Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 8127. (Read 26712945 times)

Because it is not money but a currency.

People are buying pallet loads to resell on EBay at a profit.  This stops the product from reaching people who need it (or they have to pay 10x the price). 

Profiteering is a criminal offense during wartime.  This is the same thing. 

Im a good bit of pages behind so sorry if someone already posted this.


Here is some serious Bitcoin Bull Porn right here.  

The (Central) Bank of England released a paper Thursday on Central Bank Digital Currencies, CBDC's.

https://www.bankofengland.co.uk/paper/2020/central-bank-digital-currency-opportunities-challenges-and-design-discussion-paper

Its long and mostly boring but a new idea is buried in it.

"There may also be benefits from remuneration for unconventional monetary policy. If interest rates are, and
continue to be, low then central banks are likely to be constrained by the lower bound more frequently than
historically was the case. A CBDC that could be remunerated at a negative rate   could be used to relax that
constraint, to the extent that the constraint was caused by the fact that cash pays zero interest (Bordo and
Levin (2019)). "

They just realized they can solve their problem of negative rates. You see they would like to have negative rates as the ultimate way to ruin savers and force them to spend their money on stuff they dont need and stay living paycheck to paycheck forever. Bankers know if they have negative rates for personal bank accounts then people will just withdraw their money and stash it. Cash pays zero interest and defeats negative interest rates.

Their solution is to give everyone Digital Banker Bucks and when they wanna have a negative interest rate, they just make your Digital Bucks disappear over time in your digital wallet if you dont run out and buy stuff with it.

To confuse people about the theft, the devious obscurantists call it "Negative Remuneration."  

Add that to the purposely confusing jargon vocabulary like Repos, Quantitative Easing, OMO, and POMO.

No wonder they freaked out about Libra, it was hard money compared to this.

Not negative IMHO, but pragmatic....I'm just saying as of the timing now the bottleneck eases in China it likely will happen at our end. But that is the timing of 'black swan' events

I gather a particular and unlikely combination of factors in the most unexpected and usually dire of directions.

As to moral boosting, assuming that BTC/Crypto MAY act as more of a speculative asset than store of value kinda thing, at least for a bit. If the Fed is dumping as they say on this Monday,

additional stimulus, as within the last week, a total combined of $2.5 Trillion dollars to stimulate the economy.

Well other countries, with how can I say this, with less of a stellar lookout for their own citizens may stop or

halt bank withdrawals and such as happened in Cyprus back in (2013?) I think.

Authoritarian leaning or more than leaning countries will start to print money on a scale likely even worse than the USA with the

corresponding inflation, loan and credit card interest rates may explode. Which is such developing countries could/would be catastrophic!

If this acts on a damper on how they use their money, the inflation rate of the particular countries' money explodes, limits on bank withdrawals, etc, etc.

If such DOES happen, then Plan B that is BTC/Crypto MAY again acts as a store of value. What we have seen so far is just temporary.

 Indeed, you could say, from an 'emergency' point of view BTC/Crypto has acted 'exactly' as it should in this pandemic crisis.

You need fast 24hr cash in a falling market that you can move across borders instantly to

fill up your emergency fund for 'real-life issues'. Like most of us, even in countries better off, not enough of a personal emergency fund coming out of the blue, black swan event that it is.

Now that this has passed and people start to look at the results of what they may have had to do as individuals to get through this, be it gov't or individuals and

look at the debt and other things (unfortunately, likely needed to do fast for a stable society and economy..even if you were only tossing $$$ at the problems)

you may have to do in this pandemic. I mean it is a frigging Black Swan Event, almost everyone believes that is the case.  So now you stop and think about what are the costs?

Is BTC/Crypto an alternative? Is this method now indeed both a speculative asset for quick emergencies as we have seen as well as an eventual alternative store of value to boot?

In a couple of months, BTC/Crypto may indeed look very good in the aftermath of all this pandemic and its 'black swan' flavoring.

But IMHO, this will be BTC/Crypto's moment of truth on if it is indeed a speculative asset only and like others and may come back due with modest adoption

but really is like other speculative assets take years to do so...so BTC/Crypto proven in this trial by fire, NOT to be a store of value. Just another speculative asset.

Or it does have some aspects as a store of value in a world that seems likely to have a lot of debt/credit to pull itself back into some kinda normalcy, especially, in developing countries?

So, kinda sad I have to go the route, a major frigging disaster of epic proportions, to frigging tell,  if BTC/Crypto to thrive, and act like both an emergency quick action 24/7 ATM for major

emergencies as we have seen. But also FINALLY prove to be a legit major store of value, when things settle down and the reality of economic costs come into play.

IMHO, BTC/Crypto was always the backstop against a black swan event like we are seeing now. This 'supposedly' is why I got into this and (mostly) in full HODL mode.

But again will BTC/Crypto rise to the occasion? Looks like this year of 2020 is when we are going to discover this.

Anyway, why I HODL, even though I like to play and game 'what if' senarios probably too much.

But man, I never saw this one coming in the manner that it has, that is for sure! Thus the universal view of this pandemic and unexpected results of every-one of this as

a black swan event.

anyway, for what it is worth

Brad

Daym, serial?
https://twitter.com/francispouliot_/status/1239051043943653377

About 16,200 people died this year already of snake bites. There will be about 80k deaths from snake bites by the years end.

In the same time less than 6k mostly very old and sick people died of Coronavirus.

A huge chunk, probably even a majority, of these people had about a year or two life expectancy based on age and major health issues.

The snake bites skewed to a much younger healthier crowd with many years left to live.

Snakes dont seek out 84 year old cancer patients and take them out.

There are people that want us to live hunter gatherer lives to stop global warming, even though billions would die if we gave up industrialization. These same people think its awesome that a few misguided countries leaders are shutting down their society for spurious reasons.

To these nutty worry warts this is the archaic revival they have dreamed of. This is cancel culture gone wrong.

As Bitcoiners we have a chance to shine in this environment as we stay strong with our hearts, minds, and most importantly our hands, while other asset holders quiver and worry till their hair falls out.

If you find yourself full of worry and doubt, just shake your fist to the sky and say, Fuck you nocoiner tricksters, I wont panic from your hype and hysteria. Im a hodler dammit! Once you do this you will feel awesome and we will pump to the moon.

This is our moment and fortunately we have a secret weapon called the Halvening to help us along the way.  

Watch out for snakes.  

Nap time...

Coronavirus destroyed both the humans and the bitcoins.    Is the hope of Bull run is dead ?

Stores in the U.S. are normal or packed with hoarders rn, but either way, think Amazon delivery buddy. 

Searing, I know you sort of revel in worry and anxiety in general but you still hodl on regardless which is admirable. However in times like this perhaps a little positive outlook would be good for the morale of the newbs if you can muster that up.  Just a thought.

Thanks for those suggestions and ideas.
The time of 6 to 8 months was just a guess really. I won't take 2k out until btc is at 20k. I will get use this 2k for a couple of alt projects that I was told are promising. I wish to buy my own apartment or home, renting is ok for my age but I would prefer to get a cheap house or apartment to work on.
Several times when bitcoin crashes hard it then reverses and reaches new ATH. I appreciate that the virus is a bit of a black swan.
I follow some of the things my older brother mentioned. He is quite a success ( for our family)and does spend some effort in helping me with useful advice. He told me he was trading some of his bitcoins and the news cadge that silk road was busted. He incorrectly panicked and sold the majority of his holdings. I think it was for around 60 dollars each or something that seems unthinkable now.

He said that he kept waiting to get back in near his exit price, but the price went crazy.  Soon it was over 1000 USD. He said he was angry for panicking, and was angry at himself for willing and hoping for bitcoin to crash again each time the media talked about it going higher in value . He never got back in for 60.  Even now his mood can darken if the subject comes up. Since then told me never sell.  He has accumulated quite a few again by weaving in and out with no more than 10% at a time. He also does not spend on latest phone, car , and these things like before. Every spare dollar is invested in bitcoin, bullion or home improvement. I intended to do as you mention put all spare money each month and put some in bitcoin and other opportunities.
I am rather greedy with getting maximum gains
( now I Have something I really want like to own a house of my own) and impulsive which can lead me to gamble. I was even upset to have entered at just under 5k rather than 3.8k although I know it is still a superb entry that at one point I would have been very grateful for.
I will soon forget this when bitcoin is 20k.

Thanks Icygreen as well for the welcome. Now that I know I will be targeted with crossbow projectiles,  I will keep the retired police vest that should repel or prevent the penetrstion required to destroy vital organs.  

Just in time to arrive in the USA and such and no one will be in the stores to buy these.

Timing it seems worldwide on many things from BTC/Crypto to whatever is in a conspiracy to befuddle us all it seems.

round and round and round in the same place for a bit, it seems.... looks around in same place if not backslid...sheesh

befuddlement will bring the world together

Breakfast buffet at the hotel i'm staying at has been shut down due to Covid-19 fears.  What the hell am I gonna do without my morning toast and coffee?!  Okay guys, it's time to PANIC!

https://www.aljazeera.com/ajimpact/ships-finally-moving-chinese-ports-rates-soar-200313085112600.html

China getting back to normal. 

What is money when you can call it a strange word 'repo' or 'term operation', then produce 500bil of it (actually, 4X500bil=2 tril) ON DEMAND.
It makes for a silly impression when I look online at my paystub.
The meaning of 'money" is somehow lost.
I guess this is why I am in bitcoin.

I'm gonna stick this one out in S.Vietnam. I refuse to panic travel and it looks like the rest of the world have lost their sensibilities anyway. Here, tourists are not panicked, won't even get on board with face masks and they still squeeze in at the food court every day. Godammit we've got a holliday to enjoy! The small city nearby reported a single case a few days ago. I went through the area yesterday to have a look and do some shopping and they've bleached about a 4 block radius of the streets. Smells like laundry and a chlorine pool. Some smaller and non-essential shops have closed, markets still working and many locals are pleased with the excuse of another holiday noted by karaoke gaining popularity  

I really do not understand the TP wars, actually, I don't understand how its still used as the preferred method. 19 years since I learned how to wash myself and it was a defining revelation at the time. An empty waterbottle is key when traveling.
If you must, here's a quick video that will  help get you through a TP shortage crisis.    https://www.youtube.com/watch?v=dngwSuiu3D8&feature=youtu.be

Corn might give us another buying opportunity, stay vigilant, don't feed the panic!

 
  

via Imgflip Meme Generator

A little money printing scheduled for Monday to help the King.   

 Trump tested negative. Bullish. 

I will believe that when all western countries (including US) are already on lockdown. Then it will probably be up from there.

I do fear the reaction of american people when they get ordered to lockdown and many american business being temporarily shut down.

https://trends.google.com/trends/explore?date=now%207-d&q=coronavirus

Worldwide google trends for Coronavirus appear to have peaked during Thursdays biggest stock market crash in over 30 years.

China search trends peaked many weeks ago and they have been busy getting back to normal while the rest of the world panics about something thats killed less than a tenth of the number of yearly snake bite deaths.


This suggests to me we have reached peak fear and the path forward is up.

It's likely just excess stock. It's not like you can magically convert it into food. And even if it wouldn't last very long.