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

[ChartBuddy]

Explanation

[suchmoon]

Surely I would not really know this, and sometimes the miners themselves might want to put out disinformation in order to keep out competition.
I see all kinds of numbers on how much it costs to mine a bitcoin, and sure I recognize that some sources are likely more credible than others.  The more that you are involved in mining the more you might care about this, but also sometimes folks spout out theories of expected BTC price movement based on mining costs, too, and surely I take some of that with a grain of salt too and appreciate that peeps going to have differing perspectives about what causes what, and probably many of us appreciate that it is not exactly a one way street.. and even some miners might purposefully mine at a loss for a considerable amount of time to attempt to flush out competition too.

It's a fairly simple supply/demand equation, albeit slightly complicated by BTC volatility and the correlated risks. If it's very profitable to mine, the difficulty will rise until it's not, so the window of opportunity - especially for a smaller miner who doesn't benefit from high volume electric rates etc - is quite small. If this has any effect on price (which I doubt considering mining volumes and trading volumes) then it's likely a drag in bear season (miners need to sell more coins to pay the bills) and less selling pressure in bull season (miners can afford to hodl), so basically mildly negative.

Anyway, my point is that if someone wanted to use renewables, even at a loss for all I care, they could already do it, so all these tweets and meetings and shit do nothing for the environment, nothing for Bitcoin, maybe some new trolling material for Elon and a few pointless jobs for some college dropouts to create a Powerpoint on "transparency".

[Biodom]

the nice part of the rally is still ahead of us, and we still have a juicy 10x to go. 10x from here means around 380K.

Whoaza!!!!  10x from here.  Is that guaranteed or confirmed or anything like that?

Exactamundo.
Bullishness confirmed 100%.
This is more than twice the level of my bet with Proudhon.

What's the catalyst? Months later-maybe, but for now we will be working off the bearishness., unless SEC suddenly approves an ETF.
This one is one of the possibilities with prior trajectories side-by-side:

https://www.tradingview.com/chart/BTCUSD/yJclwbVf-BITCOIN-Convergence-Divergence-of-cycles-shows-we-are-on-track/

[JayJuanGee]

the nice part of the rally is still ahead of us, and we still have a juicy 10x to go. 10x from here means around 380K.

Whoaza!!!!  10x from here.  Is that guaranteed or confirmed or anything like that?

Exactamundo.
Bullishness confirmed 100%.
This is more than twice the level of my bet with Proudhon.

You mean proudhon is going to give you a gift?  it's a one way bet, right?.. proudhon promised to give a gift at a certain point if BTC does not reach a certain price point, and would that be the end of 2021 or a different timeline?  I cannot recall... and surely, nice if you have a 2x cushion in there, too.

[Toxic2040]

1h



4h

[ChartBuddy]

Explanation

[luckygenough56]

To whom it may concern...!

"bitcoin can save us from hyperinflation and starvation"

you guys never stop to amaze me. Dumbest shit i've ever read so far. But i still think you can do better and amaze 10x more. Like the future price of bitcoin. You know at 300k when it won't be able to handle its success, fees and tx/s

you guys really think bitcoin will change the balance of power in this world, the people who own the most bitcoins are the same who own the most fiat, except for those lucky ducks who bought in early and hold. The only thing it will change is you'll become a rich old fuck when you will sell your coins for evil fiat (because you won't be able to buy shit with bitcoins in your lifetime) and still embrace the materialistic consumerist society, whose only aspirations from what i read is slapping models on a yacht and buyin lambos  

And you seem all so concerned about inflation, but it's like aging, it's a slow process that does not impact all that much in your short journey on this Earth haha.

Let's be real, all idealistic ideas are perverted eventually in this world, bitcoin will save nothing, it's just another casino.

[Sayeds56]

https://t.me/OfficiaLCryptoindia/8358

[OutOfMemory]

...The only thing it will change is you'll become a rich old fuck when you will sell your coins for evil fiat (because you won't be able to buy shit with bitcoins in your lifetime) and still embrace the materialistic consumerist society, whose only aspirations from what i read is slapping models on a yacht and buyin lambos  

Slapping models? ...Lambos? ...Yachts?!
You sure mean a different thread...
We here are all about humping cows on the golf course of a bigass ranch in the middle of Nowhere, Texas.

Wait, are you one of those future-kids?

[ChartBuddy]

Explanation

[Farmer Bill]

To whom it may concern...!

"bitcoin can save us from hyperinflation and starvation"

you guys never stop to amaze me. Dumbest shit i've ever read so far. But i still think you can do better and amaze 10x more. Like the future price of bitcoin. You know at 300k when it won't be able to handle its success, fees and tx/s

you guys really think bitcoin will change the balance of power in this world, the people who own the most bitcoins are the same who own the most fiat, except for those lucky ducks who bought in early and hold. The only thing it will change is you'll become a rich old fuck when you will sell your coins for evil fiat (because you won't be able to buy shit with bitcoins in your lifetime) and still embrace the materialistic consumerist society, whose only aspirations from what i read is slapping models on a yacht and buyin lambos 

And you seem all so concerned about inflation, but it's like aging, it's a slow process that does not impact all that much in your short journey on this Earth haha.

Let's be real, all idealistic ideas are perverted eventually in this world, bitcoin will save nothing, it's just anotherH casino.

Haven't you got some swimming in the cold sea or Kayaking to do.
I don't know where you get the time for your hobbies you spend so much time trolling here and elsewhere.

Let me guess, after all that successful trading, you got the one that wiped you out, joining the 99% who eventually fail.
Now you are so bitter a no-coiner you can't stand that some of the MF's posting here a multi millionaires.

Raja from Pakistan did a blinding trade the other day from $31.5k to $34k but kept a small amount of skin in the game, was that in fact you by any chance. Raja is a Hindu name and would be unlikely to live in 99% Muslim Pakistan where they are not very tolerant towards non Muslims.

Weird guy, but I like the humor in your posts, I always get a good laugh!

Now down to serious business, beer and dinner.

[marcus_of_augustus]

To whom it may concern...!

"bitcoin can save us from hyperinflation and starvation"

And you seem all so concerned about inflation, but it's like aging, it's a slow process that does not impact all that much in your short journey on this Earth haha.

Let's be real, all idealistic ideas are perverted eventually in this world, bitcoin will save nothing, it's just another casino.

... so you're a cynical old pervet who believes the world can never change? ... kind of got that early on

... but you're totally wrong about inflation, especially hyperinflation, it absolutely ruins lives and leads to starvation and massive human suffering, so yeah keep supporting that to your eternal fire ... I wish my parents had me put my savings in gold (bitcoin wasn't around) when I was a kid

[JayJuanGee]

Surely I would not really know this, and sometimes the miners themselves might want to put out disinformation in order to keep out competition.
I see all kinds of numbers on how much it costs to mine a bitcoin, and sure I recognize that some sources are likely more credible than others.  The more that you are involved in mining the more you might care about this, but also sometimes folks spout out theories of expected BTC price movement based on mining costs, too, and surely I take some of that with a grain of salt too and appreciate that peeps going to have differing perspectives about what causes what, and probably many of us appreciate that it is not exactly a one way street.. and even some miners might purposefully mine at a loss for a considerable amount of time to attempt to flush out competition too.

It's a fairly simple supply/demand equation, albeit slightly complicated by BTC volatility and the correlated risks.

Seems to me that you are complaining (if we want to call it that) about the interference of the natural ways of the free market which would more likely just follow a supply and demand curve.  So if there are guys meeting in private meeting and wanting to either collude in terms of stating industrial preferences and sure maybe Elon is wanting to look "green" in order to get subsidies, which is not exactly either free market or following where supply and demand might more naturally take incentives.

By the way, don't get me wrong because necessarily anti-government or of the belief that free market is going to take care of all problems - even though I understand that bitcoin likely has built in incentives that would likely both cause efficiencies or the searching of energy sources that are under utilized with a presumption that those under utilized energy sources would be cheaper to allow them more profits relative to their competition.

If it's very profitable to mine, the difficulty will rise until it's not, so the window of opportunity - especially for a smaller miner who doesn't benefit from high volume electric rates etc - is quite small. If this has any effect on price (which I doubt considering mining volumes and trading volumes) then it's likely a drag in bear season (miners need to sell more coins to pay the bills) and less selling pressure in bull season (miners can afford to hodl), so basically mildly negative.

There is no need for me to argue with any of this - even though some miners are going to have stronger abilities to hold for longer periods than others, either economies of scale or maybe they have found some other efficiencies that other miners might not have been able to achieve.  Also mismanagement or even superior management could cause efficiencies or lack thereof.

Anyway, my point is that if someone wanted to use renewables, even at a loss for all I care, they could already do it, so all these tweets and meetings and shit do nothing for the environment, nothing for Bitcoin, maybe some new trolling material for Elon and a few pointless jobs for some college dropouts to create a Powerpoint on "transparency".

Whether meetings are beneficial or not to the players might be one thing and whether the meetings do anything might be a related thing, so if there is an ability to create an image, that could still be doing something for the participant(s) even if it might not do anything material and substantive for the environment, except create an appearance of doing something. 

I doubt that you (suchmoon) and I are very far apart on these questions, even though we are framing some of the ways of talking about it differently.

[savetherainforest]

Seems to me that you are complaining [...]

Motherf^cker... it seems you want to be the president of the WO !!!      

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[Toxic2040]

the evening wall report

basically..
big things coming...not convinced we are there yet however
still would like to see what the first few weeks of June brings before committing to anything rash


#dyor


hourly looks pretty fun on the micro scale
some liquidity there..kitteh might want to nibble on that old dogs ear
other than that..
steady as she goes

1h


squeezing into June
4h


moar daily consolidation required possibly
D

#stronghands

[JayJuanGee]

Seems to me that you are complaining [...]

Motherf^cker... it seems you want to be the president of the WO !!!      

Ok. here goes:


Elon and Michael sitting in a tree,
 
G – R - E - E – I – N - G.

First comes buying,

Then comes complying,

Then comes the inclusion of another three miners that is.**





Let’s just get @ sirazimuth to present this in his pre-singing lessons voice.    - since he now cannot afford, singing lessons - nor a writer.

 


ok .. ok... I admit it.. I am a budding wannabe poet on the side too.


**note:  An artistic kickback from the "Beverly Hill Billies," theme song.

[ChartBuddy]

Explanation

[suchmoon]

Seems to me that you are complaining (if we want to call it that) about the interference of the natural ways of the free market which would more likely just follow a supply and demand curve.  So if there are guys meeting in private meeting and wanting to either collude in terms of stating industrial preferences and sure maybe Elon is wanting to look "green" in order to get subsidies, which is not exactly either free market or following where supply and demand might more naturally take incentives.

I wouldn't say I'm complaining, it doesn't really affect me in any significant way.

I'm quite certain any such green schemes simply won't work but Elon is welcome to fork Bitcoin into proof-of-tweet if he's not happy about mining.