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

[savetherainforest]

it's not even about stealing, it's about trading itself being risky.

you never know for sure if the price goes up or down, and if you predict wrong, you lose money. And with such small swings, it is too much risk and not worth your time or the risk.

Risking $500 to make $2 is a stupid idea.

Even if you bet right 200 times, if you bet wrong just once you lose all your profit.

It's just not worth it.

I have no problem with gambling ... as long as it is calculated. You know what I was doing before trading Bitcoin? ... Nope ... I tell you!
I had a statistical algorithm that I reverse engineered to try to predict lottery numbers from different automatic computer generated lotteries. You do math, and you win!
But there where unnecessary cost sometimes where I couldn't follow my projections cause I had too many tickets rolling in the same time... I took time to do the math.. keep count of things... the actual physical time consuming trip to the lottery even if it was 50 meters away from me! I manage to spend less than 30 minutes per week with that and it still felt annoying! Even if was winning 100% after a period with a margin of profit between 50% < - > 1200% ... it was stressful.

But if you have done the math.. on the market share numbers, there should be less than 1> Bitcoins per person on the planet... meaning that soon people will have a buy-in paying literally for "peanuts" ... 0.05 Satoshi will be like in half a year the new Bitcoinlandia minimum monthly wage for many people!

[1714605370]

1714605370

[1714605370]

1714605370

[1714605370]

1714605370

[1714605370]

1714605370

[Assmaster2000]

I have no problem with gambling ... as long as it is calculated.

You know what I was doing before trading Bitcoin? ... Nope ... I tell you!
I had a statistical algorithm that I reverse engineered to try to predict lottery numbers from different automatic computer generated lotteries. You do math, and you win!

Assumed it was something like that.

[savetherainforest]

I assumed it was something like that.

Enjoying profits created from the panic of people gives me great pleasure!

[Assmaster2000]

I assumed it was something like that.

Enjoying profits created from the panic of people gives me great pleasure!

Doesn't even need to be said. Most bitcoin enthusiasts are sociopaths.

[JayJuanGee]

The market is behaving funny. It's as if someone is trying to corner in  

O.k.  I will bite.  What is "corner in"?

Is that another way of saying manipulation?   Or is that a way of saying inability to get passed resistance?

We already realize that sometimes consolidation involves an attempt at a kind of holding pattern until such point that it cannot be held in the consolidation range.  That's no kind of new phenomenon.

https://en.wikipedia.org/wiki/Cornering_the_market

Someone is digging their feet in? Playing both sides of the market to keep the price in a certain range?

O.k. thanks for that explanation..

Hey DaRude.  What's an overview of your personal bitcoin related story?    Did you start buying bitcoins around the time of your registration in March 2013?  What kind of view did you hold?  Did your thinking evolve over the past few years?  Did you own any bitcoin's during either or both of the 2013 price surges?

No, started buying before that sometime in 2012. Hodled and accumulated since then through all the bubbles, gox, BTC26k bearwhale etc... Was inspired by user Loaded As far as view, kind of surprised that the price is where it's at now. I do see it as a binary outcome, it clearly hasn't reached its critical mass, but yet not gone under even with BTC3600 daily supply. Almost lost faith when adoption slowed down and we were trading in $240 range, but hodled through it and now think outlook looks as bright as ever, and gets brighter every day. Buy some BTC and forget about it for 6months, market is way too thin and easily moved to pretend you can trade the patterns

Oh... thanks for providing that.  It is nice to hear real individual perspectives from time to time.  Of course, we do not need to agree or even share the same view, exactly, but there still may be some aspects of our history that we have in common.

Regarding your last point about trading... especially, if we may experience some kind of exponential growth period or two, I believe that there are ways to structure such trading, and really investors should consider approaches beyond the buy and HODL approach.

Certainly, I am not going to advise anyone or to suggest that anyone attempt to do anything that is outside of his/her comfort zone.


Even though I don't agree with the extensively mathematical approach of Rptiela, nonetheless, I think that he provides a good start for conceptualizing going beyond a buy and HODL approach.

https://bitcointalk.org/index.php?topic=345065.0

More or less the concept is that from time to time investors in BTC need to have a plan for taking some profits off the table from time to time.

In the end, probably, you are correct with a suggestion that either reinvesting or any kind of trading has too many screw up potentials, and so just removing some profits, from time to time, could be an intermediate compromise approach, for some folks.
 

[zimmah]

it's not even about stealing, it's about trading itself being risky.

you never know for sure if the price goes up or down, and if you predict wrong, you lose money. And with such small swings, it is too much risk and not worth your time or the risk.

Risking $500 to make $2 is a stupid idea.

Even if you bet right 200 times, if you bet wrong just once you lose all your profit.

It's just not worth it.

I have no problem with gambling ... as long as it is calculated. You know what I was doing before trading Bitcoin? ... Nope ... I tell you!
I had a statistical algorithm that I reverse engineered to try to predict lottery numbers from different automatic computer generated lotteries. You do math, and you win!
But there where unnecessary cost sometimes where I couldn't follow my projections cause I had too many tickets rolling in the same time... I took time to do the math.. keep count of things... the actual physical time consuming trip to the lottery even if it was 50 meters away from me! I manage to spend less than 30 minutes per week with that and it still felt annoying! Even if was winning 100% after a period with a margin of profit between 50% < - > 1200% ... it was stressful.

But if you have done the math.. on the market share numbers, there should be less than 1> Bitcoins per person on the planet... meaning that soon people will have a buy-in paying literally for "peanuts" ... 0.05 Satoshi will be like in half a year the new Bitcoinlandia minimum monthly wage for many people!

I know that, and I'm holding too, if you ever read any of my posts you'd know i'm probably one of the biggest permabulls around.

But that doesn't mean I like to risk my bitcoin by trading them.

Especially not when the spread is so small that you can barely make 1% of profit, if you guess right.

[fichtn12345]

4000 CNY and especially 4444 will be huge psychological resistances in the middle kingdom. 4 in chinese is "sì" (四) and it sounds a lot like "sî" (死) which means death... The chinese people don't like it and try to avoid using it. In elevators for example you might find floor 3a and 3b and floor 5 but no floor 4. Not really comparable to 13 in the west but you can get the idea. ( Most of the airplanes i have been flying with did not have a seat with that number). So there could be some trouble if we do not get past that cursed number quick... On the other hand we might just overshoot it to 5000 cny which would be really great if the western exchanges just follow. My next target is +760$.

Now you can enjoy the rest of the nlc show i guess. kthxbye

[zimmah]

4000 CNY and especially 4444 will be huge psychological resistances in the middle kingdom. 4 in chinese is "sì" (四) and it sounds a lot like "sî" (死) which means death... The chinese people don't like it and try to avoid using it. In elevators for example you might find floor 3a and 3b and floor 5 but no floor 4. Not really comparable to 13 in the west but you can get the idea. ( Most of the airplanes i have been flying with did not have a seat with that number). So there could be some trouble if we do not get past that cursed number quick... On the other hand we might just overshoot it to 5000 cny which would be really great if the western exchanges just follow. My next target is +760$.

Now you can enjoy the rest of the nlc show i guess. kthxbye

we have passed 4000 CNY before, and we will do so again, but you're absolutely right 4000 is a mayor barrier for the chinese to overcome.

But 6000 and 8000 will be heaven though.

[gentlemand]

4000 CNY and especially 4444 will be huge psychological resistances in the middle kingdom.

Well, I guess to prevent mass suicides and eyeballs bursting over computer screens like ripened pustules their exchanges will jump straight from 3999 to 5000. Works for me.

Imagine how much more powerful their economy would be if they permitted 4 into their finances.

[Assmaster2000]

Honestly expected BTC to drop quicker. Gah, so bad at expressing myself, what I meant to highlight is how relieved I am that BTC didn't tank, like it usually does... Ekh... still sounds weak. Guys, congrats on postponing your life of extreme povert ...nonono NO. Thank God we're not invested in ETH shitcoin which sucks. Yeah.

[DaRude]

The market is behaving funny. It's as if someone is trying to corner in  

O.k.  I will bite.  What is "corner in"?

Is that another way of saying manipulation?   Or is that a way of saying inability to get passed resistance?

We already realize that sometimes consolidation involves an attempt at a kind of holding pattern until such point that it cannot be held in the consolidation range.  That's no kind of new phenomenon.

https://en.wikipedia.org/wiki/Cornering_the_market

Someone is digging their feet in? Playing both sides of the market to keep the price in a certain range?

O.k. thanks for that explanation..

Hey DaRude.  What's an overview of your personal bitcoin related story?    Did you start buying bitcoins around the time of your registration in March 2013?  What kind of view did you hold?  Did your thinking evolve over the past few years?  Did you own any bitcoin's during either or both of the 2013 price surges?

No, started buying before that sometime in 2012. Hodled and accumulated since then through all the bubbles, gox, BTC26k bearwhale etc... Was inspired by user Loaded As far as view, kind of surprised that the price is where it's at now. I do see it as a binary outcome, it clearly hasn't reached its critical mass, but yet not gone under even with BTC3600 daily supply. Almost lost faith when adoption slowed down and we were trading in $240 range, but hodled through it and now think outlook looks as bright as ever, and gets brighter every day. Buy some BTC and forget about it for 6months, market is way too thin and easily moved to pretend you can trade the patterns

Oh... thanks for providing that.  It is nice to hear real individual perspectives from time to time.  Of course, we do not need to agree or even share the same view, exactly, but there still may be some aspects of our history that we have in common.

Regarding your last point about trading... especially, if we may experience some kind of exponential growth period or two, I believe that there are ways to structure such trading, and really investors should consider approaches beyond the buy and HODL approach.

Certainly, I am not going to advise anyone or to suggest that anyone attempt to do anything that is outside of his/her comfort zone.


Even though I don't agree with the extensively mathematical approach of Rptiela, nonetheless, I think that he provides a good start for conceptualizing going beyond a buy and HODL approach.

https://bitcointalk.org/index.php?topic=345065.0

More or less the concept is that from time to time investors in BTC need to have a plan for taking some profits off the table from time to time.

In the end, probably, you are correct with a suggestion that either reinvesting or any kind of trading has too many screw up potentials, and so just removing some profits, from time to time, could be an intermediate compromise approach, for some folks.
 

How's Rptiela doing haven't heard from him since he started pushing monero too hard and left this sub, does he still have that castle? As far as trading it's a wild wild west, you tell me how much of your strategy accounts for a major exchange going under, or Dell announcing that they'll start accepting BTC, or China banning BTC, or BTC170k sale by US masrshals, or BTC24k sale by E&Y, or 10% spread with Chinese exchanges, or China banning BTC again, or some trader just putting up a sudden BTC26k ask wall, or Adam getting drunk and leaving this sub etc etc etc fundamentals can only be traded very long term on such thin market and long term fundamentals say HODL  

[yefi]

4000 CNY and especially 4444 will be huge psychological resistances in the middle kingdom. 4 in chinese is "sì" (四) and it sounds a lot like "sî" (死) which means death... The chinese people don't like it and try to avoid using it. In elevators for example you might find floor 3a and 3b and floor 5 but no floor 4. Not really comparable to 13 in the west but you can get the idea. ( Most of the airplanes i have been flying with did not have a seat with that number). So there could be some trouble if we do not get past that cursed number quick... On the other hand we might just overshoot it to 5000 cny which would be really great if the western exchanges just follow. My next target is +760$.

Now you can enjoy the rest of the nlc show i guess. kthxbye

Had no problem hanging about in the 1400s, and from what I've read on tetraphobia, 14 connotes certain death.

[2015Bubble]

Meanwhile low volume pump? Fake out?
double digits?

[gentlemand]

I just sold an item on ebay for $715.  Ebay took $70 in fees and paypal took $21.  Ebay and paypal together made $91 of my $715 sale mysteriously vanish.

How is this not illegal? 

How are these jewing cocksuckers still charging these ridiculous fees when Bitcoin is a thing?

Network effect, innit. One day the same thing might make your coins squirt into the stratosphere. And Ebay gave me a £1 selling fee offer. Maybe they do the same where you are occasionally. Keep your eyes open.

[fichtn12345]

 

[StraightAArdvark]

p.s. yea i mad.  I've just been fucking robbed out of $91 by these cocksucking motherless bastards at ebaypaypal

Don't like eBay? Vote with your feet & use Craigslist. Or keep your shit. Or sell it on the roadside, don't care.
Next time find out how much shit costs b4 using it, lrn 2 free market

[DaRude]

4000 CNY and especially 4444 will be huge psychological resistances in the middle kingdom. 4 in chinese is "sì" (四) and it sounds a lot like "sî" (死) which means death... The chinese people don't like it and try to avoid using it. In elevators for example you might find floor 3a and 3b and floor 5 but no floor 4. Not really comparable to 13 in the west but you can get the idea. ( Most of the airplanes i have been flying with did not have a seat with that number). So there could be some trouble if we do not get past that cursed number quick... On the other hand we might just overshoot it to 5000 cny which would be really great if the western exchanges just follow. My next target is +760$.

Now you can enjoy the rest of the nlc show i guess. kthxbye

i can't imagine dragons being so superstitious. On the other hand a ton of coins on finex for sale till $600 it'll take some volume to push through

[BlindMayorBitcorn]

p.s. yea i mad.  I've just been fucking robbed out of $91 by these cocksucking motherless bastards at ebaypaypal

Don't like eBay? Vote with your feet & use Craigslist. Or keep your shit. Or sell it on the roadside, don't care.
Next time find out how much shit costs b4 using it, lrn 2 free market

If he had more business savvy he'd be hustling product with better mark-up. If you're using Bitcoin and not dealing in narcotics on the dark web, maybe you just aren't that bright? Cocaine, for example. Do you have any idea how popular that stuff is?

[Pro-tip]
Cut it with Lidocaine, tourists can't tell the difference.
[/Pro-tip]

[StraightAArdvark]

p.s. yea i mad.  I've just been fucking robbed out of $91 by these cocksucking motherless bastards at ebaypaypal

Don't like eBay? Vote with your feet & use Craigslist. Or keep your shit. Or sell it on the roadside, don't care.
Next time find out how much shit costs b4 using it, lrn 2 free market

Oh aren't you the cute witty one with the smiley face.  How about you come over my house and I'll downvote your post with my fist?

I just sold something on craigslist by the way.

There's always a wise ass witty cocksucker like you who has to chime in with your smiley faces and your clever comments.  People like you are so lonely.

There's no need to be upset, I like your idea. How about you pay for my time to come over to your shitty house, and if you behave and I like you, I'll let you suck my dick, how would that be?
Or are you gonna backpedal and claim you're too broke?
Where your shitshack at, let's have the addy

[Assmaster2000]

^
>Already rich
>peddling shit on ebay, bawws about 90 shekels.

We got us a rich badass here...