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

[Torque]

Along with the fact retail are currently mesmerized by the latest big chain narrative being crammed down their throats by all the vest wearing VC assholes.  My, how those narratives have morphed over the years.  A pile of solutions looking for a problem.  World computer. Sound money!  ICOs,  No, Sound money!  WEB3!  No sound money! No WEB3!!!

I want to take a moment to outline why Web3 is massively retarded, then I will go back into my hole.

Web3 will fail for one simple, elephant-in-the-room reason that seemingly no one wants to discuss or think about:

People do not want to, and will simply REFUSE to, pay more (beyond their internet access cost) in order to access content on another version of the internet. No matter what it contains or how great it is.

Period. It's basic human nature.

The VCs believe that they can incentivize people with fake incentives to PAY MORE to be on Web3. It too will also fail.

People will just flat out refuse to pay for it. Just look at the internet today. When most are confronted with a now-required subscription to a website that formerly had free content, most people just leave that website and kiss it goodbye, never to return. That's why almost all major websites make the subscription completely optional, or offer exclusive subscription-based content along with the free stuff. Because if they didn't do that and made the subscription mandatory for all their content, they would lose the majority of their viewers, and thus ad revenue.

Once you've opened Pandora's box and made the internet free and open for 40+ years, you cannot go back and then make it pay-to-play, or micro-transactions everywhere.

All the other reasons why Web3 might fail are little more than window dressing.

[1713529151]

1713529151

[1713529151]

1713529151

[1713529151]

1713529151

[1713529151]

1713529151

[1713529151]

1713529151

[1713529151]

1713529151

[ChartBuddy]

Explanation

[LoyceV]

HOW IS DCA HELPFUL

It's more fair if you show graphs with different starting dates, not just at the Covid-crash.

I did a few calculations on dcabtc.com:

Wow! Buying $5 of Bitcoin every week for 1 year starting on 2011-03-21 would have turned $265 into $407 (+53%)
Wow! Buying $5 of Bitcoin every week for 1 year starting on 2012-03-21 would have turned $265 into $1,749 (+560%)
Wow! Buying $5 of Bitcoin every week for 1 year starting on 2013-03-21 would have turned $265 into $1,010 (+281%)
Wow! Buying $5 of Bitcoin every week for 1 year starting on 2014-03-21 would have turned $265 into $182 (-31%)
Wow! Buying $5 of Bitcoin every week for 1 year starting on 2015-03-21 would have turned $265 into $373 (+40%)
Wow! Buying $5 of Bitcoin every week for 1 year starting on 2016-03-21 would have turned $265 into $417 (+57%)
Wow! Buying $5 of Bitcoin every week for 1 year starting on 2017-03-21 would have turned $265 into $710 (+167%)
Wow! Buying $5 of Bitcoin every week for 1 year starting on 2018-03-21 would have turned $265 into $194 (-26%)
Wow! Buying $5 of Bitcoin every week for 1 year starting on 2019-03-21 would have turned $265 into $211 (-20%)
Wow! Buying $5 of Bitcoin every week for 1 year starting on 2020-03-21 would have turned $265 into $1,230 (+364%)

[cAPSLOCK]

Along with the fact retail are currently mesmerized by the latest big chain narrative being crammed down their throats by all the vest wearing VC assholes.  My, how those narratives have morphed over the years.  A pile of solutions looking for a problem.  World computer. Sound money!  ICOs,  No, Sound money!  WEB3!  No sound money! No WEB3!!!

I want to take a moment to outline why Web3 is massively retarded, then I will go back into my hole.

Web3 will fail for one simple, elephant-in-the-room reason that seemingly no one wants to discuss or think about:

People do not want to, and will simply REFUSE to, pay more (beyond their internet access cost) in order to access content on another version of the internet. No matter what it contains or how great it is.

Period. It's basic human nature.

The VCs believe that they can incentivize people with fake incentives to PAY MORE to be on Web3. It too will also fail.

People will just flat out refuse to pay for it. Just look at the internet today. When most are confronted with a now-required subscription to a website that formerly had free content, most people just leave that website and kiss it goodbye, never to return. That's why almost all major websites make the subscription completely optional, or offer exclusive subscription-based content along with the free stuff. Because if they didn't do that and made the subscription mandatory for all their content, they would lose the majority of their viewers, and thus ad revenue.

Once you've opened Pandora's box and made the internet free and open for 40+ years, you cannot go back and then make it pay-to-play, or micro-transactions everywhere.

All the other reasons why Web3 might fail are little more than window dressing.

I agree with you entirely here.  But I am still afraid that it will be quite a hard fight in the short term.

And the other thing that scares me... Recently both Hillary Clinton, and Donald Trump have said basically the same thing.  Bitcoin threatens the dollar hegemony.

I think this is quite meaningful.  And revelatory. 

What I fear is eventually the powers that be will figure out that possibly their very best chance against Bitcoin is not a CDBC, but rather Ethereum.  And this is one of the reasons the vest asshole, and the idiot xxx.eth people are so annoying.  Because they are too greedy, or stupid respectively to recognize that what they are doing it propping up the best chance the old system has to save themselves.

It is my hope that TPTB waste another 10 years trying to push their CDBC experiment.  I think we will see that fail in a GLORIOUS fashion.  In fact, I think their efforts in this will likely add so much game theoretical gasoline to the Bitcoin fire that, though it might be a rocky decade in some ways, one of the missteps they could make and are likely to.

[xhomerx10]

HOW IS DCA HELPFUL

It's more fair if you show graphs with different starting dates, not just at the Covid-crash.

I did a few calculations on dcabtc.com:

Wow! Buying $5 of Bitcoin every week for 1 year starting on 2011-03-21 would have turned $265 into $407 (+53%)
Wow! Buying $5 of Bitcoin every week for 1 year starting on 2012-03-21 would have turned $265 into $1,749 (+560%)
Wow! Buying $5 of Bitcoin every week for 1 year starting on 2013-03-21 would have turned $265 into $1,010 (+281%)
Wow! Buying $5 of Bitcoin every week for 1 year starting on 2014-03-21 would have turned $265 into $182 (-31%)
Wow! Buying $5 of Bitcoin every week for 1 year starting on 2015-03-21 would have turned $265 into $373 (+40%)
Wow! Buying $5 of Bitcoin every week for 1 year starting on 2016-03-21 would have turned $265 into $417 (+57%)
Wow! Buying $5 of Bitcoin every week for 1 year starting on 2017-03-21 would have turned $265 into $710 (+167%)
Wow! Buying $5 of Bitcoin every week for 1 year starting on 2018-03-21 would have turned $265 into $194 (-26%)
Wow! Buying $5 of Bitcoin every week for 1 year starting on 2019-03-21 would have turned $265 into $211 (-20%)
Wow! Buying $5 of Bitcoin every week for 1 year starting on 2020-03-21 would have turned $265 into $1,230 (+364%)

 Thanks for that link!  My wife has been playing lotto in a pool where she works for over 8 years now and while it's only $5 per week it has always irritated me (maybe because I dislike being subscribed to anything but life-saving medication).  Any winnings they get are small prizes and they always dump it back in for more tickets when the jackpot rises to unheard of levels (so they wasted it).  I told the lady running the pool that they should buy bitcoin every week in their pool instead of lottery tickets but she didn't like that idea.  Not that it does any good now but I just checked that site and $5 per week for 8 years of lottery tickets is $2080 worth of hope and the bitcoin, if purchased weekly, would be have been worth over $133,000 today.
 

[Biodom]

Along with the fact retail are currently mesmerized by the latest big chain narrative being crammed down their throats by all the vest wearing VC assholes.  My, how those narratives have morphed over the years.  A pile of solutions looking for a problem.  World computer. Sound money!  ICOs,  No, Sound money!  WEB3!  No sound money! No WEB3!!!

I want to take a moment to outline why Web3 is massively retarded, then I will go back into my hole.

Web3 will fail for one simple, elephant-in-the-room reason that seemingly no one wants to discuss or think about:

People do not want to, and will simply REFUSE to, pay more (beyond their internet access cost) in order to access content on another version of the internet. No matter what it contains or how great it is.

Period. It's basic human nature.

The VCs believe that they can incentivize people with fake incentives to PAY MORE to be on Web3. It too will also fail.

People will just flat out refuse to pay for it. Just look at the internet today. When most are confronted with a now-required subscription to a website that formerly had free content, most people just leave that website and kiss it goodbye, never to return. That's why almost all major websites make the subscription completely optional, or offer exclusive subscription-based content along with the free stuff. Because if they didn't do that and made the subscription mandatory for all their content, they would lose the majority of their viewers, and thus ad revenue.

Once you've opened Pandora's box and made the internet free and open for 40+ years, you cannot go back and then make it pay-to-play, or micro-transactions everywhere.

All the other reasons why Web3 might fail are little more than window dressing.

Maybe, but they do pay for Netflix, Hulu, Disney, Prime and Xfinity, sometimes simultaneously for all five.
People also take roads with tolls around here, even when no-toll roads are available.
I am more concerned about some web3 companies doing play to earn where you engage in some meaningless activity to earn small amounts of "currency".
You are basically sell yourself (as a human being) short.

[Paashaas]

OT: https://www.cnbc.com/2021/12/23/jack-dorsey-blocked-by-marc-andreessen-on-twitter-after-web3-comments.html

Dorsey, who has raised money from VCs for Twitter and Block, is himself is a big proponent of bitcoin and his Twitter bio is simply ”#bitcoin” followed by the bitcoin symbol. However, he’s less keen on other cryptocurrencies.

Late on Wednesday, he replied to a Twitter user saying he’s not necessarily anti-ethereum, a technology powering the cryptocurrency ether (ETH) and thousands of decentralized applications including several that have been backed by Andreessen Horowitz.

“I’m anti-centralized, VC-owned, single point of failure, and corporate controlled lies,” Dorsey said. “If your goal is anti establishment, I promise you it isn’t ethereum.”

And Jack is an insider, so he would know the truth more than anyone.

Jack is on fire these day's since he stepped down as CEO of Twitter. I like how he's calling out web3 narrative and messing up there business plan, obviously they don't like it. This has nothing to do with build a better world, the only thing VC's want is to dump on the next greater fool for profits.

Ethereum classic - Ethereum - Ethereum 2.0 - world super computer - javascript - digital oil - ICO - DeFi - ultra soundmoney - NFT - web3.

All shitcoin marketing.

[dragonvslinux]

@BTC_Archive
Bullish divergence between #Bitcoin  price and illiquid supply ratio.

 This has led to higher prices the last 2 times.
3rd time? 🧐

https://twitter.com/btc_archive/status/1473983443365158931?s=21

The illiquid/liquid supply is one of the main reasons I've remained bullish since the drop to $42K, and it's not based on hopium, but the fundamentals of the type of buyers in the market right now: hodlers.

When price initially bounced back from sub $30K to $40K-50K there was an increase of supply that at the time I found concerning, as buyers were cashing out. But since the drop from $69K to $42K, we have seen liquidity continue to be taken off exchanges, showing that people (for now at least) are buying for the long-term again, not cashing out anymore. Unsurprising to some degree as was the second time round getting to these levels, so most sellers had already sold on the way up, and no longer needing to sell on the way down anymore. Buying fundamentals looks better now than it did previously at these prices basically.

In Willy Woo's most recent interview, while he remains bullish due to the on-chain fundamentals, he does none the less anticipate a month to a few months of sideways action before the bull-run continues and price makes new ATH. However he does also consider price to have consolidated in the $28K-69K all year (which is true from a subjective opinion), so by sideways this can imply simply staying in the same range (not around the same price). And unsurprisingly as I type, price now breaks above $50K, because the amount of liquidity on exchanges does have a profound effect on price in the long-term.

$47K-48K will hold this time around I think, in order to create a higher low on the 4hr. Bears failed to push price below $46K which is a sign of weakness, even if $49K showed lack of buying pressure.

The break-out from the descending wedge previously referenced looks confirmed, so the target would be around $53K (+10%) from break-out level.

[ChartBuddy]

Explanation

[bitcoinPsycho]

Explanation

The battle for $60000 continues

[cAPSLOCK]

Explanation

The battle for $60000 continues

I like it...  Could be an interesting weekend!

[shahzadafzal]

cinquanta

[LFC_Bitcoin]

[NeuroticFish]

Shhh.. please don't jinx it...

[sirazimuth]

https://www.youtube.com/watch?v=3Y71iDvCYXA

[dragonvslinux]

It's taken around 4 months, but from my understanding the accumulation zone has officially moved up from $33.6K level to $48.4K. Congrats everyone, we did it! 🥳



Ironically, it happens on the day of a break of $50K, but was also due any day now pending an increase of volume which has now taken place.
Still won't be surprised to see a re-test of the 50 Week MA this week or next around $48K, but for now, price looks very bullish indeed.
Next step, moving the accumulation zone up to $56.5K, to build the next level of strong support. Still a way to go yet before ATH.

[bitcoinPsycho]

https://www.latimes.com/business/hiltzik/la-fi-mh-the-bitcoin-crash-20131207-story.html


The bitcoin crash of 2013: Don’t you feel silly now?


Multiple ironies contained in this article from 2013

[Torque]

Along with the fact retail are currently mesmerized by the latest big chain narrative being crammed down their throats by all the vest wearing VC assholes.  My, how those narratives have morphed over the years.  A pile of solutions looking for a problem.  World computer. Sound money!  ICOs,  No, Sound money!  WEB3!  No sound money! No WEB3!!!

I want to take a moment to outline why Web3 is massively retarded, then I will go back into my hole.

Web3 will fail for one simple, elephant-in-the-room reason that seemingly no one wants to discuss or think about:

People do not want to, and will simply REFUSE to, pay more (beyond their internet access cost) in order to access content on another version of the internet. No matter what it contains or how great it is.

Period. It's basic human nature.

The VCs believe that they can incentivize people with fake incentives to PAY MORE to be on Web3. It too will also fail.

People will just flat out refuse to pay for it. Just look at the internet today. When most are confronted with a now-required subscription to a website that formerly had free content, most people just leave that website and kiss it goodbye, never to return. That's why almost all major websites make the subscription completely optional, or offer exclusive subscription-based content along with the free stuff. Because if they didn't do that and made the subscription mandatory for all their content, they would lose the majority of their viewers, and thus ad revenue.

Once you've opened Pandora's box and made the internet free and open for 40+ years, you cannot go back and then make it pay-to-play, or micro-transactions everywhere.

All the other reasons why Web3 might fail are little more than window dressing.

Maybe, but they do pay for Netflix, Hulu, Disney, Prime and Xfinity, sometimes simultaneously for all five.
People also take roads with tolls around here, even when no-toll roads are available.

Oh, sure. There will always be the minority of crazies that jump on the bandwagon. I guess I shouldn't have used a blanket statement of 'people', but I really meant the majority, like 95-99% of people won't do it.

I am more concerned about some web3 companies doing play to earn where you engage in some meaningless activity to earn small amounts of "currency".
You are basically sell yourself (as a human being) short.

Yep. I mean, look at Steem. What a great concept, right? Open website where people can post any content, and other people pay to read other's posted content with microtransactions in Steem currency. So you earn Steem by posting content. But look at the adoption...next to nil. By all measures it has been a failure. And the value of Steem has fallen off the map, currently ranked #327 on CMC. I can remember a time when it was in the top 15 of the crypto list.

[cAPSLOCK]

Shhh.. please don't jinx it...

Who sold at the bottom?!?!

Who got some during LAST TIME you could EVER buy Bitcoin under 50k!?

Can you say "Supercycle?"

We are headed to a new ATH!

100k before MAY!

The next 30 minutes are critical!

How'm I doin?

[cAPSLOCK]

https://www.youtube.com/watch?v=3Y71iDvCYXA

Pretty sure Elvis is gonna be in a walker pretty soon because of all that he did to his ankles and knees.