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

[Sayeds56]

Don't despair amid the inevitable setbacks that all investors face, especially during a crisis in the market. If the reasoning behind the investment was sound, stick with it, and it should eventually turn around.




https://www.investopedia.com/financial-edge/0511/the-top-17-investing-quotes-of-all-time.aspx

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[ChartBuddy]

Explanation

[machasm]

We're eating into the mempool, 1 sat transactions going through now.

I imagine that by the end of the day the mempool will be empty once again.
Heres hoping that Monday will start things off going in the right direction. Up!

[ChartBuddy]

Explanation

[OutOfMemory]

I just got back from seeing a friend. He's been in and out of Bitcoin since 2017 (lost money of course). Did the usual what about these shitcoins thing, which I dismissed as well as I could. Anyway he said he has been trying to withdraw as much equity from his home as he can for the last several weeks. Should get it in a week or 2. He then says he was going to buy bitcoin with it when it was in the 50s and now he's really glad that it fell because he's going to be able to buy much more.

He agreed with me that holding was the way, lessons from past sales learnt.

Foolish, I will say though that if you are in your 20's go for it lol... you can recover from losses in your early years and learn a lesson, not in your later years (50 +)

someone bought at $60k +, wonder how they are feeling right now

My wife bought at $60k+ 
She's feeling fine, because i taught her not to look at the chart for quite a while after buying. Regardless, she's #hodling so she won't care shit about this correction some years later.
Half of my buys turned to "losses" afterwards, in the long run every buy turned into a gain. This will continue as long as i hodl and the absolute top was not in yet.
Sure, i feel regretful when Bitcoin price is falling, every time. But it's because i think Bitcoin is much more worth than that and it should only go up (which it does, in the long run).

[ChartBuddy]

Explanation

[bitebits]

This game is too easy:

76.7% of BTC supply is illiquid. (in strong-hands) This trends up only over time.

At the same time, demand for BTC (new users) is growing exponentially.

Bitcoin price only has one way to go in the long term.

https://twitter.com/wclementeiii/status/1398791165110009857

[shahzadafzal]

Let's win the race...!!!

Dear #Bitcoin ,

Today, we make history.

Today, @ECRIndy is proud to race for human freedom, financial inclusivity, savings technology, and Bitcoin open-source development.

#Bitcoin  is the hardest money mankind has ever conceived.

There is nothing more I'd rather suit up for.

https://twitter.com/edcarpenter20/status/1398984563267981312?s=21

[xhomerx10]

Update on the Binance card

I just got cashback from my ATM withdrawals, so apparently it doesn't register as an ATM withdrawal but rather a purchase.
That's nice to know.

 I wonder if they consider it a purchase since you don't have SEK on deposit, rather bitcoin.  So you are actually purchasing SEK with BTC or worse, purchasing EUR from BTC and then SEK with EUR.  Would you mind discussing the fees you paid?  I'm wondering how much this convenience costs.


edit:

Update on the update, the cashback from my ATM withdrawals were just reversed, so they do know.

 After all these years, I still haven't learned to read the entire thread before replying!  Old dog, new tricks etc...


edit2: It suddenly dawned on me that I did it again with the edit.  Okay, okay... I'm reading through to the end now before replying to anything else.

[vapourminer]

Speaking about visible debauchery, since I got my 4th covid shot (better be safer than sorry),

same vaccine across all 4? which vaccine? and how far apart were to doses?

of course feel free to ignore all that and not answer (its your business after all) but im curious.

[shahzadafzal]

Sorry of Bitcoin trading 10/10
https://twitter.com/cryptanzee/status/1398811346209173504?s=21

[ChartBuddy]

Explanation

[xhomerx10]

HOPIUM (Wyckoff).

regarding my theory that crawler (whoever it is) are scanning this thread ongoing. after I posted the pic I had immediately 14 viewers of the pic on imgur.  

lurkers? /s

 Some technical types are running bots or using a service, to check if their names are mentioned or their posts are quoted, which will then notify them via PM or Telegram.

 Isn't that right LoyceV, sheenshane, suchmoon, fillippone et tu JayJuanGee?

[Richy_T]

... the Metcalfe's law concept for the value of a monetary network reflected as bitcoin price in fiat that is related to the number of transactions or number of wallets is definitely interesting, and has worked well for Bitcoin in the early days when the network was small but growing exponentially fast.

... now I'm wondering if it Metcalfe needs to be tweaked to include a weighting to the value of transactions on the network, or value in wallets, rather simple numerical quantity of TX or wallets? The value of the phone network clearly increases as the number of users adopt the network but each user can make more or less or longer or shorter calls and doesn't really affect the total value of the network. Bitcoin is somewhat more like the electricity grid network where the size of the user, or generator, that connects to the network would have a bearing on the total value of the network different from simply number of users. E.g. if a large utility, or aluminum smelter, decided to abandon the electricity network that clearly has a bigger impact on total value of the network that some random Joe that goes off-grid but each represent a single user on the network.

I always thought that Metcalfe was a bit of a simplification. Clearly, connections have different weightings, some potentially negative. The same overall square law applies but this introduces several nuances. More users has meant an increase in connections but restricted transactions (without a fully functioning second layer) and hence increased friction has reduced the value of many/most of those connections. This is, apparently, an acceptable tradeoff for being able to run a full Bitcoin node on a smartphone from 2012.

[LFC_Bitcoin]

Spotted this in another thread (check the date first).

No wonder he’s so depressed & anti bitcoin  
He should be a billionaire with that kind date of adoption. Is proudhon trolling us or is he perma haunted by the biggest mistake of his life (selling far too early?).

Pffffff, I'm selling and recovering initial investments before the big crash.

[proudhon]

Spotted this in another thread (check the date first).

No wonder he’s so depressed & anti bitcoin  
He should be a billionaire with that kind date of adoption. Is proudhon trolling us or is he perma haunted by the biggest mistake of his life (selling far too early?).

Pffffff, I'm selling and recovering initial investments before the big crash.

I saved myself 10 years of stress by going all in on far, far, FAR more secure fiat money in a low yield savings account.

[cygan]

today played a small round of scrabble


https://twitter.com/binance/status/1398897070656868353

[ivomm]

Where is the promised Sunday dip below 30K? Some twitter accounts promised it this week? What happened, is it late or is it canceled?


#nevertrusttwitterandproudhon

[shahzadafzal]

Spotted this in another thread (check the date first).

No wonder he’s so depressed & anti bitcoin 
He should be a billionaire with that kind date of adoption. Is proudhon trolling us or is he perma haunted by the biggest mistake of his life (selling far too early?).

Pffffff, I'm selling and recovering initial investments before the big crash.

I saved myself 10 years of stress by going all in on far, far, FAR more secure fiat money in a low yield savings account.

That's 10 years of consistency I would say... Bravo!!!

[ChartBuddy]

Explanation