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

[savetherainforest]

ban bitcoin trading

https://www.bloomberg.com/news/articles/2017-09-29/cryptocurrencies-drop-as-south-korea-bans-icos-margin-trading

Again. Stop smoking MSM pole. South Korea has not banned bitcoin trading.

They seem to not read all the title.  "icos-magin-trading" ..   .. Meaning that even trading of ico's tokens is still allowed, just not leveraged, unfair, crazy margin trading. They should learn to read.

[d_eddie]

1) set aside a small amount of Bitcoin for trading
2) make a series of laddered sell orders with your trading funds
3) as your orders get bought into, place buy orders of the dollar value of the sell, but at a lower bitcoin price
4) as your buys execute, enter sells at a higher bitcoin price
5) rinse and repeat. With volatility, the net effect is that your quantity of Bitcoin will grow
6) the net direction is up. You will over time accumulate a backlog of open buy orders that are unlikely to ever be bought into
7) as your open buy orders cross the threshold of implausibility, cancel them. Now they are cash.
8 ) you may or may not be bitcoin positive at this point. Either way, you are cash positive
9) when your pile of stinky fiat gets big enough that you don't know how to spend it, withdraw any remaining open sell orders.
10) Sit back and let bitcoin get pricier until the cash itch returns.

Now this is a nice revolving system. For the earliest adopters, there is the nice "got fiat even" milestone when you withdrew as much fiat as you put in. The milestone can be hit several times, depending on the timing of buys and sells.

[Samarkand]

...

this hodl philosophy will really hurt bitcoin one day. this could end in some kind of deflation spiral...

What if I told you that Bitcoin´s best use case was savings all the time?
Bitcoin is deflationary by design, which is even more extreme due to coins
that are lost forever (lost private keys, people that die with a stash of BTC
without anyone knowing about it...).

This increases scarcity, which is extremely valuable and necessary for BTC
to act as a store of value - something that most so called fiat currencies
are not!

[JayJuanGee]

Is this rise purely down to hodling btc before OCT 1st due to the bitcoin gold fork?

We don't know the exact date of the bitcoin gold fork, yet, do we?

I thought that it was going to be in mid-to-late October?  Did I miss something? 

I know it is quite difficult to keep up with the mucho bullshit that continues and whether we should be keeping track of one thing or another in order to profit from our HODLing (maybe there are various conspiracies to disrupt the HODLers by creating these mucho distractions?)

[Samarkand]

Is this rise purely down to hodling btc before OCT 1st due to the bitcoin gold fork?

We don't know the exact date of the bitcoin gold fork, yet, do we?

I thought that it was going to be in mid-to-late October?  Did I miss something? 

I know it is quite difficult to keep up with the mucho bullshit that continues and whether we should be keeping track of one thing or another in order to profit from our HODLing (maybe there are various conspiracies to disrupt the HODLers by creating these mucho distractions?)

You´re welcome! 

https://twitter.com/btcgpu/status/912122750952652800

Hodl BTC on 10.25 get free BTG on 11.1

25th October seems to be the snapshot date.

However, I have my doubts that this hard fork will provide much value. I don´t see it
trading for an exchange rate that is comparable to Bitcoin Cash.

What are your guesses for the Bitcoin / Bitcoin Gold exchange rate? I´d be surprised
to see something higher than 5 mBTC = 1 BTG (Bitcoin Gold).

[Torque]

Just saw this from Andreas https://www.youtube.com/watch?v=FyK4P7ZdOK8

He describes how money serves as a system of control as a primary function.

I'll admit he makes a great case for BTC but by the end of it I couldn't help fearing that he sounded a bit cultish although correct.
Makes me want an anon atm machine across the street from me.  

Andreas only sounds that way at times because he's trying so hard to unplug people from the Matrix. But they don't want to unplug, don't want to take the red pill.

If you haven't seen it yet, check out this oldie but goodie from Stefan Molyneux on 'Bitcoin vs. Political Power'.
https://www.youtube.com/watch?v=joITmEr4SjY

[Meuh6879]

http://www.zerohedge.com/news/2017-09-30/meanwhile-bitcoin-soars-40-post-dimon-china-lows

"How do you regulate an algorithm?" he asked, drawing laughs from the audience. "I don't know yet. The answer is we have to continue to study this."

Still, that doesn't mean there aren't possible next steps. For example, those studies might include looking more closely at how another algorithm, perhaps one created by the Federal Reserve, might ensure fairness in mathematical form, something Harker said is crucial to any potential cryptocurrency controls.

  regulate an algorithm ... oh yeah, we have winners here.
even journalist laught about this question.

[Meuh6879]

OK, it falls ...

[Torque]

http://www.zerohedge.com/news/2017-09-30/meanwhile-bitcoin-soars-40-post-dimon-china-lows

"How do you regulate an algorithm?" he asked, drawing laughs from the audience. "I don't know yet. The answer is we have to continue to study this."

Still, that doesn't mean there aren't possible next steps. For example, those studies might include looking more closely at how another algorithm, perhaps one created by the Federal Reserve, might ensure fairness in mathematical form, something Harker said is crucial to any potential cryptocurrency controls.

  regulate an algorithm ... oh yeah, we have winners here.
even journalist laught about this question.

The Fed is chock full of 'tards. They keep telling the public that they "don't really understand inflation" and can't hit their inflation targets. Meanwhile everyone's health care premiums, food, energy, bills, cars, entertainment, hair cuts, oil changes, etc. have nearly doubled in the last 9 years while their wages have gone nowhere. The public is getting poorer by the minute and they don't even realize it.

And the Fed wants to keep gaslighting the world and say there is no inflation? Pffft! We're not that stupid.

I no longer think we'll see a market crash any time soon. I think that every hard asset is going to continue to melt up.

[Icygreen]

Just saw this from Andreas https://www.youtube.com/watch?v=FyK4P7ZdOK8

He describes how money serves as a system of control as a primary function.

I'll admit he makes a great case for BTC but by the end of it I couldn't help fearing that he sounded a bit cultish although correct.
Makes me want an anon atm machine across the street from me.  

Andreas only sounds that way at times because he's trying so hard to unplug people from the Matrix. But they don't want to unplug, don't want to take the red pill.

If you haven't seen it yet, check out this oldie but goodie from Stefan Molyneux on 'Bitcoin vs. Political Power'.
https://www.youtube.com/watch?v=joITmEr4SjY

Fantastic! Just saw it and I'm sure I'll be sharing this.  Thanks mate!

[JayJuanGee]

I hear you. But the landscape is changing. With all these forks there's an insidious kind of inflation happening. Bitcoincash, Bitcoingold...and now the big guns with Segwit2x. Doesn't that skew the math a bit in your mind?

It is not exactly inflation. If you adopt the view that each bitcoin you hold represents 1/21,000,000 of the total economic value, then your purchasing power is unaffected by these splits -- neither positively nor negatively.

Your response here make almost no sense whatsoever, especially since you also seem to be an advocate of these supposed take-over bitcoins.  

So if there is any kind of question at all in terms of what is the real bitcoin, then forks are dilutions of the real bitcoin (and does not matter which version you believe to be the real version, as long as there is any kind of market value that is given to competing non-bitcoins)

The only way you get NO dilution whatsoever, is if the various non-competing versions of bitcoin have no value and no perception of value (and what kind of fantasy world is that).  I will assert that through the passage of time, many of these competing versions of bitcoin have a decent chance of going to zero if they stop getting support - but how fucking long is that going to take when you have a number of persons out there, including yourself (whether we refer to them as nutjobs or not) who are either pumping value into them or proclaiming that the competing version is the real bitcoin - and possibly a few gullible folks buy the message because they either really believe it or they think possibly they could get rich from such a outside likelihood of a transformation, if such transformation were to take place.

As to your earlier question, I am primarily in hodl. When I get a hankerin' for stinky fiat...
1) set aside a small amount of Bitcoin for trading
2) make a series of laddered sell orders with your trading funds
3) as your orders get bought into, place buy orders of the dollar value of the sell, but at a lower bitcoin price
4) as your buys execute, enter sells at a higher bitcoin price
5) rinse and repeat. With volatility, the net effect is that your quantity of Bitcoin will grow
6) the net direction is up. You will over time accumulate a backlog of open buy orders that are unlikely to ever be bought into
7) as your open buy orders cross the threshold of implausibility, cancel them. Now they are cash.
8 ) you may or may not be bitcoin positive at this point. Either way, you are cash positive
9) when your pile of stinky fiat gets big enough that you don't know how to spend it, withdraw any remaining open sell orders.
10) Sit back and let bitcoin get pricier until the cash itch returns.

Actually, this is a real nice step by step description that borders on perfection... hahahahha.. funny I say that about the content of one of your post.. Miracles do happen.    


Regarding your point 8:  There are ways to structure your sales in order that you never run out of bitcoin - even if bitcoin reaches $10 million.  You just project ahead in order that you never run out, which means not selling too many and possibly monitoring or adjusting if it appears that you are selling too many that would cause you deficiencies at various points.  Also, you can use some of the cash that you accumulated based on your step 7 to make a few adjustments, here or there to your holdings and to buy on dips, to the extent reasonable and practical for your situation.. and possibly, also, like you seem to suggest the cash accumulated from step 7 might not ever be reinvested, but possibly just used for personal pleasure (if any of us can imagine such things beyond posting in these forums... hahahaha).

Regarding your points 9 & 10:  I think that there are going to be quite a few of us who may be in a situation similar to this, if we have been employing such a staggered buy/sell strategy for the past couple of years when there has been between 10x and 20x BTC price appreciation, depending upon when you got in and how you had played the matter - so there have likely been quite a few of us having to consider and reconsider these kinds of matters, in part based on BTC performance that may have shot above expectations, while employing strategies to address a likely scenario of "too much fiat."  
After going through this, I have figured out ways to approach my too much fiat "problem" that differs slightly from your approach.  I don't actually cancel BTC sales orders; however, I tend to make those BTC sales orders smaller and perhaps spread them out a bit larger, also you can get into a temporary arrangement of buying back a bit more than you sell in order to help to bring a better balance... another option is just to hang onto the money for a couple of situations such as 1) the price corrects downwardly so much that you want to garner up as much fiat that you can in order to throw at what appears to be a bargain basement situation or 2) just do the outrageous thing of completely removing the money completely from the table and spending it (and actually having some fun with it - far fetched as that may seem   )..

[El duderino_]

END list, good luck!

19/9 rayx12 
24/9 kidbitter*
25/9 binaryreign*
26/9 player99
27/9 xhomerx10
28/9 khufuking
29/9 jhayzxenon*
30/9 yermom
01/10 teamtarp*
02/10 bitchick *
03/10 ^BuTcH^
04/10 minermannc
05/10 punisher1314*
06/10 jimbo Toronto*
07/10 player514*
09/10 Oinas*
10/10 bikerlezno*     LAST WINNER
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14/10 bitcoinaire*
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26/10 weltmaster*
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29/10 roombot*
30/10 notme*
31/10 twocorn
01/11 YamashitaRen
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05/11 jojo69*
06/11 d_eddie*
07/11 empowering*
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30/11 last of the v8s *
01/12 newworldcoiner*
02/12 souspeed*
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04/12 sgk*
05/12 fluidjax
07/12 free-bit.co.in
08/12 imbatman
09/12 yonton
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28/12 deathangel*
30/12 erre
31/12 elwar
01/01/2018 lewis pirenne*
02/01/2018 addressed*
03/01/2018 bathy
05/01/2018 bitcoin psycho
06/01/2018 chowhan
07/01/2018 fabiorem*
18/01/2018 raja_mbz*
22/01/2018 _javi_
26/01/2018 kurious*
28/01/2018 steelboy*
29/01/2018 alcohodl
01/02/2018 cristitcm
18/02/2018 in the silence
20/04/2018 fractal universe*
15/03/2018 Carl85
15/05/2018 oldtimegin*
15/06/2018 samson
16/08/2018 samarkand

[BlindMayorBitcorn]

The BCH peg is coming unloose. Any guesses where it will be when Coinbase releases their bag to the people?

[btcbeliever]

1) set aside a small amount of Bitcoin for trading
2) make a series of laddered sell orders with your trading funds
3) as your orders get bought into, place buy orders of the dollar value of the sell, but at a lower bitcoin price
4) as your buys execute, enter sells at a higher bitcoin price
5) rinse and repeat. With volatility, the net effect is that your quantity of Bitcoin will grow
6) the net direction is up. You will over time accumulate a backlog of open buy orders that are unlikely to ever be bought into
7) as your open buy orders cross the threshold of implausibility, cancel them. Now they are cash.
8 ) you may or may not be bitcoin positive at this point. Either way, you are cash positive
9) when your pile of stinky fiat gets big enough that you don't know how to spend it, withdraw any remaining open sell orders.
10) Sit back and let bitcoin get pricier until the cash itch returns.

Now this is a nice revolving system. For the earliest adopters, there is the nice "got fiat even" milestone when you withdrew as much fiat as you put in. The milestone can be hit several times, depending on the timing of buys and sells.

How can you trade without generating 1099b and paying 30-50% to criminal irs? At least in ysa in high tax states

[Meuh6879]

answer : https://www.youtube.com/watch?v=Bu5Mtvy97-4

[jojo69]

How can you trade without generating 1099b and paying 30-50% to criminal irs? At least in ysa in high tax states

[Torque]

...

this hodl philosophy will really hurt bitcoin one day. this could end in some kind of deflation spiral...

What if I told you that Bitcoin´s best use case was savings all the time?
Bitcoin is deflationary by design, which is even more extreme due to coins
that are lost forever (lost private keys, people that die with a stash of BTC
without anyone knowing about it...).

This increases scarcity, which is extremely valuable and necessary for BTC
to act as a store of value - something that most so called fiat currencies
are not!

Yeah it hasn't hurt gold or silver.  Also, see Gresham's Law.

Gresham's Law also applies to the information the public is receiving about Bitcoin right now.
Bad information (MSM negativity propoganda) drives out good information (what Bitcoin researchers know).

[BlindMayorBitcorn]

Jackbooted gubmint thugs have feelings too.

[RoomBot]

I guess I'm alone in thinking these projections are wildly optimistic. Am I?

Nope.

"EVERY time the price doubles?"     You know we're in the $4000s now, right?

LMAO

[RoomBot]

Guys, is hodl a paradox? When are we supposed to enjoy our riches? I've never had riches before. Should I be living in a richly place now? I've never lived in a richly place before.

I just don't know.

Some time back, I bought my wife an Instant Pot (fancy pressure cooker) with Bitcoin at a 25% discount via Amazon/Purse.io. Told her by using Bitcoin (which was already way up for me), it was the cheapest Instant Pot money could buy.    

Then Bitcoin quintupled.

Now she looks at the Instant Pot and says, "Most expensive fucking Instant Pot money could buy."    And sits there scheming over all the things she could have bought HODLing instead.

So yes. HODL is a paradox. Yes indeed.

Nevermind I bought all the dips on the way up. Nevermind I can retire early now. That fucking Instant Pot will always be my HODL reminder.

"Yes honey, it's a lovely house, but we could have bought a fucking castle, you idiot!"

Wow, glass so half empty there!

I bought my dream bike with some of my BTC gains 3 months ago, and even as I expect the market value to shoot the Moon, I will never look back and regret it. Of course I'm HODLing most of it.

Life is for living, yo.