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

[Ted E. Bare]

Lol that billyjoeallen-guy was shorting bitcoin in the $200s and $300s. Don't take him too serious.

Anyway, welcome back. I hope you have more luck this time around.

[1714673753]

1714673753

[billyjoeallen]

Lol that billyjoeallen-guy was storting bitcoin in the $200s and $300s. Don't take him too serious.

I lost a bunch in my daytrading account, sure, but i had much much more in cold storage. Search my comments going back to 2011. I am an early adopter and former permabull. I made so much profit that I quit my job. Now I'm into Dash. I bought in at $80. Currently sitting pretty and HODLing.

[DaRude]

Well well well. I see the blocksize/scaling gridlock is STILL ongoing. Dash is now running 2MB blocks. needless to say, I'm rotating out of cripplecoin into the crypto more faithful to Satoshi's vision. Thanks for buying all those coins I bought for $12, suckers. I literally have so many hundred dollar bills in my pocket that I don't know how many there are. 

So now you'll have no reason to continue to post here, you'll delete your account and move on to dash forum??...Pretty please??

Or just stay here and continue to trolllololol

[billyjoeallen]

Well well well. I see the blocksize/scaling gridlock is STILL ongoing. Dash is now running 2MB blocks. needless to say, I'm rotating out of cripplecoin into the crypto more faithful to Satoshi's vision. Thanks for buying all those coins I bought for $12, suckers. I literally have so many hundred dollar bills in my pocket that I don't know how many there are. 

So now you'll have no reason to continue to post here, you'll delete your account and move on to dash forum??...Pretty please??

Or just stay here and continue to trolllololol

The dust left in my old BTC accounts is worth more than many portfolios here. I still have a vested interest.

[JayJuanGee]

OMG  the 2 hour optimism chart is saying $8500 by Sunday.can't wait

Which chart is that?  I don’t know it.

it's only visible to optimists

$8500 is not very optimistic.   you are coming off as a bear, you psycho... (uh?)   

[Rosewater Foundation]

i feel a wall of text coming. brace for it

[explorer]

i feel a wall of text coming. brace for it

As long as no noob quotes it, we'll be fine.  BJA account likely hacked anyway, as I'm pretty sure he wouldn't take JJG off ignore...?

[Rosewater Foundation]

i feel a wall of text coming. brace for it

As long as no noob quotes it, we'll be fine.  BJA account likely hacked anyway, as I'm pretty sure he wouldn't take JJG off ignore...?

no doubt. dash indeed

[HairyMaclairy]

Guys, do you think my urge to buy ethereum is just fomo and that eth will crash for a while or I should buy it now?
Any suggestions?

I hedge my bitcoin with a small % of Ether and Monero.  It might cost me some $ but helps me sleep.  Make your own call on that.

[RobSteward]

Up we go Weeee

Oh, great.  Another noob à la gembitz going weeeee all over our thread.

*rubs cheek* I shall sit, watch, observe and learn. I shall try improve. Thanks for the insight you guys have already provided me with.



Side note, I bought coins in 2013 but was to young to understand what I did. =/

[HairyMaclairy]

Hilarious article from The Telegraph.

The Bitcoin bubble will burst. It's time for a 'Bitpound'

 
Bitcoin is enjoying unprecedented growth this year, but its value fluctuates widely Credit: Dan Kitwood/ Getty
As I write, Bitcoin is trading at a new high of £6,305. If you had bought one Bitcoin in September, you could by now have made £3,860.

The relentless rise of Bitcoin - a digital currency that can be used to store and save money privately, without the need for banks or names - has defied all expectations. Some have even wondered if the financial experts who have called it 'a fraud' were being deliberately disparaging to protect their own interests.

Bitcoin has given good return to investors, but make no mistake: this is not a bonafide currency, and those who buy it are taking a mighty roll of the dice.

Sweden has put serious thought into launching its own digital currency; China’s central bank is actually testing a prototype

For a start, its value fluctuates widely. The current rally comes on the back of a steep fall last week that saw prices fall to $5,500. So, in a single week, its value increased by 47 percent. If your savings were in Bitcoin, you would go to bed not knowing if you'll be able to afford a Bugatti or just a baguette the next day. The constant fluctuations also mean Bitcoin cannot be used to price goods. And it is worthless as a medium of exchange as hardly anyone accepts it and even when they do, it costs up to $12 per transaction and can take hours to clear.

So, hype aside, Bitcoins are lottery tickets. They have no underlying utility. When the music stops, those left holding them will be burned.

One potential remedy is for central banks to issue their own digital tokens, to show what a real e-currency should look like. A BitPound would have the same value as cash and be backed by the Bank of England, making it stable and universally accepted. Sweden has put serious thought into launching its own digital currency; China’s central bank is actually testing a prototype.

So what could it do for us? Our economies are moving from cash to digital transactions -  cards now account for more than half of all payments in the UK, and online payments for more than one in ten. An e-Pound could make these payment systems fairer - because private payment providers wouldn't be able to exploit their market dominance and charge extortionate fees - and better protected from cyber attacks.

With BitPound deposits, there would be no threat of savings vanishing if banks collapse because consumers would have a direct claim on the central bank itself

An e-Pound would also help the UK fight fraud. Transactions would be linked to accounts at the BoE and so there would be a clear trail of all transactions from the moment a new currency is created. Some have even suggested making e-currencies trackable. While this does raise privacy concerns, it would stop everything from minors buying alcohol to money laundering and tax evasion.

Finally, BitPound deposits would be a secure way to save. There would be no threat of savings vanishing if banks collapse because consumers would have a direct claim on the central bank itself.

The problem is that creating this direct link between consumers and the Bank of England could deprive banks of the deposits they use to create loans. Banks, then, would have to redesign their operating models by, say, offering higher savings rates or the BoE would have to recompense them with the proceeds paid back to the public purse.

There are risks and unanswered questions, but it's time to think seriously about a BitPound - to expose private cryptocurrencies for the wild gamble they are, and make an increasingly digital payment system safe and robust.

[DaRude]

Well well well. I see the blocksize/scaling gridlock is STILL ongoing. Dash is now running 2MB blocks. needless to say, I'm rotating out of cripplecoin into the crypto more faithful to Satoshi's vision. Thanks for buying all those coins I bought for $12, suckers. I literally have so many hundred dollar bills in my pocket that I don't know how many there are. 

So now you'll have no reason to continue to post here, you'll delete your account and move on to dash forum??...Pretty please??

Or just stay here and continue to trolllololol

The dust left in my old BTC accounts is worth more than many portfolios here. I still have a vested interest.

"needless to say, I'm rotating out of cripplecoin" only i'm really not and still have some vested interest in it. How dumb is your target audience that you're trying to influence?  

[fragout]

Hilarious article from The Telegraph.

The Bitcoin bubble will burst. It's time for a 'Bitpound'

 
Bitcoin is enjoying unprecedented growth this year, but its value fluctuates widely Credit: Dan Kitwood/ Getty
As I write, Bitcoin is trading at a new high of £6,305. If you had bought one Bitcoin in September, you could by now have made £3,860.

The relentless rise of Bitcoin - a digital currency that can be used to store and save money privately, without the need for banks or names - has defied all expectations. Some have even wondered if the financial experts who have called it 'a fraud' were being deliberately disparaging to protect their own interests.

Bitcoin has given good return to investors, but make no mistake: this is not a bonafide currency, and those who buy it are taking a mighty roll of the dice.

Sweden has put serious thought into launching its own digital currency; China’s central bank is actually testing a prototype

For a start, its value fluctuates widely. The current rally comes on the back of a steep fall last week that saw prices fall to $5,500. So, in a single week, its value increased by 47 percent. If your savings were in Bitcoin, you would go to bed not knowing if you'll be able to afford a Bugatti or just a baguette the next day. The constant fluctuations also mean Bitcoin cannot be used to price goods. And it is worthless as a medium of exchange as hardly anyone accepts it and even when they do, it costs up to $12 per transaction and can take hours to clear.

So, hype aside, Bitcoins are lottery tickets. They have no underlying utility. When the music stops, those left holding them will be burned.

One potential remedy is for central banks to issue their own digital tokens, to show what a real e-currency should look like. A BitPound would have the same value as cash and be backed by the Bank of England, making it stable and universally accepted. Sweden has put serious thought into launching its own digital currency; China’s central bank is actually testing a prototype.

So what could it do for us? Our economies are moving from cash to digital transactions -  cards now account for more than half of all payments in the UK, and online payments for more than one in ten. An e-Pound could make these payment systems fairer - because private payment providers wouldn't be able to exploit their market dominance and charge extortionate fees - and better protected from cyber attacks.

With BitPound deposits, there would be no threat of savings vanishing if banks collapse because consumers would have a direct claim on the central bank itself

An e-Pound would also help the UK fight fraud. Transactions would be linked to accounts at the BoE and so there would be a clear trail of all transactions from the moment a new currency is created. Some have even suggested making e-currencies trackable. While this does raise privacy concerns, it would stop everything from minors buying alcohol to money laundering and tax evasion.

Finally, BitPound deposits would be a secure way to save. There would be no threat of savings vanishing if banks collapse because consumers would have a direct claim on the central bank itself.

The problem is that creating this direct link between consumers and the Bank of England could deprive banks of the deposits they use to create loans. Banks, then, would have to redesign their operating models by, say, offering higher savings rates or the BoE would have to recompense them with the proceeds paid back to the public purse.

There are risks and unanswered questions, but it's time to think seriously about a BitPound - to expose private cryptocurrencies for the wild gamble they are, and make an increasingly digital payment system safe and robust.

Bitpound eh. Sounds good.
There has been many silly articles about btc over the years but this guy takes the biscuit. Did he write this while taking a dump and spouted out the first thoughts that came into his mind while also concentrating on said dump?

[Rosewater Foundation]

Up we go Weeee

Oh, great.  Another noob à la gembitz going weeeee all over our thread.

*rubs cheek* I shall sit, watch, observe and learn. I shall try improve. Thanks for the insight you guys have already provided me with.



Side note, I bought coins in 2013 but was to young to understand what I did. =/

Tell us about it.

[bones261]

Where's my Black Friday discount on BTC? This small 2% discount off ATH just isn't going to cut it. In fact, yesterday's dip wasn't even that big of a deal. I want a deep discount. Jimbo wants one too. I am sure.  

Maybe if I want a doorbuster, I'm going to have to go to Wal-Mart.  

https://www.youtube.com/watch?v=n_adgG8Ba2Q

I doubt that "Jimbo wants one too."  

There is a kind of mentality of  wanting or hoping for dips, or just preparing for dips.  Those are two different concepts.  If a dip comes, make lemonade out of the lemons.  You don't hope or want lemons, you merely take advantage of the lemons situation comes, which is nearly inevitable that lemons are going to come, from time to time.

I was being facetious. Hence the immediate comment about Wal-mart and the link to the video.

I absolutely hate Bitfinex and believe the "FUD" about spoofy and Tether.   However, Bitcoin does not need Bitfinex for it's own viability. There are plenty of other exchanges. I don't know why some of these twitter OG are coming to the defense of Bitfinex. I think the BTC economy will be a whole lot better without them. I don't even mind that they kicked us US customers to the curb.

Bitfinex FUD is FUD, as you seem to admit, and even though the crash Bitfinex would not kill bitcoin, I don't know why anyone would hope for such a crash.  

Sure, Bitfinex had several opportunities already to employ an exchange exit scam - and seems quite improbable that they are going to employ such, when it is not really necessary, in spite of the mucho bullshit FUD being spread about them.

Regarding, kicking out USA customers, I have mixed feelings about it, since I was personally affected and kicked out of their exchange - but I cannot really blame them for their exercising business discretion or to credit them with any kind of bad or malicious motive because of such business decision.

 I'm surprised after what happened in the summer of 2016 that more were not simply turned off, and took their business elsewhere. If Bitfinex was truly the victim in the hack, then it demonstrated a gross incompetence. I'm not sure why anyone would take the counterparty risk of keeping any funds at all on Bitfinex. FUD is definitely the appropriate term since when dealing with Bitfinex. One should have fear, uncertainty and doubt when dealing with them.
Furthermore, I am not hoping Bitfinex pulls an "exit scam." I much prefer they lose business and become irrelevant.

[JayJuanGee]

...if you have a lot of time vested into some kind of JOB, and you don't necessarily want to leave that money on the table - so in that regard, if the timeline (of suffering in the JOB) is rather short, then it could make sense to be allow that to play out in order to be able to extract some value from that JOB. 

You've sort of hit the nail on the head here. I'm still learning some valuable skills in my JOB that I will be able to apply when "I retire and choose to work on passion projects". Still have have considerable stock vesting over the next little while, and don't want to walk away from that amount of money.

When you put things in the context of "problems of the 1%", it really does make me feel a bit embarrassed and uncomfortable - but I appreciate being able to have honest dialog with you dudes.

My strategy for the short term is to acquire as much fiat as possible, invest it, and maximize the time I don't touch my BTC stash. Not ready to say "Fuck You" just yet.

I appreciate your perspective.

As long as we are HODLers and accumulators, many of us are going through similar dilemmas - and with our varying levels of newly found "richness."

Feels like I've referred to aspects of my story a zillion times, so once more is not going to hurt. 

In late 2013, my initial target was to invest 10% of my quasi-liquid assets into bitcoin, which I felt was a lot of dedication to bitcoin, and I chose to accomplish this objective over the next year (in other words by the end of 2014)... Well, we know how 2014 went - kind of downwards BTC trends all year long, and with a 2015 that was not too much different or better (except perhaps the end of 2015)... well maybe 2015 was better because it was mostly flat, rather than downwards?   

Anyhow, because of that downward BTC price trend in 2014 and 2015, I ended up investing a bit more into BTC than my expectation and close to 12-15% by the end of 2015- and so with various BTC appreciation and even some dumb BTC moves from me, I still end up with way more value of my total wealth allocated in BTC than I had expected - maybe around 2/3 in bitcoin on paper at the time of this typing. - and yeah a large majority of that allocation disparity was due to BTC price appreciation from 2016 to present, rather than any specific kind of brilliance coming from me (except perhaps that I have been practicing HODL and ACCUMULATEL. 

So, yes the dilemmas can play out differently depending on specifics and depending of whether vesting has already occurred with other assets, whether there is money on the table, including cashflow issues which may have not been centrally part of earlier contemplations and how much is that "money on the table is worth" as compared to time invested and the fact that all of us are getting older and are certainly to die some day (hopefully not before we have an opportunity and exercise such opportunity to spend a large quantity of our accumulated bitcoins).

[JayJuanGee]

Well well well. I see the blocksize/scaling gridlock is STILL ongoing. Dash is now running 2MB blocks. needless to say, I'm rotating out of cripplecoin into the crypto more faithful to Satoshi's vision. Thanks for buying all those coins I bought for $12, suckers. I literally have so many hundred dollar bills in my pocket that I don't know how many there are.  

Look what the cat drug in!!!!    

Is it a dead mouse?


NO IT IS NOT.

It is a broken record, AKA billyjoeallen.


I thought that you got so R3CKT so badly in your last two major sales of "cripplecoin" in the upper $200s and the upper $300s that you would not have more than 1 or 2 "cripplecoins" remaining in your supposedly "large" stash?

Must be a bullish sigh that we got our contrary indicators coming back into to the thread to clutter us up with more broken bitcoin bear wisdom.    

Well well well. I see the blocksize/scaling gridlock is STILL ongoing. Dash is now running 2MB blocks. needless to say, I'm rotating out of cripplecoin into the crypto more faithful to Satoshi's vision. Thanks for buying all those coins I bought for $12, suckers. I literally have so many hundred dollar bills in my pocket that I don't know how many there are. 

Try counting them. You muppet

31. don't ask me to count the twenties.

OMG!!!!!!!!

Sounds like you are really rich with 31 100s in your pocket plus some 20s...   Don't spend them all in one place.   

[jbreher]

I do understand that there is one dilemma that a lot of folks could have, and that is if you have a lot of time vested into some kind of JOB, and you don't necessarily want to leave that money on the table - so in that regard, if the timeline (of suffering in the JOB) is rather short, then it could make sense to be allow that to play out in order to be able to extract some value from that JOB.  Sometimes, early retirement can also be an option, but yeah some of the JOB's have minimum age requirements too, so if you have anything approaching 20 or more years in a JOB, but you have to stay an additional year or two or something like that in order to be able to collect, then it could be worth spending that time,... rather than just opting for "fuck you" right away, and without delay.... gosh.. 1000 coins... does almost seem as if "fuck you" could be a dilemma and tempting to just employ "right away", but without knowing how much value is there, it might not be prudent to leave some money on the table, too.

I tender an additional item for your consideration. While many people have 'JOBs', others have careers. Meaningful work can be part of what makes life worth living. I'm just saying that there may be additional considerations more important than simply hitting the 'fuck you money' threshold.

BobLawBlaw, to return to your particular situation, I have no particular suggestion on navigating SO's wishes in relation to your (presumed) expectation for further value increase. Somewhere in the middle would seem prudent.However, finding a worthwhile money adviser may be difficult. If they aren't crypto millionaires, you should ask 'why'? If they don't 'get' crypto, you are unlikely to get useful advise from them. OTOH, if they are crypto millionaires, they've already amassed what JJG refers to as 'fuck you money'. Most of the good ones may be relaxing upon Caribbean beaches, with foofoo umbrella drinks in hand.

Sure, Bitfinex had several opportunities already to employ an exchange exit scam -

For all we know, they have already executed two partial exit scams.

Well well well. I see the blocksize/scaling gridlock is STILL ongoing. Dash is now running 2MB blocks. needless to say, I'm rotating out of cripplecoin into the crypto more faithful to Satoshi's vision. Thanks for buying all those coins I bought for $12, suckers. I literally have so many hundred dollar bills in my pocket that I don't know how many there are. 

Well, look who the cat dragged in. Welcome, BJA. Good to hear you're doing well (though it seems to me to be a grave mistake to pivot out of Bitcoin - but whatever trips your trigger)

Now I'm into Dash.

Oh. My condolences.

[HairyMaclairy]

BCH $1638.   Tick, tick, tick

BCH $1580.  Tick, tick, tick.

[JayJuanGee]

Where's my Black Friday discount on BTC? This small 2% discount off ATH just isn't going to cut it. In fact, yesterday's dip wasn't even that big of a deal. I want a deep discount. Jimbo wants one too. I am sure.  

Maybe if I want a doorbuster, I'm going to have to go to Wal-Mart.  

https://www.youtube.com/watch?v=n_adgG8Ba2Q

I doubt that "Jimbo wants one too."  

There is a kind of mentality of  wanting or hoping for dips, or just preparing for dips.  Those are two different concepts.  If a dip comes, make lemonade out of the lemons.  You don't hope or want lemons, you merely take advantage of the lemons situation comes, which is nearly inevitable that lemons are going to come, from time to time.

Where's my Black Friday discount on BTC? This small 2% discount off ATH just isn't going to cut it. In fact, yesterday's dip wasn't even that big of a deal. I want a deep discount. Jimbo wants one too. I am sure.  

I'm disappointed too. difficulty change is getting closer, all this new bitfinex/tether and flippening FUD. It looked like something was brewing. even the mempool looks ok.

I absolutely hate Bitfinex and believe the "FUD" about spoofy and Tether.   However, Bitcoin does not need Bitfinex for it's own viability. There are plenty of other exchanges. I don't know why some of these twitter OG are coming to the defense of Bitfinex. I think the BTC economy will be a whole lot better without them. I don't even mind that they kicked us US customers to the curb.

Bitfinex FUD is FUD, as you seem to admit, and even though the crash Bitfinex would not kill bitcoin, I don't know why anyone would hope for such a crash.  

Sure, Bitfinex had several opportunities already to employ an exchange exit scam - and seems quite improbable that they are going to employ such, when it is not really necessary, in spite of the mucho bullshit FUD being spread about them.

Regarding, kicking out USA customers, I have mixed feelings about it, since I was personally affected and kicked out of their exchange - but I cannot really blame them for their exercising business discretion or to credit them with any kind of bad or malicious motive because of such business decision.

BFX lost a shitload of coins. I had no coins in my account. they stole %36 anyway to compensate the account holders who did have coins. So not only did they fail to safeguard the coins, but then they socialized the losses. this was years ago, but they NEVER PAID ME BACK. they are not a legitimate exchange. I am baffled that anyone can still take them seriously or do business with them.

Yes... August 2015 they were "hacked" and September 2015-ish they issued BFX coins for 36% of the dollar value of your then account, and by around April 1, 2016, they had paid back all of their BFX tokens at 100%.  Sure there were some problems with that whole set-up, but they paid back everyone who held their BFX tokens at 100% of face value over the next 7 months or so.