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

[Torque]

True stack what you can

Average Joes don't have the money to buy a 400 oz bar of gold, but they still buy fractional gold to this very day.

They don't say "Well if I can't buy a whole 400 oz bar, or a kilo bar, then I no longer want gold."

This cognitive dissonance wrt bitcoin blows my mind. Why do people need constant reminding that buying fractional btc is ok? We are truly living in Idiocracy clown world.

[Torque]

I do not think Ethereum would centralize to a single authority.  But it would collapse to a small number of very powerful members of a group.  It would need the kind of infrastructure that only countries and huge corporations (think Amazon, Google) could create and maintain.  So we just end up with a new system that works just like the old one.  The members of that "fedaration" could meet and set policy as they see fit.

And then the obvious question.  Why on earth waste all this time and money running a blockchain when they can just do it with a good old shared database?  There is no reason.

And poof the reason for Ethereum to exist in the first place disappears into a puff of logic.

The central banks seem to have already figured this out.  They are not going to waste time trying to make something decentralized for their CDBCs.  Why would they?  It would not benefit them.  Now i imagine they might use the NAME "blockchain".  But...  

Exactly.

Also, they could simply say they released their CBDCs on a blockchain, whether it was current fork, or some other homegrown blockchain. But they simply use the old system already in place behind the scenes, tried and tested, and citizens would not be able to verify that either way. It's all digital and hidden to the end user. Absolutely nothing would be different and nothing would change.

[BitcoinBunny]

My greatest wish in life is that when she dies, there are numerous parades worldwide....

...not to honor her life, but to celebrate her death.

Joyfully singing "Yay, the wicked witch is dead!"

Fuck that wealthy elitist bitch.

Too bad she doesn't make movies with Alec Baldwin.

[savetherainforest]

WO abandoned.  Only me and Chartbuddy left

I have nothing to trigger with about, anyone or anything for now. Not even the usual spammers don't seem to have the endurance to keep banging that cann down the road.      

[JayJuanGee]

Fuck crypto...

What is that?

Exactly what you read….

There are plenty of people invested in shitty coins as well…
Those are having bad feelings and cannot not check the price bc the uncertainty of those “crypto’s”…

Not relevant, here.  Fuck shitcoins, and discussion of such topic in this thread.. especially if you are trying to suggest that there is some kind of thing that is even close to equivalent to BTC.. which it is not and it is a slippery slope to get into such nonsense thinking (and framing of what is supposedly important)..  

Might have to pour one out for you dude.... especially if you do not snap out of it..... quickly..  hahahahahaha

Great talk between James from InvestAnswers and Michael Saylor.
Highly recommended. No BS. Both are already sold on BTC and basically discussing why every other investment sucks.

https://www.youtube.com/watch?v=-cx1Am2UFCA&ab_channel=InvestAnswers

Thanks for that B_Bunny... I listened to it.

I had seen/heard quite a few Saylor interviews, and it seems to me that Saylor has adjusted some of his ways of discussing and describing his company.. you can see this around minute 40-45.. when he responding to the ETF/ETP questions, and is possibly based on some legal counsel that he received... it's good.. and a better way of describing his company...

Another point earlier in the video.. is that Saylor pretty much described (and reiterated) his mindset transformation to becoming favorable to bitcoin in March 2020.  He pretty much asserted that he was hostile to bitcoin prior to March 2020, and his opinion would have to invest zero into bitcoin as of February 2020 because he did not consider it to have any meaningful value - and so it becomes interesting about how strong Saylor's mindset transformation was, and then once he decided to get into bitcoin, he became more and more and more convicted to the whole idea (and follow up with actions).. He has described his increasing and increasing conviction about bitcoin in several ways and so it is not a bad theme to not only show how he got in, but also so that other people might be able to relate to potentially going through some kind of similar transformation.

I don't have any problem, really, with anything that he says, and surely he does reiterate his level of aggressiveness in such a way that individuals might end up misunderstanding in terms of being able to go  through periods of volatility (especially in times when bitcoin has negative volatility).  

Normies do not actually have to use leverage in order to get richie from bitcoin (and potentially richie as fuck) without even employing leverage.. and of course, if you are able to manage leverage, it is a more sophisticated strategy in which you can surely get rich faster than normal and you can also get poor from an asset (such as bitcoin) in which you would have been able to make  lot of money but you employed leverage badly (or bad luck).....

Remember https://twitter.com/muststopmurad?lang=en   ?

He was one of the BIGGEST of bitcoin bulls, but neither he, nor his investment company (focusing on bitcoin bullishness) really did not fair well in the March 2020.. crashening.... he pretty much fucked himself and his investors.. because of leverage (I believe leverage longs got liquidated) and haven't really heard much from him since March 2020.. though I had not heard about him scamming anyone - even though he just ended up using leverage badly.

In other words.. take an almost inevitable to be winning investment/asset (such as bitcoin) and convert it into a losing asset.. with leverage... or poor uses of leverage..

[OutOfMemory]

WO abandoned.  Only me and Chartbuddy left

I am reading WO from the smartphone as a guest over the day, working on the new chicken barn.

* OutOfMemory sends a #nohomo WO-hug over the net  

[icopress]

Disclaimer: I'm not sure who "they" are.

Guess the first time. BTC🦊

[heslo]

My greatest wish in life is that when she dies, there are numerous parades worldwide....

...not to honor her life, but to celebrate her death.

Joyfully singing "Yay, the wicked witch is dead!"

Fuck that wealthy elitist bitch.

Too bad she doesn't make movies with Alec Baldwin.

lol, too soon haha

I laughed... We're both going to hell

[ChartBuddy]

Explanation

[nanobtc]

As a music guy, 'mic drops' make me cringe. It's usually done by a performer that does not own the mic.

Note that they never do it with a high-dollar condenser, usually your basic dynamic mic. But still....

[JayJuanGee]

…….

Fuck crypto...

What is that?

That’s a naughty word that one posts if one wants to chap your ass, Jay…..

The above is so true... so very true...          (ouch!!!!)

And, on another note, you gave up on the cunt topic?  even after you saw the post-history evidence provided by yours truly?  

hahahahaha

Weak..;


Weak.


I must say..... weak....

…….

Fuck crypto...

What is that?

That’s a naughty word that one posts if one wants to chap your ass, Jay…..

what is this word that wields such power?

asking for a friend

Don't even go there.

 

[BitcoinGirl.Club]

Time to buy, don't miss it again.
Good evening WO.

[JayJuanGee]

Is this a deleted tweet?

A mistake?

What is this mysterious second US Bitcoin ETF?


Did a quickie search.. .must be the ETF described in the below-quoted/linked yahoo.com article.

>>>>>>>
"The Valkyrie Bitcoin Strategy ETF -- trading under the ticker BTF -- was down 2% from its inception price of $25 as of 10:54 a.m. in New York. More than 1.2 million shares worth about $31 million changed hands as of that time. Bitcoin, meanwhile, pared an earlier advance to fall as much as 1.9% to $61,506. The largest digital currency reached an all-time high of just under $67,000 on Wednesday."<<<<<<<<<

https://news.yahoo.com/second-u-bitcoin-etf-launches-133837968.html

Bit of HOPIUM in the middle of a correction
 


Will Clemente
@WillClementeIII
Delta top model starting to slope upwards, now above $117,000

IMO we still have a ways to go. Is based on the cost basis of investors and mean reversion, so will likely end up closer to $150k-175K towards the end of the year as prices moves higher, but that's just an estimate.
https://twitter.com/wclementeiii/status/1451554126769311746?s=21

photo upload site

I am still having some troubles with the way some posters/bitcoin analysts just presume this calendar year and end of cycle might be synonymous or their postings on the topic are so vague that they are not distinguishing (or specifying) end of calendar year versus end of cycle.. which likely causes some folks to presume that those two ideas are the same - even if the poster/bitcoin analyst had not intended to communicate the two ideas as the same.

[ChartBuddy]

Explanation

[JayJuanGee]

In times like this there are still those who say "Stay strong and do not sell!".

For years now it makes me feel like "they" want you to panic and sell your coins cheap. But "they" also want you to HODL because selling would lower the price further. Everyone in crypto has an agenda.
Disclaimer: I'm not sure who "they" are.

It feels scary though: being stuck in between "not worth it" and "FU-status" means I need to be patient.

Yes.. for sure, a dilemma to figure out the right kind of balance for uie pooie specifically.

Each of us has to come to a determination regarding what our BTC accumulation strategy is going to be (if any) and how aggressively we feel that we can be with our strategy.. to make it our own strategy and not merely based on what some other dweeb on the internet (including yours truly I must admit) is suggesting to be a good strategy.

There are quite a few considerations in order to attempt to achieve a kind of financial and psychological prudence.

including one of the considerations about whether selling might be a strategy for accumulating more BTC.. and for sure that is a tempting strategy that recks quite a few wannabe bitcoin accumulators who get too greedy for their own good.

It seems that I was a bit more ambivalent about the selling BTC to accumulate more BTC strategy in my earlier years i bitcoin, but I have come around to accepting that sellingBTC to accumulate more BTC is not a good strategy until you reach a kind of overinvested in BTC level (and even then... tread with caution)..   Not only does each one of us have to determine our own better (or best) strategy for setting a target BTC accumulation level (which also might not necessarily be a fixed target), we also have to determine our own better (or best) strategy for figuring out when we may well have reached a kind of level of "overinvested" which also might well be both a moving target and one that is quite difficult to pinpoint with certainty (so it could well be a kind of range).

By the way, I know that there are quite a few members in this here forum who have been cautious in their level of BTC accumulation over the years.. and sure whether that is $10 per week or $100 per week or more, sometimes there can be ways to become more aggressive, but surely how much delayed gratification that we are willing to take on can be quite the question too...  

Since bitcoin does seem to be a kind of asset that has a tendency to show a lot of profits on paper, and if we share some of that information with others, there are a quite a few folks who will suggest that profits need to be taken.. because there are needs to get joy in life.... and surely, I have several times described the "friend" who had accumulated around 17 BTC in early to mid 2015 in the lower $200s, and who sold those 17 BTC for $350 in order to make around $2k in profits and to buy a nice purse... and she would frequently say what the hell are you sitting on profits and not enjoying those profits.. but later she frequently would say that she could not get up to her once level of accumulating 17 BTC ever again.. and that was when BTC was in the $400s to $700s.. which was early 2016 and even in late 2016.... I am not sure about what is my point exactly except to suggest that sometimes the desires for consumption can be quite pressing and even pressed by others who have low skill levels when it comes to exercising some reasonable levels of low time preferences, but sometimes their low time preferences might merely be a product of not really understanding or appreciating bitcoin fundamentals (and accordingly its upside potential that could take years to play out with high levels of up and down volatility along the way).

working on the new chicken barn.

hahahahaha

a chicken barn... hahahahaha

I would call it a chicken coop... but hey, that might just be me.  

Time to buy, don't miss it again.
Good evening WO.

Fair enough...   buy dee dip.

Good evening to you too.. (or good day.. depending on where you might happen to be)

[OutOfMemory]

^ Well, "chicken coop" definitely is the better term.
Re-testing 60k it seems?

BTFD

[ChartBuddy]

Explanation

[vapourminer]

working on the new chicken barn.

hahahahaha

a chicken barn... hahahahaha

I would call it a chicken coop... but hey, that might just be me.   

well, while i may call my chicken coop a chicken coop too maybe outofmemeory has really, really BIG chickens.

perhaps.. perhaps?

[BobLawblaw]

Note that they never do it with a high-dollar condenser, usually your basic dynamic mic. But still....

I would probably murder the bastard that dropped my rhodium plated U87.

Absolutely serious.

[aesma]

Firework on Binance US.

Wow... I had not realized this until I saw your post, Paashaas. 

A bit strange for me, because of the way that I have been changing around my buy orders in recent times... Actually historically, some members here might remember that last year I had buy orders down to about $9k, but in recent times, I had considered ONLY maintaining buy orders down to the 208-week moving average, which is nearly $17k, but even based on my own moving around of values and even spending some my value, I have only kept buy orders down to $24k and on that particular exchange, I had only maintained buy orders down to $42k  (which started at $60k) - so all of my buy orders on that exchange (about 17 of them were filled between $42k and $60k).. cannot really complain... except such surprise filling of all of those orders did cause me to have to reset a number of orders and to consider how I was going to treat this whole matter in order to attempt to get my systems rebalanced... and yeah did mess me up in terms of further overallocating into BTC by filling those extra orders.. but who is going to complain about a discount - when considering spot price, right?

This has now been mentioned on French radio (BFM Business), of course the context was Bitcoin bashing, talking about the lack of liquidity. Which in a way is true, but selling as much corn in one go like that is stupid, someone has fucked up (or has been hacked, and you weren't the only one buying cheap coins...).