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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: February 28, 2021, 07:14:27 PM
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When has the top of a cycle ever been just over 2 x the previous cycle high? Come on guys, you’re better than this FFS. This is just a regular (close to) 30% correction which happens multiple times in a bull run. Rinse & repeat guys, we’re only at the second significant dip of this bull run (post halving). This is the last bull run  You’ll see multiple significant corrections on the way up to $19,xxx. Some of you have been in bitcoin even longer than me. Sack up FFS! Yes, it is a second deep correction with the total number last time being 6. I agree that two is maybe a low number, which probably portends well. The only difference is the weak-hand institutional managers to whom 20% down is a 'bear market'. I'd figure those institutional managers would try to get a clue about the world they're entering before committing their institutional bucks to something. Have they not seen the past charts? Haven't they factored in the possibility of mildish retracement (such at the present one, at least at the moment)? Or, as one of our most raging bulls succintly put it, those institutional investors are supposed to have... Much stronger hands than mailmen and grannies in 2017 if you ask me...  I always welcome your point of view btw. I'm out of merit and don't want to inflate WOsMerit too much either, least capt. Toxic spanks me for brrrrr-ing his creation to oblivion. Just keep it coming.  |
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: February 25, 2021, 04:28:53 PM
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CSW made the headlines again. This time for suing some of the core developers. https://www.coindesk.com/craig-wright-demands-bitcoin-developers-give-him-access-to-stolen-mt-gox-coins[CSW] demands access to two wallets that contain 31,000 and 79,957 BTC.
The wallets, curiously, are connected to the hack that drained 800,000 BTC from the world’s then most-popular bitcoin exchange in 2014. Wright claims the bitcoin in the wallets were stolen from him last year. So he basically admits to stealing from MtGox in the first place, and later got hacked and lost access to those stolen funds. Not the brightest fraudster... What a fucking knob; I can't wait until this fraudster ends up in jail. Jail I'm not sure, but he does have a few dates of his own in court... only a matter of time before some shit hits the fan in his own living room. |
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1150
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: February 25, 2021, 12:24:56 AM
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i feel like i will be kinda disappointed if i actually make money on gme..
Well, disappointed is overstating it slightly, in my case. I considered GME as a crazy diamond hand training exercise. it's $154.36 after hours trading currently. wish I had bought. CFO has quit today. $172 now. It's going parabolic Got a site to watch after hours without insane delays? @lightfoot I'm not following you on the prison thing, and a search didn't help much. Was it a joke or what's the deal? |
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1155
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: February 24, 2021, 12:05:00 PM
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If you have been in bitcoin for a while, but you are relatively young, and you feel disappointed with the size of your stash, you would still be way ahead of the vast majority of the worlds population because ONLY a small number of people both know about bitcoin and have taken measures to stack sats, and as I have frequently stated, in traditional circles, there have been a lot of people who had spent 30 years or more trying to accumulate wealth and some more successful than others, and if you end up being able to increase the chances that you will be successful by investing in sound money (surely referring to bitcoin here) and even to significantly cut down the timeline (maybe even cutting in half) to become richie or able to live off your investments, then you would be way ahead of a lot of people
a bit ago, just after btc had hit 30k or so, i talked to my main financial guy whom i hadnt spoken with for a while, maybe 6+ months or so. 1st words outta her mouth were "congrats on your bitcoin call!" she was truly impressed. said more clients are asking them about btc and theyre slowly learning it. said its still a hard thing to grasp from the olde skoole point of view but once traditional finance peeps get more involved it should get interesting. of course their clients dont want the trouble of holding and using btc itself. just as an investment thing. so 3rd party all the way. but maybe some will truly understand and actually buy the btc instead of some eft or whatever thing that is offered. There are a few possible advantages with ETFs vs the real thing for individual savers. 1. Simple, carefree approach, just buy this "btc stonk" or whatever, bank keeps as usual, number go up, I'm good. 2. Easier taxes. Just another capital gain, managed with all the others without having to chase papers from the various exchanges to document the basis cost of every lot. If used this way, an ETF could be the doorway to a new breed of semi-hodlers. Of course, to curb easy manipulation it should be in kind (not cash) and strictly audited at the issuer's, which sounds a bit like a fairy tale from what we hear and know. If it even happens soon, which still remains to be seen. For bitcoiner OGs, I don't think the real thing can be beaten easily as it is. Point 1: We're used to take care of custody and have been doing so from day one, or day two at most. Not your keys blah blah. Point 2: Tax laws can change that. We'll see how this develops, but I'm confident there will be a relatively easy road ahead, now that so many big boys have joined the choir. They do lobby and move lots of votes. No lawmaker can ignore that. |
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1158
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: February 24, 2021, 03:02:58 AM
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I think I need more coffee.
May I have some too, please? Let's say I have 1 million dollars and 20 BTC (I haven't). I don't want to spend my dollars do buy more BTC for reasons.
Is there a way, playing with futures, that I can get more dollars, more BTC, or more dollars, same BTC, or more BTC, same dollars, in the end ?
Not that I know.* The system outlined in the previous posts by somac., Biodom and others has only two outcomes: (a) more dollars, less (or equal) btc; (b) same dollars, more btc. In both cases, the total dollar value at the moment of the outcome is more than the value at the start. * (As if I would tell you if I knew! All bitcoinz belongz to me!)Case b is OK. As for case a, can I estimate my risk ? Depending on what it is, I could cover it by buying some additional BTC (granted, I said I didn't want to). I posted an ELI5 a little later. TL;DR Number go up =(a) less corn. Number go down = (b) moar corn. Number same = same corn. Estimate the risk of number go up/down? I wish I could. It's all SOMA! |
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