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

[TaurusBit]

Up we go.

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[eerygarden]

When Greece pass the reforms through parliament on Wednesday everyone is expecting a dip right? It's not just me?

[rjclarke2000]

No one got rich playing safe.

I'll invest and if it goes wrong, so be it.

The potential upside is too great to ignore. I don't fancy working until I am 70 so I will invest (not just in crypto) continuously through my working life until there is no need to be a slave anymore.


Or you could earn and keep in in the bank. Your choice.

Can you retire from being a slave or can you just become a retired slave?

Lets say you have $1b in the bank and you live a lifestyle where you only use people's services and offer no service in return, you merely exchange your $ for goods and services until you die. Is this freedom?

Perhaps you would invest some of your $. Let's say you invest in property, well then you take on the role of overseer. You would take a rental income from your tenant and if they do not pay you would call upon the state to evict (punish) the tenant. It's all as civil as it can possibly be and I don't hate it but common we remain, no matter what number we achieve with our mathematics skills.

Freedom to me is buying property and working for myself renovating houses which I enjoy. Not relying on anyone else for work. Being able to treat my family without worrying. Being able to say to my wife she doesn't have to go to work again as we have enough money for her to bring our own child up and be at home with him each day instead of extortionate UK childcare costs that are more than her wage.

That's freedom for our family. No greed, just security.

[TerraMaster]

I think after all the shaken stock markets, Greece and all the other crap that really isn't going away, it has spurred on many investors to take a second hard look at BTC as an added security. Diversify!  

I don't think the Greece issue was behind BTC latest rise so much as everything else. That's why only a slight drop but still strong.

[Fakhoury]

Oh, this thread is getting bigger and bigger!

Anyways, is it relatively safe to move my entire savings into Bitcoin? I want help from experts about this..

For sure, it's.

Why wouldn't it be not ?

Price may drop to $100 or something like this and I can lose everything very fast, right? Is it even possible? I'm really afraid of this.

Well, you will find my reply highly optimistic and realistic for me, so please don't understand as I'm encouraging you or anything.

First of all, always don't risk what you can't afford to lose.

Second, since first doesn't apply for me, because I'm all in, I can't see that bitcoin will go to zero or will take a high dip to $100, even if it took, I will be ultra-happy so I can buy more coins.

Third, as I always say, forget about the normal Joe like you and me, do you think all that bitcoin startups and VC with all effort, money and power put into bitcoin, is put without seeing tomorrow ? We are talking here about millions of millions.

At last, I see a better tomorrow with Bitcoin, not only me, a lot here agrees with me and we as a community march together for a better tomorrow, and let this reply be the witness

[bassclef]

I'm currently trading this. My guess is up. It's a classic ascending triangle trend continuation, where buyers aggressively outbid each other to get their limit bids filled. This results in rising bottoms. Eventually it breaks up when there's no lower prices to be had and the resulting market orders push up the price through resistance. 

Or not 

The setup didn't pan out as I had hoped but I'm still holding the position. I think LTC will probably follow BTC during the upcoming bull market (as it did in 2013) so it will pay to have strategic positions in each. One should be cautious playing with LTC as it's a smaller market and therefore more volatile and prone to slippage.

The recent rally in BTC is fundamentally different than those that came before it in that it jumped the resistance between $260-80 very decisively and quickly on strong volume, with a large jump in price in a very short time (compare the length of the big 3d green candle to previous ones).

After a long, excruciating trading range where price has held resilience and various informed interests have taken position, this is a huge sign of strength and an indication that the market is ready to move up and begin to correct and recapture some of the lost gains from the year long bear market.

[ChartBuddy]

Coin
Explanation

[Fakhoury]

I'm currently trading this. My guess is up. It's a classic ascending triangle trend continuation, where buyers aggressively outbid each other to get their limit bids filled. This results in rising bottoms. Eventually it breaks up when there's no lower prices to be had and the resulting market orders push up the price through resistance. 

Or not 

The setup didn't pan out as I had hoped but I'm still holding the position. I think LTC will probably follow BTC during the upcoming bull market (as it did in 2013) so it will pay to have strategic positions in each. One should be cautious playing with LTC as it's a smaller market and therefore more volatile and prone to slippage.

The recent rally in BTC is fundamentally different than those that came before it in that it jumped the resistance between $260-80 very decisively and quickly on strong volume, with a large jump in price in a very short time (compare the length of the big 3d green candle to previous ones).

After a long, excruciating trading range where price has held resilience and various informed interests have taken position, this is a huge sign of strength and an indication that the market is ready to move up and begin to correct and recapture some of the lost gains from the year long bear market.

I like how bull and optimist your are, bassclef

[eerygarden]

No one got rich playing safe.

I'll invest and if it goes wrong, so be it.

The potential upside is too great to ignore. I don't fancy working until I am 70 so I will invest (not just in crypto) continuously through my working life until there is no need to be a slave anymore.


Or you could earn and keep in in the bank. Your choice.

Can you retire from being a slave or can you just become a retired slave?

Lets say you have $1b in the bank and you live a lifestyle where you only use people's services and offer no service in return, you merely exchange your $ for goods and services until you die. Is this freedom?

Perhaps you would invest some of your $. Let's say you invest in property, well then you take on the role of overseer. You would take a rental income from your tenant and if they do not pay you would call upon the state to evict (punish) the tenant. It's all as civil as it can possibly be and I don't hate it but common we remain, no matter what number we achieve with our mathematics skills.

Freedom to me is buying property and working for myself renovating houses which I enjoy. Not relying on anyone else for work. Being able to treat my family without worrying. Being able to say to my wife she doesn't have to go to work again as we have enough money for her to bring our own child up and be at home with him each day instead of extortionate UK childcare costs that are more than her wage.

That's freedom for our family. No greed, just security.

I don't see freedom in what it is that you say. That's just a lifestyle which you think you will be happy with at this moment in time. I am in the same country as you and my daughter receives child care too. I expect that the servants that provide the child care to her are poorly paid, they are typically aged between 16-22. I would find it tough work and their enthusiasm is quite something.

It sounds like you want a fair deal. "I'll work hard making properties nice for people to live in if everybody else will allow my wife to raise my son instead of work". But there is so much more that we get that we often do not think about, we get a building that we didn't have to build ourselves, it is supplied with fuel so that we can cook our food, bathe and heat our homes, we have water on tap. There are people every day bringing food in to our towns/cities and packaging them so that we can select them and take them home so conveniently.

I don't think there is anything wrong with you wanting such a deal. If you can get it, or have already gotten it then well done to you. I wouldn't call it freedom though. I would say it is more of a goal within the confines of the Great British Pound. Frankly, I wouldn't be without it. If/when Britain goes through something similar to Greece at the moment. Oh dear oh dear.

[ChartBuddy]

Coin
Explanation

[Richy_T]

Economics has a practical definition of intrinsic value, which very different from the arguments philosophers use.

Economics has an impractical definition of intrinsic value that leads to all sorts of wrong conclusions.

I'm not just being obtuse, I'm explaining what's wrong in the thinking.

[ChartBuddy]

Coin
Explanation

[dragonseer]

Oh, this thread is getting bigger and bigger!

Anyways, is it relatively safe to move my entire savings into Bitcoin? I want help from experts about this..

For sure, it's.

Why wouldn't it be not ?

Price may drop to $100 or something like this and I can lose everything very fast, right? Is it even possible? I'm really afraid of this.

You can move a percentage of your savings to Bitcoin, and if it drops to $100 then just hold on to it. It is just as likely to go to $1000. At this stage I don't think there are any low risk investments, as banks can just confiscate your savings if they choose. If you want to keep your savings liquid then Bitcoin is a great choice. There are always precious metals, and if you want to invest in hard assets and have the cash, look at a Steinway Piano (they have appreciated in value as much as anything)

[yefi]

The setup didn't pan out as I had hoped but I'm still holding the position. I think LTC will probably follow BTC during the upcoming bull market (as it did in 2013) so it will pay to have strategic positions in each. One should be cautious playing with LTC as it's a smaller market and therefore more volatile and prone to slippage.

The recent rally in BTC is fundamentally different than those that came before it in that it jumped the resistance between $260-80 very decisively and quickly on strong volume, with a large jump in price in a very short time (compare the length of the big 3d green candle to previous ones).

After a long, excruciating trading range where price has held resilience and various informed interests have taken position, this is a huge sign of strength and an indication that the market is ready to move up and begin to correct and recapture some of the lost gains from the year long bear market.

Well, you might still be right about LTC, though I'm on the sidelines there until I can see something I can hook into. Can't really get a feel which way it's going right now.

Regarding BTC, I'm bullish.

[ChartBuddy]

Coin
Explanation

[Erdogan]

Economics has a practical definition of intrinsic value, which very different from the arguments philosophers use.

Economics has an impractical definition of intrinsic value that leads to all sorts of wrong conclusions.

I'm not just being obtuse, I'm explaining what's wrong in the thinking.

You have explained nothing, you seem to be fixated on the word intrinsic, and refuse to discuss what it is. In fact you got this right in a previous post: Gold's utility value is pretty low and its current price is mostly speculative.

By refusing to use the tools of the trade (the words, in this case), you at the same time refuse insight. It is common, but bad.

[E]

(Edit: Whoops, wrong thread.)

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[DaRude]

That whale that stacked the ask side of the finexs orderbook to 18k hasn't gone anywhere, so there's at least that bitcoin must overcome

[TerraMaster]

I don't know about y'all but I'm pretty pleased with where BTC is. More would be better... but

Lets not forget $230.00 is still in our rearview mirror 

[ChartBuddy]

Coin
Explanation