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

[ChartBuddy]

Explanation

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[LFC_Bitcoin]

This weekend, any chance?

[samson]

Someone being "bitcoin whimp" in the past is OK and would not matter in the slightest when btc would be at $0.5mil (gold parity) if you started smallish and DCAed for a while.
One the other hand, 'front-running' the whimp could be sweet too  

In order for gold parity to come I believe the gold market will tank real hard so when it happens the market cap of gold will have reduced massively, like 50% for example.

Due to this it will happen far quicker than anyone realises as gold races down in price while Bitcoin rises at the same time as people pull money out of gold and put it into Bitcoin.

At some point they will meet somewhere in the middle and it will be way lower than half a million a coin.

I'm going to name this 'The Bitcoin/Gold Cross' - when it crosses the gold market cap....

[gembitz]

its been fun  weeeeeeeeeeeeeeeeeeee

you mad, bro?

APE OUTTTTTT REEEEEE =)))) LOLZZZ 100K SOON/???

[Richy_T]

So you're basically saying that since I can buy a VCR or Nintendo Entertainment System for $5 at a yard sale, life has gotten cheaper and inflation doesn't exist? Uhm, no.

https://www.usinflationcalculator.com/

This one worth a look if you haven't seen it before too.

http://www.shadowstats.com/alternate_data/inflation-charts
http://www.shadowstats.com/article/no-438-public-comment-on-inflation-measurement

[ChartBuddy]

Explanation

[Syke]

http://www.shadowstats.com/article/no-438-public-comment-on-inflation-measurement

Good read. So when prices go up, consumers are forced to buy cheaper products, and thus there has been no inflation? Devious!

[savetherainforest]

waiting btc $ 50k

The battle for $50k seems to be ongoing, but sure, the trade volume does not seem to be very high, at least not so far.

So, as I type this post, within the past 20 minutes king daddy has gotten within $167 of negating such still existing pollening.

...and my 1st thought was "uh-oh,  jay must have got hacked! .... he never posts less than a page..."

this is Jay's shortest post I've ever seen

For a guy that has like 3 BTCiTcoins in his name, he sure does talk a lot... ... A F^'*KING LOT !!!

[ChartBuddy]

Explanation

[El duderino_]

[Biodom]

accept bitcoin..and prosper
fight bitcoin..and experience severe economic hardship of the population in 5-10, maybe 20 years max...how long do you think thy can print fiat without affecting the bond market?

[JimboToronto]

... he sure does talk a lot... ... A F^'*KING LOT !!!

He has a lot more to say than some no-coiner

[Arriemoller]

Lets look at inflation. 20 years ago vs now.
Price of a new car, 20 years ago.  US labor statistics bureau.  Thats adjusted for inflation, etc. everything in 2001 dollars for clarity
6.25% total inflation over 20 years.  
Clothing
100$/94.24$
Deflation of 5.76%
Airplane tickets
Deflation of 6.40%
TV's are 96% lower.  keep in mind this is an equivalent purchase.  in 2001 you would not buy a 72 inch tv.

Everything related to technology and outsourcing is in a deflation state due to technological advancement, increased productivity and exploitation of 3rd world countries.

Now why do people think there is inflation ?  Because everything related to goods that are commodities/consumables has inflation
BACON = 80% HIGHER
BEER = 50% HIGHER
ELECTRICITY = 60% HIGHER
GAS = 97% HIGHER

So our society = everything durable/tech = much cheaper all the time = increased quality of life for cheaper = better world
everything consumable = much more expensive all the time

Solution ?  Just buy bitcoin.

So you're basically saying that since I can buy a VCR or Nintendo Entertainment System for $5 at a yard sale, life has gotten cheaper and inflation doesn't exist? Uhm, no.

https://www.usinflationcalculator.com/

Handy Calculator that draws from the same data that you were trying to cherry pick says inflation from 2001 to 2021 is 54.2% and in real world terms that still seems like an artificially suppressed statistic to make the Fed look better.

86.3% of all statistics are randomly pulled out of somebody's ass to prove a point. Trick is to figure out what point that ass is trying to prove.

Buy Bitcoin.

Where did he ever mention buying used goods?
He is right, electronic stuff and the likes are much cheaper now than 20 years ago, and consumables are more expensive, in 2001 dollars/adjusted for inflation, both go in to the calculation of inflation/deflation. That's not cherry picking, that's economics.

[Biodom]

Someone being "bitcoin whimp" in the past is OK and would not matter in the slightest when btc would be at $0.5mil (gold parity) if you started smallish and DCAed for a while.
One the other hand, 'front-running' the whimp could be sweet too  

In order for gold parity to come I believe the gold market will tank real hard so when it happens the market cap of gold will have reduced massively, like 50% for example.

Due to this it will happen far quicker than anyone realises as gold races down in price while Bitcoin rises at the same time as people pull money out of gold and put it into Bitcoin.

At some point they will meet somewhere in the middle and it will be way lower than half a million a coin.

I'm going to name this 'The Bitcoin/Gold Cross' - when it crosses the gold market cap....

It very well might happen and btc and gold 'meet' each other at, say, btc 250K instead of ~500K.
If that happens, though, I don't think that btc will stop there  

[Torque]

http://www.shadowstats.com/article/no-438-public-comment-on-inflation-measurement

Good read. So when prices go up, consumers are forced to buy cheaper products, and thus there has been no inflation? Devious!

Or like when the price of new cars and trucks skyrocket due to supposed "supply chain constraints", people are forced to purchase used cars and trucks at exorbitantly sky-high prices...

...so there isn't really anything cheaper.

Oh wait...

[Torque]

Airplane tickets
Deflation of 6.40%

This is not really a fair one, considering that even econo seats back then had enough leg room and other perks to feel almost first class. 

[Arriemoller]

Why did Binance disable fiat withdrawal?

They didn't, I withdraw cash via my card all the time.
I think some users have to do KYC to withdraw cash though.

Edit: https://bitcointalk.org/index.php?topic=178336.587100

[ChartBuddy]

Explanation

[Elwar]

Buying a Nintendo for $5 is a good example of why people are still willing to spend their bitcoin when they know the price will continue to go up.

If people are not willing to part with their money knowing that they can get the same product for less later on then why did anyone buy a Nintendo for $150 when they could have just waited and paid $5?

Why are people buying PS5s above retail value (current going price is about $700 while it is sold at stores for $400)?

[ChartBuddy]

Explanation