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

[Kylapoiss]

Ok, in all seriousness, everyone knows this thing is on the verge of a collapse, right? Double top. Low volume. Get out while you still can.

Thanks for the tip, sold all my stash. Thank god I got out when still ahead.

[Dabs]

PoS ain't happening for Bitcoin. Sure, any altcoin can do it, go ahead.

I agree.  Sort of.  But what stops there from being a fork backed by this "initiative"?

I hope you are right... Maybe I forgot that bitcoin does not give a crap about any "Crypto somethingornother Initiative".

Nothing. Forks happen. It will be... a .. "fork", and not Bitcoin, even if they use the same name. Bitcoin Gold, Diamond, Black, Cash, SV, ... BitcoinFork... does not matter.

We will have an opportunity to split whatever fork coins they make. It's all going back to Bitcoin.

[cAPSLOCK]

I hate that my analysis is different than Proudhon's  I am worried something might be wrong with my science or sources... not sure.

But I am seeing a fairly clear pennant pattern with descending volume.  The interwebs teach me these usually break in the UP direction.

This must be an reverse bearish indicator of some sort?

[proudhon]

Ok, in all seriousness, everyone knows this thing is on the verge of a collapse, right? Double top. Low volume. Get out while you still can.

I am sure you are right.  You always are, somehow.

But where is the double top you are talking about???

It's basically a triple top really. Plain as day and math.

[cAPSLOCK]

PoS ain't happening for Bitcoin. Sure, any altcoin can do it, go ahead.

I agree.  Sort of.  But what stops there from being a fork backed by this "initiative"?

I hope you are right... Maybe I forgot that bitcoin does not give a crap about any "Crypto somethingornother Initiative".

Nothing. Forks happen. It will be... a .. "fork", and not Bitcoin, even if they use the same name. Bitcoin Gold, Diamond, Black, Cash, SV, ... BitcoinFork... does not matter.

We will have an opportunity to split whatever fork coins they make. It's all going back to Bitcoin.

Going to continue as the devil's advocate here, trying to think adversarially.

If they do this they will have a lot of money and high level marketing behind it along with the attention of politicians.  I think it could be a bumpier road than the last fork adventure.

[Dabs]

PoS ain't happening for Bitcoin. Sure, any altcoin can do it, go ahead.

I agree.  Sort of.  But what stops there from being a fork backed by this "initiative"?

I hope you are right... Maybe I forgot that bitcoin does not give a crap about any "Crypto somethingornother Initiative".

Nothing. Forks happen. It will be... a .. "fork", and not Bitcoin, even if they use the same name. Bitcoin Gold, Diamond, Black, Cash, SV, ... BitcoinFork... does not matter.

We will have an opportunity to split whatever fork coins they make. It's all going back to Bitcoin.

Going to continue as the devil's advocate here, trying to think adversarially.

If they do this they will have a lot of money and high level marketing behind it along with the attention of politicians.  I think it could be a bumpier road than the last fork adventure.

And ... what about all the miners and all time hash rates? They're going to stick to the original. The fork can do PoS if they want.

[d_eddie]

Buying the top and hodling hard beyond a new ATH is part of the transformation to a Bitcoiner, isn't it?

If it doesn't kill you, it makes you poorer.

Now that's the birth of a new proverb  

What doesn't kill you makes you poorer

+1 WOsMerit

Covered a "boring" one for you 

[d_eddie]

PoS ain't happening for Bitcoin. Sure, any altcoin can do it, go ahead.

I agree.  Sort of.  But what stops there from being a fork backed by this "initiative"?

I hope you are right... Maybe I forgot that bitcoin does not give a crap about any "Crypto somethingornother Initiative".

Nothing. Forks happen. It will be... a .. "fork", and not Bitcoin, even if they use the same name. Bitcoin Gold, Diamond, Black, Cash, SV, ... BitcoinFork... does not matter.

We will have an opportunity to split whatever fork coins they make. It's all going back to Bitcoin.

Going to continue as the devil's advocate here, trying to think adversarially.

If they do this they will have a lot of money and high level marketing behind it along with the attention of politicians.  I think it could be a bumpier road than the last fork adventure.

And ... what about all the miners and all time hash rates? They're going to stick to the original. The fork can do PoS if they want.

Yes @cAPSLOCK, it's just sour coffee, likely. Real sharkwhales should know better what happens when you fork around with the badger. See that Chinese motherfucker, he also had many miners under his thumb given his control of the hardware supply chain. How much good did it do to bcash lol? Let them make BTC-PoS, or any other aptly named POS coin (notice the acronym already includes the proper prefix for this kind of coins).

A. I'm sure all the invested miners will turn themselves belly up for the final death strike. Heavyweights will sell all their bags, Elon, Michael and all the others. As we will. Everyone will accept it as hard payment. It will go to the moon and beyond. The new shitcoin will rule the world.

B. If anything like that happens, we'll need to time our shitbag dumping to maximize the bonus fork prize. Smart forecasters needed!

A little game: which of the two is my real position?

[WhyFhy]

Yall selling today or hodling?
My gut is saying sell and watch for 52k.
My mind says do the opposite of what everyone else is doing and gobble some up.
They are both wrong 50% of the time.   

[d_eddie]

Ok, in all seriousness, everyone knows this thing is on the verge of a collapse, right? Double top. Low volume. Get out while you still can.

Thank you!! We were starting to worry, uncertain whether to hold on a little more or dump eet right now.

[cAPSLOCK]

PoS ain't happening for Bitcoin. Sure, any altcoin can do it, go ahead.

I agree.  Sort of.  But what stops there from being a fork backed by this "initiative"?

I hope you are right... Maybe I forgot that bitcoin does not give a crap about any "Crypto somethingornother Initiative".

Nothing. Forks happen. It will be... a .. "fork", and not Bitcoin, even if they use the same name. Bitcoin Gold, Diamond, Black, Cash, SV, ... BitcoinFork... does not matter.

We will have an opportunity to split whatever fork coins they make. It's all going back to Bitcoin.

Going to continue as the devil's advocate here, trying to think adversarially.

If they do this they will have a lot of money and high level marketing behind it along with the attention of politicians.  I think it could be a bumpier road than the last fork adventure.

And ... what about all the miners and all time hash rates? They're going to stick to the original. The fork can do PoS if they want.

Ah yes.  That's a tremendous point.  So miners and USAF type users will definitely be aligned in this scenario unlike last time.  That's a fairly large contingent.  I think the majority of influential DEVs are also all in the PoW camp.

I am still not ready to write off the possibility of this agenda getting pushed.

That said, what I think is GOOD about this group is they may be able to figure out some interoperability for their platforms by using something like Liquid, or even establishing their own trusted or federated ledger so that you can do transfers between themn off chain.  Again, I will not likely be using any of these services in any meaningful amount.  But MANY will.

Ugh.  Someone whose opinion I respect (Beautyon the Aztec.co fellow) also seems to have gone down the more paranoid thought path about this same issue...  He makes some good points... but sounds even more alarmed than me.



https://threadreaderapp.com/thread/1379710923888279552.html

[ivomm]

Yall selling today or hodling?
My gut is saying sell and watch for 52k.
My mind says do the opposite of what everyone else is doing and gobble some up.
They are both wrong 50% of the time.   

Sell now all your 0.000001BTC. Then rebuy at 59K. Rinse and repeat!

[JimboToronto]

Ok, in all seriousness, everyone knows this thing is on the verge of a collapse, right? Double top. Low volume. Get out while you still can.

Thank you!! We were starting to worry, uncertain whether to hold on a little more or dump eet right now.

Everybody knows that a bitcoin is too expensive and that ICOs, NFTs and Defi are the only way to invest in crypto.

[BobLawblaw]

Poor again.

Come on show us your new buy orders?  

Au contraire, I just fired off a transaction to load some coin onto the exchange. Not sure when I'm going to pull the trigger, but going to take another low 7 digits in profit to calm me down. Shouldn't need to sell any more until the ranch gets nearer to completion; at least a year away.

Heard back from our accountant, and quarterly reporting is pushed out for another month, so I have more time for a price recovery. Would like to go at least a full quarter before I consider selling again, and even then, that'll likely be a big *IF* depending on circumstances.

[Sayeds56]

Man, the 59-60k range is proving to be a right pain in the ass

Does it mean that you are "bored?"

For me, there is a Lindy effect feeling that is going on.. call me LindyJGee.. or maybe I should solicit a change to my nym?

For us this 59-57-59 daily action is quite boring, but for the daily traders who follow the trend it is like living in a scary movie (which they put themselves into because of their stupidity). I guess they screem like little girls when selling with a "stop" loss each day, until their "stop" loss adds up to a complete loss of their resourses. I am lazy to write the code counting all their losses, but it seems that the turning point when these weak hands will be removed from the game is quite near.

Edit. I've just noticed that the volume of the latest stop loss is 4-5x bigger than the previous dips in the last days. So there is a good chance that this will be the last dip before breaking 60K and heading towards 100K in the next weeks.

Bold assertion.. if I do say so my lil selfie.

 

My 4 Hrs chart is showing accumulation around 56,300 and breakout is likely to happen that should take it to new ATH.

[Biodom]

Poor again.

Come on show us your new buy orders?  

Au contraire, I just fired off a transaction to load some coin onto the exchange. Not sure when I'm going to pull the trigger, but going to take another low 7 digits in profit to calm me down. Shouldn't need to sell any more until the ranch gets nearer to completion; at least a year away.

Heard back from our accountant, and quarterly reporting is pushed out for another month, so I have more time for a price recovery. Would like to go at least a full quarter before I consider selling again, and even then, that'll likely be a big *IF* depending on circumstances.

everyone buys and sells when they must...that's all.

[El duderino_]

see if an image is on the internet

Business as usual

[Arriemoller]

There is no need to shill something that is implemented, working and fully accepted.

Yes. It was just annoying that it was being touted when it was clear it was not a solution and, indeed, has proven not to be.

The subtext, of course, is that LN also has issues (not least requiring on-chain capacity) that also make it not a solution and people need to pull their heads out of the sand about why Bitcoin is losing market share.

Oh fuck of will you.
All your merits have been revoked.

[JayJuanGee]

https://twitter.com/HuskyBitcoin/status/1379385934555316228?s=20

And even then you are being nice, how long could it take for someone to memorize 12 to 24 seed words in the right order? Even if it took a whole month now you can move your coins without bringing anything with you and instead of measuring this on grams we should do it in neural connections.

When your brain is in it's prime (maybe between 10 years old and 35 - just guessing), you could memorize 24 words in an hour or so.. As you get older, or if you might start to suffer deteriorations, you might need a day or even up to a week... so a week at most for memorizing 24 words - absent some cognitive impairment.

https://www.coindesk.com/bitcoin-lightning-network-10k-active-nodes

I'll give you this, at least nobody is shilling Segwit as the answer anymore.

I understand with some hoop jumping that lightning network could have been built without Segwit, but isn't Segwit a foundational layer to lightning network being practically developed? - so in other words, there might not be any need to tout the underlying technology of lightning network (Segwit) even though it is a kind of necessary condition that makes lightning network way more practical... and of course, other second layer solutions that are likely to continue to develop in the years to come are also built upon Segwit - again without having to tout Segwit because Segwit is just a done deal.. so over that.. from August 2017 (even though some folks whined for months and months and months about Segwit, but their whining is kind of (absent little digs from some continuing bitter ones who cannot really seem to get over it.. no names.. Richy_T.. cough cough..) drying up after 3.5 years when they are kind of figuring out that the whining is not really doing much, if any, good..(absent little digs from some continuing bitter ones who cannot really seem to get over it.. no names.. Richy_T.. cough cough..) because Segwit is just so much a part of our current little fiend, aka bitcoin and the transition to Segwit is so over, done and kuput. and no need to really talk about it(absent little digs from some continuing bitter ones who cannot really seem to get over it.. no names.. Richy_T.. cough cough..).


 

[shahzadafzal]

Poor again.

Come on show us your new buy orders? 

Au contraire, I just fired off a transaction to load some coin onto the exchange. Not sure when I'm going to pull the trigger, but going to take another low 7 digits in profit to calm me down. Shouldn't need to sell any more until the ranch gets nearer to completion; at least a year away.

Heard back from our accountant, and quarterly reporting is pushed out for another month, so I have more time for a price recovery. Would like to go at least a full quarter before I consider selling again, and even then, that'll likely be a big *IF* depending on circumstances.

everyone buys and sells when they must...that's all.

We all know the rules of the game and rule # 1

"Don't invest more than you can afford to lose."

If HODLING is the strategy then selling and buy are the tactics.