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

[Toxic2040]

CZ...you said safu?   


apparently the hot wallet at Binance lost 7k corn...ouch.

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[BTCMILLIONAIRE]

CZ...you said safu?   


apparently the hot wallet at Binance lost 7k corn...ouch.

It's an insurance fund/cold wallet that covers the losses of the hot wallet in a case like this.

[Bitcoinaire]

We estimate this will take about ONE WEEK. We will post updates frequently as we progress.

Most importantly, deposits and withdrawals will need to REMAIN SUSPENDED during this period of time. We beg for your understanding in this difficult situation.

https://binance.zendesk.com/hc/en-us/articles/360028031711

[jojo69]

but...but...

#safu??

[JL0]

https://www.youtube.com/watch?v=DelF6zEHXpE
#Fundsaresafu

[smartcomet]

Falling below $6,000 last year was where it all started to go wrong last year. The price dropped at an alarming rate after we breached $6,000.

November 5th 2018 - $6,398
December 15th 2018 - $3,179

I don’t know about anybody else but that was a pretty fucking scary time for me. Breaking $6,000 would represent great progress & a sign for me that the bear market has long been left behind & we enter a new, baby bull market.

Enjoy gentlemen, this is going to be a very exciting run over the next year or two & I’m honoured to be on this train with you all.

Yes, it was scary indeed. The scariest part for me was that we fell too quickly from the annoying 6.4K below my main investment point at 4.6K. I felt pretty miserable then but also courageous and immediately I started to make plans how to buy. Anyway, I didn't hesitate each time when I got some money and immediately I bought bitcoins. I increased my sub 20 stash with 2 whole coins in these 3 months. Now I have to invest all my salary for 2 years to get 2 coins at these prices. I will continue to do it, no matter the price. Unfortunately, I had to pay in the last months taxes and insurances for $1K, so I wasn't able to buy more. Today I feel also miserable but for another reason. I attended a presentation by one of my students, who was in Sao Paolo, Brazil. He said, that a typical Uviversity salary is 10 times than my professor salary in Bulgaria. And Brazil is looked upon as a poor country. I am so sad that after 20 years of work my savings are equal to 10 months work in Brazil or any other country in the world in fact. Our country is the only in the world which pays the University professors less than the workers and teachers. I can't go to another country because there are no open positions in my speciality. So my only hope is to convert what is above my monthly expenses in Bitcoins. I drew a lesson from my mistakes in 2017 and I will hold long enough to achieve my goals. On one hand I regret for my lack of nerve back then, but on the other, this made me a strong hand. It may be helpful for some so I write in short my experience.

For starters, I lost my earnings from $700 to $1000 after the crash to $700 for 3 month in the winter of 2017. For an unexperienced trader 2 months is a lot of time, and finally I decided that Bitcoin will never return and sold. After that I thought Bitfinex will go bankrupt and I didn't buy until it was $2000. Then I made some small profit (and I sold bcash for $200) which was completely annihilated by the pump from my sell point $2700 to $4800. Again, 2 months of crashes in the Summer was too long to endure for me then. Next I entered at $4600 to see the drop to $3000 but this time I holded. When the day of the fork neared I panick sold and then they cancelled it so I bought at a higher position (thanks also to Kraken, which was broken and it didn't fulfill correctly the buy order). Finally, I panicked at 12K that the futures will put an end to the bull run and sold half of it. The same day the price went to 17K. I was in shock and somehow I rebought at some drop at $14K. In short: I was good enough to predict the day of the first peak to 17K, but not the hour. The difference was some 30-40%. The lesson is only one - no matter how good is one in trading, noone is so good that ALL his trades are successful. And one bad trade can annihilate 10 successfull trades. So, I will clench teeth and hold no matter what! I have endured more than a year of horrific crashes and I am ready to endure many more years, if this is the price I have to pay for my first $1 mil. I am still in the process of making a selling plan. As a starting point is to get at least 10x profit. But some coins should be kept for 100x also. Oh, well, this is a though problem

Just like my trading history with different time and price. After I knew the 80/10/10 rule, this is that 80% lose money, 10% get by, and the final 10% take the 80%ers money, I seldom trade, because I know I don’t have any advantage to beat the 80%ers.

When the price fell to $3179, I was a bit scared but much regretted for not selling all at 19666$. I did sell a bit at that price, and rebought at 11K. After I knew btc will not go to zero and will change the world, I felt as calm as a cucumber.

Hodl is what I am doing, and trading is what I occasionally did with losing a little bit stash everytime.

[JayJuanGee]

Meantime it looks like we hit 6k. I was listening to Bloomberg yesterday and they were saying shorts were very high with Bitcoin. When will we see them all implode?

Yes because BFX and Bitmex traders are upidstay.  We are going to explode up through $6k because day traders have an average IQ of 96.



This is the long short ratio which is at an All Time Low, meaning shorts are effectively at an All Time High.

1st:  Well, yeah we have not quite hit $6k yet.... so who gives any ratt's asses about prices met on exchanges with margin trading. .. and other price "issues"... We don't read the BTC price as some higher number, merely because some exchange happened to hit such price.  In other words, as I type, we have so far only reached $5,970 as our most recent local high.

2nd:  Seems to me that an IQ of around 96 is about average... yeah... slightly below average, but still, not much off from average.

3rd:  If the ratios of shorts to long are so greatly in favor of too many shorts hanging out, then surely there must be some decent incentives to r3ck the fuck out of those shorts.  They would deserve it, and why the hell you shorting bitcoin, when even though BTC's upwards price performance has been quite grand in the past 5 weeks, there remains no real meaningful indication that BTC's recent price performance is unsustainable.  

Of course, I would not mind if BTC would r3ck a few more shorts with a $500 to $1k price bump, yet I try NOT to cause myself to become very concerned about either price direction.  Surely, since we have not really had any meaningful price correction for more than 5 weeks... after our little stunt of breaking above $4,200, I do continue to have enough fiat stacked up that I would not mind making some BTC purchases in the event of a decently large price correction of 30% or more.

[JayJuanGee]

I’m honoured to be on this train with you all.

That's how I feel.

JJG, this cute image showing mix emotion, Please let me know, Which one is it?

1. Crying due to happiness-feeling honoured?
2. Left out?
3. feeling violated?
4. Feeling cheated?
5. Someone mocking you?
6. Someone stole the Candy/BTC?

I think its 1st.... but still want to make sure.

I was thinking about the crying in a kind of sentimental way, so yeah, number one is the closest to my then feelings, and the time of the post.

[lightfoot]

They compromised the MFA system? Just what did they use, a letter from mom?

(And why doesn't bct use MFA, I mean come on.)

[yefi]

They compromised the MFA system? Just what did they use, a letter from mom?

(And why doesn't bct use MFA, I mean come on.)

Sounds like they gained access to the hash on the server so they could just copy and paste the correct response. U2F would prevent such an attack as no secret would be held server-side.

[lightfoot]

They compromised the MFA system? Just what did they use, a letter from mom?

(And why doesn't bct use MFA, I mean come on.)

Sounds like they gained access to the hash on the server so they could just copy and paste the correct response. U2F would prevent such an attack as no secret would be held server-side.

In other words they picked up the TOTP keys. For fuck's sake.

[Paashaas]

@LFC_Bitcoin, @Mic, @Pamoldar and others : good luck for tonight's game !

Going to need a hell of a lot of luck. I don’t think it’s possible. Gave up our tickets to save more heartbreak tbh.

Brilliant performance, unbelievable comeback.

From an Ajax fan, congrats to Liverpool.

I can't wait for Ajax vs Spurs game in Amsterdam.

[jbreher]

Stiller and Meara

[nanobtc]

gembitz is still in his Mom’s basement, furiously masturbating to midget porn, still waiting for $2,500.

weeeeee

I know it's a standard joke, but I used to have a serious relationship with a lady that was very short. She was also highly intelligent, and very hot.

[VB1001]

#bitcoin Stock-to-Flow model made with only 2009-2012 data (black):

- correctly predicted $200-800 price after 2012 halving
- predicted $6-10k price after 2016 halving
- predicts $100k after 2020 halving
- $1mln after 2024

Updating model with new data lowers the prediction a bit.

https://twitter.com/100trillionUSD/status/1125866956907794432

Good Morning WO,s

[fillippone]

gembitz is still in his Mom’s basement, furiously masturbating to midget porn, still waiting for $2,500.

weeeeee

I know it's a standard joke, but I used to have a serious relationship with a lady that was very short. She was also highly intelligent, and very hot.

Dynamite comes in small packages.

[Saint-loup]

Crypto exchange Binance founder and CEO Changpeng Zhao said the team is deciding on whether it will push for a rollback on the bitcoin network following a $40 million hack on the exchange earlier Wednesday.

Answering questions on whether the firm considers rolling back bitcoin network transactions, which would require pushing for consensus from major miners and mining pools to gather over 51 percent of the network’s total hashing power, Zhao said:

“To be honest, we can actually do this probably within the next a few days. But there’re concerns that if we do a rollback on the bitcoin network at that scale, it may have some negative consequences, in terms of destroying the credibility for bitcoin.”

He added that he has also seen a lot of people objecting to rollbacks since there are the “ethical and reputational considerations for the bitcoin network.”

“The team is still deciding that, and we are running through the numbers and checking everything,” he said. “It’s interesting that it’s a tech solution [suggested] to us by the community, including some of the core members of the bitcoin development team. We will consider that very, very carefully, with the feedback we are receiving.”

https://www.coindesk.com/binance-may-consider-bitcoin-rollback-following-40-million-hack

[windjc]

Crypto exchange Binance founder and CEO Changpeng Zhao said the team is deciding on whether it will push for a rollback on the bitcoin network following a $40 million hack on the exchange earlier Wednesday.

Answering questions on whether the firm considers rolling back bitcoin network transactions, which would require pushing for consensus from major miners and mining pools to gather over 51 percent of the network’s total hashing power, Zhao said:

“To be honest, we can actually do this probably within the next a few days. But there’re concerns that if we do a rollback on the bitcoin network at that scale, it may have some negative consequences, in terms of destroying the credibility for bitcoin.”

He added that he has also seen a lot of people objecting to rollbacks since there are the “ethical and reputational considerations for the bitcoin network.”

“The team is still deciding that, and we are running through the numbers and checking everything,” he said. “It’s interesting that it’s a tech solution [suggested] to us by the community, including some of the core members of the bitcoin development team. We will consider that very, very carefully, with the feedback we are receiving.”

https://www.coindesk.com/binance-may-consider-bitcoin-rollback-following-40-million-hack

Why did you leave out this part? FUD?

"UPDATE: After this article was published, Zhao said in a follow-up tweet that after speaking with various parties, the exchange decided it will not pursue the rollback approach. "

[discobean]

Crypto exchange Binance founder and CEO Changpeng Zhao said the team is deciding on whether it will push for a rollback on the bitcoin network following a $40 million hack on the exchange earlier Wednesday.

Fork and another air-drop come with it... rinse, repeat.

[Phil_S]

Really?