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

[JayJuanGee]

Hahahaha

Finding Nemo...

Do you really believe that I am being played with the use of that term, "crypto"?

If I am being "played" and I am emotional about the matter, then I would not have any kind of choice regarding when to respond or how to respond when I see such term being used, right?

Perhaps?  I won't rule out your theory completely... even though I do believe that there are quite a few bitcoin maxis (if we can be labelled as such) who also get perturbed by such vague use of language... .. so if you think about the matter a wee bit, I am not so much opposed to the use of the term "crypto" because I sometimes use that word myself, but I am more perturbed when the word is used and there is little to no context.. so in that sense, if there is little to no context when using such word ("crypto"), then who is going to know what is the reference?

So for example if someone is actually talking about bitcoin, then why would they chose to use the word "crypto" unless they are a wee bit confused in regard to what the fuck they are talking about?  There are a lot of examples of that, and we get them in this thread on a very regular basis from newbies and even from longer term WO members... So in that regard, some WO members have made comments like:  "why you getting so worked up about the term 'crypto' - everyone else is using it in the press... blah blah blah."  From my perspective, that is just lazy ass thinking, and sometimes those kinds of assertions come from long term WO participants, and I would think that they should know better, but sometimes they do not.. ..

Hey.. and I am not proclaiming myself to be holier than thou either because sometimes I do not know some basic matters related to either bitcoin or even how some "crypto" might relate to bitcoin.. so in that regard, frequently there can be learnings from a variety of angles when we are throwing out some of our ideas within our posts.

In some sense, it seems that I am frequently asserting that if someone is actually using the term "crypto" to talk about what is going on beyond bitcoin, then would it should be preferable that they provide some parameters for their reference to "crypto" in order that the subject matter (the reference to crypto) is actually understood?  Yes.. there is a widespread phenomenon of vague references to bitcoin/crypto, and just because the practice is widespread, it is likely going to continue to be the case that some of us (not only yours truly) are going to continue to be perturbed by such vagueness and unspecificity.. and many times we (beyond the royal) are going to want to make sure that we have some kind of clue regarding what the fuck they might be talking about, in the event that they have failed/refused to specify through their chosen referents (such as the use of vague-ass terms).

[bitcoinPsycho]

It Bloody worked 

[AlcoHoDL]

Humans are primates. But when we talk about humans we don't call them primates, because primates include this:




When we want to talk about Bitcoin, we shouldn't call it crypto, because crypto includes this:

[ChartBuddy]

Explanation

[JayJuanGee]

Broke Oligarch
https://www.bloomberg.com/news/features/2022-03-17/broke-russian-oligarch-fridman-says-sanctioned-billionaires-can-t-sway-putin

[...]

To be a billionaire and not own Bitcoin is pure stupidity.

[...]

My thoughts exactly. I'd even say, not only for rich people, but for anyone with a brain.

Bitcoin is a strange beast. I have friends and colleagues who are university-educated, some with Masters and Doctorates, and yet they still dismiss Bitcoin, calling it a fraud and a Ponzi. I guess the fiat standard has been so deeply embedded in people's brains, that, combined with the inherent difficulty in understanding PoW and how Bitcoin works, makes them incapable of recognizing its value.

Sometimes I wonder if Bitcoin adoption by the masses is actually increasing... Still no people (in my social circle) know enough to be able to "do it themselves". They always need me to spoon-feed them everything, and even when they buy some tiny amount of corn, they don't really understand what they've done. There's no spark in their eyes. They're just not ready for it yet. Still a long way to go...

Very good points AlcoHoDL.

Many of us have likely heard some of those theories about those who have lived well under current status quo systems, including if they might be "property rich" being unable to recognize and appreciate the value proposition of bitcoin - perhaps partially due to a kind of intangible presence that bitcoin has - and also many of them will almost completely write off any attempt to look into the matter because they will immediately categorize the bitcoin proponents as bag pumpers.. so yeah, there are some strong resistances towards even allowing some folks to even entertain the proposition that there actually might be some value in bitcoin beyond hype.

Like you, AlcoHoDL, I remain very skeptical of any kinds of claims that bitcoin is spreading through the consciousness of the people and adoption of bitcoin is becoming quite wide-spread through the various technical sections of the population blah blah blah.. which seems to be just some nonsense talking point to attempt to assert that bitcoin may well be reaching some kind of meaningful saturation point, when the reality of the matter is that some bitcoin hoarders do end up getting attention, but even many long term bitcoiners remain pitifully under-allocated (or we might call that whimpily allocated) with their 20 bitcoins that they bought in 2015 for example (hahahahaha .. I had to throw that little dig in there)...

Another way of being whimpily or underallocated would be folks who have supposedly diversified their "crypto" portfolios with a bunch of crap with a kind of presumption that there is some kind of significant/meaningful value in going beyond bitcoin - even though, sure they may hold some bitcoin as a kind of hedge.. I remember so many folks proclaiming that they own 10% bitcoin and the rest in a variety of crap while they would be counted as a bitcoiner, even though they are overly distracted rather than really recognizing and appreciating bitcoin's investment thesis. 

So, yeah even the shitcoiners are going to have some level of resonance when it comes to bitcoin, and surely the gold bugs are going to be able to understand the concepts behind investing into bitcoin, but so many of them remain way underallocated in bitcoin (if they have any bitcoin at all), and in the population as a whole, if you were to approach randomized people on the street or some other way of randomizing your selection, and if you get 1/10 to actually understand what you are talking about when you mention bitcoin, you are having a good day... 1/20 might be more accurate odds of having a kind of successful and meaningful "resonance" hit rate.

[Toxic2040]

the noon wall report at 11:27am

Big long flats again for observation...its a nice look showing considerable support and clear definition at the $40k range. Long and short battle wrapping up tomorrow with a couple hundred milly on the line. Expect fireworks once the smoke clears. Paper traders and MSM would have you believe bitcoin is just another asset class....its not.

dyor

4h


D

stronghands

[Biodom]

Paper traders and MSM would have you believe bitcoin is just another asset class....its not.

I wish we would get an asset class valuation first (at least $10-15 tril aka $500-750K per) before having serious dibs on larger inspirations, which are more down the line (could be a decade), imho.

[JayJuanGee]

Broke Oligarch
https://www.bloomberg.com/news/features/2022-03-17/broke-russian-oligarch-fridman-says-sanctioned-billionaires-can-t-sway-putin
......

To be a billionaire and not own Bitcoin is pure stupidity. Firstly, so what if it's risky, you're a billionaire you can afford large drawdowns. Secondly, you're a Russian billionaire, Russia has been targeted with sanctions for years now (including individuals), you really should of been prepared for this. Surely, he would at least have some gold jewellery floating about that he can off load.

Story sounds like bullshit to me.

He should have bought some bitcoin and gotten himself a Binance card.

 Having survived numerous lockdowns and self-isolations over the last couple of years and now not being able to travel or work anymore having shunned the vaccine, I can sympathize with him.  If not vaccinated against covid, I would be unable to board my private jet, train or yacht.  As much of the "free" world has discovered recently, freedom has a way of routing one out and embracing them wherever they may reside. So glad I live in the free world.
Unfortunately, Bitcoin and a Binance card doesn't fix this.  I guess I should be thankful that I can still travel to those parts of my country which are accessible by car.

Those are good points Homer....

A lot of folks had been thrown off by the variety of distractions and government controls over the last couple of years, which in retrospect seem to justify more preparations rather than fewer preparations, and even multi-billionnaires (seeming oligarchs) had ended up getting thrown off, as well.    Of course, some of us have recently come to realize that some of the draconian freezing of assets/accounts have demonstrated that it can be quite difficult to make preparations once the news comes out about the "need to prepare" and so in that regard, it could even take several quarters or even years to really set up systems that prepare - and give options during those emergency times.  

We are not always going to know if we are sufficiently prepared.. and yeah, it does seem surprising that anyone with assets that go into the billions would not have exercised some kinds of diversifications in terms of ensuring access to decent chunks of wealth in the event that some forms of wealth get blocked, frozen or seized.  I thought that rich people hired other rich people to help them regarding those kinds of matters - including having "secret" bank accounts and other "secret" ways of holding assets - but surely, it could be a problem if even the "secret" bank accounts/etc ended up being less "secret" than previously anticipated.

Paper traders and MSM would have you believe bitcoin is just another asset class....its not.

I wish we would get an asset class valuation first (at least $10-15 tril aka $500-750K per) before having serious dibs on larger inspirations, which are more down the line (could be a decade), imho.

It's strange that you seem to believe some kind of threshold has to be reached in order for bitcoin to matter.

Bitcoin has already largely won.

Yeah, sure we are likely to experience volatility and quite a few more battles along the way.. and maybe even several traumatic outcomes that may well even involve mass targeting of individual bitcoiners.. so surely there is hardly any kind of guarantee of any straight-line UPpity when we are within the likely early stages of the largest wealth transfer in human history... and sure, I am not even downplaying a possibility that it could well take us a decade to get another 10x even though we already experienced an average of at least one 10x every four years..

Yes, many of us know and appreciate the old trope that historical performance does not guarantee future results.. even if we may well understand that 10x in the next 10 years is pretty damned bearish - even though it still would be a quite decent place to put value (even if seeming to be relatively bearish in the scheme of what bitcoin is and what bitcoin is going to continue to be).  In any event, it well could happen that there is a long period of flat in bitcoinlandia in the coming decade - even though I would not put too much value in failing and refusing to prepare for UP.. and for sure, if we maintain somewhat conservative expectations regarding bitcoin's future performance, then any performance that goes more bullishly beyond our conservative expectations would psychologically (and financially) end up serving as "icing on the cake."  

[eXPHorizon]

 

[ChartBuddy]

Explanation

[Copetech]

Hi guys ... had been absent for awhile. My father passed away and I have to go visit the country. The little coin I have left has been spent. If anyone wants to help, you can always send me a message. The war is just bad. I have everyone vax'd but still need a bunch of paperwork just in case.

Was a bit concerned... glad you've pulled through and terribly sorry for your loss.

[gembitz]

Hi guys ... had been absent for awhile. My father passed away and I have to go visit the country. The little coin I have left has been spent. If anyone wants to help, you can always send me a message. The war is just bad. I have everyone vax'd but still need a bunch of paperwork just in case.

keep safe out there bud    all the best

[Paashaas]

https://twitter.com/BitcoinMagazine/status/1504533149811978243

[Toxic2040]

Paper traders and MSM would have you believe bitcoin is just another asset class....its not.

I wish we would get an asset class valuation first (at least $10-15 tril aka $500-750K per) before having serious dibs on larger inspirations, which are more down the line (could be a decade), imho.

two to ten trillion is swirling around right now looking for better returns...and frankly...any return. Cutting off and basically destroying a nation states economy is a serious wake up call for many...or it should be.


and I think bitcoins current valuation should be closer to 2.5 to 10 trillion than i think the 1.75 reported atm     plenty of room for growth

one must remain patient grasshopper

-----

In other prognostications

The Moon is full tomorrow night in the house of Virgo. The Goddess..the mother who holds the power to heal. This is again time to reflect upon the past and forgive yourself and others.

The low side of Virgo or the shadow side, is perfection. On striving for perfection we often fail, and one of the hardest things to do is to forgive yourself those failures...to be able to say yeah...I messed up...but thats ok....I am going to try harder next time.

When you hold onto this resentment your ability to see clearly and to attract positive vibrations is dampened. Life is not perfect..its a mishmash of imperfect and arbitrary events that can be overwhelming.

Let go of the past and let the healing begin. This is the way.

[DaRude]

Broke Oligarch
https://www.bloomberg.com/news/features/2022-03-17/broke-russian-oligarch-fridman-says-sanctioned-billionaires-can-t-sway-putin

Fridman, 57, was born and raised in the Soviet Union in the western Ukrainian city of Lviv. He was a first-wave oligarch, making a fortune in banking and energy before Putin’s rise to power. His parents are Ukrainian citizens who until recently lived part of the year in an apartment in Lviv.

Fridman was worth about $14 billion before the war, according to Bloomberg. He’s now worth about $10 billion on paper and is in the strange position of being an oligarch with essentially no cash. When the U.K. followed the EU and sanctioned Fridman on March 15, his last working bank card in the U.K. was frozen. He tells me he now must apply for a license to spend money, and the British government will determine if any request is “reasonable.” It appears that this will mean an allowance of roughly £2,500 a month. He’s exasperated, but careful not to compare his woes with those of Ukrainians suffering from the war. “My problems are really nothing compared with their problems,” he says.

Even though the U.S. has not sanctioned Fridman, the EU and U.K. measures led his accounts to be frozen; the day after Brussels announced sanctions, he found his bank card didn’t work. Now he’s trying to figure out how to pay for small things such as a house cleaner. “Maybe I should clean the house myself,” he says with a nervous chuckle. “That’s fine. I used to live in a small dormitory room with four men when I was a student, but after 35 years it’s unexpected.”

Fridman says he has two months to challenge the EU’s sanctions. Fridman holds an Israeli passport, but when I ask whether he might move to Israel, he waves off the idea. He doesn’t own a home there and doesn’t have access to money to buy one. “I’m a prisoner here,” he says.

Just before we met, he says, he got a call from a Ukrainian friend who was helping relatives flee Kharkiv. Fridman says he offered his parents’ two-bedroom apartment in Lviv, which has so far avoided direct Russian hits. He says the flat is now a temporary home for 15 refugees.

A few days after our meeting, the U.K. sanctioned Fridman, and this time he calls me, with no obvious reason except to say that things are getting worse. He sounds at a loss. “I don’t know how to live,” he tells me. “I don’t know. I really don’t know.”

The way finance is being weaponized is insane. Israeli citizen from Ukraine literally just got turned off with a press of a button (as financial collateral damage). I don't know what could undermine the confidence in reserve currency more. Hey Oligarchs/China you guys still on board to buy some US debt right? ... RIGHT??

[vapourminer]

ONE OF US! ONE OF US!

oh wait wrong sub

[Toxic2040]

Also in the news..

Its St. Patrick's day. 

https://www.almanac.com/content/st-patricks-day

St. Patrick’s Day is officially observed on March 17 each year, though celebrations may not be limited to this date. The significance of March 17 is that it’s said to be the date of St. Patrick’s death in the late 5th century (circa A.D. 493).

Saint Patrick is the patron saint and national apostle of Ireland. He is credited with successfully spreading Christianity throughout Ireland—hence the Christian celebration of his life and name.

The symbol of St. Patrick is a three-leaf shamrock, not a four-leaf clover. However, long before the shamrock became associated with St. Patrick’s Day, the four-leaf clover was regarded by ancient Celts as a charm against evil spirits.

We wear a shamrock on St. Patrick’s Day because, legend says, St. Patrick used its three leaves to explain the Holy Trinity in his teachings. (The Trinity is the Father, the Son, and the Spirit as three divine persons who are one divine being [God].)

 Lá Fhéile Pádraig sona duit!

[ChartBuddy]

Explanation

[JimboToronto]

Its St. Patrick's day.

I always loved St. Patty's Day. It was one of the few days when the bars would be filled with normies.

After playing most nights to hardened partiers and drinkers, it was fun to watch the amateurs get shit-faced on a few drinks.

Weddings, New Year's Eve, Halloween, St. Patrick's Day. Those were the days.

[JayJuanGee]

BTCUSD: Potential $43100 to $44650 Next 2-Day Candle Public Idea: https://www.tradingview.com/chart/BTCUSD/wszOayI1-BTCUSD-Potential-43100-to-44650-Next-2-Day-Candle-Public-Idea/  See more details with other time frames in the description of the publication link above regarding another potential shakeout after this period of upward pressure we are experiencing currently.

So many colors, lines and so much action seems to be "happening" within the chart that it causes me to get feelings of dizzenings.. In other words, I could well faint if I do not take precautions.  #justsaying. #gottahaveshades

and I think bitcoins current valuation should be closer to 2.5 to 10 trillion than i think the 1.75 reported atm     plenty of room for growth

I agree with the overall points of your post, ToxicMoxic - except, I am not sure about from where you got any figure showing BTC as having a $1.75 trillion market cap.  Sure, the overall "crypto" marketcap is around that $1.75 trillion mark, but bitcoin's portion of that is ONLY about $0.75 trillion.

I do understand some of the arguments regarding capital searching for a place to go, and so I also appreciate that there is going to be some movements of value in and out of bitcoin that does not necessarily leave "crypto".. yet unless we really try to figure out the various market cap shenanigans that are being played by various shitcoins, there may well be some swimming aspects when describing overall "crypto" value rather than attempting to stay more focused on bitcoin... though there may well be some validity to some of the value moving in and out of bitcoin and into some of those other coins as being valid.. especially sometimes those moves in and out will give some ideas regarding capital looking for a place to go (as you suggested there to be some representation of that concept within the overall "crypto" space that might not ONLY be what we can see through bitcoin's market cap by itself).