But I have had plenty of beef steak 🥩.
I really want to have some bear 🐻 steak 🥩.
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 293. (Read 26497808 times)
August 20, 2024, 11:03:04 AM
August 20, 2024, 11:01:15 AM
August 20, 2024, 10:49:13 AM
@quintenfrancois
Germany selling done✅
GBTC sold nothing yesterday✅
Global Liquidity is about to explode again
FTX creditors soon recieving $16 billion in cash from which a lot will flow into $BTC
#Bitcoin supply on exchanges are historically low
Institutions are stacking more than the 450 $BTC mined per day
Boring summer months are almost over
The bullrun is about to start 💥
https://x.com/quintenfrancois/status/1825807790109036671
Do something, Bitcoin……
Germany selling done✅
GBTC sold nothing yesterday✅
Global Liquidity is about to explode again
FTX creditors soon recieving $16 billion in cash from which a lot will flow into $BTC
#Bitcoin supply on exchanges are historically low
Institutions are stacking more than the 450 $BTC mined per day
Boring summer months are almost over
The bullrun is about to start 💥
https://x.com/quintenfrancois/status/1825807790109036671
Do something, Bitcoin……
But first lets pass the slaughterhouse....
August 20, 2024, 10:35:02 AM
Vimeo: Video is not rated. Log in to watch.
The hell I'll sign up for this.
Is it this one?
https://getyarn.io/yarn-clip/7ae104eb-9954-489b-8e51-fd07d2274a46
Strange, I never had an account and never needed to login to see flics.
But yeah, this one
August 20, 2024, 10:32:03 AM
Back again below 60K....
Boring BTC charts until Q4 ?
Boring BTC charts until Q4 ?
August 20, 2024, 10:25:45 AM
[...]
and if all mining of btc stops btc becomes frozen in the address it is in. unable to move digital across nations.
[...]
and if all mining of btc stops btc becomes frozen in the address it is in. unable to move digital across nations.
[...]
Theoretically possible, but highly unlikely. It's not a global on/off switch. If miners start shutting down, the difficulty will drop, giving more incentive for smaller miners to start mining, thus resuming the 1 block / 10 min target. It's a self-regulating closed loop. Can't speed it up, can't slow it down. It's been beating steadily for 15 years now.
well much like gold or silver or oil companies will not full stop.
the difference is btc in a wallet fully needs active mining to stay "alive"
the oz of gold in the bar in my house does not need active mining to stay a gold bar.
So when supply + demand people say it's all in demand for price. it is not the same fundamentals as the demand for gold.
btc supply new and old needs active mining
gold supply new needs active mining old does not.
I think this is basically ignored in loyce and jjg's models for btc price.
mining of btc can 2x affect supply which surely will affect demand directly much more than gold.
yeah to think mining losing profit and dropping from 660eh to 330eh won't be a direct affect on price is quite naive.
last time mining dropped 50% due to china price dropped 50%. and mining lead the drop in price.
oh and a nice bart as price drops to 59k
August 20, 2024, 10:21:11 AM
I figure 200k or bust in the next 8-9 months
If it hits $200K in the next 9 months it’ll be me that busts. Even I am getting more pessimistic about the upside potential for dee cornz for this cycle..
I guess our spending so much time in this no man's land and/or in don't wake me up zone (which seems a bit out of character for dee cornz), has contributed to some jadedness in my own thinking, even though being stuck in this particular price zone should not even be that negative of a sign or happening.. bouncing around at mostly the top of the range.. .... but still.. sometimes these kinds of periods can have a kind of wearing effect, even if some of us might still remain relatively optimistic.. it is not like I am selling an cornz.. ,,, and tending to buy more than I sell in the whole scheme of things.. . but still..
My outlook was that the wait was a warm up before a shoot.
Fortunately this ain't the only cycle, there are more to come and we just hope for good health and long Life to enjoy them.
I'm still optimistic never the less
The frequency of my DCA has increased now because I don't want to be asked by my kids in the future "Daddy where were you when others were buying Bitcoin "
Don't wanna increase my numbers of regrets.
Right there with you ambatman. I'd set some lofty but achievable goals back in 2021 about where I wanted my stack size to be by mid point 2025. I'm at that accumulation point now, where I have exceeded these goals a year early. I definitely feel a little bit like I will have over accumulated by mid 2025, but I'm continuing along with my plan. I'm in it for long haul, and so far so good.
Whenever choppiness comes up in the price, I always go back to the 200 WMA and go are we uppity,downity or matchity to it so there is some comfort here at the moment with 34k 200 wma vs 56-62k short -term range we are in now. The MM's really dont like it to go above 60k for some reason, hopefully the degens get rekt soon.
Recently and I dont think saw this anywhere, a poster(tighttighttightyea) on reddit did an analysis of perceived avg cost price for etf buyers, and its sitting around avg 56.5k. Here is the link.
https://docs.google.com/spreadsheets/d/1JZgh5gi9gM3sr1mjoT6Fv9oeESra81TrNtVW__uX8H4/edit?usp=sharing
The etf buyers can't really use 200 wma for comfort so what are they using?
August 20, 2024, 10:10:01 AM
I figure 200k or bust in the next 8-9 months
Bust?
<
August 20, 2024, 10:09:41 AM
[...]
and if all mining of btc stops btc becomes frozen in the address it is in. unable to move digital across nations.
[...]
and if all mining of btc stops btc becomes frozen in the address it is in. unable to move digital across nations.
[...]
Theoretically possible, but highly unlikely. It's not a global on/off switch. If miners start shutting down, the difficulty will drop, giving more incentive for smaller miners to start mining, thus resuming the 1 block / 10 min target. It's a self-regulating closed loop. Can't speed it up, can't slow it down. It's been beating steadily for 15 years now.
August 20, 2024, 10:03:50 AM
August 20, 2024, 10:01:18 AM
August 20, 2024, 09:54:34 AM
To further argue the point. If all mining of gold stops. Gold will become more valuable as it will become rare.
and if all mining of btc stops btc becomes frozen in the address it is in. unable to move digital across nations.
So yeah mining does affect and control btc much more than it does gold or silver or precious material.
Not so much oil which needs continued mining to exsist.
In a way oil is a better model than gold for btc but the reality is neither oil or gold model the way btc does when it comes to the mining of it.
its why traditional supply and demand is not exactly correct to say that is controls btc price.
btc mining can directly influence supply across the board.. in and it can directly influence demand.
gold mining can only partially influence supply.
and if all mining of btc stops btc becomes frozen in the address it is in. unable to move digital across nations.
So yeah mining does affect and control btc much more than it does gold or silver or precious material.
Not so much oil which needs continued mining to exsist.
In a way oil is a better model than gold for btc but the reality is neither oil or gold model the way btc does when it comes to the mining of it.
its why traditional supply and demand is not exactly correct to say that is controls btc price.
btc mining can directly influence supply across the board.. in and it can directly influence demand.
gold mining can only partially influence supply.
August 20, 2024, 09:48:26 AM
The sea is cool if not going too deep Never been to the mountains, but it seems more scary for me.
Never been to the mountains, but it seems more scary for me.I have been to both. They both can kill quite easy peasy. I prefer the sea.
Nothing is cooler then laying on you back on a dark moonless night and staring at the sky so many freaking stars.
You then get up and walk to the rail and the freaking stars are right down to the horizon.
Those were really great things to have seen. Not so much a ton of stars but that they go right to the horizon all around the ship.
Also watching dolphins glow in the water and play chase at the bow of the ship for hours at a time.
All of the above are some upsides of the US Navy.
My ship which I lived on from 1978 to 1981
https://en.wikipedia.org/wiki/USS_Dixie_(AD-14)
Your link isn't linking correctly, fixed it for you.
Congrats, Phil. I can fully relate.
August 20, 2024, 09:38:47 AM
Lagging around daily EMA 200 again 
What is that supposed to mean?
Personally, I am kind of looking forward to getting the BTC price back into the top 100 weight-traded average days (including the table that some of us are continuing to monitor), but we still have another $5k or so to get back to a weight traded average of $64.5k-ish.
Frequently we cannot really work ourselves up in regards to how long it might take to get back into the top 100 weight-traded, and I am not really too overly concerned that it is going to take a long time, yet at the same time, it does not hurt to be prepared for a variety of scenarios that includes taking longer than expected (or preferred). We are still pushing the 200-WMA around $34-ish per day.
it's important to remember that the average electricity cost of Bitcoin is around 60k. the likelihood of Bitcoin staying below these price levels for the long term is not very high
Fair enough point about some potential for the incentives to want to push BTC prices above the cost of production, even though hashrate does not really dictate BTC prices (which seems to be a point that our buddy Phillipma1957 and a few others like to unconvincingly make from time to time), and also even though I was not able to find that chart: https://capriole.com/charts/.. which I should not have to try to verify from where ever it might have had originated. .
as long as it's the right direction I don't mind buddy doing a streak
That is also a fair point.. None of us should be too overly concerned about buddy streaking, so long as s/he/it is streaking UPpity rather than some other less exciting direction. .not that I am acknowledging buddy to be "sexy" in any kind of a commital way.
it's important to remember that the average electricity cost of Bitcoin is around 60k. the likelihood of Bitcoin staying below these price levels for the long term is not very high
Miners don't decide the price, the market does. If it's not worth mining, some will quit, the difficulty will drop, and the electricity cost per mined Bitcoin goes down.Hey good point Loyce.
I was kind of thinking some kind of a thingie-ma-jiggie like that my lil selfie, but I was a wee bit fraidy kitty cat to speak up, you know shy in a kind of broken record kind of a way.. it happens sometimes, even to
big snip
Mining btc is not like mining gold.
The btc that is mined needs mining to exsist.
mined gold does not need mining to continue its existence.
Btc is totally dependent on continuing mining. gold is not.
to think mining has no effect on price and only demand moves price is to dent the fundamentals of btc as compare to gold or silver or any precious metal.
August 20, 2024, 09:03:48 AM
About having rich problems, a billionaire just died (along with others including his 18yo daughter) in the freak sinking of a superyacht.
Last year there was also the one (also with his 18yo kid) who died in a dodgy submarine...
I've done plenty of sailing and never came close to dying, oh well.
The sea is still a no go for me. Last year there was also the one (also with his 18yo kid) who died in a dodgy submarine...
I've done plenty of sailing and never came close to dying, oh well.
It makes me feel small in the grand scheme of things
Mountains do same, atleast it's fun to hike in group as long as none of you are too daring.
The sea is cool if not going too deep
Never been to the mountains, but it seems more scary for me.I have been to both. They both can kill quite easy peasy. I prefer the sea.
Nothing is cooler then laying on you back on a dark moonless night and staring at the sky so many freaking stars.
You then get up and walk to the rail and the freaking stars are right down to the horizon.
Those were really great things to have seen. Not so much a ton of stars but that they go right to the horizon all around the ship.
Also watching dolphins glow in the water and play chase at the bow of the ship for hours at a time.
All of the above are some upsides of the US Navy.
My ship which I lived on from 1978 to 1981
https://en.wikipedia.org/wiki/USS_Dixie_(AD-14)
https://en.wikipedia.org/wiki/USS_Dixie_(AD-14)
August 20, 2024, 09:01:15 AM
August 20, 2024, 08:30:54 AM
@quintenfrancois
Germany selling done✅
GBTC sold nothing yesterday✅
Global Liquidity is about to explode again
FTX creditors soon recieving $16 billion in cash from which a lot will flow into $BTC
#Bitcoin supply on exchanges are historically low
Institutions are stacking more than the 450 $BTC mined per day
Boring summer months are almost over
The bullrun is about to start 💥
https://x.com/quintenfrancois/status/1825807790109036671
Do something, Bitcoin……
Germany selling done✅
GBTC sold nothing yesterday✅
Global Liquidity is about to explode again
FTX creditors soon recieving $16 billion in cash from which a lot will flow into $BTC
#Bitcoin supply on exchanges are historically low
Institutions are stacking more than the 450 $BTC mined per day
Boring summer months are almost over
The bullrun is about to start 💥
https://x.com/quintenfrancois/status/1825807790109036671
Do something, Bitcoin……
August 20, 2024, 08:01:15 AM
August 20, 2024, 07:01:17 AM
August 20, 2024, 06:27:12 AM
Vimeo: Video is not rated. Log in to watch.
The hell I'll sign up for this.
Is it this one?
https://getyarn.io/yarn-clip/7ae104eb-9954-489b-8e51-fd07d2274a46
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