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

[JayJuanGee]

This constant downward compression we've had since 1/17 really feels like an attempt to wring out every last bit of weak hands.

Mission accomplished?

I would think , they that really cannot handle the pressure are out off most of there money is out for the rest more and more starting too know how the market works or trying to believe “ i know iT Will go up because iT allways do” offcourse Many of them bought in lately or even @ +12-13-14k.... and Just really don’t know what BTC is or the market or anything but Just got in by friends like i have with a few of my friends .... and they Just want to act strong “i know it Will go up again” but meanwhile sending textmessages like whats happening you know something... blabla i Just say keep hodling..... they say offcourse price Will go up for sure.... then i ask Why do you think that?? And again they say because iT allways does while they really don’t know anything about iT , but for these peoples that or still here and even losing money now i think they Will stay on BTC because they seen friends making money and want the same thing and are losing know and Just think WTF there’s No way back anymore ( offcourse those friends like these are smaller investors trying to get rich ).  But for what its word i think the really weak and scared should been out most of them not??

I see this too. Even in myself as I am also a "late investor".  I started watching and learning about bitcoin early 2017 then finally started buying in mid 2017.  That being said, I am a believer and a hodler now. I continue to learn and read up but, still consider myself a noobie. I think there are lots of others just like me. I think the believer and hodler foundation of bitcoin was greatly added to in 2017.

My sister has been a little bit irritating in regard to these hesitancies about bitcoin (buydl, hodl or sedl).  I told her and her husband about BTC in late 2014 at around $385, and I sent an initial $10 in BTC - through Circle.  They were naysaying me for more than a year while proclaiming that their $10 was worth less than $10, and then a bit more than a year later(in early 2016), I sent them another $30 in BTC when the price was around $420.  

They continued to naysay or go in a form of radio silence, and may have even sold most of that initial $40 before the prices went above $1k... which would have been around late 2016.  Remember some of the Circle going out of the buy/sell business, and stating all or nothing to customers to withdraw their BTC or to cash out... I think that they cashed out.. for easiness.

Anyhow,  she and her husband bought around .5BTC in the $3,500 arena, which would have been August/September without saying anything to me until the price was in the $15k territory - maybe late December, and I think when the price was coming down from $19k, rather than when it was on the way up.  At some point, my sister said that they were planning to buy another .5BTC "when the price goes below $10k".. but the price has gone below $10k at least 3 times in the past couple of weeks, and they have been hemming and hawing regarding reasons NOT to buy and even spout out various bearish mainstream media talking points, as if the mainstream media were the experts on bitcoin price dynamics and valuation merely because a bunch of them are saying the same things.

O.k whatever, I can only hold their hands for so long and to attempt to demonstrate how much misinformation is out there about bitcoin, including asserting that a lot of the same talking points have been made for more than the past two years, but BTC prices went up in spite of the supposed experts calling bubble since $250  - go figure.

I remember when I was taking online chess lessons in 2016 from a Serbian chess master - prices were super cheap because Serbia, but Paypal didn't work.. also because Serbia. He would only accept Bitcoin.

My parents were extremely skeptical of the whole Bitcoin thing, but I ended up getting like $100 in BTC back then for lessons.

I started investing the little $ I had in BTC on Coinbase, and asked my parents for a loan, which they refused.

I kept asking them again and again, after doing more research, since I thought it would be obvious to anyone that Bitcoin would be a big deal in the future, but they refused.

As Bitcoin hit $1000, and kept going up and up, they were still skeptical, even up to until it hit $10k in like November or around then.

However, a week or so before the China ban, they gave me $6000 to invest in crypto, which dropped me quite a bit, and they were calling it "the end for Bitcoin" since China banned it.

Of course, we know what happened, and I made a great deal of money from it - much more than any college kid working full-time slavery to pay the bills.

The funny thing is that when Bitcoin hit ~14k on the way up, THAT'S when they FINALLY decided to invest a large amount of money into it - like $50k in total, which is a sizeable portion of their overall investment portfolio.

Of course, everything just went down after some excitement, but my parents aren't worried at all, because now they finally think that Bitcoin and other top cryptos will prosper in 2018, when things recover. They are even buying more at the dips.

Of course, I also believe in the imminent recovery and 25k+ target for the next wave.

I just find it funny how human psychology works...

Actually, your parents seem a bit more reasonable than my sister (except perhaps you maybe had to pull too many teeth before they finally saw the light).  Hopefully they can figure out an ongoing reasonable plan that is tailored to their financial situation, views and timeline from here on out.

[1714212149]

1714212149

[1714212149]

1714212149

[User705]

...

I remember when I was taking online chess lessons in 2016 from a Serbian chess master - prices were super cheap because Serbia, but Paypal didn't work.. also because Serbia. He would only accept Bitcoin.

My parents were extremely skeptical of the whole Bitcoin thing, but I ended up getting like $100 in BTC back then for lessons.

I started investing the little $ I had in BTC on Coinbase, and asked my parents for a loan, which they refused.

I kept asking them again and again, after doing more research, since I thought it would be obvious to anyone that Bitcoin would be a big deal in the future, but they refused.

As Bitcoin hit $1000, and kept going up and up, they were still skeptical, even up to until it hit $10k in like November or around then.

However, a week or so before the China ban, they gave me $6000 to invest in crypto, which dropped me quite a bit, and they were calling it "the end for Bitcoin" since China banned it.

Of course, we know what happened, and I made a great deal of money from it - much more than any college kid working full-time slavery to pay the bills.

The funny thing is that when Bitcoin hit ~14k on the way up, THAT'S when they FINALLY decided to invest a large amount of money into it - like $50k in total, which is a sizeable portion of their overall investment portfolio.

Of course, everything just went down after some excitement, but my parents aren't worried at all, because now they finally think that Bitcoin and other top cryptos will prosper in 2018, when things recover. They are even buying more at the dips.

Of course, I also believe in the imminent recovery and 25k+ target for the next wave.

I just find it funny how human psychology works...

Literraly the riskiest way to do it.  Why not average into it?  You’re going to have an interesting conversation with your parents if it drops to low single Ks.

[JayJuanGee]

Do I need to attempt to find humour in your gratuitous digs at ad hominem attacks?  

You and your ability to come to a conclusion that everything is a personal attack against you....seems like another pot-kettle argument.
Why don't you stop being so emotionally attached to anything I post?

Oh my!!!!  We could peruse some posting history to come to more a reasonable assessment of the situation, but who has time for that fucking shit?

Get a grip, PoolMinor... Get a grip.          

The answer is, You!



What did I win?!

Well, if you understand implication and context, the question is largely rhetorical, because of course the asker of the question (me) is already suggesting through the tone and word choices that he does not have such time for such triviality and seeming irrelevance, so the seemingly most appropriate answer would be "no one has time for that kind of trivial irrelevant shit." 

But, of course, some posters or readers of this thread might find time for that kind of trivial and non-relevant shit, and pretty slim chances to be me... 

[El duderino_]

This constant downward compression we've had since 1/17 really feels like an attempt to wring out every last bit of weak hands.

Mission accomplished?

I would think , they that really cannot handle the pressure are out off most of there money is out for the rest more and more starting too know how the market works or trying to believe “ i know iT Will go up because iT allways do” offcourse Many of them bought in lately or even @ +12-13-14k.... and Just really don’t know what BTC is or the market or anything but Just got in by friends like i have with a few of my friends .... and they Just want to act strong “i know it Will go up again” but meanwhile sending textmessages like whats happening you know something... blabla i Just say keep hodling..... they say offcourse price Will go up for sure.... then i ask Why do you think that?? And again they say because iT allways does while they really don’t know anything about iT , but for these peoples that or still here and even losing money now i think they Will stay on BTC because they seen friends making money and want the same thing and are losing know and Just think WTF there’s No way back anymore ( offcourse those friends like these are smaller investors trying to get rich ).  But for what its word i think the really weak and scared should been out most of them not??

I see this too. Even in myself as I am also a "late investor".  I started watching and learning about bitcoin early 2017 then finally started buying in mid 2017.  That being said, I am a believer and a hodler now. I continue to learn and read up but, still consider myself a noobie. I think there are lots of others just like me. I think the believer and hodler foundation of bitcoin was greatly added to in 2017.

My sister has been a little bit irritating in regard to these hesitancies about bitcoin (buydl, hodl or sedl).  I told her and her husband about BTC in late 2014 at around $385, and I sent an initial $10 in BTC - through Circle.  They were naysaying me for more than a year while proclaiming that their $10 was worth less than $10, and then a bit more than a year later(in early 2016), I sent them another $30 in BTC when the price was around $420.  

They continued to naysay or go in a form of radio silence, and may have even sold most of that initial $40 before the prices went above $1k... which would have been around late 2016.  Remember some of the Circle going out of the buy/sell business, and stating all or nothing to customers to withdraw their BTC or to cash out... I think that they cashed out.. for easiness.

Anyhow,  she and her husband bought around .5BTC in the $3,500 arena, which would have been August/September without saying anything to me until the price was in the $15k territory - maybe late December, and I think when the price was coming down from $19k, rather than when it was on the way up.  At some point, my sister said that they were planning to buy another .5BTC "when the price goes below $10k".. but the price has gone below $10k at least 3 times in the past couple of weeks, and they have been hemming and hawing regarding reasons NOT to buy and even spout out various bearish mainstream media talking points, as if the mainstream media were the experts on bitcoin price dynamics and valuation merely because a bunch of them are saying the same things.

O.k whatever, I can only hold their hands for so long and to attempt to demonstrate how much misinformation is out there about bitcoin, including asserting that a lot of the same talking points have been made for more than the past two years, but BTC prices went up in spite of the supposed experts calling bubble since $250  - go figure.

Offcourse what allways Will be is that Many people Will Just not get it or Just Will not understand a good strategy When it comes to bitcoin and offcourse too Many Will allways believe what they read No matter how Many times its been written before i also see Many examples .... my Own father is one of the best still he’s like do i need to sell China or Korea is banning blabla... or they say price Will go down very hard and not recover because of.... @ my family i have my hands full with letting them not sell any coins

[Enjel]

...

I remember when I was taking online chess lessons in 2016 from a Serbian chess master - prices were super cheap because Serbia, but Paypal didn't work.. also because Serbia. He would only accept Bitcoin.

My parents were extremely skeptical of the whole Bitcoin thing, but I ended up getting like $100 in BTC back then for lessons.

I started investing the little $ I had in BTC on Coinbase, and asked my parents for a loan, which they refused.

I kept asking them again and again, after doing more research, since I thought it would be obvious to anyone that Bitcoin would be a big deal in the future, but they refused.

As Bitcoin hit $1000, and kept going up and up, they were still skeptical, even up to until it hit $10k in like November or around then.

However, a week or so before the China ban, they gave me $6000 to invest in crypto, which dropped me quite a bit, and they were calling it "the end for Bitcoin" since China banned it.

Of course, we know what happened, and I made a great deal of money from it - much more than any college kid working full-time slavery to pay the bills.

The funny thing is that when Bitcoin hit ~14k on the way up, THAT'S when they FINALLY decided to invest a large amount of money into it - like $50k in total, which is a sizeable portion of their overall investment portfolio.

Of course, everything just went down after some excitement, but my parents aren't worried at all, because now they finally think that Bitcoin and other top cryptos will prosper in 2018, when things recover. They are even buying more at the dips.

Of course, I also believe in the imminent recovery and 25k+ target for the next wave.

I just find it funny how human psychology works...

Literraly the riskiest way to do it.  Why not average into it?  You’re going to have an interesting conversation with your parents if it drops to low single Ks.

I mean, after they gave me the 6k, I was content, since I felt that was a reasonable amount for someone like me to use for such a promising investment.

I had no idea that they just woke up one day and decided to invest 50k over a week. But yeah, quite risky.

[El duderino_]

This constant downward compression we've had since 1/17 really feels like an attempt to wring out every last bit of weak hands.

Mission accomplished?

I would think , they that really cannot handle the pressure are out off most of there money is out for the rest more and more starting too know how the market works or trying to believe “ i know iT Will go up because iT allways do” offcourse Many of them bought in lately or even @ +12-13-14k.... and Just really don’t know what BTC is or the market or anything but Just got in by friends like i have with a few of my friends .... and they Just want to act strong “i know it Will go up again” but meanwhile sending textmessages like whats happening you know something... blabla i Just say keep hodling..... they say offcourse price Will go up for sure.... then i ask Why do you think that?? And again they say because iT allways does while they really don’t know anything about iT , but for these peoples that or still here and even losing money now i think they Will stay on BTC because they seen friends making money and want the same thing and are losing know and Just think WTF there’s No way back anymore ( offcourse those friends like these are smaller investors trying to get rich ).  But for what its word i think the really weak and scared should been out most of them not??

I see this too. Even in myself as I am also a "late investor".  I started watching and learning about bitcoin early 2017 then finally started buying in mid 2017.  That being said, I am a believer and a hodler now. I continue to learn and read up but, still consider myself a noobie. I think there are lots of others just like me. I think the believer and hodler foundation of bitcoin was greatly added to in 2017.

I think same that more and more believers and hodlers are adding the BTC community.... i’m Just very lucky on the way i Got in.... i’m Bit of a poker player and i had Some winnings payed in BTC the Guy that payed me is a very early BTC adopter and very bullish Guy understanding the technical very good having a business in cryptoworld and everything.... So i know for sure if i didn’t win that time @poker i would’t not beeing in BTC .... So i thank Him very much he’s also becomed one of my better friends ... helling me a lot with crypto learning me every day more and more ... helping me allways don’t looke at the price Just buy and hodl

[Arriemoller]

Buckle up

-snip-

No shill quotes please..

And even if you were not quoting that sociopath's rag..so what?  How is this good news?  Some local court ruling that bitcoin has value. Surprise..

I wonder what great significance this piece of news might have. Is there any need for a Korean court to rule bitcoin has economic value and can be confiscated, so the proceeds go to finance state budget?

The Feds confiscated and sold Ulbricht's Silk Road coin and happily auctioned them without all that fuss.

I don't get it, the guy posts a bullish news article at a time when there is very little good news surrounding bitcoin (mostly just FUD) and you shit all over him? Who gives a shit if it's on that website? I doubt roger himself wrote the article (hint: he didn't). What's the guy shilling, Korean news? Lol.

How many governments have officially come out and said that bitcoin is recognized as having actual, real world value - not banning crypto currencies, or saying crypto is only used by criminals, etc. - especially in one of the biggest crypto markets in the world?

Did you guys lackadaisically brush off when Japan made BTC a legal currency? Or when Overstock.com said they were going to accept BTC, were you guys like, "whoopdi fuckin' doo, we all know it's got value, congrats company for figuring out what we already know"? No, we were all happy it was being adopted by a well known company where we could buy real things with our bitcoin.

Totally agree with you. 1 sMerit sent

[jojo69]

helping me allways don’t looke at the price Just buy and hodl

amen

[Arriemoller]

Is this going to be a good alternative to Tether?

https://cointelegraph.com/news/uks-royal-mint-launches-gold-backed-cryptocurrency
snipped
In the short term we need a safe haven from Crypto, having a gold backed currency would be better than a fiat backed currency.
Any backed currency requires a trusted party and having a permissioned block chain is irrelevant as you need to trust 100% the people who are storing the backing.

I think a gold backed currency from the UK Royal Mint is going to be more trust worthy than Tether.
I'm not suggesting this is as a replacement for Bitcoin or other Crypto currencys, but it is a mechanism for holding stable value loosely pegged to fiat.

Please, less of the 'we'.
I'm just against any of it, on principle.

Gold is an excellent store of value. I read somewhere that a cow in ancient Rome, medieval Europe and today cost the same in gold.
A gold pegged crypto listed on the exchanges would be perfect for parking money while chasing pumps in the alts market.

[bitserve]

Is this going to be a good alternative to Tether?

https://cointelegraph.com/news/uks-royal-mint-launches-gold-backed-cryptocurrency
snipped
In the short term we need a safe haven from Crypto, having a gold backed currency would be better than a fiat backed currency.
Any backed currency requires a trusted party and having a permissioned block chain is irrelevant as you need to trust 100% the people who are storing the backing.

I think a gold backed currency from the UK Royal Mint is going to be more trust worthy than Tether.
I'm not suggesting this is as a replacement for Bitcoin or other Crypto currencys, but it is a mechanism for holding stable value loosely pegged to fiat.

Please, less of the 'we'.
I'm just against any of it, on principle.

Gold is an excellent store of value. I read somewhere that a cow in ancient Rome, medieval Europe and today cost the same in gold.
A gold pegged crypto listed on the exchanges would be perfect for parking money while chasing pumps in the alts market.

I would gladly hold some gold-pegged crypto as a hedge. Nice addition to a diversified portfolio but only if It is really pegged and completely safe, trusted and guaranteed. Otherwise holding gold would be a wiser choice considering you don't look for ROI there but safety and stability.

Also, I wonder how they could do a perfect stable peg... If some entity is to store the physical gold for the peg... wouldn't it need to charge some storage costs + profit? How much would that be?

Unless they go full fractional.... and then we are talking about something completely different to really (virtually) holding gold.

[jojo69]

Gold is an excellent store of value. I read somewhere that a cow in ancient Rome, medieval Europe and today cost the same in gold.
A gold pegged crypto listed on the exchanges would be perfect for parking money while chasing pumps in the alts market.

in theory it sounds great

in reality they will be unbacked goldtethers...just like the current paper gold market...no thanks

[Arriemoller]

Gold is an excellent store of value. I read somewhere that a cow in ancient Rome, medieval Europe and today cost the same in gold.
A gold pegged crypto listed on the exchanges would be perfect for parking money while chasing pumps in the alts market.

in theory it sounds great

in reality they will be unbacked goldtethers...just like the current paper gold market...no thanks

How do you know that, A link to your source perhaps.

[jojo69]

How do you know that

because trusting someone to hold your gold is pretty much exactly like trusting them to hold your private keys

[Arriemoller]

So, you just pull a statement from your ass and present it as a fact, what a surprise.

[jojo69]

fine

invest in your "fully backed"  non tungsten, non rehypothecated gold crypto, knock yourself out

I choose trustless investments

[Arriemoller]

A more humble person would have presented that as an opinion, not a fact.

Writing for example, "in my opinion they will be unbacked goldtethers...just like the current paper gold market...no thanks"

Or "I believe that in reality they will be unbacked goldtethers...just like the current paper gold market...no thanks"

[jojo69]

Fair enough, though I do hold the probability for there to be shenanigans in, pretty much any, custodial precious metals arrangement to be very near metaphysical certitude.

[PoolMinor]

What did I win?!

2 Merits and 1 sMerit

[Arriemoller]

Fair enough, though I do hold the probability for there to be shenanigans in, pretty much any, custodial precious metals arrangement to be very near metaphysical certitude.

Well, I don't disagree with you on that. But you never know for sure, and hope springs eternal.

[jojo69]

Would be nice, wouldn't it?