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

[Slow death]

I systematically sell about 1% of my holdings for every 10% rise in price, and I buy back in similar amounts.

Is not very little profit?

It's finally hit me.


This is bananas isn't it? 3400?

Wtf

We are currently at $3480.

It will be possible to reach $4000 later this year..

[Olivious]

I did not expect we will achieve $3500 in a matter of week. $20 pumps more and new possible all time high again gentlemen.

[JayJuanGee]

I traded a little bit of BCH yesterday @ 0.059 BTC.

Today it is @ 0.11 BTC.

KHAAAAN!!!!!!  

They knew that you were going to do that.  Psych!!!!!   

[Elwar]

I forgot to pay my rent at the beginning of the month.

The price on August 1 was around $2,600. Today I paid when the price was $3,400.

I'm glad I forgot. 

[Asrael999]

Rally looks good, maybe a little overdone, we are now nicely above the logarithmic trendline. That said - the trendline implies a price $4200 by year end and 8K end 18. We are on the cusp of the vertical phase

[wolongong]

What are you guys feeding the bitcoin price?

It's so big.

Trillions of dollars of central bank money printing.

All in desperate search for ROI. eg. Berkshire has a pile of 100bn USD still looking.

[Last of the V8s]

when 3420 seems like a btfd opportunity smh

[JayJuanGee]

I systematically sell about 1% of my holdings for every 10% rise in price, and I buy back in similar amounts.

Is not very little profit?

I don't think the profit amount is too little.  I think that there is a much greater risk to try to guess the direction of the market... and too much stress too, when you try to guess.

I mean in the beginning when I was selling in the upper $200s and etcetera all the way up, the amount of money that I was accumulating and preparing for downside seemed to be so small, but the amount continued to go up and add up as the price was rising, so 1% of $3000 coins is a lot more than 1% of $300 coins.  10s more.... hahahahaha.. and with my system the BTC amount had continued to build, too, even though I had been selling and then buying back.

So, even though I currently have 92% bitcoin and 8% cash, I still have quite a few more bitcoins than when I started, and I really feel flush with cash, and kind of like I am really prepared to buy all the way down to $1500, if needed.

I guess my problem is that I continue to want to accumulate, and I always felt more comfortable sleeping in bitcoin rather than cash, so I never want to sell too many my bitcoins, even though the amount in cash kept building up - even though it tends to be in the less than 10% arena, and then still I feel like I have way too much cash, so I am definitely prepared to buy on the way down.  But I could just decide to take some of that cash completely out, and that would be o.k. too.  So, my point is that having a system adds up to accumulation of both bitcoin and cash, and makes you feel a lot more comfortable and prepared for those sometimes unexpected, uncomfortable and seemingly extreme and inevitable corrections.

[Iranus]

Alright, I'm getting bearish now.

Let's all remind ourselves of the price on January 1st: about $970.  So the price has multiplied by about 3.5 since the start of the year, and $1000 was pretty much the ATH before.

I know there's SegWit and everything but this price is ridiculous.  I've been buying a lot of stuff with it now.  It's not like some casual investors on the sidelines are shoving up the price by hundreds of dollars in a matter of hours.

[rjclarke2000]

I systematically sell about 1% of my holdings for every 10% rise in price, and I buy back in similar amounts.

Is not very little profit?

I don't think the profit amount is too little.  I think that there is a much greater risk to try to guess the direction of the market... and too much stress too, when you try to guess.

I mean in the beginning when I was selling in the upper $200s and etcetera all the way up, the amount of money that I was accumulating and preparing for downside seemed to be so small, but the amount continued to go up and add up as the price was rising, so 1% of $3000 coins is a lot more than 1% of $300 coins.  10s more.... hahahahaha.. and with my system the BTC amount had continued to build, too, even though I had been selling and then buying back.

So, even though I currently have 92% bitcoin and 8% cash, I still have quite a few more bitcoins than when I started, and I really feel flush with cash, and kind of like I am really prepared to buy all the way down to $1500, if needed.

I guess my problem is that I continue to want to accumulate, and I always felt more comfortable sleeping in bitcoin rather than cash, so I never want to sell too many my bitcoins, even though the amount in cash kept building up - even though it tends to be in the less than 10% arena, and then still I feel like I have way too much cash, so I am definitely prepared to buy on the way down.  But I could just decide to take some of that cash completely out, and that would be o.k. too.  So, my point is that having a system adds up to accumulation of both bitcoin and cash, and makes you feel a lot more comfortable and prepared for those sometimes unexpected, uncomfortable and seemingly extreme and inevitable corrections.

Hey JJG with all your cash just think of how many BCH you could buy.

[empowering]

So, 3.5k is within smelling distance. I have a feeling that we could see a pull back to 3-3.2 after Segwit is activated.

I hope I'm wrong though.  

No one answered my question a few pages back either. Has anyone actually done anything with the fact that Segwit is activated on Litecoin? How long should we expect to wait for people to use the tech on the Bitcoin blockchain?

Now that Segwit has been activated (LTC) - I do not think that many users or services currently clients or wallets (dont send by default atm)  have implemented it in any meaningful way - though some hardware wallets can now send  segwit transactions - I think they are making some changes and rolling out the tech and talking with services and exchanges etc about the benefits of SegWit transactions-whilst also working on the core and clients to pave the way for further Segwit roll out- I see this is the latest from core on Github  BIP173 - Bech32 addresses: more secure address format designed for segregated witness
https://github.com/bitcoin/bips/blob/master/bip-0173.mediawiki


I think there are several projects going on in the background, that are not LTC specific which plan to build layers on-top of LTC and BTC
including but not only using the Lightning Network   (the first LN transaction was sent on the LTC network- a few hours after segwit activated on LTC  Blockstream guys sent 1.3 cents from Zurich to San Fran) they are also working on cross chain atomic swaps between LTC and vertcoin.
 Coblee has said he wants to push on with the Lightning Network implementation  ditto with cross chain- I think SegWit cleared the way forward for these to move forward- both on LTC and now BTC.

LN will be a thing though....so its a matter of when...  the LTC 2017 roadmap should come along quite well I think... so maybe within 6 months-ish even we have LN  and other layers and solutions being revealed and rolled out.

[gentlemand]

So what's the consensus (do you see what I did there?) on this?

https://www.reddit.com/r/Bitcoin/comments/6sbacg/bitcoin_core_0150_will_automatically_disconnect/

Core nodes don't want to play with 2X ones.

Obviously technically sensible, but does this mean they're expecting three Bitcoins at least for a short while? Will it force another UASF style 'compromise'?

[d_eddie]

So what's the consensus (do you see what I did there?) on this?

https://www.reddit.com/r/Bitcoin/comments/6sbacg/bitcoin_core_0150_will_automatically_disconnect/

Core nodes don't want to play with 2X ones.

The way I see it, this update protects plain (segwit) nodes from being cut off from their network if they have their peers.dat stuffed up with 2x nodes at the time of the fork. It also means 2x nodes should be doing more or less the same if they want to be sure to have "useful" peers ready when the time comes.

Don't know why Garzik is putting on such a racket about that.

[YamashitaRen]

Alright, I'm getting bearish now.

Let's all remind ourselves of the price on January 1st: about $970.  So the price has multiplied by about 3.5 since the start of the year, and $1000 was pretty much the ATH before.

I know there's SegWit and everything but this price is ridiculous.  I've been buying a lot of stuff with it now.  It's not like some casual investors on the sidelines are shoving up the price by hundreds of dollars in a matter of hours.

Better that than looking at (and betting on) price increasing while staying in USD like me  

[Arriemoller]

unless you're praying for an apocalypse.

I used to, but apocalypse is a young man's game...getting too old to live on iguana on a stick and peanut butter.

Me too, now I'm trying to make sure I don't have to live live that kind of life even if there is an apocalypse.

[r0ach]

I get a little nervous when MSM starts actually turning pro-bitcoin. I always think, "Why are they suddenly promoting it? What's in it for them?"

Congratulations for being the only non-idiot in the thread.  Bitcoin is a tool for them to try and keep people out of the highley strained metals market only being propped up temporarily by rehypothecation while also helping acclimate people into the de-cashing of society and integration into a cashless society control grid.  They'll allow bitcoin to go up a bit then mercilessly implode it and claim "Oh, so sad, that darn bitcoin is just not dependable and was used by too many launderers and criminals anyway.  We'll have to issue a government coin that's much more dependable with built in KYC so people won't lose money!"  

Too bad for them this plan doesn't work.  Western investors are literally mentally retarded and metals demand drops off a cliff when the price is low while demand is huge in the rest of the world like China right now.
Westerners always jump in to FOMO buy at the top and don't buy anything at the bottom.

I'm afraid this metals shit will never pan out, sorry. And I actually hold a fair amount of physical PM's. Good thing I got into bitcoin.

Kind of irresponsible to be recommending dead-in-the-water metals. Too much of a long shot unless you're praying for an apocalypse.

Much better to get into bitcoin, turn a profit, then buy a few coins and bars for fun but they'll never really amount to much anyways.

Not sure why you push gold and silver so much. Its kind of laughable. What a shitty investment atm. Price will probably drop lol.

It's laughable you have so many scamming children claming bitcoin is going to be the new world reserve currency when it has poor fundamentals as both money and currency.  It's useless as a settlement unit (money) due to having built in rent seeking middlemen (transaction validators) and doesn't remove counter party risk.  Those are attributes you find in things like fiat currencies, not real money.  It also performs poorly as a currency due to huge overhead from triple entry accounting (and Lightning network doesn't function in a decentralized manner so don't even give me that bs).  

It's designed to perform bad at anything you would want a monetary instrument to do while also not being fungible either.  But such things don't interest mindless children, all they care about is if Jim Cramer gives it a thumbs up or not.  Meanwhile, all the smart money in the world is buying low instead of high and getting metals while the Jewish banking ESF has manipulated them down to cost of production.  Metals are the Schelling point when faith wanes in debt based fiat bills, not bitcoin.

[conspirosphere.tk]

Fuck that noise. I'm thinking $5k is achievable sooner than we'd expect.

looks like someone forgot that in the past BTC crashed 90% or so. Now it would mean plunging back to $300.
I would not bet the farm on a single scenario, even thanks to the imminent mining wars with that alt.cash thing.

[Ibian]

Bitcoin has better economic properties than gold and fiat, comparisons have been made years ago. You are boring, roach.

[r0ach]

Fuck that noise. I'm thinking $5k is achievable sooner than we'd expect.

looks like someone forgot that in the past BTC crashed 90% or so. Now it would mean plunging back to $300.
I would not bet the farm on a single scenario, even thanks to the imminent mining wars with that alt.cash thing.

I think this whole thing is going to collapse like a house of cards once people figure out lightning network does not and never will work in a decentralized manner.  Literally NOTHING has changed in bitcoin in the last 5 years. Decentralization is not solved (it's completely centralized), scaling is not solved, the only thing that's solved is knowing a single entity (probably Bitfinex owners) control the price on their fraudulent exchange.

Bitcoin has better economic properties than gold and fiat, comparisons have been made years ago. You are boring, roach.

100% lie.  LOL "comparisons", you mean comparisons from paid shill pumpers like Antonopolous?  Bitcoin has far worse fundamentals than metals as money, nor is it even fungible so doesn't qualify as money in the first place.  You people have lied to yourself so many times you're starting to believe your own nonsense.  We're talking about imaginary super mario tokens vs real world goods here.  Since the fucking thing is imaginary, the most it can be is just an IOU.  Right now you can ditch your IOUs for something that actually does have value, but that will not always be the case.

[bitserve]

Interesting comparison that reflects current trend:

https://trends.google.com/trends/explore?q=buy%20bitcoin,buy%20ethereum