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

[Meuh6879]

Okay, Okay, they have balls ...



But, we have the 5k ATH.

[1715654280]

1715654280

[1715654280]

1715654280

[Ted E. Bare]

30% haircut. Wait for it.

Haircut confirmed.

[jojo69]

Haircut confirmed.

goddess please let it be so

[Meuh6879]

Good article : https://steemit.com/bitcoin/@wekkel/bitcoin-vs-gold-debate-intensifies

shutdown by Governments

The following paragraph goes into the matter of a shutdown of Bitcoin exchanges by Governments:
"A more likely scenario is that governments or hackers shut down Bitcoin exchanges. In fact, back in 2014, there was the infamous Mt. Gox hack, in which over 800,000 coins were stolen and almost caused the end of Bitcoin. The owners of cryptocurrencies must hope that governments never shut down the exchanges or websites that enable these electronic transactions. Governments can try to ban gold ownership, but that must be done on a door-to-door basis and is extremely difficult to accomplish. But to place confidence in cryptocurrencies is to put faith that governments cannot control the internet."

I see a lot of different arguments mixed together. If I understand Michael correctly, the arguments boil down to the following:

    governments/hackers may shut down Bitcoin exchanges
    the Mt. Gox hack almost caused the end of Bitcoin
    governments can shut down exchanges and websites and thus shut down cryptocurrencies
    banning cryptocurrencies is easier than banning gold

While government interference certainly plays a role, I consider it kind of a black thought that governments would completely ban cryptocurrencies. That would be token of a total lack of trust in current governments.

[Torque]

Lol, nobody is buying Roger Ver's bullshit anymore:

https://twitter.com/rogerkver/status/903780652369289216

Just look at all the commenters... #REKT

Hehe...  I just saw his Twitter picture still says 'Bitcoin', not 'Bitcoin Cash'.

His site bitcoin.com also has BTC/USD ticker on top, not BCH. and when you click on 'buy' button, it says 1 Bitcoin = 4500 USD. That means BTC, not BCH! Sucker!

Not to mention he keeps being interviewed in videos and the interview is definitely about Bitcoin, he clearly says/promotes "Bitcoin" and not "Bitcoin Cash", etc. etc. If he really cared about BCH more then he'd never mention Bitcoin again or continue to promote it.

I think the whole BCH thing is a complete red herring. He's either being paid off to promote it (by the deep state?), or he's just a complete nut job. Either way, his fork is DOA and doomed from the beginning to fail.

[JayJuanGee]

I wish. I had to pay an exorbitant 6.8% buy fee but at least I seem to have caught the bottom (for now). Just a few hundred bucks worth but everything helps.

If it goes back down below $4.45k I'll do it again.

Jimbo:

Do you keep track of your average cost per BTC?  Since you buy and never sell your average cost per BTC must be going up and up and up?  I understand that you started buying in the double digits (or at least I recall that), and I think that you responded to this kind of question from me previously, so sorry about the redundancy.

I do believe that your system does go to show (even with various fees) that you can come out much ahead, even by employing a BTC hodl and accumulation strategy without selling (except maybe selling when it comes time that you really feel that you need to cash out of some of those babies)

Recall that I started buying at $1200 in late 2013, and after about two years of buying at lower prices, my average price per BTC dropped to a bit more than $500.  It could have been much lower, except I had blown a larger portion of my wadd at buying in the $600 and $400 price territories while experiencing some quasi-unexpected cash flow issues in 2015...

Thereafter, starting in late 2015 I engaged in trading that employed a good system of buying back with money that I had gained in selling, and largely brought my BTC stash up while bringing my average cost per BTC down to below $400 by early 2017.

There seems to be some advantages to limiting your interactions and using paper storage because my keeping some coins on exchanges has resulted in various losses through hacker sophistication to get into my personal credentials and also through exchange vulnerabilities, so sometimes these kinds of exchange related losses and interacting by sending BTC around can end up taking away some BTC profits to lower the total amount of bitcoins held and/or raise the average cost per BTC. 
 
I think that the punchline for me, is that my total number of BTC is lower than it had been in late 2015 because of losses - but my average cost per BTC is less (at least in the $400-ish territory), but mostly due to BTC price appreciation of selling higher and buying lower - even though I am buying back at much higher prices than my average, my average price per BTC keeps going down because I am selling at prices higher than I buy.

Your system seems much more hands off, even though you run out in your pajamas at 2 in the morning.  hahahahaha 

I am doing the same as you, or at least trying to... . The way to account is simply keeping track of total, in my case, € invested at any time, versus market value of the stash. To be forced to have a certain amount in an exchange for the trading is the most vulnerable part indeed.

To keep track of my average cost per BTC, I use an excel spreadsheet that have various formulas to keep track of some other metrics, too.

I have a low number of alts too (including BCH - and soon to be some BTC-e tokens - and I used to have BFX tokens that were force liquidated by bitfinex), and I tend to estimate a BTC value for my various alts (and to low ball my estimated value of the various alts in order to not exaggerate the BTC equivalencies).

Regarding some of the exchange vulnerabilities - I cannot help myself because it seems that I am making pretty decent money by employing some of this, and I have also taken some additional security measures - as well as moving a decent portion of my coins further away from any potential vulnerabilities or breaches by using Trezor and ledger wallets.  I am kind of experimenting with both of those hardware wallets, so I have not really concluded whether one might be preferable to the other - and I may want to play around with the Trezor2 when it comes out.  Hardware wallets seem like a decent way to spend some bitcoin profits - for the level of security and usability that they seem to offer.

[Ted E. Bare]

Only 10% haircut. Limited time offer.

[gembitz]

Lol, nobody is buying Roger Ver's bullshit anymore:

https://twitter.com/rogerkver/status/903780652369289216

Just look at all the commenters... #REKT

https://twitter.com/baijorge/status/903802519687753731

 

lel

[conspirosphere.tk]

You are really pie in the sky if you think that Gold is going to appreciate better than BTC in the coming years.

Sure, anything can happen, but you are not being very practical or logical if you believe that various governments can more easily control the movement, storage and hoardings of bitcoin as compared with gold. 

Corrected for inflation the 1980 gold high would be likely around 5000 USD now, so a tripling is in the cards. A BTC price tripling from current levels, i.e. hitting about 15K USD does not seems so guaranteed to me for 2 reasons:

- naked short selling BTC requires way less money than naked short selling the global gold market (a difference of several orders of magnitude);
- the BTC share of cryptomarket is declining, probably because people does not like to spend several thousands for a fraction of cryptocoin, and especially because the higher the BTC price rises and the smaller the potential further gains become in %, which make BTC less attractive for speculators the more its price rises.

But I keep staking some ounces of PM every once in a while just because of risk management and diversification.

[jojo69]

But I keep staking some ounces of PM every once in a while just because of risk management and diversification.

and soooooooooo pretty

[Searing]

Only 10% haircut. Limited time offer.

while you are wating..elevator music.....(mamba...)

https://www.youtube.com/watch?v=VBlFHuCzPgY

[ssmc2]

What's up with the spread between stamp, finex, and coinbase?

[fabiorem]

Only 10% haircut. Limited time offer.

These bears are getting weaker everyday. Now they just scratch us and pretend to have bitten.

Where's kwukduck to spread his usual doomsday "predictions"?

[bones261]

What's up with the spread between stamp, finex, and coinbase?

I speculate that the difference stems from the ability to do a margin short on finex, so the sell pressure can be more easily amplified on finex. It's easier to convert fiat to Bitcoin on Coinbase rather than stamp, so the bulls can refuel easier. Especially on weekends. That's only my guess though.

[pfrtlpfmpf]

I missed it too, guys, thought it´ll cut trough 5000, like butter, but the sentiment defines the price.
So, i have to buy moar at a discount, suits me, as well !
Its just the people, who are selling at close to 5000. When they are done, we can go on . . .
Nothing is gonna stop us now

[Arriemoller]

Why all the chat about Risto guys?

I miss the guy.

Miss him? He was active on bitcointalk today and posted only a few days ago. He hasn't gone anywhere has he?

What thread?

[BlindMayorBitcorn]

I guess that could have been worse. 'Twas just a trim, really.

[BlindMayorBitcorn]

Lol, nobody is buying Roger Ver's bullshit anymore:

https://twitter.com/rogerkver/status/903780652369289216

Just look at all the commenters... #REKT

https://twitter.com/baijorge/status/903802519687753731

 

lel

Geez. That really is some donkey-headed shit.

[Elwar]

So what's the new channel?

Are we going to be bouncing between $4500 and $4800 or so?

[jojo69]

I need to see some volume in this ramp to believe in it