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

[600watt]

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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[JayJuanGee]

[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. 

[Last of the V8s]

https://twitter.com/HillebrandMax/status/1092114319465201665

[mindrust]

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  

[Mr Airdrops]

Good analysis provided which i like to follow. Many analyse are good and right. Good luck.

[serveria.com]

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!  

[El duderino_]

~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 THX man

[Gyrsur]

[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.

[600watt]

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  

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.

[infofront]

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?

[HairyMaclairy]

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.  

[JayJuanGee]

[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.

[Gyrsur]

shitcoins... by the way who is selling Merits? I nearly running out of sMerits.

[Ibian]

https://twitter.com/HillebrandMax/status/1092114319465201665

Okay I like that one.

[realr0ach]

every time i tried to invest some btc into any alt it felt so wrong

There's no such thing as an "altcoin".  It's a propaganda term used by people like Luke Jr to attempt to hide the fact bitcoin has no valid Schelling point.  Every single thing about bitcoin is completely arbitrary.  There is no variable or aspect of it that has to be a certain way.  Trying to pretend the date should be changed from 2019 AD to 10 AB (after bitcoin) is the most ludicrous bullshit scam ever perpetrated.  

Even the creators of bitcoin say the design of it has a large chance of failure, so how is it possible to claim bitcoin is inherently better than anything someone else creates?  It's not.  This is one reason cryptocurrency is complete garbage.  No Schelling point.  It's not possible for something to be the unit of account of anything if it's completely arbitrary and can just be discarded at whim for something else.  That and if you corner every shitcoin on the planet, no matter which coin it is, you have no power over anyone because nobody actually needs your tokens and they can just use a different one instead where the distribution favors themselves.

That's why a fake commodity like bitcoin is useless.  If I corner all the silver in the world, people actually need them so I can just sit in my castle and gouge the market for whatever it can bear.  That is real power.  Digital shitcoins give you zero power over anything.  I can ignore you like you don't even exist no matter how many you hoard.

[Saint-loup]

Good or bad for a 10 years old currency like Bitcoin?


https://twitter.com/ShehabAgencyEn/status/1091636980654448640/photo/1

Edit: Looking at the address, we can say that they are getting good response.
Check: https://www.blockchain.com/btc/address/17QAWGVpFV4gZ25NQug46e5mBho4uDP6MD

An Israeli "startup" is monitoring Bitcoin donations to Hamas.

After Hamas's military wing published a bitcoin address on Telegram on Thursday identified by Whitestream as the wallet address of Coinbase, the same Telegram channel published a second bitcoin address for collecting donations on Saturday, this time a digital wallet apparently unrelated to Coinbase. Levy explained to "Globes" today that according to a check by Whitestream, within two days of the publication of the first bitcoin address, two relatively small bitcoin donations addresses were published amounting to only $2,500.

Whitestream discovered that one of the bitcoin donations transferred to Hamas's Coinbase wallet was sent on Thursday from a "Buy Cash" bitcoin trader in Khan Yunis in the Gaza Strip. Other bitcoin donations were sent to the Palestinian organization from wallets connected to Chinese cryptocurrencies exchange Binance and Russian cryptocurrencies exchange Vilkov, and from a wallet of another Coinbase account. Whitestream's check also revealed that bitcoin donations were sent late last week from Hamas's coinbase wallet to two bitcoin wallets: one belonging to CoinPayments, a company registered in the Cayman Islands, and one belonging to Binance.

The second Hamas bitcoin address has so far received donations from wallets of US trading platforms Bittrex and Coinbase, from Binance and Vilkov wallets, and from the coinMixer.io mixing service. Mixing technology mixes different addresses of digital currencies, thereby making it difficult to identify their users. Levy told "Globes" that the Hamas Coinbase wallet may have been blocked, and another wallet opened for collecting donations. The Whitestream team will continue monitoring incoming and outgoing transactions on Hamas's bitcoin addresses in the near future.

.

https://en.globes.co.il/en/article-hamas-raises-bitcoin-donations-via-us-crypto-exchange-1001271661

[Dabs]

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.

Actually, no, I "earned" 50 BTC worth of shitcoins (well, I don't consider them shitcoins, but whatever) ... my mistake was not cashing them out to BTC when I had the chance, and in hindsight, cashing out those BTC to fiat (maybe some, not all) so that I can live comfortably for a couple years, and then find a normie job without worrying about the future. (50 BTC was $1m USD back in Jan 2018? Something like that.)

And continue to earn or hodl everything.

But hey, no one's perfect. Either learn from your mistakes, or learn from other's mistakes. Still think they were pretty good bets.

A bitcoin would help so much, I'm not going homeless, and I've got a family to keep warm.

[600watt]

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.

Actually, no, I "earned" 50 BTC worth of shitcoins (well, I don't consider them shitcoins, but whatever) ... my mistake was not cashing them out to BTC when I had the chance, and in hindsight, cashing out those BTC to fiat (maybe some, not all) so that I can live comfortably for a couple years, and then find a normie job without worrying about the future. (50 BTC was $1m USD back in Jan 2018? Something like that.)

And continue to earn or hodl everything.

But hey, no one's perfect. Either learn from your mistakes, or learn from other's mistakes. Still think they were pretty good bets.

A bitcoin would help so much, I'm not going homeless, and I've got a family to keep warm.

pm sent.

[Last of the V8s]

Okay I like that one.

Thank you.

Here's an unconnected thing

https://twitter.com/nntaleb/status/1092117554766716931