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

[ChartBuddy]

Explanation

[sirazimuth]

.....

Bitcoin has POW  ...in fact it's the strongest POW network on earth.

Energy is limited.

It's extremely difficult run a second BTC, because you cannot inflate energy.

But you can inflate the number of non-POW shitcoins to infinity.


Right now, no shitcoin can possibly reach Bitcoin's unique power physically.  So shitcoiners try it at least verbally, hoping to dupe enough people into buying their trash.

Lacking own real power, shitcoins are desperate to present themselves as being unique. That's why they gather around and compare themselves to the most powerful player which is BTC.

......

Totally agreed,
But here's the thing... (I've paraphrased/posted this before) yes, shitcoins wouldn't have any value were it not for bitcoin.
Unfortunately, and very sadly, that statement in reverse has considerable merit. 
Think about it.
Don't get me wrong, I'd love to see shitcoins evaporate ... but it's not gonna happen. As long as King Daddy rules/exists, the shitcoins will too. Deal with it.
(we can't advocate outlawing them, that's against libby ideology ain't it?)

(bracing myself for the inevitable batslaps and the like)

[ChartBuddy]

Explanation

[OROBTC]

...

JJG 627118

Yeah, I've seen the Citadel but just now noticed the ranks (as nobility) just to the right of the mount.

I suspect we all wish we were one or two levels higher than we are now...  LOL

[Gachapin]

...

JJG 627118

Yeah, I've seen the Citadel but just now noticed the ranks (as nobility) just to the right of the mount.

I suspect we all wish we were one or two levels higher than we are now...  LOL

and the top is vacant

rip Bogdanoffs

[ChartBuddy]

Explanation

[Hyperjacked]

Gotta ta buy a hydroelectric plant when real estate dumps next year before the 2024 halving ... 
Upstate New York's oldest plant started mining Bitcoin last year because national grid wanted cheap electric.... love it . Old article but worth the read .
Cheers holders n miners 
https://news.bitcoin.com/123-year-old-hydroelectric-plant-sees-new-life-mining-bitcoin-revenue-3x-higher-than-selling-to-the-grid/

[Gachapin]

.....

Bitcoin has POW  ...in fact it's the strongest POW network on earth.

Energy is limited.

It's extremely difficult run a second BTC, because you cannot inflate energy.

But you can inflate the number of non-POW shitcoins to infinity.


Right now, no shitcoin can possibly reach Bitcoin's unique power physically.  So shitcoiners try it at least verbally, hoping to dupe enough people into buying their trash.

Lacking own real power, shitcoins are desperate to present themselves as being unique. That's why they gather around and compare themselves to the most powerful player which is BTC.

......

Totally agreed,
But here's the thing... (I've paraphrased/posted this before) yes, shitcoins wouldn't have any value were it not for bitcoin.
Unfortunately, and very sadly, that statement in reverse has considerable merit.  
Think about it.
Don't get me wrong, I'd love to see shitcoins evaporate ... but it's not gonna happen. As long as King Daddy rules/exists, the shitcoins will too. Deal with it.
(we can't advocate outlawing them, that's against libby ideology ain't it?)

(bracing myself for the inevitable batslaps and the like)

shitcoins will probably never disappear.  
they feed on easily manipulated or ignorant people,  and of these we have a never ending natural supply

I absolutely don't buy the idea that Bitcoin wouldn't have any value without shitcoins.  
it certainly had value, when there weren't any shitcoins around.  

all shitcoins came into existence in the slipstream of Bitcoin.  
most of them wouldn't use POW... because compared to BTC they would obviously look like shit ...check the ones that tried: LTC, BCH, BSV etc ... (willing to be merciful with XMR)

if I had to choose, I would rather support the idea that Bitcoin had a higher market cap without any shitcoins around
...and many people would have had easy gains with BTC instead of loosing money with p&d shitcoins

[sirazimuth]

...

JJG 627118
.....

Interesting way to quote. Never seen that before. I like it.

....

oh bitmain has a really good sale on the s19 pro miner

https://support.bitmain.com/hc/en-us/articles/10687719622681

this miner will come about oct 20 and come with a 30% off next unit.

Go to CoinWarz and plug in numbers. If one is paying 10 cents per kwh, (dirt cheap) one makes 48 cents a day. If your electric rate is over 10 cents per kwh, you're mining at a loss at todays price... OOF!
Now granted, that obviously does not take into account what bitcoin price will be in future. DYOR.
I did this back in 2015, ie ....mined at a loss, but hodeled and banked on bitcoin price going up, and it did, and I did quite well.
Today, I'm gonna pass, thank you. (I pay .22 per kwh)
I'll just continue DCA'ing as I have been since 2015.

[ChartBuddy]

Explanation

[sirazimuth]

....

I absolutely don't buy the idea that Bitcoin wouldn't have any value without shitcoins.  
it certainly had value, when there weren't any shitcoins around.  

......

Of course bitcoin would still have value without shitcoins in the mix.
My point is that it would drop in value if shitcoins were to evaporate overnight. Obviously they won't, just a thought experiment , if you will.
And that's not to say it wouldn't regain its previous value over time. I'm sure it would.
But again, as you agreed, shitcoins will always be part of equation, like it or not.

[vapourminer]

....

I absolutely don't buy the idea that Bitcoin wouldn't have any value without shitcoins.  
it certainly had value, when there weren't any shitcoins around.  

......

Of course bitcoin would still have value without shitcoins in the mix.
My point is that it would drop in value if shitcoins were to evaporate overnight. Obviously they won't, just a thought experiment , if you will.
And that's not to say it wouldn't regain its previous value over time. I'm sure it would.
But again, as you agreed, shitcoins will always be part of equation, like it or not.

i wonder.

when i started there was only bitcoin. well, namecoin too popped up after a bit (merged mining) but that was more or less a dead end.

ergo, bitcoin worked fine. all by itself.

Bitcoin stands alone. as in, no shitcoins need apply.

[Biodom]

Is pound edging to dollar parity?
Would it be a first?
Currently below prior 1.10 low in 1985.
Things seem to move fast these days.

Waiting for the sustained upward move in btc, which might come by the end of Q1 2023, imho.

[vapourminer]

JJG 627118

Interesting way to quote. Never seen that before. I like it.

thats some opcode or machine code for the JJG bot that accidentally got displayed.. poor error trapping probably

[Gachapin]

....

I absolutely don't buy the idea that Bitcoin wouldn't have any value without shitcoins.  
it certainly had value, when there weren't any shitcoins around.  

......

Of course bitcoin would still have value without shitcoins in the mix.
My point is that it would drop in value if shitcoins were to evaporate overnight. Obviously they won't, just a thought experiment , if you will.
And that's not to say it wouldn't regain its previous value over time. I'm sure it would.
But again, as you agreed, shitcoins will always be part of equation, like it or not.

Sorry. I might have misunderstood.

I think the only difference in our view is that you seem to be quite certain that BTC would drop in value.  I'm not so sure about that.  I mean it's certainly possible!  
but who can predict the market 100%...  I could think of several variations of your thought experiment in which BTC could gain in value or stay relatively stable..


we will probably never know what would happen ...as shitcoins will live on, for sure

[sirazimuth]

.....
i wonder.
.......

That's all I do. And then I post.

.....

When i started there was only bitcoin.....

There were around 15 shitcoins when I started. I was slightly late.
******** was first coin I mined before buying two S4's and doing it properly.
(truth be told, I did briefly switch s4's to mining ******** only because profits. And I actually hit 3 blocks. Albeit, I never did hit a block of bitcoin.)

edit.... Fun quiz! who can guess that shitcoin I was briefly mining for good profit in 2015 with an S4 (Hint....SHA256, obviously)
First correct answer gets a merit. (and a batslap from jay... lol)

.....

. well, namecoin too popped up after a bit (merged mining) but that was more or less a dead end.

Yes I was mining them by default in the BTC Guild mining pool, first pool where I mined bitcoin, before it closed in 6/2015
I traded them all for additional bitcoin.
Then I just went to the standard Antpool.

.....

...... no shitcoins need apply.

Agreed, they don't need to, but they do, and now we have millions of the bastards...

[philipma1957]

...

JJG 627118
.....

Interesting way to quote. Never seen that before. I like it.

....

oh bitmain has a really good sale on the s19 pro miner

https://support.bitmain.com/hc/en-us/articles/10687719622681

this miner will come about oct 20 and come with a 30% off next unit.

Go to CoinWarz and plug in numbers. If one is paying 10 cents per kwh, (dirt cheap) one makes 48 cents a day. If your electric rate is over 10 cents per kwh, you're mining at a loss at todays price... OOF!
Now granted, that obviously does not take into account what bitcoin price will be in future. DYOR.
I did this back in 2015, ie ....mined at a loss, but hodeled and banked on bitcoin price going up, and it did, and I did quite well.
Today, I'm gonna pass, thank you. (I pay .22 per kwh)
I'll just continue DCA'ing as I have been since 2015.

I have far under 10 cents.

we just built a 280kwatt solar array.

and have 16months left on a prepaid power contract  So gear like this s19 are sold for us.

basically can't lose out other than a fire/theft of gear

[Crypt0S0ul]

Hehehe... Savage Gachapin.
Everything is possible.
You are a Bitcoin Retard.
You won't understand.

Everything is possible?

You sound like a shitcoiner, Crypt0S0ul.

Vitalik?  Is that you?

Nah. Not at all.
Crypt0S0ul is a hardcore Bitcoiner. You missed the context.
That was sarcasm by the way.
Vitalik? Fuck you vitalik.

[ChartBuddy]

Explanation

[Ami0]

The vast majority of public policy creates stagflation and there is little that you can do to change this. What you can do is buy #bitcoin    and work hard to generate income so that you can #hodl until the rest of the world realizes that BTC is the best global store of value asset.

https://twitter.com/saylor/status/1573362241956716545?t=KYR5MOVYcMbFw2j1kIjJ9w&s=19