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

[AlcoHoDL]

Translated from german, OT:

EU is working on the “master key” for social networks

At the meeting of interior and justice ministers in Luxembourg, which ended on Friday, the start of an EU regulation against secure encryption in social networks was quietly and secretly set. Commissioner Ylva Johansson had such a regulation
(Interior department) already announced in spring.

It was discussed how WhatsApp and Co. should be obliged to compromise their end-to-end encryption (E2E) with master keys and to transfer chats in plain text to the prosecutors. According to Johansson, this is necessary to track child abuse online. The subject was not mentioned in the press release after the ministerial meeting.

Few things get me angry, but this one is exceptionally hard to swallow.
I don't use facefook and whatsCrap, tho.

EDIT: How about "democracy abuse", this would probably get most of these fuckers into jail.

Yeah, right. As if criminals and pedos use WhatsApp and Facebook Messenger to communicate. Even many "normal" people have stopped using this crap. Haven't they heard of Signal, PGP and Tor? There's always going to be a way to securely communicate. They cannot unwrite cryptography. Just like they cannot undo Bitcoin. Fucking morons.

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[Syke]

$56k THE FUTURE IS HERE again!!!

Welcome back old friend, long time no see... last time we saw you was 6 May 2021.

Those things never connected above 44k. I never want to see 44k again. Here's to the moon!

[ChartBuddy]

Explanation

[Richy_T]

Translated from german, OT:

EU is working on the “master key” for social networks

At the meeting of interior and justice ministers in Luxembourg, which ended on Friday, the start of an EU regulation against secure encryption in social networks was quietly and secretly set. Commissioner Ylva Johansson had such a regulation
(Interior department) already announced in spring.

It was discussed how WhatsApp and Co. should be obliged to compromise their end-to-end encryption (E2E) with master keys and to transfer chats in plain text to the prosecutors. According to Johansson, this is necessary to track child abuse online. The subject was not mentioned in the press release after the ministerial meeting.

Few things get me angry, but this one is exceptionally hard to swallow.
I don't use facefook and whatsCrap, tho.

EDIT: How about "democracy abuse", this would probably get most of these fuckers into jail.

Never irrelevant

[ChartBuddy]

Explanation

[AlcoHoDL]

Rise and shine, fellow WOers, and a wonderful start of the week!

NGU, I see. Nice. Expected. Still kinda boring. Needs moar UPpity.



HoDL.

[ChartBuddy]

Explanation

[LoyceV]

Enlighten me: why has the gold price been dropping in the past year?

(image source)

From my (limited) understanding of economics, I'd expect gold to go up when (the fear of) inflation kicks in. But instead, it stopped going up the moment the inflation went up. Is this "normal"? Or could it have to be with Bitcoin taking over part of gold's safe haven position?

[ChartBuddy]

Explanation

[BobLawblaw]

Ok, so, retard Lightning Network question.

Some of the new routes I established yesterday are starting to see activity, after viewing the logs.

Is my understanding correct of the "Fee (mSats)" - that number is the profit I'm making on routing that transaction, or is that being completely misunderstood?

[shahzadafzal]

Enlighten me: why has the gold price been dropping in the past year?

(image source)

From my (limited) understanding of economics, I'd expect gold to go up when (the fear of) inflation kicks in. But instead, it stopped going up the moment the inflation went up. Is this "normal"? Or could it have to be with Bitcoin taking over part of gold's safe haven position?

Well I heard this from a gold trader... reason of prices going down is "low demand". For last year (could be linked to pandemic) sales of Gold have been declining and reason are directly linked to two countries China and India. They by far the largest Gold consumers of gold in the world. So when demand is low in these two countries prices will drop all over the world.




In addition to that inflation is another factor "Surge in Supply" when supply is increased in and demand already declining price of gold is bound to fall. Although China and Russia are the largest producers of Gold in the world but I guess Africa's Gold supply didn't decrease during this pandemic, because Africa was the least affected area during this COVID crises. My friend working in Ghana in this Gold trade told me they were out of cash to buy any gold from locals and these locals they were giving the gold on promise of getting payment whenever available (could be between 2-3 months). So definitely supply has been increased but without demand.

[OutOfMemory]

Translated from german, OT:

EU is working on the “master key” for social networks

At the meeting of interior and justice ministers in Luxembourg, which ended on Friday, the start of an EU regulation against secure encryption in social networks was quietly and secretly set. Commissioner Ylva Johansson had such a regulation
(Interior department) already announced in spring.

It was discussed how WhatsApp and Co. should be obliged to compromise their end-to-end encryption (E2E) with master keys and to transfer chats in plain text to the prosecutors. According to Johansson, this is necessary to track child abuse online. The subject was not mentioned in the press release after the ministerial meeting.

Few things get me angry, but this one is exceptionally hard to swallow.
I don't use facefook and whatsCrap, tho.

EDIT: How about "democracy abuse", this would probably get most of these fuckers into jail.

Yeah, right. As if criminals and pedos use WhatsApp and Facebook Messenger to communicate. Even many "normal" people have stopped using this crap. Haven't they heard of Signal, PGP and Tor? There's always going to be a way to securely communicate. They cannot unwrite cryptography. Just like they cannot undo Bitcoin. Fucking morons.

Yeah, the agenda is kinda clear: Spying on average joe... 1984 seems to be late for 40 years  
Last year i got news that they want to ban messaging services that refuse to obey to the master-key dictate, speaking of Signal.
Banning Tor and projects like GPG and other frontends using encrypt/decrypt would probably lead to a full blown cyberwar.
Why not? It's clear who is the evil here.  

[BitcoinBunny]

Enlighten me: why has the gold price been dropping in the past year?

(image source)

From my (limited) understanding of economics, I'd expect gold to go up when (the fear of) inflation kicks in. But instead, it stopped going up the moment the inflation went up. Is this "normal"? Or could it have to be with Bitcoin taking over part of gold's safe haven position?

3000+ tonnes mined every year is why no one gives a crap.


Look Grandpa, I found a small piece of gold. Should I hold onto it? Maybe one day I can buy a chocolate factory! I will first have to find a secure way to store it and then sell it, it will take a long time to figure out but could be worth it.


I'm not sure Charlie. Maybe if you want to use it when you are my age it might be worth keeping. But look at me, I can barely get out of bed and I am stuck in here with 3 other old farts, literally smelling their farts right now. If I could go back being your age I'd invest in something cool, new and not something that old farts talk about. By my forties I'd want to be on a beach somewhere with beautiful naked young women.


Whooptie doo, Charlie has gold, Breaking News everyone, what a threat to my operation.
Tell me more about how you are going to run my chocolate factory when you can finally afford to buy it with that bit of gold in the future and have been dead for a million years.


Maybe I should just sell it to that dumb ass Peter Schiff and buy some Bitcoin instead.


F*ck!!

[Arriemoller]

Biltema dinner
Meatballs with mashed potatoes
And rust remover




My belated Sunday haiku.

[Syke]

Biltema dinner
Meatballs with mashed potatoes
And rust remover

How were the horse meatballs?

[Arriemoller]

Format is too small
Also bought fabric cleaner
No fit in haiku

[Arriemoller]

Biltema dinner
Meatballs with mashed potatoes
And rust remover

How were the horse meatballs?

Delicious.

[ChartBuddy]

Explanation

[BitcoinBunny]

HORSE meatballs? Or Horse balls?

When I get the Stena Line (Swedish company) ferry to The Netherlands I always have meatballs with mash too. Pretty decent.
Hope they are not horse, but I guess it wouldn't matter too much.

Also, the Ikea frozen meat balls are excellent value. Big bags full of balls.
£6 for 1 kilo is a steal.
or 0.00017 BTC / kilo.

Just trying to calculate how many Ikea Swedish meatballs in tonnes I could buy with my stash. It's a lot.
 

In fact, if BTC were to ONLY keep up with fiat inflation from here on out and you lived of 1/3 packet Ikea Swedish meatballs per day (about 780 meat calorie intake per day, the rest can be potatoes and some veg)
You can pretty much fund 56 years worth of your personal meat intake if you already hodl 1 BTC.

Not sure why I calculated that, but I thought it was interesting. 

[Torque]

Enlighten me: why has the gold price been dropping in the past year?

(image source)

From my (limited) understanding of economics, I'd expect gold to go up when (the fear of) inflation kicks in. But instead, it stopped going up the moment the inflation went up. Is this "normal"? Or could it have to be with Bitcoin taking over part of gold's safe haven position?

With the big bullion banks owning 90+% of all the gold, with thousands of naked contracts they can basically set the price wherever they want.

The price in fact did go up, with insider knowledge the banks already front ran the price up from 2016-2019. They already knew what was coming in 2020.

The problem is that Average Joe is 100% reactionary, and won't start buying PMs until an actual crisis happens. The insiders know this as well. That's why during 2020, physical inventory disappeared and premiums went to the moon: to screw over Average Joe.

And now the price slides, screwing over all the Average Joes that bought gold at the top and with high premiums once again.

Advices: Don't be like Average Joe.

"The time to buy an asset is not when everyone wants it, but when no one wants it."