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

[bones261]

Unfortunately, I am nowhere near feeling that this awesome rise is "life changing." Probably because I've only been dicking around with cryptocurrencies for the past two years with chump change. My hats off to those who are now rich. Just remember to quit while you are ahead.

I know several people who are very similar to you.

They do not invest, and they continue to tell people to pull out their principle, protect themselves, protect themselves, so yeah, I don't know at what point you kind of people get in.  Maybe once 30 to 40% of the world are in, then you will get in?

Anyhow, sometimes we have to invest a bit and then just stay the course and just write off our principle.

Yeah, nothing wrong with cashing out a bit here and there to protect ourselves, but we should not be so narrow sighted as to be worried about retrieving our principle because we may end up leaving ourselves under-invested in a highly appreciating asset.

Well, since there are only 21 million coins that will ever be available, if 1 billion people decided to hold bitcoin (which is way less than the 30-40% you give,) that would only be .02BTC available per person. I currently hold 1.3 BTC. That would be way above the average. Also, I already cashed out my original investment, long ago, so this 1.3 BTC that I have right now is all gravy.  

[Meuh6879]

Just remember to quit while you are ahead.

and that's why somes members care about network feature (and speed, stability and efficiently) and others, about the price.

well, traders are good for dispatch ... but not for the long term network evolution.
and this is good : traders are youngs, nodes are seniors and developpers ... are blood.

A network for the next 100 years.





and perhaps, more applications, too ...

[lightfoot]

I can understand cashing out little by little, but what you gonna do with your money if you cash out all of them?

Oh I don't know. That's a pair of luducrous mode Teslas, so you and your partner can race each other on the streets (since there is really nothing else you CAN race with one of those things.)

[Meuh6879]

yes you can ... but it's more expensive.
https://www.youtube.com/watch?v=iCd32Eiuxak

[JayJuanGee]

Unfortunately, I am nowhere near feeling that this awesome rise is "life changing." Probably because I've only been dicking around with cryptocurrencies for the past two years with chump change. My hats off to those who are now rich. Just remember to quit while you are ahead.

I know several people who are very similar to you.

They do not invest, and they continue to tell people to pull out their principle, protect themselves, protect themselves, so yeah, I don't know at what point you kind of people get in.  Maybe once 30 to 40% of the world are in, then you will get in?

Anyhow, sometimes we have to invest a bit and then just stay the course and just write off our principle.

Yeah, nothing wrong with cashing out a bit here and there to protect ourselves, but we should not be so narrow sighted as to be worried about retrieving our principle because we may end up leaving ourselves under-invested in a highly appreciating asset.

Well, since there are only 21 million coins that will ever be available, if 1 billion people decided to hold bitcoin (which is way less than the 30-40% you give,) that would only be .02BTC available per person. I currently hold 1.3 BTC. That would be way above the average. Also, I already cashed out my original investment, long ago, so this 1.3 BTC that I have right now is all gravy.  

Ok.  That is a fair enough perspective.

One thing is knowing about bitcoin and not investing and another thing is not knowing about bitcoin and not investing.

But, sure, you have to decide for yourself, so even if you remind me of some other people that I know, you do hold some coins, and maybe I was trying to  impose too much of my own expectations on you? 

So, maybe I have a hard time relating.

I personally have been accumulating for 3.5 years, but only selling a small amount along the way, so in the end I continue to accumulate, even though when the price rises a lot, my stash of bitcoin does go down a bit and my stash of dollars go up and I am just itching for a drop in order to get some of those dollars back in.. so yeah, we have  a bit differing perspective.

[JayJuanGee]

I can understand cashing out little by little, but what you gonna do with your money if you cash out all of them?

Oh I don't know. That's a pair of luducrous mode Teslas, so you and your partner can race each other on the streets (since there is really nothing else you CAN race with one of those things.)

I certainly understand consumption and living life.. but you also have to have some money invested, unless you believe that you are going to die soon.

So yeah, cash out along the way, live within your means, and perhaps splurge from time to time, while still having some investment, no?

On the other hand, if you believe $2900 to be the top, then yeah, some of that cashed out money might be prepared for the BIG crash, if it were to happen.

[Dafar]

It is very demotivating for me to come into work when in one day I made more money than almost 2 years salary.

You should re-read what you just typed, because there's probably hundreds of people reading your post who have had the exact same feeling with some altcoin before, then they tried to ride the profits higher and they vaporized taking them back to square one.  The fact is, the second any type of life changing profits occur, the price always craters right after.  What % bitcoin can rise in a short duration before said action occurs is up for debate though.  Having any type of life changing profit occur and then not taking any profit off the table is the definition of insanity.

Profit in what? A currency that will likely go away in the next 10 years due to a debt bubble and more wars?

I stay at work mainly because it allows me to continue my high risk investment without worry of starving if it goes to zero. If I were to quit I would buy real estate or something that will sustain me for decades.

Real estate where? Cheap apartments and rent them out? I need ideas on how to sustain myself once I sell... I'm over the job route

[Chef Ramsay]

We'll see the bull keep going until later next week and then likely a major dump. However, we'll see 5 digits by Feb 2018 w/ a major breakout coming in 2019. That's right I said it.

[DrMsEr]

We'll see the bull keep going until later next week and then likely a major dump. However, we'll see 5 digits by Feb 2018 w/ a major breakout coming in 2019. That's right I said it.

5 digit until next year.. If trend continues like this every week we are jumping then i feel that this X-mas we will surely hit 5 digit and then a major dump for profit.

[Searing]

We'll see the bull keep going until later next week and then likely a major dump. However, we'll see 5 digits by Feb 2018 w/ a major breakout coming in 2019. That's right I said it.

That is the question. I have 100 btc and nothing in anymore but time/hobby/labor....I mined my way into the 100 btc being all profit...thus how the hell can I even think
about selling....triumph or tulips at this point in time for me.

But the question is again how high will it go....if it goes to say 6k drops to 3k and recovers....slowly say 4-5 months of sideways..then repeats

I expect a 'staircase' kind of climb...right now it looks like a high speed escalator at WTH speed

but anyway ...there will be a correction dump or whatever you want to call it...but damn from how high to how far a correction will it be

and IF it is all about adoption..it may NOT stop rising for a few months yet depending on demand

anyway the pucker factor to sell will be immense when if it hits 5,000 usd btc imho.....shit got real


But again...say it dumps back to 2k ....well hell it was $450 usd last July 2016 or so right? ......the real question is does btc and crypto have legs to NOT

drop below 2k anymore etc etc.....if so that means it must be a combo of 'adoption' and 'holding' of a pretty substantial scale imho...more so if it pumps to 5k eventually

anyway, out of my hands ..just have to ride this sled down the hill ....exciting times

A case could be made for me selling out now..but I'd feel ok at 1k btc again vs 5k btc if I jumped out now....such is the bet..such are folks choices

[luckygenough56]

i can't believe you don't take profits. You haz balls. Or you're just crazy.

[jbreher]

So in hindsight you all knew everything. Now it's a guessing game.

Why will nobody admit they know nothing?

I didn't know.

Then again, I never thought much about it. Not like it was central to my existence or anything.



wait - what? What are we talking aboot?

Our success. I never saw it coming.

Oh. Well. That's different, then.

I thought we were talking about NLC.

The rise was pretty predictable. Not the specifics, mind you. But the mere occurrence was (and continues to be - going forward) inevitable.

[Elwar]

It is very demotivating for me to come into work when in one day I made more money than almost 2 years salary.

You should re-read what you just typed, because there's probably hundreds of people reading your post who have had the exact same feeling with some altcoin before, then they tried to ride the profits higher and they vaporized taking them back to square one.  The fact is, the second any type of life changing profits occur, the price always craters right after.  What % bitcoin can rise in a short duration before said action occurs is up for debate though.  Having any type of life changing profit occur and then not taking any profit off the table is the definition of insanity.

Profit in what? A currency that will likely go away in the next 10 years due to a debt bubble and more wars?

I stay at work mainly because it allows me to continue my high risk investment without worry of starving if it goes to zero. If I were to quit I would buy real estate or something that will sustain me for decades.

Real estate where? Cheap apartments and rent them out? I need ideas on how to sustain myself once I sell... I'm over the job route

When I think Real Estate I think of a house that will sustain me for the rest of my life. That means off grid, ability to grow at least meager food, or some means of survival. For me that could be a sailboat with solar panels and a fishing pole or a ranch in Texas.

Or a seastead 

[ErisDiscordia]

I remember when the price shot up to 60 dollars when I had bought at 20, all my friends at work were saying I should sell. Calling me crazy for not selling as it went over 100.

I will diversify into Seasteading later this year as I see that as the next world changing technology that I believe in.

You know what I tell these people? "You didn't tell me when to buy, so don't tell me when to sell!"

Can you post something elaborating on why seasteading is a world changing technology? I fail to see the implications...

[jbreher]

Anyhow, sometimes we have to invest a bit and then just stay the course and just write off our principle.

I've pulled out ~13x my original investment in the last few weeks. And it only dented my principal.

Well, I didn't really pull it out. It's overwhelmingly on exchange in open buy orders. At profit, of course.

Sure as shit, there'll be a nasty overshoot correction. We're still not doubling per days, so not yet. 3x more? 10x more? Who knows? But I'll be ready to buy back in the aftermath.

If my exchanges don't cut'n'run in the meantime, that is. Calculated Spitballed risk.

[Searing]

i can't believe you don't take profits. You haz balls. Or you're just crazy.

It is easier if you mined all your equip purchases back, as well as the btc remaining you
Have nothing in it. Indeed still mining ltc at 10k a month net. That too could all end for
Ltc scrypt-pow mining by dec. Indeed I almost sold equip in march at 1 btc per Titan at $4.15 ltc.

At $30 ltc now I'd be a crying.

So hell, ride it out. If the bubble dumps to 1k usd I'm still way ahead
Of last July at $450 btc.

The key is in my case I mined all my initial $$ back via equip purchases.

Thus imho it is easier to go for it vs someone with a $45k usd stake in
This and scratching head at triple profit.

Likely my view is just convuluted denial to hold. But seems to work
In my case.

[Elwar]

I remember when the price shot up to 60 dollars when I had bought at 20, all my friends at work were saying I should sell. Calling me crazy for not selling as it went over 100.

I will diversify into Seasteading later this year as I see that as the next world changing technology that I believe in.

You know what I tell these people? "You didn't tell me when to buy, so don't tell me when to sell!"

Can you post something elaborating on why seasteading is a world changing technology? I fail to see the implications...

Though currently it is being spun as a "green technology" to appease the environmental mafia, the concept is similar to cryptocurrencies in that you can spin up your own "government" and let the best one win.

We're just about to start Phase 1 which is building a prototype in a nation's protected harbor with limited autonomy. Phase 2 is moving 12nm outside of the nation's borders but still in fairly shallow waters and inside the nation's EEZ. The final phase, Phase 3 is an autonomous seastead 200nm from any nation in international waters. Basically creating a new floating nation. The first one will be like Bitcoin and grow bigger and better over time. While others will duplicate the technology and concept and build their own seasteads in various places around the world implementing their own concepts in the hopes that people will join them.

One of the keys to the concept is that your home/platform is mobile. If you don't like the way things are being run you just float to another seastead that you do like. It allows for competing governments in an incubator type of fashion where something much better than our current governments will arrise due to the free market force of choice.

One example given is that if the government of a seastead declared war with someone, they might be surprised to wake up in the morning to discover that all of their citizens floated away in middle of the night to form a new seastead.

I spent a week in Tahiti last month at a conference with some very intelligent people who are working to bring the first seastead to French Polynesia. The president welcomed us and they are very open to giving us a special economic zone in one of their protected harbors. The company that was formed, Blue Frontiers, should be taking investors soon. I spoke with their finance guy and told him to contact me as soon as they are ready for investors. I also sat down with their crypto workgroup and was humbled by the amount of talent that team brings with it. We definitely want people to be able to use Bitcoin to invest and record property ownership on the blockchain. The legislation should go through around January, then things will take off from there.


TL;DR Seasteading will allow for the decentralizing of nations the same way Bitcoin decentralizes currency.

[kludzins]

Where is correction?

[Last of the V8s]

TL;DR Seasteading will allow for the decentralizing of nations the same way Bitcoin decentralizes currency.

btc decentralises nation states - what is for example the USG without the US$? and what is the USA without the USG? Angry people with guns.
and boats. any ship or island when that shtf will be a sitting target for pirates.

[savetherainforest]

Where is correction?

You just had correction a few hours ago! 


Next one is uncertain... It can be a smaller one now... or a bigger one after $3200 < > 3800$  ... but from what I see the US dollar keeps devaluing like a happy champ!      ... So that might influence things a bit.