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Question: What happens first:
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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26330489 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. (170 posts by 1 users with 9 merit deleted.)
xhomerx10
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February 03, 2019, 07:45:55 PM

Wish I was there - cold and freezing rainy here today!

Cold builds character. Cold people will beat hot people every time, because we have to work and be resourceful to feel good, not just fall back on the ground for a suntan.

disclosure: it is also cold and freezing here  Cry



 I feel stronger and paler simply having read this post.


Hey old chap - many thanks for the hat upgrade!  A bunch of inadequate tokens as a mark of respect.

 Appreciation alone will always suffice!   Glad you like it Wink
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Dabs
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February 03, 2019, 07:48:16 PM

THX for the lesson to show again never to invest more than 10-20% of crypto-portfolio into alt's................
mainly keep it in BTC

but indeed HODL

It depends on the alt. Have to do a lot of research. As much as almost everyone here hates ETH, if you had just bought into the ICO in 2014 with 1 BTC, you would have 2000 ETH. (or if you got in with 10 BTC, you would have 20k ETH.) Then all you'd have to do is sell half at the top, keep the rest for the future.

Which is probably true of a lot of alts in 2017-2018.

There are now so called stablecoins ... the correct strategy these days would be to get collateralized debt positions on them, cash out to fiat, buy whatever you wanted to buy, and slowly pay it off (as the rate is some absurdly low 0.5% per year or something.) ... But they're all in alts, not in BTC, so ... a little work to get it done.


Wow that story is very sad. Stay strong brother... stay strong.



Seems like the FOMO has taken a hold on you last year because alts were mooning a lot harder than BTC and you couldn't resist.

Coincidentally, today I was checking this website: https://athcoinindex.com/

There are many shitcoins which lost more than %95 of its value and I believe there are shitcoins which can do x50 or even x100 during the next bull run. I am considering to buy some of those shitcoins nowadays.

While I am deeply sorry for your losses  and I can empathize with you (me was always in btc %95+ though, means i lost only %80-85 instead of %95) these type of posts are the ones we call "blood in the streets". And a buy signal.

It is. We still don't know if this is bottom, but it's low enough for all practical purposes in the long term.
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February 03, 2019, 07:48:57 PM


Well that's pretty darn good!  What manner of beverage is that with the Bitcoin slice on the glass?


Thank you, xhomerx10. I think that the drink is a real holder BTC. (rum or whiskey)
JayJuanGee
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February 03, 2019, 07:57:04 PM

~snip~

On xhomerx10's advice, I tried to make a hat for you. After reading your publication history, I thought that you love Bitcoin and alcoholic beverages. You have good taste! At first I wanted to make a beer, but I still did not know if you like it. I slightly corrected the idea of xhomerx10.

What say about this hat?



Looks like the beginning of decentralized hat making.  A kind of competition point for homer. 

All good things must come to an end, including hat-making monopolies.   Cry Cry
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February 03, 2019, 07:59:59 PM
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Perhaps, even the willingness for the court to delay disbursements based on these kinds of outrageous adjusted claims, there is some lacking in good faith for the court to actually accomplish justice to reimburse and disburse claims to legitimate claimants?

Peter Vessenes is such an incredible a..ho.e .  claiming 25% of btc marketcap, what a shitshow.
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February 03, 2019, 08:05:06 PM
Merited by ðºÞæ (1)

I actually want him to answer. I've been around. I suffered a lot during the last 3 to 6 months, as all my holdings were in assorted alts, and everything crashed together with BTC.

To the point, I'm now entering the "normie" world, working a "normie" job, as I refuse to sell any coins I still have. I lost some too, to two exchanges that recently died. Perfect timing. One is in New Zealand, the other is in Canada, you can guess which two exchanges, they were all over the news 1 week after I sent them some coins to try to cash out.

My formerly unrealized potential 50 BTC ... (that's all I really had) is down to ... well 90% "disappeared" ...

But the time traveler, and a bunch of "bitcoin global road map" posts I read before, I'm pretty optimistic about the future. And I still have two bars of silver, LOL. (Didn't get gold yet.)

I was one of those few living on crypto. 12 months ago, I set myself up to do the trading of these alts to btc to fiat and back and forth, and it was a good run for about 9 months.

Now it's no longer sustainable. I think I read in the news at least two or three foundations of other alts that are either downsizing or simply disappearing, or asking another team to take over. I felt it on a personal level.

And as much as I don't want to beg, any help is appreciated. I was almost afraid of going homeless next month. True story.

HODL to the death.


you had 50 btc but gambled it away buying shitcoins?  and you still want to keep the shitcoins? imho hodl refers to bitcoin, not to shitcoins.
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February 03, 2019, 08:07:46 PM

[edited out]

Seems like the FOMO has taken a hold on you last year because alts were mooning a lot harder than BTC and you couldn't resist.

Yeah, but Dabs is also referring to that he was lured into various alts based on the attraction of "interest" which is a kind of way of suggesting that people who invest in some of these alts are going to benefit more greatly and even, perhaps, be able to embark upon a kind of passive income living that they cannot enjoy in Bitcoin because largely bitcoin does not have passive income built into it.

What I am trying to say is that there is a kind of false luring into alt coins to really buy into the possibility that they could have some income generating superiority over bitcoin when they have the interest bearing aspects.  It is a deception that is NOT true, but only becomes apparent to NOT be true with the passage of time, and you end up seeing, through experience, that those purported passive income interest bearing coins are NOT delivering value as well as if you would have just kept the value in BTC.

These kinds of deceptive practices are not going to stop anytime soon, especially when there are only less that 1% world adoption, and a lot of dumb money out there, and there is going to be ongoing marketing (perhaps many up and down cycles of such for the next 20 to 50 years) that lure new investors into buying inferior products because they perceive that Bitcoin's value is too high and that they can make more money through various purported bitcoin 2.0, 3.0, 4.0 alts. 
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February 03, 2019, 08:08:06 PM
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https://twitter.com/HillebrandMax/status/1092114319465201665
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February 03, 2019, 08:09:27 PM
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you had 50 btc but gambled it away buying shitcoins?  and you still want to keep the shitcoins? imho hodl refers to bitcoin, not to shitcoins.

You are right but we don't live in a perfect world.

I know bitcoin is the real thing, you know, i am sure Dabs knows it too but there are gazillion of people who'll be buying those shitcoins and do you think I am stupid if I want to profit from their stupidity? -no offense Dabs.

Dabs's mistake was, he didn't dump his alts on those suckers when he had the chance.

Ironically though, FIAT believers think the same thing about us, btc holders. "Poor fuckers they didn't dump their btc on suckers when they had the chance."

It gets confusing a bit  Cheesy
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February 03, 2019, 08:14:00 PM

Good analysis provided which i like to follow. Many analyse are good and right. Good luck.
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February 03, 2019, 08:18:07 PM

I actually want him to answer. I've been around. I suffered a lot during the last 3 to 6 months, as all my holdings were in assorted alts, and everything crashed together with BTC.

To the point, I'm now entering the "normie" world, working a "normie" job, as I refuse to sell any coins I still have. I lost some too, to two exchanges that recently died. Perfect timing. One is in New Zealand, the other is in Canada, you can guess which two exchanges, they were all over the news 1 week after I sent them some coins to try to cash out.

My formerly unrealized potential 50 BTC ... (that's all I really had) is down to ... well 90% "disappeared" ...

But the time traveler, and a bunch of "bitcoin global road map" posts I read before, I'm pretty optimistic about the future. And I still have two bars of silver, LOL. (Didn't get gold yet.)

I was one of those few living on crypto. 12 months ago, I set myself up to do the trading of these alts to btc to fiat and back and forth, and it was a good run for about 9 months.

Now it's no longer sustainable. I think I read in the news at least two or three foundations of other alts that are either downsizing or simply disappearing, or asking another team to take over. I felt it on a personal level.

And as much as I don't want to beg, any help is appreciated. I was almost afraid of going homeless next month. True story.

HODL to the death.

Yeah I hear similar stories almost every day. One guy from the UK I met last week had invested in Litecoin mining biz. He had some 10-15 Antminers. Had t shut them down and sell as the couldn't afford to pay the electricity bills and with today's LTC prices it wasn't paying off. His wife left him he's in the process of getting a divorce right now because of his financial situation. If this isn't freaking 'blood in the streets" then what is? HODL brethren, HODL till the end!  Cool
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February 03, 2019, 08:18:33 PM

~snip~

On xhomerx10's advice, I tried to make a hat for you. After reading your publication history, I thought that you love Bitcoin and alcoholic beverages. You have good taste! At first I wanted to make a beer, but I still did not know if you like it. I slightly corrected the idea of xhomerx10.

What say about this hat?





   

Avatar:





cause its really good and XhomerX bless I will wear it sometimes as well Smiley THX man
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February 03, 2019, 08:19:35 PM

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February 03, 2019, 08:20:51 PM
Last edit: February 03, 2019, 08:44:59 PM by realr0ach

... like claiming centralized, imaginary, non-fungible shitcoins with built-in middlemen that don't remove counterparty risk ...

I forgot, how is it centralized, imaginary, non-fungible and what are the built-in middlemen that don't remove counterparty risk?

Transaction validators are always designed to centralize in every cryptocurrency due to a multitude of compounding variables such as asymmetric global energy prices, the asymmetric bell curve's effect on circuit design, enormous startup capital requirements of a foundry, compound interest, economy of scale, a legal system that forces gatekeeper chokepoints due to AML/KYC, among dozens of other variables.  It's 100% impossible to create a decentralized digital currency period.  You ignore the lessons of why people like Larimer attempted to create a fixed amount of transaction validators to combat this obvious problem.

Where are the built-in middlemen in cryptocurrency?  How do you not see them?  They're called rent seeking transaction validators.  You're required to both ask them permission and pay them a ransom fee anytime you wish to transact.  The system is designed to allow them to blacklist any transaction they want.  That's called a permissioned ledger, and it's 100% inevitable every non-fungible token behaves in that manner.  It's completely impossible to even do a peer to peer digital currency transaction.  The whole thing is a lie.  Each transaction ALWAYS involves three or more people, not two.  

In real money - physical metals- a peer to peer trade is actually possible involving ONLY two people.
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February 03, 2019, 08:23:04 PM
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you had 50 btc but gambled it away buying shitcoins?  and you still want to keep the shitcoins? imho hodl refers to bitcoin, not to shitcoins.

You are right but we don't live in a perfect world.

I know bitcoin is the real thing, you know, i am sure Dabs knows it too but there are gazillion of people who'll be buying those shitcoins and do you think I am stupid if I want to profit from their stupidity? -no offense Dabs.

Dabs's mistake was, he didn't dump his alts on those suckers when he had the chance.

Ironically though, FIAT believers think the same thing about us, btc holders. "Poor fuckers they didn't dump their btc on suckers when they had the chance."

It gets confusing a bit  Cheesy

yes, that is indeed a fascinating phenomenon. no-coiners feel the same way towards bitcoiners as bitcoiners feel towards shitcoiners.  every time i tried to invest some btc into any alt it felt so wrong. no scarcity, no security, not decentralized, no use case - how can one trade valuable bitcoins for those scamcoins? because the percentage gains flashing on cmc make us salivate. but those %gains are FAKE, that is the problem. i am sure cmc has ruined more people than we can imagine.  
what no-coiners don´t get is that when it comes to crypto, btc is the conservative bet. to put a bet on top of this bet by buying (worthless, scammy, useless) shitcoins is pure gambling.
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February 03, 2019, 08:26:05 PM

How is your morning, Gentlemen ?

All is well from 30km east of Carolina.



Only worry today is finding a sports bar where the wife can watch the super bowl. We'll watch it again when we get back home. For accordingly experience hath shewn that the super bowl in PR is accompanied by local commercials, rather than the creativity fest shown back on the mainland.

Imagine that... watching TV for the ads. Whatta life.

Jbreher, are you scouting it out for residency?
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February 03, 2019, 08:27:02 PM
Merited by JayJuanGee (1), Dabs (1)

The problem with altcoin staking is that it is a sugar hit.

Staking reduces circulating supply which props up the price.  Stakers get "interest" payments, so it feels like a perpetual money machine.

But really what is happening is the interest payments are inflation, chipping away at the coin's value.  When the stakers realise that their stake is falling in value faster than they are getting interest payments, they dump their stake.  

All that locked up liquidity comes flooding back onto the market, and it cycles downwards.  
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February 03, 2019, 08:27:42 PM
Merited by 600watt (1)

[edited out]

you had 50 btc but gambled it away buying shitcoins?  and you still want to keep the shitcoins? imho hodl refers to bitcoin, not to shitcoins.

Four points here:

1) Dabs I appreciate that you are being frank about your situation, and likely you realize that revealing some of your situation would have likely resulted in various kinds of attacks in regards to your own reasonableness in dealing with such situation.

2) regarding the substantive point about HODL only applies to bitcoin.  Yes.  Exactly correct, 600watt.  I have made this comment in this thread, in real life and also in other bitcoin/crypto threads.  Any of the prudent trading practices that apply to bitcoin, such as HODL, incremental accumulation, dollar cost averaging, buying on dips, etc do not apply to alt coins... Maybe, perhaps, you might get lucky and find one or two of the thousands of altcoins in which there is actual fundamental long term value, but generally speaking you should not be concluding either that they have fundamental value nor engaging in such long term fundamental investing into any of that pump and dump shit.

3) If you have already taken a position in any shit coins, then you should be ready, willing and able to reconsider your position, but if you already devolved into investing more than 20% of your crypto value into such shit, then you may have become too attached to both your position and hoping that at least some portion of your various shit investments pump

4) this point relates to point 3, and really you should not be investing more than 10% or so of your total crypto value into alt coins.  Of course, I recognize that younger people might be ready, willing and able to take more risks, but even then, you gotta remain somewhat measured in how much you are allocating to risk.  Bitcoin, by itself, is already risky, and many of the alt coins track BTC's performance anyhow, so there is no real advantage to investing in shit coins, unless you merely want to make some real short term plays based on some kind of insider information that is hopefully reliable and you can get out of such alt position in a timely manner of your own choosing.
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February 03, 2019, 08:28:06 PM
Merited by Dabs (2)

shitcoins... by the way who is selling Merits? I nearly running out of sMerits.
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February 03, 2019, 08:34:20 PM
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Okay I like that one.
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