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

[Arriemoller]

The great philosopher Mr. Nietzsche said:

Real men desire two different things: danger and games.

If there are only 21 million women in this world,
Then the right side of this dialog box may be Bitcoin.

I can hardly imagine that when a normal man loses interest in a woman, I can say with certainty that there is nothing for this man to be unsuccessful. If not, it is that this woman is too ignorant to invest in herself (beauty, stay young) or find a way to grab the man's stomach.

Women grab my stomach all the time, and ask me if it isn't time to lose some weight.

[Arriemoller]

Now it seems that we have broken resistance and that we are going to 50K in the blink of an eye.

$46,325.22 on bitstamp.

Waiting for trolldhon and his theories.

Theories??? It's math and science pal. That ain't no theory.

Since when did math and data science not include statistical theories?
One theory is the amount of short positions are still over leveraged last I checked (with $2 billion open positions). The bears are refusing to exit their losing positions, instead are holding onto their shorts Bitcoin as it rises and finds support above the 200 Day MA
What happens theoretically when these positions get liquidated is they have to buy back into Bitcoin. This is how the $50-60K "blink of an eye" can occur. All theory obviously, but 35% shorts vs longs in a bull market is still over leveraged imo.
Remember when price crashed 30% in a day? The market was over leveraged long, the bulls got liquidated. Some theorized this would happen, I ignored it. I won't ignore this scenario in the opposite direction. That would be naive.
Ideally everyone exists their losing positions before liquidation, or at least at different prices. But they don't, and they never learn.

Yes, but the Llama gets everything confirmed in the WO thread, that overrides everything.

[ChartBuddy]

Explanation

[somac.]

Now it seems that we have broken resistance and that we are going to 50K in the blink of an eye.

$46,325.22 on bitstamp.

Waiting for trolldhon and his theories.

Theories??? It's math and science pal. That ain't no theory.

Since when did math and data science not include statistical theories?
One theory is the amount of short positions are still over leveraged last I checked (with $2 billion open positions). The bears are refusing to exit their losing positions, instead are holding onto their shorts Bitcoin as it rises and finds support above the 200 Day MA
What happens theoretically when these positions get liquidated is they have to buy back into Bitcoin. This is how the $50-60K "blink of an eye" can occur. All theory obviously, but 35% shorts vs longs in a bull market is still over leveraged imo.
Remember when price crashed 30% in a day? The market was over leveraged long, the bulls got liquidated. Some theorized this would happen, I ignored it. I won't ignore this scenario in the opposite direction. That would be naive.
Ideally everyone exists their losing positions before liquidation, or at least at different prices. But they don't, and they never learn.

It was just a joke, its what proudhon always says.

[Arriemoller]

Now it seems that we have broken resistance and that we are going to 50K in the blink of an eye.

$46,325.22 on bitstamp.

Waiting for trolldhon and his theories.

Theories??? It's math and science pal. That ain't no theory.

Since when did math and data science not include statistical theories?
One theory is the amount of short positions are still over leveraged last I checked (with $2 billion open positions). The bears are refusing to exit their losing positions, instead are holding onto their shorts Bitcoin as it rises and finds support above the 200 Day MA
What happens theoretically when these positions get liquidated is they have to buy back into Bitcoin. This is how the $50-60K "blink of an eye" can occur. All theory obviously, but 35% shorts vs longs in a bull market is still over leveraged imo.
Remember when price crashed 30% in a day? The market was over leveraged long, the bulls got liquidated. Some theorized this would happen, I ignored it. I won't ignore this scenario in the opposite direction. That would be naive.
Ideally everyone exists their losing positions before liquidation, or at least at different prices. But they don't, and they never learn.

Yes, but the Llama gets everything confirmed in the WO thread, that overrides everything.

Just to clarify, this is also a joke.

[Dabs]

As for me, I prefer my books in PDF format, or anything that I can easily convert into PDF, as I can then save that forever and read it offline, and nothing will change that too. I understand some tech or movement is out there to just use plain .txt files or something.

PDF has some issues because it is a display/layout format and doesn't work well with some devices. It's not terrible though. epub and mobi are basically marked-up text which is designed for reflow and is fine as an archive format. PDF is preferable for some works which rely on layout so there are some competing aims there. FWIW, the PDF format was originally not open but it turned out their protection was incredibly weak. Plain text has a whole range of issues as a book format and is only really any good for the simplest of works.

Yeah, I understand this, it was like ... a bunch of things Adobe did that protection was weak, like all their previous generation software, particularly Photoshop (which is why everyone seems to have it, or it's always at the top of the list on the pirate bay.)

As for the PDF files themselves, I don't mind the free reader app, and Calibre works too, and I've gotten a whole bunch of them over the years, saved, offline. Books, some are obviously scanned and saved as a PDF instead of 300 jpegs. Others are actually decent texts that were created using Word or some other document word processor and saved/printed to PDF. I figure if I need a hard copy I can always print it, which is why I'm not too fond of epub and mobi. I've ended up converting them to PDF anyway.

[El duderino_]

[ChartBuddy]

Explanation

[bitcoinPsycho]

So called(self proclaimed)greatest democracy in the world 🌎 lol

[ChartBuddy]

Explanation

[Torque]

As for me, I prefer my books in PDF format, or anything that I can easily convert into PDF, as I can then save that forever and read it offline, and nothing will change that too. I understand some tech or movement is out there to just use plain .txt files or something.

PDF has some issues because it is a display/layout format and doesn't work well with some devices. It's not terrible though. epub and mobi are basically marked-up text which is designed for reflow and is fine as an archive format. PDF is preferable for some works which rely on layout so there are some competing aims there. FWIW, the PDF format was originally not open but it turned out their protection was incredibly weak. Plain text has a whole range of issues as a book format and is only really any good for the simplest of works.

Yeah, I understand this, it was like ... a bunch of things Adobe did that protection was weak, like all their previous generation software, particularly Photoshop (which is why everyone seems to have it, or it's always at the top of the list on the pirate bay.)

I still don't understand why most retail users are still using Adobe Photoshop. As a graphics designer I used it for the better part of a decade, but now GIMP does pretty much everything PS can do and more. And it's free. I switched over to GIMP years ago and never looked back.

And for pen drawing/painting, Krita is the bomb.

[gembitz]

As for me, I prefer my books in PDF format, or anything that I can easily convert into PDF, as I can then save that forever and read it offline, and nothing will change that too. I understand some tech or movement is out there to just use plain .txt files or something.

PDF has some issues because it is a display/layout format and doesn't work well with some devices. It's not terrible though. epub and mobi are basically marked-up text which is designed for reflow and is fine as an archive format. PDF is preferable for some works which rely on layout so there are some competing aims there. FWIW, the PDF format was originally not open but it turned out their protection was incredibly weak. Plain text has a whole range of issues as a book format and is only really any good for the simplest of works.

Yeah, I understand this, it was like ... a bunch of things Adobe did that protection was weak, like all their previous generation software, particularly Photoshop (which is why everyone seems to have it, or it's always at the top of the list on the pirate bay.)

I still don't understand why most retail users are still using Adobe Photoshop. As a graphics designer I used it for the better part of a decade, but now GIMP does pretty much everything PS can do and more. And it's free. I switched over to GIMP years ago and never looked back.

And for pen drawing/painting, Krita is the bomb.

you still babbling on about nfts? weeeee 50k punt streeet pikerzzz

[El duderino_]

In this thread I suggested that bitcoin is a powerful Schelling point, communicating quality & reliability, versus alts who host a lot more scammy projects, by comparing it to top level domain names:

1/ First try at drawing parallels between top level domainnames (TLDs) & cryptocurrencies. '17 Domaintools Report:  https://www.domaintools.com/content/The-DomainTools-Report-2017.pdf

2/ Market learns quickly, so scammers rotate into new TLDs quickly. Here are the TLDs ranked by # of blacklisted domainnames:



3/ Same in cryptocurrency space, where scams evolved from BTC ponzis, to "national coins", to "better mining" coins, to MLM coins, to ...

4/ Namespace is quite similar: 1,528 TLDs vs 1,119 cryptocurrencies in existence. en.wikipedia.org/wiki/List_of_c… coinmarketcap.com/all/views/all/



5/ The trust in .com names is justified: on a relative basis, 99.5% of .coms are likely bona fide — better than .org, .net, .info.



6/ IMO Bitcoin has relatively less scams associated with it than the rest of the top 10 cryptos. Lower gullibility, higher cost of business.

7/ Scams have a tendency to concentrate in certain namespaces. While fraud in quality TLDs is >1%, some others have 10%, 20%, +50%+ scams.



8/ Suspect same pattern in crypto—some brands r scam friendlier: premine (EZ revenue), PoS (perpetual income), ERC20 (fast deployment), ...

9/ DNS privacy providers: with the exception of 1 (the largest!), most providers are associated with only about 1% of scammy domains.



10/ Struggling to infer parallel phenomena in crypto. Perhaps big fraud facilitator is BTC-E, with other exchanges having lower fraud rate?

11/ Countries with highest concentrations of illicit domains. Perhaps extra due dil is warranted when evaluating ICOs with similar origins.



12/ The end. Curious about your thoughts, and again thanks to @DomainKing for bringing this industry to my attention!


Credit: Tuur Demeester

[El duderino_]

https://twitter.com/naiiveclub/status/1425380469244268549?s=21

[ChartBuddy]

Explanation

[Paashaas]

https://twitter.com/BitcoinMagazine/status/1425465284807307268
https://bitcoinmagazine.com/markets/buy-indicator-shows-bitcoin-price-will-explode

[aesma]

Hello WO,

back from a bit of vacation at the beach !

I need more vacation, about 365 days a year.

Almost 40000€ for the third time, third time's the charm ?

[Richy_T]

I figure if I need a hard copy I can always print it, which is why I'm not too fond of epub and mobi. I've ended up converting them to PDF anyway.

Epub and mobi are actually preferable for that *because* they are designed for reflow. PDF is a layout format so if (for an admittedly rare example) your PDF was designed for a 5"x5" page, printing to letter or A4, it would be suboptimal (in fact, even the differences between letter and A4 have caused me issues on occasion).

[JayJuanGee]

Hate to break the news to uie poo-ie, Hueristic, but I will.  

Someone's gots a do it.

Your English sucks about as badly as sirazimuth's singing.

No homo.

Hence why I specifically cited the fact I consider this (my first {natural}) a "second language". ;P
And it gets worse every year!

Really? you don't have JJGay on ignore?

If you don't love JJG you don't love Bitcoin. You heard it here first. 

I am so blushening...

Now it seems that we have broken resistance and that we are going to 50K in the blink of an eye.

$46,325.22 on bitstamp.

Waiting for trolldhon and his theories.

Theories??? It's math and science pal. That ain't no theory.

Since when did math and data science not include statistical theories?
One theory is the amount of short positions are still over leveraged last I checked (with $2 billion open positions). The bears are refusing to exit their losing positions, instead are holding onto their shorts Bitcoin as it rises and finds support above the 200 Day MA
What happens theoretically when these positions get liquidated is they have to buy back into Bitcoin. This is how the $50-60K "blink of an eye" can occur. All theory obviously, but 35% shorts vs longs in a bull market is still over leveraged imo.
Remember when price crashed 30% in a day?

If you are referring to May 2021, then surely a rapid crash in a short period, such as a day (or less) would be important, yet even the dragging out of what amounted to about a 50% crash in a week seemed to have had even more profound significance in terms of traders not necessarily wanting to close their position at a loss or less of a profit because they continue to believe that the bottom has been reached and they may even double and triple down upon the belief that the correction could not go any further (at least it should not within the high probabilities assigned to the circumstances).. So leverage makes the matter worse, but the dynamics are similar in terms of both not wanting to give up on a position.

The market was over leveraged long, the bulls got liquidated. Some theorized this would happen, I ignored it. I won't ignore this scenario in the opposite direction. That would be naive.
Ideally everyone exists their losing positions before liquidation, or at least at different prices. But they don't, and they never learn.

It tends to be a prudent position to hold onto your position, but surely bitcoin's outrageous runs, whether towards UPpity or DOWNity can really reck those folks who continue to hold onto their position.  Probably in bitcoin the glory is even so much greater, when it occurs, and the outrageousness goes towards UPpity.  There tend to be so many folks who try to categorize bitcoin as if it were a mature asset class and they either underappreciate (or don't recognize at all) the exponential s-curve adoption aspect of bitcoin's underlying fundamentals, and surely it becomes nice to see those periods play out, and sure it is not just the leveraged players who get fucked by their failure/refusal to appreciate/recognize BTC's exponential s-curve adoption component.

There are some of us who try to point out (until we are blue in the face) bitcoin's exponential s-curve adoption component to people/normies in order that they can appreciate that they do not need to invest a whole hell of a lot into bitcoin, relatively speaking, and just get the fuck off of zero and they will likely get a decent amount of value in that - and sure of course, there is even more value in putting a more meaningful stake into bitcoin, but still the "more meaningful " stake is not absolutely necessary in order to still get a decent amount of value in just being moderate and getting off of zero as a first step.

Another thing is that people (whether friends, relatives or just acquaintances) tend to look at you like you are some kind of wack job that is trying to evangelize some kind of cult ideas (or pump your bags), and frequently, I do try to clarify that I could give few fucks if they actually buy any bitcoin or get involved in bitcoin because it is likely going up no matter what I do or they do, and they can either be "in on it" or just sit on the sidelines like a bump on the ground while the greatest wealth transfer in their lifetime is taking place - and still the vast majority of the time the normie(s) in the audience does not do shit to even take the bare minimum steps of setting up some basic accounts in order to even come close to getting off of zero.

[ChartBuddy]

Explanation