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

[Lowryy]

I can see it now. Somewhere in the desert is a gathering of bitcoin HODLers, their cars around a huge bonfire in a circle, like petals on a daisy.

Would they be VW Rabbits, or Lambos....

Hm.

(They should be Ferraris. Much more impressive car than the Lambo)

The problem when buying a ferrari is that the only color choice allowed is red.

And for the past 9 months....I've seen too much red....especially on my monitor.

[yefi]

Then we'll start again and learn from our mistakes.  What's a good exit point this time?



original image by Victor Carapcea
https://www.facebook.com/karafoto.ro/

I'm liking the room in the trunk. If the boot open up easy, I could fit a lot of my junk in there.

(No double entendres here...)

[markj113]

(They should be Ferraris. Much more impressive car than the Lambo)

Unless it is a Huracan Performante or Aventador SVJ that has just taken the nurburgring record, balls of steel:
https://www.youtube.com/watch?v=QRsq35Et-EY&t=6s

I bought a Lambo and I am not in the Bcash camp

[horse_white]

Yep.

If there were 1818 so called "precious metals" in the world, investors/savers would all gravitate to Gold and regard all the rest simply as "fool's gold".

I guess that will happen eventually.

Silver and a few other metals are used as stores of value, plus there are numerous other commodies and collectables etc which perform this function to a limited extent. There could be quite a number of Cryptos that survive long term (but not anywhere near 1818). In the meantime we are in an evolutionary lifeform/species explosion, which is needed to give natural selection a large choice for the eventual extinction.

Lots of fools gold around but no one pays it any attention. Just like all of these altcoins, people notice that the other "commodities" have very limited intrinsic value and don't bother to put much money into them. They do need to exist, however, just to set Bitcoin apart from all the others.

I would argue that it is more of a store of wealth these days than an actual currency. And it may be the best way to store value than all the others.

No-one (except those living off their stash) dips into their stash for the weekly groceries do they?

I wouldn't be calling it a currency either, until we can actually buy out milk with it. That won't be happening soon either, so it's a store of wealth for the time being. Ideally we could use it as a currency but it's not practical yet. One day...

[Rosewater Foundation]

[xhomerx10]

(They should be Ferraris. Much more impressive car than the Lambo)

Unless it is a Huracan Performante or Aventador SVJ that has just taken the nurburgring record, balls of steel:
https://www.youtube.com/watch?v=QRsq35Et-EY&t=6s

I bought a Lambo and I am not in the Bcash camp

 Come on man!  It hasn't even moved since that last time you showed us.  You're still paying for it, aren't you!

edit: <---  see what I mean?



 edit2:  I just realized I'm more jealous of your garage.  Nice!

[markj113]

Come on man!  It hasn't even moved since that last time you showed us.  You're still paying for it, aren't you!

We have actually had the best summer in the UK since 1976, clocked up lots of miles and got some track days in too

Really did pay for it in full with BTC profit, A bit of luck with timing and a few select altcoins + BTC and it can be life changing!

Dont lose faith with the current price drops.

[Gyrsur]

(They should be Ferraris. Much more impressive car than the Lambo)

Unless it is a Huracan Performante or Aventador SVJ that has just taken the nurburgring record, balls of steel:
https://www.youtube.com/watch?v=QRsq35Et-EY&t=6s

I bought a Lambo and I am not in the Bcash camp

 Come on man!  It hasn't even moved since that last time you showed us.  You're still paying for it, aren't you!

edit: <---  see what I mean?



 edit2:  I just realized I'm more jealous of your garage.  Nice!

EDIT: https://lambo2btc.com

[markj113]

Nicer doors than mine and must be a V12 lol.

V10 lambo doors open outwards, V12 Lambo doors open up.

[jojo69]

please return to your seats and fasten your seat belts, we have some weather up ahead

[lightfoot]

The problem when buying a ferrari is that the only color choice allowed is red.

And for the past 9 months....I've seen too much red....especially on my monitor.

Indeed. They need to make a green one. However they do have black....

[Elwar]

I've often wondered what the hodlers use to purchase these luxury cars?  If you're hodlin, wouldn't you still be driving a 1998 Ford Crown Vic P71?!  I must be doing it wrong.  Perhaps they are leveraging their ruggedly-handsome, good looks?

I just bought a Renault Twingo for less than 1 BTC. 2012...newest car I've ever owned.

[gentlemand]

Indeed. They need to make a green one. However they do have black....

Get with the plan.

[jonoiv]

I've often wondered what the hodlers use to purchase these luxury cars?  If you're hodlin, wouldn't you still be driving a 1998 Ford Crown Vic P71?!  I must be doing it wrong.  Perhaps they are leveraging their ruggedly-handsome, good looks?

I just bought a Renault Twingo for less than 1 BTC. 2012...newest car I've ever owned.

If  Insufficiently endowed bitcoiners buy lamborghinis, that means you're this guy!

[lightfoot]

Nicer doors than mine and must be a V12 lol.

V10 lambo doors open outwards, V12 Lambo doors open up.

Hm. The Hurrican I was testing out had the doors opening outwards, but checking I see it is merely a V10. No wonder it was such a slug on the track.....

Thanks for the bit of knowledge. Diablo or bust for me I guess.

[Elwar]

I agree with the capitulation thing. The last down cycle we sat near $200-$300 for nearly a year. I figure that shook out a lot of people from 2013 that were just waiting for it to "go back up so they could sell.

I held all the way through 2010 to 2012 only to cave at the end of 2012 as it was starting to come back up. As a n00b those were some tough times. But I believed in Bitcoin. Most people who got in last year are about as Bitcoin savvy as the people in Vegas at the Evolve conference.

[mymenace]

I agree with the capitulation thing. The last down cycle we sat near $200-$300 for nearly a year. I figure that shook out a lot of people from 2013 that were just waiting for it to "go back up so they could sell.

I held all the way through 2010 to 2012 only to cave at the end of 2012 as it was starting to come back up. As a n00b those were some tough times. But I believed in Bitcoin. Most people who got in last year are about as Bitcoin savvy as the people in Vegas at the Evolve conference.

I got in 2012
Watched how to diversify
Watched each exchange go down
Watched every trollfest
Watched all the laughing

Now I have something else I need to protect and those coins are required

[markj113]

Hm. The Hurrican I was testing out had the doors opening outwards, but checking I see it is merely a V10. No wonder it was such a slug on the track.....

Thanks for the bit of knowledge. Diablo or bust for me I guess.

The huracan does 0-60 between 2.8 to 3.3 seconds depending on model, not exactly slow.  The performante is a track monster.  

Did you have it Corsa mode or did they put it in soft auto Strada mode?

Any huracan would kill a diablo around a track, Aventador is the current flagship V12 after the murcielago (not taking into account the specials like the centenario)

[Majormax]

I agree with the capitulation thing. The last down cycle we sat near $200-$300 for nearly a year. I figure that shook out a lot of people from 2013 that were just waiting for it to "go back up so they could sell.

I held all the way through 2010 to 2012 only to cave at the end of 2012 as it was starting to come back up. As a n00b those were some tough times. But I believed in Bitcoin. Most people who got in last year are about as Bitcoin savvy as the people in Vegas at the Evolve conference.

Same as a lot of ppl, maybe you were afraid of losing the bit that was left.

That was a valuable lesson. Vastly more ppl will learn that lesson in the coming year IMO. When only the die hards are left (they don't care how low the price goes) then the new uptrend can slowly begin.

BTC going to $2k ?  doesn't matter.  $1k ? feel the same. It's just a number, and the price will go wherever it needs to go.

[HairyMaclairy]

There have been a distinct lack of “Bitcoin is dead” headlines in the newspapers.   Maybe I am missing them but I am not seeing them.

On Monero, ironically I have been called a Monero shill in this thread if you go back far enough.  I think it is the second best crypto currency now that it is becoming apparent that Vitalik has lost his way.  He is becoming increasingly desperate to solve the scaling problem he has created, which was entirely predictable and was in fact predicted.   Exhibit one is his claim of a consensus mechanism that only requires 1% of nodes to be honest:   https://www.trustnodes.com/2018/08/10/vitalik-buterin-proposes-consensus-algorithm-requires-1-honest

However we need to be wary of anyone that claims to be fixing Bitcoin’s mistakes. Bitcoin is a finely balanced construct and if you take away any of the qualities, you disrupt the balance.

I think Monero’s tail emissions were a major error in judgement.  Yes I know they are only 0.6 XMR per block but they are permanent inflation.  Yes I know they are supposed to be fixing “Bitcoin’s mistake” by providing long term income for miners. But by doing so, Monero forgot one of the tenets of a ‘store of value’.  Which is you don’t allow your store of value to be continually chipped away at by inflation.  We should be extremely wary of anyone claiming to fix Bitcoin’s mistakes.

*Vitalik claimed he was fixing Bitcoin’s mistakes by enabling a Turing complete blockchain.
*Roger Ver claimed he was fixing Bitcoin’s mistakes by increasing the block size.  
*Accenture says that Bitcoin’s mistake was an immutable record:  https://www.nytimes.com/2016/09/10/business/dealbook/downside-of-virtual-currencies-a-ledger-that-cant-be-corrected.html

So I think Monero is great.  It is the cryptocurrency “most likely to succeed” in the event that Bitcoin fails, particularly if that failure mode is a global government ban.  But Monero proponents would do well not to claim they have fixed Bitcoin’s problems, because there isn’t a good track record for people who have claimed that.