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

[Elwar]

Bitcoin works not so great for authoritarians/socialists/leftists..

Bitcoin works great for anyone who hodls some. She has perfect bilateral symmetry, and telling left from right isn't her forte.

Hey, Satoshi! PM me!

David Kleiman disappeared exactly 8 years ago.

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[nullius]

Bitcoin down 25% last week and this place is discussing meat.

Yawn.  It will be back up.  Hey, didn’t I say that Bitcoin is boring (and that’s a good thing).

But, you are wwwwwwwwrrrrrroooooonnnnnngggggg!!!!!!

Bitcoin no be boring, even if uie-pooie are inclined to want to ascribe such "boring" descriptiveness to it.

Learn how to get ur lil selfie ccccccciiiiiitttttteeee, otherwise you are going to require a snap-out-of-it batman slappening, whether be by dis here wee widdle avatar or some other avatar that is more inclined towards physical (imagination) communications in regards to your inept and inapt descriptors directed at king daddy. #nohomo

I reiterate, Bitcoin is boring.  A snoozefest!  I sleep quietly at night, with my life savings in Bitcoin.  So sleepy, it is.

If it makes you feel any better, gold is even more boring than Bitcoin.

If you want excitement, there are altcoins that recently gained 100x and then flash-crashed.  Wheeee!  Which ones will recover, and which ones will just slowly slide away into irrelevance?  (If it makes you feel any better, you can enjoy similar excitement at a Bitcoin casino.)

Now, was there supposed to be some kind of a Bitcoin crash?  Zzzz.  See?  I am not the only one:

No.  After reading that, I do not feel any better.

 

Well, too bad.  I want for my money to be boring.  If I wanted more excitement, then I would go to Ethland where the “move fast and break things” dev culture sometimes results in a chainsplit, a major outage of a centralized API provider, and Binance halting withdrawals.  NOT BORING!  With Ethereum, you are kept on the edge of your chair wondering if your money even still exists.  Bitcoin lacks this feature:  BORING.

Ethereal curse:  “May you have interesting times with your wallet.”

[DaRude]

... indeed, case closed, you're socialist, entirely possible you are also retarded by insufficient brain nutrition.

Yeah i kind of figured reading comprehension might be an issue here.

I'm an omnivore that can enjoy a nice filet mignon, beef carppacio, and a steak tartare once in a while...

[Sayeds56]

Bitcoin down 25% last week and this place is discussing meat.

Yawn.  It will be back up.  Hey, didn’t I say that Bitcoin is boring (and that’s a good thing).

But, you are wwwwwwwwrrrrrroooooonnnnnngggggg!!!!!!

Bitcoin no be boring, even if uie-pooie are inclined to want to ascribe such "boring" descriptiveness to it.

Learn how to get ur lil selfie ccccccciiiiiitttttteeee, otherwise you are going to require a snap-out-of-it batman slappening, whether be by dis here wee widdle avatar or some other avatar that is more inclined towards physical (imagination) communications in regards to your inept and inapt descriptors directed at king daddy. #nohomo

I reiterate, Bitcoin is boring.  A snoozefest!  I sleep quietly at night, with my life savings in Bitcoin.  So sleepy, it is.

If it makes you feel any better, gold is even more boring than Bitcoin.

If you want excitement, there are altcoins that recently gained 100x and then flash-crashed.  Wheeee!  Which ones will recover, and which ones will just slowly slide away into irrelevance?  (If it makes you feel any better, you can enjoy similar excitement at a Bitcoin casino.)

Now, was there supposed to be some kind of a Bitcoin crash?  Zzzz.  See?  I am not the only one:

No.  After reading that, I do not feel any better.

 

https://twitter.com/excellion/status/1386777620604325888?s=21

Spotted a llama what does it means ?

There's no blocksize debate, currently.  Must be a historical reference, no?  I know it was posted (tweeted) in the past 7 hours, but still.. old news, no?

So, who sold at the bottom girls?   Hint: totally retarded, brain-dead, veggie IQ beartards!  

Dude, what about veggie bulltards with memory loss, then?
Hint: I hodl  

Sold a little portion above $50k, which was planned to be sold around $40, while a bit of it got sold in the $60k area already.
My carpenters only want fiat, that's why.

Green candle formation on weekly chart is very positive. If Bitcoin break 56,200 then it should make  new ATH.

I agree that longer time frames, such as the weekly tend to be important to consider what might be going on in terms of BTC price dynamics, but at this point, the weekly has a decent amount of mixed candles.,. there seems to NOT exactly be any kind of meaningful streak going on currently in the weekly candles or anything that is especially notable about the weekly candles (beyond a kind of appearance of consolidation), at this point in time... not that I can see.. but what the fuck do I know?

The monthly, on the other hand, does seem to have a potentially meaningful streak going on.

More specifically, we have a quite unusual situation to have 6 monthly green candles in a row, and at the same time, the current candle (which would be the 7th) is currently red.  Accordingly, the opening price for this monthly candle is at $58,789.96, which means that within about 4.5 days (from the time of this post), that monthly candle is going to close, and it will be green if it is above the opening price and it will be red if it is below thew opening price.  Surely, such candle is currently within reach and also we do have a bit of a momentum that is going in such UPpity direction, currently.. but who can really say, beyond watching and appreciating that the next 4.5 days are "critical.^tm"

You are absolutely right that Monthly candles are also important to predict Price of Bitcoin but i think as long as BTC price is above 21 Weekly Moving average, it is Bullish. We all know that TA is not perfect science and it is science of probability but this is the only Tool that helps us to make trading decision.

Oh my, Sayeds56, your response sounds even worse than it did when I responded to the original post, and surely you are going beyond my response.

In any event to address your further point, it seems quite ridiculous that suggest that the ONLY tool is the 21 week moving average to attempt to gauge if we are in a bearish or bullish posture.

Besides a lot of technical indicators having limited applicability, we have BTC price prediction models that likely tell us, way the fuck better, whether BTC happens to be in a bullish or bearish posture, and those include the following (but not limited to, for sure):  1) stock to flow, 2) four-year fractal, 3) exponential s-curve adoption based on Metcalfe principles and network effects.

If they wanted to create real FUD they would just have to get Craig Wright or whoever to say whilst surrounded by gorgeous women:
"Bitcoin is fantastic, it works really well but it can unfortunately never be used to pay for a whore is that right ladies?"
And they all nod and we watch the price nosedive.

The level and direction of your "imagination" is surely diabolical to the core.   You must further your efforts to offer such consultation services whether free or some level of personal gainenings to those "in need." #nohomo    

The only consultancy / advice needed is: HODL.

There is a diabolical rabbit clothing brand so my "diabolical" imagination probably comes natural to bunnies.

Yes, a cutie for sure.. but what about other techniques such as DCA, buying on dips and lump sum capital injections?  

Even though we might be deviating from the topic of my original response, seems that besides HODL there might be other tactics that could be employed and or consulted, too (am I not called koreck?).  I would not want to presume that there is already a sufficient and/adequate accumulation of the corn, and other tactics may well be currently slipping from my data base(whoops) thinkenings.

@JayJuanGee, sorry Sir, I didn't explain my response well that is why it was totally mis understood. When I said Technical Tool, I meant all Indicators including 21 weekly Moving average which is one of more than 200 Technical Indicators. By the way I trust MACD and Moving average indicators more than others because they always helped me to generate profit through my trading activities..

You may have noticed that I am not a very BIG fan of technical indicators in bitcoin, but I do not claim to be a trader, even though I have some practices that might be considered to be trading.

So yeah from time to time, if peeps (including members in this thread) are posting about technical indicators, might cause me some ccciiitttteeee.. and not necessarily in a good way.

 

In any event, you do you, and surely you may well be getting some backlash from time to time from some of us (referring to yours truly, of course), who don't get too excited about technical indicators.. except citteee in a negative direction.

[DaRude]

https://twitter.com/excellion/status/1386777620604325888?s=21

Spotted a llama what does it means ?

Why is Samson tweeting this now? Or am i reading it wrong

[nullius]

https://twitter.com/excellion/status/1386777620604325888?s=21

Spotted a llama what does it means ?

Why is Samson tweeting this now? Or am i reading it wrong

There is only one reasonable way to read it.  It is wrong, and whoever made it should feel bad.

Bigblockers suffer the same essential fallacy as UBI socialists:  They don’t understand markets.  Bitcoin network capacity is in extremely high demand—high enough that fees reach an equilibrium at the highest that the market will bear, and that in turn limits demand.

A modest linear bump in the blocksize (= supply) would be soaked up instantly, with fees and backlog settling back to where they are now as more people try to make more transactions that are currently not even attempted.  Meanwhile, that linear blocksize increase would non-linearly increase the resource demands on nodes.  (And a large increase of the blocksize, à la CSW rhetoric, would just wreck the network.)

Increasing base-layer capacity to, what, maybe 30–40 tps tops would be a sick joke at a cost that would surprise people.  It would not solve any problems, and it would create many.  We need technologies supporting tens of thousands of TPS or more; a doubling (or whatever) of the current blocksize is insufficient by orders of magnitude, too much and not enough all at once.

A blocksize increase would obviously increase miners’ BTC revenue per successful block:  Blocks would be just as full, and fees would be just as high, and there would be more transactions per block.  But on the other hand, it would also raise miner costs by increasing the orphan rate (and/or the cost of infrastructure to try to avoid this problem); and it would damage Bitcoin’s long-term value proposition, which is bad for miners who have long-term capital investments in Bitcoin.

Never forget that the blockchain with the Nakamoto Consensus is the world’s most inefficient database.  That is the cost of decentralization.  A trusted authority serving as the central arbiter of transaction order, à la Digicash, would be orders of magnitude more efficient and would have other advantages.  It obviously has some fatal disadvantages; observe that Digicash died over two decade ago.  The inefficient database is evidently a worthwhile cost to bear; evidence:  Bitcoin has value!  Just keep in mind that it is costly.  Freedom is not free.


Oh, “llama”?  I read it as “lamer”, but I am not sure.  Also, I do not care.  The rest of it is clear, and it is stupid.  Honey badger ain’t up a tree; and the bulls don’t look very dead from where I sit!


P.S., DaRude, could we please have some more peash and luff in WO?  If you criticize Marcus for posting meaty pictures, then his feelings may be hurt, and he may feel discouraged from the benevolent charitable giving of these virtual meals, and then I may literally starve to death.  Do you want for me to starve!?  You are just full of hate.  

[shahzadafzal]

How to unsee???

You can’t.  I excel in my duty to make the world cuntier.

I don't know, but i would say beauty is in the eye of the beholder.

Whatever it seriously need some Nymphotomy.

What do you mean?  I think that I would specialize in nymphonomy, which sounds to me like the scholarly systematization of nymphs.  If you want to “unsee”, perhaps you mean nymphectomy?  That sounds cruel.
P.S., daily reminder that my avatar has an erotic subtext based in the refined literature of classical antiquity:

Another question:  Is my avatar permitted?  Although it is exoterically an infinite zero, it has an esoteric meaning that is sexually graphic and explicit.

It must be safe for work.

—Yes, I am serious.  I am well-known for double entendre and beyond:  Onion-layered multiplicities of meaning.  Inter alia, the green oval with a dot of my avatāra has always evoked and invoked the yóni opening to the liṅga at the moment of intromission, in accord with my private study of the kāmaśāstra.^*

Now, “unsee” that!

Oh boy let me digest please...!!! were you a teacher in your previous life? ....... just a random thought

No it's not nymphonomy, it's nymphotomy and neither nymphectomy... of course that will be cruel. But nymphotomy is a science in it's onw. It's called perfection.
 
No enough sublinks i know i know...

[Icygreen]

This was quite the insightful podcast on Satoshi, well worth the time imo. https://www.youtube.com/watch?v=KSZMWEhUPG4&ab_channel=WhatBitcoinDid

[El duderino_]

https://twitter.com/excellion/status/1386777620604325888?s=21

Spotted a llama what does it means ?

Lol, my only question is why is proudhon aka llama in the drawing

Nothing more nothing less 

[heslo]

This was quite the insightful podcast on Satoshi, well worth the time imo. https://www.youtube.com/watch?v=KSZMWEhUPG4&ab_channel=WhatBitcoinDid

More often than not McCormack knocks it out the park with his interviews. Listened to his show for years now, thoroughly enjoy it. I'm set to listen to this tomorrow on my way to work

[Parazyd]

Good morning WO! Observing @ $54722, it doesn't feel bad at all

[nullius]

Oh boy let me digest please...!!! were you a teacher in your previous life? ....... just a random thought

No it's not nymphonomy, it's nymphotomy and neither nymphectomy... of course that will be cruel. But nymphotomy is a science in it's onw. It's called perfection.
 
No enough sublinks i know i know...

Eh, touché.  So much for my attempt to infer the meaning of what I mistook to be a nonce word.

I am really only in Bitcoin so that I can afford to buy the heavens, inclusive of Apsarasas.

At least you didn’t throw me an ecofeminist screed on the discursive subtext revealed by how I saw feminine symbolism in a photograph of meat (!).  LOL.  The intersectionality of sexism and speciesism—no really, I am not joking; search the “academic” Critical Theory “literature”.  Speaking of which, where is SwayStar123?  The poor lass; I hope that I didn’t scare her off with my constructive challenge to her “ideas”.  It would be good for her to at least eat an egg laid by a happy free-range hen, or drink a glass of whole milk from a cow on an organic dairy farm, before she permanently joins the ranks of the sickly, malnourished missionaries of the vegan faith.  Perhaps it may not be too late for her yet.  See what a kind-hearted do-gooder I am?  I am just full of peash and luff.

[Sayeds56]

Good morning WO! Observing @ $54722, it doesn't feel bad at all

Need a little pump to make new ATH.

[BitcoinBunny]

This was quite the insightful podcast on Satoshi, well worth the time imo. https://www.youtube.com/watch?v=KSZMWEhUPG4&ab_channel=WhatBitcoinDid

Quite interesting.

Couldn't help but notice a photo of Peter Schiff on the interviewer's shelves.

[Parazyd]

Good morning WO! Observing @ $54722, it doesn't feel bad at all

Need a little pump to make new ATH.

Then PAMP IT

[shahzadafzal]

"Crypto tax in South Korea is ‘inevitable’ in 2022, says minister"
South Korea’s finance minister said that cryptocurrencies like Bitcoin will be taxed as “intangible assets.”
https://cointelegraph.com/news/crypto-tax-in-south-korea-is-inevitable-in-2022-says-minister

If I'm reading it correctly then it says, "bitcoin is being accept as a legal asset".

[El duderino_]

So the 70k heslo in 1 month guess is back on the map....

[El duderino_]

So the 70k heslo in 1 month guess is back on the map....

[bitcoinPsycho]

So the 70k heslo in 1 month guess is back on the map....

You beat me to it 

[LFC_Bitcoin]

@alistairmilne
RUMOUR: Facebook will annouce they hold #Bitcoin  on their books when they release their quarterly results after trading closes tomorrow

https://twitter.com/alistairmilne/status/1386953429814333441?s=21