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

[Parazyd]

Congrats to a new legend - Phil_S!
Well deserved IMO.
I haven't been able to contribute much, but now I'm clapping my hands from the sidelines :-)

Fine at 9xx? No effing way. It's just like the corn being fine at 1x,xxx.

Meanwhile chillin' at 5xx and accumulating BTC.

Life's good.

[aesma]

Doing my daily look at the mempool and the damn thing is near empty. 1 sat fees are now being processed now, so a great time to make some transactions.

Curious about ETH strength of late, I take a look at their mempool. Full, massivily full, and has been since the start of this year. Of course high fees are the norm but I think what this also says is that there is a tonne of consistant demand out there on their network, BTC looks like a ghost town in comparison. Now I realise this is because their network is clogged up with all sorts of silly shit (and BTC hash has increased), but if this demand is maintained (and I'm sure no one here wants to hear this), we have to consider the very likely possibility that ETH will eventually beat out BTC for the number one spot.

Yes ETH is a centralized shitcoin and a mess in so many ways, but nobody seems to care about that. The attitude is "well they'll solve all those problems with future updates". Maybe they will, maybe they won't. Either way I don't think it matters. ETH has their network effect, just like BTC does, there will be no ETH killer, but with all the extra shit that is flooding their network as time goes on, how could it not beat BTC, the digital gold that everyone just hodls but doesn't do much else with.

I won't be investing in it, but also don't want to be disappointed when (if) it does unseat BTC. I don't think it will be able to take BTC place this cycle either, but next on, maybe.

I hope I am wrong.

I think ETH has its uses but I must say as the price goes up and the fees go crazy, it seems less useful, so it could be a bit like bitcoin, without the advantage of the limited supply.

[bkbirge]

Reads like the guy really doesn't like btc but has to report positive news, lol.
https://www.msn.com/en-us/money/markets/46-million-americans-now-own-bitcoin-as-crypto-goes-mainstream/ar-BB1gCKYv?ocid=msedgntp

The survey found great interest in Bitcoin. About half the respondents said they want to receive some or all of their insurance benefits in Bitcoin, NYDIG's survey found. Nearly 90% said they had some interest in insurance or annuity products that have at least some indirect link to Bitcoin.

[Richy_T]

Ceiling Zuckerberg is watching you masturbate.

The last laugh is on him. I paid the 0.15BTC so my masturbation video didn’t get sent to my friends, family & colleagues.

Zuck doesn't count as any of those.

[shahzadafzal]

Congrats to a new legend - Phil_S!
Well deserved IMO.
I haven't been able to contribute much, but now I'm clapping my hands from the sidelines :-)

Fine at 9xx? No effing way. It's just like the corn being fine at 1x,xxx.

Meanwhile chillin' at 5xx and accumulating BTC.

Life's good.

“xxx” Bitcoin has ruined us... something profitable? Compare it Bitcoin’s success in xxx.  Something too expensive? Convert it to Bitcoin 0.0xxx and damn that’s cheap

[philipma1957]

Congrats to a new legend - Phil_S!
Well deserved IMO.
I haven't been able to contribute much, but now I'm clapping my hands from the sidelines :-)

Fine at 9xx? No effing way. It's just like the corn being fine at 9x,xxx.

I fixed that.

When the time comes We will not stand for 99,999.

[philipma1957]

This is my 666th post, scary shit.

you now have 250 merits should help you move up.

[OROBTC]

This is my 666th post, scary shit.

you now have 250 merits should help you move up.

Philipma1957!  Just the sort of guy who might be able to answer a question I just asked over at another thread (at Development & Technical), since you're a miner...:

https://bitcointalk.org/index.php?topic=5336854.0

What happens to "change" that would come back after sending a small amount (say BTC0.0001) to a miner?

Asking for a friend.


EDIT: Hey Philip, the question has been answered over there.

[bitebits]

When bitcoin freezes (cold storage), it expands by 200% per year.

[Richy_T]

Time for bed. I'd like to place a wake-up call for $61,000 please.

[OutOfMemory]

Time for bed. I'd like to place a wake-up call for $61,000 please.

Placed. I hope it's not going off in 2024  

Been pretty busy lately, building, planning, constructing, building, repairing.
This week it's not too bad to NOT have time to check the BTC price too often  
Alts are the new stonks now?

EDIT: Can't remember to whom i talked about e-drums here lately, but i managed to get a used Alesis dm10 pro mkII in good (refurbished) condition at a bargain price.
It has about 8ms latency on the heads, which is good enough for me, as it's a learning/practice kit for the family. There's a slightly longer delay on the cymbals, but i can barely feel it. Might depend on settings, too. The decision to buy this one was based on the extra 12" tom and 2nd crash cymbal, extra snare stand and an X-Hat, which is a "normal" 2-cymbals variant for open/half open/close sounds, mounted on a regular hihat stand.
I would have liked a Roland for 4ms latency, but there were none available used nearby, and i don't even remember one within the last few months when i was looking for used e-kits occasionally.

EDIT2: BTC, if bouncing right now at around $56.200 should be fine.

[Phil_S]

[somac.]

You know its kind of weird. The mempool is essentially empty, transactions of 1sat/vB are going through now, yet there are transactions still being sent at 605sat/vB.

Are these people just dumb as dogshit or is it an exchange sending huge fees at their customers expense in an effort to make it look to people like BTC fees are high?

I can explain this no other way.

Edit: Here's the address that is doing it. Pretty odd behaviour.

https://mempool.space/address/37VbgjzwVrM93g6zQrc4XP5RonpwnwKevj

[kellrobinson]

Red shows bitcoin's arithmetic mean ("average") daily price from 100 weeks in the past to 100 weeks in the future.  Green shows bitcoin's geometric mean ("geomean") price over the same time span.
The geomean looks better to me.  In principle the geometric mean works better than the arithmetic mean on data that spans orders of magnitude.
People are habituated in linear thinking, use of linear charts and linear functions like the arithmetic mean.  You see it all the time, even on glassnode, linear financial charts where data gets squished at the bottom of the scale, with monster intermittent spikes.



The green line starts going pretty straight in 2015 and shows bitcoin's price trend doubling yearly.  If you extrapolate the line to today, price is a little above it.  But for the geomean to keep going in a perfectly straight line, we'll need another boom to several hundred $k.  LOL

[shahzadafzal]

If you trust in Bitcoin you don't need to trust any one else... These conventional media outlets runs on "yellow journalism". No facts no realities just sickening headlines to catch people's attention.

This was on my timeline today three news from big and kinda authentic outlets with 180 degree views

1.
The timing of bitcoin crossing $1 million is the big question.
https://finance.yahoo.com/news/bitcoin-will-eventually-hit-1-million-dollars-a-coin-coin-desk-editor-predicts-172810294.html

2.
Bitcoin could slide to $40,000 after falling below a key technical level, crypto exchange boss says
https://markets.businessinsider.com/currencies/news/bitcoin-price-outlook-fall-technical-analysis-cryptocurrencies-ether-dogecoin-2021-5-1030415720

3.
This bitcoin misconception could be what takes it to $250,000, according to Morgan Creek’s Yusko
https://www.cnbc.com/2021/05/09/bitcoin-crypto-misconception-could-propel-it-to-250k-mark-yusko.html

[Phil_S]

'Doubling yearly' sounds good. I'm OK with that.

[somac.]

If you trust in Bitcoin you don't need to trust any one else... These conventional media outlets runs on "yellow journalism". No facts no realities just sickening headlines to catch people's attention.

This was on my timeline today three news from big and kinda authentic outlets with 180 degree views

1.
The timing of bitcoin crossing $1 million is the big question.
https://finance.yahoo.com/news/bitcoin-will-eventually-hit-1-million-dollars-a-coin-coin-desk-editor-predicts-172810294.html

2.
Bitcoin could slide to $40,000 after falling below a key technical level, crypto exchange boss says
https://markets.businessinsider.com/currencies/news/bitcoin-price-outlook-fall-technical-analysis-cryptocurrencies-ether-dogecoin-2021-5-1030415720

3.
This bitcoin misconception could be what takes it to $250,000, according to Morgan Creek’s Yusko
https://www.cnbc.com/2021/05/09/bitcoin-crypto-misconception-could-propel-it-to-250k-mark-yusko.html

Those rags, like all the others, are in the business of making money, not reporting news. You will never get accurate news from journalists.

[Phil_S]

Speakin of 'sickening headlines to catch people's attention'...

Goldman Sachs executive quits after making millions from Dogecoin
https://www.theguardian.com/technology/2021/may/11/goldman-sachs-executive-quits-after-making-millions-from-dogecoin

Rags, all rags.

[Dabs]

1 and 3 look positive. One says a million, another says a quarter of a million. Per bitcoin. As far as price goes, that looks pretty bullish to me.

The market insider one is still kinda better than any value from last year at $40k.

[Karartma1]

'Doubling yearly' sounds good. I'm OK with that.

I think everyone is on the same page here.