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

[BTCtrader71]

Perhaps you mean all-out revolution? Well, I'm pretty sure that in the U.S. that is coming soon. Likely a French Revolution style revolt. Many here would be all-in on that.

How about this time around, instead of destroying the status quo with all kinds of violence and figuring that the rest will take care of itself (like what George Bush tried to do in Iraq), we start out building and testing the better system. That's actually the beauty of the crypto revolution: we are building decentralized money and decentralized forms of governance first. Testing them out, one step at a time. When they are really working, there will be no need for a violent revolution. Existing systems will crumble under their own weight (e.g.: Venezuela) and better, decentralized systems will be already in place to take up the slack.

No need for war. Please.

I see seasteads as the next revolution in testing better governance systems. I am working in this sector and crypto is playing a huge role.

So many things need to be built. This is an exciting time people!

I see decentralized reputation systems as a fascinating problem and a necessary ingredient for better governance systems. It will be built on top of decentralized identity which is just starting to become a reality.

[r0ach]

so dont worry people, bitcoin will always go up.

lets go guys, lets buy more!!

This is why bitcoin is scary now.  There's all kinds of trailer park people and penny stock scam artists all over youtube and other venues that have no idea how bitcoin works (or is supposed to work but doesn't) spamming nonsense like this constantly.  Although Marcus is somewhat technically proficient and also pushes the same delusions, that the price can only go up and it's impossible to go down lol.

[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.

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

GOSH!!!!   


I cannot imagine using my actual cash to buy BCH, especially since I (just like a lot of the other folks participating in this thread) was already issued a bunch of it. 

To me, it seems good to unload a sizeable chunk of my issued BCH - even though I might hang onto a small amount of it.

Maybe I could hold onto somewhere between 5% and 20% of what I was issued?  Possibly?  Have to play it by ear regarding the exact BCH holding quantity, but I cannot really imagine any kind of realistic scenario in which I would want to hold onto more than 20%.

[jbreher]

Fractional reserve is impossible with LN

Ha. Hahaha. Hahahahahahahahaha!

You've obviously thought through how the system will naturally evolve.

[jbreher]

Not a French Revolution style revolt please. I want to keep my head.

If you are not a wealthy Oligarch banker then you have nothing to worry about. 

Once the bloodlust of the guillotine takes hold, the backing behind the wealth matters none. To an impoverished rabble rouser, one enriched on a permissionless, uncensorable, peer to peer currency is indistinguishable from a vampire squidlet.

Tl;dr careful what you wish for.

[jbreher]

We don't need to tear down the old corrupt system physically (through violence), we simply need to find financial ways and means to opt out of it completely. Then it will crumble.

I like this sentiment, and am hopeful that it is true.

[Torque]

Once the bloodlust of the guillotine takes hold, the backing behind the wealth matters none. To an impoverished rabble rouser, one enriched on a permissionless, uncensorable, peer to peer currency is indistinguishable from a vampire squidlet.

Tl;dr careful what you wish for.

Roger Ver is 'an enriched on a permissionless, uncensorable, peer to peer currency' and I don't wish the guillotine on that clown.

Oh wait.   j/k

The point is, even a vampire squidlet like that jackhole enriched on the Bitcoin network can't gain control of the system and subvert it for his own personal gain. Well, we can all hope anyway. I guess we shall see how well the network holds up in the future.

[jojo69]

We don't need to tear down the old corrupt system physically (through violence), we simply need to find financial ways and means to opt out of it completely. Then it will crumble.

This is my approach.  I did my time engaging the system directly.  Everybody should do it for a bit when they are young, but if you don't figure out how to disengage you end up impoverished, broken, and quite probably insane.  We all need to figure out how to take responsibility for our own keep, but this does not mean that we need to be complicit in our own enslavement.

I really urge you, my fellow bitcoiners, as we find ourselves with unaccustomed wealth, to resist the easy baubles of affluence.  Every time you buy a new thing you are putting energy into the machine.  Fix old things.  Employ people directly.  Develop your self sufficiency.  Productive land, heirloom equipment, sustainable water systems...these things are the real status symbols.

[TeeBone]

So, who hasnt sold their BCH ? I havent, dunno why not. Gut's telling me hodl.

[infofront]

So, who hasnt sold their BCH ? I havent, dunno why not. Gut's telling me hodl.

I haven't sold either. Waiting to see how the price action develops.

[BlindMayorBitcorn]

So, who hasnt sold their BCH ? I havent, dunno why not. Gut's telling me hodl.

I haven't sold either. Waiting to see how the price action develops.

I want to sell. I just find the whole thing so terribly inconvenient.

[fabiorem]

So, who hasnt sold their BCH ? I havent, dunno why not. Gut's telling me hodl.

I didn't even retrieved it. Been eight days since I started synching bitcoin ABC in another system. Extremely slow.

I don't plan to sell it, will keep it since it have more potential for value than ether. But as soon as I retrieve it I will send to a exchange, can't keep a node on it, it's too slow.

[Heater]

So, who hasnt sold their BCH ? I havent, dunno why not. Gut's telling me hodl.

I sold all mine at the bottom, of course.

[Elwar]

I gave my niece 1 bitcoin for her birthday back in December 2013 (when the price was $900/BTC). Throughout the year I gave each of my nieces and nephews 1 bitcoin for their birthday, the first being about $50 and the last being about $1k.

My niece's mom, my sister, felt it was very generous when I gave it to her knowing the price (though I had paid about $20 each for the coins I gave away). But as the price fell over the next year my sister was soured of the whole bitcoin thing and kept asking me how to cash out the coin so she could put it in a CD or savings bond or whatever. I told her how but she could never figure it out (I had given her the private key in her birthday card). Finally last month she cashed it in and bought an iPhone.

The point of the gift was not the money but the gift of learning about Bitcoin and giving the kids first hand knowledge of how to use bitcoins. The parents keep wanting to jump in and "save" their kid from this crazy Internet money by selling it and putting it in the bank or spending it.

One nephew got it though. When the price went from $200 or so to $4-500 he said "if it went up that much, imagine how much it will be worth in a few years!".  I think my oldest nephew who is in college now probably spent his on drugs (or gift cards, who knows).

[Elwar]

Elwar, I gave my family small amounts of BTC in paper wallets in 2013 as well (I am the 'crazy uncle'). Knowing well that I was the only family member that was really interested, I kept the public/private keys copied for myself. Some of the wallets will have gone through the laundry/trash before they get remembered.

I kept the private keys as well (hmm...do I sell their BCH?).

When I was in town I showed my oldest nephew how to use it on Steam. He was pretty excited about it at that point.

[jojo69]

That got an actual laugh out of me...the nephew realizing that it would actually work on Steam...awesome!!!

[nanobtc]

I saw one of the nephews a week ago, he recently noticed current price.

Nephew: "OMG it's up a thousand percent".
Me: "It's up a lot more than that".

[savetherainforest]

Can we gas the kikes already, so i dont have to see these posts anymore.

Better Call R0ach! He's an expert!

[jojo69]

Can we gas the kikes already, so i dont have to see these posts anymore.

Better Call R0ach! He's an expert!

[ErisDiscordia]

Not a French Revolution style revolt please. I want to keep my head.

If you are not a wealthy Oligarch banker then you have nothing to worry about. 

You need to go back and study the French revolution some more. You could have been a revolutionary in 1789 and be accused of being a reactionary conservative in 1793 and get your head chopped off - without having changed your political opinions one bit. At that point wealth had nothing to do with ho gets killed.

Perhaps you mean all-out revolution? Well, I'm pretty sure that in the U.S. that is coming soon. Likely a French Revolution style revolt. Many here would be all-in on that.

How about this time around, instead of destroying the status quo with all kinds of violence and figuring that the rest will take care of itself (like what George Bush tried to do in Iraq), we start out building and testing the better system. That's actually the beauty of the crypto revolution: we are building decentralized money and decentralized forms of governance first. Testing them out, one step at a time. When they are really working, there will be no need for a violent revolution. Existing systems will crumble under their own weight (e.g.: Venezuela) and better, decentralized systems will be already in place to take up the slack.

No need for war. Please.

It is rare to see this sentiment articulated anywhere so I will just quote it and say how much I agree. Grow alternatives from the bottom up. If we smash the current status quo without alternative systems in place people will shy away from the chaos which ensues and call for the safe comforting strong hand of a dictator.