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

[somac.]

Back In HODLsleep for a few more ...

I hope things look better on your return.

[ErisDiscordia]

So...Musk tweet is like the Silk Road bust of 2013?

OGs know what I'm talking about...

I like this analogy. I feel like reminiscing.

It's October 2013 and Bitcoin died again. This time from 266$ down to 50$ and now hovering around 100$.

There was a poster here in the WO who kept going on and on with the tired narrative of how Bitcoin has value only because of darknet markets like Silk Road. Paid troll? Deluded nocoiner? Trader spreading FUD? Who knows. But it was a common sentiment and not easily disproven at the time. What else could you buy with BTC? Alpaca socks, maybe a VPN, some gambling and some food in one of the perhaps dozen establishments around the world run by Bitcoiner owners. Without Silk Road, there was no point in having Bitcoin.

Then the news hits: Ross Ulbricht, the founder of Silk Road, has been arrested. Hundreds of thousands of BTC seized by the US gov. Instant flash crash in BTC price. Surely, this was going to be the end...

...except it wasn't. The price rebounded from its almost 40% crash - within 2-3 days it was hovering around the 100$ mark again. Just like that, the narrative of "Bitcoin has only value because of drugs" was relegated to the dustbin of history. Many more narratives would emerge to challenge Bitcoin over the years. It's too volatile. Governments will ban it. It's blockchain, not Bitcoin. But what about muh environment? What if daddy rich guy Musk doesn't like Bitcoin anymore? Many, many more - they tend to blend into incoherent noise after some time.

Within a few weeks of the Silk Road flash crash Bitcoin hit 1000$ and the world started going properly nuts over Bitcoin for the first time. It had proven its anti-fragility because that's what the Honey Badger does. We also know what it doesn't do: give a shit.

Daddy Elon will eventually learn as well. That all the money and narcissistic energy in the world won't help you control Bitcoin. And we will look back on the Elon dump as we do on the Silk Road crash. As the signal for having defeated yet another hostile narrative.

[Richy_T]

why ? Martha Stewart was a licensed broker with inside info in a regulated stock exchange that she was licensed to broker trades.

She also didn't go down for insider trading.

[dre1982]

Seriously this guy needs to stop tweeting



Can we close his twitter account if people start reporting.

I think he is doing the same at the moment with DOGE. Just making a hype of it and at the end he will dump all his DOGE and made huge profit.

[OutOfMemory]

What a nice weekend that was  

Who the fuck is Elon  
A core dev? A crypto dev? A clueless twatter clown?

This is Idiocracy all over again. Trump was a symptom, Musk is another symptom...
Can you, can i, can we change what is happening right now?
No.
So just sit back, relax and BTFD.
I bought the top, which will be topped again and again and again...

EDIT: Look, Mum! It's going up again! 

[JayJuanGee]

Any guesses when this stops. I think a 38% decline in the 2017 run was the biggest pullback, it would have to go below 39k to exceed that.

I have heard that kind of nonsense previously - attempting to put limitations on how far that a dip can reasonably go before taking us out of a bull run.

Sounds like selectively choosing information bullshit to me, including the fact that we likely started this particular bullrun in April 2019, and we already had at least a couple of greater than 50% pullbacks.. seems to me that even a 60% pullback would not necessarily pull us out of this bull run.. so 60%--ish is surely within reason... to really purge some froth and shake some whiners... which would put us at around $26k.

Of course, for me, it seems that 60% would be a bit of a stretch - meaning NOT too likely, but there has been plenty of other NOT too likely price movements in bitcoin landia... through the years, and the mere fact that we have not had any real and meaningful shake out successes since August/September (around that last test of $10k), seems that there is potential fore quite a few purgenings of froth and shakening of whiners.

Wish I knew if it would get there or not, but there is a lot of panic out there right now so I have no idea. The real question is have institutions soured on investing in BTC? I guess we won't know that for a few weeks.

We are not going to necessarily know what others are doing - even though we will hear a lot of bullshit, yet a more important question would be what we are going to do?  If we already ran out of money to buy, then do we sell to get more money or do we just HODL.  Peeps going to come to differing conclusions regarding that because buying on the dip sounds all great in theory, but if you thought that 30% was going to be the max dip (and I heard a lot of that nonsense), then you are left with a wee bit of a dilemma whether to HODL or to take some other kinds of actions.. such as crying like a little girl.    

If we are going into a drawn out bear market, I must say it sucks to have one so soon.

Sure it is possible, but seems to me, way too early to proclaim that, even if we were to get down to 60% correction.

I still think that we will get some more strength towards the end of the year because nothing has actually changed, governments and CBs are still doing what they do best and they can't stop now.

Well at least you got that part right.

HODL!!

Or buy.

EDIT: perhaps we should update the poll to a price related one.

That sounds topical to current happenings...not that public opinion is going to really tell you what is going to happen beyond what peeps believe is going to happen.. which has a decent amount of history of being wwwwwrrrrroooooonnnnnnnggggg.

Exactly what I was just looking at

see https://data.bitcoinity.org/markets/books/USD

good time for chart buddy's return I might add

Your post prompted me to do it.

Unfortunately, I don't know if ChartBuddy will be able to come back. When I was logging in for that, I was reminded that there is an anti-bot Captcha on login. I  can't see any easy way around that.

When I log into the forum newly or from a new location, there is a anti-bot captcha, but once I get passed the captcha, I tend to be able to stay logged in for a pretty damned long periods of time without being reprompted with the anti-bot captcha.. even on my phone... In other words, doesn't getting past the anti-bot captcha manually resolve the issue and chartbuddy just would stay online and post once an hour or so.. or if you believe that posting every hour (like it did previously) is too frequently, then it could post at another more comfortable interval (every 3 hours, reasonable?). but might end up missing some happenings.. and not really sure how much members would appreciate having that data embedded around their posts..

Again, do not recall coming across any meaningful objections to chartbuddy except from one member.

Asks starting to fill up a bit

I think some really interesting data could be gathered from analyzing the book like especially whether walls are being bought or moved. Probably some inferences could be made about the players too.

That may well be a justification for keeping chartbuddy hourly..

And fuck twitter...    but of course, you do what you like anyhow.   

[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.

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).

No, I don't believe BTC will go that low either. The "out of place" part was about protecting what you like even when it goes against speculation strategies, holding is a tactic, especially during Bitcoin smear campaigns.

[fillippone]

https://twitter.com/fillippone1/status/1394029185807552519?s=21

Phew!


https://twitter.com/elonmusk/status/1394170030741413888?s=21

[El duderino_]

To clarify... the Dude neither

[becoin]

Thank you for the cheap coins, Elon. Good job! Keep it up!

[AlcoHoDL]

So last night I'm in the home cinema room watching a movie and I open a bag of Jack Link's Beef Jerky to eat while watching. First time to try it, it's an American thing, not found where I live, had to specially order it. Room was dark, saw a little bag inside it, and thought it was some kind of seasoning (maybe salt or pepper). So I open the little bag and spread the contents over the pieces of meat. I ate everything, it was delicious. Guess what: this morning I realised that the little bag said DO NOT EAT outside it. Fcuk! It was something called "oxygen absorber", supposedly to keep the meat fresh. Lesson learned: always read the label before you eat (do) something. I'm still alive (for now)!

As for Elon, I think he has sold already. It doesn't make sense to HoDL and act the way he did (and still does). Maybe the earlier dip we had before the recent bigger one was him selling? Anyways, I'm not so good at this sort of thing, it makes Bitcoin seem like stocks and shares, which I absolutely hate. Of course, I haven't sold a sat, and even thinking of BTFD. In any case, Elon will soon be forgotten, and Bitcoin will resume its upward trend again, as it has done so many times before. Silk Road, MtGox, forkenings, China bans, ETF rejections, mempool spamming, CSW/Ayre/Wu/Ver attacks, you name it, Bitcoin has always chewed them up and spat them out, and so it will do to Elon.

Let's wait until this thing settles. Maybe there are things at play we don't yet know...

[somac.]

https://twitter.com/fillippone1/status/1394029185807552519?s=21

Phew!


https://twitter.com/elonmusk/status/1394170030741413888?s=21

Oh that sucks. Of course, the guy is a pathological liar so I don't beleive him.

Last thing that anyone should want is for Musk or Tesla to own any Bitcoin.

[somac.]

So last night I'm at the home cinema room watching a movie and I open a bag of Jack Link's Beef Jerky to eat while watching. First time to try it, it's an American thing, not found where I live, had to specially order it. Room was dark, saw a little bag inside it, and thought it was some kind of seasoning (maybe salt of pepper). So I open the little bag and spread the contents over the pieces of meat. I ate everything, it was delicious. Guess what: this morning I realised that the little bag said DO NOT EAT outside it. Fcuk! It was something called "oxygen absorber", supposedly to keep the meat fresh. Lesson learned: always read the label before you eat (do) something. I'm still alive (for now)!

Let's wait until this thing settles. Maybe there are things at play we don't yet know...

Damn! that's a scary story. Might be best to check the SDS for the chemical and see what it says for accidental ingestion.

[shahzadafzal]

https://twitter.com/fillippone1/status/1394029185807552519?s=21

Phew!


https://twitter.com/elonmusk/status/1394170030741413888?s=21

It worked... it worked... keep aiming...!!!

[AlcoHoDL]

So last night I'm at the home cinema room watching a movie and I open a bag of Jack Link's Beef Jerky to eat while watching. First time to try it, it's an American thing, not found where I live, had to specially order it. Room was dark, saw a little bag inside it, and thought it was some kind of seasoning (maybe salt of pepper). So I open the little bag and spread the contents over the pieces of meat. I ate everything, it was delicious. Guess what: this morning I realised that the little bag said DO NOT EAT outside it. Fcuk! It was something called "oxygen absorber", supposedly to keep the meat fresh. Lesson learned: always read the label before you eat (do) something. I'm still alive (for now)!

Let's wait until this thing settles. Maybe there are things at play we don't yet know...

Damn! that's a scary story. Might be best to check the SDS for the chemical and see what it says for accidental ingestion.

I checked, and fortunately it seems that you need to eat many such sachets to be poisoned. The contents are something like iron powder that's supposed to suck oxygen by "rusting" inside the little bag. Damn, I think I involuntarily had a taste of Bob's "rusty pipe" treatment...

#nohomo

[Searing]

https://twitter.com/fillippone1/status/1394029185807552519?s=21

Phew!


https://twitter.com/elonmusk/status/1394170030741413888?s=21

Oh that sucks. Of course, the guy is a pathological liar so I don't beleive him.

Last thing that anyone should want is for Musk or Tesla to own any Bitcoin.

the point of the 1.5 billion in BTC (probably back to 1.5 billion now with his antics) was instead of cash to have a reserve for stuff to help the company...from what i think i read...

rather than cash laying about...so BTC may have fulfilled its purpose by adding say $1 billion USD if he sold it today to the company coffers.....which he can then use to prop

up is Tesla stock by promoting the profit and the dump as being 'evil genius' ...hell then buy it back from his own stash he says he owns...he can do this as long as people

are dumb enough to play this game. The problem with corporate $$$ in bitcoin is 1) sometimes big bucks and 2) they dump for a quick profit on the FUD....hey, no loss

right you showed a profit and got out..good for the bonus...so anyway...I suspect he will now move on to dogecoin and revive the GitHub site with some devs and some $$$

and pull the same stunt with the 'revived' dogecoin and pull the same stunt...what the heck...(Tesla: Where Evil Never Rests) (tm Tesla)

[Parazyd]

Meanwhile USDT at $1.05

[Oshosondy]

https://twitter.com/elonmusk/status/1394170030741413888?s=21

We should not care about what this man is saying, the fear he created causing people to sell is far more than the Tesla Bitcoin holding. He is more after Doge, very possible the reason he want Tesla to move to a coin that uses less than 1% of bitcoin mining energy consumption. The man is only manipulating.

[BitcoinBunny]

So last night I'm at the home cinema room watching a movie and I open a bag of Jack Link's Beef Jerky to eat while watching. First time to try it, it's an American thing, not found where I live, had to specially order it. Room was dark, saw a little bag inside it, and thought it was some kind of seasoning (maybe salt of pepper). So I open the little bag and spread the contents over the pieces of meat. I ate everything, it was delicious. Guess what: this morning I realised that the little bag said DO NOT EAT outside it. Fcuk! It was something called "oxygen absorber", supposedly to keep the meat fresh. Lesson learned: always read the label before you eat (do) something. I'm still alive (for now)!

As for Elon, I think he has sold already. It doesn't make sense to HoDL and act the way he did (and still does). Maybe the earlier dip we had before the recent bigger one was him selling? Anyways, I'm not so good at this sort of thing, it makes Bitcoin seem like stocks and shares, which I absolutely hate. Of course, I haven't sold a sat, and even thinking of BTFD. In any case, Elon will soon be forgotten, and Bitcoin will resume its upward trend again, as it has done so many times before. Silk Road, MtGox, forkenings, China bans, ETF rejections, mempool spamming, CSW/Ayre/Wu/Ver attacks, you name it, Bitcoin has always chewed them up and spat them out, and so it will do to Elon.

Let's wait until this thing settles. Maybe there are things at play we don't yet know...

As someone who likes the stuff and the South African version Biltong I find this quite funny to read. You'll live.
From Google:

What is the do not eat packet in beef jerky?
According to Slate, silica gel is “an inert, nontoxic substance that’s essentially harmless. … So if you accidentally eat some of the silica gel in the beef jerky packet (or if your kid does), don’t worry. It’s completely harmless.

Maybe stick with popcorn or crisps next time.  

My living room in essence is a cinema room btw. 5.1 setup with Epson projector and a 110 inch screen. It's not a very wide room so can't go bigger really. The biggest improvement turning it into a cinema room, I found was, when I painted the walls grey to minimise reflection. The ceiling is still white so it's not too boxy looking and still a pleasant room to be in when the curtains are open.

Sometimes I do have my dinner in there but will usually leave a corner lamp on whilst doing that. Once finished eating it goes off.

[somac.]

So last night I'm at the home cinema room watching a movie and I open a bag of Jack Link's Beef Jerky to eat while watching. First time to try it, it's an American thing, not found where I live, had to specially order it. Room was dark, saw a little bag inside it, and thought it was some kind of seasoning (maybe salt of pepper). So I open the little bag and spread the contents over the pieces of meat. I ate everything, it was delicious. Guess what: this morning I realised that the little bag said DO NOT EAT outside it. Fcuk! It was something called "oxygen absorber", supposedly to keep the meat fresh. Lesson learned: always read the label before you eat (do) something. I'm still alive (for now)!

As for Elon, I think he has sold already. It doesn't make sense to HoDL and act the way he did (and still does). Maybe the earlier dip we had before the recent bigger one was him selling? Anyways, I'm not so good at this sort of thing, it makes Bitcoin seem like stocks and shares, which I absolutely hate. Of course, I haven't sold a sat, and even thinking of BTFD. In any case, Elon will soon be forgotten, and Bitcoin will resume its upward trend again, as it has done so many times before. Silk Road, MtGox, forkenings, China bans, ETF rejections, mempool spamming, CSW/Ayre/Wu/Ver attacks, you name it, Bitcoin has always chewed them up and spat them out, and so it will do to Elon.

Let's wait until this thing settles. Maybe there are things at play we don't yet know...

As someone who likes the stuff and the South African version Biltong I find this quite funny to read. You'll live.
From Google:

What is the do not eat packet in beef jerky?
According to Slate, silica gel is “an inert, nontoxic substance that’s essentially harmless. … So if you accidentally eat some of the silica gel in the beef jerky packet (or if your kid does), don’t worry. It’s completely harmless.

Maybe stick with popcorn or crisps next time.  

My living room in essence is a cinema room btw. 5.1 setup with Epson projector and a 110 inch screen. It's not a very wide room so can't go bigger really.
Sometimes I do have my dinner in there but will usually leave a corner lamp on whilst doing that. Once finished eating it goes off.

Pretty sure that is not true, I beleive silca gel is carcinogenic, at least I was told that once.

However, he said oxygen absorber, which is not silca gel. Silca gel is for absorbing moisture. So it may be nothing, or may be something, in such small doses I'd say nothing.

Edit: just check the SDS for silca gel, NOT carcinogenic, so that's good. Still don't know what the hell oxygen absorber is though. Most likely no problem.