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

[Hueristic]

^^ damn, filter out the plague panic and we are right on track

It was necessary.  We needed the volume spike to seal the bottom of the bear market. 

We only had to sacrifice mindrust to seal the bottom. 

Yep.

Sad.

We tried NOT to do it..    

He threw himself on the sword.

[Icygreen]

5 figures pleases me

Purse.io still being open pleases me.

Just put in an order my wife has been preparing for the past month. Though the low price gave me an excuse to tell her she couldn't shop.

As much as I like the idea behind Purse... I can't support it now with slimy old Ver being involved. Any money lining his pockets is money used to try to twist narratives against BTC in my book

Not sure we should be concerned who invests or operates purse but ya, Roger has been a doink in the past and if he can create more incentive to use Bitcoin through purse, all the power to him.  I won't stop using purse because Roger has a stake, in fact I'd like to support him and perhaps this could be a redeeming and very constructive opportunity for such a guy.

[jbreher]

* BobLawblaw raises a beer and toasts the thread

HODL.

::clink!::

[JayJuanGee]

^^ damn, filter out the plague panic and we are right on track

It was necessary.  We needed the volume spike to seal the bottom of the bear market.  

We only had to sacrifice mindrust to seal the bottom.  

Yep.

Sad.

We tried NOT to do it..    

He threw himself on the sword.

That's a better way of saying it.

We could try to paint him as a saint, even though his words are probably going to undermine such status, because in essence, he thought that he was doing the sacrifice for himself, when in the end, the sacrifice ended up being for the rest of us.  He likely did not benefit much, if at all, from such a move, even though mentally he then believed that he did, and even currently, he will likely continue to rationalize his behavior in terms of being better for himself, which really takes a stretch of the imagination to come to such conclusions.

In the end, there were likely quite a few mindrusts in that last round, yet so far, mindrust has been the ONLY one to really come out and admit it and even to elaborate on his thinking around the topic.

Even though it is seeming a lot less likely that we are going to get a sub $3k correction in which he was planning, it is quite possible that we could get another really BIG correction that kind of coincides with other shit-hits-the-fan macro circumstances, .. but the farther that BTC prices go up, the harder it seems that it is going to be to have any kind of meaningful correction that really allows someone like mindrust to recuperate his previous position.. which as everyone likely recalls was selling in the mid $4ks, so I would consider even buying back anywhere close to $6k as a great recovery, under these particular current market circumstances.

One of the benefits of this whole situation, likely causes an ability for a quite a few guys (and perhaps a gal or two, too) to actually learn from the so many specifics of what mindrust provided to us, and probably our beating to death his situation has saved a few guys (and maybe a gal or two, too) from preparing themselves better in order to try to avoid getting into such a place (pickle) where they believe such a mindrust-like outcome will happen to them.  

[jbreher]

Seriously? I know that most of the WOers have been following Bitstamp since the creation of the thread but... when did we make Bitstamp a "standard" for the price reference?  

We didn't. JiGgly just likes to see him/herself type.

[JayJuanGee]

~snip~

I'm trying to give you some benefit of the doubt... if you happen to NOT recognize any difference between leveraged trading and futures and margin and other shenanigans, then maybe there is not a lot that can be done for you...

Oh Gawd... you literally took it all the way from just price referencing to trading. I've been through all of those trading types that you've mentioned; however, do you even know that BitMEX uses the following weights to maintain and come up with a single value?

You won't give up, will you.  You are doubling down on dumb.  That's just great.

This is pretty much equivalent to:

I use bitcoinaverage. Just seems sensible to use something like that.

You may have noticed that I use Bitcoinaverage in my morning greetings. I feel that an index of multiple exchanges gives a much more accurate price than any individual exchange and no index uses more exchanges worldwide than Bitcoinaverage. It's weighted by volume omitting no-fee exchange volumes.

And, fuck off with your nonsensical lil AI assertion(s).....

Mr. JÆJuanGee, that's just like your opinion man... Not everyone picks out the exchange name from someone's post and starts criticizing it in a separate post at a time when bitcoin's crossing a very strong psychological number.

Oh you are so fucking excited about the BTC price going up, so now all of a sudden you have to get sloppy and start referring to some manipulated exchange as if it were the reference price. 

When the BTC price is moving around a lot, it generally becomes more important to refer to a solid BTC price reference .. and frequently when the BTC price starts to move even more, the BTC prices get more and more out of alignment....

Of course, it could be possible that exchanges are NOT going to get out of wack, as much because the BTC market is getting BIGGER - but it is NOT too likely... and it is likely we are ging to continue to have shenanigans on various exchanges, and sometimes those price differences become an actual topic to discuss.. and try to figure out why price differences are happening. 

You were not trying to figure out BTC price differences in various locations.  Instead you were referring to the Bitmex BTC price as if it were an accurate reference price.... get a grip.. .and try to accept the 2015 Las Vegas agreement (or whatever the fuck it was called).. as mentioned by jojo (provided for your ease of reference, below).

when did we make Bitstamp a "standard" for the price reference?

the Vegas Accords of 2015

look it up

Otherwise, just try meditating.  That might help, too.

  You will thank me later for providing such help to you.. at least, you will be thankful on the far and deep inside.

[Millionero]

By the way, cafetools, if you cash out decent portions of your BTC along the way up to $20k or even $50k, if you get over anxious about cashing out too much too soon, then you may well run out of corns at various higher valuations.

You can avoid that problem by observing a Shannon rebalancing strategy.  Rational investing, or speculating, is about sizing your bets.  Kelly criterion illustrates the principle.
Then again, if corn hits $200k next year, I'm going to violate my own advice and sell most of my stack.

[JayJuanGee]

Seriously? I know that most of the WOers have been following Bitstamp since the creation of the thread but... when did we make Bitstamp a "standard" for the price reference?  

We didn't. JiGgly just likes to see him/herself type.

Yes, of course we are going to get agreement from jbreher... It's like jbreher is a great example of someone ready, willing and able to reach consensus...  right?  right?  right?


.....like when hell freezes over, for example.



This one is for you, jbreher.  Sorry; I had to do it.



You will thank me later.   

[Raja_MBZ]

I just literally merited both of you...

[JayJuanGee]

By the way, cafetools, if you cash out decent portions of your BTC along the way up to $20k or even $50k, if you get over anxious about cashing out too much too soon, then you may well run out of corns at various higher valuations.

You can avoid that problem by observing a Shannon rebalancing strategy.  Rational investing, or speculating, is about sizing your bets.  Kelly criterion illustrates the principle.
Then again, if corn hits $200k next year, I'm going to violate my own advice and sell most of my stack.

What you are saying sounds good in theory, because, yeah if the BTC price moves way too much, too fast, then in those circumstances many of us might get nervous about the sustainability of BTC prices.. .  but, personally, I would get really nervous about putting too much of my actual corn on any exchange to cash out in BIGLY increments.. especially all of it and fuck even 50% would be a potential problem to either have so much cash on exchanges or even dealing with banks or whatever to get it converted over, in the event that I want to make sure that I have possession of the value instead of it getting locked up for months or even longer.

You might need to explain it a bit more specifically about some of these concepts.. but I believe that I get what you are asserting, in theory.  Especially explain what the fuck is Shannon rebalancing strategy or Kelly criterion... at least your interpretation, links and maybe how they might apply to bitcoin... bitcoin is a kind of special beast, if you had not noticed.

By the way, in 2015-ish, when BTC prices were around $250, I had created a decently elaborate plan that involved quite a few specifics of a pretty heavy cashing out of BTC as the price went up, and so I kind of followed a plan for a while, including until BTC prices got to around $2k or $3k, but I found that I was winding up with way too fucking much fiat, so I felt that I needed to tweak my plan in order to lessen the amount of BTC that I was selling./.... because really my more elaborate plan of cashing out of bitcoin was on a longer time horizon.. .such as way further into the future... maybe even like mid 2020s-ish, but the point was that the cashing out plan was not supposed to be taking place in 2017... so I tweaked in order that I would not sell so much.

I might be experiencing some similar dilemmas, this time around (presuming that the BTC price goes shooting up), so I do feel that I am a bit more prepared for larger cashing out of BTC at various strategic locations, I still am NOT really feeling as if I want to cash out BIG proportions of BTC - even if I might end up losing based on some subsequent BTC price corrections that might come after BTC prices go to $200k in less than a year (if that were to happen).

So, maybe, since you brought up those ideas, Millionero, you may want to flesh them out a bit.  You do not necessarily give away your specific BTC holdings, but maybe describe in terms of percentages or timeline and how various BTC price performance scenarios (talking in terms of price movement in terms of quantity and time) might cause you to employ different cashing out behaviors.

[JayJuanGee]

I just literally merited both of you...

jbreher and I go way back... (or at least it seems like it)

It's like jbreher and I are good ole buddies who love to hate each other.  And, I am not even sure which one of us loves the hating moar better....

At some point, perhaps, jbreher will snap out of his bcash delusions that seems to be fogging his thinking in a lot of other regards, too, and that might help him out.. perhaps?  Perhaps?   There have been times that I thought that I was giving up on jbreher, but he does seem like he might have a few redeeming values, if you don't allow him to deviate at all into BIG BLOCKER nonsensical gobble-dee-gook.

In other words, jbreher might even have to take some "starting over" lessons from someone like mindrust..** I know that jbreher has a lot of respect and sympathy for members like jonoiv, but someone like mindrust could likely serve as a kind of better example that has different issues from jbreher but could kind of complement jbreher in various ways... so in that regard, it seems that jbreher might be able to get something out of a kind of "starting over" approach to bitcoin, as long as he can try to stay focused on bitcoin and don't get too caught up into believing scammers like Craig wright and some of the other nonsense that comes out of some of those camps and ends up getting repeated by the bear... .   

Or maybe the military would be better.  I know that jbreher is likely too old for the military, but getting some back to basics training and not allowing him to deviate into BIG BLOCKlandia could be helpful.

So, in essence, going back to bitcoin basics could potentially be helpful for jbreher..  perhaps?  Perhaps?


**don't get me wrong.. I am not saying that mindrust is really fixed in any kind of meaningful and helpful way, because in recent times, he seems to be devolving into more shitcoins too, but at least, I liked the idea of starting over, which could be helpful four our love-dovey picnic table snacker.

[Wekkel]

Some positive notes on Bitcoin's potential:
https://www.goldmoney.com/research/goldmoney-insights/time-to-learn-about-money?gmrefcode=gata

[El duderino_]

Hmmm to reach 10K again while waking up ... early morning though satisfied

The many messages of different friends always fun to see

[OutOfMemory]

After successfully combating murphys law in numerous manifestations, i finally managed to transfer my windoze installation to new hardware, while watching BTC go up to break $10k tonight.

#hodl

EDIT: Acronis, if you read this, i'll never buy your drive imaging software ever again, because it just sucks. Macrium Reflect FTW!

[VB1001]

Overcoming the 9,500 figure will cost work, the next step is to break 10,500, if we get there, the bears are defeated.

I did not expect to see this today, it has gone faster than I thought.



(Hi 10,074)  Now 9,892

This weekend will be interesting, FOMODL, thx, jojo69  

The bulls have to push more, at 10,500 the bears will be exhausted and the stampede will be epic.

#StrongHats

[spooderman]

I cannot believe that this thread is still going.

And Jimbo is still doing his morning greetings 

And JJG is still carrying on with his nonsense.

Ah, good to see you all again. Shame Adam isn't around anymore.

[El duderino_]

I cannot believe that this thread is still going.

And Jimbo is still doing his morning greetings 

And JJG is still carrying on with his nonsense.

Ah, good to see you all again. Shame Adam isn't around anymore.

Strange you can’t believe it....

This is the thread of threads on the forum...

It would be strange if it wasn’t going anymore

[spooderman]

While it's logical, it still shocks me.

Shroomskit still around? Or did he get sectioned yet?

[El duderino_]

While it's logical, it still shocks me.

Shroomskit still around? Or did he get sectioned yet?

Not around that I know...

Still the thread is fully correlated to BTC that’s why it’s still around 

[bitebits]

I was thinking an indicator of how immature the bitcoin (trading) industry still is, are the fees. Maker/Taker fees north of 0.5% are common across the exchanges. Compare that to the stock market, fees are close to zero.

There is little competition yet, but the business models of the current exchanges will be terminated once the big boys get in. Can’t see that taking a long time anymore (in a free market), there simply is too much money to be made.