Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
JayJuanGee
on 29/06/2022, 02:11:40 UTC
⭐ Merited by OutOfMemory (1)
Almost every little 'bobblehead' on youtube/twitter/tradingview keeps blabbering about 10K-14K bottom.
To me it says that it won't be THAT.
My preference (and it looks like the WO on average) is that the bottom was "already", but the whole cycle is messed up so much that it is difficult to be certain.

One thing is for sure: I believe in btc as a medium of exchange much more than the 'store of value' story at this point. It could change, though.

I did not really feel comfortable with presuming that the bottom is in either, but our current bottom of $17,593 on June 18 is still a pretty damned low low, and about 21% below the 200-week moving average at that time.  The 200-week moving average continues to move up $20-ish per day, so yeah still bouncing below the 200-week moving average but recovered (for now) from the low)...

The current BTC price placement is showing some level of calamity for our current predicament, but we cannot really tell if the whole severity of the predicament is already priced in or not... so many naked swimmers have already been exposed.. but I am still thinking that there might be some more naked swimmers that need to be exposed, and it's not the cute ones either....

I surely would prefer for the bottom to be in.. at least reck a few shorts before going down further - but if it is really difficult to know which is the easier path forward and whether enough reckless folks have received their proper and sufficient reckening.  There are a lot of overly leveraged folks out there, and we should be able to imagine some potential easy pickings so long as the BTC price can be kept down for a wee bit longer.. I hate to say it.. I hate to say it...

Regarding your comment about storage of value.. that is nearly pure nonsense and I heard that there were some peeps that just want to jump through their computers to batslappening you for that comment.  In other words, zoom out ur lil selfie a wee bit.

Almost every little 'shithead' on youtube/twitter/tradingview keeps blabbering about 10K-14K bottom.
To me it says that it won't be THAT.
My preference (and it looks like the WO on average) is that the bottom was "already", but the whole cycle is messed up so much that it is difficult to be certain.

One thing is for sure: I believe in btc as a medium of exchange much more than the 'store of value' story at this point. It could change, though.

The fact that there will only ever be 21 million makes this pretty much a forgone conclusion that over time BTC is and will be a store of value

That's what I be talken about... even though you said it first.    Wink Wink

[Edited out]

Roughly steps into the dedicated astro camera area would cost me between $2k and $10k, depending on quality. Not the amount i'm used to throw at my hobbies too often.

Chump-change.

A mere 0.1BTC to 0.5BTC... are we talking ant quantities of monies, here?

 Cheesy Cheesy Cheesy

Almost every little 'shithead' on youtube/twitter/tradingview keeps blabbering about 10K-14K bottom.
To me it says that it won't be THAT.
My preference (and it looks like the WO on average) is that the bottom was "already", but the whole cycle is messed up so much that it is difficult to be certain.

One thing is for sure: I believe in btc as a medium of exchange much more than the 'store of value' story at this point. It could change, though.

The fact that there will only ever be 21 million makes this pretty much a forgone conclusion that over time BTC is and will be a store of value

it could be, eventually, but it does not feel this way if you consider the period since late 2017.


Get rid of your feelings.  Such feelings are not correct.  You will thank me later (or at least you should)

No value stored vs inflation whatsoever, objectively. A negative 20% (vs inflation) vs gold's +25% vs inflation, and I dislike gold.
imho, the involvement of financial institutions 'messed' bitcoin up, albeit maybe only temporarily.

Yes.. it is ONLY temporary.

Snap out of it.


If financial types could pledge bitcoin en masse (and they did), then the 'store of value' and "clean collateral" stories could be affected.

Yes.. you can spin it.. if you are failing refusing to see what is actually happening.. which is the largest wealth transfer in history.. and at the same time passing through a few speed bumbenings along the way.

TL;DR a new 'story' for bitcoin is needed (or it could be the "old" story of the medium of exchange). The 'store of value' story is in deep hibernation for now.

No new story is needed.

If you want to believe some baloney spin or some dumbass view of the facts, then you are free to fail/refuse to sufficiently/adequately prepare for UPpity.  

Gresham's law is still going to continue to cause monetized values to flow into bitcoin, and you can choose not to participate or to underparticipate at your own peril.  Yeah, of course, there are no guarantees, but it seems to be one of the strongest and most widely available asymmetric bets that ever existed staring at uie pooie in front of your face, and it is up to you whether to act upon such information in terms of being early to the club or just to deny what you are seeing (or fail to see it).

Aside:  What retard ignored the message on the “report to moderator” page, and reported a fair shot I took at Biodom’s nonsense?  My post broke no forum rules, generally—let alone WO special rules.  The image source was linked on Wikimedia, as seen in the archive.  Not asking if a few of the staff here have exceedingly poor judgment.  Asking which retard thinks it’s funny to report WO posts that don’t break any rules.

I agree.. that post seemed to have had been a fair pokening for fun... and even arguably artsie fartsie in some kind of way.