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Question: Among your family and friends, who owns Bitcoin?
Myself only - 25 (30.9%)
Myself and my spouse/partner - 10 (12.3%)
My family - 10 (12.3%)
Close friends - 11 (13.6%)
All of the above - 25 (30.9%)
Total Voters: 81

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25281808 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (157 posts by 13 users deleted.)
Last of the V8s
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December 13, 2018, 07:05:05 PM

https://twitter.com/BreakingNLive/status/1073263748809400321
WATCH: Brinks money truck spills loads of money on a freeway in New Jersey. People stopped in the middle of the road to grab what they could:
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JayJuanGee
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December 13, 2018, 07:06:58 PM
Last edit: December 13, 2018, 07:19:29 PM by JayJuanGee

I think that you're being emotional and shouldn't invest at all if you can't handle massive red candles. Selling now is like buying at >15k. Now is not the time to sell, but to keep cost averaging in.

There is no guarantee that bitcoin will really bounce back one day . I believe it will, but I am totally unqualified.

Of course, there are no guarantees.  That is why the vast majority of us are suggesting some prudence, especially considering BTC as an investment, and that is to be willing to lose everything that you invest which means riding it to zero if necessary.

Putting more money is foolish, if you already put all the money you have reserved for high risk assets.

It is not foolish because that is how dollar cost averaging works, and we already know that markets can be more extreme than any rational person would expect.

Of course, you need to have confidence in the underlying fundamentals, and that confidence should not be shaken merely by short term price performance.

In past it bounced from much lower marketcap, much lower media attention, much lower infrastructure (exchanges, media, wallets, ATMs, stores that accept etc).

There is some truth to what you are saying, but bitcoin also remains a baby in terms of adoption that continues to grow - in spite of short term price dynamics.

It's not certain that it will ever reach 10k again. I believe it will, as everyone here. But how much are you willing to bet that it will? That's he point.


Bitcoin does not have to reach $10k in order for it to be an ongoing good investment, even at these price levels.

Sure, it has decent chances of reaching $10k again, but of course, nothing is guaranteed, including $10k and including $4k.



Edited to add further response to same topic below:

Just as you said that buying at 15k is stupid, in future selling at 3500 could be a great deal. What is it goes to 1500.? That's a 100 gain if I buy back.
The point is that we're already down 90% and the probability of going down further decreases exponentially as we go down. You're just falling victim to the gambler's fallacy right now.


Edit: What if it goes down to $1? It was $1 before, I could sell one Bitcoin and make 3500 Bitcoins! (fat chance)

Edit2: Invest some money in a book on investing and balancing portfolios. Read it, study it. Everything you post cements the fact that you're just gambling based on emotions. Emotions that traders use to take your money and make profits.

It is down 75%, not 90%.

 I am talking about balancing portfolios, when I said that putting more money is foolish if you already invested all you wanted in high risk assets. Less than 2% of my portfolio is in cryptocurrency.

But you are right, I am being emotional. Even though what I am saying makss Sense, because BTC can still fall to 1900 (your 90% down). We are not there yet.

It does sound like you are emotional here.  Especially, you are arguing with unimportant technicalities regarding BTCMILLIONAIRE's point.. who cares, 70%, 80% or 90%, his point that the BTC price is largely down already which causes it more difficulties to go down further, even though we have a current bearish trend that gives decent probablities to down.

The punchline also seems to be that even if you only invested 2% of your portfolio, you are acting like you are "overinvested" which does not seem to come from someone with a mere 2% of investment portfolio invested.

Edit2:

Ahhhhhhhh

Thank you millionaire, gentlemad and lfcbitcoin

I will hold this shit until it goes up. You are right.

Thanks

I see that you largely have "seen the light," but of course, I am going to leave my above comments stand, as I originally drafted them because there are likely a lot of folks going through similar dilemmas right now, and each of our experiences and opinions can be helpful to resonate with people of varying experiences and perspectives.
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December 13, 2018, 07:13:07 PM
Merited by Searing (1), rolling (1)

https://twitter.com/BreakingNLive/status/1073263748809400321
WATCH: Brinks money truck spills loads of money on a freeway in New Jersey. People stopped in the middle of the road to grab what they could:

Watching all those good samaritans risking their life to help the truck driver recover all the money renews my confidence on humanity. #XmasSpirit
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December 13, 2018, 07:22:21 PM

Price is still in the dolldrums so here's some more reading again. I do not like Twitter links but sometimes it is hard to avoid it.

https://twitter.com/danheld/status/1072973302505779200?s=19

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December 13, 2018, 07:38:24 PM

Price is still in the dolldrums so here's some more reading again. I do not like Twitter links but sometimes it is hard to avoid it.

https://twitter.com/danheld/status/1072973302505779200?s=19


Thanks for sharing, here's a cut n paste synopsis from the twitter thread...


/ The Bitcoin (double) Standard

A deep dive into the cognitive dissonance of nocoiners, and the ridiculous double standard they have for Bitcoin. Thread 👇

2/ Manipulation

Over the last decade, banks globally have been fined with more than $200 billion in penalties, following investigations into manipulation of various markets/instruments: FX, metals, LIBOR, etc. Those cumulative fines are 2x the current total crypto market cap.

3/ Intrinsic Value

Complaining it has no intrinsic value when their primary currency has absolutely no intrinsic value.

“Bitcoin units have no intrinsic value… the U.S. dollar, the euro, and the Swiss franc, have no intrinsic value either.”

4/ Money Laundering

Approximately $2T a year globally is laundered, Americans spend $100B on drugs annually, Crypto market cap is $109B as of this tweet storm.

“Cryptocurrency [represent a] “low risk” for money laundering and terrorist financing activities... according to FATF

5/ Complexity

Consumers don’t understand how their existing financial system works, nor their cell phone, microwave, etc. There is minimal new training needed for them to be literate/enjoy basic interactions, just like any new technology in their life.

6/ Volatility

The only constant in markets is volatility. No one says “Gold isn’t a good SoV because the price fluctuates” but we hear that all the time with #bitcoin. What did you expect with a new emerging sound money? It certainly wasn’t going to be a linear price path.

7/ Energy Consumption 

🚨 Electricity police! 🚨

Complaining about energy consumption, without first comparing it to the energy consumption of gold mining, the financial system, government, courts, military, selfies, or watching the Kardashians.

8/ Monetary Policy

Worried about deflationary spirals when they most they’ve spent studying deflation is the 15 second dismissal argument from their econ 101 professor

9/ Control

Worries that it was created by an anonymous “hacker” vs highly flawed founding individuals of their government/financial system. Worries that no one “controls” the monetary policy vs a group of old white men they can’t even name

10/ FUD

What all of this FUD represents is the magnitude change Bitcoin brings. Any new technology evokes FUD, which is proportional to the impact it will have on the world. Humans don’t like change, FUD is a representation of the change that a new technology rings.

11/ History rhymes

When the bicycle debuted in 1800s, it was blamed for all sorts of problems—from turning people insane to destroying women’s morals

In the future, we’ll look at these double standards as we do now with bicycle objections: with laughter
 

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December 13, 2018, 07:40:40 PM

Retail Giant Carrefour Launches Blockchain Food Tracking Platform for Poultry in Spain

https://cointelegraph.com/news/retail-giant-carrefour-launches-blockchain-food-tracking-platform-for-poultry-in-spain

(Old news I know, but it is just now being announced in Carrefour's TV ads)
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December 13, 2018, 07:42:01 PM

well well well triangle broke down it seems
Last of the V8s
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December 13, 2018, 07:42:54 PM

It is finished.
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December 13, 2018, 07:45:46 PM


I completely agree however, we must take into consideration that many people invested last year, with a buy in much greater than ours. They could already be at a loss or close to a loss, which puts them at a very different mind set to us who, would need a far greater drop in price to be in their position.

Yeah . My mind set changed completely last week when the price reached my average and I become at loss.
Watch out for this once you're back in profit. Your mindset will do the inverse if we start mooning and that can be just as fatal as what you are experiencing right now. It just won't feel bad until it's too late.

Part of the justification for overinvesting a bit... Perhaps buying 1.2 bitcoin rather than 1 bitcoin is that you won't feel so bad to sell the extra .2BTC that you overinvested when the price goes up (that is if the price goes up).   
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December 13, 2018, 07:46:04 PM

Alright, calm down we’re down about $100 today. It’s not time to start hanging ourselves yet.
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December 13, 2018, 07:46:22 PM

Crypto is dead  Huh Huh Huh
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December 13, 2018, 07:46:37 PM

I think it is just a retest. Will probably bounce. Nothing to worry... yet.
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December 13, 2018, 07:47:43 PM

Bitcorn is ded
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December 13, 2018, 07:48:16 PM


I completely agree however, we must take into consideration that many people invested last year, with a buy in much greater than ours. They could already be at a loss or close to a loss, which puts them at a very different mind set to us who, would need a far greater drop in price to be in their position.

Yeah . My mind set changed completely last week when the price reached my average and I become at loss.
Watch out for this once you're back in profit. Your mindset will do the inverse if we start mooning and that can be just as fatal as what you are experiencing right now. It just won't feel bad until it's too late.

Part of the justification for overinvesting a bit... Perhaps buying 1.2 bitcoin rather than 1 bitcoin is that you won't feel so bad to sell the extra .2BTC that you overinvested when the price goes up (that is if the price goes up).   
Yeah round numbers can be a devil in disguise.
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December 13, 2018, 07:52:32 PM

someone just sended me this any thoughts?

From the team?   Wink
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December 13, 2018, 07:54:58 PM

Friends, son. People have friends. Tell your programmers that.
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December 13, 2018, 07:55:42 PM

That's a very short bear you have there.

well, 2015 was a flat for almost 8mo (after Jan plunge).
I don't mind us transitioning to such a flat right here.
Re 500K, I just don't know.

McAfee?

Should he start looking at recipes?
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December 13, 2018, 07:58:20 PM

What i'd like to happen in a perfect trading world




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December 13, 2018, 07:59:14 PM

Waiting, we will load a little more.

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December 13, 2018, 08:01:46 PM

Waiting, we will load a little more.



‘we’

Your 0.1 borrowed bitcoin shorting doesn’t count as a group of people.
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