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

[philipma1957]

Interesting.. and yeah?  Can anything be done about it?  These may well have been some sophisticated players.. presuming that the same groups got the 119k coins.. there are a lot more of those presumably stolen bitfinex coins that could get moved.

yes but at great cost to BTC's integrity.

@ homer five guys burgers crush McDonald's crap.

[1713977807]

1713977807

[1713977807]

1713977807

[ChartBuddy]

Explanation

[ImThour]

My best chart ever, even JJG will like it too.

https://www.tradingview.com/chart/BTCUSD/tAB36BK2-Bitcoin-10-Years-Investment-Analysis/

[suchmoon]

Police were looking for drugs (video) https://www.reddit.com/r/Unexpected/comments/shs9s3/police_were_looking_for_drugs/

Most of the cooling equipment (fans/vents/ducts/etc) I bought for my mining farm was being marketed for grow tents. I bet my garage would light up on a drone infrared camera like a damn volcano. My electric bill was probably higher than the rest of the street combined. I'm quite surprised no fuzz came knocking during all those years.

Eventually I decided to put that excess heat to good use (tomatoes and strawberries and stuff). So I bought grow lights and the whole thing was glowing pink-purple. Still nothing.

[JayJuanGee]

The way the price action looks, the fact that we didn't go down on the weekend, and on-chain data being super bullish. IMO, Bears are done for, bottom is in, ATH in 2-3 months.

Hahahaha... somac.. the winds of change might be upon us?  You are coming off as a wee bit more bullish than me, at the moment, which inspires me to re-submit my prior question from a few days ago.

Surely, previously there were an overwhelming majority of the responding members who were fighting the hypothetical.. so I am going to attempt to reframe the hypothetical** a wee bit from the start.

Here we go - with some modifications below from my previous post on the topic.

If we presume that the BTC price is either staying in the same place or mostly going up from here (without breaching it's current bottom of $31,951 - from 8 days ago) then how much UP are you going to need before you are going to personally start to believe that the bottom for this particular correction is "in"?

**I will give you a hint regarding how to "deal with" an actual hypothetical question as it is presented to you (#nohomo) - if you so inclined to fight the hypothetical and to proclaim that I am looney for hypothetically asserting for the sake of this question that we are going up from here and that there has to be another test of the bottom blah blah blah before we can go up, then in this hypothetical question, you would likely require more quantity of UP, relatively speaking, before you would be comfortable conceding that the "bottom is in.".. maybe you need $62k or $70k or greater price levels rather something more normal and practical such as upper $40ks or lower $50ks.. hahahahahha

Here are the "acceptable" response options: (of course, option 9 does give you a lot more ability to explain, so I am not completely locking you into the answers that I had considered to be more straight-forward)

1) Already enough UPpity to proclaim the bottom is "in".

2) Getting Staying above $38k $39k for more than a few several hours will be enough

3) Getting above $40k

4) Getting above $42k

5) Getting above $46k

6) Getting above $50k

7) Getting above $55k

8.) Getting above $62k

9) Getting above some other price level not listed above (and perhaps some additional criteria?)

Pray tell.  Opinions matters, especially the opinion of uie pooie (I won't even make any exceptions here.. for the sake of inclusivity.. hahahahahaha)

[shahzadafzal]

Police were looking for drugs (video) https://www.reddit.com/r/Unexpected/comments/shs9s3/police_were_looking_for_drugs/

Most of the cooling equipment (fans/vents/ducts/etc) I bought for my mining farm was being marketed for grow tents. I bet my garage would light up on a drone infrared camera like a damn volcano. My electric bill was probably higher than the rest of the street combined. I'm quite surprised no fuzz came knocking during all those years.

Eventually I decided to put that excess heat to good use (tomatoes and strawberries and stuff). So I bought grow lights and the whole thing was glowing pink-purple. Still nothing.

Wow that sounds interesting, while keeping your wife/girlfriend or family happy and buys too. I read similar stories before about putting the heat generated by bitcoin mining to some good use, like fueling greenhouse or heating buildings in cold places.

In a world’s first, Bitcoin mining farms will provide heat to this chilling Canadian city.
https://luxurylaunches.com/other_stuff/in-a-worlds-first-bitcoin-mining-farms-will-provide-heat-to-this-chilling-canadian-city.php

Extra Heat Generated From Bitcoin Mining Fuels Local Greenhouse
https://www.greenmatters.com/renewables/2018/01/18/ZdqLiN/bitcoin-mining-heat

[ChartBuddy]

Explanation

[shahzadafzal]

You might not like some characters but this is a war bitcoin fighting 
https://twitter.com/bitcoin/status/1488537164191305731?s=21

[serveria.com]

Police were looking for drugs (video) https://www.reddit.com/r/Unexpected/comments/shs9s3/police_were_looking_for_drugs/

Most of the cooling equipment (fans/vents/ducts/etc) I bought for my mining farm was being marketed for grow tents. I bet my garage would light up on a drone infrared camera like a damn volcano. My electric bill was probably higher than the rest of the street combined. I'm quite surprised no fuzz came knocking during all those years.

Eventually I decided to put that excess heat to good use (tomatoes and strawberries and stuff). So I bought grow lights and the whole thing was glowing pink-purple. Still nothing.

Haha... hilarious... btw wasn't it a little bit too loud too? Or bearable? Could you hear it humming from your room? 

[JayJuanGee]

So...  The really edgy thing would for bitcoin just to waltz through this trend line sideways just to piss everyone off at once.  But of course it is more likely to go up... or down.

1D below...

I am glad that you came to your senses by the time you got to the end of your statement about king daddy

King daddy no does not do sideways very gracefully, unless it does... so even if you were hedging not to presume sideways, it remains dangerous to presume sideways that might or might not end up happening....

....if that means anything to uie pooie?    






 

Perhaps the paper hands who sold twice in the last year at a loss are starting to feel again the urge to FOMO back in. "Third time is a charm" they say. As the train is leaving the station, the peeps waiting for <30K are scratching their heads. "What if this was the bottom and the thrain never returns to this station again?" - this thought is haunting their minds. (Biting nails and resisting the urge to buy higher than the sold price. Calculating the missed profits day after day. Until one day the FOMO urge is so strong that they succumb to the temptation and press the buy button. Usually this happens after several months of new ATHs. And the buy trade is made just a few hours before the next correction starts, which brings the FUD again and the next registered 30%+ sell loss is the final result.) This is the short story how some get poor by trading, because they are led by their love for fiat and lack of understanding for Bitcoin.  

Exactly! Very few understand that the old 4 year old cycle/pattern is dead. We are on the verge of something entirely new. Yearly cycles? Biannual cycles? No cycles? One huge BTC vs hyperinflation wave? Who knows...  

Even though it appears that the 4-year cycle is under stress and perhaps even broken.. I would not be so quick as to completely throw it out.. even though likely there had been normies who had been putting too much credence into the idea that king daddy was on some kind of a specific schedule.

Interesting.. and yeah?  Can anything be done about it?  These may well have been some sophisticated players.. presuming that the same groups got the 119k coins.. there are a lot more of those presumably stolen bitfinex coins that could get moved.

yes but at great cost to BTC's integrity.

You seem to be buying into negative presumptions in order to denigrate bitcoin.. with your "great costs" language.. and your moralizing with your chosen word: "integrity".

Over bitcoin's life, we have had quite a few exchange hacks and exit scams in bitcoinlandia.. so surely there are likely "lessons to be learned" from a variety of incidents that have happened over the years, and surely some of the earlier cases were likely pure sloppiness in which some of the ways of operating within bitcoin have become quite a bit more professional in several ways, and at the same time, I consider it problematic to be narrowing in on a moralizing framework in regards how you believe that bitcoin might be lacking because it seems quite difficult  (if not impossible) to catch the bad guys.  So what would you like to argue?  Better tools to catch bad guys?  

Bitcoin does not stop attempts to develop better tools to attempt to catch bad guys, and of course, frequently the powers that be, the mainstream media, the bitcoin naysayers, the no coiners, the shitcoin pumpers and even some other classes of individuals/institutions will end up exaggerating aspects of the supposed problem such as suggesting that bitcoin is the problem, but seems to me that you should know better than playing into those kinds of moral denigrations of bitcoin phillip..

There is a lot going on in bitcoinlandia, including that there may well be some bad guys that are able to stay ahead of law enforcement and to get away with keeping that value that they stole.. .are the bad guys going to make mistakes that contribute to getting caught?  I don't know.  

Do I know about the various tools that are used by law enforcement?  I don't know that either because I don't have too many clues about how I would attempt to get away with a crime if I were to want to commit a crime.. while at the same time, I do try to learn aspects of trying to keep my bitcoins private and secure, and I am not even sure if there might not be ways that I am vulnerable or perhaps some better ways to achieve my objectives while attempting to maintain some kind of balance with skills that I have been attempting to learn over the past 8 years...

No one said that it is easy to hold your own coins, but I would hate to speak to the dialogue that bitcoin is lacking in moral integrity also...l because I believe that bitcoin provides way more good than harm, even if some bad guys are finding ways to make a living from various kinds of vulnerabilities that exist.. whether it is getting into exchanges or other ways of moving around value without getting caught/identified.

[suchmoon]

Haha... hilarious... btw wasn't it a little bit too loud too? Or bearable? Could you hear it humming from your room? 

Noise suppression stuff (also mostly repurposed from weed growing equipment) was one of the first things to get installed along with cooling. The sound didn't completely go away but turned into sort of a mellow white noise that didn't travel far.

Having said that, noise was a significant factor in choosing mining equipment. It's much harder to solve than e.g. heat or power, since it doesn't neatly follow ducts and wires. Sadly Bitcoin ASICs these days are nearly impossible to use at home, even underclocked.

[ChartBuddy]

Explanation

[JayJuanGee]

My best chart ever, even JJG will like it too.

https://www.tradingview.com/chart/BTCUSD/tAB36BK2-Bitcoin-10-Years-Investment-Analysis/

I guess that I am not really opposed to the idea that seems to be in the ballpark of the 200-week moving average for projecting ahead the bottom, but I am bit bothered by language of "never" go below, and even I had suggested that there might be a need to bring down the rate of anticipated BTC price appreciation as contained in the historical appreciation of the 200-week moving average as compared to its anticipated projection forward.. and so in that regard, when you plot it out on a graph it does look overly bullish (even if the BTC price and also the 200-week moving average may well end up playing out like that).. causes me to want to batslap myself too.. .hahahahahaha..

One thing that I had thought that I was attempting to do was to project out the idea of the 208-week moving average, but surely to be able to monitor it as I go...

 so for example, if I had already gotten to fuck you status, then I could consider that I may well be able to spend within a certain level of parameters and continue to monitor if the 208-week moving average is kind of staying within a range that would allow me to continue to spend at a similar level or if it might be prudent for me to adjust my spending upwards or downwards.

Another example would be one in which I might not yet be at or near fuck you status, but projecting out the 208-week moving average has been a somewhat conservative measure to attempt to figure out how long it might take me to get to fuck you status.. while also keeping in mind that I both have to continue to monitor whether the 208-week moving average is continuing to move up at the tentative pace that I had anticipated and perhaps figure out if I am being sufficiently aggressive with my coin accumulation.. because also there would likely continue to need to be some desires for a cushion in the quantity of coins accumulated..and the ongoing reassessments along the way would help to decide how close that I might be coming to fuck you status currently and whether what I am doing might still end up being able to reach fuck you status at some point in the future.....

So, I suppose that part of my objection would be to put too much certainty upon certain lines/bottoms NOT being crossed because even though we can use the 208-week moving average as a guide that we can continue to monitor.., we can also see that from time to time (even in recent bitcoin history) the 200-week moving average has been breached (such as December 2018 through March 2019, and in March 2020), and even stayed very close to the 200-week moving average for a whole year in 2015.. with a few wicks below the 200-week moving average during 2015.

https://www.lookintobitcoin.com/charts/200-week-moving-average-heatmap/

I remain skeptical about putting too many certainties in where the BTC price might go while at the same time suggesting that each of us should be striving to prepare for varying contingency scenarios.. even if we might have decently high levels of confidence that overall the 200-week moving average has good chances of holding... because of various ongoing BTC fundamentals (that we should continue to monitor, too).

[cAPSLOCK]

Lots of talk about the well done Fidelity report.  Rightfully so.

But the report absolutely SKEWERS Ethereum too...  Awesome.



Monetary policy: HAS CHANGED AND IS EXPECTED TO CHANGE AGAIN

We can have fun playing with "smart contracts" all day long.  But if you want your money safe where do you keep it?

Also, it's just a matter of time before all of ethereum's USEFUL tech is replicated on Bitcoin sidechains anyway.  Though we will need some useful tech first...

Raul Pal is dead wrong.  Though he might get richer because of all the people who are also wrong.

[JimboToronto]

What's this place coming to?

It used to be filled with pix of fine seafood, filet mignon, fois gras, and fancy drinks. I'd come away hungry.

Now it's full of disgusting franchise burgers... enough to kill your appetite.

Let's get rid of this loser McD/ramen mentality and regain our composure as Bitcoin elite.

[cAPSLOCK]

What's this place coming to?

It used to be filled with pix of fine seafood, filet mignon, fois gras, and fancy drinks. I'd come away hungry.

Now it's full of disgusting franchise burgers... enough to kill your appetite.

Let's get rid of this loser McD/ramen mentality and regain our composure as Bitcoin elite.

[savetherainforest]

What's this place coming to?

It used to be filled with pix of fine seafood, filet mignon, fois gras, and fancy drinks. I'd come away hungry.

Now it's full of disgusting franchise burgers... enough to kill your appetite.

Let's get rid of this loser McD/ramen mentality and regain our composure as Bitcoin elite.

Gross !!! That thing reeks of "death energy" !!! You are associating yourself with thhat animal and you will eventually be sacrificed.     


Solution:  Boil on low heat on a wood burning stove in a big ceramic pot or thick metal castiron pot with lots of vegetables and spices/seasoning.     

[ChartBuddy]

Explanation

[JimboToronto]

Yum.

Here's a simple peasant's meal of meat and potatoes (and vegetables).

[vapourminer]

What's this place coming to?

It used to be filled with pix of fine seafood, filet mignon, fois gras, and fancy drinks. I'd come away hungry.

Now it's full of disgusting franchise burgers... enough to kill your appetite.

Let's get rid of this loser McD/ramen mentality and regain our composure as Bitcoin elite.

says the guy who can hunt/fish his own food at his private lake lol