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

[Toxic2040]

#stronghands

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[marcus_of_augustus]

https://twitter.com/dr_moonmath/status/1393823973746565124?s=21

... this is what's happening musk is getting flushed out the back by the decentralised forces aligning against a malignant threat like musk, each bull run has had and slaughtered it's hero turned anti-hero, each of a larger 'import'

... interestingly musk is actually arguably an important figure on the global scale so slaughtering him, or someone of his status, is a right of passage for bitcoin moving to the global stage asset class as a decentralised force

... next time around a president or central banker or ruling regime?

[DaRude]

Who needs enemies with friends like this: https://twitter.com/elonmusk/status/1393738154889338884?s=21

It’s becoming stranger and stranger  

Regardless, the increased Bitcoin fear in WO posts strengthens my feeling that this correction is nearing its end.

Man I'm so glad he keeps blabbing, showing the world just how much of an idiot he truly is. This is great. Keep going, Elon.

"Better to stay quiet and be thought a moron, that to open your mouth and remove all doubt."

Think people just overestimate him and think of him as some kind of a god, but he's just going through the typical phases like the majority. Currently he hit the "shitcoin" phase. This will pass once he learns about lightning then he'll be back to BTC, just needs some time

[In the silence]

This is getting ugly, when’s it going to stop  

$43k?

If that breaks

38% below ATH so $39k ?

If that breaks then we are in Proudhon territory at $24,472 or 66% below ATH and Proudhon takes the El duderino prize and we all get to bow down to Proudhon.

Fear index at Max = Strong Buy

Yeah, were going below $35k now. The chart in 2018 is the same like this, potentially fall to -40%. But I dont know, adoption is stronger than 3 years ago. Who knows.

[Paashaas]

Elon must be on a rampage because i only see on Twitter: tweet not available.

Mr Elon Musk is acting as a nail in the coffin for bitcoin at the moment. 

Someone moved 19k+ coins to Coinbase before Elon started his FUD tweet this week so i guess he already sold and probaly buying back later.

[shahzadafzal]

Elon must be on a rampage because i only see on Twitter: tweet not available.

He’s dedicating his Twitter profile to being anti bitcoin. Every tweet is negative towards bitcoin. He’s trying to singlehandedly destroy us.

In India and Pak we say “bandar k hath machis aajae tu wo pooray jungle ko aag laga deta hai”

That translates to “if a monkey gets his hands on a matchstick box, he will burn down the whole jungle”

That’s what literally happened in case of Elon... he got a matchstick!!!



Watch it here..
https://youtu.be/QxYmm5yCJBg

[LoyceV]

Last quarter Tesla sold more than $500 million worth of carbon credits.
~
Enter Bitcoin miners, Elon Musk trashes Bitcoin for its energy use, at the same time promoting Dogshitcoin, helping Bitcoin price to fall. Then offers to solve the problem by offering to sell Bitcoin miners the spare carbon credits.

Wait, did he really try to sell carbon credits to Bitcoin miners?

If Tesla gets paid to sell carbon credits, doesn't that make them liable for the actual emission?
Let's see how much carbon credit costs: Opisnet:

The auction settled at $17.80/mt

Let's assume this is a reasonable estimate for the price. If Tesla sold more than half a billion dollars worth of credits, that means Tesla "covered" 28 million tonnes of emissions in just 3 months. Tesla only sold 185,000 cars during this time. Does that mean they can sell 150 tonnes of carbon credits for each car they sell? Let's assume their average car drives 250,000 km during it's lifetime, that makes 600 grams CO2 per km, which is about 5 times the average emission of new cars in Europe.

So: is my math wrong? Or is Tesla liable for much more emissions than even the most inefficient gas cars or all of Bitcoin mining?

[JayJuanGee]

This is getting ugly, when’s it going to stop  

$43k?

If that breaks

38% below ATH so $39k ?

If that breaks then we are in Proudhon territory at $24,472 or 66% below ATH and Proudhon takes the El duderino prize and we all get to bow down to Proudhon.

Fear index at Max = Strong Buy

Those are all possible, but I have a hard time giving very great odds to something like $24,472 playing out by June 21.. so sure we could have some ups and downs along the way and gosh grinding down to $24,472 in a bit over a month would be painful and likely shake a lot of weak hands. 

Just assuming that something like that could happen, I am not even sure if we would be out of the bullrun, and it could well set us up for a 2013 like scenario of a double top.  Not saying that the top of $64,895 might not already be in, but surely, there seem to be quite a few different scenarios of getting to new ATHs of supra $64,895 even if it were to take a few months to get back to that point.. even 5-6 months or so which would kind of mimic the 2013 price dynamics situation in terms of severity of dump and getting stuck lower and getting the reversal back up...   

But, yeah, we have a lot of this time is different, but still no one should really be able to deny that there remains a lot of froth to be shaken out - even though the shaking out can happen in a variety of ways, one of the easier ways might be to shake out by dumping everything "crypto" related rather than attempting to figure out which coin or project might have more froth than another.. and surely we could get some potential attacks on some of the chains too in order to exacerbate where ever we might be at this time. .but then also.. the bottom of $45,127 (as I type) could be in.. so there are a lot of scenarios, and I would not proclaim to know much of anything beyond 50/50 and even appreciating that there currently may well be down momentum, but we know that even existing states of down momentum can end up stopping at any time, whether there is a final wick or not.

This is getting ugly, when’s it going to stop  

$43k?

If that breaks

38% below ATH so $39k ?

If that breaks then we are in Proudhon territory at $24,472 or 66% below ATH and Proudhon takes the El duderino prize and we all get to bow down to Proudhon.

Fear index at Max = Strong Buy

Yeah, were going below $35k now. The chart in 2018 is the same like this, potentially fall to -40%. But I dont know, adoption is stronger than 3 years ago. Who knows.

Yeah.. but we are not in 2018 right now... where did you get that?

Your using a 3 year fractal or whatever the fuck you are doing is out of touch with dominant and credible BTC price prediction models..

So, if you can explain ur lil selfie, why you are using 3 years as your reference then maybe whatever you are suggesting might play out more convincingly.. but I am having a hard time with it, as you have framed our currently seeming price predicament.

I am not even saying that 40% plus of a correction is not off the table because we are already at 30%, but still that needs to be considered within the right framework, no?

[Elwar]

Elon must be on a rampage because i only see on Twitter: tweet not available.

Mr Elon Musk is acting as a nail in the coffin for bitcoin at the moment. 

Him not having all of that money to hold over our heads would be better for Bitcoin in the long run. Let him gobble up Doges.

[Farmer Bill]

Last quarter Tesla sold more than $500 million worth of carbon credits.
Tesla will miss out on $240 million in revenue this year after European car giant Stellantis (a merger between Fiat Chrysler and the French-based PSA Group) revealed it would need far fewer credits to meet European Union emissions regulations than it initially thought.
This loss is assuming Tesla can’t find another customer for the carbon credits.

Enter Bitcoin miners, Elon Musk trashes Bitcoin for its energy use, at the same time promoting Dogshitcoin, helping Bitcoin price to fall. Then offers to solve the problem by offering to sell Bitcoin miners the spare carbon credits. With these, Bitcoin miners now producing a green coin, can fill OTC orders to institutional investors who can continue with plans to add Bitcoin to their balance sheets whilst meeting their Environmental, Social, and Corporate Governance (ESG) obligations.
The ESG is the single biggest barrier to entry for institutions.
Elon happy to keep a source of profit, strengthens TSLA stock.
Institutional investors happy to buy new non tainted environmentally clean bitcoin. Probably at a premium to cover miners increased costs.
Price starts rising again, everyone happy, except Proudhon of course!

I was cheering you on Farmer Bill, until you got to the point that Bitcoin miners are going to have any kind of meaningful incentive to playing  ball with carbon credit bullshit.  Sure there might be some bad faith miners that play that game, but I really doubt the vast majority of miners are going to give two shits or even less than that about bullshit ideas of carbon credit.

yeah, sure many of us realize that if BTC prices are at a premium, BTC miners probably give less than two shits about how much energy they are using, the kind of energy or how much it costs - as long as they are profitable - which seems to me that in recent times, there has been a lot of surplus in the profits of bitcoin miners.

Another thing that many of us recognize is that if (more likely when) profit margins in BTC mining turn more competitive, there are likely more incentives to search out cheaper energy sources, and BTC miners can be (and even have been) quite portable in that respect, which causes them to frequently seek out energy sources that might not otherwise be usable because of their distance from consumption sources or other inefficiencies that exist in regular markets and causing bitcoin mining to be amongst the most energy efficient of use cases, so the energy misinformation spreaders can fuck off with their opposite of true talking points that are attempting to mislead folks into nonsense theories like the one that you outlined above (no homo .. hahahahaha).

Thanks for your input, I postulated this idea with the intent of it being trashed.

Personally, I'm not on board with the (hidden) agenda that is being promoted as climate change, the crap about bitcoin mining and energy use that has been pushed into the consciousness of the general public through the MSM has been incessant. However I do know that potential institutional investors experience great difficulties getting Bitcoin onto their balance sheets in a squeaky clean way due to their legal departments insistence on adhering to the corporate governance stuff.

[modrobert]

This is probably out of place in the WO thread (might feel unprofessional for those who like to stay emotionally detached from their commodities).

Bitcoin is the future regardless if it is valued at USD $1 or $100,000. This is a fully developed world wide system which allows anyone to have a wallet, to be their own bank with access to every transaction ever made, stored securely in an immutable blockchain, and completely independent from any banking or regulation system.

Personally I want to support Bitcoin as a system, this is a once in a lifetime opportunity, owning BTC is part of that. For those of you who are too daft to see the potential, or too shortsighted due to greed in their speculation schemes, then by all means sell now.

Bitcoin is a major invention; what the printing press did by spreading the written word, what the internet did to connect all of us, this is the technology to replace our banks and currencies eventually. In the meantime there will be a lot of friction from powerful people, especially from those involved in our old financial institutions, it's been a battle since Bitcoin started in 2009.

[fillippone]

Breaking news:
Musk Implies Tesla May Sell or Has Sold Bitcoin Holdings

[marcus_of_augustus]

...dogecoin, it's the way of the future, way of the future, way of the future ... just to need to show me the blueprints, show me the blueprints, show me the blueprints

... it's sad to watch a brilliant man burn up and get consumed by some dark forces eminating from deep within himself, ego, moral insecurity, paranoia, meglomania, love-of-money, etc

... Spaceship could be a spruce goose of our age, Tesla may be bailed out and taken over by the Federal gubmint, the new GM, Starlink the next AT&T coopted by the MIC for global surveillance, who knows where this goes and what Musks legacy and place in history really will look like after the world has had it's way with him

[Sayeds56]

This is getting ugly, when’s it going to stop  

$43k?

If that breaks

38% below ATH so $39k ?

If that breaks then we are in Proudhon territory at $24,472 or 66% below ATH and Proudhon takes the El duderino prize and we all get to bow down to Proudhon.

Fear index at Max = Strong Buy

Those are all possible, but I have a hard time giving very great odds to something like $24,472 playing out by June 21.. so sure we could have some ups and downs along the way and gosh grinding down to $24,472 in a bit over a month would be painful and likely shake a lot of weak hands.  

Just assuming that something like that could happen, I am not even sure if we would be out of the bullrun, and it could well set us up for a 2013 like scenario of a double top.  Not saying that the top of $64,895 might not already be in, but surely, there seem to be quite a few different scenarios of getting to new ATHs of supra $64,895 even if it were to take a few months to get back to that point.. even 5-6 months or so which would kind of mimic the 2013 price dynamics situation in terms of severity of dump and getting stuck lower and getting the reversal back up...    

But, yeah, we have a lot of this time is different, but still no one should really be able to deny that there remains a lot of froth to be shaken out - even though the shaking out can happen in a variety of ways, one of the easier ways might be to shake out by dumping everything "crypto" related rather than attempting to figure out which coin or project might have more froth than another.. and surely we could get some potential attacks on some of the chains too in order to exacerbate where ever we might be at this time. .but then also.. the bottom of $45,127 (as I type) could be in.. so there are a lot of scenarios, and I would not proclaim to know much of anything beyond 50/50 and even appreciating that there currently may well be down momentum, but we know that even existing states of down momentum can end up stopping at any time, whether there is a final wick or not.

This is getting ugly, when’s it going to stop  

$43k?

If that breaks

38% below ATH so $39k ?

If that breaks then we are in Proudhon territory at $24,472 or 66% below ATH and Proudhon takes the El duderino prize and we all get to bow down to Proudhon.

Fear index at Max = Strong Buy

Yeah, were going below $35k now. The chart in 2018 is the same like this, potentially fall to -40%. But I dont know, adoption is stronger than 3 years ago. Who knows.

Yeah.. but we are not in 2018 right now... where did you get that?

Your using a 3 year fractal or whatever the fuck you are doing is out of touch with dominant and credible BTC price prediction models..

So, if you can explain ur lil selfie, why you are using 3 years as your reference then maybe whatever you are suggesting might play out more convincingly.. but I am having a hard time with it, as you have framed our currently seeming price predicament.

I am not even saying that 40% plus of a correction is not off the table because we are already at 30%, but still that needs to be considered within the right framework, no?

Support/Resistance levels of Bitcoin on Weekly Chart.

[Arriemoller]

It's a Sunday dump
Will there be a Monday pump
Only time will tell

[Paashaas]

89% hashrate is now signalling for Taproot, atleast there is some positivity around.

[Farmer Bill]

Last quarter Tesla sold more than $500 million worth of carbon credits.
~
Enter Bitcoin miners, Elon Musk trashes Bitcoin for its energy use, at the same time promoting Dogshitcoin, helping Bitcoin price to fall. Then offers to solve the problem by offering to sell Bitcoin miners the spare carbon credits.

Wait, did he really try to sell carbon credits to Bitcoin miners?

If Tesla gets paid to sell carbon credits, doesn't that make them liable for the actual emission?
Let's see how much carbon credit costs: Opisnet:

The auction settled at $17.80/mt

Let's assume this is a reasonable estimate for the price. If Tesla sold more than half a billion dollars worth of credits, that means Tesla "covered" 28 million tonnes of emissions in just 3 months. Tesla only sold 185,000 cars during this time. Does that mean they can sell 150 tonnes of carbon credits for each car they sell? Let's assume their average car drives 250,000 km during it's lifetime, that makes 600 grams CO2 per km, which is about 5 times the average emission of new cars in Europe.

So: is my math wrong? Or is Tesla liable for much more emissions than even the most inefficient gas cars or all of Bitcoin mining?

I don't know about the entire balance of Tesla's business. For example I know they have some solar power setup.
Also that when you drive a new car away from the dealership it already has around 60% of its lifetime carbon footprint already "baked in".

I have no idea if Musk approached any miners, it is just conjecture.
And they would probably as JayJuanGee says not give two shits.
 

[bkbirge]

This has been picked up onto main stream news. This is the entire "article". Feel free to comment bomb, lol.
https://www.sandiegouniontribune.com/opinion/letters-to-the-editor/story/2021-05-16/opinion-cryptocurrency-abuse-must-come-to-an-end

Re “Cyberattack on Scripps Health has scary, broad implications” (May 7): Hospitals, pipeline operators, oil companies, even city governments have all been hit by ransomware attacks. These attacks are happening more and more frequently and they all have one thing in common: cryptocurrency.

The perpetrators of these attacks demand payment in Bitcoin or some other cryptocurrency, because these payments are untraceable and unstoppable.

It’s long past time to put an end to these non-governmental currencies. Cryptocurrencies appear to have been created specifically to facilitate illegal activities. They serve no legitimate purpose. Their primary uses are ransomware, extortion and funding terrorists, the drug trade and child pornography.

The only way to end ransomware is to end cryptocurrencies.

[shahzadafzal]

Satoshi we need you!!!

[JayJuanGee]

[Edited out]

Thanks for your input, I postulated this idea with the intent of it being trashed.

Personally, I'm not on board with the (hidden) agenda that is being promoted as climate change, the crap about bitcoin mining and energy use that has been pushed into the consciousness of the general public through the MSM has been incessant. However I do know that potential institutional investors experience great difficulties getting Bitcoin onto their balance sheets in a squeaky clean way due to their legal departments insistence on adhering to the corporate governance stuff.

I did not really have any problem with the ideas that you presented in that earlier post in terms of being composed of the various kinds of incentives that are being imposed and propagandized in various mainstream systems.  I do not claim to be any kind of expert on the topic, either, so maybe both of us are working out our ideas in terms of what could play out.  

Yet, in any event, I am still struggling with any kind of assumption that bitcoin miners would want to play that game when they likely do not have to.    Yeah, sure we have seen some virtual signaling from some miners from time to time including the one recently that asserted that it was OFAC compliant - to the extent that it is even possible to make such assertion and not to suffer some repercussions in bitcoinlandia...

But sure, there are all kinds of things that governments like and will likely attempt to push onto bitcoin, but they still might have a lot of challenges to get them into bitcoin's practices, procedures and decentralized incentives systems, and I am not even claiming that we can detach ourselves from various traditional banking rules  (not yet anyhow) so yeah, there might even be BIGGER battles in the future - and even though the environmental battle seems to currently working, it does not seem to be one that is going to play out well in terms of the truth of the matter asserted or even any kind of meaningful abilities to impose such bullshit on bitcoin because like I already said, bitcoin seems way the fuck more energy efficient than other systems, and sure some shitcoins like ethereum may want to proclaim that they are more energy friendly, but who fucking cares.. ethereum is just made up shit, anyhow, even assuming that they move to an even more made up system that they proclaim to be better than proof of work (referring to the proof of stake pump and dump shenanigans scam of course).

This is probably out of place in the WO thread (might feel unprofessional for those who like to stay emotionally detached from their commodities).

Bitcoin is the future regardless if it is valued at USD $1 or $100,000. This is a fully developed world wide system which allows anyone to have a wallet, to be their own bank with access to every transaction ever made, stored securely in an immutable blockchain, and completely independent from any banking or regulation system.

Personally I want to support Bitcoin as a system, this is a once in a lifetime opportunity, owning BTC is part of that. For those of you who are too daft to see the potential, or too shortsighted due to greed in their speculation schemes, then by all means sell now.

Bitcoin is a major invention; what the printing press did by spreading the written word, what the internet did to connect all of us, this is the technology to replace our banks and currencies eventually. In the meantime there will be a lot of friction from powerful people, especially from those involved in our old financial institutions, it's been a battle since Bitcoin started in 2009.

I don't see anything wrong or out of place by such a statement... and maybe part of the key of your point is that some of these matters take a while.. and I would also like to say that bitcoin is successful as fuck, like you seem to suggest, even if its price is quite low (such as $1), but I really doubt that it's price is going to be going to such low levels, even if all of the governments were to make it illegal (which is hardly a game theory that anyone with even half a brain should expect to even be within reasonable possibilities - even long shot possibilities).