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Question: What happens first:
New ATH - 43 (69.4%)
<$60,000 - 19 (30.6%)
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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26404437 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. (174 posts by 3 users with 9 merit deleted.)
mindrust
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August 06, 2019, 12:08:04 PM



What do tradingview gurus call this? Wedge? Looks like I found one. I became a TradingView pleb too.
realr0ach
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August 06, 2019, 12:09:38 PM


...$600k with a cost of production of $6k post-halving.  ...

How do you know future mining difficult to infere cost of production? Maybe you dont know what is it or how does it work.. No surprise, coming from a gold bug

Because it already uses an enormous amount of power and it's not even really possible for mining to go up like 10x anymore or it would probably use more power than the entire United States.  It's a finite planet.  Do bit-tards really believe mining can expand infinitely or that it would be shocking for Bitcoin to reach peak mining an entire 10 years after release?  

And don't even try the lame "hurrr Bitcoin is powered by 70% renewable energy" lie.  That's due to mining centralizing around two ghost city hydro power dams in China, and China does not have infinite ghost city dams to expand to.  Cost of production post halving will either be $6k-ish, a negligible amount more, or possibly a large amount less if miners are forced to drop out.  It's not possible to artificially rig Bitcoin to any of these astronomical numbers people claim if you can just mine a coin for $6k or less instead.
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August 06, 2019, 12:13:14 PM

Shitty mobile phone chart

fillippone
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August 06, 2019, 12:15:23 PM
Last edit: May 16, 2023, 07:24:17 AM by fillippone


...$600k with a cost of production of $6k post-halving.  ...

How do you know future mining difficult to infere cost of production? Maybe you dont know what is it or how does it work.. No surprise, coming from a gold bug

Because it already uses an enormous amount of power and it's not even really possible for mining to go up like 10x anymore or it would probably use more power than the entire United States.  It's a finite planet.  Do bit-tards really believe mining can expand infinitely or that it would be shocking for Bitcoin to reach peak mining an entire 10 years after release?  And don't even try the lame "hurrr Bitcoin is powered by 70% renewable energy" lie.  That's due to mining centralizing around two ghost city hydro power dams in China, and China does not have infinite ghost city dams to expand to.

False.
With the power consumption of IDLE devices on the US only , you could power the bitcoin mining industry for 3.6 years



Source: https://insight.jbs.cam.ac.uk/2019/cambridge-bitcoin-electricity-consumption-index-cbeci/

This is a fact, not a mexican scammer bitcoin shilling statement.

It's plenty of energy out there.

realr0ach
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August 06, 2019, 12:17:09 PM

False.
With the power consumption of IDLE devices on the US only , you could power the bitcoin mining industry for 3.6 years

All you're doing is plagiarizing Gavin's dumb idea now.  Nobody is going to CONSTANTLY change out ASICs in coffee makers and other bullshit every 3 months.  Please come up with better bullshit next time.  It's not like that would even eliminate idle 'waste' power in the first place.  It would only add even more power usage and be culmulative WITH the idle power waste.  So there would be no point doing it.  You would need to be a dedicated, full-scale miner, or not a miner at all.
GreatArkansas
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August 06, 2019, 12:17:53 PM

Shitty mobile phone chart
https://i.imgur.com/j9fN0EE.jpg
What can you say on that chart or current situation of BTC? Love to hear yours.
Since in my lower time frames, I'm bullish.
El duderino_
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August 06, 2019, 12:18:37 PM

Most people are woefully uneducated about Bitcoin.

It appears that everyone who can explain it is extremely bullish.
https://twitter.com/bitcoindeezy/status/1158053269874196480?s=20



@r0ach, educate yourself, fight the inner bitterness, jump on the train, forget your Nazi sh*t thinking, forget trolling the WO, become a brother its not yet to late Cheesy Cheesy Cheesy

This is why we are here.
Spread the word.
Spread the knowledge.
Bitcoin is a difficult topic, at the crossroad of different fields of human knowledge (monetary theory, cryptography, game theory, distributed calculation, network engineering...).
Also as a paradigm shift challenges us on many aspect of our life we are used to think about as "certainties". This is why also adoption is coming slowly: a lot of people prefer to "close the eyes" and stay in their comfortable habits of ignorance (no negative term here, only ignorance as "not knowledge").
Bitcoin is difficult, but the stake is too high not to be educated about it.
But once you see bitcoin, it cannot be unseen.


 

I have seen r0ach been lectured numerous times in here, yet he don’t understand BTC.....

Your statement of a difficult topic is very correct!
GreatArkansas
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August 06, 2019, 12:21:54 PM

https://i.imgur.com/DbSJzGM.png
What do tradingview gurus call this? Wedge? Looks like I found one. I became a TradingView pleb too.
I have the same setup as yours but I'm in lower timeframes with combination of some momentum indicators.
For me, that kind of triangle is considered as continuation pattern, once it will break upwards, we can see test the previous yearly high which is around $13,000 to $14,000.
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August 06, 2019, 12:33:23 PM

https://i.imgur.com/DbSJzGM.png
What do tradingview gurus call this? Wedge? Looks like I found one. I became a TradingView pleb too.
I have the same setup as yours but I'm in lower timeframes with combination of some momentum indicators.
For me, that kind of triangle is considered as continuation pattern, once it will break upwards, we can see test the previous yearly high which is around $13,000 to $14,000.


I don't deny that. It can be broken before maturing. I've been wrong before, this might be just another fail chart from me.  Cool
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August 06, 2019, 12:43:34 PM
Last edit: May 16, 2023, 07:24:12 AM by fillippone

Speaking of education.

Bitcoin is often labeled as a Ponzi scheme.

Well: what can you say about a negative yielding bond?

why should you buy a negative yielding bond if it not to sell it later at an higher price?

here you go: total nominal velue of negative yield bonds: 15 TRLN of USD.



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August 06, 2019, 12:45:40 PM

Fuck.

Right after I bought $100 worth of btc from $12300 it started to go down.

Observing $11680.

$1000 incoming.  Grin

Just Bitmex Exchange and their shorting games..... never use this exchange it is GOV owned.

Blame Arthur Hayes and his leveraged gambling games.

Bitmex causes most of the "Bart" patterns, with its chained long & short liquidations.

Can’t be arsed looking but I am sure Barts were around before Mex existed

Bitmex is a FUD dump factory, disguised  as a crypto exchange, just like Poloniex is a shitcoin factory, disguised as a crypto exchange.
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August 06, 2019, 12:46:47 PM

Speaking of education.

Bitcoin is often labeled as a Ponzi scheme.

Well: what can you say about a negative yielding bond?

why should you buy a negative yielding bond if it not to sell it later at an higher price?

here you go: total nominal velue of negative yield bonds: 15 TRLN of USD.

Indivduals who are labeling it as a ponzi scheme either got burnt during the internet bubble in the early 2000s or are nocoiners. Grin
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August 06, 2019, 12:57:00 PM

9 more months till Bitcoin halving next year, I think it is good time to look at bitcoin price and halving history in order to make our plans for next months.

Source: https://ihodl.com/infographics/2018-04-09/chart-day-bitcoin-reward-halving-and-price-history/
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August 06, 2019, 01:13:20 PM

$12,3xx to $11,6xx

Those whales playing with us again, hey? It wouldn’t shock me if we went back to $9,xxx again by next week & then all the way back to where we are now.

Lots of games being played by those with deep pockets I think. Reassuring to know all this will stop when the FOMO begins after the halving. You can’t control the beast when it’s in BEAST MODE.
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August 06, 2019, 01:56:20 PM

9 more months till Bitcoin halving next year, I think it is good time to look at bitcoin price and halving history in order to make our plans for next months.

Source: https://ihodl.com/infographics/2018-04-09/chart-day-bitcoin-reward-halving-and-price-history/



Look up elliot wave principle, look up all the major FTSE or dow jones companies lifetime graphs.

While you're at it look at the oh so hyped LTC halving.  look at the effect it had on the price. 
Paashaas
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August 06, 2019, 02:15:37 PM

9 more months till Bitcoin halving next year, I think it is good time to look at bitcoin price and halving history in order to make our plans for next months.

Source: https://ihodl.com/infographics/2018-04-09/chart-day-bitcoin-reward-halving-and-price-history/

Consider the fact that Bitcoin is still in his start-up fase, looking at the right column seeing $100k to $1m per coin is not fantasy.

Pretty sure $1m per coin within 10 years.
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August 06, 2019, 02:20:02 PM

@LFC

British tax authority seeks customer data from crypto exchanges in search of tax evaders

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HM Revenue & Customs, the British tax authority, is pressuring cryptocurrency exchanges to reveal customers’ names and transaction histories, in a bid to claw back unpaid taxes, industry sources said.

Letters requesting lists of customers and transaction data have landed on the doorsteps of at least three exchanges doing business in the U.K. – Coinbase, eToro and CEX.IO – in the last week or so, the sources said. None of the three firms would comment by press time.

“If they [HMRC] do only go back two or three years, I think the interesting thing here is, that the individuals who went into crypto very early on in 2012-13 will not be affected. The ones who probably made the largest gains won’t be affected, it will be the people who came in around the time crypto peaked.”
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August 06, 2019, 02:26:03 PM

@LFC

British tax authority seeks customer data from crypto exchanges in search of tax evaders

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HM Revenue & Customs, the British tax authority, is pressuring cryptocurrency exchanges to reveal customers’ names and transaction histories, in a bid to claw back unpaid taxes, industry sources said.

Letters requesting lists of customers and transaction data have landed on the doorsteps of at least three exchanges doing business in the U.K. – Coinbase, eToro and CEX.IO – in the last week or so, the sources said. None of the three firms would comment by press time.

“If they [HMRC] do only go back two or three years, I think the interesting thing here is, that the individuals who went into crypto very early on in 2012-13 will not be affected. The ones who probably made the largest gains won’t be affected, it will be the people who came in around the time crypto peaked.”


I started buying in May 2014. I’ve never declared any tax at all. Correct me if I’m wrong but you only pay capital gains tax when you start to sell?

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August 06, 2019, 02:26:32 PM
Last edit: August 06, 2019, 02:39:51 PM by JSRAW

yes



Yes and yes i read it  Grin

Yes, you must!!



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August 06, 2019, 02:28:48 PM

I started buying in May 2014. I’ve never declared any tax at all. Correct me if I’m wrong but you only pay capital gains tax when you start to sell?

Only when you sell for fiat. If you convert to another digital asset you don't pay capital gains. At least not yet.
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