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

[yefi]

I did help a friend buy some in 2014 at $600, who sold at just over $200 because he couldn't stomach the drop. Never again.

I considered recommending it in the $200s, but thought better of it. Most people will hold a hidden resentment against you if it drops, and their loss will become your burden.

[MarySue]

Support at ~1225$ looks quite solid, as the resistance at ~1240$. Looks like there will be a sideways movement for now.

[gentlemand]

Bitcoin is eventually going to be priced above it's realizable potential and that tipping point will hurt big time. I think this is to come in 10 years or so...

What does this mean?

[york780]

it mean HODL for 10 years and then dump everything you got  

[Ted E. Bare]

Taking out $1300 over the weekend?

[cmacwiz]

Bitcoin is eventually going to be priced above it's realizable potential and that tipping point will hurt big time. I think this is to come in 10 years or so...

What does this mean?

We all think (mostly) that bitcoin/blockchain has a bright future, with layers and an ecosystem built on top of the immutable ledger. Part of the price of bitcoin I think is potential utility in addition to current utility.
Many applications will be realized and the price will climb in good faith that there is still potential yet to be realized, all as people hop on the train. At some point we will plateau w.r.t. to potential, causing a shift in how the market works (end of bubble cycles maybe). Kinda like "it is what it is" instead of "it is going to be amazing".

Maybe this is already happening; things we already expected have not come to fruition (LN, sidechains) and we just accept bitcoin as digital gold, a store of wealth (fat chance!).

I don't really know...

[gentlemand]

it mean HODL for 10 years and then dump everything you got  

Fair enough. A price beyond its 'realisable potential' sounds pretty darned high to me. I supposed I'll let it go and invest my fortune in teaching worms English.

[marcus_of_augustus]

I did help a friend buy some in 2014 at $600, who sold at just over $200 because he couldn't stomach the drop. Never again.

I considered recommending it in the $200s, but thought better of it. Most people will hold a hidden resentment against you if it drops, and their loss will become your burden.

... and it can be even weirder than that. Many people will also resent you if you recommend a winner and they don't buy and it goes up ... basically any time you put yourself in the situation of "i'm right, you're wrong" or "i'm wrong, you're right" and there's financial advantage involved, they will resent you ... it's lose-lose.

Strangely, if you charge them exorbitant fees and call yourself a "financial adviser" all that burden goes away and you can gamble with their funds like a drunken sailor.

[InvoKing]

Taking out $1300 over the weekend?

Probably this will happens over the weekend but here is the answer of Friday :

[Meuh6879]

Gold parity = Check complete.

[Meuh6879]

Next target : Diamond parity.

[ImI]

I did help a friend buy some in 2014 at $600, who sold at just over $200 because he couldn't stomach the drop. Never again.

I considered recommending it in the $200s, but thought better of it. Most people will hold a hidden resentment against you if it drops, and their loss will become your burden.

... and it can be even weirder than that. Many people will also resent you if you recommend a winner and they don't buy and it goes up ... basically any time you put yourself in the situation of "i'm right, you're wrong" or "i'm wrong, you're right" and there's financial advantage involved, they will resent you ... it's lose-lose.

Strangely, if you charge them exorbitant fees and call yourself a "financial adviser" all that burden goes away and you can gamble with their funds like a drunken sailor.

Yeah, Friends&Family and financial advice is a VERY difficult subject.

[york780]

Indeed. You know that they can benefit from the holy mighty bitcoin. But they are to proud and stubborn to admit that bitcoin is great and that they were wrong.

[Punisher1314]

I did help a friend buy some in 2014 at $600, who sold at just over $200 because he couldn't stomach the drop. Never again.

I considered recommending it in the $200s, but thought better of it. Most people will hold a hidden resentment against you if it drops, and their loss will become your burden.

... and it can be even weirder than that. Many people will also resent you if you recommend a winner and they don't buy and it goes up ... basically any time you put yourself in the situation of "i'm right, you're wrong" or "i'm wrong, you're right" and there's financial advantage involved, they will resent you ... it's lose-lose.

Strangely, if you charge them exorbitant fees and call yourself a "financial adviser" all that burden goes away and you can gamble with their funds like a drunken sailor.

Yeah, Friends&Family and financial advice is a VERY difficult subject.

True fact. Just today my father said me that i should sell a portion, and thinking in it better i passed to explain him my expectatives lol.

[Torque]

it mean HODL for 10 years and then dump everything you got  

Nope, fiat purchasing power will continue to erode against bitcoin ad infinitum.

[ImI]

I did help a friend buy some in 2014 at $600, who sold at just over $200 because he couldn't stomach the drop. Never again.

I considered recommending it in the $200s, but thought better of it. Most people will hold a hidden resentment against you if it drops, and their loss will become your burden.

... and it can be even weirder than that. Many people will also resent you if you recommend a winner and they don't buy and it goes up ... basically any time you put yourself in the situation of "i'm right, you're wrong" or "i'm wrong, you're right" and there's financial advantage involved, they will resent you ... it's lose-lose.

Strangely, if you charge them exorbitant fees and call yourself a "financial adviser" all that burden goes away and you can gamble with their funds like a drunken sailor.

Yeah, Friends&Family and financial advice is a VERY difficult subject.

True fact. Just today my father said me that i should sell a portion, and thinking in it better i passed to explain him my expectatives lol.

Yeah, and they never listen. I have some friend and gave him early last year the advice to buy some ETH with around 20% of his overall crypto investment. He did. The next day i wake up and look at my whatsapp. 5 messages from him. "Hey dude you know Ripple!? Its da shit! And do you know Lisk!? Its da shit!"

Turns out he went to Polo, listened to the silly trollbox and invested all of that remaining 80% in Ripple, Lisk and some other shit.  

Seriously if they don't respect your advice...

[BTCtrader71]

Indeed. You know that they can benefit from the holy mighty bitcoin. But they are to proud and stubborn to admit that bitcoin is great and that they were wrong.

True. And we should also keep in mind that it can be a bit presumptuous of us to expect someone to invest into what would appear to them to be a get-rich-quick scheme (or get rich slow ... whatever), something that they have absolutely NO comprehension of, based purely on ONE person's belief that it's the next big thing. Try to imagine how it would feel if the tables were reversed.

[BTCtrader71]

wait, wait ... something feels wrong ... something's not quite right ... OMG, I just realized: I haven't checked the bitcoin price in nearly FIFTEEN MINUTES!!! How could I have let that happen!!!?!?!?!

[marcus_of_augustus]

time for a bigger boat?

[ImI]

time for a bigger boat?

i am more of an car guy