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

[jojo69]

welcome back Jimbo...GO JAYS!

How was Rowley??

Did the job quite nicely. Threw strikes and showed good poise. Was averaging less than 13 pitches per inning through 5.

Only allowed one run and that was a lead-off triple that came in to score on a soft ground ball up the middle and that was only after he'd gotten 2 outs.

Gibby pulled him with 1 out in the 6th after allowing 2 baserunners. He got a well-deserved standing ovation.

He only threw about 75 pitches. That was probably a pre-imposed limit due to the fact that he'd been recently converted to a reliever and then barely stretched out enough for today's start. A couple more starts and he could be an inning eater.

I like the cut of his jib.

Excellent!  Thanks for the run down.

Mariners fan here, of course when the Jays come to town Vancouver packs our park solid.  It is the best kind of friendly rivalry.  

We got your guy Paxton down here, been doing a hell of a job for us.

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[bitebits]

I am more interested in knowing if people whose net worth is orders of magnitudes lower also think buying a lambo is reasonable because it came as "free money" and think it will keep coming forever.

The more bitcoin goes up, the tighter I hold onto my coins. I once bought a yoyo for 4btc. I leave that yoyo on my desk to remind me to not make that mistake again.

Great anecdote, thanks for sharing. And I noticed to do the same while the price is ricing. It somehow feels greedy to convert to fiat money, strange actually. Because you could as well say that holding on to your bitcoins is because of greed for more purchasing power.

For one I can't really live with the feeling of being shaken out by institutions and big players. And I grew attached to them anyway.
http://nakamotoinstitute.org/mempool/im-hoarding-bitcoins-and-no-you-cant-have-any/

Secondly I don't fancy material belonging that end up owning me (like lambos and boats for example). However I do long for financial independence, which is how I got into bitcoin in the first place. So please bones261, don't sell your coins for deprecating assets.

[JayJuanGee]

It's becoming increasingly tempting for me to just cash in my pitiful 2 BTC and be done. But then what would I do with my free time?

Do not do it. I have the same amount than you (well, only a bit more), I bought 2 btc when it was priced at 10$, i was too young and poor to invest more lol, and this year when price was around 900$ i bought a bit more. The first investment is now worth 40.000% more since then, so who knows how much will be bitcoin worth it in a few years..
If you need to sell, do it with a small proportion, a 10% of your total btc or less, and try to rebuy if the price falls after you sold. I do that in some strategic price points, and it works pretty well. I will do it again when price goes to 5k, and then in the 10k. If the price dips under 5k after i sold i will try to buy the dip the best i can, if it does not dip, then i will be taking profits and forget about rebuying, but psycologicall barriers usually work pretty well and they make good dips to buy  

Exactly.... a great strategy and can even be done with relatively small amounts of bitcoin.

[yefi]

Thanks. People who think that we may see sub $1000 or even sub $2000 (possibly, too early to tell) again are delusional at best. Just take a look recently what happened:
1) Major exchange is gone (BTC-e).
2) Biggest Bitcoin mixer is gone (bitmixer).
3) Several darkmarkets are gone.

What has Bitcoin been doing since these events occurred? Kept skyrocketing. The honey badger does not give a fuck and keeps storing wealth.

Contradicting all those pundits who claimed BTC's value was dependent on crime. 

This is crazy!!!!!! Remember during the last crash when people were contemplating suicide. That time is probably just around the corner, but will be a much worse this time as we have mainstream media attention at a larger scale

You don't even know what crazy is!!!!!! Seriously, you have no idea how high we could still go. Breaking ATH is massively bullish and growth rate is still increasing. 

[Lauda]

Thanks. People who think that we may see sub $1000 or even sub $2000 (possibly, too early to tell) again are delusional at best. Just take a look recently what happened:
1) Major exchange is gone (BTC-e).
2) Biggest Bitcoin mixer is gone (bitmixer).
3) Several darkmarkets are gone.

What has Bitcoin been doing since these events occurred? Kept skyrocketing. The honey badger does not give a fuck and keeps storing wealth.

Contradicting all those pundits who claimed BTC's value was dependent on crime.  

Ironically, I've read such claims (comment section) on some very recent articles in a few mainstream media. This is further proof for my belief that in a time where we are presented with a wast source of information (interweb), that average Joe keeps distancing himself from facts and that the average IQ/knowledge keeps declining. For example, one comment claimed that most of BTC's transactions are dark-web related which is absurd as: 1) You can't know which transaction is which / only estimate. 2) Transaction volume has not taken a significant hit after the markets were killed. 3) BTC is excellent for online transactions, and I'm sure plenty of people use it (I don't even have to mention Gambling).
I hope this price point holds: 37xx.

[Xavofat]

What has Bitcoin been doing since these events occurred? Kept skyrocketing.

You say that as if it's a good thing.  Bad events should not be resulting in rising prices.  It would be healthy for the market to react to good and bad events depending on which happen at which time and how relevant they are to BTC users, but it's not doing that.  It's just flying upwards regardless of anything that is actually happening.

There are some positive events (such as SegWit), but people on this thread are not seeing positive events or potential positive events and then buying and causing the price to rise.  They're watching the price rise and then desperately trying to justify it with positive events even though it went up by >$1000 in a week.

[Meuh6879]

Tesla HODL

shit, it's a ludicrous ! (carbon spoiler).
https://www.youtube.com/watch?v=q5HgthPgzgQ

[JimboToronto]

Mariners fan here, of course when the Jays come to town Vancouver packs our park solid.  It is the best kind of friendly rivalry.  

We got your guy Paxton down here, been doing a hell of a job for us.

Cool. Our teams joined the AL the same year so there'll always be a bit of a link.

Watching baseball and Bitcoin can be real fun. The night we broke through $3000USD to set our first ATH in weeks, the Jays were on the road so I was at home watching them on my computer and 4K screen.

I had the game in one window and Bitcoinwisdom (Stamp) in another, cheering hits, green candles and strikeouts, one after another. My friend thought I was from Mars at first but after a bit she got right into it as well. She's not a big ball fan but she loves to see me make money.  

That night the Jays might have lost but Bitcoin won big time and that made both of us very happy.  

[Lauda]

You say that as if it's a good thing. 

It is. It shows that Bitcoin has become so robust that these events have minor effects.

It would be healthy for the market to react to good and bad events depending on which happen at which time and how relevant they are to BTC users, but it's not doing that.  It's just flying upwards regardless of anything that is actually happening.

Wrong. It was quite heavily swinging up and down, and even reached a bottom of $18xx.

There are some positive events (such as SegWit),

"Some" and SegWit can't be placed in the same sentence. You have no idea what you're talking about.

They're watching the price rise and then desperately trying to justify it with positive events even though it went up by >$1000 in a week.

Absolute numbers are useless, use percentages.

[JayJuanGee]

I'm wondering whether you're trolling, you've sold somewhere very low or you're just outright stupid. The new floor is somewhere between 2k-3k if not higher.

Unless something really majorly fucked up happens, the most we should expect would be a 30% to 40% price correction, and it really seems quite likely that we are first going up further before going down.. So our subsequent significant correction, were it to occur is going to start from a decently higher price point.. so maybe something like $2500 could be our new floor.....

Now, if we were to traverse into a bear market from here, then of course lower floors are quite likely; however, it seems not too likely to go straight from here to a bear market, and we likely would not realize that we were in a bear market until about 4 months or longer down the road because it would take a while to turn around what seems to be our current bullish BTC market sentiment.

[Xavofat]

You say that as if it's a good thing.  

It is. It shows that Bitcoin has become so robust that these events have minor effects.

People use positive events which have been happening for longer than just a few weeks (such as Japanese adoption) to justify unnecessarily dramatic rises in prices.  What makes you think that people won't use those negative events to justify unnecessarily dramatic falls in prices if they happen later?  You can't be sure of what the effects are yet, because you're not talking about the same people as you were last bubble (2013).  People don't "mature" if they're new and different people each boom/bust cycle.

It would be healthy for the market to react to good and bad events depending on which happen at which time and how relevant they are to BTC users, but it's not doing that.  It's just flying upwards regardless of anything that is actually happening.

Wrong. It was quite heavily swinging up and down, and even reached a bottom of $18xx.

At the start of the year, $1800 would have looked like a bubble.

There are some positive events (such as SegWit),

"Some" and SegWit can't be placed in the same sentence. You have no idea what you're talking about.

I strongly doubt that speculators know what they're dealing with either.  SegWit is great but if adoption were rising as quickly as the price is (multiplying by about 4 since the start of the year) SegWit blocks would already be full, even if most people were using it.  LN could take some of that strain later, but even then the price is hyped up.

They're watching the price rise and then desperately trying to justify it with positive events even though it went up by >$1000 in a week.

Absolute numbers are useless, use percentages.

About 30%.  But my view is that when you're building on a price that was high to start with, absolute numbers are nice to use alongside percentages and show just how much money you're talking about.

[fabiorem]

Have been watching the graphs today, and I think there will be no correction this time, no dip.

Two or three times I saw whales trying to dump the price, but it only got to the 3800's. They don't have weight anymore to do more intense dumps.

Price is on the 3900's and finding the usual psychological resistance on the triple zero. But I think this time it will break the barrier easily. The triple zero will not be considered a solid resistance as time passes, the four zero will be more likely to provoke corrections.

So let's accelerate this rocket to the 10,000's. Just accept it.

[Icygreen]

Have been watching the graphs today, and I think there will be no correction this time, no dip.

Two or three times I saw whales trying to dump the price, but it only got to the 3800's. They don't have weight anymore to do more intense dumps.

Price is on the 3900's and finding the usual psychological resistance on the triple zero. But I think this time it will break the barrier easily. The triple zero will not be considered a solid resistance as time passes, the four zero will be more likely to provoke corrections.

So let's accelerate this rocket to the 10,000's. Just accept it.

So.... a bigger player or several have entered, mass adoption has started, or both? 

[bitserve]

Final round. Watch closely....

[aesma]

Feeling like I'm going to be driving that Porsche this winter !

I am curious. The guys buying high end porsches, lambos etc... Are you doing it selling a SUBSTANTIAL part of your stash (like 20-50%) or is it something more organic like 1-5% of it?

Feel free to not answer the question for privacy reasons or do it in an ambiguous way. I just want to know if you guys are acting responsibly or like if this was free money that will keep coming forever.

I'm talking about 5 BTC at 5000€ since it would be a used 911. It would be a substantial part of my stash (less than 20%) but more importantly it's about what I've spent getting that stash. After that, if BTC goes to 0, I will not have lost anything, only bought a car I maybe shouldn't have bought.

Currently I've got 3 cars, 2 donated, 1 a company car, I've never even bought one !

I understand your concern, but at the same time I can't watch BTC go up and up and not gain anything from it. I'm a lifelong fan of the 911, it's on my bucket list.

I would want several millions in the bank/real estate before considering buying a new Lambo. I like the old LP400 better anyway, but it's a rare classic car : even more expensive than a new one.

[600watt]

Final round. Watch closely....

wtf no dip at all? where is that force coming from?

 

[bitserve]

Final round. Watch closely....

wtf no dip at all? where is that force coming from?

 

Wut? You just had a little ($200) dip a couple hours ago.

Don't know where it is coming from.... but the dynamics are clear.

[600watt]

Feeling like I'm going to be driving that Porsche this winter !

I am curious. The guys buying high end porsches, lambos etc... Are you doing it selling a SUBSTANTIAL part of your stash (like 20-50%) or is it something more organic like 1-5% of it?

Feel free to not answer the question for privacy reasons or do it in an ambiguous way. I just want to know if you guys are acting responsibly or like if this was free money that will keep coming forever.

I'm talking about 5 BTC at 5000€ since it would be a used 911. It would be a substantial part of my stash (less than 20%) but more importantly it's about what I've spent getting that stash. After that, if BTC goes to 0, I will not have lost anything, only bought a car I maybe shouldn't have bought.

Currently I've got 3 cars, 2 donated, 1 a company car, I've never even bought one !

I understand your concern, but at the same time I can't watch BTC go up and up and not gain anything from it. I'm a lifelong fan of the 911, it's on my bucket list.

I would want several millions in the bank/real estate before considering buying a new Lambo. I like the old LP400 better anyway, but it's a rare classic car : even more expensive than a new one.

owning a 911 porsche isn´t something you will regret. I got a '76 carrera targa 3.0 and every minute I sit in this car is fun.
the thing is we only life once. better treat yourself with something nice.

[bitserve]

Feeling like I'm going to be driving that Porsche this winter !

I am curious. The guys buying high end porsches, lambos etc... Are you doing it selling a SUBSTANTIAL part of your stash (like 20-50%) or is it something more organic like 1-5% of it?

Feel free to not answer the question for privacy reasons or do it in an ambiguous way. I just want to know if you guys are acting responsibly or like if this was free money that will keep coming forever.

I'm talking about 5 BTC at 5000€ since it would be a used 911. It would be a substantial part of my stash (less than 20%) but more importantly it's about what I've spent getting that stash. After that, if BTC goes to 0, I will not have lost anything, only bought a car I maybe shouldn't have bought.

Currently I've got 3 cars, 2 donated, 1 a company car, I've never even bought one !

I understand your concern, but at the same time I can't watch BTC go up and up and not gain anything from it. I'm a lifelong fan of the 911, it's on my bucket list.

I would want several millions in the bank/real estate before considering buying a new Lambo. I like the old LP400 better anyway, but it's a rare classic car : even more expensive than a new one.

That sounds pretty much reasonable, yep.

From all the answers it looks like even if we all appreciate the fine cars, everyone here is also very conscious on its spending and that most of the time the "lambo" thing is more of a joke wish than a real intention. Good to know.

I was having the image of dumb guys with less than 1 million total net worth spending -maybe even before buying a proper home- like 300K in a new car... and it was hurting me.

[soullyG]

Holy shit, this rally still has legs?