Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Regarding the Arizona bill, Governor Hobbs is known to veto most of the bills, let's not get our hopes up there.
Nvidia is new to me, do you have any sources?
The US selling gold to buy bitcoin -- I believe it when I see it.
Hobbs is an incompetent idiot, but she won’t alienate Bitcoiners by vetoing this bill. It’ll pass automatically on Monday. That’s what I’m expecting.Nvidia is new to me, do you have any sources?
The US selling gold to buy bitcoin -- I believe it when I see it.
The Nvidia rumor is all over X. If there is no truth to it, they got a lot of folks to repeat it.
The rumor I’m reading is that the United States will revalue their gold to current prices giving them a $900 billion dollar increase on their books, which they will use to sell off $100 billion and invest in Bitcoin. I think the old multiple of an investment’s effect on market cap is 15? If so, this sends us to $170K this year by itself. Add in $10 billion in short covering, $50 billion in buying from Strategy, potentially $100 billion from other large companies, billions from other governments, retail, banks… You can see the path to $444K beginning to materialize. You crazy bastards are going to get rich!
4x to 5x from here is not that outrageous, yet i suppose that we probably would have to count the top from somewhere around our jumping off point, which I would like to suggest to be $27k from October 2023 for this particular cycle.. so then $444k would be right around 16.5x.. which may well be the same (or similar) to our 2021 run if we count $69k as our top, and $4,200 from April 1, 2019 as our jumping off point.
These kinds of patterns are difficult to rely upon as a predictor, and they seem a bit incredible to set forth such scenarios prior to their happening. I have recently had conversations in the real world with no coiners (bitcoin skeptics) about bitcoin reaching $1 million anywhere between 1 year and 8 years, and they look at me like I am crazy, and frequently I will proclaim that they hardly have any credibility or knowledge on the matter, and I may have had even been talking with them about bitcoin for a couple of cycles (or more) already, and they still have not taken much if any actions to establish a reasonable bitcoin allocation... and even if they had taken some kind of a reasonable bitcoin position 8 years previously, they would be in a much better position to have insurance against quite a bit of the current dollar debasement that we are ongoignly witnessing.
Sure we also have supply chain issues in recent times, yet even supply chain issues can end up having quite a bit of reflection in price, even though sometimes there could be some availability issues too that go along with the various ways that governments are creating problems (potentially purposefully creating such problems) for regular people.
We are so close, though.
You think that we might have a fake out?. and then what? Go back to lower $90ks or lower than that?
We could have a quickie, up to $99k, and then back to $91k or even into the upper $80ks, and that would not be any kind of surprise. It might be a bit frustrating if we get back into the lower $80ks again... especially with so many BIG players supposedly getting into bitcoin (or are the new BIGGER players buying fake bitcoin that is held on third party services?).
Need a meeting about $97k now.
Your joke makes no sense. The third guy is supposed to say something different from the first two.. That's why he get's thrown out. And the question that you pose in the meme is ambiguous too.
Ready the copter me thinks 
We still need $110k for the chopper...Still some way to go, but getting closer.
Should happen in May.
Sounds bettable. I am not going to take the other side of that bet, but still? "Should happen" seems to assign greater than 50% odds for such a happening.
I think that there are some folks who are still convinced that a new ATH will NOT happen this year and perhaps not even happen before October for some of them. Philip? At the same time, I still don't see any bets coming out of the contrasting viewpoints.
Here is a link to a video that lays out something that's happening in the Core GitHub right now, which is a little bit annoying to say the least.
Is it just me or his Peter Todd always rustling up these kinds of problems?
I think Kratters conclusion, which is these things are complicated, but when you start to see conversations being shut down, it's a red flag is pretty on point.
Sadly, this has the potential to turn into a fork. I kind of hate that it's happening right now for sure, and it sort of seems like this is why we can't have nice things.
I also can't believe that I'm seriously considering switching to Knots. Considering the goofy number of nodes that I run, it's going to be a pain in the ass.
Forgive me if this has already been posted or is being discussed.
https://youtu.be/o7kCqwR9x24
Just finished this, Valid Points.Is it just me or his Peter Todd always rustling up these kinds of problems?
I think Kratters conclusion, which is these things are complicated, but when you start to see conversations being shut down, it's a red flag is pretty on point.
Sadly, this has the potential to turn into a fork. I kind of hate that it's happening right now for sure, and it sort of seems like this is why we can't have nice things.
I also can't believe that I'm seriously considering switching to Knots. Considering the goofy number of nodes that I run, it's going to be a pain in the ass.
Forgive me if this has already been posted or is being discussed.
https://youtu.be/o7kCqwR9x24
https://www.youtube.com/watch?v=15biQH1H140
The thing is, Bitcoin is a human creation, and as such, it is subject to human errors and even a complete collapse if something goes terribly wrong. This is a fundamental difference between Bitcoin and naturally-created, naturally-immutable elements, such as precious metals (gold, silver), and this is the reason why I'm skeptical when changes to the Bitcoin code are proposed and implemented. To counteract this inherent disadvantage, Bitcoin has mechanisms in place, like consensus, forking, and decentralization, so that any side effects in code changes can be quickly and effectively mitigated. There have been numerous code updates over the 16+ years of Bitcoin's history, and Bitcoin is still going strong and better than ever, which shows that this system is extremely robust and failure-resistant. Still, Bitcoin Core consists of human beings, and human beings often fuck things up for various reasons.
Having said that, the ability to update the code is a major (if not the major) advantage of Bitcoin, because it allows progress, innovation, and the mitigation of future issues (think Quantum Computing attacks or other advances in cryptography).
Perhaps I should have posted this after watching the videos, but this is my initial, uninformed take on the issue. In 2017 I was totally against the block size increase (heated arguments with jbreher and all). Code disputes, conversations shutting down, potential forks, etc., just worry me. Maybe I'm just being paranoid (I do that often), or it's because I generally tend to favor a conservative ("if it ain't broke, don't fix it") approach to critical code changes. I guess Bitcoin has grown so big, that it simply cannot be allowed to collapse. Will see what the future brings. Only good things, I hope.
Bitcoin Mechanic is quite convincing.