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

[jojo69]

I am not at all sure that even a for real BTC style dildo would cheer me up at this point.

[JayJuanGee]

In a few years people will look back at the price of $68xx & be depressed at selling in that price range.

Please fellow HODLERS, don’t sell at this pathetic price - DON’T BE A GREG!

Whats more, If he had held on to them till today he would be getting close to $12,000,000
Something to think about guys.

Hardly doubt that someone who sold @0.30 would have HODLED on the way from 0.31 to 20,000 and back.
This is why this kind of "what if had I bought BTC in 2010" are just worthless speculation.
 

I agree that if someone is not a hardened holder it doesn't matter when he buys. He can sell anytime with a profit<100% or even without profit like mindrust. But if someone enters before 2016 and learns from his mistakes, he could make at least 10 fold profit waiting maximum 2  years. Now the new holders like me who entered in 2017 at prices around $4.4k, have a mere 50% profit. This is still beyond most of the stocks can provide, but it is not to be compared with 10 fold, not to speak 100 fold profits, which one could realize if the buy price was $200 in 2015 and the sell price $20K in December 2017. And there were much more dramatic crashes in the last 3 years than any time interval before that. So  for the new holders  it is becoming increasingly difficult both in terms of time and mental resilience to the crashes. I will be waiting for at least 10 fold profit, i.e., prices above $40K, but I realize that I will have to wait at least 1 more year for that. More probably 2-3 years and less probable (but still possible) more than 3 years. So at the end we compare 100 fold profits for 2 years with 10 fold profit for >5 years.  I am not saying that everyone made that profit, but with the best decisions in both eras, these are the numbers.

Yeah sure, the extremes are not as great in terms of the profits, and the extremes are also NOT as great in terms of the down, either - even though it might feel like we have been experiencing extreme downs, there have been some difficulties to go below certain price points... Of course, never say never, because it is possible that we could end up going back below $3,124 - even though the odds do not currently seem high, but before a couple of days ago many very smart people would have hypothesized that $0 would have been the lowest for oil futures ---- yeah I know that bitcoin is not oil... but still.

Regarding your various price targets of 10x profits etc; I am pretty sure that you had said that if you start to sell various amounts of your BTC, then you are likely to be skimming rather than playing it BIG with your sales, and again, we get back to the Mike Tyson idea that everyone has a plan until punched in the face, so sometimes I wonder when ideas are thrown all over the place about I might do this and I might do that and if the market does this, then I might do that.. blah blah blah...  

Yeah, we already know that the market can go all over the place, and I suppose if we attempt to factor in both price and time, then maybe there could be some justification to playing it BIGGER if the BTC price goes shooting up, but we have even seen some players get screwed pretty grandly in the past when they sold too much too soon on the way up, which causes them to carry out additional dumb things that ended up growing out of their earlier dumb thing.... sometimes dumbs can end up compounding, even when we had thought that we had a pretty good plan that we try to tweak, but we end up playing our tweakening TOO MUCH BIGGIE.

[edited out]

The world is full of Gregs. Wait until we get to $1,000,000 or $5,000,000 and most people on here sold at $25k-$100k. Never go full retard, no matter the price.

Hahahahahaha

Exactly!!!!!

[infofront]

I am not at all sure that even a for real BTC style dildo would cheer me up at this point.

At least try it first, before you dismiss it.

[JSRAW]

Party pooper.

[Last of the V8s]

[Cryptotourist]

I am not at all sure that even a for real BTC style dildo would cheer me up at this point.

Maybe a proof of gif - of young Ibian's - many success stories:

[fillippone]

Yeah all you need do is lock it all up nice and safe in a hardware wallet and wait 10-15 years

WARNING: DO NOT TRY THIS AT HOME

A friend of mine consolidated all his UTXO's in one and DELIBERATELY destroyed two words in his seeds.
So he's locked out from his funds, until a decent computing power comes at his hands (some time in the future required).
AND in any case cannot spend the coins overnight.


EDIT: Added disclaimer due to JJG concern.

[JayJuanGee]

In a few years people will look back at the price of $68xx & be depressed at selling in that price range.

Please fellow HODLERS, don’t sell at this pathetic price - DON’T BE A GREG!

Whats more, If he had held on to them till today he would be getting close to $12,000,000
Something to think about guys.

Hardly doubt that someone who sold @0.30 would have HODLED on the way from 0.31 to 20,000 and back.
This is why this kind of "what if had I bought BTC in 2010" are just worthless speculation.

Exactly.  We hear these kinds of bullshit talking points about HODLing through the UPs and DOWNs all the time, and it is really difficult to NOT to skim off a decent chunk of your BTC just to buy a playstation or to upgrade from a Honda to a Bimee.

HODLing and getting richie remains way the fuck more difficult than the detached from reality speculations regarding all of the "what ifs"

Yeah all you need do is lock it all up nice and safe in a hardware wallet and wait 10-15 years

Gosh.

I don't know about that.

Maybe I am my own worst enemy, but I feel that I have to check on matters once in a while... maybe at least once a quarter, but I suppose once or twice a year might be good enough, too.  

I had heard about the maintenance of bitcoin "watch only" addresses, but I had never really done that.  

So, far in my bitcoin practices, I have usually wanted to check on my bitcoins from time to time to make sure that I can still access them, and maybe even considering whether I feel that I might need to move a few around, too.. or maybe divide them up into different locations.. even though I recognize, too, that sometimes moving coins around might not be the greatest of ideas, either.  So, sometimes difficult to know how "cold" any of us might want to maintain our "cold" storage to be on a regular basis as a kind of "best practice" - or if there is such a thing as a "best practice" in these regards.

Yeah all you need do is lock it all up nice and safe in a hardware wallet and wait 10-15 years

A friend of mine consolidated all his UTXO's in one and DELIBERATELY destroyed two words in his seeds.
So he's locked out from his funds, until a decent computing power comes at his hands (some time in the future required).
AND in any case cannot spend the coins overnight.

That sounds like somewhere in the neighborhood of "pure crazy."  Maybe some people are their own worst enemy in their desire to either be extreme in their measures in their attempt to recognize their own lackings of self-control.

[vapourminer]

getting a trezor from amazon? eeeeeewwww good way to get rekt

get it from slush/satoshilabs

[bkbirge]

WARNING: DO NOT TRY THIS AT HOME

A friend of mine consolidated all his UTXO's in one and DELIBERATELY destroyed two words in his seeds.
So he's locked out from his funds, until a decent computing power comes at his hands (some time in the future required).
AND in any case cannot spend the coins overnight.

That sounds insane. I'd tend to think if someone has that little self control then they shouldn't be in this space at all.

[Biodom]

By that image he meant that this Trezor was tampered with, obviously.
Not sure if you can simply erase it afterwards, then reinstall the firmware.

Re hodling-I start to think (as years go by) that I don't want to hodl forever.
When pressure to sell becomes unbearable-give yourself a present and sell, say, 1%.
Unfortunately, Deribit is not available in US, but Ledgerx is, so maybe enter into a long term option contracts to buy or sell a small part.
So, if it rises above or drops below certain number (that you choose), a small portion would be taken away in lieu of cash.
I am too old school to give btc to blockfi and/or celsius as I don't think that it is safe.

[bitserve]

Yeah all you need do is lock it all up nice and safe in a hardware wallet and wait 10-15 years

WARNING: DO NOT TRY THIS AT HOME

A friend of mine consolidated all his UTXO's in one and DELIBERATELY destroyed two words in his seeds.
So he's locked out from his funds, until a decent computing power comes at his hands (some time in the future required).
AND in any case cannot spend the coins overnight.


EDIT: Added disclaimer due to JJG concern.

Only two words? Considering one is checksum, that's only 2048 tries IIRC.

Why did he do that though?

[Last of the V8s]

yes don't

get a trezor (get a coldcard)
get it from amazon (get it direct from the maufacturer)  
fail to notice the opened package  
fail to notice the tampered-with tamper-proof seal  
fail to service your wealth 

[Elwar]

Yeah all you need do is lock it all up nice and safe in a hardware wallet and wait 10-15 years

WARNING: DO NOT TRY THIS AT HOME

A friend of mine consolidated all his UTXO's in one and DELIBERATELY destroyed two words in his seeds.
So he's locked out from his funds, until a decent computing power comes at his hands (some time in the future required).
AND in any case cannot spend the coins overnight.


EDIT: Added disclaimer due to JJG concern.

I created a private key and deliberately deleted the first character.

I will have to wait until quantum computing reaches the insane amount of calculations it would require to figure out what my private key is. I hope I am still alive by then.

[jojo69]

A friend of mine consolidated all his UTXO's in one and DELIBERATELY destroyed two words in his seeds.
So he's locked out from his funds, until a decent computing power comes at his hands (some time in the future required).
AND in any case cannot spend the coins overnight.

hard fucking core...wow

that is some next level HODL right there

o7

[Biodom]

Yeah all you need do is lock it all up nice and safe in a hardware wallet and wait 10-15 years

WARNING: DO NOT TRY THIS AT HOME

A friend of mine consolidated all his UTXO's in one and DELIBERATELY destroyed two words in his seeds.
So he's locked out from his funds, until a decent computing power comes at his hands (some time in the future required).
AND in any case cannot spend the coins overnight.


EDIT: Added disclaimer due to JJG concern.

I created a private key and deliberately deleted the first character.

I will have to wait until quantum computing reaches the insane amount of calculations it would require to figure out what my private key is. I hope I am still alive by then.

^^^that is hilarious.
 

[vapourminer]

yes don't

fail to notice the opened package 
fail to notice the tampered-with tamper-proof seal 

wait wut?

i figured the package and seal were just extra quality control steps.. maybe disinfecting for covid

edit: didnt even notice the seal i stopped looking as soon as seeing the amazon package lol

so many wrongs in that image

[Biodom]

A friend of mine consolidated all his UTXO's in one and DELIBERATELY destroyed two words in his seeds.
So he's locked out from his funds, until a decent computing power comes at his hands (some time in the future required).
AND in any case cannot spend the coins overnight.

hard fucking core...wow

that is some next level HODL right there

o7

don't worry, his GF captured those two (maybe more) on her cell phone.

[JayJuanGee]

By that image he meant that this Trezor was tampered with.
Not sure if you can simply erase it afterwards, then reinstall the firmware.

Re hodling-I start to think (as years go by) that I don't want to hodl forever.
When pressure to sell becomes unbearable-give yourself a present and sell, say, 1%.
Unfortunately, Deribit is not available in US, but Ledgerx is, so maybe enter into a long term option contracts to buy or sell a small part.
So, if it rises above or drops below certain number (that you choose), a small portion would be taken away in lieu of cash.
I am too old school to give btc to blockfi and/or celsius as I don't think that it is safe.

Practically, it seems that all of us should be planning to sell portions of our BTC at some point, whether we are selling for various products or for cash in order to hedge or other related reasons, there should be some plans to sell (which might merely include reallocations from time to time).  

In other words, planning to live forever is not a realistic plan, and holy bejesus, don't most of us want to attempt to profit somewhat from riches that we have been acquiring through our lives (including the bitcoin portion of that value)?

  Yeah, maybe we are able to generate plenty of less valuable forms of value that we would spend those other forms of value first within gresham's law principles, but it still seems that ONLY the minority of us (especially if we are participating in a thread like this) would fit into a kind of category that we would make a BTC lifetime plan that does not involve any cashing out any of our BTC or attempting to benefit on a personal level in some regards from the likely asymmetrical profits that bitcoin is likely to bring (and continue to bring) to our richie status.  

[JayJuanGee]

Yeah all you need do is lock it all up nice and safe in a hardware wallet and wait 10-15 years

WARNING: DO NOT TRY THIS AT HOME

A friend of mine consolidated all his UTXO's in one and DELIBERATELY destroyed two words in his seeds.
So he's locked out from his funds, until a decent computing power comes at his hands (some time in the future required).
AND in any case cannot spend the coins overnight.


EDIT: Added disclaimer due to JJG concern.

Only two words? Considering one is checksum, that's only 2048 tries IIRC.

Why did he do that though?

Wow!!!!!(I am not kidding) 

There might be a method to the madness.  Only 2048 times, that is way fewer than I would have thought .