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

[philipma1957]

weekly dca stats

X equals fiat units.


BTC dca
nov 04 >>>>>> 01x
nov 11  >>>>>>  02x
nov 18  >>>>>    03x
nov 25 >>>>>    04x
dec 02 >>>>>    05x
dec 09 >>>>>    06x
dec 16 >>>>>     07x
dec 23  >>>>       08x
dec 30 >>>>>     09x
jan 06  >>>>>     10x
jan 13  >>>>>      11x
jan 20  >>>>>      12x ended my Friday 1x fiat dca

Jan 25 >>>>>      14x began my 2x weds fiat dca
Feb 01 >>>>>       16x
Feb 08>>>>>       18x
Feb 15>>>>>        20x


I also purchased 4x+4x+4x  at 15.7 15.9 16.1 back in November 2022


So My coin purchases have been 32x of fiat since nov 2022

As JJG suggested I am keeping these numbers separate from my mining earnings and gear purchases.

My goal will be a minimum of 200x units of purchased btc so I have 168x to go or 84 weeks of dca.

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[BountyProgram]

BTCitcoin is up nearly 50% in 2023

[goldkingcoiner]

Good morning Bitcoinland.

I see another AYH. How pleasant.

$25k soon?

Looking at Coinbase, has already been claimed

I would not listen to anything Coinbase says. The CEO spread FUD to drive down the price and it turned out to be completely out of context (SEC was only cracking down on Kraken due to their scheme, which was built on top of the staking system. It had nothing to do with real staking.).

I think the CEO of Coinbase knew that. I think he used the chance to spook people into selling during an obvious pump.

NEVER TRUST A CENTRALIZED EXCHANGE!

[shahzadafzal]

Satoshi Nakamoto 14 years ago today

[ChartBuddy]

Explanation

[JayJuanGee]

GM........

......To drive some "unscalable blockchain" narrative, like "bitcoin may bloat up in size and slow down to halt s00n"-like stuff?
Just wondering.

Tick tock, next block.

Bitcoin gives no shits.

A new block every 10 minutes, give or take 5 minutes.


& GM to uie-pooie too.

...Well, I found out why the blockchain is clogged up with so many UTXOs that otherwise seem to have no function...  Ordinals/inscriptions.  Examples (these two aren't bad, but a lot of stupid stuff being posted):
https://ordinals.com/inscription/625d1f451777031065aaf1530ec7aecf5e4885f3b0c06b9fc5dbbc6aaf439d0di0  <== Bill Gates soon?
https://ordinals.com/inscription/fdad3bc7513e5522e3fbf69f5c03085df489fc7e27881c7ba64f7cadc5c6dccci0  <== a newspaper headline
https://ordinals.com/inscriptions  <== inscriptions explorer
I would (likely) be against ordinal inscriptions, as they do seem to slow things down, and Bitcoin's blockchain's best and highest value is for moving money.  IMO.
Edited for errors, geez that took a while...

I had to deposit some corn into Kraken yesterday. Was scared from what I saw on https://jochen-hoenicke.de/queue/.
At the end I paid a fee of ~$0.35 (@ 7sat/vb) to move ~0.2 BTC within 15minutes.
IMO this whole ordinal crap just lifted the base fee from 1sat/vb to 5-10sat/vb which is still incredibly cheap for what it is.
Me thinks it looks like the whole fee-market-mechanic built into Bitcoin is working as intended.

Even if mempool is having a huge queue right now, it is almost exclusively 1sat/vb transactions, pay a little more and things are as fine as they were before ordinals came along.
<thisisfine.jpg>

Exactamente...   A big nothing burger... those getting worked up about it are attacking bitcoin from my point of view... .. when believing there is some kind of "urgent" need to fix something (or to even think about fixing something) that is not a problem.. not broken.

[dragonvslinux]

Now it get's interesting imo. This is current outlook superimposing macro levels (Weekly) onto short-term time frame (15M). Currently in between the 50 & 200 Week MAs, attempting to turn the former into support.



50 Week MA @ $24.739 and declining (bearish). 200 Week MA @ $25,012 and rising (bullish). Volume zone highlighted for context. Turning the 50 WMA into support is the key here.

[gembitz]

/\25OOO floor spin here we go ~ left foot right foot \_-_-_/ boom

____RARE PEPE NFTS ON BTC CHAIN ORDINALS GOGOGOGO___

[Crypto Library]

This week or next week ??

[vroom]

This week or next week ??

today or tomorrow?

[jojo69]

"Well, I call it crypto shit. It's worthless, it's no good, it's crazy, it'll do nothing but harm, it’s antisocial to allow it,"

[JayJuanGee]

So My coin purchases have been 32x of fiat since nov 2022

As JJG suggested I am keeping these numbers separate from my mining earnings and gear purchases.

My goal will be a minimum of 200x units of purchased btc so I have 168x to go or 84 weeks of dca.

Yeah, but you have been pretty silent in regards to whether you were able to buy back the BTC that you sold at around sub $20k prices.  How did that work out?

All fine and dandy if you had $100k worth of BTC that you sold at or below $20k, and then you were able to buy $40k back below your sales price and you are scrambling to get back the other 60% at prices that are higher than your sales price.. even though you feel good about it.. you still end up losing and would have had been better off if you had not sold on the way down in the first place.

Another thing that you can proclaim is that your finances "are complicated" because your selling of BTC below $20k allowed you to be able to "invest in mining equipment" that had been way lower prices and opportunities that became available than such mining equipment had been higher prices prior to BTC's price dropping below $20k. .. so perhaps you will have had made up for your sub $20k sales of BTC in the long run so long as your mining ends up sufficiently paying off.. but perhaps, it is too complicated, and in reality, selling BTC below $20k was not such a great idea.. whether you used such proceeds to invest in mining equipment or not.

This week or next week ??

Nice little "gradual" and ongoing UPpity (maybe our starting base might be in the ballpark of $16,666-ish) since the beginning of the year... that is seemingly "scary" (for some peeps), no?

"Well, I call it crypto shit. It's worthless, it's no good, it's crazy, it'll do nothing but harm, it’s antisocial to allow it,"

Exactly!!!!

I don't like that word: "crypto" either.

[ChartBuddy]

Explanation

[Phil_S]

1.5x per year?

[Volgastallion]

GM........

......To drive some "unscalable blockchain" narrative, like "bitcoin may bloat up in size and slow down to halt s00n"-like stuff?
Just wondering.

Tick tock, next block.

Bitcoin gives no shits.

A new block every 10 minutes, give or take 5 minutes.


& GM to uie-pooie too.

...Well, I found out why the blockchain is clogged up with so many UTXOs that otherwise seem to have no function...  Ordinals/inscriptions.  Examples (these two aren't bad, but a lot of stupid stuff being posted):
https://ordinals.com/inscription/625d1f451777031065aaf1530ec7aecf5e4885f3b0c06b9fc5dbbc6aaf439d0di0  <== Bill Gates soon?
https://ordinals.com/inscription/fdad3bc7513e5522e3fbf69f5c03085df489fc7e27881c7ba64f7cadc5c6dccci0  <== a newspaper headline
https://ordinals.com/inscriptions  <== inscriptions explorer
I would (likely) be against ordinal inscriptions, as they do seem to slow things down, and Bitcoin's blockchain's best and highest value is for moving money.  IMO.
Edited for errors, geez that took a while...

I had to deposit some corn into Kraken yesterday. Was scared from what I saw on https://jochen-hoenicke.de/queue/.
At the end I paid a fee of ~$0.35 (@ 7sat/vb) to move ~0.2 BTC within 15minutes.
IMO this whole ordinal crap just lifted the base fee from 1sat/vb to 5-10sat/vb which is still incredibly cheap for what it is.
Me thinks it looks like the whole fee-market-mechanic built into Bitcoin is working as intended.

Even if mempool is having a huge queue right now, it is almost exclusively 1sat/vb transactions, pay a little more and things are as fine as they were before ordinals came along.
<thisisfine.jpg>

Exactamente...   A big nothing burger... those getting worked up about it are attacking bitcoin from my point of view... .. when believing there is some kind of "urgent" need to fix something (or to even think about fixing something) that is not a problem.. not broken.

Please return the account to the real JayJuanGee, its so easy to know he wasnt him, less than 458124211241215 words in a post on WO? No way. 

[ChartBuddy]

Explanation

[JayJuanGee]

1.5x per year?

Why switch?

Weren't you a 2x per year kind of a guy?

[philipma1957]

1.2 a year is more than good enough.

2003 gold was 400 it is now 1800.  if it had done 1.2 a year we would be at 15,335


at 1.2 a year BTC  in 20 years.


16.70                         jan 2023
20.04                         jan 2024
24.048                        jan 2025
28.8576                      jan 2026
34.62912                    jan 2027
41.554944                  jan 2028
49.8659328                 jan 2029
59.83911936.             jan 2030
71.806943232>>>     jan 2031
86.1683318784>>>   Jan 2032
103.40199825408>>  jan 2033. ten years time

640k in 20 years time if it does 1.2%

[Phil_S]

Why switch?

Weren't you a 2x per year kind of a guy?

I'm pro-reality kind of guy.

[ChartBuddy]

Explanation