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

[moneyForjam]

Elliott count
https://imgur.com/a/vu2Fp

What in the flying fuck is Elliot wave useful for in the least aggregate market on the planet?  You do know the market is entirely controlled by a single entity operating on Bitfinex since $200 right?  And that almost every volume short in bitcoin ever has been squeezed?  The second all chartists agree that X point is the perfect spot to short, they'll just print a billion tethers and squeeze you.  Or some random guy with 200,000 illiquid asset coins he can't even sell in the first place will use them as long collateral to squeeze you.

The moral of the story is:  don't participate in rigged markets (unless they're rigged to the downside, that's when you walk in and buy).  Almost every asset on earth is in a bubble right now.  The only asymmetric trade around that's been rigged to the downside is gold and silver - especially silver.

I understand your crushed bull soul is being devoured by the devil. Heres a tissue *passes a tissue*

Don't you cry tonight
I still love you baby
Don't you cry tonight
Don't you cry tonight
There's a (bull) heaven above you baby
And don't you cry tonight

[realr0ach]

Engage 1 minute candles !

I'm surprised there's a single person on the buy side after the IRS started sending out letters to Coinbase users telling them coins they bought for pennies require thousands of dollars in taxes on even if they used the coins to do something like buy a pizza before the price went up.  Blockchain is "the future" alright; the future of Orwellian digital prisons and being enslaved by the government.

[Anon136]

Engage 1 minute candles !

I'm surprised there's a single person on the buy side after the IRS started sending out letters to Coinbase users telling them coins they bought for pennies require thousands of dollars in taxes on even if they used the coins to do something like buy a pizza before the price went up.  Blockchain is "the future" alright; the future of being trapped in a digital prison and enslaved by the government.

Would you like to propose a better alternative or just grouse about?

[realr0ach]

Engage 1 minute candles !

I'm surprised there's a single person on the buy side after the IRS started sending out letters to Coinbase users telling them coins they bought for pennies require thousands of dollars in taxes on even if they used the coins to do something like buy a pizza before the price went up.  Blockchain is "the future" alright; the future of being trapped in a digital prison and enslaved by the government.

Would you like to propose a better alternative or just grouse about?

Be your own banker - physical silver.  No, you fucking assholes.  It's not possible to be your own banker with bitcoin because it has built-in usurious middlemen (transaction validators) and doesn't remove counterparty risk. It's 100% impossible to create a decentralized digital currency.  The transaction validators are always designed to centralize.  That's called a permissioned ledger and you trapped in a digital prison, not being your own bank.

[explorer]

Engage 1 minute candles !

I'm surprised there's a single person on the buy side after the IRS started sending out letters to Coinbase users telling them coins they bought for pennies require thousands of dollars in taxes on even if they used the coins to do something like buy a pizza before the price went up.  Blockchain is "the future" alright; the future of being trapped in a digital prison and enslaved by the government.

Would you like to propose a better alternative or just grouse about?

You should hire armed guards and bearers to wheel your silver around with you. 

Or do you take your silver to the jews for safe keeping?

I forget which one was better, 'casue both sucked.

[Dakustaking76]

What is happening guys?

Everyone is talking about gox??

Why are we going down?? This is hell not good..

[FractalUniverse]

time to buy some more

What is happening guys?
Why are we going down?? This is hell not good..

[HairyMaclairy]

What is happening guys?

Everyone is talking about gox??

Why are we going down?? This is hell not good..

How are you ever going to be rich if you don’t buy into the dip?  Just plan ahead so you still have firepower left if it keeps falling.

[Anon136]

Engage 1 minute candles !

I'm surprised there's a single person on the buy side after the IRS started sending out letters to Coinbase users telling them coins they bought for pennies require thousands of dollars in taxes on even if they used the coins to do something like buy a pizza before the price went up.  Blockchain is "the future" alright; the future of being trapped in a digital prison and enslaved by the government.

Would you like to propose a better alternative or just grouse about?

Be your own banker - physical silver.  No, you fucking assholes.  It's not possible to be your own banker with bitcoin because it has built-in usurious middlemen (transaction validators) and doesn't remove counterparty risk. It's 100% impossible to create a decentralized digital currency.  The transaction validators are always designed to centralize.  That's called a permissioned ledger and you trapped in a digital prison, not being your own bank.

Sure I love silver. You might say I'm a silver maximalist. All this crypto speculation is just to get more silver in the end. However several points. You can't push silver through an ethernet cable; You cant carry your silver over a border easily; The infrastructure has not yet been built out for simple silver authenticity validation; And asteroid mining will someday massively disrupt the precious metals sector.

Also it's a crypto ledger is a pretty piss poor permissioned ledger if transaction validators do not have any unseful information about the transactions they are validating. No ability to gain any information about transactions means no ability to discriminate between them means all rejection of permission would be arbitrary in nature. You could reject people at random but never for a particular reason intrinsic to how they are using the currency or what they are using it for.

[Dakustaking76]

What is happening guys?

Everyone is talking about gox??

Why are we going down?? This is hell not good..

How are you ever going to be rich if you don’t buy into the dip?  Just plan ahead so you still have firepower left if it keeps falling.

If i had the Damn money i would buy the dipssss corn Damn iT

But still No answer on the gox shit?

[Rosewater Foundation]

What is happening guys?

Everyone is talking about gox??

Why are we going down?? This is hell not good..

How are you ever going to be rich if you don’t buy into the dip?  Just plan ahead so you still have firepower left if it keeps falling.

You should probably stop giving advice. It's been bad

[becoin]

Why are we going down?? This is hell not good..

This is good. Whoever is selling, thank you for the cheap coins!

[HairyMaclairy]

Bitcoin go up Bitcoin go down.  Reasons don’t matter.

[HairyMaclairy]

What is happening guys?

Everyone is talking about gox??

Why are we going down?? This is hell not good..

How are you ever going to be rich if you don’t buy into the dip?  Just plan ahead so you still have firepower left if it keeps falling.

You should probably stop giving advice. It's been bad

It’s as good as free advice gets.  I’m telling people to start buying cautiously at 57% below ATH but hold back fiat to cover it going lower.   There’s nothing wrong with that.  

You will recall our conversation from two days ago when I said I had FOMOed back in at $6500 and $8500.  Well here are again.   I’m done buying at $6500 and $8500 but I will definitely be buying again sub$5k if we get there.

[Anon136]

Engage 1 minute candles !

I'm surprised there's a single person on the buy side after the IRS started sending out letters to Coinbase users telling them coins they bought for pennies require thousands of dollars in taxes on even if they used the coins to do something like buy a pizza before the price went up.  Blockchain is "the future" alright; the future of being trapped in a digital prison and enslaved by the government.

Would you like to propose a better alternative or just grouse about?

You should hire armed guards and bearers to wheel your silver around with you.  

Or do you take your silver to the jews for safe keeping?

I forget which one was better, 'casue both sucked.

You are missing that silver has one huge advantage over cryptos that makes it still important. It is non arbitrary. Cryptos are schemes that are hugely arbitrary in their implementation. Why is bitcoin better than litecoin? Why is it better than doge? Fundamentally it isn't. You might say something about it's brand or network. But monero is technologically superior and something will come that will be better than that. Cryptos will probably always be a tumultuous space as new better tech unseats the old over and over again. Wonderful for speculators, manageable for spenders, and terrible for savers. Silver on the other hand is sort of like money from god. It and gold of course. There are only a finite number of elements and the market settled on those two as the best monies, plain and simple, end of story. Silver doesn't get usurped by liteSilver which gets usurped by dogeSilver which gets usurped superUltraXXXSilverV. This is the sense in which I say that it is non arbitrary compared to value transfer protocol schemes and this is the sense in which it will retain its importance.

Also no need to leave it in the "safe keeping" of a jew. Plenty of nice goy out there who will look after it for you.

Do not mistake this for an indictment of Crypto-currencies. I LOVE cryptocurrencies. You know that though.

Also don't mistake it for a defense of the guy you were responding to. He is an idiot. I know this.

[HairyMaclairy]

Excluding the fact that no one really thinks about PMs anymore except old bearded preppers.

[realr0ach]

You should hire armed guards and bearers to wheel your silver around with you.  

You would think after the release of 1500 different craptocurrencies and seeing that every single one of them is completely centralized that some people would figure out it's not possible to create a decentralized digital currency, but no, people are that infinitely stupid.  We're not talking strike 1, 2, 3 here.  We're talking strike 1500.  Yes, some of those 1500 are clones, but if you had the brain power required to analyze what exactly can and can't be done to attempt to alleviate that problem, you would come to the conclusion that unprofitable PoW where everyone processes their own transactions, just like email PoW, would be the only possible way forward without completely centralizing.  

Unfortunately, unprofitable PoW is an unworkable system, so no way forward exists.

[Anon136]

Excluding the fact that no one really thinks about PMs anymore except old bearded preppers.

A good indication that it might be a good time to buy! The worse the sentiment the better the value.

[explorer]

Engage 1 minute candles !

I'm surprised there's a single person on the buy side after the IRS started sending out letters to Coinbase users telling them coins they bought for pennies require thousands of dollars in taxes on even if they used the coins to do something like buy a pizza before the price went up.  Blockchain is "the future" alright; the future of being trapped in a digital prison and enslaved by the government.

Would you like to propose a better alternative or just grouse about?

You should hire armed guards and bearers to wheel your silver around with you.  

Or do you take your silver to the jews for safe keeping?

I forget which one was better, 'casue both sucked.

You are missing that silver has one huge advantage over cryptos that makes it still important. It is non arbitrary. Cryptos are schemes that are hugely arbitrary in their implementation. Why is bitcoin better than litecoin? Why is it better than doge? Fundamentally it isn't. You might say something about it's brand or network. But monero is technologically superior and something will come that will be better than that. Cryptos will probably always be a tumultuous space as new better tech unseats the old over and over again. Wonderful for speculators, manageable for spenders, and terrible for savers. Silver on the other hand is sort of like money from god. It and gold of course. There are only a finite number of elements and the market settled on those two as the best monies, plain and simple, end of story. Silver doesn't get usurped by liteSilver which gets usurped by dogeSilver which gets usurped superUltraXXXSilverV. This is the sense in which I say that it is non arbitrary compared to value transfer protocol schemes and this is the sense in which it will retain its importance.

Do not mistake this for an indictment of Crypto-currencies. I LOVE cryptocurrencies. You know that though.

Of course.  Every person of sense has some metals.  I don't have half a billion worth in my desk drawer, however.  Silver, gold, lead, copper, brass.  It's always a good idea to have them at hand.  And I've got more of it thanks to cryptos.

[HairyMaclairy]

Excluding the fact that no one really thinks about PMs anymore except old bearded preppers.

A good indication that it might be a good time to buy! The worse the sentiment the better the value.

Tell it to TRON bag holders.