Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Are you trolling, you retard? Now all of a sudden you are an "online currencies" expert?
You initially claimed that bitcoin's scarcity did not give it value and I 'splained the concept of scarcity a wee bit MOAR better to uie pooie.
An example of something that is scarce but not valuable would be each time that you assemble a set of rocks, you arrange them in a unique way... it is a one of a kind that a no named troll like yourself had assembled. .. So, in that regard, it is surely scarce but it is not necessarily valuable.
An example of something that is valuable but not scarce would be breathable air.
There are other examples of scarcity and not valuable and other examples of valuable and not scarce, but there is likely little to no need for me to provide further examples, especially when you are ongoingly showing that you are not even trying to reasonably and meaningfully engage in the topic... unless you are going to provide some better ideas about what it is that you are talking about.. that might have been trying to address some kind of genuine question related the this thread... whether you consider bitcoin to be valuable or not.. do you have any point, exactly?
The only one on excess of words and low on brain power seem to be you uliepooie
I really wanted to know your view on scarcity and value but that seem to be non existent as you tried to explain with rocks piled up on top of each other...
And where have you been living in the past few years ? Under a rock ? In heavy self confinement ? Of course i learned a lot about Online Currencies unlike ... some ...
I just wanted to know your standpoint and your "Wisdom" that does not exist. So i can use your words sometime in the future against you or for you.. depends on the situation but that is hard compared to what you provided
Your proclamation that you have knowledge about "online currencies" is not very convincing, and of course, the main "online currency" of interest in this thread is king daddy, so hopefully, if you do happen to know something about something, then if you are able to put it within the framework of understanding bitcoin then that would be a great start... and another great start would be if you have actually accumulated some in the past couple of years since your forum registration (even though you have already conceded that you failed/refused to buy BTC back to 2014-ish when you supposedly lost your MTGOX bitcoins, to the extent that we can eve believe you about having involvement in BTC going back that far).
I think sometimes we might get too accustomed to the fact that so many people around us don't understand Bitcoin yet, and that we are still early.
That might leave us with a feeling that causes us to miscalculate the size of impact, when people finally catch on ...or to miscalculate how quickly it can happen, once worldwide FOMO begins. But things can escalate very quickly.
I cannot really disagree with anything you say here, and even some of the real world Gresham's law motivations might not really be apparent to some of us, even though there could be some bitcoin contagion that builds upon Gresham law motivations principles and some of the folks who are influenced by those kinds of sound money factors might not really realize why it is that they are getting some resonance in regards to bitcoin being better money than any other kinds of money out there... which as you say builds upon itself in a kind of snowballing gravitational way, even if the users might not really exactly know why they are being motivated in that direction.That might leave us with a feeling that causes us to miscalculate the size of impact, when people finally catch on ...or to miscalculate how quickly it can happen, once worldwide FOMO begins. But things can escalate very quickly.
There seems to be a kind of contagion in the space.
This is very interesting comparison of bitcoin price verses addresses holding more then 10k$ worth of bitcoin.
You can see when price of bitcoin touched 69k$ on 11 Nov 2021, the addresses have gone done. That means Whales were in selling mood at that time. Now as price has gone down, whales are once again accumulating bitcoins.
Key Takeaway: whales are called whales because of this reason.
My few satoshis that I extracted from this graph.
Image source
You can see when price of bitcoin touched 69k$ on 11 Nov 2021, the addresses have gone done. That means Whales were in selling mood at that time. Now as price has gone down, whales are once again accumulating bitcoins.
Key Takeaway: whales are called whales because of this reason.
My few satoshis that I extracted from this graph.
Image source
If you attempt to think about the matter more critically, the graph is not saying anything about the quantity of bitcoin whale addresses, it is ONLY talking about the value of the addresses, and of course, the number of BTC addresses above or below $10k is going to go up and down with the movement of the bTC price, even if we were to hold the number of BTC addresses constant.. and if there are severe BTC price movements in a short period of time, you could get the number of BTC addresses going UP when the BTC price is going down, but the BTC price would cause it to appear as if the number of BTC addresses were going down because the measurement relates to spot price of the BTC in terms of dollars.