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

[ChartBuddy]

Explanation

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[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?

[JayJuanGee]

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.

Without getting too much into shitcoin discussions and comparison/contrast of various shitcoins, Raoul Pal does tend to provide decent arguments for both allocation of risks and taking gambles on upside performance, so it can be a wee bit difficult to assert that he is "doing it wrong" - even though on a personal level I have continued to have issues with spending any kind of meaningful time to study various possible Ethereum upside performance scenarios - because I am concerned about various rug pulls that could come at any time and including the fact that so many shitcoins and scams are built upon it, which causes me additional reservations regarding a variety of ongoing risks for crashes or breakenings of the systems underlying that seemingly smoke and mirrors project.. that could even remain sustainable for way the hell longer than anyone would consider to be possible... would we say ponzi scheme upon ponzi scheme but it keeps going and even various semblance of officialdom by having some credible players participating in that crazy-ass house of cards of multiple scammenings.

Of course, bitcoin has way stronger underlying foundations in which its base would not be so easily threatened, even if some scammy projects could end up still being built upon bitcoin too.. but like you summarize PPlayer.. there is a kind of foundational level with BTC that allows a very integral and intimate ability for individuals to be enpowered to be their own bank.. and even if neither banks nor governments disappear, they are likely going to have to adapt to foundational competitive aspects of bitcoin that cannot be stopped in any kind of meaningful or significant way - because of the way that bitcoin is designed, including proof of work in which no other coin or project has that - even if ethereum might try to present itself as the same thing and perhaps part of the aspect that remains so bothersome with Raoul Pal remains that he is part of the problem of obfuscating such differences in his touting and investing into ethereum that likely causes normies to be confused in terms of falsely equating that ethereum offers some kind of similar product (and even sometimes wrongly implying that ethereum is superior based on some possible short term pumpamentals that might actually seem to exist... .which does not take away from it being mostly vapourware that a whole hell of a lot of people are simultaneously pumping up... so surely short-term outperforming bitcoin does happen through those kinds of mechanisms but for many of us does not cause the ponzi-scheme natured crap to suddenly become "investible" merely because a bunch of snot-nosed retards (ok. I am exaggerating a wee tiny bit just to make a point) - including Raoul Pal.. hahahahaha.. are jumping on the bandwagon).

[naim027]

Good morning Bitcoinland.

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

Time for a serious move upward.

I hope we won't see another Floor Cracking move instead.

[Biodom]

I generally agree on eth, which has MANY flaws with huge pre-mining being the most galling example, BUT the darned thing has momentum and there is some chance that it (or some other coin peddled by investment banks) would "flip" bitcoin.

I would be sad if it happens.

The main cause of that potential flip would be that less people (especially, developers) are working on bitcoin vs ethereum, hence less people improving it.
Human endeavors with more people actively involved tend to progress faster.
However, what do I know? Maybe eth itself would be supplanted (since it is darned expensive to use) by some other protocol, which seem to be growing and getting allegiances incredibly fast right now.

TL;DR poo-pooing eth is justifiable, but it is a strong competitor that is not to be easily disregarded.

[Torque]

TL;DR poo-pooing eth is justifiable, but it is a strong competitor that is not to be dismissed.

It is not.

Do you want to actually debate this statement, or like everyone else do you want to make a blanket generalized statement without evidence to support it?

Momentum in price is not evidence that ETH contributes anything.

[cAPSLOCK]

This Michael Saylor Tucker Carlson interview might be more important than we might think...