - the average price he has bought his stash. He had twice that sum in fiat, but instead of buying at these incredibly cheap prices, he decided to buy USD, monero and other shitcoins. His ghost reportedly appears still on bitcointalk topics arguing that his decision was right. To him and others fallen comrades by the poison of Peter Schiff's kinda FUD, a minute of silence.

Happy mindrust day brethren! Hodl strong!  

I disagree with this way of thinking. All of us have to make our own financial decisions. Sure, his move was stupid but leave the poor guy alone. Everyone has the right to move on.

Agreed.
I did work for a company that sells gold 10 years ago before 99% of the population would have heard about Bitcoin. The arguments about the dollar going to zero were made then so to HODL gold sounded convincing by the company owners. Many bought into that and bought at the top in 2011. I didn't. Doesn't mean I should piss on the people that did and clearly hardly made any money. Some probably lost quite a bit with panic selling over the last 10 years at various stages. Furthermore selling an asset for the same amount in dollars as you bought over ten years is obviously also a loss.

[AlcoHoDL]

Regarding mindrust and the comments WOers occasionally make about him (including haikus & other poems, and bat-slappings too), I don't think they are meant as insulting or derogatory. Personally, I don't have anything against him. I've even merited him, and he has merited me here in WO. I think most of the references to him and his "mindrust action", are merely to warn others who may be inclined to do the same. They serve as a warning and a lesson to all of us to keep our cool and not flinch at times of big corrections. Because big corrections can happen, and will happen. If anything, mindrust is, perhaps without even knowing it, actively helping and protecting others from making the same mistake.

If he ever came back here in WO, I'd greet him warmly, and welcome his comments on his "mindrust action" and his current thinking about Bitcoin and the way forward. It would make an interesting discussion. Nothing at all against him on my side.

[JayJuanGee]

OW COME ON!!! Edging $58k is killing me  

I am thinking that we might be stuck (aka stalled) - ever heard of that concept?

It has alot to do with health, most people living in pain for long enough are more than ready to die.

Chronic pain is surely a big issue but health is not necessarily directly correlated with that. I think my larger point stands.

You are speaking like a person who has never experienced a certain level of chronic illness, poverty and ongoing suffering and struggles and ongoing deterioration over years and years and years - loss of energy might also be a kind of pain.. .. consider foggy thinking that comes with some of the conditions of screwed up systems, as well.  It's not like everything is working, you are banging 10s and you just have pain.. . .you might not even be able to bang a 5 (meaning 5 fingers)..

and that could be the easy stuff.. in terms of the basics, eating, eliminating, sleeping, exercise (is that even possible?).. coordinating how to eat.. and what kinds of foods can be eaten?  steaks ?  More likely chips and cravings for icecream (and not even the good quality icecream), which is not going to help energy levels to actually eat those substances that are imitating their lil selfies as if they were actually food.....

Might not even be able to hang out on the forum - thinking too foggy, can't concentrate... and trying to figure out logistics related to "the basics".. oh and did I mention needing to clean up the living space or self (that's not really necessary, is it?) and how to pay for these things, no one really wants to help.. and surely getting a payment from someone might not even be doable because mostly there are just collectors, including the landlord who does not seem to want you either.. and how to get the food-like substances from where ever the closest mart might be to the place that you happen to be living, until the sheriff knocks.

[ivomm]

Regarding mindrust and the comments WOers occasionally make about him (including haikus & other poems, and bat-slappings too), I don't think they are meant as insulting or derogatory. Personally, I don't have anything against him. I've even merited him, and he has merited me here in WO. I think most of the references to him and his "mindrust action", are merely to warn others who may be inclined to do the same. They serve as a warning and a lesson to all of us to keep out cool and not flinch at times of big corrections. Because big corrections can happen, and will happen. If anything, mindrust is, perhaps without even knowing it, actively helping and protecting others from making the same mistake.

If he ever came back here in WO, I'd greet him warmly, and welcome his comments on his "mindrust action" and his current thinking about Bitcoin and the way forward. It would make an interesting discussion. Nothing at all against him on my side.

I totally agree! I had written a ton of posts arguing with mindrust with the only goal to help him avoid this terrible mistake. He didn't want to sacrifice 10% of his stash to rebuy it back, and now he regrets missing a 15x profit, which will soon be 30x, etc. This is not a joke, this is serious - like the death of a close friend, knowing that one of WO's legends chose the life of misery and slavery to the fiat system, instead of the full freedom that Bitcoin could have given him in just 12 months after that horrible day. Now, this day will be remembered as Mindurst Day and will remind everyone to be even stronger in bad days, as AlcoHoDL noted!

[joburgtaxi]

fees were always like crazy if a lot of people withdraw or buy I start to think it’s impossible to escape from them

[brokedummy]

Drill, Baby, Drill. save my short calls

[Dabs]

Not to mention 2FA yubikey support, as well as PGP support for the emails.
Kraken is the only exchange I know for PGP. Gemini and Binance also have yubikey support, but the later restricts the browser.

Good to know.  No sane person wants for his e-mail provider to have access to sensitive financial information!

I know that some exchanges send such e-mails as, “You just withdrew 100 BTC to bc1qoooooooooooooooooooooooooooooooo9e75rs.”  That is not information that I would want a mailserver admin to be able to see.

Beware of such information leaks, lest you find yourself someday added to this list:

https://github.com/jlopp/physical-bitcoin-attacks

Quadriga had PGP emails. But it died.

For all other emails, I delete them immediately and hopefully the servers don't keep them too long.

[JayJuanGee]

Just finished watching a shitty movie. Was so bad I just had to finish it to see "how low can it go?" Was made in Oz and called "I, Portrait". Save yourselves 1h 19m and skip this trash.

Modern peeps do not absorb media at 1x anymore.

Snap out of it, AlcoHoDL!!!!!

Modernize ur lil selfie.

You will thank me later.   

Back to observing corn, and I see we've had a Euro-ATH again (48,250.8 €, Kraken).

 Never heard of the Euro... especially in the BTC/USD thread.. is that a kind of shitcoin?  or is it a kind of "crypto" that peeps tend to want to talk about in these here parts?

$60k by end of Friday? Possible.
$60k by end of weekend? Probable.
$60k by end of March. A certainty!

Now you are talking.. language I can understand, including covering a variety of scenarios to increase your odds of being Koreck.

 

I like the smell of rain forest trees burning...

 Not a bad idea to get a few little digs in there...

Onwards & upwards!

 You mean we are not stalled?

HoDL.

Seems to ONLY be part of the formula.... though an important part, admittedly. 

fees were always like crazy if a lot of people withdraw or buy I start to think it’s impossible to escape from them

I am going to presume that you are referring to onchain bitcoin transactions, and of course, the bitcoin fee market does continue to be a system that is in flux in terms of trying to figure out a balance that has some market components too, and sure if there might develop some easier ways to use some of the second layer solutions, I am sure that there are some desires to create incentives to develop and use those second layer solutions as well.

By the way, I did a quick glance at some default fees and at the time of this post, they are around 50 sats per byte for regular (maybe around $6 for a transaction without very many inputs) and 70 sats per byte for priority (maybe around $12), and of course if you are dealing with a stranger you may well want to use priority, but if you are dealing with yourself, you could cut regular in half.. which would be around $3.. so surely those are not outrageous for transactions of a few hundred dollars, but surely could be cost prohibitive for smaller transactions... and large transactions over $1k might feel that they are getting a deal, so yes, higher fees do seem to incentivize larger transactions on the main chain... and we could anticipate that the transaction costs are likely to continue to go up on the main chain, especially during more busy times, including when there may well be a lot of excitement about price that might be causing some additional on-chain transactions.

[ivomm]

MicroStrategy has purchased an additional ~262 bitcoins for ~$15.0 million in cash at an average price of ~$57,146 per #bitcoin
As of 3/12/2021, we #hodl ~91,326 bitcoins acquired for ~$2.211 billion at an average price of ~$24,214 per bitcoin. $MSTR
https://twitter.com/michael_saylor/status/1370360546986430467


Bloomberg Markets @markets

Grayscale Investments, the firm behind the biggest Bitcoin trust, has posted at least nine ETF-related positions to LinkedIn, a signal that it's betting on U.S. approval for crypto ETFs
Firm Behind Biggest Bitcoin Trust Is Hiring Entire ETF Team
Grayscale Investments is making a bet that the approval of a U.S. cryptocurrency ETF is not too far off in the future.

https://twitter.com/markets/status/1370104726877003778

[redhack]

Drill, Baby, Drill. save my short calls

What's your short target? I see 55k is a good support but is it strong enough? Do you expect lower?

[xhomerx10]

what is the name of this dog?  I thought it would be cuter if his/her eyes had laser

#laserrayuntil100k

 Don't have access to my entire bag o' tricks at work or I would have changed that cough filter to a 100k filter.

[Sayeds56]

Drill, Baby, Drill. save my short calls

What's your short target? I see 55k is a good support but is it strong enough? Do you expect lower?

52K will be good buying opportunity.



https://www.tradingview.com/chart/BTCUSD/ojmRT0hV-BITCOIN-forming-Cup-Handle-pattern/

[ivomm]

Drill, Baby, Drill. save my short calls

What's your short target? I see 55k is a good support but is it strong enough? Do you expect lower?

Big picture people, big picture!

[julian071]

Drill, Baby, Drill. save my short calls

That looks to be ageing badly... Hope you got out in time!

[brokedummy]

Drill, Baby, Drill. save my short calls

What's your short target? I see 55k is a good support but is it strong enough? Do you expect lower?

Big picture people, big picture!

I need to raise funds for a down payment. If it ends today much higher I'll probably end up selling for less than I could have gotten just waiting to market sell today. If it ends lower than 54k I'll collect all the premium without selling anything. If it stays under 56k and over 54k I'll sell some for a good price and have some contracts expire worthless. I guess I can sell puts next week because it looks like its going to stay above 56k.

[Richy_T]

You are speaking like a person who has never experienced a certain level of chronic illness, poverty and ongoing suffering and struggles and ongoing deterioration over years and years and years - loss of energy might also be a kind of pain.. .. consider foggy thinking that comes with some of the conditions of screwed up systems, as well.  It's not like everything is working, you are banging 10s and you just have pain.. . .you might not even be able to bang a 5 (meaning 5 fingers)..

Indeed I am. Because what I am saying is from the position, it is easy to say "I wouldn't want to live if I was like that" but the facts bear out that many *do* want to keep living. This was in the context of people who had immortality available to them and whether they would get bored with it. People seem to be wanting to take what I said beyond what I said. I would suggest not to do that because while that is an interesting conversation in itself, it is beyond my point and I'm not interested in having it right now.

[LFC_Bitcoin]

Drill, Baby, Drill. save my short calls

Shorting in a BTC bull market like.....