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

[jojo69]

The trick here is to not get culled.

any tips?

(asking for a friend)   

Stay away from large population centers.

Reduce dependency on centralized supply networks for water/food/power.

Do not appear to have much of anything worth taking, either by mutant biker zombies or overzealous redistributors.

Be well armed.

Develop interdependent community with other resilient households.

Avoid obvious infection vectors; the flu shot, fast food, municipal water etc.

Stock vital spares.

HODL.

[bkbirge]

Needs one extra scene where a lion runs by and grabs one of the guys getting the sunshine, you can label it "regulators".

[_javi_]

Whats this crap about alts on the green and btc being tiny red?

Anon prediction about BTC dominance at 40-46%? He never said when.. but but...

[VB1001]

CFTC Taps Coinbase Lawyer to Head Division Overseeing Bitcoin Futures

The U.S. Commodity Futures Trading Commission (CFTC) has just named Coinbase vice president Dorothy DeWitt as its new market supervisor.

CFTC Chairman Heath Tarbert announced in a press release Tuesday that DeWitt, who is also the exchange’s general counsel for business lines and markets, will be the new director of the Division of Market Oversight (DMO), the group responsible for overseeing derivatives platforms and products, including the young market for bitcoin futures.

DeWitt has also spent time at Citadel Securities, S&P Global and Davis Polk & Wardwell, and has previously been a portfolio manager.

Her new role will see her evaluating and potentially approving new bitcoin derivatives products in the U.S. DMO has examined CME, Cboe and Bakkt’s various bitcoin futures proposals in the past.

She succeeds former DMO director Amir Zaidi, who oversaw the first bitcoin futures contracts as they entered the crypto space in late 2017.

https://www.coindesk.com/cftc-taps-coinbase-lawyer-to-head-division-overseeing-bitcoin-futures

[JayJuanGee]

This is getting boring.

Only a couple weeks to Q4 and still over $10K though. The only thing I would not expect at all is the price to keep sideways for too much longer.

Anyway... this is (still) fine.

Fine does not equal boring


and


Boring does not equal fine




Not in bitcoinlandia.


Get a grip, or I am sending batman out.         

There was no claim of a necessary relationship between the two. Just that the two occurred at the same time.
For someone so fond of writing you're quite shit at reading.

On a different note. Nice to see you're working on that brevity thing. Could still cull some dead space though.

Don't you have some BIG blocks to promote somewhere else, fatty?   Or you want to pleasure us with your BIG block worshiping, even though in these parts, we don't give any shits about your various bitcoin attack vector predilections and wishing for onchain scaling or whatever other nonsensical talking points might be your current whining hobby in thinking that there is something wrong with bitcoin.

There you go! Reasonably short without all that dead space. Well done!

Big blocks? Yah, what can I say. Follies of youth I guess. Sure good there was nothing to worry about.

https://cryptobriefing.com/ln-nodes-lightning-network/

I suppose that it is good if you are progressing towards coming around, but I see that since you are exaggerating lack of progress with lightning network as some kind of thing that you should spend time "worrying about," you are still inclined towards hissy fits and whining over matters that are "in progress"

I suppose that bitcoin is the worst decentralized project out there, except for all of the rest. hahahahaha... Anyhow, there might be some hope for you, if you at least recognize that your BIG block nonsense has some follies,  even though you seem to be admitting such "follies" with a bit too much reservation and a bit too much "wanting to be kind of right"

[JayJuanGee]

Bluebutts also seems to have a case of tarditus thinking JJG needs for Bitcoin to get to 100k to make money, the guy has been hodling good stash since 2014, pretty sure he is already set up well for life by the grace of our Lord and Savior King Bitcoin.

Of course, we have to take nearly everyone's assertions regarding their BTC stash or their profitability with a grain of salt; however, I would dare you to find meaningful inconsistencies in my representation of my BTC stash or my profits or even my trading practices which have remained pretty damned consistent even while tweaked and based largely on a BTC HODLing approach.


Anyhow, I had done a decent amount of accumulating of BTC in 2014 and brought my average BTC price down from $1k to below $400, and I also made some mistakes including getting hacked through sim porting, which moved my average price per BTC up to $750-ish.  I have also lost some BTC on exchanges such as WEX (used to be BTC-E), so I consider those to be risks of the practice and probably, I should have taken more value off of that exchange while the getting was good.... but these days, I probably would consider my average cost per BTC to be somewhere above $750 but still in the three digits.

Chances are pretty decent that many of us who have largely engaged in HODLing and accumulating BTC have done quite well for ourselves, even if we may have made some mistakes along the way.   

In my particular case, I was already pretty well off before I got into bitcoin, so the portion that I invested in Bitcoin was considered extra money on the side that I wanted to attempt to at minimum average the same as my other investments which had historically returned about 5.5% annually through the UPs and downs, even though I was also o.k. if BTC returned less than my historical investments because I was taking a chance on something that I considered to be new, interesting and a hedge (in case shit hit the fan, kind of a gold substitute). 

It took a bit more than 2 years of investing into BTC (between late 2013 and early 2016) before I really started to feel that my BTC investment was largely holding its own.  It was not quite to 5.5% profitable or better, but it was largely retaining its value in terms of how I had begun to play around with my investment (that is keeping some of my portfolio in dollars and some in BTC by selling on the way up and buying on the way down).  It took more than 3 years of my investing in BTC before I started to feel quite profitable, and hey I had some decently pie in the sky bullish scenarios that would make me quite happy with BTC prices in the $3k to $5k range, and so that was a kind of BTC has made me rich range - so currently I would assert that I am about 2-3x beyond my most bullish (while conservative) expectations.

So really any more BTC price appreciation makes me more rich, but even going down to $3-$5k, I am still rich.  So, I continue to feel decently confident in what seems to be the downside possibilities of BTC and the fact that I am doing quite well with my BTC investment, even at today's prices and even if BTC prices fall down to $5k.  On the other hand, I believe it is more than reasonable that BTC prices are going to continue to go up from here and a lot of us HODLers and accumulators are just going to continue to become more and more rich.

I doubt that anyone who rummages through my old post is going to find any meaningful or material inconsistencies from the rendition that I provided above, and sure sometimes the way that I phrase my situation my change through time, but it seems to me that anyone who provides too many details is just playing too much with fire, in terms of OPsec.  Accordingly, I believe that I have been more than generous with my details because I continue to come here to attempt to brainstorm with members about various BTC strategies and tactics, and for you fucking trolls and shills, out there, who fail/refuse to provide any of your personal details, then it is mostly difficult to take you seriously about any of your theoretical pie in the sky perspective... or even no coiner perspective regarding the supposed "future of BTC" blah blah blah.

[Paashaas]

Whats this crap about alts on the green and btc being tiny red?

Anon prediction about BTC dominance at 40-46%? He never said when.. but but...

This prediction means that shitcoins without any justified fundamentals shares a (multi) trillion $ market cap...

I have a hard time believing this.

[Raja_MBZ]

Whats this crap about alts on the green and btc being tiny red?

Anon prediction about BTC dominance at 40-46%? He never said when.. but but...

TBH, I don't believe in Anon's predictions; however, I do believe that BTC has reached its dominance top (at least temporarily):



It's not very easy to fix a broken parabola.

[jojo69]

It's not very easy to fix a broken parabola.

JB Weld

[bkbirge]

Anyhow, I had done a decent amount of accumulating of BTC in 2014 and brought my average BTC price down from $1k to below $400, and I also made some mistakes including getting hacked through sim porting, which moved my average price per BTC up to $750-ish.  I have also lost some BTC on exchanges such as WEX (used to be BTC-E), so I consider those to be risks of the practice and probably, I should have taken more value off of that exchange while the getting was good.... but these days, I probably would consider my average cost per BTC to be somewhere above $750 but still in the three digits.

+WO merit since I'm out of the regular, thanks for sharing your story. I had a coworker that introduced me to it maybe in 2014 or so but I didn't understand the draw, at the time it seemed overly complicated for no benefit and I wasn't looking at it as an investment vehicle just as an interesting technology. Mid 2017 I got in, shortly before the big run and that made me think I'm a genius rather than just lucky and I evangelized to my family and friends. Some of my family bought in then of course at the high. They are still holding though they haven't added to their positions, whereas I've been faithfully DCA'ing ever since. My amounts and entry point mean I probably won't become personally life-changing wealthy but I'm hopeful it will accent my retirement and provide some easing through life's ups and downs for my kid. I tend to look at it as an inter generational wealth opportunity. Though I'm a confirmed hodler I have several dream benchmark levels to encourage myself...
1. mortgage payoff
2. retirement at 80% of current lifestyle level
3. retirement at 120% of current lifestyle level
4. kid's entire college tuition
5. kid's entire college tuition at a top tier school through grad school
6. retirement at 120% level before I hit actual retirement age
7. medical emergency care fund equivalent to 2x mortgage payoff
8. being able to do the same for my family
9. own first hotel on the lunar surface

[VB1001]

Bitcoin Trading: 7 Tips to Detach Your Emotions From Your Portfolio

Acknowledge fear vs. greed
Failing to plan is planning to fail
Treat trading like a business
Never watch the scoreboard
Know when to trade
Trade with the proper size
Have a life outside of trading

https://cointelegraph.com/news/bitcoin-trading-7-tips-to-detach-your-emotions-from-your-portfolio

The last is the most important, be it a trader or a Hodler.

[mindrust]

It's not very easy to fix a broken parabola.

This will be painful to watch. Looks like %55 may be next. I'll try to increase my ALT* exposure to %2 and will cash out to BTC if it ever reaches %10. Sounds like a decent plan.

*By "ALT"s I mean LTC, XMR, Grin, Doge (maybe), Raven. Not absolute shits like ETH, Ripple, Bcash etc.

[kurious]

Roger is on, go get your popcorns. 

lol Roger... what an enigma. I'd love to know where he went so wrong. I actually think he has had some sort of mental break

He definitely cares about that red stuff. He went nuts when Carvalho said "bcash" too. He definitely cares about these. Go and break him.  

That would be the scene to watch.

Well that was fun. Think he's logged off, physically and mentally. He'll be back in another 3-6 months to show how little he's changed.

Interesting to read a debunking of the 'in jail for fireworks' line:

I somehow don't believe his story of going to jail for 10 months for selling firecrackers on ebay.  I think there is something to the story he is leaving out.

Here's a transcript of the sentencing hearing, detailing exactly why he was sentenced to 10 months in jail, including the parts of the story he may have left out. Spoiler alert: pipe bombs aren't firecrackers.

[Raja_MBZ]

It's not very easy to fix a broken parabola.

JB Weld

Wow, can't believe it worked!!

[soxxx]

Whats this crap about alts on the green and btc being tiny red?

Anon prediction about BTC dominance at 40-46%? He never said when.. but but...

My theory about this is that when the mainstream coins like Libra hit the market, they will bring the Bitcoin dominance down because they will be pumped/inflated. Im sure next year we will see Google, Apple, Amazon, etc all jump in. Bitcoins dominance will have to compete with those coins to which would likely bring the dominance down.

P.S. this guy is going to become an absolute god if we hit $16,000 next month.....

-He called the bottom (A lot of people thought we were going much lower when he posted it)
-He called the exact length of the accumulation phase (Said it would end in March and start in April)
-He called the April boom we saw in the first week
-He called the correct price in April
-He called the correct price in July (Bitcoin almost made it out of July without touching $9200, turns out $9100 was the bottom; we haven't gone lower since)

So October will be interesting, this is a legendary posts regardless, the amount of things he has gotten correct already is remarkable.

[mindrust]

My theory about this is that when the mainstream coins like Libra hit the market, they will bring the Bitcoin dominance down because they will be pumped/inflated.

Im sure next year we will see Google, Apple, Amazon, etc all jump in. Bitcoins dominance will have to compete with those coins to which would likely bring the dominance down.

CMC can suck anything for money but I think even they haven't lost their mind that much to list Libra as a cryptocurrency.

I don't believe Facebook will join that MarketCap rat-race neither.

[fillippone]

Anyhow, I had done a decent amount of accumulating of BTC in 2014 and brought my average BTC price down from $1k to below $400, and I also made some mistakes including getting hacked through sim porting, which moved my average price per BTC up to $750-ish.  I have also lost some BTC on exchanges such as WEX (used to be BTC-E), so I consider those to be risks of the practice and probably, I should have taken more value off of that exchange while the getting was good.... but these days, I probably would consider my average cost per BTC to be somewhere above $750 but still in the three digits.

+WO merit since I'm out of the regular, thanks for sharing your story. I had a coworker that introduced me to it maybe in 2014 or so but I didn't understand the draw, at the time it seemed overly complicated for no benefit and I wasn't looking at it as an investment vehicle just as an interesting technology. Mid 2017 I got in, shortly before the big run and that made me think I'm a genius rather than just lucky and I evangelized to my family and friends. Some of my family bought in then of course at the high. They are still holding though they haven't added to their positions, whereas I've been faithfully DCA'ing ever since. My amounts and entry point mean I probably won't become personally life-changing wealthy but I'm hopeful it will accent my retirement and provide some easing through life's ups and downs for my kid. I tend to look at it as an inter generational wealth opportunity. Though I'm a confirmed hodler I have several dream benchmark levels to encourage myself...
1. mortgage payoff
2. retirement at 80% of current lifestyle level
3. retirement at 120% of current lifestyle level
4. kid's entire college tuition
5. kid's entire college tuition at a top tier school through grad school
6. retirement at 120% level before I hit actual retirement age
7. medical emergency care fund equivalent to 2x mortgage payoff
8. being able to do the same for my family
9. own first hotel on the lunar surface

+1WO. (because I am in smerit drought)
Very nicely put.
Something is good to fix exit points. Having target means you have an opportunity to re-evaluate your investments and decide how to proceed.
Something you should constantly do, but human nature is complicated so  we are not adapt to reason in the continuum of the financial markets: we need steps.

[soxxx]

My theory about this is that when the mainstream coins like Libra hit the market, they will bring the Bitcoin dominance down because they will be pumped/inflated.

Im sure next year we will see Google, Apple, Amazon, etc all jump in. Bitcoins dominance will have to compete with those coins to which would likely bring the dominance down.

CMC can suck anything for money but I think even they haven't lost their mind that much to list Libra as a cryptocurrency.

I don't believe Facebook will join that MarketCap rat-race neither.

Agreed, I guess that will be up for debate when the time comes. Same with the government currency like Chinas?

[mindrust]

My theory about this is that when the mainstream coins like Libra hit the market, they will bring the Bitcoin dominance down because they will be pumped/inflated.

Im sure next year we will see Google, Apple, Amazon, etc all jump in. Bitcoins dominance will have to compete with those coins to which would likely bring the dominance down.

CMC can suck anything for money but I think even they haven't lost their mind that much to list Libra as a cryptocurrency.

I don't believe Facebook will join that MarketCap rat-race neither.

Agreed, I guess that will be up for debate when the time comes. Same with the government currency like Chinas?

Yes. Same idea. CMC shouldn't list Ripple neither but I am pretty sure Ripple Corp paid them well to suck that thing.

I'll explain why think like the I way think.

A cryptocurrency should be immutable, decentralized.

Everybody knows there will ever be 21m bitcoins and not 1 more. Everybody knows bitcoin's future inflation rate will be.

These features apply to many decent altcoins too. These are consensus rules.

Ripple has no consensus. Libra has none. Whatever currency will the Chinese be issuing don't have them neither. Libra is basically tether on steroids. It is just a combination of FIAT and assets(!). You can see the FED's balance sheet right now. It goes up, it goes down. Somebody is deciding this. Not many people but only a few. This is centralized. Libra is centralized. Ripple is a centralized shitcoin. Government coins are centralized.

Government coins can't be decentralized because if they do, there won't be any need for a government. So they ain't any fucking crypto. They are just FIAT without any physical papers. More of the same.

I used to think what if BTC becomes successful and replaces the physical papers? I didn't like that idea at first. To me physical paper money is a good thing. When there is enough demand for them, the banks can't provide you the liquidity and they go bankrupt. This is the safety valve which keeps the system healthy. If a bank can't provide you the liquidty, it means they don't have your money. The bank shouldn't exist.

When too many shitty zombie companies emerge, a crash happens and they go away. The system keeps itself in check. They want to remove this by issuing crypto like currencies and banning physical money.

Bitcoin isn't something like that. Not even close. You either have bitcoins or you don't.

Bitcoin Is A Hedge Against Gov't "Fiscal Irresponsibility", Analyst

“The hardest money in human history”

[VB1001]

Lithuania: Narvesen Stores and Lithuanian Press Kiosks to Sell BTC

No Know Your Customer checks

No ID or other documents will be required to convert euros into Bitcoin acquired with the coupon. All a user needs is an email address and a Bitcoin wallet address. Raimundas Asauskas, the owner of Rebiton, the service processing the coupons, suggested this is of no regulatory concern:

“While we have greatly simplified the process of acquiring Bitcoin, we strictly comply with money laundering, fraud prevention and other legal requirements regarding our operations. We also make sure there are no abuses. We perform evaluation and validation of email and IP addresses using solutions from partners providing similar services to brands such as Disney, IBM, American Airlines or Santander."

https://cointelegraph.com/news/lithuania-narvesen-stores-and-lithuanian-press-kiosks-to-sell-btc

Flights will increase to visit the country.