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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26380869 times)
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August 23, 2021, 04:01:27 PM


Explanation
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JayJuanGee
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August 23, 2021, 04:08:31 PM


I have also learned to try NOT to get too surprised by anything, even while I am ongoingly "I told you"ing folks about where we are at.. and so many of them remain nocoiners.. so I just ongoingly wonder and wonder and wonder when they are going to get in.. are they waiting for $1 million coins or what? 

This is a very important thing to cultivate.  It has made me generally peaceful through many of the downs (and ups!) of Bitcoin over the years.  I cannot say I am 100% cured in this regard, but one of the strange things I have learned over the last decade is to not care about money all that much any more.  It really does not fix anything, and most of the things we think it will do for us... it will not.

In this particular area of discussion and frustration in regards to some of my ongoing nocoiner interactions, I doubt that I am considering money to solve all the things, because part of my point with my various interactions with so many of the nocoiners remains the seemingly consistent theme that involves concern about money in terms of the dollar not holding its value.. and so there is an ongoing concern coming from these kinds of peeps about financial security.. and surely I continue to stick with my get off zero and get 1% to 10% of your investments into bitcoin... so yeah, maybe I am beating a dead horse with them and also beating a dead horse in repeating my frustrations in this thread...

Yes.. I can ignore people with whom I interact, and we can talk about other topics, and believe me we do talk about other topics, and I suppose a positive sign about bitcoin, is that more frequently, I am not even the one bringing it up, but sure part of my own problem in some of these interactions remains that I am known as the bitcoin guy.

There are also many of us who might get into conversations in which we are not necessarily the bitcoin guy, yet people still tend to inevitably get into conversations that deal with craziness involving ongoing concerns about their ability to maintain their standard of living through ordinary measures, and sure, even if they are a high income earner they might be concerned about where to invest their money and if they are a lower income earner, sometimes they are not even investing in shit, anyhow.. and sometimes they consider investing in consumption goods to be an investment.. which remains somewhat problematic for me to continue to engage in some of these conversations without at least questioning whether they might be better served to have some kind of a savings/investment plan, and surely I am NOT going to recommend people to put money in the banks, and even if the stocks are doing well, it might be hard to suggest investment into stocks even though we may well know that many people might not have too many investment options, so they might ONLY have either something like a 401k or possibilities of buying property.. so surely bitcoin could end up being part of the mixed set of suggested investments - even if many normies will still have trouble even getting to bitcoin as a potential complement to their lives if they have some difficulties even considering the value of savings (and bitcoin remains a kind of different and old fashion kind of savings in terms of laying out longer term possible returns.. not just getting caught up in short term ups and downs)..

A kind of side story:  yesterday, one of my uncles mentioned something about since I have bitcoin that I am going to be able to do whatever I want when bitcoin reaches $1 million, and I asked why the hell would I personally need $1 million per coin.. I said for rounding off purposes, we could just figure that my costs per BTC are around $1k, and I am wondering if he could even imagine why someone in my position would need any more BTC price appreciation in order to be happy.. why do I give any shits if BTC reaches a million or not?  Sure, I hope BTC does not go back below $20k.. and I am even doubting the possibility of that ever happening again, so if we have spot price profits that ends up being around 50x in profits for me and a kind of guaranteed ongoing profits of 20x, then why would I need more than that.... I said that is already amazing profits, and I am not even saying that bitcoin is not going to $1 million.. I said that there still is no other investment that is as good as bitcoin.. even given current market conditions

I said sure, maybe if I buy a helicopter, then my problems could be solved because so many people get rich and they buy helicopters and then they crash their helicopters when they had a lot going for them. .Maybe it is not a good idea to buy a helicopter, then.  I had some other frustrations talking with seemingly committed no coiners.. and just seems crazy.. that so many of the no coiners still do not want to budge... when?  when?  when?  I don't know.. they may well wait until we get to FOMO position.. and we are not there, yet.. even though they consider that we are already in FOMO status.. and we are quite likely not.. not yet.

This is one of the most weirdly frustrating things.  I have not cast many  pearls really, because people do not listen to you, and it's a waste of time.  But now and then I try, and it still blows my mind.

I have a hard time to just leave people flailing.. even if in the end it remains quite likely that they are going to resort to back to various nocoiner rationalizations regarding their having had missed the bitcoin train blah blah blah.

I accidentally left a bluetooth headset in a box I handed off to a co-worker.  This morning he asked if I could give him my address and he'd mail it.  I said, sure, and told him if he gives me a BTC address i will cover more than the postage.  "Nah.",  He said... "no worries".  "Well, just think!  If I send you 10-15 bucks in BTC today, it could be worth a lot more in a few years!".  "I could only wish that would be true." was his final reply.

It just doesn't seem to sink in, and I blame part of these matters on the various convolution of crypto versus bitcoin, so many normies have hardly any clue about what bitcoin is, and when they attempt to look at into the matter at all, they get confused and distracted by both what they heard bitcoin is and they kind of consider bitcoin to be crypto.. which largely means that they have hardly fucking any clue.. even if they kind of are able to articulate some various ideas about magical internet money cult stuffs..

I would really like to give him the money.  But if he's going to remain asleep then I am not going to waste SATS sending them to a wallet he will not be able to find the keys for when he realizes it is now worth $500.  And I will not be able to bear the message I will get... "Hey!  How can I get to the Bitcoin you sent me?"  You can't.  Neither of us can now... 

Been there.. done that several times..

I am probably not going to completely give up.. but sure, we can sometimes see what is likely to happen..

I have an aunt that I was working with for the past 6 months or so, and when we were talking by phone, she was wanting to change the topic to bitcoin.. and I pretty much had written her off, and I was telling her that it was going to be likely that she had not done shit since our last conversation, but she had at least gotten started, so sometimes some normies do start to take action, even when we had considered writing them off as a lost cause..... 

In other words, I had gotten so frustrated with her over the years of our so many conversations.. but at least now she seems to be taking some action and about $50 per week DCA.. and sure it should be a bit more than that, but whatever, it is better than nothing..

I have another workmate that I sent $5 to in BTC years ago.  This one, though I set up the wallet and keep a copy of the seed words myself.  Good thing, as I am 100% sure he's lost it, and it's worth 4 figures in USD now.  I am not sure what I will charge him to give him the keys later. 

It's so weirdly frustrating.

That's the level of ongoing difficulties that we are dealing with for sure, and part of the problem of attempting to help some people more than they are willing to help themselves.  I have a couple of similar stories to that one too.. not exactly the same but pretty damned similar...   .. one of them $80 at $420-ish.. which would be around 0.19BTC... so of course, I replaced that amount in my wallet after I sent it as a gift, but just think about   around $9,500 of value being "lost" due to failure/refusal to be responsible on the side of the recipient.
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August 23, 2021, 04:17:35 PM

Can we make NFTs on Bitcoin?
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August 23, 2021, 04:22:06 PM
Merited by ImThour (1)

Can we make NFTs on Bitcoin?

Bitcoin is NFT…. You can have it own it and be proud of it. Tomorrow people will be biding hundreds of thousands of dollars to have one.
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August 23, 2021, 04:50:50 PM
Merited by cygan (2)

we are back on track guys... Grin


Quote
Bitcoiners are so lucky
https://twitter.com/LinaSeiche/status/1429664737567010816

Precisely this. My friend who has been doing the standard meme things (buying shitcoins, selling during the last correction and setting his buy orders $5 below the bottom, trading with all his stash etc) now has cold feet because Bitcoin "is too volatile and manipulable by big players" and can't be convinced that it's any better than fiat or, as he says, "the old system" because of that. Seems to be getting him quite anxious and he just can't understand how I can hodl and be cool as a cucumber.

For sure, playing the UPs and DOWNs can be real profitable, until it is not, and then there is a need to be ready to leave all of the value on the table if you sold at $46k and then the price does not return to $46k or whatever other know it all cycle plans the guy might have been playing.  Sure, I don't have any problem in terms of selling on the way up, which generally means you better be ready to leave that value on the table if you sold, which will usually mean, don't be selling too much too soon...

For example, it's kind of difficult to run out of BTC if you are selling less than 1% every time the BTC price goes up 10% or some other formula that might be acceptable, suitable and prudent... and better to have your BTC holdings to be in decent profits too (prior to selling or shaving any off the top), yet some guys will consider something less than 2x as being in sufficient profits and then they realize that they may have sold too much BTC too soon when BTC prices get to a point that they would have been in 5x or 20x profits, and then they ponder about why they had not hung onto a few more BTC....   and "if I had kept those 3.743 BTC, I would have blah blah blah value" but instead I sold most of them between 50% profits and 2x profits, and so now, I only have 0.043 BTC remaining (if that?)..   Sucks to be you, buddy... lack of adequate and meaningful preparation for UPpity during the greatest wealth transfer in our lifetimes.

JJG, your value post is precisely what I mean. Negotiation is the exploration of who gets what share of the excess value. I'd say it's almost never evenly divided and no reason it should be.

Surely in a voluntary transaction, there is not going to be abilities for the individual parties to figure out how much surplus value each person got, and in many cases it might not be necessary to know those surplus values except to appreciate that they exist, otherwise the parties would not have voluntarily engaged in the transaction.

Many of us can appreciate that there have been ongoing efforts for governments to try to figure out ways to
involve themselves in knowing about and involving themselves in bitcoin transactions, and surely I would not even argue that they do not have any rights to attempting to figure out ways in which to be involved, and surely many of us can appreciate that dynamics can be changed in bitcoin, but bitcoin has already been designed to put obstacles in third party interference with transactions and built in incentive systems, and I have a lot of trouble conceptualizing ways in which bitcoin would NOT be increasing the size of the pie, and sure it is possible that various shitcoins are increasing the size of the pie too, but I tend to be quite reluctant to give them such benefit of the doubt in terms of some of the seeming counter-productive and scammy aspects, but sure, if it were not for bitcoin to provide security to those various shitcoins, they would have more difficulties operating - and so sure, in the end, there might be some values that come from learning about various systems that could end up getting incorporated into bitcoin, even if they might have been merely some seemingly non-value contributing imitation, but ends up serving as a kind of test bed and real value comes out of the whole process.

JJG, your value post is precisely what I mean. Negotiation is the exploration of who gets what share of the excess value. I'd say it's almost never evenly divided and no reason it should be.

If I am following that last bit correctly, it is actually something I comfort myself with.  Because we live in a world where to many of us there is this obvious low hanging opportunity and yet the masses seem to be 99% blind.


The 80/20 rule is probably a better ballpark figure in terms of approximating the cluelessness of people, and I would not even be presuming the 80% to be dumb, but manipulation can be quite successful, and 80% really have troubles getting out of situations and systems that oppress them.

I wonder if there is a rule also that 80% believe that they are in the 20%, even though the actual number is that only around 20% are actually in the 20%, whether they know that they are in the 20% or not?

Bitcoin does make a lot of us feel as if we might be in the 20%.  Whether it is true?  It's probably not too easy to know, for sure.

That's the weird catch-22 in every life changing chance we get.  If they were not hard for most to see, then it would not really be the opportunity it isin the first place.  Chicken, meet egg.

You seem to be describing a bit of a different problem... because if we are referring to the creation of value, everyone can choose whether or not to engage in a transaction, and they also will work within Gresham's law like motivations to figure out how to transact and perhaps if they might be more advantaged to use one means of transacting or another.  Of course, they frequently are not going to be fully informed and sometimes they are going to be on the fence and even other times, they will later discover that they were mislead in the value of the transaction so they might subsequently end up getting greater or lesser value depending on the degree of their lacking better information.



GOOD MORNING //50K CHOP CHOP =)))YEEEEEEEEEEEEEEEEEEEEEEEEEEEEE

Very inviting gembitz....  whoaza     Shocked Shocked Shocked

And much more tolerable when considering the whole BTC price dynamics matter from that point of view...


wwwwwwwwhhhhhhhhheeeeeeeeeeee!!!!!!!!!
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August 23, 2021, 05:01:27 PM


Explanation
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August 23, 2021, 05:07:15 PM
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Down over 1% in the last 12 hours. Not looking good for bulls.

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August 23, 2021, 05:08:53 PM

And also, I had no idea cars doesn't have distributor caps anymore.

Yep. Haven't had a distributor since 2000 and that was my wife's mini. My current car doesn't even have spark plugs Cheesy

i dont miss distributors.. use to keep a can of WD40 (or wire dryer) in the vehicles to spray the coil, cap and plug wires when they got wet.

Awesome... you, unlike ALL the rest of us, were using W(ater)D(isplacer)-40 for it's actual original intended purpose!
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August 23, 2021, 05:24:05 PM
Merited by sirazimuth (1)

So how does it work nowadays then?

Typically the points are done solid state and you just have a coil per plug or cylinder (coil packs). So no need to be switching high voltages around and no moving parts.

Fans are no longer driven with fan belts either Cheesy No more shoving cardboard down the front of the radiator on cold days.

Jesus How old are you! Cheesy

When were car Thermostats stock?
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August 23, 2021, 05:25:59 PM

Who are these “The Proud Boys”???

And what are they proud of?? Do they own lots of bitcoins?
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August 23, 2021, 05:28:12 PM
Last edit: August 24, 2021, 02:31:24 AM by Hueristic

So how does it work nowadays then?

Typically the points are done solid state and you just have a coil per plug or cylinder (coil packs). So no need to be switching high voltages around and no moving parts.

Fans are no longer driven with fan belts either Cheesy No more shoving cardboard down the front of the radiator on cold days.

Sounds great, wish that could be retrofitted to my car.

I modded my coils on my bike to coil sticks (made up a simple wiring harness) so I don't see why you couldn't use an aftermarket ecu if you really wanted to. I'm seriously thinking of losing the carbs but there are no bolt on solutions i've found so its alot of custom work.

I actually did the cardboard thing last winter, I have trouble getting the car really hot. One of the reasons I'm changing the fluid, I'm gonna flush the heatpack.

Just change out the thermostat to a higher temp one.
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August 23, 2021, 05:28:48 PM

Down over 1% in the last 12 hours. Not looking good for bulls.



Do you really spend time creating these graphs??
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August 23, 2021, 05:37:31 PM
Merited by El duderino_ (5)

Down over 1% in the last 12 hours. Not looking good for bulls.



Do you really spend time creating these graphs??

Yes
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August 23, 2021, 05:41:03 PM

Down over 1% in the last 12 hours. Not looking good for bulls.



Do you really spend time creating these graphs??

Yes




Lot of volatility recently  Shocked
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August 23, 2021, 05:57:37 PM

Down over 1% in the last 12 hours. Not looking good for bulls.



Bro, you are seriously making me nervous. I do not have enough fiat to buy more coin for the amazing pump you are predicting
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August 23, 2021, 06:01:34 PM


Explanation
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August 23, 2021, 06:09:47 PM

Down over 1% in the last 12 hours. Not looking good for bulls.



Time to buy, then.

Trolldhon is a contrarian indicator.
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August 23, 2021, 06:11:48 PM
Merited by fillippone (2), bitcoinPsycho (1)

Down over 1% in the last 12 hours. Not looking good for bulls.



Do you really spend time creating these graphs??

Yes

The first correct post after years

Nice

Progress

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August 23, 2021, 06:12:55 PM

Down over 1% in the last 12 hours. Not looking good for bulls.



Bro, you are seriously making me nervous. I do not have enough fiat to buy more coin for the amazing pump you are predicting

You do not need "a lot."  Just 80x with whatever you do happen to have, and you should be "golden" just like ur lil name.

 Wink


You will (or at least should in theory) thank me later.
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August 23, 2021, 06:21:01 PM
Merited by Hueristic (1)

So how does it work nowadays then?

Typically the points are done solid state and you just have a coil per plug or cylinder (coil packs). So no need to be switching high voltages around and no moving parts.

Fans are no longer driven with fan belts either Cheesy No more shoving cardboard down the front of the radiator on cold days.

Sounds great, wish that could be retrofitted to my car.

I modded my coils on my bike to coil sticks (made up a simple wiring harness) so I don't see why you couldn't use an aftermarket efi if you really wanted to. I'm seriously thinking of losing the carbs but there are no bolt on solutions i've found so its alot of custom work.

I actually did the cardboard thing last winter, I have trouble getting the car really hot. One of the reasons I'm changing the fluid, I'm gonna flush the heatpack.

Just change out the thermostat to a higher temp one.
Haven't read the previous posts to this, but couldn't resist a discussion of ignition mods.  I used to mod my old points vehicles with electronic ignitions, often of my own design.  My favorite hack was to make a cascode circuit by putting an IGBT between the points and the coil, which relieves the points of the high voltage burden and passes the high voltage switching load to the transistor (points still carry the current in series with the IGBT).  Simplest circuit possible.  I've done complicated stuff like building a hall effect ignition with magnets on a spinning disk in the breaker (the cannister that contains the points) of an old panhead.  Good memories.  Now I drive a modern car and do abstract stuff like modeling an oscillator based on bitcoin's 100 week geometric mean.  Life goes on.
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