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Question: When ATH?
Nov. 2020 - 47 (36.2%)
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Mar. 2021 - 5 (3.8%)
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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 24403471 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. (153 posts by 40 users deleted.)
bitserve
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December 18, 2018, 12:23:46 AM
Last edit: December 18, 2018, 12:56:13 AM by bitserve

I have decided to write about what have been my errors during the past bull run and subsequent downtrend till now.
...<good stuff>...
I am writing this as advice for my future self, but hope it gets useful to someone else. Will continue.

What I learned this blowoff top cycle:

When selling enough to cover Your Personal Lambo[tm], make the increment to cover the taxes part of the same tx. Lest you be required to part with more Corn for such necessity that you otherwise would. Worst case, you've got a bigger pile of stinky fiat than you need.

Yeah, very good advice.

One of the posts I plan to make about my mistakes regards to taxes or, better yet, decisions I made trying to (legally) avoid taxes that in the end were (much) worse than the taxes would had been.
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December 18, 2018, 12:51:52 AM

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December 18, 2018, 12:52:59 AM

Quote
https://www.coindesk.com/enough-with-the-ico-me-so-horny-get-rich-quick-lambo-crypto

There’s a real possibility that all the noise about “governance,” “regulation” and “blockchain” will effectively create a surveillance state, a dossier society.

I think Satoshi would barf. Or at least work on a replacement for bitcoin as he first described it in 2008-2009. I cannot give a ringing endorsement to where we are


In other words, he says the exact same thing I do, except he somehow can't figure out that it's 100% impossible to create a decentralized digital currency (or just lies about it) and that we should be using physical silver and gold instead of this garbage.  All the programmers and cypher-whatevers are trying to maintain some type of relevance, and programming + cryptography skills have no relevance if everyone just uses physical metals.  There's nothing to work on.  It just works.
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December 18, 2018, 01:00:07 AM

EVERYONE PAY ATTENTION TO ME!

HOLY SHIT. I ACCIDENTALLY LONGED AT 80x instead of 8x AT 3237. Talk about a lucky day! Of course I noticed my mistake but by the time I could correct it, we were impaled on a fast green dildo!



 Not bad.  So the beer's on you tonight?


Maybe not tonight. I am hanging on to this long for a while like a bad gambler with an alcohol addiction. Still kind of hoping for another pumperino. Bollinger band constricting, Palms are sweaty
Knees weak, arms are heavy
Vomit on my sweater already
Mom's spaghetti

Wait, what? So you opened an 80x margin long by mistake, got the extreme luck that the price went in your favor and instead of thank the gods and close it and reopen with a more sane leverage you decide to... what? Let it go until you get rekt?
y house gone

How do you guys think Arthur can buy a lambo for each day of the year?

Long live the degenerated gamblers  Grin

Nice dildo, but i wouldnt party before we go above 4,6 :/
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December 18, 2018, 01:06:29 AM
Last edit: December 18, 2018, 01:21:34 AM by bitserve

r0ach, all that insistence about silver and gold is great.... But why don't you come back when we are well into the next bull run?

We are poor now and need more bitcoins. We got no money nor time for that posh stuff.
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December 18, 2018, 01:14:31 AM

Here is an interesting opinion of Jim Rogers (which I completely disagree with, but i always like to listen to what opponents say):

https://youtu.be/tNSXWkApxU8?t=410

He basically says that if bitcoin/crypto would be successful, government can simply abolish it like England abolished scrip in the 30ies by making trading NOT in Bank of England notes (pounds) a TREASON.
Don't simply dismiss this, hopefully, wrong notion because he is an old fogie since this is Jim Rogers, again, who happens to know about commodity markets quite a bit.
He is not short, but not long either and acknowledges that he might be wrong in his skepticism.

I think that he is wrong because bitcoin provides a standard/reference point, is apolitical and not 'owned' by a particular government plus could accelerate the commerce in due course.
Being neutral would make it resistant to the moves that he described, unless there is cooperation among G20.
What do you guys think?
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December 18, 2018, 01:19:50 AM

Here is an interesting opinion of Jim Rogers (which I completely disagree with, but i always like to listen to what opponents say):

https://youtu.be/tNSXWkApxU8?t=410

He basically says that if bitcoin/crypto would be successful, government can simply abolish it like England abolished scrip in the 30ies bymaking trading NOT in bank of england notes (pounds) a TREASON.
Don't simply dismiss this, hopefully, wrong notion, because he is an old fogie since this is Jim Rogers, again, who happens to know about commodity markets quite a bit.
He is not short, but not long either. Acknowledges that he might be wrong in his skepticism.

I think that he is wrong because bitcoin provides a standard/reference point, is apolitical and not 'owned' by a particular government plus could accelerate the commerce in due course.
Being neutral would make it resistant to the moves that he described, unless there is cooperation among G20.
What do you guys think?


Yes, it is perfectly "possible".

But... why would they? Bitcoin have some features that may even be good for them.

Also, before simply banning it, there are lots of intermediate steps:

- Specific taxes
- Mandatory report of Bitcoin holdings
- Whitelisting only on fiat ramps
- etc....

So, even IF any of that would happen it would take many years. I am not worried yet.
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December 18, 2018, 01:28:21 AM

Yeah... unh... I dunno. 'Round these parts, $1M in savings is kinda wage slave money. What with the widest accepted annual drawdown on the order of 4%, that be like $40K annual before taxes.

I added the plus for those who see it as chicken feed. We had a member here from Switzerland who said it wasn't even enough to wipe his arse with apparently.   
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December 18, 2018, 01:30:46 AM

Here is an interesting opinion of Jim Rogers (which I completely disagree with, but i always like to listen to what opponents say):

https://youtu.be/tNSXWkApxU8?t=410

He basically says that if bitcoin/crypto would be successful, government can simply abolish it like England abolished scrip in the 30ies bymaking trading NOT in bank of england notes (pounds) a TREASON.
Don't simply dismiss this, hopefully, wrong notion, because he is an old fogie since this is Jim Rogers, again, who happens to know about commodity markets quite a bit.
He is not short, but not long either. Acknowledges that he might be wrong in his skepticism.

I think that he is wrong because bitcoin provides a standard/reference point, is apolitical and not 'owned' by a particular government plus could accelerate the commerce in due course.
Being neutral would make it resistant to the moves that he described, unless there is cooperation among G20.
What do you guys think?


Yes, it is perfectly "possible".

But... why would they? Bitcoin have some features that may even be good for them.

Also, before simply banning it, there are lots of intermediate steps:

- Specific taxes
- Mandatory report of Bitcoin holdings
- Whitelisting only on fiat ramps
- etc....

So, even IF any of that would happen it would take many years. I am not worried yet.

In 1933 FDR declared owning gold (inside the country) as being illegal.
Before that 40% of dollars had to be backed by gold. Afterwards, they did not have to be backed (for inside the country trade), but only in 1971 that gold-$ link was abolished for international settlements.

I am not worried too, but curious what will happen going forward when fiat debts would not be able to get paid.
How the reset would look like?
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December 18, 2018, 01:35:47 AM

Guess who is officially a hat wearer now?

 Wink

 Yeah buoy!!
Looking good.


Thanks! The guy who made it is talented, so gotta give credit where credit is due!  Cheesy Wink
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December 18, 2018, 01:45:13 AM
Last edit: December 18, 2018, 01:57:08 AM by gentlemand

In 1933 FDR declared owning gold (inside the country) as being illegal.

I'd be very curious to see how a move like that would be taken today. Western populations are far more entitled and far less dutiful than that generation.
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December 18, 2018, 01:55:40 AM

However, my own story is that I started buying at $1,200 in late 2013

You are not doing much to discredit my notion that you and Micgoossens are the dumbest money in the thread by stating that you bought at the absolute top of the last bubble, held all the way down to $200, watched the price then rise to $20k, sold zero, then watched it crater to $3k.  Yes, you are technically still in the black...by sheer luck or random coincidence.
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December 18, 2018, 02:00:00 AM

However, my own story is that I started buying at $1,200 in late 2013

You are not doing much to discredit my notion that you and Micgoossens are the dumbest money in the thread by stating that you bought at the very top of the last bubble, held all the way down to $200, watched the price then rise to $20k, sold zero, then watched it crater to $3k.

I don't have any obligation to attempt anything in order to discredit your fantasy-based notions, especially when you are further distorting (and making shit up) regarding what I had already stated.

Furthermore, hardly anyone, who is active in this thread, gives too much of a ratt's ass about what you say, except to the extent that some of those folks might be are here trolling/shilling, like you, and have some sympatica with you on such troll/shill basis - especially because you mostly tend to be off topic with your bullshit pumping of PMs and your other hate-based blather / talking points.
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December 18, 2018, 02:07:21 AM
Merited by goldkingcoiner (1)

I put a stop loss just below -REDACTED-. No worries boys. I got this.

Congrats. Smiley
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December 18, 2018, 02:10:03 AM

I put a stop loss just below -REDACTED-. No worries boys. I got this.

Congrats. Smiley

No congrats until he closes the long in profits.

Don't feed the reckless gamblers Tongue
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December 18, 2018, 02:11:48 AM

I put a stop loss just below -REDACTED-. No worries boys. I got this.

Congrats. Smiley

No congrats until he closes the long in profits.

Don't feed the reckless gamblers Tongue

2true but he did say he put a stop in and I'm a reckless gambler. Cheesy
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December 18, 2018, 02:15:32 AM

Which site do you use to estimate optimal bitcoin fees?
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December 18, 2018, 02:16:11 AM

So, even IF any of that would happen it would take many years. I am not worried yet.

Don't forget govt will probably attempt to raise taxes to 90% again in the US (like they were at one time) in order to attempt to fund it's bloated military-welfare budget and zillions of overseas bases as the dollar collapses.
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December 18, 2018, 02:21:53 AM

I put a stop loss just below -REDACTED-. No worries boys. I got this.

Congrats. Smiley

No congrats until he closes the long in profits.

Don't feed the reckless gamblers Tongue

2true but he did say he put a stop in and I'm a reckless gambler. Cheesy

I am not sure where he put that stop loss and, anyways, stop losses are not completely foolproof.

Also the price is now trying to push through a resistance so it has a higher chance to retrace even if for attempting a second attempt later.

Don't get me wrong, I am also betting on the price going up. But 80x is another different beast in itself.
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December 18, 2018, 02:28:56 AM

I put a stop loss just below -REDACTED-. No worries boys. I got this.

Congrats. Smiley

No congrats until he closes the long in profits.

Don't feed the reckless gamblers Tongue

2true but he did say he put a stop in and I'm a reckless gambler. Cheesy

I am not sure where he put that stop loss and, anyways, stop losses are not completely foolproof.

Also the price is now trying to push through a resistance so it has a higher chance to retrace even if for attempting a second attempt later.

Don't get me wrong, I am also betting on the price going up. But 80x is another different beast in itself.

Yeah, 80x is fucking nuts!
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