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

[bitserve]

I came here for the Bitcoins, but stayed for the barrel plugs. This thread is hilarious, I love it

I would ask for instructions to build a homemade pipe bender.... but you guys wouldn't get the joke lol

Talking about that... where is Rosecactus? I am starting to be worried.

[infofront]

I would ask for instructions to build a homemade pipe bender.... but you guys wouldn't get the joke lol

Sounds like you're looking for an experienced lady of the night.

[infofront]

@infofront
I think your poll is somewhat vague. The bottom of what?  2018?  December?  All time?

The current bear market. Don't overthink it.

[empowering]

Shorts are ramping up again 

[Toxic2040]

The current bear market. Don't overthink it.

You ask much my friend. Very well.

+1 WOsMerit

[bitebits]

This is my best case scenario.  Purple line is 200 MA Weekly.  Under this scenario we break $6k in early 2020, maybe late 2019.  

New ATH in early 2021 is probably more than what many people would ask. Right now some people must be swearing that they are going to get out and never come back once they hit the price they bought in.   This happens to most people (happened to me in 2014, I know how it feels) especially if this is their first time investing in a high risk/volatile asset like bitcoin.

Exactly what I said to myself in 2014 after being over 50% in the red. All of a sudden we hit $19,xxx & I’m literally over 60 times my total investment........then greed took over & I sold fucking nothing.

It won’t happen during the next epic bull run, I can promise you that

And then you sit there with a measly million and barely any coins. Like those selling on the way up to $1000. You make the same mistake again but in reverse.

I am dead sure I would feel way more miserable being in that situation: understanding the tech, having the funds and balls to be able to buy in, and then miss the opportunity Bitcoin growing towards its potential. The ATH 300 billion market cap is fucking peanuts in the grand scheme of things.

[jojo69]

... where is Rosecactus? I am starting to be worried.

the krokadil takes it's toll

[Hueristic]

IMF urges central banks to issue cryptocurrencies

https://www.gigabitmagazine.com/fintech/imf-urges-central-banks-issue-cryptocurrencies

The Washington D.C.-based organization claims that cryptocurrencies could help prevent fraud and money laundering.

Tiens, is that not a bit bizarro?

I thought so as well.

[luckygenough56]

IMF urges central banks to issue cryptocurrencies

https://www.gigabitmagazine.com/fintech/imf-urges-central-banks-issue-cryptocurrencies

The Washington D.C.-based organization claims that cryptocurrencies could help prevent fraud and money laundering.

Tiens, is that not a bit bizarro?

I thought so as well.

https://www.youtube.com/watch?v=gHOAKWzDH-Q

[gembitz]

Happy birthday ATH!

I am very sorry to hear you won't be able to be with us this Xmas. We will all miss you. Hope you are doing well wherever you are and you will come back home some day in the near future! You know we all love you!

Cheers!

Meanwhile, UNO continues its relentless march towards becoming permanently established as one of Bitcoin's best performing hedges and general long term stores of value. Looks like it will be one of the survivors of the "crypto dotcom bubble" who's cap will eventually be catapulted into the top rankings.

Trying to get one's hands on any significant amount of it though is a distinct matter.

UNO was the blueprint for BTI :-D ===> WEEEEEEEEEEEEE

[toknormal]

UNO was the blueprint for BTI :-D ===> WEEEEEEEEEEEEE

Buttressed Titilation.

What could be more appropriate.

[bitserve]

... where is Rosecactus? I am starting to be worried.

the krokadil takes it's toll

Hope he didn't spend all his funds on that and remains a nocoiner forever

In hindsight he didn't do that bad selling (if he did)... unless he miss the train on the bounce.

[bitserve]

IMF urges central banks to issue cryptocurrencies

https://www.gigabitmagazine.com/fintech/imf-urges-central-banks-issue-cryptocurrencies

The Washington D.C.-based organization claims that cryptocurrencies could help prevent fraud and money laundering.

Tiens, is that not a bit bizarro?

I thought so as well.

BLah.... Centralised premined shitcoin = Scam.

[toknormal]

Nouriel's been nourishing his love-in with crypto lately.

[rolling]

Nouriel's been nourishing his love-in with crypto lately.

The thing he doesn't seem to understand though is the only profits are BTC profits. Taking profits would mean cashing out fiat or shitcoins to buy BTC. The BTC price is always 1:1. All that's happened this year is fiat has spiked in value which is a precursor to the next global meltdown.

If you're taking fiat profits, you are doing it backwards. Exchanging hard money for magical government money is not going to end well.

[toknormal]

The thing he doesn't seem to understand though is the only profits are BTC profits.

If you're taking fiat profits, you are doing it backwards. Exchanging hard money for magical government money is not going to end well.

Most excellent observation !

"Profit" is a very subjective thing depending on what side of the trading pair one is trying to maximise. That's how I see it as well and I've always measured my profits in BTC for that reason. If I hadn't I'd have been out of this market 4 years ago with peanuts in "profit" however you measured it.

P.S. Speaking of "4 years ago" Here's an interesting flashback:

[JayJuanGee]

I never touch alts because I don’t believe in them. And I can make bad decisions if I don’t believe in what I am trading.

I’ve got a stash of XRP, nowhere near as much as my bitcoin HODLINGS but would be nice to see it moon in the future.

I don't see any considerable ecosystem benefits of various shitcoins pumpening, even if my personal holdings might go up because of such pumpenings.

I understand that it is likely inevitable that several shitcoins are going to pump in the coming years, and that is why we cannot have nice things, and at minimum it will take 20 years for a decent portion of the population to recognize the differentiating value in bitcoin, and more realistically it will take longer than 20 years, perhaps approaching 50 years (I will either be dead or close to dead by then, so if I am posting in this thread, then there is some kind of AI going on or my account has been hacked).   

[JayJuanGee]

I really don't understand why everyone is so bothered by the decline and theoretical losses at the moment. Yes, it is not pleasant for the hodlers, but I don't agree that we will never recover or it will take decades. Let's recall year 2017, how it started. In early January we were close to a new ATH. Then suddenly the bank of China threatened to ban bitcoin exchanges on multiple occasions. The price fell from 1100 to 700 in hours and didn't recover for 2 months. Back then over 90% of all trades were made in China exchanges. Everyone was scared what will happen (including myself). Next we got denial for ETF. Next Bitfinex stopped withdrawals if fiat and suspicions of bancruptcy was in the air. Next Ver wanted a fork (BU). Next we had a fork in August. Next, we had the final ban in China. Next another fork in November was cancelled. Next Ver and Wu sold massively bitcoins to pump bcash. In all these bad news we were about 8K! The only good news CBOE and CME futures helped to reach 20K. So, you are telling me that in 3 years we can't reach again 8K? It is not realistic even if ETF is denied for ever and CW is dumping regularly his stolen bitcoins! Bitcoin market is way more agile and fast forward 10x any other asset. The most logical thing is in Dec. 2020 (after the halvening) to be above 10K.

Your whole summary is that bitcoin kept going up during a bull market, and it did not matter what negative things happened, bitcoin kept going up.  Yes, that summarizes 2017.

We are now in the opposite scenario, so the likelihood is down, no matter what happens, down.

What we are waiting for is a reversal, and such reversal could take 3 months to 2 years to play out.

[encycrypto]

I never touch alts because I don’t believe in them. And I can make bad decisions if I don’t believe in what I am trading.

I’ve got a stash of XRP, nowhere near as much as my bitcoin HODLINGS but would be nice to see it moon in the future.

I don't see any considerable ecosystem benefits of various shitcoins pumpening, even if my personal holdings might go up because of such pumpenings.

I understand that it is likely inevitable that several shitcoins are going to pump in the coming years, and that is why we cannot have nice things, and at minimum it will take 20 years for a decent portion of the population to recognize the differentiating value in bitcoin, and more realistically it will take longer than 20 years, perhaps approaching 50 years (I will either be dead or close to dead by then, so if I am posting in this thread, then there is some kind of AI going on or my account has been hacked).   

There won't be any AI or hacking, son! May Almighty bless you with a few hundred years of life!

[JayJuanGee]

I bought in after the cyprus bubble, I said to myself back then I'd cash some in at 40k. Then the Dec bubble happened that same year. After that popped, I said to myself "next bubble I will sell some then buy in again. Problem is I was calling a bubble at 1800 then 2800 the 5000 and so on, basically I can't tell the top of a bubble for shit, so I'll keep waiting for 40k. Moral of story, wait till your target is hit, because picking the top of a bubble ain't easy, and if you sell too early it's likely you'll panic buy back in.

This is my long-term stash by the way, I do have other amounts that I buy sell more frequently and also for shit coins.

That's why you also don't sell major amounts, such as more than 50 % because you will run out of bitcoin, if you sell too soon in order to sell more.