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

[AlexGR]

You seem to be asserting, in part, that bitcoin's value could be somewhere in the gold parity (john mcafee eat my dick) territory, and I think that there is some truth in that, and even with ongoing decent exponential adoption, if someone is actually good for his word, we are likely going to witness some dick eating because another 100x in 3 years, just seems way too astronomical - even though it could be more reasonably achievable in a longer period of time, maybe 10-ish years, possibly?

It is difficult to determine for sure in terms of how fast prices could rise, but there are likely to be continued bitcoin sabotage attempts in the coming years, and also manipulations to trick people out of their coins, and surely some kinds of greater developments of user-friendliness need to evolve in order for bitcoin to really achieve gold parity price territory, no?

I think Bitcoin is short-to-mid-term good for maybe 5-10% of Gold's marketcap - not marketcap parity.

10%-gold-marketcap-levels would put it around Apple stock territory (~800bn).

Mcafee is probably exaggerating but he can always say "ok maybe we didn't get from 2k to XXXk but hey, it beat most stocks and other investments by far...

One of the reasons that I don't see gold parity (btc reaching ~8 trillion marketcap) is that the fiat supply is too low. You need to dump tremendous amount of fiat into bitcoin to reach these kind of levels. We'd need some kind of inflationary boom, in multiple large countries simultaneously, sustained for a few years.

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[Last of the V8s]

https://medium.com/@morcos/no2x-full-nodes-889c20100a8d

https://medium.com/@SDWouters/why-schnorr-signatures-will-help-solve-2-of-bitcoins-biggest-problems-today-9b7718e7861c

and

https://twitter.com/desantis/status/897066160969183232 - fun thread
@desantis 36m36 minutes ago you are a strange loop

no, you

[Torque]

Just did a quick calculation today.

I calculate that I'd have to work full time for 14.5 years to earn, after taxes, what I've gained with bitcoin in just 4 years.

And this shit is just getting started IMO.

[JayJuanGee]

Just did a quick calculation today.

I calculate that I'd have to work full time for 14.5 years to earn, after taxes, what I've gained with bitcoin in just 4 years.

And this shit is just getting started IMO.

Oh Great!!!!!

The temper tantrum throwing party pooper has cheered up a bit to become a bit more bullish, after his little bearish tirade in the mid $2000s.  


Funny what a little profits calculating will accomplish.

 

[Torque]

I'm not too proud to admit I got that wrong.  

Although we could top at any time. Just saying. Though it looks like we have more bull run to go.

Either way it goes, I win so I don't care.  80% in bitcoin, 20% hedged. Win win.

[Paashaas]

Is this teaser for real? Will Blockstream and SpaceX bringing Bitcoin into space?

Internet 2.0 on his way?

https://www.youtube.com/watch?v=lbx7NAnVeGc

[Samarkand]

lost 800 USD for a high event.
lost 400 USD for a classic beartrap (recovery in 12h or 36h).

walls are very tiny on Kraken ... for selling or buying.

I wouldn´t look for walls on Kraken. Other exchanges have more volume or are more relevant
for price discovery (we all know that certain Asian exchanges influence the market in a way
that is bigger than their actual market share).

Kraken can be neglected in terms of buy and sell walls.

[Searing]

Just did a quick calculation today.

I calculate that I'd have to work full time for 14.5 years to earn, after taxes, what I've gained with bitcoin in just 4 years.

And this shit is just getting started IMO.

my CPA on Friday (besides the wtf are you doing are you a drug dealer look) said

1) quit my job ..being taxed at 47%

or

2) do a solo 401k and dump up to 34k in that for the rest of the year



She also said

3) no way sell coin this year..capital gains on income ..she says wait till first of the year


so myself

4) wtf ...maybe I should cash out some after Jan 1st and just mine thru 2018 and slide on my investments and some BTC cashed out...I'm 2 years
from medicare (65) and the year after that I could glide and still take full soc sec at 66

decisions..

ack!


If it hits 5k I'm gonna crack like a walnut.....before Jan 1st I'd be gone...(and I could justify selling some of my 'crypto babies" as a hedge against dreaded tulips (unlikely
but I've used dumber justifications to blow $$$ on dubious projects...like in 2013 when I got the KNC 550gh Jupiter BTC ASIC Miner

ack! I hate making 'adult' and 'prudent' decisions....

[|Admiral|]

Seems this August we will touch 5k. Bitcoin speculation pays me higher than my Job Monthly  , should i quit Job??

[leowonderful]

Seems this August we will touch 5k. Bitcoin speculation pays me higher than my Job Monthly   , should i quit Job??

Depends how much you have in Bitcoin. Remember to invest in good cold storage methods and don't keep all your eggs in one shell. I use several paper and hardware wallets for my BTC. Price could also crash and you might lose money.

[Torque]

4) wtf ...maybe I should cash out some after Jan 1st and just mine thru 2018 and slide on my investments and some BTC cashed out...I'm 2 years
from medicare (65) and the year after that I could glide and still take full soc sec at 66

You're lucky. I don't put any hope on Medicare and soc sec still being around when I get to 65-66.

Also, if you 'cash out' (hate that phrase) from bitcoin entirely now, I think over the next 5-10 years you will regret that decision every minute of your life. You should actually be doing the opposite, constantly putting money back in.

We have another halving event in 2020, and mega inflation coming (it's already begun, just most people don't realize it). Another financial crisis/crash, and the central banks will be QE'ing like there is no tomorrow. Japan has already admitted that it will probably print money infinitely.

Want an example of just how bad the U.S. economy is right now?
Saw a commercial recently that Ford finance was running on a deal for a new Ford car. No money down, 72(!) months at 0% APR, $1000 cash back on top of trade in value. Seriously?? Pretty soon they'll be giving them away.

[shaggy404]

Bitstamp:

[Elwar]

Just did a quick calculation today.

I calculate that I'd have to work full time for 14.5 years to earn, after taxes, what I've gained with bitcoin in just 4 years.

And this shit is just getting started IMO.

my CPA on Friday (besides the wtf are you doing are you a drug dealer look) said

1) quit my job ..being taxed at 47%

or

2) do a solo 401k and dump up to 34k in that for the rest of the year



She also said

3) no way sell coin this year..capital gains on income ..she says wait till first of the year


so myself

4) wtf ...maybe I should cash out some after Jan 1st and just mine thru 2018 and slide on my investments and some BTC cashed out...I'm 2 years
from medicare (65) and the year after that I could glide and still take full soc sec at 66

decisions..

ack!


If it hits 5k I'm gonna crack like a walnut.....before Jan 1st I'd be gone...(and I could justify selling some of my 'crypto babies" as a hedge against dreaded tulips (unlikely
but I've used dumber justifications to blow $$$ on dubious projects...like in 2013 when I got the KNC 550gh Jupiter BTC ASIC Miner

ack! I hate making 'adult' and 'prudent' decisions....

Take out only what you need to spend. Use bitcoins for any spending that you can.

If you need a safety net for some of your wealth, short bitcoin for as much as you might need over the next year or so (as much as you want to be secure). By shorting (without margin) you are effectively freezing your bitcoin wealth at the current price. The downside is you have to pay a few percent per year to do that and you risk having your coins on an exchange (perhaps spread between several exchanges). This avoids capital gains and allows you to pull it out at a later date as needed.

At $38k total income you pay zero capital gains tax (this year). Might be best to do until you find a better way down the road (with a better CPA).


I recall in 2011 asking my CPA what he thought about bitcoins. He just laughed.

[LFC_Bitcoin]

Bitstamp:

This train is relentless, I keep expecting a significant correction but no, we keep going up, up, up. What a time to be alive

[fortune143]

This is a call out to any Bitcoin speculators out there, wtf is going on with the upward price movement right now???

I sold at ~$2750 and watched all the way down to $1800 convinced the major correction was underway. I slinked back in after the bounce back up from ~$3000 and expected this rally to be over well before $4000. So now I'm hodling for dear life and awaiting the big red dip down to ~$3500 or lower.

Any thoughts on future short to medium term price action?
 

[Meuh6879]

[BTCtrader71]

If it hits 5k I'm gonna crack like a walnut.....before Jan 1st I'd be gone...(and I could justify selling some of my 'crypto babies" as a hedge against dreaded tulips (unlikely
but I've used dumber justifications to blow $$$ on dubious projects...like in 2013 when I got the KNC 550gh Jupiter BTC ASIC Miner

ack! I hate making 'adult' and 'prudent' decisions....

Bear in mind your CPA probably knows 0.00001% what you know about crypto.

Gone as in sell all your crypto? I'd recommend the JJG method of selling in very small increments at a progression of price points. Don't do anything rash you will later regret ...

[BitcoinNewsMagazine]

This is a call out to any Bitcoin speculators out there, wtf is going on with the upward price movement right now???

I sold at ~$2750 and watched all the way down to $1800 convinced the major correction was underway. I slinked back in after the bounce back up from ~$3000 and expected this rally to be over well before $4000. So now I'm hodling for dear life and awaiting the big red dip down to ~$3500 or lower.

Any thoughts on future short to medium term price action?
 

Follow a weekly chart of BTC/USD and buy when price gets to the 20 MA. That would have gotten you in at under $1900. Right now 20 MA is $2360. Sooner or later the 20 MA weekly will be broken so don't expect this to work forever.

[Elwar]

This is a call out to any Bitcoin speculators out there, wtf is going on with the upward price movement right now???

I sold at ~$2750 and watched all the way down to $1800 convinced the major correction was underway. I slinked back in after the bounce back up from ~$3000 and expected this rally to be over well before $4000. So now I'm hodling for dear life and awaiting the big red dip down to ~$3500 or lower.

Any thoughts on future short to medium term price action?
 

Not many traders here. Most have learned our lesson and just buy and hodl.

The reason for the upward movement? Many people are trying to figure out where to put their wealth for safe keeping. With a madman running the US economy and military, incompetent idiots running the other countries economies off a cliff and uncertainty everywhere, bitcoin has proven itself to be a store of value that will not be stopped. Everyone was just waiting to see if the hard fork and SegWit activation would cause any turmoil. Bitcoin survived both with no problems, demonstrating that it can grow and adapt over time as necessary.

Investors have had 4 years to think about how they missed out on the big rise in 2013. They have been on the sidelines waiting. This time they will participate. And it will be glorious.

[Torque]

I recall in 2011 asking my CPA what he thought about bitcoins. He just laughed.

Same thing happened to me and my significant other in 2013! We dropped him as our accountant the very next day. Thank the godz that we never listened to him.