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

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

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[bitcoinPsycho]

GO GO GO

[LFC_Bitcoin]

44K in one hour tbc

Not far off.

Finally broke $44,000 after being stuck in the $42,000 to $43,200 range for what seemed like a while.

Grayscale selling drying up, OTC supply diminished, halving soon, moon loading?

[OgNasty]

Sounds like too much tobacco!
I never had anxiety problems, even from THC-heavy (+10%) weed as long as i vaped it (and that are quite some years now).
However, when i was smoking it with tobacco in my younger years, i experienced lots of anxiety.

Occasionally, there are some studies that oerate on basis of pure substance use, and some are cross-comparable to surveys, where most participants are smoking the weed, where you can directly calculate the much lower addiction potential and much safer side-effect profile of "purified" cannabis usage. I did this in the past, my personal experience also confirms the result and numbers ususally don't lie.

Tobacco? What's that got to do with it?

There's no indication that tobacco was involved in any of the studies being discussed here. I was talking about the ratio of cannabidiol (a natural anti-psychotic) to THC in cannabis, nothing to do with tobacco.

Also 10% THC is not THC-heavy by today's standards. Many if not most high-THC strains are now over 20% THC. It's when the CBD levels are <5% that anxiety becomes a problem.

You didn't mention what the CBD levels were in your "THC-heavy (+10%) weed". A nice 10% CBD/10% THC balance shouldn't create any anxiety.

Hold on, dude!
I didn't doubt or question the importance of the role of the THC/CBD ratio, nor would i ever do.
Also, 10%+ includes any figure above, even 24% (which was the "strongest" i personally tried, yet).
As a matter of fact, you're completely right regarding the balance of those two cannbinoids, just to make that clear.
But: Alcaloids contained in tobacco (and possibly additives) contribute to interdependent effects with cannabinoids.

However, the study isn't linked from the article, but i may quote this part:

“They might have been having some kind of mental health concerns, were feeling quite depressed and also smoking cannabis very regularly. None of these people had an emergency room visit for anxiety when they first showed up,” he said.

And cannabis is commonly smoked mixed with tobacco, innit?
I didn't see any hint that mixed use consumers were excluded in the study. I can tell you from the plenty of studies i have read so far: Usually they are not. The wording "Cannabis use" usually doesn't differ between smoking, eating, pure or mixed, extracted by using oil, alcohol or gas. But it makes a difference. It has to, it is simply biochemistry at work here.

Again: No offense regarding the effects of cannabinoid balance, which is a proven fact, but when the media (and also studies) are pointing out "cannabis use", they don't mean pure cannabis. That's a major flaw to the disadvantage of that magic present of nature and how it is percieved by the public and also medical realm. I can't believe that "scientists" are working at such a level of imprecision.
And again: I was diagnosed for panic attacks (social anxiety), which mysteriously disappeared soon after i quit smoking tobacco. Nicotine is a neurotoxin. Add this up with "smoking cannabis very regularly" from the quoted part of the article. Click?

 

I avoid tobacco at all costs but there are people who only smoke blunts rolled in tobacco leaves.  It was more popular 20 years ago before the invention of the "pre-roll" that you see nowadays, but old habits die hard for some folks.

As far as the THC% discussion...  It would be hard to find a strain with lower than 20% THC in my area and strains containing as high as 35% are common for the right price.  They even have "infused" pre-rolls now that I've seen with 45% THC content for as low as $6 a piece...  Times are changing...

My $0.02 on the anxiety and CBD argument...  There are more than 420 chemicals in cannabis and more than 50 of them are cannabinoids.  I believe it would be foolish to try and break down anxiety to only the ratio of THC/CBD.  Tip of the iceberg friends.  This is why you shouldn't judge cannabis by the THC or the CBD content and instead by the feeling YOU get from it, as all people are also different.  Longtime Humboldt County farmers who have worked on their strains for generations absolutely HATE that people boil their decision on what to purchase down to the THC content only.  It's just a piece of the equation.  People used to obsess about Indica vs Sativa, now they talk about different levels of the 4 major cannabinoids that have been studied: d9THC, CBD, d8THC and cannabinol.  In time the levels of these 4 cannabinoids used to determine the effects of cannabis will be expanded to 50+ and there will be a rating system with charts and things.  For now, it's just easiest to look at THC content, but don't fool yourself into thinking that's an accurate reflection of the differences in strains.  The opinion of a smoker on a strain is far superior than the determination of a lab, for now.  My opinion: Gorilla Glue is the best strain regardless of what lab tests say about percentages or ratios of different crops.  

Oh ya... BITCOIN IS BACK ABOVE $44,000!  The post ETF profit taking appears to be in the rearview.  

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[xhomerx10]

Sounds like too much tobacco!
I never had anxiety problems, even from THC-heavy (+10%) weed as long as i vaped it (and that are quite some years now).
However, when i was smoking it with tobacco in my younger years, i experienced lots of anxiety.

Occasionally, there are some studies that oerate on basis of pure substance use, and some are cross-comparable to surveys, where most participants are smoking the weed, where you can directly calculate the much lower addiction potential and much safer side-effect profile of "purified" cannabis usage. I did this in the past, my personal experience also confirms the result and numbers ususally don't lie.

Tobacco? What's that got to do with it?

There's no indication that tobacco was involved in any of the studies being discussed here. I was talking about the ratio of cannabidiol (a natural anti-psychotic) to THC in cannabis, nothing to do with tobacco.

Also 10% THC is not THC-heavy by today's standards. Many if not most high-THC strains are now over 20% THC. It's when the CBD levels are <5% that anxiety becomes a problem.

You didn't mention what the CBD levels were in your "THC-heavy (+10%) weed". A nice 10% CBD/10% THC balance shouldn't create any anxiety.

Hold on, dude!
I didn't doubt or question the importance of the role of the THC/CBD ratio, nor would i ever do.
Also, 10%+ includes any figure above, even 24% (which was the "strongest" i personally tried, yet).
As a matter of fact, you're completely right regarding the balance of those two cannbinoids, just to make that clear.
But: Alcaloids contained in tobacco (and possibly additives) contribute to interdependent effects with cannabinoids.

However, the study isn't linked from the article, but i may quote this part:

“They might have been having some kind of mental health concerns, were feeling quite depressed and also smoking cannabis very regularly. None of these people had an emergency room visit for anxiety when they first showed up,” he said.

And cannabis is commonly smoked mixed with tobacco, innit?
I didn't see any hint that mixed use consumers were excluded in the study. I can tell you from the plenty of studies i have read so far: Usually they are not. The wording "Cannabis use" usually doesn't differ between smoking, eating, pure or mixed, extracted by using oil, alcohol or gas. But it makes a difference. It has to, it is simply biochemistry at work here.

Again: No offense regarding the effects of cannabinoid balance, which is a proven fact, but when the media (and also studies) are pointing out "cannabis use", they don't mean pure cannabis. That's a major flaw to the disadvantage of that magic present of nature and how it is percieved by the public and also medical realm. I can't believe that "scientists" are working at such a level of imprecision.
And again: I was diagnosed for panic attacks (social anxiety), which mysteriously disappeared soon after i quit smoking tobacco. Nicotine is a neurotoxin. Add this up with "smoking cannabis very regularly" from the quoted part of the article. Click?

 

I avoid tobacco at all costs but there are people who only smoke blunts rolled in tobacco leaves.  It was more popular 20 years ago before the invention of the "pre-roll" that you see nowadays, but old habits die hard for some folks.

As far as the THC% discussion...  It would be hard to find a strain with lower than 20% THC in my area and strains containing as high as 35% are common for the right price.  They even have "infused" pre-rolls now that I've seen with 45% THC content for as low as $6 a piece...  Times are changing...

My $0.02 on the anxiety and CBD argument...  There are more than 420 chemicals in cannabis and more than 50 of them are cannabinoids.  I believe it would be foolish to try and break down anxiety to only the ratio of THC/CBD.  Tip of the iceberg friends.  This is why you shouldn't judge cannabis by the THC or the CBD content and instead by the feeling YOU get from it, as all people are also different.  Longtime Humboldt County farmers who have worked on their strains for generations absolutely HATE that people boil their decision on what to purchase down to the THC content only.  It's just a piece of the equation.  People used to obsess about Indica vs Sativa, now they talk about different levels of the 4 major cannabinoids that have been studied: d9THC, CBD, d8THC and cannabinol.  In time the levels of these 4 cannabinoids used to determine the effects of cannabis will be expanded to 50+ and there will be a rating system with charts and things.  For now, it's just easiest to look at THC content, but don't fool yourself into thinking that's an accurate reflection of the differences in strains.  The opinion of a smoker on a strain is far superior than the determination of a lab, for now.  My opinion: Gorilla Glue is the best strain regardless of what lab tests say about percentages or ratios of different crops.  

Oh ya... BITCOIN IS BACK ABOVE $44,000!  The post ETF profit taking appears to be in the rearview.  

 Wait... you've never had a sip of coffee?  I thought it was a "my body is a temple" thing but now I'm perplexed.

[xhomerx10]

Okay, I did my 100 sips - the first 50 were a cafe Americana which I made with a double shot of Guji, Ethiopian Gigesa heirloom from my espresso machine.  (If you like a strong tasting coffee, it isn't for you.  It's quiet subtle but nice for a change)  The second 50 sips was the daily medium Tim Hortons I have with my parents.  After that, I did a 5km brisk walk.  All this talk about fitness made me realize I haven't done much in the way of exercise since around Sept.  Thanks for shaming me into it, gentlemen.  What's the point of hodling if I wont be around to take advantage?

It's good that you have the realisation and next thing is to focus on your fitness. Just spare 30 mins for exercise 5 times a week and you will be good to go. If you do regular exercise then your body will be addicted to it and you will find comfort in it. Don't take exercise as fatigue rather enjoy it.
Take blood readings after 3 months of regular exercise and you will clearly the difference.

 Thanks for the encouragement and advice.  I can tell you with certainty I will never become addicted to it though.  I've always likened exercise to hitting myself over the head with a hammer; it feels best when I stop.  I will do my best to persevere.  My triglycerides and cholesterol were slightly elevated on my last blood test and I'll have it checked again in a few months.

[OgNasty]

Wait... you've never had a sip of coffee?  I thought it was a "my body is a temple" thing but now I'm perplexed.

No, I've never had a sip of coffee.  Not because my body is a temple, but because I've just never felt the need.  I see people wake up and say they can't function until they've had their coffee.  That's enough for me to not want to ever get on that train.  I wake up ready for anything.  

My body is less like a temple and more like a monster truck.  I'm more of a live fast die young sort of fella.  I don't lift weights for my health, I do it to make the ride in the truck more fun.

A more on topic post...  It appears like we've been stuck in a trading range for 3 months now.  With this latest change of direction I think we're likely to see a retest around the $48K range.  If that breaks, there's really just one more major level at $52K to smash through before a straight run to the all time high.  We're closer to new highs than people think right now, but a lot of selling is coming in the pipeline that will delay the ride.

[Ambatman]

Grayscale selling drying up, OTC supply diminished, halving soon, moon loading?

Bullish already.
$43K can now serve as a strong support
There's nothing holding Bitcoin from hitting above the $49K mark.
Except maybe the MtGox sales but that would be corrected within a day or two
Strongly bullish in the week and month time frame.

My body is less like a temple and more like a monster truck.  I'm more of a live fast die young sort of fella.  I don't lift weights for my health, I do it to make the ride in the truck more fun.

Still on the challenge.
Did 43 before had to add one some minutes ago
Let's see if I would add another before the day runs out.

This pump so welcoming to me added to my portfolio early this month during its testing 41K .
Average price still around $39K
Lord Never felt green was this attractive.

Bitcoin catching up to Chart Buddy already.

[xhomerx10]

Wait... you've never had a sip of coffee?  I thought it was a "my body is a temple" thing but now I'm perplexed.

No, I've never had a sip of coffee.  Not because my body is a temple, but because I've just never felt the need.  I see people wake up and say they can't function until they've had their coffee.  That's enough for me to not want to ever get on that train.  I wake up ready for anything.  

My body is less like a temple and more like a monster truck.  I'm more of a live fast die young sort of fella.  I don't lift weights for my health, I do it to make the ride in the truck more fun.

A more on topic post...  It appears like we've been stuck in a trading range for 3 months now.  With this latest change of direction I think we're likely to see a retest around the $48K range.  If that breaks, there's really just one more major level at $52K to smash through before a straight run to the all time high.  We're closer to new highs than people think right now, but a lot of selling is coming in the pipeline that will delay the ride.

 Oh, well there's mega cups of coffee for wakefulness but there's so much more to it.  
I took a small bag of the Ethiopian Gigesa (they also call it Geisha) to my brother's place last time we visited and my nephew was home from school with his girlfriend.  She (let's say Ruby) said she doesn't drink coffee; doesn't like it.  I got my sister-in-law to grind and brew some up (she's really good at it - she used to run her own specialty coffee cart) for us and we gave a small cup to Ruby.   She said, "Wow.  I don't usually like coffee but I would drink this!"  

 I stumbled on this particular variety very recently so it's still quite a new experience.  This one I drink to enjoy - the Tim Horton's is just a social drink and when I was working shift, idgaf what it was as long as it had caffeine in it.  Other varieties I drink to enjoy are Hawaiian Kona, Jamaican Blue Mountain, Ethiopian Yirgacheffe and Kenya "AA".   Anyone else reading this, feel free to give me suggestions for a new variety to sample.

[OgNasty]

Except maybe the MtGox sales but that would be corrected within a day or two

Don't be so quick to dismiss the effect that the mtgox coins could have on the market.  Last time I looked the discussion was that about 130,000 BTC were going to hit the market once the coins are distributed.  After April we're looking at 450 BTC per day being added to the system.  That's like damn near dumping a year's worth (289 days) of BTC supply on the market overnight.  While there are certainly funds and OTC buyers lining up to get their hands on a massive chunk of BTC without moving the market, there's no way to tell if those 130K are going to be absorbed or cause an absolute market crash until it happens.  My hope is that people with deep pockets will see this as an entry point the way Tim Draper did back in 2012/2013 with the government auction of a massive amount of coins, but I wouldn't say it's certain.

Oh, well there's mega cups of coffee for wakefulness but there's so much more to it.  

I'm sure there's more to it.  Like with cigarettes, I sometimes see people out smoking or drinking their morning coffee and just taking in their surroundings.  I like that part of it.  I guess I'm a weirdo, but I think that prolonged use of anything causes your body to stop providing certain things as it adapts.  Coffee drinkers wake up useless without their coffee for example while others don't.  Along that same line of thinking, people who use chapstick always seem to have chapped lips...  I don't want to be always tired without an upper like coffee, whereas with downers like weed, your body has to fight to stay "up" which I think is better than it fighting to stay down.  Perhaps a downright looney bin take on substances, but it's mine.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Ambatman]

Except maybe the MtGox sales but that would be corrected within a day or two

Don't be so quick to dismiss the effect that the mtgox coins could have on the market.  Last time I looked the discussion was that about 130,000 BTC were going to hit the market once the coins are distributed.  After April we're looking at 450 BTC per day being added to the system.  That's like damn near dumping a year's worth (289 days) of BTC supply on the market overnight.  

I thought it was BTC worth $130 million.
130K btc is huge,  that's like almost $6Billion
 But according to what I read the stipulated deadline is October and not all funds would be paid this year. 

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[philipma1957]

buddy with a small lift to 44k.

Maybe we go up more.

[OgNasty]

Except maybe the MtGox sales but that would be corrected within a day or two

Don't be so quick to dismiss the effect that the mtgox coins could have on the market.  Last time I looked the discussion was that about 130,000 BTC were going to hit the market once the coins are distributed.  After April we're looking at 450 BTC per day being added to the system.  That's like damn near dumping a year's worth (289 days) of BTC supply on the market overnight.  

I thought it was BTC worth $130 million.
130K btc is huge,  that's like almost $6Billion
 But according to what I read the stipulated deadline is October and not all funds would be paid this year. 

It's definitely more than $130 million.  I had thought the number was closer to 200K BTC, but the number being kicked around in chats outside this forum is 130,000 BTC, so that's what I mentioned.  You're right that only the early payout recipients will be paid soon, but I believe that makes up a large amount of the BTC being paid out.  It's a massive amount of BTC and I would be shocked if it didn't cause a noticeable decline on the market, but who knows...  Maybe enough people have gone short or are awaiting on the sidelines to balance it out, but like I said, I'd be shocked.  That's a huge number.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[JayJuanGee]

Bitcoin ETF approval, halving coming, interest rates probably going down in 2024 are good but the fact is miners are selling, ETFs inflows are good but not great, companies are being prudent and lay off workers.

The effects of higher interests are increasing everyday since loans are coming due for renewal everyday.

I see a new test under 40K$ before halving.

Oh gawd..

 


Good luck with that.

Sure it is possible, but hoping for down (or waiting and failing to buy) when we already had a correction down to $38,500 seems to be not very reasonable to expect.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com