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

[BitcoinBunny]

Fun fact, ABBA got famous by winning the Eurovision song contest in 1974 in Brighton, I watched it with some friends at a friends place in Rosengård (now a no go zone) and then biked home in the middle of the night, I was 14 and it was totally safe.
The song is called Waterloo, enjoy https://www.youtube.com/watch?v=Vp1_OKawHYw

Have watched Eurovision since the 80s. Still miss Terry Wogan commenting.

Embarrassing some of the terrible entries us Brits have sent over the last 10 or so years.
Engelbert Humperdinck and Bonnie Tyler. Haven't had hits for like 3 or 4 decades.
Even the last time we won, technically it was an American.
Very strange because many of our pop music exports do exceptionally well abroad (Ed Sheeran, Dua Lipa) etc.

[vapourminer]

To me the data is very relevant. It shows that altcoins easily get replaced with other alts and no one really believes in the true value of them (except for a very few perhaps) even when the crypto marketcap has tripled in value.
Picking successful alts out of a choice of 7000+ is like a lottery.
I'd rather stick with BTC.

around 2017/18 i "diversified" a few percent of my btc into some (at the time somewhat interesting) alts. , like 8 or 9 of them. of those probably 50% are gone now because they switched algos and/or tokens or whatever at some point, ie if you didnt swap your coins for the new ones they were lost (my fault for not paying attention of course). and a huge chunk of the rest cratered got desisted or trade at basically zero.

point it i NEVER had to do anything to keep my corn. addresses i made in 2011 still work. the coin is still there. and i will never need to move those coins to some new format or lose them (well maybe when quantum computer are common).

point is btc is STABLE. i have confidence in just parking corn in a wallet and leaving it for years or decades. with no worries

that, aside from the tech etc, is the real power and value behind bitcoin.

[LFC_Bitcoin]

$58,602

[AlcoHoDL]

The winner takes it all.

https://www.youtube.com/watch?v=92cwKCU8Z5c

There's something pure and original about ABBA. They remind me of my carefree days of youth, when we never locked our homes and knew everyone in the neighbourhood.

[Arriemoller]

The winner takes it all.

https://www.youtube.com/watch?v=92cwKCU8Z5c

There's something pure and original about ABBA. They remind me of my carefree days of youth, when we never locked our homes and knew everyone in the neighbourhood.

I agree, but I guess it's the same for every generation, we all have our carefree youth memories.

Another fun fact, it was the Swedish version of "Waterloo" that became popular in Sweden and was played on the radio all the time. https://www.youtube.com/watch?v=2V1PovdHM8k

Edited for clarity.

[bkbirge]

Yup.
https://cointelegraph.com/news/not-a-cheaper-bitcoin-bitcoin-gold-soars-173-as-traders-may-be-buying-the-wrong-btg

Cointelegraph reiterates that buying Bitcoin Gold, Bitcoin Cash or any cryptocurrency with a ticker other than BTC means that one holds an altcoin, not Bitcoin itself.

We all hate shitcoins. I do too.

But, maybe, just maybe, shitcoins are a blessing in disguise. They do seem to help in a few things:

-- Sort out the opportunists from the serious investors.
-- Sort out the thick in the head from the smart.
-- Stress-test (and confirm) Bitcoin's unprecedented robustness and fault tolerance.
-- Weed out cancer cells, such as Craig Wright, Calvin Ayre, Roger Ver, and Jihan Wu.
-- Suck wealth out of "get rich quick" traders, just like maggots eat rotten flesh.

I often get angry when I see posts shilling shitcoins. But I shouldn't. To all shitcoin shills, I say: "Bring it on! Give it all you've got! Attack Bitcoin as fiercely as you can! Let the strongest survive!" After all, that's how the universe works. From the wild animals of the jungle, to the highest level of refined civilization. Survival of the fittest. So, bring it on, and let the winner take all.

[Sayeds56]

No, we try to not have that kind of discussions, it's not denial, it's just keeping this thread free from shitcoin talk.
If you must talk about them there are literally dozens of other threads, keep this one clean.

OK, now I have to reply to this accusation. I wasn't talking about shitcoins. Pay attention. Someone asked why Bitcoin was losing market dominance and I suggested it was capacity issues with Bitcoin. It's everyone else who jumps on with suggestions of using shitcoins for some reason.

Oh poor lil Richy_T.....  trying to stay on topic (like a good bitcoin maximalist.. #nohomo), but everyone else causing his lil selfie to have to respond.  

I have to weigh in on this 1 millionth Big/Small block detour.

People still see this as entirely black and white.  Bitcoin chose small therefore it = digital gold.  Period.

This completely ignores the fact that more and more folks are working on the tech behind doing transactions on layers.  Spending bitcoin quickly (and even in a trust minimized way) is already working somewhat, and will only work better and better with MANY choices and tradeoffs.  Just like you can spend the USD with credit cards, checks, cash, payal etc, and see that settle in your account daily, and have those banks settle via FEDwire Bitcoin is starting to work the same way.

With ONE importnt difference.  WE are fedwire.  You do not have to be a bank to use the BTC blockchain.

"But it will be too expensive to transact on the base chain!"  Says who?  You can still do it.  Anyone can do it.  Having small transactions priced out is compitition and we have chosen that path to secure the best distributed/decentralized ffuture possible for the base layer.

Someone fleeing their oppressive country cannot use Fedwire to take their savings with them.  But they can bitcoin. (Or lightning, or liquid, etc)

Bitcoin WILL be used transactionally.  Folks (ex Saylor) are knowingly downplaying this right now EXACTLY because the longer we can keep the "digital gold only" narrative going the longer the reserve banks will drag their asses.

But we should know better gents...

I guess we don't all agree. I stand corrected.

Sidechains may have a major use case in the future, we will see.  Right now they are just experimental.

The main chain as a store of value is what is giving us this price and is the driver behind any significant price increases going forward.

We don't need a swiss army knife, we just need a stable store of value. That's what the world needs.

I think we DO agree mostly.  And I agree that BTC as a store of value is use case #1.  It's just that the digital, ephemeral nature of BTC lends itself to technological solutions with few boundaries which will happen quickly and take it into the realm of a transactional asset as well.  I also think use case #1 is really the only one we should be focusing on now... at least in certain contexts.

One of the good things about bitcoin is that it gives no shits about either use case number 1 or use case number 2, and each of us can choose whichever use case that we want, including use case number 3 or even the use case of NOT using it.  It does appear that a large number of us believe that use case number 1 is driving a lot of bitcoin's current value, but many of us also appreciate that bitcoin can already be used for a variety of other use cases, even if some of those other use cases are more limited in their availabilities or user-friendliness.. but bitcoin has capacities beyond use case number 1 and 2.

Use case #1 also implies that the true value of BTC per whole coin is indeed going to 100 million USD. Eventually. It will take decades maybe. Around the year 2050 we will find out. Some of us will be gone, others will have just "matured" ... We will see... we will see...

Sure, it could take another 10 to 30 years for BTC to reach $100 trillion.. which is a mere 100x from here.. or $5.5 million per coin... but it does seem that you are outlining this in a bit too much of a bearish way because the more bullish scenarios could actually quite easily reach $5.5 million per coin within 2 cycles.  I don't need to elaborate on the numbers, do I?

This cycle could top anywhere between $62k and $1.5million.. and let's just look at the more bearish of numbers (that's 2021)

The next cycle could then top $200k to $500k (remember bearish numbers).. (that's 2025)

The next cycle could then top $1 million to $5.5million (remember bearish numbers).. (that's 2029)

Are we going to need another cycle if the numbers are even more bearish than I have outlined? or could it take another 5 cycles as seem to be suggesting could be the case..

yeah.. I don't really expect to make it to 2050.. but sure there could be a chance.. as with anything.  In recent years, I did have a doctor tell me that I could make it to 2060-ish (not in those words, exactly), and my health has not really deteriorated since such statement but still taking such optimism with a decently large grain of salt.... I am a bit skeptical of experts - even though it did make me feel good at such time the statement was made.

[Arriemoller]

The fighting in Northern Ireland might start again.
https://www.youtube.com/watch?v=a1lOPzUg0dQ

[Arriemoller]

Reminds me of this old song, that guy spinning around and doing weird moves always made me shake my head.

https://www.youtube.com/watch?v=p0Rjm8Wzmhk

[BitcoinGirl.Club]

Good morning WO!
Observing @ $ 58,810

[heslo]

Yup.
https://cointelegraph.com/news/not-a-cheaper-bitcoin-bitcoin-gold-soars-173-as-traders-may-be-buying-the-wrong-btg

Cointelegraph reiterates that buying Bitcoin Gold, Bitcoin Cash or any cryptocurrency with a ticker other than BTC means that one holds an altcoin, not Bitcoin itself.

We all hate shitcoins. I do too.

But, maybe, just maybe, shitcoins are a blessing in disguise. They do seem to help in a few things:

-- Sort out the opportunists from the serious investors.
-- Sort out the thick in the head from the smart.
-- Stress-test (and confirm) Bitcoin's unprecedented robustness and fault tolerance.
-- Weed out cancer cells, such as Craig Wright, Calvin Ayre, Roger Ver, and Jihan Wu.
-- Suck wealth out of "get rich quick" traders, just like maggots eat rotten flesh.

I often get angry when I see posts shilling shitcoins. But I shouldn't. To all shitcoin shills, I say: "Bring it on! Give it all you've got! Attack Bitcoin as fiercely as you can! Let the strongest survive!" After all, that's how the universe works. From the wild animals of the jungle, to the highest level of refined civilization. Survival of the fittest. So, bring it on, and let the winner take all.

lol, Bitcoin Gold... I dumped that shit at like $330 odd a coin, was a good move

[BitcoinGirl.Club]

Never thought like that!
Yeah I am holding THE MOST desirable asset in the world which cost $58,880 each right now 🙂

[BitcoinBunny]

The fighting in Northern Ireland might start again.
https://www.youtube.com/watch?v=a1lOPzUg0dQ

Pathetic individuals.

But then this lockdown nonsense gives countless individuals nothing better to do than just cause trouble.

We should be aiming for zero percent crime in the UK.
We probably need at least double the number of police officers at minimum.

Portugal turned things around quite well I believe.

Maybe I will retire there.

[El duderino_]

https://twitter.com/coderbtc/status/1380235081525161992?s=21

[OutOfMemory]

The fighting in Northern Ireland might start again.
https://www.youtube.com/watch?v=a1lOPzUg0dQ

Sinn Fein / Religious conflicts at the root again. Wouldn't be the worst decision to ban religion.
But the worst is that the Brit government blames the EU for it.
Johnson is about the worst top politician i have witnessed so far: Brings nothing but disadvantages for the british people, seems to be proud of it.

[Krubster]

HSBC will not let clients buy Microstrategy stock due to their newly changed policy on "virtual currencies".

https://mobile.twitter.com/DocumentingBTC/status/1380285286178041857

Nice way staying irrelevant, HSBC. I guess they will continue to focus on laundering money for the drug cartels instead.

[OutOfMemory]

HSBC will not let clients buy Microstrategy stock due to their newly changed policy on "virtual currencies".

https://mobile.twitter.com/DocumentingBTC/status/1380285286178041857

Nice way staying irrelevant, HSBC. I guess they will continue to focus on laundering money for the drug cartels instead.

It's fine. People are forced more to use exchanges and buy&hold real BTC.

[DeathAngel]

When will this high power resistance on 60000 USD fall? Feels like an eternity ranging in my humble opinion. Surely we storm the fort in the next week or two.

[Dabs]

Use case #1 also implies that the true value of BTC per whole coin is indeed going to 100 million USD. Eventually. It will take decades maybe. Around the year 2050 we will find out. Some of us will be gone, others will have just "matured" ... We will see... we will see...

Sure, it could take another 10 to 30 years for BTC to reach $100 trillion.. which is a mere 100x from here.. or $5.5 million per coin... but it does seem that you are outlining this in a bit too much of a bearish way because the more bullish scenarios could actually quite easily reach $5.5 million per coin within 2 cycles.  I don't need to elaborate on the numbers, do I?

You misread what I wrote, and even quoted it. I said 100m USD per coin, not $5.5m.

[Karartma1]

When will this high power resistance on 60000 USD fall? Feels like an eternity ranging in my humble opinion. Surely we storm the fort in the next week or two.

It's stronger than predicted, I think the altcoin small upside seen recently is preventing that barrier to be crossed again. As soon as the alts crumbles 60k will be in reach.
 Weak hands will collapse and smart money will go back to corn.
About time.