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

[cAPSLOCK]

#Bitcoin is now more valuable than $TSLA, $FB and is the 6th largest asset in the world by market cap. Next up: $AMZN

https://twitter.com/Bitcoin/status/1457706508213497856

With a few differences.

- TSLA, FB and AMZN can print more shares and dilute the value.

- The shares and the value were first issued by one owner (person or group), then sold.

As Bitcoin becomes more and more of a denominator, then when AMZN or TSLA print more shares they tacitly increase Bitcoin's value precisely because it cannot be diluted.  But since the value of those shares is becoming more and more translated into Bitcoin - Bitcoin HAS to become more valuable to accomodate the continued *creation* of value.   The magnitude of this coming feedback loop is incredible.  And i't BARELY kicking in at all at $65k.

The fact that Bitcoin is THE coming base monetary layer has NOT really been priced in AT ALL yet.

[1714245338]

1714245338

[1714245338]

1714245338

[1714245338]

1714245338

[1714245338]

1714245338

[Phil_S]

Depeche Mode - Route 66
https://www.youtube.com/watch?v=CLC4TLDlFFo

[ChartBuddy]

Explanation

[bitcoinPsycho]

MISSING

[JayJuanGee]

Until we go well above 70k and stay there I'm not going to even fake excitement.
I'm so tired of the 60k range now that I'm only irritated by this yoyoing in that range.
Piss or get of the pot.

Patience young padawan.

$60ks should not be THAT bad....


Seems that we HODLers (no need for "royal" right?) should not be suffering - merely because we are spending a few weeks longer than "hoped" in the 60ks.

And if you really consider the matter, we ONLY have a total of 32 days (if including today) in all of the life of king daddy in the $60ks...

See these daily weighted averages:

     BitStamp USD/BTC             Kraken EUR/BTC           CoinFloor GBP/BTC            Kraken CAD/BTC             Bitflyer JPY/BTC
 ------------------------    -----------------------    -----------------------    -----------------------    --------------------------
   1  2021-10-20  65,701  |   1  2021-10-20  56,204  |                          |                          |
   2  2021-10-21  64,502  |   2  2021-10-21  55,213  |                          |                          |
   3  2021-04-14  63,314  |   3  2021-11-02  54,458  |                          |                          |
   4  2021-10-19  63,168  |   4  2021-10-25  54,110  |                          |                          |
   5  2021-04-15  62,948  |   5  2021-11-03  54,101  |                          |                          |
   6  2021-10-25  62,745  |   6  2021-11-07  53,978  |                          |                          |
   7  2021-11-03  62,607  |   7  2021-10-19  53,893  |                          |                          |
   8  2021-11-02  62,446  |   8  2021-10-26  53,526  |                          |                          |
   9  2021-11-07  62,216  |   9  2021-11-04  53,440  |                          |                          |
  10  2021-04-13  62,142  |  10  2021-10-22  53,435  |                          |                          |
  11  2021-10-22  62,069  |  11  2021-11-05  53,365  |                          |                          |
  12  2021-10-26  61,895  |  12  2021-10-30  53,239  |                          |                          |
  13  2021-11-04  61,788  |  13  2021-10-18  53,089  |                          |                          |
  14  2021-10-18  61,674  |  14  2021-04-14  53,063  |                          |                          |
  15  2021-10-30  61,605  |  15  2021-11-01  52,903  |                          |                          |
  16  2021-10-29  61,534  |  16  2021-10-29  52,890  |                          |                          |
  17  2021-04-16  61,477  |  17  2021-11-06  52,875  |                          |                          |
  18  2021-11-05  61,449  |  18  2021-10-31  52,760  |                          |                          |
  19  2021-11-01  61,301  |  19  2021-10-16  52,710  |                          |                          |
  20  2021-10-16  61,253  |  20  2021-04-15  52,622  |                          |                          |
  21  2021-04-17  61,112  |  21  2021-10-23  52,393  |                          |                          |
  22  2021-10-31  61,084  |  22  2021-04-13  52,306  |                          |                          |
  23  2021-10-23  61,064  |  23  2021-10-24  52,072  |                          |                          |
  24  2021-11-06  60,862  |  24  2021-10-17  52,070  |                          |                          |
  25  2021-10-17  60,684  |  25  2021-10-28  51,859  |                          |                          |
  26  2021-10-24  60,480  |  26  2021-10-15  51,844  |                          |                          |
  27  2021-03-14  60,429  |  27  2021-04-16  51,440  |                          |                          |
  28  2021-04-12  60,169  |  28  2021-04-17  51,320  |                          |                          |
  29  2021-10-15  60,134  |  29  2021-10-27  51,101  |                          |                          |
  30  2021-10-28  60,130  |  30  2021-04-12  50,496  |                          |                          |
  31  2021-04-10  60,036  |  31  2021-04-02  50,439  |                          |                          |
  32  2021-04-11  59,796  |  32  2021-04-11  50,167  |                          |                          |
  33  2021-03-13  59,670  |  33  2021-03-14  50,051  |                          |                          |
  34  2021-04-02  59,377  |  34  2021-04-01  50,044  |                          |                          |
  35  2021-10-27  59,369  |  35  2021-04-10  50,010  |                          |                          |

I am thinking that it could not really be as torturous as you are proclaiming Arriemoller.....


Sure... I will grant you that it may well seem like a long while going through these $60ks.. and yeah, I have been guilty, as well, to be looking at the price charts at least a couple of times an hour - if we average it out.. and yeah.. maybe it is possible that I can skip a few hours checking the BTC price charts.. especially while I am sleeping.

I am still thinking that it is quite likely that this supposed price stagnation (in the $60ks) will not even appear as much of a blip on the radar screen when zooming out (at least in retrospect).. there were several members here complaining similarly about the $50ks earlier this year, and yeah we had spent about 3 months hanging out in the $50ks between mid February and mid-May... .. and then we largely took a break from the $50ks for about 4.5 months.. even if we did spend a bit of time in the $50ks and then passed through the $50ks fairly quickly in the past month.. and sure hanging out here in the $60ks.. for a few weeks.  I am having some troubles getting too depressed about this.. Maybe I should try harder on my marshmallow test.. to take the marshmallow rather than wait...   It's me.  not you arrie parri.

[cAPSLOCK]

I think the chance is likely we see it fail late in this "cycle", which is really fairly soon...

Salty cow.





Salty cows everywhere.

 

@JJG - Note that @cAPSLOCK talks about S2F likely failing late in this cycle, but he doesn't specify if it will fail on the downity or the uppity.

Some peep was not pee-pared to this plot twist? Perhaps? Perhaps?  

I think there is a CHANCE it fails in this cycle.  And I think it breaks to the upside. 

But I think there is probably a greater chance it fails in a later cycle.  But it does fail eventually... it has to.  I am pretty sure the creator of it says that as well.

Wanting to add this.  The creator of the Bitcoin S2F model ALSO has a belief that his model will break to the upside.  He does not SAY that very often in interviews, or writing.  Perhaps that is because he does not want to live through the lambasting that will come if he is wrong.  But his actions give his position away...

His "cross asset" model is there to pick up the debris when his pure Bitcoin S2F model gets wrecked.  So you can see which way HE is hedging his predictions very clearly if you look.

[d_eddie]

Xactly, @cAPSLOCK, xactly.

[Phil_S]

page 30000 soon...

[ChartBuddy]

Explanation

[TheJuice]

you should automate the fee structure.

How? Using RTL right now to manage things.

This is what I use: https://github.com/accumulator/charge-lnd

[rdbase]

https://twitter.com/naiiveclub/status/1457633664561340420?s=21
Dammit found some RL footage of myself on Twitter today

Depeche Mode - Route 66
https://www.youtube.com/watch?v=CLC4TLDlFFo

Trading view shown it at $66,666.00 for the day's ATH.

page 30000 soon...

WO ATH soon! I want to see who will be the first to post on that page.
They'll deserve a metal!

[BobLawblaw]

What happens if you just let it ride.

I'm letting it ride. Doesn't make sense to "ragequit" the node. Just more upset that I'm having trouble balancing meatspace with digitalspace kinda deal. Getting pulled in a lot of different directions lately, and I don't multitask very well. Rick is the multitasker. I'm the retard caveman that can only solidly concentrate on one thing at a time.

I'm trying desperately not to load up another BTC onto the node, and try to babysit that 1BTC *JUST FOR LOOP CHANNELS* - I really want to try to figure this out. Throw myself against the rocks sorta thing until I get it. I'm a fucking idiot like that.

It's only been made worse since Rick has retired, and has nebulously talked about "Oh, I should learn Lightning and write a deep-learning autobalancer for you" - so... yeah. Dude likes to talk the talk... I'm the guy that walks the walk.

Holy cow do Rick and I ever have some amazing blow-ups, I'll tell you that much.

Goddamnit.

EDIT: https://www.youtube.com/watch?v=feW1kHyNSpI
Stereo MC's - Elevate My Mind (Official Video)

[Wekkel]

From a regular market observation article :

"one does not have to expect revolution to believe our current system isn’t sustainable: it can just as easily fall apart if every ‘peasant’ quits the physical economy and trades crypto."

He could even be right 

[LFC_Bitcoin]

WO ATH soon! I want to see who will be the first to post on that page.
They'll deserve a metal!  medal!

FTFY rdbase.

[cygan]

page 30000 soon...

BTC $70000 soon...

[ChartBuddy]

Explanation

[cAPSLOCK]

Looking at the three day chart I am seeing (on ALL exchanges) a raging bull market with almost no volume at all.

I think this is EXTREMELY significant.  Because it means one of two things (or maybe both):

1.  The markets are being manipulated in concert at multiple exchanges worldwide.
2.  Something is taking the sell walls down at the exchanges but it is not buying at those exchanges.  Then the little bit of buying happening at the exchanges is cruising up to the higher sell walls, which are also likely to be pulled sooner than later.

As much as I have come to believe #1 is an actual possibility (I used to be VERY dubious about various paranoid market manipulation theories) I just do not see it being done this way at this time.

I know I keep saying the same thing over and over about dark pools etc.  But I cannot find any other explanation.

What this is doing, in my opinion is significantly muting the price action that would otherwise be evident along with the volume on the exchanges.

It is as if the world is playing Jenga with money.  The central banks keep adding more and more money to the top of the pile, and at the same time the professionals are pulling their dollars off the bottom of the stack and putting them at the top too by buying BTC (and real estate, and stocks, and PMs and watches etc).

All the while the smartest billionaires are coming to the conclusion that Saylor is shouting from the rooftops.  There is a nascent system that has the closest thing the world has ever seen to being a perfect store of value, cannot be manipulated at the protocol level, and is being developed QUICKLY into several networks, particularly a payment network.

No one wants the current system to come crashing down.  All of the current players are working as HARD as they can to avoid that scenario.  Because many of them have realized they are to heavy in cash.  This whole game Musk is playing with twitter?  I have lost a lot of respect for him, but I think he knows what he is doing here.  the TSLA stock price is made out of the house of cards that is the current financial system.  And that system is under attack as we have moved into WWIII.  But so far the people who have awakened enough to see it are still in the minority.  But I think Musk sees it.  It will be interesting to see what he chooses to do if he goes through with crashing his own company's stock price as well at the markets.

At any moment I expect the Mayor to come back in here asking for more of our pants.  (newer WOs won't get that one)

[proudhon]

MISSING

You rang?

[shahzadafzal]

World is changing…!!!

[ChartBuddy]

Explanation