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

[Peter R]

Interesting discovery we just made in Risto's thread: price action seems to grow with (proxies for) the square of the number of users, as per Metcalfe's law.

Here is the square of the number of TXs per day (excluding popular addresses) overlaying the price history and shown on a log scale.  I've shifted the N²_TX curve for easier comparisons.  Indeed, Metcalfe's law appears to hold (the two curves tend to have the same slope on the log curve at any given point in time).    

[1715010722]

1715010722

[Walsoraj]

Interesting discovery we just made in Risto's thread: price action seems to grow with (proxies for) the square of the number of users, as per Metcalfe's law.

Here is the square of the number of TXs per day (excluding popular addresses) overlaying the price history and shown on a log scale.  I've shifted the N²_TX curve for easier comparisons.  Indeed, Metcalfe's law appears to hold (the two curves tend to have the same slope on the log curve at any given point in time).    

Useless chart without dinosaurs. I'm not sold yet.

[ChrisML]

>>>> $600 train, ALL ABOARD!

[KeyserSoze]

....as per Metcalfe's law.

Useless chart without dinosaurs. I'm not sold yet.

Metcalfe was born in 1946. He *is* a dinosaur. Note that I am a dinosaur as well, so I have nothing against them except we smell a bit swampy.

[JorgeStolfi]

I just rubbed it in my local grocer's face that I no longer consider myself a lifetime Gold member of their establishment because [ .. ] they ignored my request to add Bitcoin.

There, I found another reason to be skeptic about the success of bitcoin: bitcoiners will shop at Walmart instead of at their local grocer, therefore they will eat less healthy food, therefore the genetic predisposition to believe in privately issued cryptocurrencies will soon be weeded out of mankind's gene pool by natural selection.

[chessnut]

>>>> $600 train, ALL ABOARD!

 

[billyjoeallen]

I just rubbed it in my local grocer's face that I no longer consider myself a lifetime Gold member of their establishment because [ .. ] they ignored my request to add Bitcoin.

There, I found another reason to be skeptic about the success of bitcoin: bitcoiners will shop at Walmart instead of at their local grocer, therefore they will eat less healthy food, therefore the genetic predisposition to believe in privately issued cryptocurrencies will soon be weeded out of mankind's gene pool by natural selection.

Natural selection takes eons before you see effects. Multiple generations. Walmart stock and profits are doing just fine. If Bitcoin does half as well, I'll sire a few litters of bastards to pass on my genes before I die anyway. Bitchez love guys with money, even if you don't spend it on them.

http://orymh.bandcamp.com/track/the-bitcoin-rally-song

[cbutters]

580 about to get eaten !  

I think its about to go vertical.

[ErisDiscordia]

Interesting discovery we just made in Risto's thread: price action seems to grow with (proxies for) the square of the number of users, as per Metcalfe's law.

What would be the current price projection based on this model?

I admit this is indeed a pretty interesting fit!

[chessnut]

We are currently experiencing overwhelming profits on long positions but advise all traders to remain calm and HODL.

[GaliX]

Does anybody else consider moving to Kraken because of the recent Proof of Reserves?

[lemonte]

Does anybody else consider moving to Kraken because of the recent Proof of Reserves?

Signed up today and had a look at it, platform seems really nice and professional. Not traded on it yet, but plan to soon.

[BubbaGumpShrimpinBoatCapn]

This looks like a bulltrap mixed with scores of misplaced optimism/desperation.

[ChartBuddy]

Explanation

BTCUSD	572.09	572.09	547.00	0.642036304849023
GBPUSD	1.6500	1.6534	1.6466	-0.384975031507675
EURUSD	1.3838	1.3873	1.3762	-0.0957503474808217
JPYUSD	0.0098	0.0098	0.0097	0.0087739243075029
UAHUSD	0.0947	0.0950	0.0943	-0.131251938989013

[chessnut]

This looks like a bulltrap mixed with scores of misplaced optimism/desperation.

..... Aw cmon, this is an ideal floor, and the price is turning around after an exponential style decline. Its going to 600 soon and you know how much BTC likes 666.

all my money on reversal right now.

[windjc]

This looks like a bulltrap mixed with scores of misplaced optimism/desperation.

Yeah after 8 days of downtrend we go up and its a bull trap. Lol. No it's traders trading the obvious oversold coin higher. Whether this is a bull trap depends on if bigger buyers take over this move and decide its time to get (back) in. If not we will go down again. If so, we will challenge the trend line at 620.

[spooderman]

choo choo

[lemonte]

Akbar speaks sense.

[fonzie]

BAAAAAAAAAAAM

and here we go

[mah87]

BAAAAAAAAAAAM

and here we go

fake price movement this is going down soon