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

[shahzadafzal]

This is so sad he’s one of the top TV journalist in Pakistan with 4.4m Twitter followers.

They don’t do any R&D by themselves just Google and read whatever crap available online on the first page and start giving suggestions to governments.

These so called journalists behave like they are experts of every thing whatever the hot topic on circulation. During pandemic they were experts of Corona Virus and vaccination then when recent Afghanistan was in news they were war experts of Taliban and think tanks or policy makers of Afghanistan. Now this Chinese FUD and they are cashing in with their financial advices… …!!!

[fr4nkthetank]

"precious forex" wow.   Maybe implement sensible monetary policy at the central bank level, instead of running it to favor the rich elite's (army) businesses you dumb fucks ?  Have fun with your 10%+ inflation rates

[Torque]

About LN, very interesting posts there, especially the long one by hisslyness (many thanks to him). I also remember Bob's struggle with LN some years back.

I don't know... I've never set up a LN node or anything, so I can't have an informed opinion, but the feeling I get by reading about it, is that it looks cool, simple, fast, cheap on the outside, but is quite complicated and messy on the inside. Also, the constant need for pampering the node, in order for it to function properly, is not good. These are not good signs, and I fear that they may cause problems for its future/success. I hope I'm totally wrong on this.

The whole thing brings back memories of Mike Hearn's blog post where he declares he's abandoning the Bitcoin project, and even jbreher's transaction limit posts here in WO... Don't get me wrong, I'm totally in favor of 2nd-layer solutions for micro-transactions and believe this is the future, but I sense that something may not be quite right (yet) in the current state of affairs in this matter. Just thinking out loud...

Yes, LN has been undergoing ever-increasing rounds of complexity as it seeks to provide what Bitcoin does on-chain off-chain. There are all sorts of caveats, gotchas and pitfalls and the need to settle on-chain introduces some interesting limitations as discussed by Peter Rizun and the scope creep has been quite large also (LN was originally envisioned for micro-transactions). Unfortunately, the censorship initiated by Theymos also removed a lot of the warning voices regarding potential issues with LN from the community and a largely sanitized presentation has prevailed. Hisslyness's post of his experiences is not too unexpected really.

I'm not going to make the obvious argument here because it's not helpful in context. It would be nice if LN could succeed but it seems to be very much an example of second system syndrome.

Agreed. Hopefully it can be salvaged/fixed, or maybe lessons will be learned and a LN 2.0 network can be established in the future.

One thing they absolutely *cannot* do is hold on to a bad model/system that is overly complex and costly, all due to hubris. The promise of LN was supposed to be "fast, easy, zero fee micro transactions."

Otherwise it'll become nothing more than what Ethereum has done. We don't need another broken Rube Goldberg chain with extortionary fees that is continuously gaslighted as "the next greatest crypto thing".

[ChartBuddy]

Explanation

[Paashaas]

The Dude back out of forced sleep…. First thing, check the WO

Or almost first thing, maybe after 2,3 calls and a good meal, sober 16hours I think

Was hungry AF

What happened to you?

https://www.hartstichting.nl/hart-en-vaatziekten/behandelingen/ablatie

kind of this thing

I hope you are doing well again after your ablation inspection/treatment, although it has a 90% recover rate.

Maybe consider drinking less alcohol for some time and change your diet in combination with jogging ore more workout in the gym to strengthen your hearth to prevent a possible relapse.

Stay save, treat your body in a healthy manner you have many years to come.

[BobLawblaw]

Establishing a couple more channels today, rebalancing a whole bunch of shit, but I think I'm going to stop opening more, for now, providing about 0.1% of the total liquidity on Lightning.

I think that's a respectable enough achievement for a random pleb like me.

Can't go too crazy.

Have a wonderful weekend, brothers (and any lurking sisters)

[HI-TEC99]

Establishing a couple more channels today, rebalancing a whole bunch of shit, but I think I'm going to stop opening more, for now, providing about 0.1% of the total liquidity on Lightning.

I think that's a respectable enough achievement for a random pleb like me.

Can't go too crazy.

Have a wonderful weekend, brothers (and any lurking sisters)

You've been watching idiocracy, judging by you're personal text.

[Cryptotourist]

https://www.juliusruechel.com/2021/09/the-snake-oil-salesmen-and-covid-zero.html

This is so under-merited.
Everyone should really read this. Thank you jojo, everything in one place.

[JSRAW]

LOL!

https://twitter.com/fillippone1/status/1441702678099341313?s=20

Chinese Government made themselves hodler by law!


Of course, LOL is referred to my own Twitter loneliness, not the proper Chinese Government

Will give you some likes and 1 new follower once i setup my fake twitter account.

[ChartBuddy]

Explanation

[El duderino_]

The Dude back out of forced sleep…. First thing, check the WO

Or almost first thing, maybe after 2,3 calls and a good meal, sober 16hours I think

Was hungry AF

What happened to you?

https://www.hartstichting.nl/hart-en-vaatziekten/behandelingen/ablatie

kind of this thing

I hope you are doing well again after your ablation inspection/treatment, although it has a 90% recover rate.

Maybe consider drinking less alcohol for some time and change your diet in combination with jogging ore more workout in the gym to strengthen your hearth to prevent a possible relapse.

Stay save, treat your body in a healthy manner you have many years to come.

true true, but sports and jogging etc is under good control and a daily thing ...

cheers

[JSRAW]

https://twitter.com/danheld/status/1441761578630594561

[ChartBuddy]

Explanation

[BobLawblaw]

Zero-fee weekend for muh node. Let's see how this plays out when I adjust fees on Monday.

[philipma1957]

The Dude back out of forced sleep…. First thing, check the WO

Or almost first thing, maybe after 2,3 calls and a good meal, sober 16hours I think

Was hungry AF

What happened to you?

https://www.hartstichting.nl/hart-en-vaatziekten/behandelingen/ablatie

kind of this thing

I hope you are doing well again after your ablation inspection/treatment, although it has a 90% recover rate.

Maybe consider drinking less alcohol for some time and change your diet in combination with jogging ore more workout in the gym to strengthen your hearth to prevent a possible relapse.

Stay save, treat your body in a healthy manner you have many years to come.

true true, but sports and jogging etc is under good control and a daily thing ...

cheers

you don't take stimulants do you?

  I have had a few friends flutter their heartbeats.  
All of them that are still alive stopped coke, lowered caffeine  etc.
The ones that kept doing the coke all had massive heart attacks and are gone.

My family's heart genes are fairly good. Most men in my family die from prostate cancer.

    But if you are getting heart fluttering you will need to do some changes.
  I spend 30 minutes on the stationary bike 3 times a day after each meals .
 I do my blogging and posting on an iPad it has done a lot for my health and weight.

[Torque]

We’re getting damn close to “shit or get off the pot” time for Bitcoin’s price. I think we’re going to see a big move towards the end of October and expect we’ll see a new all time high by November 2nd. Maybe that will be en route to a $200,000 Bitcoin exchange rate by the second week of December. Any variation from this path would have me getting concerned.

Legit question: I see posts like yours here on WO from time to time. This expectation of a magical price rise to X price by Y date, or else expectations get shattered.

Price doesn't just rise by magic. So who is going to provide this magical levitation? Why must Bitcoin hit a certain price by a certain date? Because a soothsayer chartist says so?

Not trying to be combative or negative, I'm just extremely curious in the thinking here. If you are thinking the PlanB S2F model, just know that it is not a self-fullfilling prophecy. Someone has to actually make it happen by buying. Actually a whole lot of someones doing a whole lot of buying in a short time frame (demand suddenly overwhelming supply). And they are not looking at someone's chart to decide when to do that.

In fact, the more people there are that believe the S2F model definitely will happen, the more that whale traders will have an incentive to NOT make it happen and do the opposite, fucking over both leveraged longs and shorts, and trying to shake out more weak-handed hodlers.

[El duderino_]

More as exactly correct @Torque

[ChartBuddy]

Explanation

[El duderino_]

BTC floor has been set. Large bids across all major exchanges.

BTC came within $1,300 of my on-chain floor model and is still $148,000 from my top model.

Do we trade a few thousand $ lower? I couldn’t care less. The asymmetry of being long over the next few months is huge.



https://twitter.com/wclementeiii/status/1441777670774304772?s=21

[ivomm]

Although I am in a great RL crisis RN, I can't help but laugh at the latest "China bans Bitcoin" soap opera, Season 8, Episode 28. I wonder what Winnie the Pooh and his communist gang actually achieve by declaring trading via VPN of crypto as illegal? Do they have the capacity to track each of its citizens and impison them for using VPN? I haven't heard about a single sentence in China for using a VPN. The point of VPN and other ways of masking the computer is exactly this - to keep anonimity.

So, let's think about it. There are 3 ways to use a VPN and remaing undetected when contacting an exchange,  localbitcoins, paypal, revolut, etc. 1st, one can use a public computer and find one of the thousands free vpn services, not to mention the paid ones, which are much more secure. 2nd, one can go out of China temporarily to do so. 3rd, one can use a trusted friend or OTC intermediator to do it on his behalf. Regarding the selling, the solution is even simpler: make a bank account abroad and if one needs to transfer the profit in a China's bank, he must declare that the profit is made with the bank products e.g. stocks, like Amundi, Shroeder, etc which are offered by many banks. So, there is no way for this threat to make a real impact on the decision of even the poorest chinese peeps to invest in Bitcoin. That is the truth, and it must be known. In reality the number of chinese owning Bitcoins continues to grow. It is way more than we can imagine and that is why the legs of the communist gang are shaking to the point when the whole regime will collapse in an avalanche of bank bankruptcies.