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

[Buffer Overflow]

I'm worried about going to sleep. The big dump is coming.

Perhaps evacuate your bowels before settling down to sleep.

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[bitcoinbible]

it usually makes sense

Bitcoin isn't usual.

All it takes is one mistake when it moves against you and you've permanently ended up with half the BTC you could have owned if you'd have just held.

For most people, holding 100% of the initial amount is not a wise choice. It is good to diversify by selling into strength to account for the possibility of a black swan event in Bitcoin technology. This way you steadily accumulate also non-BTC assets, and can learn how to handle wealth. You sleep better and don't see dips in price as an opportunity to panic, but rather an opportunity to buy back if you really feel like so. The selling plan must be based on percentages, which means that no matter how high bitcoin goes, you still have more value in your remaining BTC.

If you have BTC1,000 and you absolutely want to have the same number when it hits $million, then it is best to just bury the paper wallet into ground and wake up when you are a billionaire. Trading only makes you lose the most of it over time with no gain. But it is not healthy for anyone to suddenly become a billionaire.

If instead, you flex your Excel muscle and devise a plan to sell BTC900 in decreasing increments at exponentially rising price points, you will already be rich and well-established when bitcoin hits $1 million, and totally content with the idea that your remaining stash is still worth a cool $100M.

That is incredibly sage advice and I just might take it. Really. Some people should read this carefully. You are absolutely right, being a billionaire overnight is not healthy. Not even being a millionaire overnight is healthy.

I have more of my lawyer friends starting to want to buy bitcoins!~~~ @ 500 it was a joke?... at 1000 now they want in LOL!!!  

[rpietila]

The "non-bitcoin portion of my portfolio" is my ability to earn a living via means that would still exist if Bitcoin goes to zero.

As far as savings goes, I'm only interested in forms that are transportable frictionlessly across international borders. Whatever form I keep my savings in, it should be capable of travelling with me no matter where I choose to live.

People have different subjective valuations for financial security. In my opinion it is entirely astute to have 80% of your net worth in bitcoin, for you it might be 100%. Many find even 5% intolerable.

Life brings all kinds of situations where you cannot earn a living and need savings. It is foolhardy to think you are immortal.

[runam0k]

That is incredibly sage advice and I just might take it. Really. Some people should read this carefully. You are absolutely right, being a billionaire overnight is not healthy. Not even being a millionaire overnight is healthy.

Agreed. All I need now is 1000btc.

[marcus_of_augustus]

I have more of my lawyer friends starting to want to buy bitcoins!~~~ @ 500 it was a joke?... at 1000 now they want in LOL!!!  Grin

So true ... at 5-10k it will be the accountants, doctors and dentists ... above that the majority will begin to arrive.

[TERA]

We passed the moon a LONG time ago.

[bitcoinbible]

http://i46.servimg.com/u/f46/15/36/12/95/warp_s10.jpg

We passed the moon a LONG time ago.

true we will see many members default on their short positions as we head up past $1000...imho ~ cover now or get served! hahaa 

[philip2000uk]

We passed the moon a LONG time ago.

nein! i don't want to go to the moon  too lonely up there.  I wanna go to singapore 

[macsga]

As we're approaching $1K more and more will go bearish. Which will make them run to cover their losses afterwards. My opinion is to hold as much as you can. Don't sell until it's absolutely necessary for you. Soon enough $1000 would be considered as a low point (as at some time was $266). Think about it.

[Davyd05]

watching mtgox say no to the drops and the bears frown again

[seanneko]

watching mtgox say no to the drops and the bears frown again

Bears need to give up and go home.

[italeffect]

coins for sale at Gox going down again ~ 20k now

[macsga]

Going out for coffee. Don't do anything foolish while I'm away 

[wilfried]

i dont believe in 10 year holding, i think the risk is great that bitcoin will be replaced by a more convenient cryptocurrency.
nowadays bitcoin is the big thing, cryptocurrency=bitcoin. maybe tomorrow cryptocurrency = whothefuckknowswhichcoin

today we can tell bitcoin rises
but we can also tell there are many alternatives already waiting
http://www.coinwarz.com/cryptocurrency

[bitcoinbible]

As we're approaching $1K more and more will go bearish. Which will make them run to cover their losses afterwards. My opinion is to hold as much as you can. Don't sell until it's absolutely necessary for you. Soon enough $1000 would be considered as a low point (as at some time was $266). Think about it.

GAME OVER !!!! = $1OOO -> THE STOCK MARKET SAYS WE ARE LEGIT!!! 

[Shak]

hm... a lot of bears anticipating a weekend dip and sell *movingsomeorderstocatchflashcrashs*

[atleticofa]

Stupid bears selling at 800 when in some years we will be at 100000. Good luck bears!

[rpietila]

It is up +100% from the start of the week, and has gone from -33% below the trend to +180% above, in about a month.

Surely you understand that either it is in a real risk of crashing, or laa laa this time is different we <3 Bitcoin.


...but that people sit too tight on their bitcoins is less of a problem than that many sell out all too soon

[nanobrain]

i dont believe in 10 year holding, i think the risk is great that bitcoin will be replaced by a more convenient cryptocurrency.
nowadays bitcoin is the big thing, cryptocurrency=bitcoin. maybe tomorrow cryptocurrency = whothefuckknowswhichcoin

today we can tell bitcoin rises
but we can also tell there are many alternatives already waiting
http://www.coinwarz.com/cryptocurrency

Who can say what will happen in 10 years time - we may be bashing each other over the heads scrabbling for food.

But if we hold it together then BTC will be the gold standard for crypto although I agree that a number of the current alt coins and probably new innovative ones will probably be used for smaller purchases/every day.  

[solex]

i dont believe in 10 year holding, i think the risk is great that bitcoin will be replaced by a more convenient cryptocurrency.
nowadays bitcoin is the big thing, cryptocurrency=bitcoin. maybe tomorrow cryptocurrency = whothefuckknowswhichcoin

today we can tell bitcoin rises
but we can also tell there are many alternatives already waiting
http://www.coinwarz.com/cryptocurrency

Because Bitcoin is software it can adapt fast. Because it is money it will be made to adapt fast.
If supercoin has some wonderful new feature that makes it better than bitcoin, then $10 billion says bitcoin can copy the supercoin feature. Bang! Supercoin becomes another niche clone-coin.