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

[Ambatman]

What a rally!!!
We almost having a comeback just a little push.
I'm already having a good feeling over next Week.

Bitcoin mining has been legalized in Russia, I believe this might serve as a precedence for other countries that had banned mining.
 https://bitcoinmagazine.com/business/putin-signs-law-legalizing-cryptocurrency-mining-in-russia

In another news
US policy group proposes Bitcoin tax-free zone for digital economy growth
https://cointelegraph.com/news/bitcoin-tax-free-zone-us-economic-dominance


And my favorite
Small holders of Bitcoin hit a new high despite the previous drop.
https://www.cointribune.com/en/bitcoin-addresses-of-small-holders-hit-new-highs-despite-drop/

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[LFC_Bitcoin]

Good day for Bitcoin so far, currently sitting at $59,500. We’re $10,000 up from the bottom in that pretty shocking dump.

I’d like to think there’s no more FUD and real world events that crash the price coming up. I’m hoping we break $60,000 over the next few days and then it’s like the correction didn’t really happen.

Rate cutting cycle starting in September, hopefully Trump wins in November and then all bets are off, destination Valhalla.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[d_eddie]

You are only travelling between realitys of the same dimension.
Put a layer of DMT into a doob of sweet skunk

Agreed, DMT is nothing like acid.



A different ball game
Three tokes into hyperspace
Changa for the win






#haiku

[Gachapin]

49.5k + 10k = 59.5k

 

I mean a daily candle.. up.     we recently had one daily (almost) 10k down, aka a devils candle  

[Richy_T]

But even the labor participation rate alone cannot be trusted anymore to tell the real story. Because losing a single white collar working making $100k+/year permanently, but replacing them with two full time (or worse, part time) blue collar workers @ $35k/year each is still major economic loss of purchasing power, even if the participation rate number increases. Not to mention the loss of income tax the IRS can collect.

Absolutely. There's an appropriate maxim (that doesn't spring to mind) about what you measure becomes the target. So buying dead rats encourages rat breeding, prioritizing crime statistics can lead to discouraging reporting crime and god only knows what the focus on GDP does. Always worth looking below the surface.

(Edit: Goodhart's law: "When a measure becomes a target, it ceases to be a good measure")

Same here, with one exception: drip coffee absolutely sucks, even with the best fresh ground beans and filtered water.

My weapon of choice is the Philips 4347/94 Espresso Machine. Designed by Italian engineers.

Makes amazing regular coffee.

Worth. Every. Single. Penny. Paid.

Agreed. I have one (one of the 3 series, I believe) I treated myself to a year ago and it's fantastic. Great coffee and less waste and it will have paid for itself over the pods I was buying by 2025. The only negative is the cleaning regimen and it's not really that bad.

[AlcoHoDL]

I never 'use' anything...don't want to mess with my brain.
Maybe I am missing out, but it is what it is, sorry to be a bit squarish  .

[...]

I stand rapt in awe,
Of the wonders of the world,
Where drugs have no place!

#replyku1

Here is some speculation:

Our mini-crash this time was from 70K to 49.6K, roughly, which is 28.6% (some reported it as 27.5%).
In March 2020 the "main" crash was 50% in a day or so.

Therefore, the severity of this crashola so far was 28.6/50=0.572X
Assuming no more crashes, what does it say about the ensuing bull?
In 2020-21, we moved from 3.8K to 68.9K - a 18.13X.

Multiplying 18.13 by a reduced severity factor of 0.572 and assuming that the "bounce" is proportional to the "crash" gives us a 10.37X multiplier (18.13X0.572=10.37) for a maximum bull during this cycle.

If we apply 10.37X to the 49.6K low, it gives us a $514.4K maximum price during this cycle (more than I personally thought possible).
It's $467.66K if using 27.5% decline for the calculation.

TL;DR just dubious speculation as B. Cowen calls it.

Half a mil. next year?
Who could disagree with that?
Will proudhon concur?

#replyku2

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[OutOfMemory]

My weapon of choice is the Philips 4347/94 Espresso Machine. Designed by Italian engineers.

Makes amazing regular coffee.

Worth. Every. Single. Penny. Paid.

I used to use these too, and "designed by italian engineers" means Philips collaborated with Saeco and in turn took over their brewing unit.
The reason i went to DeLonghi, which do the same job in terms of making a good "everyday coffee" was that the Saeco brewing group was a real pain in the ass to clean. You have mold in places you can't really reach in no time, the coffee remains are spilled inside the whole thing, even worse there is a small valve designed to drain excess brewing water, which clogs easily and very often.
DeLonghi did a better job in their design. I can keep the brewing group unserviced for a couple of weeks (unthinkable with Saeco/Philips) and it takes me a single piece of cloth, a bit of hot water from the tap and a minute at most to thoroughly clean an be good to go.
My current DeLonghi machine is five years old, while every Philips/Saeco (2x) i had was beyond repair after three years. Last year i had to replace the brewing flask because of leakage due to the fact that i descale only every 2-3 months (using 50% lactic acid, just like the pros), also because we have very little calcium in our tap water.
The DeLonghi's weakness are the grinders. Either you have a good one that is relatively silent and will run for 10 years without problems, or you have a bad one which will give up within 1-2 years of use (6-8 preparations a day).

I don't want to talk you out of Philips, but keep DeLonghi as a alternative in mind if you can't stand the burden of regularly cleaning the Saeco "design".

You are only travelling between realitys of the same dimension.
Put a layer of DMT into a doob of sweet skunk

Agreed, DMT is nothing like acid.



A different ball game
Three tokes into hyperspace
Changa for the win

#haiku

Well, i will (try to) keep THAT as an alternative in my mind  

I never 'use' anything...don't want to mess with my brain.
Maybe I am missing out, but it is what it is, sorry to be a bit squarish  .

[...]

I stand rapt in awe,
Of the wonders of the world,
Where drugs have no place!

#replyku1

True that. Drugs don't have a place everywhere. Most users forget that most drugs are just substitutes.

------------

OT:
One of my teen kids received his Autism Spectrum Disorder diagnosis today. He took it quite well, despite he had no idea why he had to do 6 hours in four sessions of psychological testing within the last couple of weeks.
The pychologist was exceptionally competent and sensible when she explained all this to him. Quite pricey, but worth every cent.
My son kept to often blame me as "mentally disabled", mostly when he was raging in one of those autistic breakdowns, but today he was showing so much remorse for this, and it not only just seemingly bonded the two of us together more. This and (almost) $60k made this day feel complete.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[xhomerx10]

never drink any coffee in America at any cafe except black americano no cream no sugar.

No one anywhere in USA makes really good coffee.

My coffee water in house is sediment filtered/ then reverse osmosis/ then distilled.

My beans are fresh ground.

I like old school percolator then cloth filter into stainless steel 2 liter (yeah I know what a liter is)

This is a days worth I use this thermos

https://thermos.com/products/stainless-king-beverage-bottle-2-0-l?variant=40161000980636#


I drink coffee from 8am to 4pm


black no sugar.


sometimes a spoon of whip cream.


If I make expresso it must have some booze in it. And cups are always small around 4 maybe 5 oz.

Same here, with one exception: drip coffee absolutely sucks, even with the best fresh ground beans and filtered water.

My weapon of choice is the Philips 4347/94 Espresso Machine. Designed by Italian engineers.

Makes amazing regular coffee.

Worth. Every. Single. Penny. Paid.

 What I've found is that Americans simply make the coffee too weak.  Maybe it has something to so with the cost and the "bottomless" cups they like to serve at diners.  Starbucks makes a pretty good coffee if you get the blonde roast - otherwise, they suck.  That burned bean crap is only good for mixing into their overly-sugared frappes so people can still "taste" the coffee.
 
 My doctor told me a while ago to stop drinking coffee because... muh cholesterol and being the know-it-all I am, I refused to stop drinking coffee because how the hell does a plant-based drink cause an increase in cholesterol?!  Turns out that nice rich foam they call crema contains some nasty little molecules called cafestrol that when ingested, can cause your body to retain and even produce more cholesterol by blocking cholesterol homeostasis.  WTF!?  That's the best part of the coffee experience!   Apparently, filtering through paper removes most of those nasty molecules but I find it also removes some of the depth and richness of flavour. 
 I'm still soft-killing myself with a double espresso first thing in the morning which I usually turn it into an Americano but the nice clean taste of a filtered coffee has become a welcome change.  I've learned to appreciate the subler notes in my coffee.  So after my first death cup in the morning, I have filtered coffee and if I order one out, it's either a pour-over or an AeroPress.  Recently, while on vacation, I had a very pleasant surprise ordering an Ethiopian Guji pour-over.  I tried to buy a bag to take home but they were sold out 

 I would assume filtering it through a cloth would also remove the cafestrol but then I already assumed that coffee couldn't possibly raise my cholesterol levels.  You might have to substitute those shop towels for some paper ones just to be safe philipma1957 

[modrobert]

[eXPHorizon]

I can see it.. i can taste the -48K to 7K Bljatcoin drop.. one of the last prophetic signs of things to come.. if that does not happen something much more catastrophic will happen

[Zeunerts]

I can see it.. i can taste the -48K to 7K Bljatcoin drop.. one of the last prophetic signs of things to come.. if that does not happen something much more catastrophic will happen

Fuck off. We go up.

[vapourminer]

My weapon of choice is the Philips 4347/94 Espresso Machine. Designed by Italian engineers.

Makes amazing regular coffee.

Worth. Every. Single. Penny. Paid.

I used to use these too, and "designed by italian engineers" means Philips collaborated with Saeco and in turn took over their brewing unit.
The reason i went to DeLonghi, which do the same job in terms of making a good "everyday coffee" was that the Saeco brewing group was a real pain in the ass to clean.

I don't want to talk you out of Philips, but keep DeLonghi as a alternative in mind if you can't stand the burden of regularly cleaning the Saeco "design".

gonna have to look into these things. i do french press and pourover, grind my beans and use reverse osmosis -> distilled hot water from a temp controlled tea kettle. old sckool i know but hey thats me.

but im getting lazy. any machine i get would be judged about 50% on ease of cleaning and 50% ease of use to make the drink.

no i have a new quest.

[Hhampuz]

DeLonghi is fantastic, especially if you go for the higher end machines. Versatile and incredibly easy to clean!

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[eXPHorizon]

https://youtu.be/9sTQ0QdkN3Q

[Richy_T]

but im getting lazy. any machine i get would be judged about 50% on ease of cleaning and 50% ease of use to make the drink.

Ease of use = select drink, press start.

The cleaning is not terrible. The waste water tray and puck catcher and a few small parts get washed in the sink. The brew group gets thoroughly rinsed under water and the machine gets a damp wipe down. This is supposed to be every two weeks (I may not be good about that). Every now and then, there's a few spots you're supposed to lube. There's a decalc process too but I use RO water so have skipped that so far. There's also the milk frother but that gets cleaned often anyway because milk.

Where it shines for me is cappuccinos and lattes at the press of a button.