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

[LFC_Bitcoin]

@thescalpingbro
BTC  - Historically consolidation near the all-time highs Isn't Bearish 👀

https://x.com/thescalpingpro/status/1783541482311336046

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[DaRude]

Another day another BTC2k being shat out by GBTC, that's 4x the current supply. I must admit i was wrong with my expectations that announcement of mini spin off will slow down the outflows. What this tells us is that they're actually selling GBTC and not just reshuffling into lower fee ETF. On the bright side, GBTC now holds just under BTC300k, so at this rate just 150more days, max... (120 if they seed mini with BTC60k)

[Richy_T]

Getting internal errors from talkimg.

[JimboToronto]

Epoch 4 3.125 BTC block reward? Where is that coming from?

Epoch 1 was 50 BTC per block, epoch 2 was 25, epoch 3 was 12.5, etc.

How did epoch 4 skip down to 3.125? What happened to 6.25?

[DaRude]

Epoch 4 3.125 BTC block reward? Where is that coming from?

Epoch 1 was 50 BTC per block, epoch 2 was 25, epoch 3 was 12.5, etc.

How did epoch 4 skip down to 3.125? What happened to 6.25?

Silly humans Epoch 0 was 50BTC

[xhomerx10]

Getting internal errors from talkimg.

 Hey philipma1957!  Now's your chance to catch up!  Go go go!

 I mean, that sucks.  I thought we had a imgur replacement but...

[JimboToronto]

Epoch 1 was 50 BTC per block, epoch 2 was 25, epoch 3 was 12.5, etc.

How did epoch 4 skip down to 3.125? What happened to 6.25?

Silly humans Epoch 0 was 50BTC

Nonsense. It's like centuries.

Years 1 to 999 were the 1st century. Years 2000 to 2024 (so far) is the 21st century.

There was no zeroth century.

[Biodom]

Epoch 1 was 50 BTC per block, epoch 2 was 25, epoch 3 was 12.5, etc.

How did epoch 4 skip down to 3.125? What happened to 6.25?

Silly humans Epoch 0 was 50BTC

Nonsense. It's like centuries.

Years 1 to 999 were the 1st century. Years 2000 to 2024 (so far) is the 21st century.

There was no zeroth century.

Apart from the obvious typo of 999 instead of 99, it is an inherently contradictory statement because you start current century with a "0" (aka 2000), but you started the first century with a "1".
That said, there was no zeroth century (AD or any other count), indeed.

[AlcoHoDL]

Epoch 1 was 50 BTC per block, epoch 2 was 25, epoch 3 was 12.5, etc.

How did epoch 4 skip down to 3.125? What happened to 6.25?

Silly humans Epoch 0 was 50BTC

Nonsense. It's like centuries.

Years 1 to 999 were the 1st century. Years 2000 to 2024 (so far) is the 21st century.

There was no zeroth century.

About Epoch 0 being the first one, it's a computer programming thing. Array indexing in C++ always starts at zero, so array[0] is a valid element, equivalent to all others. Of course, a programmer can take care of this, for aesthetic reasons, and shift things by 1 to make the counter more human-friendly, but the Bitcoin code is meant to be very lean and pure, as it should be, so everything is written in vanilla C++ code.

[JayJuanGee]

Damn, looks like we're poor again.

hahahahaha

Stay the fuck calm!!!!!!!!!!!

wait did i miss poor mode again? man im always missing out

How could you forget about our having had gone into poor mode?  Currently, as I type this post, with BTC prices around $64,337, we are nearly 13% down from our March 13 ATH.. If that is not poor, then what is?

I also feel that it is so strange that there are so many ongoing attacks on bitcoin in these kinds of times, so there's gotta be some kind of way to scare folks out of their coins.. and some of us stubborn ones, we are too busy buying when the BTC price drops, so we might not even realize that in the whole scheme of things, we are becoming more poor when the price goes down - even though previously, some of us might have also been pondering over how amazing that it has been to go from $27k to nearly $74k in a matter of 5 months, even though we corrected back down to a mere $64.3k... 

and I know some folks (maybe especially newbies?) keep repeating the lack of historical precedent of the BTC price going above its prior ATH before the halvening even occurred.. so if they might be suggesting going from $27k to nearly $74k in a little less than 4.5 months, which surely is right around 2.75x, and so it might have had been a premature overexuberance, but we also had something similar from April 2019 to late July 2019, with a price rise of $4,200 to $13,880 (which is about 3.5x), and yeah that was not sustainable with out some kind of leveling off, so even if these price rises (the reasons for them) and the exact location of them in the cycle does not match with precision, there can be too much expectation of exact matching instead of appreciating that these outrageous UPs and DOWNs sometimes happen, but at the same time, you are not going to get me all excited about even a 19% drop, which would be the measurement of our $59,629 low, which happened to be slightly more than 1 day prior to the halvening.

Shit happens, and who knows which way it is going to go exactly, but it is hardly even worth waking up from whatever else we might be doing to make sure we go out and buy a 24 count of our favorite Ramen.. and perhaps put in our own meats if we really want to deny our poor status.

I see the fees have gone down unfortunately so has the BTC price

A little bit of a backlog, but yeah sure, they are eating their way back through some of the transactions that had been stuck in the mempool, and sure it will be good to get back down to single digits per vbyte.. if that might be possible,  even though I have been seeing some blocks in 20-ish sats per vbyte ..

https://mempool.space/mempool-block/0

many of them are still in the 40-ish sats per vbyte.. but yeah, maybe they will come back down if the runes nutjobs might be finding some difficulties in finding buyers for their minting crap or the various other complicated ways of supposedly creating a kind of artificial scarcity that may well not take off as much as some of the early adopters/propagators might be hoping.

[Zeunerts]

Another day of zero inflow to Blackrock and GBTC dumping heavily, this time together with several other ETFs..

[LFC_Bitcoin]

21000th post, Bitcoin on the way to $210,000.

LFG !!!!!

[LoyceV]

About Epoch 0 being the first one, it's a computer programming thing.

In computing, counting starts from 0. 16 bit: 0-16535. CPUs: /proc/cpuinfo > processor : 0. Time: 0:00-23:59. Months and days are an exception, although if you use seconds there are no days, and time starts from Unix Epoch Time 0 (GMT: Thursday 1 January 1970 00:00:00).
I like starting from 0. Even bank accounts follow this logic

[BitcoinBunny]

I'm sorry but she walked straight into that one. 

[Lucius]

Another day of zero inflow to Blackrock and GBTC dumping heavily, this time together with several other ETFs..

I wonder how many of those who invested in BTC through ETFs did so because they were convinced that an instant bull run would follow after the halving? Judging by everything, it seems that the halving was a cold shower for them. Maybe funds should make a survey among investors and ask them what actually happens with the halving - what percentage would answer that the total supply of BTC was reduced by half

[somac.]

Another day of zero inflow to Blackrock and GBTC dumping heavily, this time together with several other ETFs..

I wonder how many of those who invested in BTC through ETFs did so because they were convinced that an instant bull run would follow after the halving? Judging by everything, it seems that the halving was a cold shower for them. Maybe funds should make a survey among investors and ask them what actually happens with the halving - what percentage would answer that the total supply of BTC was reduced by half

I keep hearing that a lot of selling is due to US tax deadline, perhaps that has something to do with it do.

Most likely the ETF buyers are just dumb shits though. If they were smart they'd self custody.

[DaRude]

Another day of zero inflow to Blackrock and GBTC dumping heavily, this time together with several other ETFs..

I wonder how many of those who invested in BTC through ETFs did so because they were convinced that an instant bull run would follow after the halving? Judging by everything, it seems that the halving was a cold shower for them. Maybe funds should make a survey among investors and ask them what actually happens with the halving - what percentage would answer that the total supply of BTC was reduced by half

I keep hearing that a lot of selling is due to US tax deadline, perhaps that has something to do with it do.

Most likely the ETF buyers are just dumb shits though. If they were smart they'd self custody.

Well, total daily supply was kinda reduced by half

Believe they made a mistake and Valkyri BRRR should be +$20,2MM for the 25th, but that still doesn't change much. Think that correlation with overall market as a risk on asset is more likely to be the culprit for yesterday. Interesting that IBIT is at 0 for two days 

[philipma1957]

Getting internal errors from talkimg.

 Hey philipma1957!  Now's your chance to catch up!  Go go go!

 I mean, that sucks.  I thought we had a imgur replacement but...

Still on painkillers 💊 from the surgery so I am not posing like mad.

but fuck you buddy the truth is I miss his posting.

[BitcoinBunny]

How can an ETF inflow / outflow possibly go to complete zero for several days after all that activity over months?

Shady as fuck.

 

[goldkingcoiner]

How can an ETF inflow / outflow possibly go to complete zero for several days after all that activity over months?

Shady as fuck.

Maybe they were forced to stop inflows/outflows?


Or maybe something to do with this:

World's largest custodian bank, BNY Mellon, reports exposure to #Bitcoin ETFs.