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

[ChartBuddy]

Explanation

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[Richy_T]

I still think on / after Thanksgiving we are going to get a boost. Just like in 2017.

Next inflation figures (USA) coming out December 10th.

People gradually realize that the best time to buy Bitcoin was Jan 3 2009 but the second best time is today.

[goldkingcoiner]

Meme aside is it really possible to earn some Satoshis with couple of descent ASIC miner machines in the garage?

Only if you have really cheap electricity.

You can always produce your own electricity.

[ivomm]

I'm aware it has nothing to do with how much money is required to move the market etc, this is based on liquid supply as well as demand, but it's incredibly relevant to institutions. Many of which aren't able to touch an asset, or consider Bitcoin as a reserve asset, unless it's worth >$1 trillion. Others will be more conservative, they won't go near BTC until it's valued at $2 trillion, $3 trillion or even $10 trillion (private banks). Some will even be patiently waiting until it's worth Gold's $20 trillion, and won't touch it with a barge pole until then. State banks I imagine. The lower the risk required, the longer they will wait before adopting Bitcoin as a reserve asset. Bare in mind very few institutions are currently using BTC in this manner so far, even if enough have already dipped their toes in the water.

My point was, when a certain valuation threshold is reached, there are certain institutions that will be forced into purchasing in order to reduce risk, hence $60K holding for so long earlier in the year imo. The market was overvalued but remained as such for 3 months around $50K-60K, much longer than many expected. Whereas previously consolidation at such overbought levels is unprecedented for BTC.

This post cointains some new and useful information, which I bolded. However, regarding the red coloured text I strongly dissagree.  There are several market indicators which are showing that the fair value of Bitcoin should be >60K. One is the adoption acceleration, measured by the new addresses and investors. The others are related to demand/supply, mining rewards, etc. As a proof we see that after only 6 months the same price level was reached with half the volume, i.e. this price is probably way lower than the fair price. Nobody knows the fair price, but it is somewhere between the last stable price and the blow-off top which can stand only a week or two. In our case this is >70K for sure. Not to mention that at the local bottom of 30K-40K we were below the current market cap of one of the longer living shitcoins   So there is no way this to be the fair value, if this is what you are implying in your post.

[Richy_T]

 Being a shift-worker, I was always looking for something to help me switch back and forth.  Light therapy works and while there's nothing like natural sunlight, bright white LEDs seemed to do the trick.  I find it strange though how something called a SAD lamp can make one happy.

 https://www.healthline.com/health/sad-lamp

I think SAD was something of a backronym so there is a logical path to that usage.

 There's also some research about light in the ears being beneficial and one company has come up with earbuds (sound capable!) to help with that.

 https://humancharger.com/global/

 I wonder when they'll come up with something similar to aid in perineum sunning?  Would it also come with sound?

Possibly maybe they should try making the sun shine where the sun don't shine.

And then I said, supposing you brought the light inside the body, which you can do either through the skin or in some other way

[AlcoHoDL]

Kraken Intelligence — Ain’t Over ‘Til It’s Over

Some Bitcoin-relevant, shitcoin-sanitized highlights:

• HODLer’s Delight
  Supply is rapidly exiting exchanges, a common indication that market participants may be moving funds into cold storage for long-term holding. Since June: The amount of BTC sitting on exchanges fell by 9.6% to a 3-year low of ₿2.426 million ($139.8 billion) amid greater demand and dwindling immediately marketable supply. With a smaller supply pool available for trading, further demand could tighten the supply squeeze and drive BTC prices higher.

• Not Yet ‘Overbought’
  For as fast as prices have risen to new all-time highs, BTC’s Reserve Risk metric indicates that the asset is far from overbought, and that confidence in the current price level is greater than it was during prior all-time highs reached in May.

Still bullish. Still hope for soaring BTC ATHs in 2021. HoDL.

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[Paashaas]

https://twitter.com/AllenAu11/status/1463199571945816070

[BobLawblaw]

[ChartBuddy]

Explanation

[Biodom]

^ [re pic above] wouldn't that be too distracting, lol.

[xhomerx10]

 

[philipma1957]

Looks more blue than green. for shame.

edit I see someone has fixed it nice work homer

[El duderino_]

Respect your ways, but far from my set up tbh

[bitcoinPsycho]

My trading holding setup

[El duderino_]

 

Not mine either 

[ChartBuddy]

Explanation

[Farmer Bill]

How many acres you have?
Are you in a state that will promo solar?

Ie 200 acres for crops could have 10 acres set for solar if you are in the right state.

10 acres for solar could be 2 megawatts which translate to about 333 kwatts 24/7/365 if you can grid tie.

depends on the state you are in.

1200 acres of row crops, and 100 acres of woods.

Yeah you certainly have the room. The question is what programs does your state have.


We have

 a 45kwatt array  on a commercial building
 a 115kwatt array on a 3 acre property part ground mount part on a barn part on a home.
 a 350kwatt array in progress on a warehouse complex that house our main mining farm.

on grid tie setups take the full power number divide by 5 to 6 to get the 24/7/365 number

so

45+115+350= 510/5 = 102 to 510/6 = 85

so they will range 85-102 kwatt 24/7/365 average depending on a rainy year vs a dry year.


so 85 x 24 x 365 = 744600 to  102 x 24 x 365 = 893520

744600 kwatts is 29,784 usd a year at 4 cents 595568 usd at 8 cents.  and at current btc mining of 18 cents  134028 usd

893520 is 35740 4 cents 71481 cent and at current btc mining of 18 cents  160833

I use 4 cents as the power company will pay 4 cents for your power
I use 8 cents as you are allowed to sell to you neighbor at 8 cents

the 18 cents is tricky a kwatt will run an s9 at 11th  11th earns 3.52 /24 = 14.67 cents  so all s9's will do only 14.67 cents not 18 cents.  but an s17 will do 50 th at 2 kwatts or 16 / 48 = 33.33 cents earnings per kwatt

so if you have some s9 and some s17 and average 14.67 with 33.33 you get  18  cents or more or less. In our case we are more likely earning 25 cents for each kwatt we burn.

which means next year when we build all the solar we will earn about 223380 for the solar power we generate. this excludes all government subsidies.

The small arrays are paid off. The big one will finish in the spring of 2022 and with luck pay off in 4-8 years.

Unless we get a monster runup.

Good insight into solar power and real life figures applied to your mining operation and profitability at current prices.

What is the likely capital outlay of your 350Kw installation?


 

[fillippone]

Best Tweet of the year!