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

[cAPSLOCK]

Observing a nice little rise $56400

Still for ants, but it should grow.

BTW, the Delta Investment Portfolio Tracker app (on Android) is working great. Notifications come nicely. Only bad thing is, so far they've been notifying me of BTC price drops... Hopefully. my phone will soon start bleeping constantly due to the expected UPpity!

LOL.  You know... there will always be ants.  It's just that eventually even the ants are going to look like something out of a Japanese Mothra film.

Eventually we will see 100k daily candles.

Or Bitcoin has failed.

[Icygreen]

Common ECB, get with it, no intrinsic value is a feature not a handicap you fools. Besides, the tulip spiel is ridiculously tired, try again.  

@FrankElderson
: Tulips are beautiful flowers. For those who remember 17th century Tulip Mania, they also serve as a reminder of what can happen when prices don’t reflect intrinsic value #AskECB

https://twitter.com/ecb/status/1371856153370574854?s=20

I’m disinclined to load twit javascript to see this thread, so someone please tell me:  Are they talking about their own shitcoin?

If prices must reflect intrinsic value, then a loaf of bread must be priced at €∞.

And a tulip bulb must also be worth €∞.

And a bitcoin must be worth €∞/0.  See my signature.

He was asked about a vase of tulips on his desk, "Which is worth more, the tulips or BTC?"

I know right?  Was certain he was referring to the euro at first.  

[serveria.com]

Looked? I'm sure he must be blind too.

Hairy palms goddamit... 

[fillippone]

1 BTC = 1 BTC

or is it

1 BTC == 1 BTC

?

technically the first statement is not a boolean.

but the second statement is TRUE .  

..but if you compare strings you have to use quotes

"1 BTC" == "1 BTC"

Put this way,

"1 BTC" = "1 BTC"

would just raise an error, right?

Well I guess a variable of "1 BTC" could recursively store itself and then lead to an "OutOfMemory" situation.

Can't we just introduce something like "in 2015 Bitcoin" as deflation adjustment, just like dollars have a inflation adjusted way of saying "in 1980 dollars"?

So:
$1 in 1980 is equivalent in purchasing power to about $3.19 today becomes: 1BTC on January 1st 2012 is equivalent in purchasing power to about 0.00008976BTC now.

According to my simple calculations, I get to some different results:

While 1 Dollar in Jan 2012 has the same purchasing Power than 1.13 Dollars in Feb2021,1 Bitcoin in Jan2012 has the same purchasing power than 0.000124927228676061 Bitcoin in Feb2021.


Please check me!

[Elwar]

The tulip mania inflated in what fiat currency?

How many people are using that currency today?

How many people are buying tulips today?

[vapourminer]

Looked? I'm sure he must be blind too.

Hairy palms goddamit... 

palm hair long enough to braid probably

[smartcomet]

3/ How low can it get? In 2017, the fastest doubling pace - 12 days - happened on December 7th, nine days before the 3yr peak:
4/ In 2013, it got down to *4 days*, one week before that cycle's peak:
5/ What about this cycle? So far in the 2020/21 bull market, the fastest pace - 22 days - was reached at the Jan 7th ~$42k local peak.

[DaRude]

The tulip mania inflated in what fiat currency?

How many people are using that currency today?

How many people are buying tulips today?

Hmm, would be interesting to see the prices for tulips at the peak in current currency adjusted for inflation. Betting it'd be something like a fraction of a cent per tulip, you'd be better off buying a tulip at a peak vs holding fiat for all these years. Can someone maths this?

[BitcoinBunny]

I've never understood the intrinsic value argument against Bitcoin.

People will pay whatever they want to pay for something that is scarce and desirable such as BTC.
Whether it's a painting some Italian dude made centuries ago or a painting done by some modern day clown who supplies it with an automated shredder that only half worked.

Can you "picture" the Mona Lisa go back to zero bucks, ever? Maybe if you burn it it might lose some value. Even then the ashes would still be worth millions I reckon.

Let's take my favourite subject outside of BTC for example; whores.
I can pay a local whore in my country about $150 for an hour whilst the value given could be far better and memorable than a session from the number one popular whore in the world which will cost about 10 times as much.
10 sessions with a local top notch whore seems better value to me personally but for others they will want the number one popular whore in the world.

The intrinsic value argument is just a pile of pish if you ask me.

[Richy_T]

Common ECB, get with it, no intrinsic value is a feature not a handicap you fools. Besides, the tulip spiel is ridiculously tired, try again. 

@FrankElderson
: Tulips are beautiful flowers. For those who remember 17th century Tulip Mania, they also serve as a reminder of what can happen when prices don’t reflect intrinsic value #AskECB

https://twitter.com/ecb/status/1371856153370574854?s=20

There's no such thing as intrinsic value anyway. All value is subjective.

[nullius]

The tulip mania inflated in what fiat currency?

None.  Fiat currency in the modern sense (debt-backed shitcoins) had not yet been invented.

The relevant currency was Dutch guilders (gulden, symbol ƒ in reference to the old florin).  But buyers oftentimes bartered huge amounts of other goods for tulip bulbs, with the trades denominated in ƒ as a unit of account.  Imagine the equivalent of a truckload of everything from fine food to clothing to silverware (in the pre-industrial era!) being traded for one tulip bulb.

How many people are using that currency today?

None.  The Netherlands switched to the Euro in 2002—and the “guilder” that it switched from was not the guilder of the tulip mania time, just as the dollar today is an awful lot different than the currencies of the past.

How many people are buying tulips today?

Many.  But not in exchange for truckloads of goods.

Hmm, would be interesting to see the prices for tulips at the peak in current currency adjusted for inflation. Betting it'd be something like a fraction of a cent per tulip, you'd be better off buying a tulip at a peak vs holding fiat for all these years. Can someone maths this?

Contrary to both of your assumptions, the mainstream economic system has not always been this bad.  If it had been, then long ago, civilization would have collapsed; and humans probably would have gone extinct from self-inflicted mass-catastrophe (war, famine, failure to reproduce at replacement level...).

[Richy_T]

Looked? I'm sure he must be blind too.

[strawbs]

I have the WO saved as a bookmark, but one which always takes me back to page 673 (and I leave it that way just for old times sake). But today I noticed that the post which is normally at the top of that page has gone and can now be found much earlier, suggesting that someone has been deleting some pre−June 2013 posts.

Wondering why. Perhaps for OpSec? Perhaps there was another deletion event à la Boblaw? Perhaps it's not even noteworthy.

[BitcoinBunny]

I have the WO saved as a bookmark, but one which always takes me back to page 673 (and I leave it that way just for old times sake). But today I noticed that the post which is normally at the top of that page has gone and can now be found much earlier, suggesting that someone has been deleting some pre−June 2013 posts.

Wondering why. Perhaps for OpSec? Perhaps there was another deletion event à la Boblaw? Perhaps it's not even noteworthy.

From what I can see you can delete your own old posts from years ago just fine which would explain it.

[nullius]

There's no such thing as intrinsic value anyway. All value is subjective.

I've never understood the intrinsic value argument against Bitcoin.

You can’t eat a bitcoin.  Etc.

But all of the same applies to the Euro.

Furthermore, Bitcoin does have an intrinsic value:  The ability to transact securely, permissionlessly, almost frictionlessly, moving money around the world with the click of a button.  It is an intangible value, but it is a value that is intrinsic to the nature of Bitcoin itself.  That drives its value as social money.  € and $ don’t have this value.

Let's take my favourite subject outside of BTC for example; whores.
I can pay a local whore in my country about $150 for an hour

If you hired that whore for an hour in 2011 (say, $5/BTC), and she held (or used your dollars to buy bitcoins, then held), then her bodily investment in that hour would now be worth about $1.7 million.

Who the fuck is she, to make so much money in an hour (plus ten years of holding)?  Phryne?

* nullius would pay good BTC for some time with Phryne.

[strawbs]

The intrinsic value argument is just a pile of pish if you ask me.

You must have some tartan roots BitcoinBunny to be using that phrase? 

[JayJuanGee]

Hmmmm consolidation for more than 2 weeks,  break up 52.5K$ 55K$ 58.5$ and went above 60K$ and 50K€ to go back like this... Strange move.

I doubt that it is very accurate to refer to recent BTC price movement, including in the past two weeks as a kind of consolidation.

You seem to be getting your term wrong or something.

2 or 3 days ago.. we had a movement of BTC's all time high from $58.3k-ish to $61,782 (6% increase of the ATH), and then we had some backing off of the ATH to sink as low as $53,221 (which would be about in the ballpark of a 15% correction) - about one day ago (at the time of this post) and now in the past day we have movement back up and we are about in the $55555 to $56k territory.. but still hardly consolidation when the BTC price is bouncing at the top of the price range.. so sure, the situation could convert into consolidation.. but gosh that usually does not happen at the top of the range, we would likely need a correction that goes in the 15% to 25% or possibly even greater and then maybe bounce back and perhaps we might get some consolidation at that point.

Anyhow it seems to me that zooming out should be in order instead of trying to assert current consolidation and even worse consolidation for two weeks when in the past couple of days we had around a 6% increase in the ATH from its previous ATH...

Do we have too many folks looking at 1 minute, 3 minute and 5 minute candles around these here parts.. and gosh bare minimum of 12 hour candles no?   maybe better to use daily, 3 days or weekly candles to get a better grasp of the situation, no?

As a mostly layman when it comes to maths (and sciences) funzies, could it be that one of the goals of continuing to attempt to calculate pi to further digits is to see if there might be a zero in there somewhere (I mean a last digit)? - and then we know how many actual digits pi has, rather than what seems to be an infinite number of digits without a last digit.  

We already know the answer to this: Pi has an infinite number of digits (i.e., there is no "last digit"). This is because Pi is an irrational number (it cannot be expressed as the ratio of two integers). Proof of this dates back to the 18th century (Lambert, 1761). The square root of 2 (1.414...) is another well-known irrational number.

We all (except Jay) know that π is an irrational sonofabitch; but is he normal?  

* Wrathful nullius is the negative one, because ’e is powered to imaginary·π.

Yes, I just implied that 0 = -1.  Well, that’s not as bad as looking for the last digit of π.

I presume you're referring to Pi and not Jay.

Now, that's a challenge. I would bet that Pi is normal, but that statement is worthless...

Funny thing is that I was confused by the same thing when I read that nullius sentence, but I did not want to say anything to cause my lil selfie to appear MOAR dummer than I actually am, and that's why from time to time I present "deeper ideas" in "baby talk."

 

[BitcoinBunny]

If you hired that whore for an hour in 2011 (say, $5/BTC), and she held (or used your dollars to buy bitcoins, then held), then her bodily investment in that hour would now be worth about $1.7 million.

Who the fuck is she, to make so much money in an hour (plus ten years of holding)?  Phryne?

20 years ago that may have been The Corrs sisters, maybe.

https://www.youtube.com/watch?v=iVqrtTJgJJI

[jojo69]

How many people are buying tulips today?

https://tulipfestival.org/

[nanobtc]

<snippage>

Just a flesh wound! My first thought was of those Japanese holdout soldier still fighting years after the war has ended https://en.wikipedia.org/wiki/Teruo_Nakamura

Gilligan's Island (USA sitcom in the 70's) had an episode where they found a Japanese solder on their island, that was still fighting WWII.