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

[Arriemoller]

Just sold a teeny weeny little bit, so now the price is pretty sure to go up.
Also, it's going to rain all day today and all day tomorrow, Jippie.

Update on the weather situation: it's going to rain on Thursday as well.

Update; Friday, Saturday and Sunday are now also going to be rainy.

Update: the rain have stopped for a short wile, raining will commence at 10:00.

[1713965185]

1713965185

[Arriemoller]

What will happen to btc price once they (exchanges) run out? Someone calculated that projected time for that is 122 days or so

people always post this retort bs, but we all know that after summer comes fall, right?
it's not like suddenly, you get winter immediately after the summer, so some trends or patterns exist.

In any case, there is another rule (that is proven to be correct): the longer the trend persists, the more likely it would continue.
The trend of declining btc on exchanges is already continuing since Jan-Feb of 2020 and is only accelerating, so it is quite reasonable to expect eventual btc depletion (on exchanges), maybe not to zero, but to a sufficiently lower number to cause high volatility.

Scarcity means higher price, higher price means more people are willing to sell their bitcoins, more bitcoins flow to the exchanges, new price level established, and so on. It's rather basic economics really.

actually, NO.....read upon Veblen goods.
Btc is a clear Veblen good...and it is declining on exchanges as i posted (since Jan 2020) all the way from $8K to today's 57.5K in price.
I guess, it is economics 201 and not basic  

I didn't say the same amount of bitcoin as before will flow to the exchanges, just that a higher price will make people sell who would not otherwise have sold, there will be fewer and fewer sellers of course, that's what makes the price explode ("new price level established"), and that is exactly what we want.

[hv_]

Insider-Snake sniffin

https://twitter.com/CobraBitcoin/status/1390007008766697475

Yes, we're in a bubble. Yes, many of you will lose a lot of money. No, it's not different this time.

[Arriemoller]

I just ordered a Binance card (ViSA debit). I've no idea how long it will take to deliver. Not interested in trying the electronic (virtual) substitute before receiving the actual one.

Only binance accounts can be used to top it up - no transfer from the exterior. This looks like a clear case of "not your keys". On the other hand though, the description says it converts to fiat only when spending. No maintenance fee, so I can check the exchange rate for fuckery and avoid using it altogether if I don't like what I see. Does anyone have experience with that and want to share?

You inspired me, I just ordered one too
It's cheaper for me to buy through the Binance card  then to sell through Safello or bt.cx and then use that money to buy the same thing.

Looking forward to see the physical card. will connect the virtual card to PayPal right away.

Edit: Connection to PayPal successful.
Will do a trial order and pay with PayPal as soon as my 0.02 btc reaches my Binance wallet.

[Kylapoiss]

I just ordered a Binance card (ViSA debit). I've no idea how long it will take to deliver. Not interested in trying the electronic (virtual) substitute before receiving the actual one.

Only binance accounts can be used to top it up - no transfer from the exterior. This looks like a clear case of "not your keys". On the other hand though, the description says it converts to fiat only when spending. No maintenance fee, so I can check the exchange rate for fuckery and avoid using it altogether if I don't like what I see. Does anyone have experience with that and want to share?

You inspired me, I just ordered one too
It's cheaper for me to buy through the Binance card  then to sell through Safello or bt.cx and then use that money to buy the same thing.

Looking forward to see the physical card. will connect the virtual card to PayPal right away.

Edit: Connection to PayPal successful.
Will do a trial order and pay with PayPal as soon as my 0.02 btc reaches my Binance wallet.

I've used the card in different stores and 3 different places online, works like a charm.

[Arriemoller]

I just ordered a Binance card (ViSA debit). I've no idea how long it will take to deliver. Not interested in trying the electronic (virtual) substitute before receiving the actual one.

Only binance accounts can be used to top it up - no transfer from the exterior. This looks like a clear case of "not your keys". On the other hand though, the description says it converts to fiat only when spending. No maintenance fee, so I can check the exchange rate for fuckery and avoid using it altogether if I don't like what I see. Does anyone have experience with that and want to share?

You inspired me, I just ordered one too
It's cheaper for me to buy through the Binance card  then to sell through Safello or bt.cx and then use that money to buy the same thing.

Looking forward to see the physical card. will connect the virtual card to PayPal right away.

Edit: Connection to PayPal successful.
Will do a trial order and pay with PayPal as soon as my 0.02 btc reaches my Binance wallet.

The coins just hit my spot account and I just transferred it to my card account, that transfer was immediate and free.

[Arriemoller]

I just ordered a Binance card (ViSA debit). I've no idea how long it will take to deliver. Not interested in trying the electronic (virtual) substitute before receiving the actual one.

Only binance accounts can be used to top it up - no transfer from the exterior. This looks like a clear case of "not your keys". On the other hand though, the description says it converts to fiat only when spending. No maintenance fee, so I can check the exchange rate for fuckery and avoid using it altogether if I don't like what I see. Does anyone have experience with that and want to share?

You inspired me, I just ordered one too
It's cheaper for me to buy through the Binance card  then to sell through Safello or bt.cx and then use that money to buy the same thing.

Looking forward to see the physical card. will connect the virtual card to PayPal right away.

Edit: Connection to PayPal successful.
Will do a trial order and pay with PayPal as soon as my 0.02 btc reaches my Binance wallet.

The coins just hit my spot account and I just transferred it to my card account, that transfer was immediate and free.

Just paid for stuff I bought on Tradera, (an auction site, like Ebay, but Swedish) through Paypal. Worked flawlessly, I will be using this card rather than selling small amounts through my old channels in the future.
10/10 units of whatever is used as merit in your region, would recommend.

[LFC_Bitcoin]

Observing $58,072.



Would love to finally break upwards & out of this relatively sideways $54,000 - $58,500 range.

Let’s see what the next few days bring.

[Kylapoiss]

Observing $58,072.



Would love to finally break upwards & out of this relatively sideways $54,000 - $58,500 range.

Let’s see what the next few days bring.

Don't be greedy mate

[julian071]

I have a good feeling about an imminent brakeout. Hoping to be able to quote myself shortly.

[heslo]

I have a good feeling about an imminent brakeout. Hoping to be able to quote myself shortly.

I'm quoting you now; make it happen. Sick of seeing BCH rise, want to see it pummeled into the ground. Mind you it's still only 2.5% of BTC price and they're celebrating like the flippening is at any moment haha

[LFC_Bitcoin]

Sick of seeing BCH rise, want to see it pummeled into the ground. Mind you it's still only 2.5% of BTC price and they're celebrating like the flippening is at any moment haha

I’m sick of seeing utter shitcoins pumping. I checked one of my exchange accounts this morning & I see 1INCH pumping 25%, ETC is up about 200% in the last month, DOGE is out of control, EOS up 25%, ADA up 22%.

I mean what the hell is 1INCH.

WTF is this nonsense?

I’ll admit, it’s beginning to piss me off.

[d_eddie]

I just ordered a Binance card (ViSA debit). I've no idea how long it will take to deliver. Not interested in trying the electronic (virtual) substitute before receiving the actual one.

Only binance accounts can be used to top it up - no transfer from the exterior. This looks like a clear case of "not your keys". On the other hand though, the description says it converts to fiat only when spending. No maintenance fee, so I can check the exchange rate for fuckery and avoid using it altogether if I don't like what I see. Does anyone have experience with that and want to share?

You inspired me, I just ordered one too
It's cheaper for me to buy through the Binance card  then to sell through Safello or bt.cx and then use that money to buy the same thing.

Looking forward to see the physical card. will connect the virtual card to PayPal right away.

Edit: Connection to PayPal successful.
Will do a trial order and pay with PayPal as soon as my 0.02 btc reaches my Binance wallet.

I've used the card in different stores and 3 different places online, works like a charm.

Wow nice to hear, thanks guys.
How about the cashbacks? Got any? That's the part that intrigues me most. I do replace every sat I spend anyway, so it would just be a bit of free money for me.

[MERlT]

Sick of seeing BCH rise, want to see it pummeled into the ground. Mind you it's still only 2.5% of BTC price and they're celebrating like the flippening is at any moment haha

I’m sick of seeing utter shitcoins pumping. I checked one of my exchange accounts this morning & I see 1INCH pumping 25%, ETC is up about 200% in the last month, DOGE is out of control, EOS up 25%, ADA up 22%.

I mean what the hell is 1INCH.

WTF is this nonsense?

I’ll admit, it’s beginning to piss me off.
[It's Binance Exchange just selling to it'self]

[lightfoot]

I’m sick of seeing utter shitcoins pumping. I checked one of my exchange accounts this morning & I see 1INCH pumping 25%, ETC is up about 200% in the last month, DOGE is out of control, EOS up 25%, ADA up 22%.

It is a bit odd. According to my little spreadsheet, bitcoin should be at 82,000 or so with the rise in some foundational alts like ETC and LTC. It's possible this is alts just "catching up" to bitcoin's run but if so it means the ratios have changed significantly towards what they were in the olden days. I'll have to do a bit of analysis to see what is "frothy" and what is "rational" in terms of that ratio.

(example: LTC used to be worth .01 btc. It dropped to .003, held at .004 forever and now is in the .006 range. It went as high as .018 during the last stupid altcoin run. So is .004 the new "normal", or is it just reverting to .01? Time will tell, however dipshit coins could be clouding the waters)

(ETC is another oddball: It's real ethereum, but with the balls not to change to make the DAO people rich. As such it was pretty much left in the dust in the ETH runups, but since it can do everything ETH can do there is no reason to run the functionality of stuff on overly expensive ETH. And since ETH as a store of value is silly and it's a "bad faith" coin that will fuck people over to save others why not move back to ETC? Interesting)

[OutOfMemory]

I mean what the hell is 1INCH.

1INCH is having very bad karma in one's love life   #nh

Don't get too annoyed by the altcoin rally, the alt season is just topping, it will be over soon.
It's not that bloomers would have put their money into BTC if the alts wouldn't exist. I think it's mainly Robinhood, eToro and the likes that got noobs to invest in alts instead of stonks. NFT's are also a sign of topping madness. Guess which coin will survive, in the end...  

I have a good feeling about an imminent brakeout. Hoping to be able to quote myself shortly.

Think i wrote something two days ago, that we should reach $58k about today.
If we break $58k and stabilize, i also wouldn't rule out a pump to somewhere between $60 to $65k.
#NFA

EDIT: I see $58k already got broken for a short while today.

[Elwar]

Sick of seeing BCH rise, want to see it pummeled into the ground. Mind you it's still only 2.5% of BTC price and they're celebrating like the flippening is at any moment haha

I’m sick of seeing utter shitcoins pumping. I checked one of my exchange accounts this morning & I see 1INCH pumping 25%, ETC is up about 200% in the last month, DOGE is out of control, EOS up 25%, ADA up 22%.

I mean what the hell is 1INCH.

WTF is this nonsense?

I’ll admit, it’s beginning to piss me off.

I have some 1inch. I took a bunch of ETH I had sitting around and turned them into shitcoins to see what this DeFi was all about. 1inch is essentially a DEX coin used as the middle currency for trading a bunch of other currencies. It will go back down, it's not meant to gain much value over time.

I re-iterate that had I kept my shitcoins in ETH I would be better off even with some shitcoins getting over 150% returns (as their price continues to drop). And had I kept that ETH in BTC it would have even more value.

When BTC dips they dip much quicker. When BTC goes up, they go up quicker.

The key lesson learned with playing around with DeFi is that the ETH gas price is way too high. I've paid $500 in gas fees to set up a trade. But it gives me hope for when we can do it all on the Bitcoin LN using RGB at almost zero fees. ETH and all of the alts will go away.

[d_eddie]

I mean what the hell is 1INCH.

1INCH is having very bad karma in one's love life   #nh

Only until it moons to 1YARD.

[cAPSLOCK]

Sick of seeing BCH rise, want to see it pummeled into the ground. Mind you it's still only 2.5% of BTC price and they're celebrating like the flippening is at any moment haha

I’m sick of seeing utter shitcoins pumping. I checked one of my exchange accounts this morning & I see 1INCH pumping 25%, ETC is up about 200% in the last month, DOGE is out of control, EOS up 25%, ADA up 22%.

I mean what the hell is 1INCH.

WTF is this nonsense?

I’ll admit, it’s beginning to piss me off.

I have some 1inch. I took a bunch of ETH I had sitting around and turned them into shitcoins to see what this DeFi was all about. 1inch is essentially a DEX coin used as the middle currency for trading a bunch of other currencies. It will go back down, it's not meant to gain much value over time.

I re-iterate that had I kept my shitcoins in ETH I would be better off even with some shitcoins getting over 150% returns (as their price continues to drop). And had I kept that ETH in BTC it would have even more value.

When BTC dips they dip much quicker. When BTC goes up, they go up quicker.

The key lesson learned with playing around with DeFi is that the ETH gas price is way too high. I've paid $500 in gas fees to set up a trade. But it gives me hope for when we can do it all on the Bitcoin LN using RGB at almost zero fees. ETH and all of the alts will go away.

Someday... Someday.. who knows when?  We will realize that putting all transactions, features, and functions on the base layer or a blockchain asset is a fundamental error.  This FORCES us to be at the will of an centralized authority.  We can build ALL these apps (so far mostly solutions looking for a problem) on sidechains, and those can centralize as much as we might want.  That way we have choice.

OR... we can be OK with having people in control of everything we do, say, and spend.

I wish my faith in humanity was a little stronger.

[shahzadafzal]

So apparently there’s this media influencer in Pakistan who’s so hyped and overconfident on crypto that he claims he can pay off all intl. debt of Pakistan using crypto. I’m not sure what he really mean by “using crypto”?

This is the same guy who tried to setup hydro powered Bitcoin mining rigs in Pakistan.



https://twitter.com/zakawaqar/status/1389627715645546502?s=21