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

[Torque]

Yep, little buy or sell volume. Traders sitting on the sidelines for now. My guess is that US gov looming decision to avert shutdown has something to do with it.

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[adaseb]

Some of the comments are hilarious with what happened with Bitconnect

[jojo69]

Am I a bad person for finding mirth in the self inflicted misfortune of others?

[Torque]

First stage: Denial.

Second stage: Anger.

 

Am I a bad person for finding mirth in the self inflicted misfortune of others?

To be honest, I'm downright fkn irritated/annoyed with people who are passing over Bitcoin, the most awesome thing that is staring them in right in the face, for other shitcoins and scams.

So no, no sympathy, fk them.

[infofront]

Am I a bad person for finding mirth in the self inflicted misfortune of others?

I thought it was hilarious too, but I kind of feel bad. 

[JayJuanGee]

Compared to other threads on bitcointalk, reddit, twitter, facebook.

It seems everybody in this thread is chill and hodling.

Guess being an old adopter comes with its perks.

The problem is that the crypto kiddies don't really have any skin in the game to see things play out long term. If they put in $300 or even $1000 and they end up with 50% profit (say $1500), they cash out and go blow it on something stupid. Presumably because their mind tells them "Well I'll never get wealthy on $1500 anyway, might as well just spend it then." Meanwhile they continue to run up their credit cards and work hand-to-mouth, essentially forever.

This is the mindset of the forever poor. They can't conceive of how to turn that $1500 into $5k, then $20k, then $100k, and so on until they have some real wealth. This is why there aren't more millionaires running around in every country of the world. No long term vision, no patience, and no discipline. It can take a decade or two to build real wealth, which so many don't have the vision or patience for.

Lecture on, Torquester!!!!!!     

[HairyMaclairy]

http://finance.weissratings.com/crypto/

What do we make of this?

I’ve never heard of Weiss.

Weiss and his father performed independent financial analyses on banks for many years.  They were conservative in their appraisals, and by that I mean that didn't count squishy items like "goodwill" for very much.  They published their own "Weiss ratings" for thousands of banks.  You could check on any single bank you were interested in, or subscribe to their service.  They sold the business but I guess the son still speaks on behalf of the business.  It was a legit business so this interests me.

Thank you very helpful.  I will give some further thought to this as it is an element missing from the market to date.

[annam2017]

Bitcoin prices are being adjusted and will continue to increase this month. I expected 19,000-20,000 USD

[JayJuanGee]

Except all of this implies a buy at some sort of relative bottom. If 20k was top and your first buy is in high teens you might just sit and stare at your screen for the next two years.  A good strategy is to also set aside a specific dollar amount to buy into at regular dropping intervals.  So for example every 500-1k drop from 10k you buy x dollar amount.  If it keeps dropping you’ll keep accumulating more and more BTC.  On the way down take profit in BTC on the way up if we get past ATH take profit in fiat.

Certainly you can do both dollar cost averaging investing and also staggered selling and buying.

As jbreher already asserted, the staggered selling and buying presumes a decent likelihood of both volatility and an expectation for a long term upward price moves.

It seems like no matter what we can almost assume BTC volatility in both the short term and perhaps in the longer term - including likely presuming such until BTC goes above $100k, and even then, I am still expecting BTC to remain fairly volaltile.. perhaps some shocking BTC development or surpassing $1million per unit would cause less volatile bitcoin price dynamics?

[Torque]

http://finance.weissratings.com/crypto/

What do we make of this?

I’ve never heard of Weiss.

Weiss and his father performed independent financial analyses on banks for many years.  They were conservative in their appraisals, and by that I mean that didn't count squishy items like "goodwill" for very much.  They published their own "Weiss ratings" for thousands of banks.  You could check on any single bank you were interested in, or subscribe to their service.  They sold the business but I guess the son still speaks on behalf of the business.  It was a legit business so this interests me.

Thank you very helpful.  I will give some further thought to this as it is an element missing from the market to date.

Take with a grain of salt.

I'm sure as an investment their rating system will give Bitcoin a C- or D, everything else will get an F.

And the market analysts will say, "See? Told ya so." and pat themselves on the back.

[HairyMaclairy]

Am I a bad person for finding mirth in the self inflicted misfortune of others?

Deep down inside you are a bad person.  Superficially you are quite nice!


I think we can be compassionate, which is different from being sympathetic.

[AlexGR]

This ad is still running


( https://i.imgur.com/YsRfFG0.png )

Very promissing indeed... (instead of promising)... meaning your bitcoins will be missing after all is said and done...

[explorer]

  Before I get started on this process, I thought I'd ask here:

Does anyone familiar with a Ledger Nano S know if there is a way to sweep an old btc paper wallet to it by just scanning the QR?  I'm away from home and trying to help someone make that move and split off the clones.  I've used coinomi, but the btc amount is enough to give me pause;  the shitcoins we don't care, but it scares me to sweep xx btc to that sketchy wallet.  Don't want to set up another wallet.  Sweeping to an exchange is out due to withdrawal limits.

TIA

[European Central Bank]

 Before I get started on this process, I thought I'd ask here:

Does anyone familiar with a Ledger Nano S know if there is a way to sweep an old btc paper wallet to it by just scanning the QR?  I'm away from home and trying to help someone make that move and split off the clones.  I've used coinomi, but the btc amount is enough to give me pause;  the shitcoins we don't care, but it scares me to sweep xx btc to that sketchy wallet.  Don't want to set up another wallet.  Sweeping to an exchange is out due to withdrawal limits.

TIA

use the mycelium cold storage spending function.

get the ledger's address up in the app ready to roll. scan the paper wallet private key. scan the the ledger address. done.

[realr0ach]

For all of the buffoons who don't understand why Exter's pyramid means metals automatically defeat bitcoin and why bitcoin is inherently a slum lord scam that recreates the existing parasite financial structure:

Exter’s Pyramid is a theory by a former central banker. It’s not a proven hypothesis.

Of course it's proven.  All it is is a chart that shows where money goes when people shift out of risk assets to safety.  Lying conmen with 0 integrity like Sidhujag claim bitcoin is not only not a risk asset, it's the lowest risk asset possible.  The sheer audacity of this lie is beyond comprehension.  He should be put in front of a firing squad with the rest of the Jews for even attempting to pull off such a lie.  The Jews being very capable liars and deceivers wouldn't even attempt to pull off such a lie themselves because they know nobody would believe it, but that sure doesn't stop 0 integrity Sidhujag.

He then goes on to reference idiotic jibberish from company man Nick Szabo.  Newsflash:  since it's not possible to create a decentralized cryptocurrency and they're all designed to centralize, it means they're all just permissioned ledger, federated chains in pratice.  You know what else is a federated chain?  Paypal.  Just because they're Rube Goldberg machines that try to obfuscate what's going on doesn't mean they aren't the same thing.  It just takes a short time span for craptocurrency to arrive at that inevitable end.

Anyone with a pulse can tell proof of stake snowball centralizes through interest.  I've already explained to you people "proof of work" isn't actually "work", but the same thing - just collecting interest.  You put miners on auto-pilot, pull in the interest, then parlay the profit into...more miners to raise the vig higher like a typical slum lord trying to monopolize an apartment complex.  Or as you explained in Anonymint-speak:  "economy of scale begets more economy of scale".

Claiming any centralized, garbage cryptocurrency is somehow an off-risk asset or has better fundamentals than metals as the base of Exter's pyramid is like claiming Paypal is the base of Exter's Pyramid.  Only complete fucking morons or scammers could make such a claim.  Neither Paypal or any cryptocurrency remove middlemen or counterparty risk.  Worse still, we aren't talking about some type of benign middlemen, we're talking about built-in, usurious, rent seeking middlemen (transaction validators) in a parasitical relationship who want a cut of every transaction.  Only physical commodity currency like silver and gold remove the parasite middlemen.

[HairyMaclairy]

Bullshit claim process announced for Phase II United Bitcoin:  https://www.ub.com/news/detail?column=1&id=280

[jojo69]

So hey guys, I have not seen it mentioned, and I just noticed, GDAX finally opened up the BTC/BCH pair about 34 hours ago

[bitebits]

Maxwell resigned from Blockstream in November:
https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2018-January/015586.html

In order to spend more time working independently on deep protocol
work, especially new cryptographic privacy and security technology for
Bitcoin, I resigned from Blockstream last November. It took until the
end of December to wind down my involvement there.

[Dabs]

Hey guys, I started 2016 with almost nothing, just a little more than 2 digits. It went to single digits by end of 2016 or beginning of 2017. By middle of 2017 it went to double digits again. And bitcoin's price was rallying too. I took a month long vacation during summer, then went back to see my hodlings kinda doubled (in fiat value) but remained the same in bitcoin.

As Torque implied, I was probably one of those kids in 2012 who bought some bitcoins worth $1500, waited for it to double to $3000, then cashed out to buy toys or whatever. I repeated that performance in 2013 to 2014 with Litecoin (from $20 to $40, worth about another $1000).

The coulda shoulda woulda ... the 20/20 hindsight, we all should have just bought as soon as we discovered bitcoin and hodl'ed until either 2014 or 2017 (take your pic, you either did 1000% or 10000%)

Some of us did. A lot of us did not. Some got "roached" and I can clearly see the bitterness as I continue to not ignore him and read his posts (and again, they're all still wrong, he just loves his dead pyramid ,... pyramids do function as tombs for god-kings, but they're dead.)

Anyway, I missed the last 30 or 50 pages recently, was busy dabbling in alts again and watching my almost triple digits remain double digits ... but I didn't actually trade anything, I was just watching. A few of you did take me up on my offer, but the rest of your remain apathetic towards alts in general, vehemently violent against a few in particular.

While we don't understand some of them, it is interesting to note that their biggest supporters in this thread (and outside this thread) do have or revealed to have or had at least a thousand coins of BTC as well as BCH, so there is something to learn from them.

So, while I can't just yet retire on $4 million, maybe if I hodl long enough while living off the rest of my other crypto "earnings" or hodlings, some of you guys will be obscenely rich beyond imagination and I'll be content or happy with whatever I get, probably close to double digit millions, hopefully.

Still double digits BTC here ...

[lightfoot]

Bullshit claim process announced for Phase II United Bitcoin:  https://www.ub.com/news/detail?column=1&id=280

What is this crap?