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

[LoyceV]

I don't think world 0.2% Electricity is going towards Ethereum blockchain

Math time
The world produces 26.8 million GWh per year. I assume mining happens in the cheapest countries, which charge $0.007, $0.013 or $0.014 per kWh (and this is a low estimate, most mining won't happen in very unstable countries). Let's take $0.01 because it's easy.
That means 0.2% of the global electricity consumption costs $536 milllion per year. I know nothing about Ethereum, so I had to search: apparently it creates 12,400 new coins per day. At a value of $1441 per coin, that's worth $17.9 million per day. That makes $6.5 billion per year, and it's likely a large part of that money is spent on electricity.
That means 0.2% of global electricity consumption sounds plausible

Now back to Bitcoin: Bitcoin mining consumes quite a bit of power, to ensure the blockchain can't be changed. With Ethereum, it was shown years ago it hard forks and abandoned it's core principle ("code is law") the moment it was convenient for the rich creator. Since it's that centralized, all this hashing power is completely wasted! It could just as well be one computer in Vitalik's basement keeping records of the "blockchain".

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[execijutiere]

The market has started to fall again. This time I feel like ethereum's decline has started to affect bitcoin. Such a decline of the major altcoin will also affect the market after the merge update. If Bitcoin tests the 17 thousand band, it will be positive for the market. There is a small war going on right now. If the needle came to 19 thousand 400 dollars, if it breaks downwards, it will drop to 17 thousand 500.

[Lucius]

~snip~
Now back to Bitcoin: Bitcoin mining consumes quite a bit of power, to ensure the blockchain can't be changed. With Ethereum, it was shown years ago it hard forks and abandoned it's core principle ("code is law") the moment it was convenient for the rich creator. Since it's that centralized, all this hashing power is completely wasted! It could just as well be one computer in Vitalik's basement keeping records of the "blockchain".

If the data is correct, and that little self-centered character who is constantly trying to do something better than Bitcoin (in any sense), spent twice as much energy mining his centralized coin until yesterday. Now overnight he became the savior of the world because that 0.2% will change something?


Source

[ChartBuddy]

Explanation

[Torque]

For all those concerned about recent price action just know that it won't last for that much longer. All markets are currently being driven by the actions of the CBs. Whether interest rates matter or not is not the point but the psychology certainly does. Anyway, lets see if the CBs continue to increase rates into an obvious deflationary (massively so) environment.

https://twitter.com/AndreasSteno/status/1570491515624882176?cxt=HHwWgICw-c3twMsrAAAA



CBs have only till the end of this year. After which their credibility will be blown again.

Don't think they will continue with the interest rates increases for much longer. Maybe they will get to about 4 or 4.5% tops before pivoting after which we will see a massive rally in all markets.
There will still be inflation but that will help markets also.

One key driver to the economy (at least here in the UK) is the housing market.

From what I've heard that is already getting stuck in its gears, regardless of recent news articles saying we have had 15% year on year house price increases.
Those were July figures based on sales agreed back in Feb / March mostly, well before the majority were concerned with energy increases, inflation etc.
Many of us here saw it coming, but the average Joe only heard about it much later.

Yep that's pretty much it. Current high inflation will drop, but after that we will have increased structural inflation, brought on by the fiscal responses to the upcoming deflation and other stupid government ideological reactions.

Housing is a big driver, and was a large part of the latest core inflation increase coming from the US. But every housing market in the west (not just the UK) is now falling at a pretty fast rate, when this caries over into the very lagging core inflation every CB and government will go into panic mode.

As you say markets will rocket. In this instance it is better to be early than late.

Absolutely. I predict the stonk market will begin to front-run rally at least 4-6 months prior to any Fed pivot announcement.

So if you see markets start to rally in December, you'll already know what's coming from the Fed in the spring.

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[JimboToronto]

If you feed stray cats, you shouldn't complain when they shit on your porch.

Cats don't shit on porches. Dogs do.

Cats are smart enough to bury their shit.

[eXPHorizon]

My dear followers we are the Gods now !

[xzy887]

Source: https://twitter.com/BitcoinMagazine/status/1570828463006969858

[Paashaas]

https://twitter.com/latestinspace/status/1570532559528022016

[ChartBuddy]

Explanation

[eXPHorizon]

https://youtu.be/N3Ik3FX_h6k

They can never outdo us we are Naturaly gifted the very thing they vowed to surpress. You instinctly know the truth and that is what makes you a part of the greatest group to walk the modern earth.

[cygan]

[xhomerx10]

https://twitter.com/latestinspace/status/1570532559528022016

 Seems like it might be cat shit

[ChartBuddy]

Explanation

[Mpamaegbu]

That tweet should mean a lot. In the past few years, with that type of tweet, Bitcoin would've gone ballistics. Let's see how the market reacts to it now



Source: https://twitter.com/theRealKiyosaki/status/1570803852252975104?t=bmoZ8wH08s82NWXWAUMlkg&s=19

[Toxic2040]

the noon wall report


range tightening as we approach the bottom of this retrace and move towards next weeks rate hike
declining volatility over the weekend expected
still hodling near $20kish despite all the things
steady as she goes



dyor


4h


D

stronghands

[Arriemoller]

maybe consider using shamir backup..

Thanks, always open for useful suggestions.
As the NANO-S is somewhat limited, i consider some upgrade in the future, but i had some doubts (not so much related to security) to buy a trezor in the past, but i am going to look into it again soon.

Just write a big note to yourself saying "Ich habe meine Bitcoins versteckt" even if someone sees the note, they wont know where thay are versteckt, and you can go searching your surroundings immediately instead of spending half a day swetting in angst.

[ChartBuddy]

Explanation