Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[Majormax]

Of course, I have hereby committed a common fallacy:  Using the dollar as the measure of Bitcoin’s value.  If we soon see the effects of rapid dollar inflation (as seems a real possibility), then Bitcoin may indeed soon hit $1,000,000, without gaining any purchase power—just because the dollar crashed, and a $100 bill now buys a loaf of bread (if that).  Hyperinflation could also quickly give us quadrillion-dollar Bitcoins, or whatever; but that would not mean much, if it may also signal the global breakdown of technological civilization, and thus, the loss of the Internet.

A moderate amount of dollar inflation is also built into the rise since 2013:  $50 in 2013 dollars would be worth significantly more today.  Not >100x more!

Firstly:  Yes, inflation since 2013 doesn't account for BTC rise. The driver is success of adoption.

Secondly:  Suppose there is a deflation ?  (the dollar increases in purchasing power). Maybe the drop in all asset values is signalling that future.


I am sure everyone will jump in here to tell me deflation is 'impossible'.  Well, I have heard that from many speculators for the last 30 years, and during that time deflationary trends have gotten steadily stronger.

The deflation can happen by a generalised default. If companies and individuals are already too indebted to take on any more loans on any terms, they will simply go bust. It will not matter how much 'money' is lent to the banking system, or how much 'money' wealthy ppl and businesses have. The only way this can be forestalled is by the money-printers (govt, banks and wealthy creditors) giving it gratis , including large scale debt relief/forgiveness. The mechanism for debt forgiveness is fraught with arguments about unfairness, and therefore very hard to impliment.

[marcus_of_augustus]

Of course, I have hereby committed a common fallacy:  Using the dollar as the measure of Bitcoin’s value.  If we soon see the effects of rapid dollar inflation (as seems a real possibility), then Bitcoin may indeed soon hit $1,000,000, without gaining any purchase power—just because the dollar crashed, and a $100 bill now buys a loaf of bread (if that).  Hyperinflation could also quickly give us quadrillion-dollar Bitcoins, or whatever; but that would not mean much, if it may also signal the global breakdown of technological civilization, and thus, the loss of the Internet.

A moderate amount of dollar inflation is also built into the rise since 2013:  $50 in 2013 dollars would be worth significantly more today.  Not >100x more!

I am sure everyone will jump in here to tell me deflation is 'impossible'.  Well, I have heard that from many speculators for the last 30 years, and during that time deflationary trends have gotten steadily stronger.

The deflation can happen by a generalised default. If companies and individuals are already too indebted to take on any more loans on any terms, they will simply go bust. It will not matter how much 'money' is lent to the banking system, or how much 'money' wealthy ppl and businesses have. The only way this can be forestalled is by the money-printers (govt, banks and wealthy creditors) giving it gratis , including large scale debt relief/forgiveness. The mechanism for debt forgiveness is fraught with arguments about unfairness, and therefore very hard to impliment.

bingo, 1929 crash was the beginning of deflationary Great Depression, this looks much more like 1929 than 1987 or 2008 so far ... the only ways out are a grinding depression and systemic default of the currency (monetary reset like 1930's) or if they print enough to paper over all the defaults then the wealth divide will increase massively further still and economic stagnation will increase with the even more extreme misallocation of resources ... like Japanese for the last 30 years on steroids.

[ChinkyEyes]

... pity about lambie slayer going into a full retard panic about the sclerotic 0.1%er global economy going into the shitter. He was ok until he caught the virus. Now it's like we got infested with another govvie trolling shill disruptor ... like roach got reassigned or something? The global economy was dying long before this angel of death bearing plague showed up, right on time for them sweet corporate and banking bailouts too I might add.

Yup, all fiat currencies are meant to go to zero. Just research the history of fiat currencies. They all ended the same way. The current system was destined to die. We are just lucky to witness it happen before our eyes. Hopefully we can see it happen without dying from corona

I gotta say, living in Europe and in a first world country, I am glad I live here and not somewhere else. The government protects businesses and helps my employer with paying for my salary. I know if I lived in a different country I would be out on the streets already.

[somac.]

Of course, I have hereby committed a common fallacy:  Using the dollar as the measure of Bitcoin’s value.  If we soon see the effects of rapid dollar inflation (as seems a real possibility), then Bitcoin may indeed soon hit $1,000,000, without gaining any purchase power—just because the dollar crashed, and a $100 bill now buys a loaf of bread (if that).  Hyperinflation could also quickly give us quadrillion-dollar Bitcoins, or whatever; but that would not mean much, if it may also signal the global breakdown of technological civilization, and thus, the loss of the Internet.

A moderate amount of dollar inflation is also built into the rise since 2013:  $50 in 2013 dollars would be worth significantly more today.  Not >100x more!

I am sure everyone will jump in here to tell me deflation is 'impossible'.  Well, I have heard that from many speculators for the last 30 years, and during that time deflationary trends have gotten steadily stronger.

The deflation can happen by a generalised default. If companies and individuals are already too indebted to take on any more loans on any terms, they will simply go bust. It will not matter how much 'money' is lent to the banking system, or how much 'money' wealthy ppl and businesses have. The only way this can be forestalled is by the money-printers (govt, banks and wealthy creditors) giving it gratis , including large scale debt relief/forgiveness. The mechanism for debt forgiveness is fraught with arguments about unfairness, and therefore very hard to impliment.

bingo, 1929 crash was the beginning of deflationary Great Depression, this looks much more like 1929 than 1987 or 2008 so far ... the only ways out are a grinding depression and systemic default of the currency (monetary reset like 1930's) or if they print enough to paper over all the defaults then the wealth divide will increase massively further still and economic stagnation will increase with the even more extreme misallocation of resources ... like Japanese for the last 30 years on steroids.

Completely different monetary system now to back in the great depression days. Printing enough to paper over it is exactly what they will do. The system is designed to make the poor poorer in the long-term, bitcoin is of course the opposite.

[vapourminer]

...

Hey Searing - I gotta question...

For me, every one of your posts has bizarre carriage returns or line feeds or something. Do you use lynx or some other pre-GUI tool to browse the WO?

Just wonderin'...

Naw...just being 'different'

I suppose I 'should' 'squish' them all back together and such when done though....(looks fine at my end..go figure)

i wondered about the formatting too. i thought maybe some old dos program that you could never let go of.

https://winworldpc.com/product/wordperfect/5x-dos

[vapourminer]

@OP, this poll is typical of democracy:  It offers an exclusive choice between wrong options.

Poll

Question:    What causes you more fear? (credit:Micg)

🔘 Coronavirus
🔘 Bitcoin

[Submit Vote]

Please add this option:  “Panic”.

if this is added, please also add "sit back and watch the panic"

[cryptogod322]

Guys who have any thoughts on technical analysis?
Who is in what position?
After analyzing tradingview, I was able to come to a single conclusion. Now, many traders recommend generally refraining from transactions, but the volatility in% ratio is not bad, I would even say good, and this should be used.
It seems to me that behind all these "problems", many traders generally moved away from trading.
What are yall thoughts?
I am more inclined to short positions, I can also send here my thoughts to tradingview, strangely enough my ideas were supported by a large number of traders.

[Gyrsur]

the Pound is tanking.  

GBP/USD ATL from 2016 is broken.

[fillippone]

Breaking news.
 For the first time in Europe, an italian bank offers direct real bitcoin wallet on their services.

Italian Bank offers Bitcoin Wallet Integration in their Online Platform.

Think about square, but integrated on a traditional bank approach.

I know, not your keys, not your bitcoin.
But a lot of people simply cannot understand how to hodl.
This is a state of the art- secure framework to hodling your funds.

Even if you don't like it (fully legitimate to think so), this is an option for more people to jump in.

the Pound is tanking.  

GBP/USD ATL from 2016 is broken.

Cable going down is good for UK exports.
They export a lot of things, like....
like...

[xhomerx10]

@satoshi_babe
I bought some #Bitcoin  right now, will it go back down now ? 🙃
[...]

I don’t know to be honest, but if it doesn’t I will.


 

Aren't you afraid of germs, LFC?



 

I think that is now the canonical expression of true love:  You will risk contracting coronavirus so that you can come closer than officially mandated social-distancing distance.

Either that, or an expression of the fact that you think with the little head.


Anybody notice how it is now considered healthy to be isolated from other human beings?

 I don't believe any of us doubt your ability to compose a lengthy disquisition on the differences between healthy and prudent.  Are you trolling us, Nullius?

[nutildah]

the Pound is tanking.  

GBP/USD ATL from 2016 is broken.

Pretty much all currencies are going down against the dollar. Weird how that works, isn't it.

RUB down 5%.

Chinese yuan is one of the best performing at -0.25% to USD...

Yet the U.S. are the ones doing the money printing... My only guess is other countries are printing even more?

Weird AF, even if this is exactly what happened in 2008/09.

[Paashaas]

Crude oil prices fall to $25, the lowest since 2003

[mindrust]

*TRUMP SEEKING OVER $1,000 IN DIRECT PAYMENTS FOR AMERICANS

Printing money is not the solution, this is a temporary solution, it only increases the global debt, more bubble.

An honest gesture would be to forgive the debt with the citizens.

[jojo69]

I remember in 08, I bought gold a some crazy price around $800 in the first panic.

It didn't last long.

Of course, we didn't have Bitcoin back then.

[rolling]

the Pound is tanking.  

GBP/USD ATL from 2016 is broken.

Pretty much all currencies are going down against the dollar. Weird how that works, isn't it.

RUB down 5%.

Chinese yuan is one of the best performing at -0.25% to USD...

Yet the U.S. are the ones doing the money printing... My only guess is other countries are printing even more?

Weird AF, even if this is exactly what happened in 2008/09.

It has little to do with printing and more to do with confidence. No fiat is really backed by anything so it all comes down to confidence. Since most currencies are at least partially "backed" by the USD, it gains value through confidence in times of crisis regardless of how much the Fed prints as long as it seems generally within reason (to bankers, not the general public).

In reality, the whole world subsidizes the actions of the fed because everything is based on/backed by the USD and the fed's actions create liquidity that helps every country maintain their own house of cards.

[JimboToronto]

Good morning Bitcoinland.

Still over $5k... currently $5271USD/$7540CAD (Bitcoinaverage).

Stock markets still plummeting. Bitcoin holding its own.

Go Bitcoin go.

Anybody notice how it is now considered healthy to be isolated from other human beings?

What? How about 2 thumbs on a cellphone? Isn't that "social"?

[infofront]

the Pound is tanking.  

GBP/USD ATL from 2016 is broken.

Pretty much all currencies are going down against the dollar. Weird how that works, isn't it.

RUB down 5%.

Chinese yuan is one of the best performing at -0.25% to USD...

Yet the U.S. are the ones doing the money printing... My only guess is other countries are printing even more?

Weird AF, even if this is exactly what happened in 2008/09.

The money printing doesn't matter. It's the confidence in the currency and the country that backs it that matters. The entire global economy is about to be destroyed, but the US and China will come out on top.

[Ibian]

I've got an idea. Why don't we quarantine  all the old and wise.

Then the young and stupid can infect each other. Great way to fight the idiocracy.

 

Sadly there are not many people who are both old and wise. Most old people would die under your plan.

[Ibian]

...

Hey Searing - I gotta question...

For me, every one of your posts has bizarre carriage returns or line feeds or something. Do you use lynx or some other pre-GUI tool to browse the WO?

Just wonderin'...

Naw...just being 'different'

I suppose I 'should' 'squish' them all back together and such when done though....(looks fine at my end..go figure)

Maybe try some paragraphs too.

[El duderino_]

We Belges are on lockdown, I did some shopping like the rest of the horde, only her is one very big shop not for everyone, lucky I own a card, full with everything and very quiet inside ...
Man I bought an whole wine department I think 

When resto is forbidden, then the dude will still find he's way to a good bottle of RED-WHITE or ROSÉ