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

[AlcoHoDL]

Yesterday, a neighbour asked me if I know anything about "cryptocurrencies". A couple of years ago I would jump at the opportunity to explain to him all about it, teach him how to set up a wallet, open a Kraken account, etc. Now, I just replied "I've been reading about it, seems to be a thing. Don't know much more than that though, sorry..."

Can't be bothered anymore. It's the same old story, the more others know about you and what you can do, the more work and trouble will fall on you, because, in the end, it comes down to human nature. Everyone's looking for a free lunch, a pill the can swallow and suddenly solve their lives' problems. Well, I say "fuck you, get on your bike and work for it."

Wow I thought I’m alone in this... trust me I used to sit down with pen and paper to explain this to my seniors and peers. And most of the time it would end like “oh that’s a big bubble”...or “I didn’t get it, prove to me how Bitcoin is worth $6,000”.... “there are only 21 million bitcoins, that’s not how money works”.... and most of the time usually will stop here when they will hear “yes uncle, you need internet all the time”.

I just keep everything to myself or put it here on WO

Yup, I've definitely stopped tying to explain btc to anyone these days. It's not as if there isn't enough info on the interweb now for anbody with sufficient motivation to go and find out for themselves.

I introduced several friends to bitcoin in 2013. One invested almost immediately and hodled for a few years, cashing out most of their stash near the 2017 top. They made a tidy sum but their stash is now very small and they've largely missed out on this run.  Another friend left it far too late to buy in, and did so near the 2017 top and also bought a load of shitcoins because they "couldn't afford bitcoin".   They then panic sold everything during the following bear market and made a huge loss. The other day I was disheartened to hear that the same person is now buying shitcoins again. They did at least admit that they should have listened to me properly in 2013.

So I feel like I was half successful with the first friend and completely unsuccessful with the second friend, even though the info I explained to them was identical. So my conclusion was that some people are just not ready for this and I can spend my time in better ways.

As the old saying goes, "you can lead a horse to water but you can't make it drink."

Unfortunately, some people who know I have bitcoin seem not to care for my opsec and will happily discuss the fact that I hold btc with anyone they feel like. Which is annoying, since I don't go around talking about anyone else's finances. So I am wondering how to address this issue. It didn't seem to matter many years ago that I had told a few of my friends about my btc holdings but now, at these prices, it's something I wish I hadn't done.

Anyone else in the same boat?

Same thing has happened to me. A long time ago I made the mistake of telling a few people close to me that I own some BTC. At that time 1 BTC = $200-$500, so it was no big deal. Not anymore. The problem is that these people can potentially disclose that information to others, and this raises serious OPSEC/$5-wrench issues. Of course the mistake was all mine, but frankly, at the time, I never expected that Bitcoin will rise so much. Fortunately, the people in my circle that know about my stash are very few and generally trustworthy, and I've warned them not to tell anyone, so I guess the situation is somewhat under control.

What you could do is use the "boating accident" technique. Just say that you gambled it in shitcoins and lost 90% of it. Or that you lost your seed and cannot access your coins, and bitch about how bad Bitcoin is for not having a backdoor in case you lose your keys. Pretend to be really sad/depressed/angry/bitter for a couple of months, then say you've accepted your loss and moved on.

As they say, wealth is not easy to hide... It's tough being rich, and I can now feel it more and more, as those ants work hard, paving the way to $1M/corn... Maybe hire some bodyguards as the song says... LULZ!

https://youtu.be/DmeUuoxyt_E

[1714732154]

1714732154

[1714732154]

1714732154

[1714732154]

1714732154

[1714732154]

1714732154

[1714732154]

1714732154

[1714732154]

1714732154

[vapourminer]

Yup, I've definitely stopped tying to explain btc to anyone these days. It's not as if there isn't enough info on the interweb now for anbody with sufficient motivation to go and find out for themselves.

I introduced several friends to bitcoin in 2013.

[...]

Unfortunately, some people who know I have bitcoin seem not to care for my opsec and will happily discuss the fact that I hold btc with anyone they feel like. Which is annoying, since I don't go around talking about anyone else's finances. So I am wondering how to address this issue. It didn't seem to matter many years ago that I had told a few of my friends about my btc holdings but now, at these prices, it's something I wish I hadn't done.

Anyone else in the same boat?

Same thing has happened to me. A long time ago I made the mistake of telling a few people close to me that I own some BTC. At that time 1 BTC = $200-$500, so it was no big deal. Not anymore. The problem is that these people can potentially disclose that information to others, and this raises serious OPSEC/$5-wrench issues. Of course the mistake was all mine, but frankly, at the time, I never expected that Bitcoin will rise so much. Fortunately, the people in my circle that know about my stash are very few and generally trustworthy, and I've warned them not to tell anyone, so I guess the situation is somewhat under control.

when i worked back around 2011 on i told people at work about bitcoin. there were some smart people most with multiple degrees in their fields. also told the tech support guys whom i really thought would understand it. but everyone of them except one pretty much politely blew it off. that one person? i gave her a paper wallet with like 5 bucks or something and some homework to do.

of course everyone at that workplace also knew of my fondness for projectile weapons and other various ways of, um, slowing down undesirables.

for all they now know ive since blown/lost them all, so not really worried, although i too if i had known would of been more careful. but then again maybe not. bitcoin was too important not to spread the word.

[AlcoHoDL]

when i worked back around 2011 on i told people at work about bitcoin. there were some smart people most with multiple degrees in their fields. also told the tech support guys whom i really thought would understand it. but everyone of them except one pretty much politely blew it off. that one person? one of the billers (the youngest one), who instantly knew there was something interesting there. i gave her a paper wallet with like 5 bucks or something.

[...]

2011... $5 worth of corn... Where is that goddess now? I'd like to sit next to her in her throne!

[YourMother]

This is our time

Our time to watch the institutional investors stampeding over each other for the last BTC spread across hundreds of exchanges. Microstrategy and Tesla have started this snowball where every fund or corporation is now shaking in their boots, thinking: What if our competitors are buying BTC ? They will start with a conservative 10% treasury allocation and once they'll fully understand blockchain, they will start fomo-ing in larger percentages.

This is what we've been expecting since the early 2010's. We fucking did it!

[vapourminer]

when i worked back around 2011 on i told people at work about bitcoin. there were some smart people most with multiple degrees in their fields. also told the tech support guys whom i really thought would understand it. but everyone of them except one pretty much politely blew it off. that one person? one of the billers (the youngest one), who instantly knew there was something interesting there. i gave her a paper wallet with like 5 bucks or something.

[...]

2011... $5 worth of corn... Where is that goddess now? I'd like to sit next to her in her throne!

i gave her some homework (how to find and check the official hashes of downloaded files, check pgp sigs and such) along with the wallet and she was a pretty smart cookie, so hopefully not working there (or anywhere else) any more, and just enjoying the ride.

[philipma1957]

This is our time

Our time to watch the institutional investors stampeding over each other for the last BTC spread across hundreds of exchanges. Microstrategy and Tesla have started this snowball where every fund or corporation is now shaking in their boots, thinking: What if our competitors are buying BTC ? They will start with a conservative 10% treasury allocation and once they'll fully understand blockchain, they will start fomo-ing in larger percentages.

This is what we've been expecting since the early 2010's. We fucking did it!

no not yet but close.

once we crest over 100k and simply stay there with sideways and slowing upwards trends we will be there.

The 2001 to 2008 DowJones was all bull a 7 year run.  I have zero idea how long this bull run will be but maybe just maybe we can see a real long run here 2+ years so sideways and slowly upwards would mean a maturing of the market.

I can still see 7-11 trillion as the longterm goal as BTC becomes the new gold.

And space mined gold is simply a far more common useful metal.

[Arriemoller]

when i worked back around 2011 on i told people at work about bitcoin. there were some smart people most with multiple degrees in their fields. also told the tech support guys whom i really thought would understand it. but everyone of them except one pretty much politely blew it off. that one person? one of the billers (the youngest one), who instantly knew there was something interesting there. i gave her a paper wallet with like 5 bucks or something.

[...]

2011... $5 worth of corn... Where is that goddess now? I'd like to sit next to her in her throne!

hopefully not working there (or anywhere else) any more, and just enjoying the ride.

So, price going up again yo!
Let's hope for 60k

[BitcoinGirl.Club]

My goodness, apparently wo bros are very enamored with bunny storyboards.
I'd better work on making my childhood fart stories into one...

Good damn! you and BitcoinBunny 😛

BitcoinBunny's imagination is high LOL

[vapourminer]

This is our time

no not yet but close.

once we crest over 100k and simply stay there with sideways and slowing upwards trends we will be there.

ok, so tomorrow sometime?

[YourMother]

This is our time

Our time to watch the institutional investors stampeding over each other for the last BTC spread across hundreds of exchanges. Microstrategy and Tesla have started this snowball where every fund or corporation is now shaking in their boots, thinking: What if our competitors are buying BTC ? They will start with a conservative 10% treasury allocation and once they'll fully understand blockchain, they will start fomo-ing in larger percentages.

This is what we've been expecting since the early 2010's. We fucking did it!

no not yet but close.

once we crest over 100k and simply stay there with sideways and slowing upwards trends we will be there.

The 2001 to 2008 DowJones was all bull a 7 year run.  I have zero idea how long this bull run will be but maybe just maybe we can see a real long run here 2+ years so sideways and slowly upwards would mean a maturing of the market.

I can still see 7-11 trillion as the longterm goal as BTC becomes the new gold.

And space mined gold is simply a far more common useful metal.

"no not yet but close.

once we crest over 100k and simply stay there"

You make little sense. I'm talking about fundamentals and the institutional stampede that is happening right now and you're countering me with some magical number that "you" think will bring maturity to the market. Huh ? The market cap relative to other markets and commodities is what counts, not some rounded price that you think it's sounding good

[Philipma1957cellphone]

This is our time

no not yet but close.

once we crest over 100k and simply stay there with sideways and slowing upwards trends we will be there.

ok, so tomorrow sometime?

 okay I will put in a request to honey badger.

[Arriemoller]

Nah going down a bit again.

I hope it will cross 60k  this weekend, just like last, I need to sell a small amount to buy crap that I really want.

[Philipma1957cellphone]

This is our time

Our time to watch the institutional investors stampeding over each other for the last BTC spread across hundreds of exchanges. Microstrategy and Tesla have started this snowball where every fund or corporation is now shaking in their boots, thinking: What if our competitors are buying BTC ? They will start with a conservative 10% treasury allocation and once they'll fully understand blockchain, they will start fomo-ing in larger percentages.

This is what we've been expecting since the early 2010's. We fucking did it!

no not yet but close.

once we crest over 100k and simply stay there with sideways and slowing upwards trends we will be there.

The 2001 to 2008 DowJones was all bull a 7 year run.  I have zero idea how long this bull run will be but maybe just maybe we can see a real long run here 2+ years so sideways and slowly upwards would mean a maturing of the market.

I can still see 7-11 trillion as the longterm goal as BTC becomes the new gold.

And space mined gold is simply a far more common useful metal.

"no not yet but close.

once we crest over 100k and simply stay there"

You make little sense. I'm talking about fundamentals and the institutional stampede that is happening right now and you're countering me with some magical number that "you" think will bring maturity to the market. Huh ? 

 the problem is the fundamentals you are using are worthless. There are no magical numbers to be found with your charts and fundamentals.

Case in point show me any stock that has done the rise in value that bitcoin has done since 2009 to 2021.  The answer is no such comparable exists.  Thus all fundamentals you are using are wrongly applied.

Since no stock has behaved in the pattern of btc.

But I realize that much like a horse and buggy owner apply your fundamentals if they make you feel safe from the horseless carriages.

WE ARE ENTERING A NEW AGE.  We simply are not quite there yet.

I DO SEE why me picking a flat number like 100k can upset you.

So the new floor we be 100 k the bull run has more then 6 to 9 months left. We will peak near 160k and slowly retreat back close to 100k. At this point there will be a lone sideways action. IT will end when Musk and NASA Tell us about gold mining.
Asteroid gold mining will alter gold to a different status. As it will allow for 100 year or more batteries. Solar will take over bigly as the battery replacement issue for true off grid will be gone. Btc mining will be the primary force behind cheaper energy.

The industry will mature and flat line. The next plateau is the 100-160 range. The eventual plateau is 750k in today's dollars. That is about 20 years to 30 years from now.

Do yourself a favor and do not try using fundamentals to predict btc price levels.

And do not knock magical thinking when it comes to BTC

[cygan]

https://twitter.com/1Dq12/status/1373203100325007362  

[Torque]

We barely entered the fun zone... real fun begins when market cap of gold will be smashed.

It sunk in that Apple made 1/86th of the world's money by selling overpriced crap.
We're a very special species, aren't we?  

It also should sink in that Microsoft essentially makes all it's money putting a new version # on a piece of software that it perfected 2 decades ago, and all the world's corporations and users are forced to upgrade to it no matter what. You "pay" to continue using the same shit you already paid for many times over.

Yep, very special species indeed.

[d_eddie]

Unfortunately, some people who know I have bitcoin seem not to care for my opsec and will happily discuss the fact that I hold btc with anyone they feel like.

Anyone else in the same boat?

You mean the boat that capsized, throwing all your coins at the bottom of the deep sea?

[Globb0]

Why dont helicopters drop cash in my garden?

[YourMother]

This is our time

Our time to watch the institutional investors stampeding over each other for the last BTC spread across hundreds of exchanges. Microstrategy and Tesla have started this snowball where every fund or corporation is now shaking in their boots, thinking: What if our competitors are buying BTC ? They will start with a conservative 10% treasury allocation and once they'll fully understand blockchain, they will start fomo-ing in larger percentages.

This is what we've been expecting since the early 2010's. We fucking did it!

no not yet but close.

once we crest over 100k and simply stay there with sideways and slowing upwards trends we will be there.

The 2001 to 2008 DowJones was all bull a 7 year run.  I have zero idea how long this bull run will be but maybe just maybe we can see a real long run here 2+ years so sideways and slowly upwards would mean a maturing of the market.

I can still see 7-11 trillion as the longterm goal as BTC becomes the new gold.

And space mined gold is simply a far more common useful metal.

"no not yet but close.

once we crest over 100k and simply stay there"

You make little sense. I'm talking about fundamentals and the institutional stampede that is happening right now and you're countering me with some magical number that "you" think will bring maturity to the market. Huh ?  

 the problem is the fundamentals you are using are worthless. There are no magical numbers to be found with your charts and fundamentals.

Case in point show me any stock that has done the rise in value that bitcoin has done since 2009 to 2021.  The answer is no such comparable exists.  Thus all fundamentals you are using are wrongly applied.

Since no stock has behaved in the pattern of btc.

But I realize that much like a horse and buggy owner apply your fundamentals if they make you feel safe from the horseless carriages.

WE ARE ENTERING A NEW AGE.  We simply are not quite there yet.

I DO SEE why me picking a flat number like 100k can upset you.

So the new floor we be 100 k the bull run has more then 6 to 9 months left. We will peak near 160k and slowly retreat back close to 100k. At this point there will be a lone sideways action. IT will end when Musk and NASA Tell us about gold mining.
Asteroid gold mining will alter gold to a different status. As it will allow for 100 year or more batteries. Solar will take over bigly as the battery replacement issue for true off grid will be gone. Btc mining will be the primary force behind cheaper energy.

The industry will mature and flat line. The next plateau is the 100-160 range. The eventual plateau is 750k in today's dollars. That is about 20 years to 30 years from now.

Do yourself a favor and do not try using fundamentals to predict btc price levels.

And do not knock magical thinking when it comes to BTC

"Do yourself a favor and do not try using fundamentals to predict btc price levels."

You're asking me to NOT use the fundamentals to predict that BTC will -at minimum- replace gold. As if this was not the case up until now. Aha.... lol

[Arriemoller]

Another bump in the head from the 60k ceiling.

[ivomm]

Another bump in the head from the 60k ceiling.

#Bitcoin BTC trying to break 60K again...

https://twitter.com/i/status/1373244258665238537