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

[Torque]

I was leaning on the idea that @jack was a bleeding heart idealist type, and he was the one responsible for the corporate "censorship" Twitter has performed along with the other centralized social media platforms.

But I may have been wrong.  He may have been holding back the floodgates...

What the actual $%#$ is "Content Health"?  Never mind.  You can tell by it's choice of words EXACTLY the lines this asshole is going to draw.

Good grief.  This is going to be quick...

It's like I told ya dude. Jack was the face man of Twitter, but he was ultimately beholden to the board and the investors. They were the ones pulling the strings. Often he got pushback when he stood his ground on things, or got overruled.

I'm sure that the pressure to implement policies and practices that he was not happy about, and went against his moral compass, ultimately lead to his ouster.

[ChartBuddy]

Explanation

[Torque]

Is it just me or does Raoul Pal just talk a load of nonsense and always gives a very vague roundabout answer to every question? 

Surprised to see so many people have a complete orgasm when he appears on crypto channels such as InvestAnswers today.

What's up with the weird red barber chair behind him? Is he really just a local barber in the Caymans and disguised as a hedge fund manager?

I think one comment on the video about Pal hit the nail on the head:

"The one thing I don’t like about Raoul is he uses crypto as a way to maximize his USD. He’s a fiat maximalist disguised in crypto clothing."

To me he just seems to back what he thinks is the fastest horse without any justification other than being lucky, switching from BTC to ETH: "I saw it when the chart changed."
Whatever...

I stopped listening to him when he made it clear that he prefers shitEthereum to Bitcoin. He does this on the basis that the user base is going to grow much more, and this year shitEther has gone up more than Bitcoin, so yes, the only thing he cares about is the return it gives him in fiat USD.

I prefer Bitcoin for other reasons. Obviously, if we believed that bitcoin would not give us any return, or even losses, none of us would invest in it. But even though there may be shitcoins that have more return than bitcoin in the future, and even though the parabolic price rises might be over for Bitcoin (which remains to be seen), it is worth investing in because it frees us from the clutches of central banks and governments.

Why I'm suspicious of Ethereum:

• No specific supply limit set, only now that the devs / Vitalik can see what a limit has meant for BTC and Eth competitors are they wanting to go down the deflationary / burning route. This does not give great confidence in the original idea behind Eth I think. More like a market reaction which puts it more in line with things like stocks (company stock by back stuff etc). This means in future they can just release another trillion Eth if they feel like it. But the devs / Vitalik would sell their own stash first obviously.
• It's heavily dependent on other "iffy" things such as NFTs and "Binance Smart Chain" which is an absolute nonsense system to use, I mean a browser plug in, wtf is that nonsense in 2021. I think the majority of all these things running on Ethereum will fail and be forgotten about in the next 5-10 years max.
• When BTC drops, Eth appears to drop harder. Yes Eth has grown against BTC over the last year but look at what happened end of 2017 - beginning of 2018, Eth is only just catching up where it was against BTC back then. It is not a long term hedge against BTC if that happens again.
• ETH has a lot of competition which seems to be attracting many devs, such as Solana. BTC has proven to survive competition and forks and is still king after 12 years. Eth less than 5 years on 2nd-3rd place.
• ETH nonsense high gas fees. We have recently seen billion dollar plus movements on BTC's blockchain that cost less than a dollar. Why would a competitor to BTC even end up in this situation?

None of this stuff is ever addressed by Raoul Pal, so he just comes across as a shiller rather than someone who has critical thought.

It is disappointing to see James from InvestAnswers who is already suspicious of Eth's growth also not bring any of these points up in his talk with Pal.

When you put in even 5 minutes of research into shitEthereum to find out that it's a giant scam platform with zero redeeming humanitarian value long term, then you realize that investing in shitEthereum is both immoral and antithetical to the goals of Bitcoin. The only people that are going to get wealthy with shitEthereum are Vitalik and all the other scammers who he sold his pre-mined coins to.

Also, beware the so-called "crypto experts" who start off evangelizing Bitcoin, only to pivot away to some shitcoin after they have gained their followers' trust. They were a bullshit wolf-in-sheeps-clothing all along who never truly believed in the ideology and goals of Bitcoin.

[cAPSLOCK]

Sorry the rock has you down... I'll send you a beer's worth of corn to your node.  Buy a beer with it on cAPS.

I have no idea what's going on, man...

EDIT: I'm a retard, and had to look through various tabs to see that you sent me 8,750 sats. Holy crap thanks man. Totally unnecessary, but absolutely appreciated. Cheers dude!

This was predicated on the concept that beer cost something in the <$5 realm.  But you might like one of those really fancy ones that is more in the bottle of wine pricing zone...  dunno.

There is a local brewer I have become extremely fond of:  https://manhattanproject.beer/

All nuclear themed.  They call their yellow pilsner "Necessary Evil".  Which is very clever in my opinion.  But it, like all the beers they make, is immaculate and delicious.

I can reccomend the taphouse as a nice place to have a date night.  The wife and I have gone.  But that was when it was still warm enough to sit on the patio.  It is getting less so now.

[Torque]

OT: Watch what the politicians do, not what they say.

What they say: "We need more affordable home building in the U.S. !"

What they do: https://www.cbc.ca/news/business/softwood-lumber-1.6262036

[ChartBuddy]

Explanation

[philipma1957]

THAT time of the year is approaching so why don't we support king Daddy with our gay xmas cards early?  

Hey that one is for the ladies Santa will be stuffing their stockings very soon.

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[Torque]

Since it appears it is a slow day and ChartBuddy is having all the fun, here's some alt news that the MSM refuses to cover:

[ChartBuddy]

Explanation

[bitcoinPsycho]

https://metro.co.uk/2021/11/30/pokemon-go-creator-niantic-launches-bitcoin-hunting-ar-game-15690630/




"Every 10 minutes, a new block containing a fresh prize will be dropped in the vicinity of a player. By claiming the block, the user earns ‘Satoshis’, the smallest unit of Bitcoin"

[wuclx]

Burning is one of the most damning points of ETH. It takes coins from users and funnels them to the whale miners/stakers. It can only lead to more centralization.

Making already expensive transactions even more expensive by taxing the users with additional fees via burning seemed quite odd to me as well.

[JimboToronto]

Good morning Bitcoinland.

Still bouncing along in the $5xxxx range... currently $58402USD/$74455CAD (Bitcoinaverage).

Time for a serious move upward.

It's like I told ya dude. Jack was the face man of Twitter, but he was ultimately beholden to the board and the investors. They were the ones pulling the strings. Often he got pushback when he stood his ground on things, or got overruled.

I'm sure that the pressure to implement policies and practices that he was not happy about, and went against his moral compass, ultimately lead to his ouster.

Or maybe he just wanted to retire and live happily ever after.

Look at Microsoft. Gates went on to face senate subcommittees and live his life with the suits.

Paul Allen retired as a multi-billionaire, bought the world's biggest yacht and private submarine, started theme parks and museums, and spent $20m to help Bert Rutan win the $10m Ansara X Prize.

Who was smarter?

When you put in even 5 minutes of research into shitEthereum to find out that it's a giant scam platform with zero redeeming humanitarian value long term, then you realize that investing in shitEthereum is both immoral and antithetical to the goals of Bitcoin. The only people that are going to get wealthy with shitEthereum are Vitalik and all the other scammers who he sold his pre-mined coins to.

Also, beware the so-called "crypto experts" who start off evangelizing Bitcoin, only to pivot away to some shitcoin after they have gained their followers' trust. They were a bullshit wolf-in-sheeps-clothing all along who never truly believed in the ideology and goals of Bitcoin.

Post of the day (year?).

I was present when Vitalik unveiled his plan to create Ethereum at Anthony DiIorio's Bitcoin Decentral (as it was called then) on Spadina Ave., Toronto in January 2014.

We were all offered the chance to buy in cheap in the pre-sale, but he only accepted real Bitcoin, not dollars.

While I was fascinated by his concept of smart contracts and liked his idea of multiple mining algorithms, I was appalled at the pre-mining, unlimited supply, and general lack of decentralization. My alarm bells started ringing. I smelled scam. I took a pass.

Sure, I could have made a lot of money. It made a multi-billionaire out of Anthony.

I wasn't into Bitcoin to try to make money though. That just happened. I was originally attracted by the decentralization and peer-to-peer networking. When I'd first discovered Napster, it wasn't, "oh boy, free music", it was "oh wow, p2p file sharing". I watched as it morphed from fully centralized Napster, through Gnutella, to Bittorrent, and then to Magnet Links, becoming more and more decentralized as it went. When I saw that Bitcoin combined that with the monetary system, I was sold. I saw Bitcoin as doing for wealth what the internet did for information.

Within a year, DiIorio had dropped the word "Bitcoin" from Decentral and turned it into a for-profit business. Sorry Anthony, your shearling coat doesn't cover up your wolfishness.

OT: Watch what the politicians do, not what they say.

What they say: "We need more affordable home building in the U.S. !"

What they do: https://www.cbc.ca/news/business/softwood-lumber-1.6262036

Precisely. Dude, you're on a roll today.

[virasog]

When you put in even 5 minutes of research into shitEthereum to find out that it's a giant scam platform with zero redeeming humanitarian value long term, then you realize that investing in shitEthereum is both immoral and antithetical to the goals of Bitcoin. The only people that are going to get wealthy with shitEthereum are Vitalik and all the other scammers who he sold his pre-mined coins to.

Also, beware the so-called "crypto experts" who start off evangelizing Bitcoin, only to pivot away to some shitcoin after they have gained their followers' trust. They were a bullshit wolf-in-sheeps-clothing all along who never truly believed in the ideology and goals of Bitcoin.

[Torque]

I was present when Vitalik unveiled his plan to create Ethereum at Anthony DiIorio's Bitcoin Decentral (as it was called then) on Spadina Ave., Toronto in January 2014.

We were all offered the chance to buy in cheap in the pre-sale, but he only accepted real Bitcoin, not dollars.

While I was fascinated by his concept of smart contracts and liked his idea of multiple mining algorithms, I was appalled at the pre-mining, unlimited supply, and general lack of decentralization. My alarm bells started ringing. I smelled scam. I took a pass.

Sure, I could have made a lot of money. It made a multi-billionaire out of Anthony.

Great story Jimbo! And so true about ETH.

I remember the days on the WO thread when ETH (then ETC) was around $0.50/etc, and even Adam was going around saying "Anyone want to buy 1000 etc from me? Lol."

No one that had looked into ETC would take him up on it. That spoke volumes.

I wasn't into Bitcoin to try to make money though. That just happened. I was originally attracted by the decentralization and peer-to-peer networking. When I'd first discovered Napster, it wasn't, "oh boy, free music", it was "oh wow, p2p file sharing". I watched as it morphed from fully centralized Napster, through Gnutella, to Bittorrent, and then to Magnet Links, becoming more and more decentralized as it went. When I saw that Bitcoin combined that with the monetary system, I was sold. I saw Bitcoin as doing for wealth what the internet did for information.

Same here. The potential to make any profit from ETH never mattered to me, what mattered is that it had all the hallmarks of a scamcoin from the very beginning. And since then nothing has changed, except that the scam has gotten bigger, and worse. The people involved are being gaslit into believing something that will never be true.

[JimboToronto]

When you put in even 5 minutes of research into shitEthereum to find out that it's a giant scam platform with zero redeeming humanitarian value long term, then you realize that investing in shitEthereum is both immoral and antithetical to the goals of Bitcoin. The only people that are going to get wealthy with shitEthereum are Vitalik and all the other scammers who he sold his pre-mined coins to.

Also, beware the so-called "crypto experts" who start off evangelizing Bitcoin, only to pivot away to some shitcoin after they have gained their followers' trust. They were a bullshit wolf-in-sheeps-clothing all along who never truly believed in the ideology and goals of Bitcoin.

And every time some sucker pays hundreds or thousands of dollars for an NFT of a free jpeg, Vitalik and Anthony get richer.

[ChartBuddy]

Explanation

[jojo69]

Hey that one is for the ladies Santa will be stuffing their stockings very soon.

[Hueristic]

OT: Watch what the politicians do, not what they say.

What they say: "We need more affordable home building in the U.S. !"

What they do: https://www.cbc.ca/news/business/softwood-lumber-1.6262036

The U.S. says Canadian lumber producers dump their product into the U.S. at a lower price than American lumber companies can because they are subsidized. So the U.S. puts a tariff on all softwood lumber from Canada to raise its price at the retail level, which encourages consumers to buy American wood.

What are these subsidies they speak of?