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

[JayJuanGee]

RIPPLE CHAIR PROPOSES PLAN TO MOVE BITCOIN AWAY FROM PROOF-OF-WORK. $XRP $BTC #BTC

lol

I am with AlcoHoDL on this one... regarding how there is any kind of relevance to BTC's consensual direction.. and surely even you are seeming to recognize the absurdity of the whole matter (going by your "lol" commentary). 

One of the misleading and even deceptive aspects is for a variety of shitcoiners and Bitcoin FUDders to actually consider that there is any kind of snowball's chance in hell that bitcoin would actually move away from proof of work at all..   Even you, Raja, likely recognize that proof of work is the actual invention/contribution of bitcoin that causes it to be so god-damned powerful and difficult to defeat in any kind of way... .. so yeah, there are a lot of newbies, ignoramuses and/or fud spreaders who are just going into looney lala land if they believe that proof of work is actually on the table as "changeable" in any kind of direction that they are proposing... in other words, let's put down the gauntlets here and really see how many actual bitcoiners (people who actually recognize and appreciate what bitcoin is and what it is doing) will tell the disingenuous misleading dweebs to fuck off.

On the actual topic of BTC stackening.. and particularly the stackening of uie-pooie Raja...  can you see an opportunity to buy some or all of your BTC back (perhaps as much as 0.21) from your last summer (2021) sale?   or?  are you still waiting for BTC's spot price to meet the 200-week moving average (currently the 200-week moving average is slightly more than $18k)?

If you are waiting for BTC spot price to meet the 200-week moving average, then your odds of success would be quite a bit higher in a bear market, and still seems to me that we are not in a bear market - even though assessments can reasonably differ, and subsequently I could be proven wrong concerning where we are at, currently...

I would think that many of us (in these here parts of the WO) consider that at some point you are likely to lose your opportunity to buy back your BTC (your whole BIG-ass stash of 0.21) for less than $55k because if we get decently-sized UPpity especially getting into the 6 digits (probably not going to happen in 2021, but 1st three quarters of 2022 still seem decently in play), then even if BTC spot price does end up subsequently getting down to the 200-week moving average, then such event would likely be at a BTC price that is higher than $55k...  .. just saying.. and surely nothing is guaranteed in Bitcoinlandia...

I saw this PlanB tweet after I had already drafted and posted my above post... and surely I think that PlanB and I are saying similar things - but he seems to like to get his lil selfie into trouble with his use of absolutes... but whatever.. he can do his lil thingie..

I coined what I consider a pretty cool saying on the subject.


When you speak in absolutes, you are Always wrong.

Hahahaha

Good one.

It's almost like: "never say never."

[cygan]

Short-term volatility > long-term debasement

https://twitter.com/LinaSeiche/status/1469388205682311171

[JayJuanGee]

Aside shower thought:

I know quite a few here on WO have followed PlanB's S2F model for some time now, and some of you may really believe in it strongly.

But I would ask you to look at it from another angle.

PlanB and his model appeared out of nowhere, right as the new bull cycle was taking off in mid-2020. Seems a bit convenient timing, doncha think?

That's bullshit Torque.  The ideas that PlanB built upon were already very present...  PlanB put already existing ideas into a model in which he plotted out the data and said the same things that people were already saying.. he just put it in a package that caused it to be way more understandable.. even causing some people (are you one of them) who speculated that he was saying something new and innovative.

Well if you have been around for many years here on WO, you would know that we see some rumor of future bullish news come out at the start of literally every single bull cycle. Every time, it was always pointing to some bullish "sure thing" just over the horizon, whether it was "Wall Street is coming to pile in!" or "Amazon and Facebook are going to adopt bitcoin!" (2013), or "A Bitcoin ETF launching any day now!" (2016), and this past year "PlanB's S2F model predicting $200K+ by Q3 2021!" (2020-2021).

Well that's true.  There are always outrageously bullish ideas out there, and of course, those kinds of outrageously bullish ideas are going to have more resonance when the BTC price is going up.. but those kinds of outrageously bullish ideas are always out there... even during the doldrums of bear markets.. but they do not resonate very much during the doldrums of bear markets.

Look, I get it.

For sure, you get some aspect of a lot of these matters, but you have a tendency to go way the hell out there with your bullshit conspiracy theories... and sure maybe every once in a while there is more truth to it than what would appear, but you do seem to love the outlandish conspiracy theories and to downplay some of the more normal explanations that should also contribute to what is happening.. besides the ever-present conspiracy angle that you seem to like to harp upon.

We all love and want some bullish rumor of future news to hang our hat on and get excited about. That's human nature. But they always do this stuff to draw in the get-rich-quick n00bs to buy Bitcoin at over-leveraged, over-inflated high prices during the bull run. That's their purpose. And if you stay a hodler long enough and are observant, you'll be able to recognize this same pattern over and over again.

I suppose that you are not really wrong about people being inclined to want to gamble and want to be gullible and tend to fail/refuse to adequately engage/practice risk management.  Furthermore there are people who take advantage of aspects of human nature... . but you are taking this a bit far in terms of trying to suggest that everyone a lemming.. and yeah, maybe we have to go back to the 80/20 rule and surely even sometimes those in the 20% will also get sucked into some of the same traps before figuring out that "it's a trap!!!"  I have been lured into several traps in my years of living (it's a never ending phenomena), and frequently I have to keep my guards up from getting lured into additional traps - even after feeling like through the years, I have learned about a lot of the various kinds of traps.

So please consider that PlanB could just be another insider plant by the whale traders to spin bullish hopium. There are never any "sure things" wrt Bitcoin.

For sure, we should be taking any and all information with a decently-sized grain of salt.. .. and surely you are going a bit overboard on this...    but hey.. you do you.   

And for gods sake, just hodl bitcoin for the long run. Think in many many years, not in months. Keep buying, keep DCA'ing. Hodl for life.

Cannot really disagree that everyone needs to get to a position in which they both figure out how much bitcoin to accumulate and then to get to their target, which may well include a certain amount of overallocation.. and also recognizing and appreciating that bitcoin is likely the best asset class...especially in current times and likely into the future, too.  There may well be some variations in regards to how to manage BTC once reaching target accumulation levels or even overallocations.. so it would not necessarily be correct to assert that all people would be best served by overly focusing ONLY on bitcoin.... but I understand and largely agree with your suggestion that peeps prioritize their bitcoins and figure out how to cause bitcoin to be a kind of priority in their lives.. even if there are going to be varying levels of adoption for normies including nocoiners, precoiners and persons with varying levels of already existing BTC accumulation.

[ChartBuddy]

Explanation

[Raja_MBZ]

RIPPLE CHAIR PROPOSES PLAN TO MOVE BITCOIN AWAY FROM PROOF-OF-WORK. $XRP $BTC #BTC

lol

I am with AlcoHoDL on this one... regarding how there is any kind of relevance to BTC's consensual direction.. and surely even you are seeming to recognize the absurdity of the whole matter (going by your "lol" commentary). 

One of the misleading and even deceptive aspects is for a variety of shitcoiners and Bitcoin FUDders to actually consider that there is any kind of snowball's chance in hell that bitcoin would actually move away from proof of work at all..   Even you, Raja, likely recognize that proof of work is the actual invention/contribution of bitcoin that causes it to be so god-damned powerful and difficult to defeat in any kind of way... .. so yeah, there are a lot of newbies, ignoramuses and/or fud spreaders who are just going into looney lala land if they believe that proof of work is actually on the table as "changeable" in any kind of direction that they are proposing... in other words, let's put down the gauntlets here and really see how many actual bitcoiners (people who actually recognize and appreciate what bitcoin is and what it is doing) will tell the disingenuous misleading dweebs to fuck off.

On the actual topic of BTC stackening.. and particularly the stackening of uie-pooie Raja...  can you see an opportunity to buy some or all of your BTC back (perhaps as much as 0.21) from your last summer (2021) sale?   or?  are you still waiting for BTC's spot price to meet the 200-week moving average (currently the 200-week moving average is slightly more than $18k)?

If you are waiting for BTC spot price to meet the 200-week moving average, then your odds of success would be quite a bit higher in a bear market, and still seems to me that we are not in a bear market - even though assessments can reasonably differ, and subsequently I could be proven wrong concerning where we are at, currently...

I would think that many of us (in these here parts of the WO) consider that at some point you are likely to lose your opportunity to buy back your BTC (your whole BIG-ass stash of 0.21) for less than $55k because if we get decently-sized UPpity especially getting into the 6 digits (probably not going to happen in 2021, but 1st three quarters of 2022 still seem decently in play), then even if BTC spot price does end up subsequently getting down to the 200-week moving average, then such event would likely be at a BTC price that is higher than $55k...  .. just saying.. and surely nothing is guaranteed in Bitcoinlandia...

I don't really have time to chat here, but since you repeatedly tried to trigger me with your 0.21, uie-pooie, etc., I thought of replying. I ain't buying back my double-digit BTC until 200 WMA touch. In fact, I ain't touching any stock, metal, or even RE till two rate hikes. This is an effin' bubble that's starting to burst, created by loosened Fed's policy. 2022 is going to be total different, let alone your "6-figure" BTC LMAO

About PoW, I consider it the biggest revolution of the century (so far).

[OutOfMemory]

Maybe I should retire to wherever you are.

No fucking assholes about. No screaming imbeciles.

Seems peaceful and pleasant as long as you have good heat at home.

Yes and no  
It's one of the most retarded states in a middle european country. Full lumberjack territory  
But when you live more away from society, it's actually really nice. A lot of nature, simple people.
You could hike for the rest of your life over hundreds of mountain pastures in the warm seasons, swim in dozens of nearby crystal clear lakes, look at the milky way in the many clear, dark nights and much more. Winter is dominated by alpine sports, if you're into it.

I quickly self quoted my post to add that about 1% of the folks around here are educated enough to actually write and speak good english.
I'd say no more than 5% can - in a very sketchy sounding way - take an active part in an english conversation, to some extent.
This is the hard part if you would want to actually get in touch with the locals

[Hueristic]

Keeping my mind on a better life
Where happiness is only a heartbeat away
Paradise, can it be all I heard it was
I close my eyes and maybe I'm already there

[OutOfMemory]

Keeping my mind on a better life
Where happiness is only a heartbeat away
Paradise, can it be all I heard it was
I close my eyes and maybe I'm already there

Wise words.
By whom?

[JayJuanGee]

RIPPLE CHAIR PROPOSES PLAN TO MOVE BITCOIN AWAY FROM PROOF-OF-WORK. $XRP $BTC #BTC

lol

I am with AlcoHoDL on this one... regarding how there is any kind of relevance to BTC's consensual direction.. and surely even you are seeming to recognize the absurdity of the whole matter (going by your "lol" commentary). 

One of the misleading and even deceptive aspects is for a variety of shitcoiners and Bitcoin FUDders to actually consider that there is any kind of snowball's chance in hell that bitcoin would actually move away from proof of work at all..   Even you, Raja, likely recognize that proof of work is the actual invention/contribution of bitcoin that causes it to be so god-damned powerful and difficult to defeat in any kind of way... .. so yeah, there are a lot of newbies, ignoramuses and/or fud spreaders who are just going into looney lala land if they believe that proof of work is actually on the table as "changeable" in any kind of direction that they are proposing... in other words, let's put down the gauntlets here and really see how many actual bitcoiners (people who actually recognize and appreciate what bitcoin is and what it is doing) will tell the disingenuous misleading dweebs to fuck off.

On the actual topic of BTC stackening.. and particularly the stackening of uie-pooie Raja...  can you see an opportunity to buy some or all of your BTC back (perhaps as much as 0.21) from your last summer (2021) sale?   or?  are you still waiting for BTC's spot price to meet the 200-week moving average (currently the 200-week moving average is slightly more than $18k)?

If you are waiting for BTC spot price to meet the 200-week moving average, then your odds of success would be quite a bit higher in a bear market, and still seems to me that we are not in a bear market - even though assessments can reasonably differ, and subsequently I could be proven wrong concerning where we are at, currently...

I would think that many of us (in these here parts of the WO) consider that at some point you are likely to lose your opportunity to buy back your BTC (your whole BIG-ass stash of 0.21) for less than $55k because if we get decently-sized UPpity especially getting into the 6 digits (probably not going to happen in 2021, but 1st three quarters of 2022 still seem decently in play), then even if BTC spot price does end up subsequently getting down to the 200-week moving average, then such event would likely be at a BTC price that is higher than $55k...  .. just saying.. and surely nothing is guaranteed in Bitcoinlandia...

I don't really have time to chat here, but since you repeatedly tried to trigger me with your 0.21, uie-pooie, etc., I thought of replying. I ain't buying back my double-digit BTC until 200 WMA touch. In fact, I ain't touching any stock, metal, or even RE till two rate hikes. This is an effin' bubble that's starting to burst, created by loosened Fed's policy. 2022 is going to be total different, let alone your "6-figure" BTC LMAO

I appreciate your frankness and even some of your holding back of your taking some of my personal jabs too personally, even if you likely realize that a lot of us in these here parts disagree with some of your views, but surely your views do not seem to be overly-outrageous in terms of considering how people might consider your approach/perspective to be within the realm of reasonable..even for someone who seems to be largely informed on several angles of the bitcoin (and shitcoins) space.

So sure there are possibilities that our top for this cycle has already been reached with $69k on the 9th of November.. and it is possible that resistance will be unable to be broken before 6 digits is even reached.. which surely would contribute towards the 200-week moving average slowing down in its pace of moving up... including that some of the more bearish scenarios that you are expecting with some of your expectations that BTC may well end up having more than expected correlation with various traditional asset categories (including the various everything bubbles)...   

By the way, of course, you realize that there are some theories that even if the whole fed policies are unsustainable shitshows that they can keep the various dumbass balls juggling in the air for longer than any of us anticipate... with how crazy and even desperate all of their behaviors seem.

About PoW, I consider it the biggest revolution of the century (so far).

Exactly, part of the reason that it becomes somewhat difficult to bash upon uie pooie too much is because I had never really lost sight that you seem to decently well understand some of the important aspects of bitcoin, so surely some of us had considered that maybe your account had been taken over because of your appreciation of at least some aspects of what makes bitcoin so powerful.

[ChartBuddy]

Explanation

[Hueristic]

Keeping my mind on a better life
Where happiness is only a heartbeat away
Paradise, can it be all I heard it was
I close my eyes and maybe I'm already there

Wise words.
By whom?

https://www.youtube.com/watch?v=astDDt5OUYM

[Torque]

This is an effin' bubble that's starting to burst, created by loosened Fed's policy. 2022 is going to be total different, let alone your "6-figure" BTC LMAO

Even if you are correct and we have a bubble pop and market crash in 2022, how would that play out any different than March 2020?

The markets will flash crash, the Fed will slam rates to 0% and flood the markets with trillions $$$ overnight, the markets will get bought back up, and Bitcoin will moon (easily to $100K+)... all before you even wake up and think about moving money to buy the dip.

[Torque]

@Torque

I’m 50/50 on you …. Otherwise it was merited heavily

Sorry Sir

But there are max amount per 30days and I’m on that max for you currently

Though I do like the model and the way of thinking behind it.

His model is interesting, I'll give him that.

But not attempting to model any kind of demand in the model beyond just a constant doesn't really work for me.

Demand doesn't always grow, or even stay a constant. Demand in any market can go down for some period of time. Yes, even in Bitcoin. And on the flip side, excessive, prolonged shorting is a kind of constant demand where the price will actually go down and stay down for a while.

And the rate of outflows from exchanges is an interesting metric, but it is not an infallible indicator. Whales could just move coins off exchanges (for a period of time) in order to spoof the markets. They do KNOW that people (crypto market analysts? lol) are now looking at these types of metrics.

Now if we had spot Bitcoin ETFs that actually held the asset transparently and auditable, we could measure long hold outflows more accurately.

--------------------------------------------------------------------------------------------------------------------------------------------

EDIT: Btw, I don't want anyone here to think me a pessimist or bear. We had some really fantastic, extraordinary things happen in Bitcoin this year:

1. We hit a new ATH, twice!

2. The price is up 5X from mid-2020!

3. We have Bitcoin ETFs!

4. We had a friggin country adopt Bitcoin as legal tender!

So I'm pretty stoked, and I hope you guys are too. The future looks bright for Bitcoin.

[ChartBuddy]

Explanation

[El duderino_]

I’m with you @torque

Also constant demand grow probably don’t happen like the model suggests

Like Saylor said if Godzilla comes to the playground all kind of sudden things can happen

But imho as well…. The BTC future looks bright

[Richy_T]

Executive Chairman and Co-founder of Ripple Chris Larsen has unveiled his plan for Bitcoin miners to move away from Proof of Work (PoW), saying they should view it as “a net positive for their longevity.”
-of-stake

I always take business advice from my competitors.

[ChartBuddy]

Explanation

[fillippone]

Heck yeah.

Undoubtedly WO is the most active thread in the Bitcointalk forum.
Here is the Monthly Overview Comparison of the WO Thread.

It reminds me when I used to do this:
https://bitcointalk.org/index.php?topic=178336.msg55315921#msg55315921

[El duderino_]

[BobLawblaw]