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

[JayJuanGee]

I am watching a tutorial to make a rope knot ... 

Well, I told ya not to sell your precious bitcoins for Bitmain Cash and other shitcoins!

i think not really much BTC hodlers actually SOLD BTC for BCH ..... maybe hodl the free shit
i'm happy unloaded ALL of that shit for BTC

I must thank Bcash (aka free shit, as you say) for inspiring me to play around with both the Nano S and the Trezor, and I like the Trezor better.  Also, I learned some other bits about transferring coins and all of that mumbo jumbo baloney, but also got me to be a bit more aware of wallet options in holding coins off of exchanges.

Once I got access to my BCH, I cashed out most of it right away, mostly by setting up sell orders, but from time to time I did some market sales, too.. specially when stupid-ass coinbase distributed me my bcash.. .based on the then shenanigans, I felt it necessary to market sale those babies - even though it cost a bit of extra dough to market sell on coinbase - versus free limited sales that were not really working too well with their seemingly purposeful obstructionism - and shady dealings.

I still hold about 1% of my total Bcash, and I don't give that much of a shit about whether I make anything off of it, or if those coins go to zero... BTC goes up and down 10% in a day, frequently,,.. which pretty much makes the bcash crap appear as a kind of rounding error.

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[JayJuanGee]

That is dumb.

Why the fuck is bitcoin being portrayed as equivalent to three other cyptos...   Too misleading, of a pic, in my opinion.

[nanobtc]

I also got a Nano S at the fork. Just recently got a Coinkite Coldcard, it seems much more sophisticated. It can operate it's whole lifetime offline. It has a micro SD slot, you can power up the Coldcard with just an AC USB charger, and sign transactions  (although recent versions of Electrum support it natively). It has a $5 wrench secondary wallet, as well as a 'burnme' PIN.

[RoomBot]

I also got a Nano S at the fork. Just recently got a Coinkite Coldcard, it seems much more sophisticated. It can operate it's whole lifetime offline. It has a micro SD slot, you can power up the Coldcard with just an AC USB charger, and sign transactions  (although recent versions of Electrum support it natively). It has a $5 wrench secondary wallet, as well as a 'burnme' PIN.

That is so cool that I don't understand half of it!  I do like my Trezor, though. Got mine with dumped BCash too, LOL.

[JayJuanGee]

ETH is still leading the loss-pack. The pain is increasing.

Indeed... feels weird tho... Let's c next week where we are at... Really Really interesting week ahead of us... 

Yes.. let's see next week, but we are also seeing what is happening this week, and it is an ongoing dump in process that could end up in a kind of dramatic capitulation that brings the product to 2 digits (not sure if it will stay there, though?). 

Originally, about 4 years ago, I had thought ETH had a value in the less than $10 range, sustainably.  Of course, I was proven wrong, and the building of a large number of ICOs and various shit products upon ETH has shown that it has some value - including the value to raise capital from individual investors (if you can label 14 year old snot noses as "investors?).

I would love to c the 3-4k levels... will be like a HUGE BTFD Last time opportunity..... BTC + LN + Schnorr <<<<<----- BOOM..!!!!!!!!!!!!

I have a difficult time measuring, and even making some kind of guess, because as you likely recognize, we will experience breaking upon breaking of support levels that cause further down support levels to get broken.  So far, it seems that those support levels have been getting broken in various alt coins a lot more than in bitcoin, and in that regard, I thought that you were implying some kind of ETH capitulation that could occur next week, and that is why I asked why we would need to wait until next week to see such capitulation in ETH and perhaps in some of the other alts - even though ETH seems to be leading such further and further support level breakenings - which does not necessarily follow that bitcoin is going to transverse to any kind of similar extremes.. maybe you would be lucky to buy below $5k and even that may be a bit too high of a bitcoin price downfall expectation.. perhaps buy some BTC at $5,300 rather than waiting for anywhere in the $3k to $4k levels... o.k?

[RoomBot]

But it's not going lower than $5,900 EVER again!!!!!11111

#Bullish

[JayJuanGee]

I am watching a tutorial to make a rope knot ...  

Well, I told ya not to sell your precious bitcoins for Bitmain Cash and other shitcoins!

i think not really much BTC hodlers actually SOLD BTC for BCH ..... maybe hodl the free shit
i'm happy unloaded ALL of that shit for BTC

BCH was a coin that was created in what I like to call "bad faith". I stripped my wallets of it and turned it into btc.

Now that I think about it, ETH was also a bad faith coin, I have a bit of ETC because I believed in an immutable chain, not what ETH became....

This man invested in bad faith coins. And paid the price. Pity him. Learn from him.

I did a google image search, and I found this article.

https://money.cnn.com/2018/09/11/investing/bitcoin-crash-victim/index.html

I am thinking How fucking stupid can you be?  but then, I suppose that there are quite a few folks who bought at the top, and then made a bad situation worse by gambling.  He would not be doing so bad, right now, if he had kept his focus on Bitcoin rather than getting distracted by shitcoins...   Hard to recover, when your principle is only worth about 4% of what you started with?

I am not sure how much to pity such a crazy-ass gambling case, as described in the article.

For example, with myself, I bought into bitcoin towards the height of the late 2013 BTC price peak with my first 1.24BTC for $1,500, which is about $1,200 per coin to start with.  But during the initial price fall through 2014, I kept with bitcoin and kept buying BTC incrementally, so the average price of my BTC holdings was about $520, and the price of bitcoin was about $200-ish with some price spikes below $200, so the value of my holdings stooped to below 35% of what I had invested, yet by the end of 2015, BTC price seemed to bottom in the $250 arena, and I made several mistakes, but continued to buy with what I could which brought my average cost per BTC to around $500, which is about 50% losses.

I guess I am thinking that 50% losses, is still way more principle to work with than 96% losses.  When bitcoin recovered I made some more mistakes, including getting phone ported hacked, which caused my average cost per BTC to go up to about $750 per BTC, but I guess I did not have the fucking burden and confusion of multiple alt coins cluttering up my thinking...

Today, I kind of consider my average price per BTC to be in the $650 to $750 range, and the reason that average cost per BTC is not clear is because there is some uncertainty about how much value I should give to BTC, fiat and other token holdings on WEX, especially since they seem to have their own shenanigans going on.. and I am not quite ready to write those coins off.. .. even though their ongoing price shenanigans and their withdrawal freezes are seeming more and more difficult to recover from such negative public image.   i am still hesitant to write off those coins.

Anyhow, you can have a lot of fuck ups in BTC, and still retain a certain decent amount of value, and I question myself regarding how much sympathy I want to give to folks who are gambling on alt coins, especially shit, scam and attack vector coins like Bcash and Ethereum.

[yefi]

A wise trader at least waits for a second bottom before stepping in. But feel free to catch a fallin' knife.

Should be a good move methinks. Plenty of degenerates to dump bags on higher up.

[RoomBot]

This BTC dip isn't low enuf for you peeps? 

Can't see the forest for the trees?

[Icygreen]

This BTC dip isn't low enuf for you peeps? 

Can't see the forest for the trees?

[JayJuanGee]

Hate to say it, but what the peeps think, will we see sub 4xxx coins?

Your post comes off as filled with hopium, rather than based on any kind of attempt to understand the context for what your are asking. 

Perhaps, based on our current context and dynamics, there is a bit more than a 40% chance that we will see $4xxx coins, which I gather to be any price below $5k.

Many of you oldtimers thought a month ago that we are out of the 6xxx area

What the fuck you talking about?  Your claim to what "oldtimers" think or said seems a selective out of context wishful memory.. aka strawman, right? 

Yes, if the BTC price goes up then people become hopeful and excited, but I think that vast majority of potential BTC "old timers" are concluding that BTC prices are out of the woods and that the bottom is in, and if they are saying that, then they are asserting such with reservation because I believe that a vast majority of "old timers" understand that when BTC prices are reasonably within striking distance of the recent "local" low, then there is a realization that BTC prices could go back to that point, challenge the support at that point, perhaps breakthrough (or NOT) the support at that previous low.  Anyone who may have arguably reached "old timer" status is going to have been through the ringer a few times, and perhaps even continued shell shocked from previous BTC bear markets, so few of such oldtimer folks are going to be counting their UP eggs before they are hatched... and several of us have mentioned breaking or getting close to $10k as a possible sign of greater bullish confidence.. not some of these lower numbers.

So, in essence, you are making shit up, when you are claiming that there is any kind of consistency in that "old timers" had been claiming that the bottom is in.

, though we seem to get weaker every day, running sideways together with Bart Simpson.

Yes.. you hope.

Have you seen the context? 

Do you think that there is any possible dragging effect in regards to alt coins, including ETH and some of the other bullshit crypto projects that might be dragging on bitcoin prices?  Perhaps bitcoin continues to perform o.k. in such a context, and is not as dire as you are HOPIUM it to be?

I read only about 10 pages of the last 100, I am sorry if this has been discussed already.

The dumbness of your question is likely NOT a result of a lack of reading in this thread, but instead presuming too much in your question about 1) what old timers may have said, 2) the current direction (or status) of BTC prices and 3) lack of recognition of the current BTC price context, including the ongoing alt coin price (and sentiment) pressures.

I can't see any positivity on the horizon,

Perhaps, you were raised badly?

though that doesn't mean it's a bad time to buy, doing just that.

At least, in spite of the dumbness of the other aspects of your post, as I already responded above, you may be doing one thing right, and that is buying BTC as the price goes down.  Good job with that seemingly redeeming part.

[JayJuanGee]

i do like jimmy song and put the bet on that idiot 

Link or it did not happen.   

[lightfoot]

I did a google image search, and I found this article.

Yeah, I think I posted this about being in CNN a few pages back. Or an eternity, same thing.

I am thinking How fucking stupid can you be?  but then, I suppose that there are quite a few folks who bought at the top, and then made a bad situation worse by gambling.  He would not be doing so bad, right now, if he had kept his focus on Bitcoin rather than getting distracted by shitcoins...   Hard to recover, when your principle is only worth about 4% of what you started with?

Either the guy is a liar (possible), a complete idiot (somewhat possible since he isn't drooling in the pic), or... well is a liar. I find it hard to sit down, buy in mid-november, and manage to lose 96% of my initial investment. It's possible he is down 96% from his "paper profits" but that is NOT THE SAME as being down on your original investment. So it went from 100k to 600k and down to 24k? That's a 75% loss, not a 96% one.

More importantly, this article is on CNN, is on the front page (was earlier) and seems to be a bit of CNN trying to drive news about bitcoin. Which is weird, this is NOT bitcoin, and even the guys on Bloomberg on the radio were like "Dude, Bitcoin went down 20%. Who gives a fuck, this is called "Tuesday". But for whatever reason CNN is pushing a wet string.

Maybe we should complain to them and get a more balanced view. Hell, you could say I'm down 66% from my "high" (18k to 6k) but since I bought in at way less than 6k am I really down 66% or up so fucking far I fart rainbows of joy?

Today, I kind of consider my average price per BTC to be in the $650 to $750 range, and the reason that average cost per BTC is not clear is because there is some uncertainty about how much value I should give to BTC, fiat and other token holdings on WEX, especially since they seem to have their own shenanigans going on.. and I am not quite ready to write those coins off.. .. even though their ongoing price shenanigans and their withdrawal freezes are seeming more and more difficult to recover from such negative public image.   i am still hesitant to write off those coins.

I have several tranches of coin values based on when I billed for mining repair work. Some are at $80 (way back in the BFL Single hey I can put more chips on this fucker! days), some are at $600, some 2k, some 14k (got a lot less coin at those prices). If I sell since I did LIFO accounting I have to track and pay CG on the profit or (in this case this year) loss. Same with litecoins, some at $4 (which I sold for bitcoins at 1k I think. Ug-ish) some at 50, some at 100, and some at 250 (I'm taking a haircut on those). But there's no fucking way I lost a lot in this thing.

Anyhow, you can have a lot of fuck ups in BTC, and still retain a certain decent amount of value, and I question myself regarding how much sympathy I want to give to folks who are gambling on alt coins, especially shit, scam and attack vector coins like Bcash and Ethereum.

Indeed. As I said, I think BTrash and Ethereum are coins in bad faith: BTC because it was made as a fuck you to bitcoin and Ethereum when they made that first tweak to bail some yabo's ass out. They deserve to go, but CNN and mainstream media should be going on about the perils of shitcoin, not Bitcoins.

[JayJuanGee]

ETH is still leading the loss-pack. The pain is increasing.

#BUY BITCOIN

Honestly I think Ethereum will be fine in the longterm, only Bitcoin and Ethereum came out of the US as Non-Securities which I doubt others will be able to do. That's a big fucking deal.

That is a misleading way to give fundamental value to Ethereum and attempt to mentally equate it with bitcoin.... you are likely to get fucked if you really believe that ethereum is even close to bitcoin merely because some government officials want to create an impression of a kind of false equivalency.... Yes, appears that you took the bait.

[JayJuanGee]

I also got a Nano S at the fork. Just recently got a Coinkite Coldcard, it seems much more sophisticated. It can operate it's whole lifetime offline. It has a micro SD slot, you can power up the Coldcard with just an AC USB charger, and sign transactions  (although recent versions of Electrum support it natively). It has a $5 wrench secondary wallet, as well as a 'burnme' PIN.

You mean this one?    https://bitcoinexchangeguide.com/coinkite-coldcard/

Looks like it is around $50.  Was there a 12 or 24 word backup, similar to the trezor, or what happens when you brick or lose or destroy your card?

[Paashaas]

The main selling point of ETH: gone.

The only ''unstoppable'' Dapp is that $100k+ cryptokitty 
 

[Torque]

The main selling point of ETH: gone.

The only ''unstoppable'' Dapp is that $100k+ cryptokitty 
 

You know it's pretty telling when Vitalik and some of his followers spend a whole Twitter thread pondering if ETH even *has* a valid real world use case. Definitely no SoV use case like Bitcoin.

https://twitter.com/VitalikButerin/status/1039534193263296512

[Stevenirving]

Damn young people with their social media and constant instant gratification (says the young person). Y'all need to learn patience!! The coin may drop it may rise. Eventually it will once again break the ath. There is no point flipping out  over the possibility of breaking through the support barrier when that concern is short sighted. Bitcoin is not dead. It's growth and rate of world wide acceptance make it an inevitability. I am fed up with hearing all the whining about the future of Bitcoin. Even if we managed to crash down to some insanely low number for now who cares?

[nanobtc]

JJG, yes, that's it. I think the $50 was a kickstarter deal, they may be more now. The first few production batches were sold out. Yes, BIP39 comparability, seed words, easy (hopefully) to restore to another device in case of disaster. The damn thing comes sealed in a bag that changes color if it's opened, the bag's serial number is in the firmware (tamper-proof, proof).

Much more than I can relay is here:  https://coldcardwallet.com/docs/

I was pretty happy with Ledger Nano S, glad to see ledger-live instead of Chrome extensions. I use it only on several Linux variants, but even on latest updates, the USB comm is messing with something. It's killing X, but the OS is still alive underneath. Chrome extension seems to work fine, but I am leery of trusting Mega-corp.

Little nit-picky stuff on the Nano S?  The whole thing physically is a little 'wiggly'. The buttons don't seem physically robust. I would not expect it to take rough treatment. Nano S also has native Electrum support, but I haven't tried it yet (even though Electrum is my favorite software wallet. Paper has been preferred so far, but it was  hassle to sweep the whole thing to extract shitcoins.

The Coldcard has no moving parts, the buttons are all capacitive (sp?) touch (with adjustable debounce and sensitivity), and a much better/bigger display. I think you can pretty much reset anything/everything on it, unless you use the BURNME PIN, that destroys the device.

I'm happy to see that Coldcard has source code available, and encourages home-grown extensions. That of course opens idiots to someday installing bad custom firmware (BUT THEY SAID IT WOULD CURE CANCER!). Conversely, Nano S pretty much just said "it's all a secret. Trust us".

Disclaimer: I am a hardware wallet newbie. Nano S/Coldcard are my only toes in this water.  There are plenty of others. We are obviously at the tip of the iceberg, on what hardware wallets will someday become. I'm just trying to learn. I don't really need hardware wallets.

[yefi]

The only ''unstoppable'' Dapp is that $100k+ cryptokitty 
 

You forgot what Eth was built for: the ponzi game Fomo3D.