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

[OutOfMemory]

You bragging eh?
We will only get 17° on Sunday, and 5° at night.
And it's still raining by the way.
Yeah, we have April weather in May, I was hoping global warming would make it go the other way.

Nope.
We only got the downsides from GW, local thunderstorms, stronger winds and dryness.
BUT science says we are after the end of a warming cycle of the sun and global warming will likely be slowing down at least over the next 5 years.
Means more evenly distributed rain, but less windy? hmmm - not that much better anyway...

BTC recovering, time for $58k - $60k again...
#NFA

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[LFC_Bitcoin]

@BTC_Archive
Citibank has seen a “very rapid” growth of interest in #Bitcoin  across all clients, including large asset managers.
- Financial Times, London
https://twitter.com/btc_archive/status/1390602026128711680?s=21



@crypto_rand
https://twitter.com/crypto_rand/status/1390599911826235394?s=21




@Saint_BTC
What took my Dad 20 years to accumulate in the Stock Market, will end up taking me 4.5 years in #Bitcoin 

Wild...
https://twitter.com/saint_btc/status/1390568893660372992?s=21



@cryptoquant_com
11,105 $BTC flowed out from Coinbase in an hour.

Chart 👉
https://cryptoquant.com/overview/full/413?window=hour
https://twitter.com/cryptoquant_com/status/1390598614888509440?s=21


@adrenaline_coin
When btc flows into exchanges it's bearish. The outflows recently have been massive on chain. The next leg up usually lags behind a bit. But it comes soon after all the outflows. Supply and demand #BTC  #Bitcoin 
https://twitter.com/adrenaline_coin/status/1390602420430979073?s=21



@crypto_analytics

#Bitcoin  June Futures contract bullish ascending triangle. Support for now on 20 DMA, break upper horizontal boundary & .618 Fib, we may see all-time highs again. #Crypto #Fibonacci

https://twitter.com/cryptoanalytis/status/1390608726508380161?s=21

[heslo]

@BTC_Archive
Citibank has seen a “very rapid” growth of interest in #Bitcoin  across all clients, including large asset managers.
- Financial Times, London
https://twitter.com/btc_archive/status/1390602026128711680?s=21



@crypto_rand
https://twitter.com/crypto_rand/status/1390599911826235394?s=21




@Saint_BTC
What took my Dad 20 years to accumulate in the Stock Market, will end up taking me 4.5 years in #Bitcoin 

Wild...
https://twitter.com/saint_btc/status/1390568893660372992?s=21



@cryptoquant_com
11,105 $BTC flowed out from Coinbase in an hour.

Chart 👉
https://cryptoquant.com/overview/full/413?window=hour
https://twitter.com/cryptoquant_com/status/1390598614888509440?s=21


@adrenaline_coin
When btc flows into exchanges it's bearish. The outflows recently have been massive on chain. The next leg up usually lags behind a bit. But it comes soon after all the outflows. Supply and demand #BTC  #Bitcoin 
https://twitter.com/adrenaline_coin/status/1390602420430979073?s=21



@crypto_analytics

#Bitcoin  June Futures contract bullish ascending triangle. Support for now on 20 DMA, break upper horizontal boundary & .618 Fib, we may see all-time highs again. #Crypto #Fibonacci

https://twitter.com/cryptoanalytis/status/1390608726508380161?s=21

Inject the hopium right into my veins!

[strawbs]

You bragging eh?
We will only get 17° on Sunday, and 5° at night.
And it's still raining by the way.
Yeah, we have April weather in May, I was hoping global warming would make it go the other way.

Nope.
We only got the downsides from GW, local thunderstorms, stronger winds and dryness.
BUT science says we are after the end of a warming cycle of the sun and global warming will likely be slowing down at least over the next 5 years.
Means more evenly distributed rain, but less windy? hmmm - not that much better anyway...

BTC recovering, time for $58k - $60k again...
#NFA

Yeah, that was pretty much predicted at least twenty years ago. The term 'global warming' was largely replaced by "climate change"* exactly because the predicted effects were that weather extremities would become more commonplace. Not everywhere will experience warmer temperatures.

So over twenty years ago, northern Europe was predicted to experience hotter drier summers, milder wetter winters and more frequent storms, for example. Which is exactly what's happening. We just had one of the driest and coldest Aprils on record, followed by the wettest first week of May on record.

[*please, let's not have another tiresome debate about whether climate change exists and/or why - that one's been done to death]

Just wondering, when btc finally breaks $70k and onwards, whether it will carry the alts with it? Or will it get the cane out of the cupboard and give them a damned good thrashing?

[LFC_Bitcoin]

@s2fmultiple
Stock-to-Flow Multiple (463d)
2021-05-06, 23:59 UTC

ln(actual / model)

Actual price: $56,527.35
Model price: $55,512.06
S2F multiple: 0.02





https://twitter.com/s2fmultiple/status/1390528132919201792?s=21

[heslo]

You bragging eh?
We will only get 17° on Sunday, and 5° at night.
And it's still raining by the way.
Yeah, we have April weather in May, I was hoping global warming would make it go the other way.

Nope.
We only got the downsides from GW, local thunderstorms, stronger winds and dryness.
BUT science says we are after the end of a warming cycle of the sun and global warming will likely be slowing down at least over the next 5 years.
Means more evenly distributed rain, but less windy? hmmm - not that much better anyway...

BTC recovering, time for $58k - $60k again...
#NFA

Yeah, that was pretty much predicted at least twenty years ago. The term 'global warming' was largely replaced by "climate change"* exactly because the predicted effects were that weather extremities would become more commonplace. Not everywhere will experience warmer temperatures.

So over twenty years ago, northern Europe was predicted to experience hotter drier summers, milder wetter winters and more frequent storms, for example. Which is exactly what's happening. We just had one of the driest and coldest Aprils on record, followed by the wettest first week of May on record.

[*please, let's not have another tiresome debate about whether climate change exists and/or why - that one's been done to death]

Just wondering, when btc finally breaks $70k and onwards, whether it will carry the alts with it? Or will it get the cane out of the cupboard and give them a damned good thrashing?

I expect they'll get punished pretty badly as those who fomo'd into some of the utter total shitcoins realised they've been fucking duped

[somac.]

Unconfirmed transactions under 20k just now. A fair decrease compared to 1-2 weeks back.

https://mempool.space/

0.31c to get in next block

Edit: blink and you missed it though.

Actually, unconfirmed transactions are at their lowest since 8th January. Don't know if this is good or bad.

In general, the fee sizes are disgusting really.

Disgusting? in what way? One does not have to pay the massive fees, I never have myself, and they are always temporary. Sure that might mean that it takes a while for a confirmation, but they always go through in the end. If I ever do consider the fees to be out of reach I will then switch more of my transactions over to the LN.

[gembitz]

bitcorn hit 100k yet? gogogogoggg

[Mbitr]

bitcorn hit 100k yet? gogogogoggg

https://upload.wikimedia.org/wikipedia/commons/3/35/Llanfairpwllgwyngyllgogerychwyrndrobwllllantysiliogogogoch.JPG


Almost there
Llanfair­pwllgwyngyll­gogery­chwyrn­drobwll­llan­tysilio­gogo­goch …..bitcoin 

[BitcoinBunny]

[somac.]

haha, coinmarketcap is showing ETH at 3800, yeah right. That's 300 more than it actually is.

[Richy_T]

I expect they'll get punished pretty badly as those who fomo'd into some of the utter total shitcoins realised they've been fucking duped

It occurs to me that a limiting effect previously is that people experiencing BTC FOMO had to get their money onto the exchanges which could have blunted what was already an overheated bubble. This time a lot of money is already on the exchanges. Could get interesting.

[cAPSLOCK]

Cheaps, 1 sat = $0.00056. Lowest than doge.

I think Marty and Matt of TFTC (as well as others) have been doing a great job pushing the "Sats the standard" narrative.  But this is really a difficult problem to overcome.

Unit bias has turned out to be one of the stickiest areas slowing bitcoin's inevitable acceptance.  In fact I would say it is one of the very top "problems".  Luckily it has a simple solution.  But it seems like a tough path to overcome the thought that "no one can afford a whole bitcoin anymore".

I sometimes wonder if "Sats" is a good enough word.  Perhaps so.  It is short, simple, and generally easy to say for people who speak all kinds of languages.  And it might take some time for it to finally break through, but thinking of Bitcoin in THAT unit instead of EITHER whole coins or even USD is more important than I think many realize.

[d_eddie]

Cheaps, 1 sat = $0.00056. Lowest than doge.

I think Marty and Matt of TFTC (as well as others) have been doing a great job pushing the "Sats the standard" narrative.  But this is really a difficult problem to overcome.

Unit bias has turned out to be one of the stickiest areas slowing bitcoin's inevitable acceptance.  In fact I would say it is one of the very top "problems".  Luckily it has a simple solution.  But it seems like a tough path to overcome the thought that "no one can afford a whole bitcoin anymore".

I sometimes wonder if "Sats" is a good enough word.  Perhaps so.  It is short, simple, and generally easy to say for people who speak all kinds of languages.  And it might take some time for it to finally break through, but thinking of Bitcoin in THAT unit instead of EITHER whole coins or even USD is more important than I think many realize.

I agree. I've been advocating the switch to a marketing friendly name for mBTC for quite some time. A mBTC, even if it gets to, say, 2k$, is still a mentally manageable amount.

[Dabs]

I agree. I've been advocating the switch to a marketing friendly name for mBTC for quite some time. A mBTC, even if it gets to, say, 2k$, is still a mentally manageable amount.

I personally don't like mBTC. I much prefer either whole BTC or just Satoshis. I also prefer seeing the whole 8 digits, like 0.12345678 BTC. This is just me though, and probably because I've been in the space and gotten used to it with the old wallets.

[LFC_Bitcoin]

I agree. I've been advocating the switch to a marketing friendly name for mBTC for quite some time. A mBTC, even if it gets to, say, 2k$, is still a mentally manageable amount.

I personally don't like mBTC. I much prefer either whole BTC or just Satoshis. I also prefer seeing the whole 8 digits, like 0.12345678 BTC. This is just me though, and probably because I've been in the space and gotten used to it with the old wallets.

Yeah, I don’t like satoshis or mBTC, it confuses me if I’m honest. I much prefer to say 0.00123BTC etc.

[d_eddie]

Myself, I can live with plain BTC, but mBTC is easier on the eyes. With the full unit, miscounting zeros can have serious consequences. Sats could be almost OK in a similar way as (but worse than) plain BTC, but we would still have the "too many zeros" problem, just on the other side of the decimal point. Of course agreeing with @Dabs that all significant digits are, well, significant - regardless of where the decimal point is placed.

However, this is about personal preference. I was talking about marketing, after @cAPSLOCK's remark. In other words, I am thinking about the 'Corn for Dummies' playbook. I still feel mBTC, but with a fancy name, could be the best choice. Like 1 dragon = over 50 bucks! Wow, one dragon is now worth 100$! Wow, 2000$!! I remember the dragons I bought at 84 bucks! And many would still be able to afford one or more "full"  "dragons" - or whatever the fancy name is: anything too nerdy, like Finneys etc., wouldn't cut it in my dream.

The next 1st world problem we're going to have is adding a few decimal places on-chain. Hopefully direly needed soon  

[LFC_Bitcoin]

https://twitter.com/documentingbtc/status/1390665121324806144?s=21


Source - https://www.cnbc.com/2021/05/07/sec-chairman-gary-gensler-says-more-investor-protections-are-needed-for-bitcoin-and-crypto-markets.html

[Dabs]

anything too nerdy, like Finneys etc., wouldn't cut it in my dream.

The next 1st world problem we're going to have is adding a few decimal places on-chain. Hopefully direly needed soon 

Finney was already attempted, ... I don't think it really got popular. Sats is universally accepted as the smallest unit, currently 0.0000 0001 BTC. In the future, it would mean the 8th digit after the decimal.

Adding more decimals, I don't know how that would technically work on-chain and if the rest of the world is going to follow. It's sort of used internally by some exchanges and gaming / gambling websites, and then rounding them.

If you really really need more decimals, there is the unpopular option of simply using a different coin or token, or work with off-chain solutions, whether that's layer 2 or even centralized services.

Banks are going to do this, maybe... then we'll see some "salami slicing" happening where no one really sees what's going on and someone has accumulated all the sats or below 1 sat unseen.

[shahzadafzal]

I agree. I've been advocating the switch to a marketing friendly name for mBTC for quite some time. A mBTC, even if it gets to, say, 2k$, is still a mentally manageable amount.

I personally don't like mBTC. I much prefer either whole BTC or just Satoshis. I also prefer seeing the whole 8 digits, like 0.12345678 BTC. This is just me though, and probably because I've been in the space and gotten used to it with the old wallets.

Yeah, I don’t like satoshis or mBTC, it confuses me if I’m honest. I much prefer to say 0.00123BTC etc.

There has been discussions about what should be used “sats” or “bits”... and we saw earlier CMC added sats to track it’s price against USD

Here’s one Twitter thread with some good discussion in favor of “bits” and “bitcents”

“Sats are confusing, afaict sats were designed by Satoshi to be bitcents under bits.
1million is much easier than 100mil base.
Even bitcoin-qt (core) had bits for years.
You still have sats, just bits and bitcents (aka sats), like dollars and cents.”

https://twitter.com/adam3us/status/1335354258858905604?s=21