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

[JayJuanGee]

TBH, I'm getting tired of hearing about these third world countries claiming they're getting into Bitcoin, but then not really doing anything. And by 'anything', I mean more than just talking about it or just making it a legal currency. I want to see them buy bitcoin as a reserve asset by the tens of billions! Piss or get off the pot! Drain every exchange dry! I mean ffs, if idiots like Do Kwon can buy $1 Billion worth of btc to back his stupid shitcoin, then surely these Central Banks can buy several billion dollars worth EACH, if not more.

It's what we all want to see and hear, but so far they're just jawboning. I don't even feel like El Salvador has bought enough bitcoin in reserve to impress me yet.

I have felt the same.  And as was mentioned some folks are probably dipping their toes in hoping the IMF won't call their bluff.  But at the same time it seems almost impossible for at least a HANDFUL of these countries are not getting in.  How long will that take?  Not sure. Seems like a fairly large scale project.

But part of the point is Bukele and his country have done so much of the legwork already.  I imagine deals being made to use software, etc.  The way he rolls I would almost not be surprised if he gave away some of the tech they developed.  He SHOULD, as getting other countries on board here is a big deal.

The silence from the western media is possibly the most telling thing.

This is a threat to the system, for sure.

I still worry for Bukele...  he has a  pretty big target on him at this point.

I agree with everything that you are saying, but still seems to me that the "bluff" angle is a weird way of framing motivations, even if there might be some truth to it.

I feel something resembling pain

Great, got some pretty low buy orders  

EDIT: Got hit already, adding some a lil lower.

Rooting for down is not becoming....


.... especially for a coiner.



Justsaying.







Now, a no coiner.. I could see why they might be rooting for downity.

Hi boys, ......


This game is too easy.......

for sure I had to lol at that one... and part of the reason for my lol (and complementary rotf) is that you are actually serious... mostly serious...


 



  #nohomo

Meet the Bitcoin Billionaire Chris]https://www.youtube.com/c/MMCryptoTube/videos] Chris
https://www.youtube.com/watch?v=-N73oLPdqaE

LOL
Def. a Satoshi Billionaire

This guy reeks of being one of those youtubers posing as a rich guy, in order to lure in people to invest their money in his "fund".

Even Tai Lopez did a better job tbh 

Even before watching the video I felt pretty good, including that I had weathered the UPs and DOWNs of bitcoin pretty damned well and had not gotten distracted into various shitcoins, etc etc.. nonetheless, the guy (Chris) made me feel poor. and even questioning why I had not wasted any of my time/energies with NFTs.. ... a supposed bitcoiner who seems to be quite obsessed with NFTs and consumption of the latest and greatest - with little to no clutter, either... ..

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[1714621122]

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[PoolMinor]

7 Red Weekly Candles for the first time in the history of Bitcoin and you still call it Bull run? my arse.
Midwit's will now ask me to zoom out the chart holy F 

Even emPty Gox only ever had 4 weeks of Red candles for many periods during 2011.

[PoolMinor]

My gut is it is a terrible idea since that second layer (LN) is very much like staking but I simply do not know much about the world.

Lightning works like staking, but there are two important differences:

• No coin generation.
• Actual usefulness. (Routing TX)

You forgot
3. LN node operators don't really make any money, they are doing it for fun.


Also, why do folks continue to ignore the Core Devs? Like they're never going to touch the code ever again over the next 100 years to make adjustments?

LN is just another 3rd party similar to Western Union. WU does not generate new $$ they do however charge a fee and don't do it for fun. LN operators are earning a fee via self-adjusting modifications to their channel, likely a compromise of throughput versus bandwidth.

[Gachapin]

Hi boys, bitcoin doing what bitcoin is supposed to do. Observing $29406, four year cycles live on in my opinion. Going to be a boring couple of years with some capitulation added in for good measure. Continue to stack, everything under $30,000 is an absolute bargain but don’t blow all your dry powder right now. We will have opportunities at $25,000 & possibly close to $20,000.

This game is too easy, sell some 12-18 months after the halving & start buying back in January for 12-18 months.
Keep buying until late 2023, then wait for the next bull run.

Exactly..  But that's an indicator for me that it will change rather sooner than later.

[JayJuanGee]

7 Red Weekly Candles for the first time in the history of Bitcoin and you still call it Bull run? my arse.
Midwit's will now ask me to zoom out the chart holy F 

Even emPty Gox only ever had 4 weeks of Red candles for many periods during 2011.

So what?

What's your point?

Are you trying to imply that bitcoin is more doomed these days than it was in 2011?

Seems to me that the investment case for bitcoin is getting stronger and stronger with the passage of time.. aka Lindy effect, and it seems to me that you are going to be hard pressed to argue otherwise.

So?

What do you want to say exactly?  Do you believe that 7 weekly red candles in a row indicates more down? bitcoin is going to zero? 

Let's hear it. 

'splain ur nebulous lil selfie.

 

My gut is it is a terrible idea since that second layer (LN) is very much like staking but I simply do not know much about the world.

Lightning works like staking, but there are two important differences:

• No coin generation.
• Actual usefulness. (Routing TX)

You forgot
3. LN node operators don't really make any money, they are doing it for fun.


Also, why do folks continue to ignore the Core Devs? Like they're never going to touch the code ever again over the next 100 years to make adjustments?

LN is just another 3rd party similar to Western Union. WU does not generate new $$ they do however charge a fee and don't do it for fun. LN operators are earning a fee via self-adjusting modifications to their channel, likely a compromise of throughput versus bandwidth.

oh gawd... 

For sure, I don't claim to be any kind of technical genius, but your attempt to compare/contrast lightning network with Western Union comes off as lame as fuck, at best.   With such comparison attempt, it's like you are providing more confusion than clarity.

Hey, PoolMinor, slap, slap, slap... ... Do you not know nuttin?

 

[PoolMinor]

7 Red Weekly Candles for the first time in the history of Bitcoin and you still call it Bull run? my arse.
Midwit's will now ask me to zoom out the chart holy F  

Even emPty Gox only ever had 4 weeks of Red candles for many periods during 2011.

So what?

What's your point?

Are you trying to imply that bitcoin is more doomed these days than it was in 2011?

Seems to me that the investment case for bitcoin is getting stronger and stronger with the passage of time.. aka Lindy effect, and it seems to me that you are going to be hard pressed to argue otherwise.

So?

What do you want to say exactly?  Do you believe that 7 weekly red candles in a row indicates more down? bitcoin is going to zero?  

Let's hear it.  

'splain ur nebulous lil selfie.

 

Simple. During 2011 there was 1 major exchange.
During 2022 there are >1 major exchange, comparing volume and weekly dildos against market data that is largely not even publicly available is misleading at best.
Like comparing climate change when we have only been keeping track for 150 years.

My gut is it is a terrible idea since that second layer (LN) is very much like staking but I simply do not know much about the world.

Lightning works like staking, but there are two important differences:

• No coin generation.
• Actual usefulness. (Routing TX)

You forgot
3. LN node operators don't really make any money, they are doing it for fun.


Also, why do folks continue to ignore the Core Devs? Like they're never going to touch the code ever again over the next 100 years to make adjustments?

LN is just another 3rd party similar to Western Union. WU does not generate new $$ they do however charge a fee and don't do it for fun. LN operators are earning a fee via self-adjusting modifications to their channel, likely a compromise of throughput versus bandwidth.

oh gawd...  

For sure, I don't claim to be any kind of technical genius, but your attempt to compare/contrast lightning network with Western Union comes off as lame as fuck, at best.   With such comparison attempt, it's like you are providing more confusion than clarity.

Hey, PoolMinor, slap, slap, slap... ... Do you not know nuttin?

 

LN provides a money laundering service that is not transparent, until it is regulated as WU had eventually came to be it will continue to launder money for a fee.

1. Coin generation---no but does generate income for the channel owner
2. Usefulness---Money laundering (see above)
3. LN node operators don't really......--They do make money just negligible.....and fun?? Bob doesn't sound very amused.

[ChartBuddy]

Explanation

[shahzadafzal]

7 Red Weekly Candles for the first time in the history of Bitcoin and you still call it Bull run? my arse.
Midwit's will now ask me to zoom out the chart holy F  

Even emPty Gox only ever had 4 weeks of Red candles for many periods during 2011.

Well you guys are right that there has never been 7 consecutive red weekly candles before. But what I have noticed during 2018-10-22 to 2018-12-10 (period of 8 weeks) price dropped from $7680 to $3156, it was -58% price drop. And that time too there were 7/8 red weekly candles.

Ok now we got 7 red weekly candles but price drop is from $48,189 to $26,700 which -44%. So no way these can be worst weeks of bitcoin.

Even if you consider ATH of that period and now you will see:

2017 ATH $19,789 to $3,156  => -84%
2021 ATH $69,000 to $26,700 => -61%

So no, we are not having the worst weeks of bitcoin yet. 7 red candles or 8 still stats saying otherwise.

HODL

[ChartBuddy]

Explanation

[Biodom]

Unless the Fed's chair Powell truly does want the stonk market to implode, he needs to shut the fk up.

S&P 500 needs to bounce away from 3837 or he will likely see that.

The only reason he would want to induce that if he and all the big WS players (*cough* all his buddies *cough*) are short this market.

He very well might want to bring it down 40-50%, sure.
However, I am of the opinion that, as they lost the plot on inflation upside, they would similarly lose it on the market downside.
Somehow, they think that they can control everything, but they can't. At some point these gyrations would become of such amplitude that the whole Ruby Goldberg "machine" would beak.
Is it going to be in this cycle? Maybe 20-30% chance, but close to 100% in the next few decades.
You just can't interfere ad nauseum and always get away with it...sooner or later it would utterly fail.
2008 was a warning, imho.

Not sure what to make of bitcoin's fate during this.
Perhaps, as they would try to stop (or reverse) the rise of the dollar, bitcoin would also reverse to the upside.
We shall see if this would be more important that the halvings (or not)..

[Torque]

......
.....

TBH, I'm getting tired of hearing about these third world countries claiming they're getting into Bitcoin, but then not really doing anything. And by 'anything', I mean more than just talking about it or just making it a legal currency. I want to see them buy bitcoin as a reserve asset by the tens of billions! Piss or get off the pot! Drain every exchange dry!

<snip> A bunch of mindless drivel and nonsense </snip>

Of course, you are not easily impressed because you think that your always wanting to be skeptical and a contrarian can justify replacing your judgement for the judgement that various public and/or quasi-public persons (and even institutional actors) have to weigh, even though from your statement here, you are showing that you likely do not have even close to enough facts to be coming out in such a prematurely negative tone in regards to information that is way more positive than you are making it out to be.

I'm not being negative JJG, just honest and factual. Until those countries' central bankers put their money where their big pie holes are (like M. Saylor, Elon Musk, Jack Dorsey, and others have done) and adopt bitcoin by buying the fuck out of it by the billions $$$$ and making it a reserve asset for their country that it deserves to be, they can rightly fuck off.

Put up or shut up. The world doesn't need more lame jawboners, what it needs is doers.

And btw, so can you. Fuck off.

[serveria.com]

7 Red Weekly Candles for the first time in the history of Bitcoin and you still call it Bull run? my arse.
Midwit's will now ask me to zoom out the chart holy F  

Even emPty Gox only ever had 4 weeks of Red candles for many periods during 2011.

Well you guys are right that there has never been 7 consecutive red weekly candles before. But what I have noticed during 2018-10-22 to 2018-12-10 (period of 8 weeks) price dropped from $7680 to $3156, it was -58% price drop. And that time too there were 7/8 red weekly candles.

Ok now we got 7 red weekly candles but price drop is from $48,189 to $26,700 which -44%. So no way these can be worst weeks of bitcoin.

Even if you consider ATH of that period and now you will see:

2017 ATH $19,789 to $3,156  => -84%
2021 ATH $69,000 to $26,700 => -61%

So no, we are not having the worst weeks of bitcoin yet. 7 red candles or 8 still stats saying otherwise.

HODL

I can see only 5 consecutive red candles in that screenshot of yours. And we now can witness 8 weekly red candles in a row! So, nothing near the current situation.

As to $20k, I think that it's theoretically possible but only as a flash crash scenario. It can last for hours, possibly minutes. 

[ChartBuddy]

Explanation

[BitcoinBunny]

So most people in the west appear to be just fine with near 10% official inflation rates and not do a damn thing about it?

I still see people online saying "bring interest rates back up a few per cent so I can make money on my savings".
Not realising that even at 5% savers' rate (which will probably never happen again) you are still -5% worse off annually.
Even at 10% interest with 10% inflation you are worse off after paying taxes on your savings gains.

Considering what people used to protest offer and go out on the street for I am truly astonished every one is just taking this massive inflation dildo up the ass.

Maybe the big pain is still to come or maybe they like that big dildo.
And sure, there is nothing wrong with liking a dildo up the ass but that particular inflation dildo is a dildo covered in razor blades and knives as far as I can make out.

Here in the UK that inflation dildo is also covered in an extra hurtful bonus as the government has ensured that income tax bands are NOT moving AT ALL until 2026.
What a clever tactic to make everyone poor.

 


Glad I found Bitcoin some years ago, that's all I can say.

[Hueristic]

Explanation

Welp, the carrot didn't work how about the stick?




Worked on the ruskies.

[ChartBuddy]

Explanation

[BobLawblaw]

Does anyone have the email address for the manager of Bitcoin? I want to ask him to stop selling at a discount.

I called the manager.

He told me to go fuck myself, in a strange accent.

Mumbled something about things getting out of control with degenerate South Koreans. This was not in the plans. One too many red candles apparently. People were fired, I'm told.

Strange fellow.

Name was Klaus.

[ImThour]

If you are still waiting for "the" bottom, this is for you. BTC

[BobLawblaw]

3. LN node operators don't really......--They do make money just negligible.....and fun?? Bob doesn't sound very amused.

To this end, after loading it up with another coin, and establishing some more routes, I'm taking a hands-off approach now that LNDg is running autofees for me.

Ranch build is starting to head into high gear, so great timing - not needing to babysit the node as much as I needed to previously.

Just had two channels that really pissed me off this round so far, that I had to close, and lose a bunch to "quantum space" until I reconcile everything. Not sure how to deal with sink nodes that just pull and don't ever send anything back. Fucking weird. Didn't like leaving those channels opened, 'cuz they just made me angry. Bah.

Stupid thing.

That's probably my problem... I get too emotional and frustrated with this shit, but it's only cuz I really care, and am trying to figure it out, and hate not being able to figure shit out.

Sheeit.

Ya dig?

[savetherainforest]

If you are still waiting for "the" bottom, this is for you. BTC

NO!    

22K