Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 7074. (Read 26709845 times)

I don’t think that this is relevant to Bitcoin’s market prospects.

The notion that Bitcoin is given its value by mining cost, or “backed by electricity”, etc. is a pernicious myth that needs to die.  It is the organic rise of Bitcoin’s value (based on supply and demand) that drives mining cost (and thus, Byzantine security) by increasing hashrate competition.  Not vice versa.

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lolz, confirmed maths?  ;-)

Take those statistics out to eight decimal places if you want real science.

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(Moved, to keep replies in order.)

Still $9,825 has been the lowest of the various BTC price dips below $10k in the past 6 days, and we have not quite gotten down to $9,800.  We have only been visiting these 4 digits in the past 6 days - which broke our streak above $10k that started on 7/26 and ended on 9/3. Of course, some folks are suggesting that the 5 digit streak is not broken until the daily candle closes below $10k...  Seems like a bit of an overblown technicality to me, but hey there are frequently ways to spin, even spinning the spin.

The latest dip below $10k was the most persistent and seemed to have been an attempt to get the daily candle to close below $10k, which was not successful. 

So, yeah there have been about 5 attempts that achieved getting below $10k, but so far have not been successful in staying below $10k for any kind of meaningful time - but that still does not mean that we are NOT going to go below $10k for a longer period of time.

I will be surprised if we are still ranging between $9k and $11k in the next couple of weeks and more so in a month, and even more surprised if that ranging were to play out for two months, given our current macro circumstances.  Up does seem slightly more likely than down.. maybe looking at 56.7/43.3 odds - but what do I know?  There surely are a lot of motivations for shaking a few trees of weak hands, and surely there are some folks who could be shooken.. especially if they are connected more broadly to some of the frothiness in the space... On the other hand, there are likely some shorts building, too, and could provide some incentive for them to get reckt, but will they?

Yep and the real key is gpu/shit coin mining.

here is some cost analysis for a miner.

15 x 270.00 =   4050 this gets you 15x amd 5600 msi gpus.
3 x 175.00   =     525 this gets you 3 motherboards land and ready for the cards.
3 x  33.33    =     100 this gets you 3 psu's used s9 psu's are good the apw3+

total cost =   4675 usd. you burn 2100 watts it earns 24.00 usd not counting the power cost of 2100 watts


4800 gets you 2 s19 pros you burn 6000 watts.  it earns 17.38  not counting the power cost of 6000 watts

huge disparity in favor of gpu mining.

last time this happened was 2016 and 2017.  so are we in a good loop. these numbers led a huge rally in btc.

+1 WOsMerit



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morning charts


1h 50ma/200ma crosses


#dyor
D

#stronghands

we thank you for you thoughtfulness in sparing us from using our brain to think for ourselves.

in the future perhaps you could just post the single word "confirmed" or "science" instead of bigly images and all that stuff we wont understand anyway. we can infer the rest.

proudhon’s purpose is to make SwayStar look like a genius.

It’s a conspiracy!  Confirmed with many scientific math data points.  It’s too sophisticated to post all of the analysis, so I just post a helpful summary.


confirmed

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I didn’t misread:  I took a generally applicable aphorism that you stated with an elegant flourish, and applied it in a different, related context.

Yes, the context is related in the abstract.

No, I used many scientific math data points. It's too sophisticated to post all of the analysis, so I just post a helpful summary using the best summary of proven science and math confirmed by analysis.

@Torque
I agree with you almost on everything but...there's a but. The Winklevoss' know for sure the WS world, no doubt. I believe they are wannabe new WSers though. They want to simply replace the old financial powerful guys with their pretty faces.
Am I wrong to see it this way? I see them very much tied to the old world that I can't read those words genuinely.  

I share your disgust at the hopeless clown, but seeing your frequent mentions of him here I understand some peeps complaining about people in their ignore list getting quoted by other peeps they follow.

The horror.

OT: Witness how Wall Street has their shit together, knows what they are talking about, and that you should listen to them.  





Not more than one day apart. Confused yet?   

 Thanks but I wish I could unsee that now.

Sorry. Didn't think about that. I had to make it a link because bitcointalk doesn't have the science to display this size yet.

https://i.imgur.com/3I8CyKs.jpg

Nice to see other people use the words: Schelling point... When I would usually see it together with other words like "Rube Goldberg Machine" and other such nonsense.

^Could I ask that you make the image slightly larger please?  Those of us with macular degeneration can't quite make out the data.

Bad news update for today:

Everything I wrote before was just confirmed, by a guy that would know the Cabal (aka Wall Street) pretty well. The Bitcoin market might just be one of the last truly free markets on the planet.

https://twitter.com/tylerwinklevoss/status/1303421878888009728

SMA-24-hours

stays over 10000

This year resembles 2016 in so many ways - the halving, the recovery after 85% crash, and last but not least - various shitcoin pumps. It is very hard in general for a n00b to avoid the traps of the fast profit seeking with these pumps. They have both positive and negative effect on the Bitcoin price. Positive - because part of the trading is with Bitcoin pairs and so more Bitcoins are locked in these markets. Also, after 99% of the "traders" register losses, they come to their senses and understand that the only real profit is longterm by investing and hodling Bitcoin. Negative - the remaining 1% (usually the creators of the scam exits) harvest tens and hundreds of millions profit. The profit which is in bitcoins they have little hesitation to sell and dump the price. This is probably what happened in the last days with sushi exit scam and other defi shitcoins listed on binance as well. Perhaps the bears thought they can take advantage of this situation and put a pressure on 10K, but all this is in vain. They just can't hold the price any longer to fill their bags with cheap coins. This is not only the end of their sub 10K throw the kitchen sink efforts - this is the continuation of a massive bull run which, with several short pullbacks, should take us above 100K in few years. But hey, may be the bears will succeed in bringing the price below $100K for several months. And proudcon and other funny trolls will come and inform us that Bitcoin is dead and it is coming down to $60K. Same old, same old.