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

[STT]

The whaletail porsche might be my favourite shape even without the spoiler.   Im not sure most people should buy the classic 911 if just driving normally on a road, a modern car with various devices to aid control is probably more sensible.    If you live out in the middle of nowhere and can experiment then it might be a dream of course, I'm not a fan of modern cars that wont stop going bing all the time.


The bitcoin price pulling back to 4333 looks reasonable as a previous kind of ceiling and now support.   Call it bullish again when rising above 4730 and just keep watching till then as market decides between the two.   The previous 3622 remains relevant of course but the bulls are no doubt not hoping it is on the menu

[ssmc2]

Who bought the bottom? 

[Icygreen]

Who bought the bottom? 

@4520ish and ready for 4300

[Arriemoller]

The story is that he lost 700000 XMR worth about 20500 XBT on his Apple laptop. I am not a fan of Apple and its EULA's but this has to be a record for a click on "I agree".

wtf has apple to do with it?

Probably nothing. As I recall, he had a bunch of people over and overlooked the most basic aspects of physical security. Then again, I may be misrememberating.

Not good to make fun of the misfortunes of others; however, I recall that Risto had some other drama a few years earlier, too... something about leaving his laptop in a conference room of a hotel and then the laptop went missing with thousands of bitcoins.  Isn't this a repeating theme with Risto, and if it were to happen once, then wouldn't additional security measures be taken in order to not have a similar scenario unfold a second time?

I think that is the incident to which I was referring. Though I think it was in the sauna at his place during an event with many invitees. I may be befuddled on the deets.

Actually, do you know how rumors can be evolve their own legs when they get batted around long enough, and it is like the game "telephone" where the last message is no where close to the first message.

It is certainly true that Risto has had a lot of drama including losing bitcoins, buying a castle, getting involved in monero, getting a divorce, being supposedly chased by the government.. and some kind of online gaming, too, so yeah, it is not very clear regarding the extent to which some of these stories might overlap, and he has been a bit of a drama queen, too, including some photos that he circulated on the internet of his personal circumstances, and even personal details that may or may not be completely true.

He has also had some incidents of health problems including psychiatric treatment, and I recall one time trying to suggest that he take better care of his health, because I saw a picture of him with a cigar and he looked really pale and unhealthy and lacking in athleticism - for a fairly young guy.

Anyhow, the laptop losing incident in the conference/hotel/sauna predated his getting involved in Monero, so if he really did lose a bunch of Monero, then that may have been a separate incident?

I believe that the hotel/sauna/conference loss, even though substantial, did not leave him in any kind of state of poverty, because, I think that he bought the castle after that with bitcoins... and maybe in the end, he tries to be a big baller and we know the expression that a fool and his money are soon parted... and if you are engaging in a lot of this kind of drama, then you are likely going to have trouble hanging onto wealth, unless you have someone managing your money for you, such as a trust.

Don't worry about the paleness, he's from Finland, they are all pale like snow ghosts.

[lightfoot]

I believe that I can live forever actually. Might be proven wrong in the end.

Life is short, eat dessert first....

Yes my favorite is an old Targa, however these are too expensive right now. I'm looking at the 996, cheaper and maybe also more useable as a daily driver. I've even seen one with the front replaced by a kit making it look like a 997.

*nod* The early 70's air cooleds are going for silly amounts of money, I'd leave them alone. Plus they had rust as a factory installed option; they would spray the floorboards with salt water just to do it....

I don't really go for the 90-2000's Porsches. I prefer the 70's and 80's, the water cooled models like the 944S/944Turbo and the 85-87 928's are actually pretty good deals for the money. You could also pick up a 914 cheap, they're oddly fun little cars.

[Arriemoller]

Why all the chat about Risto guys?

I miss the guy.

[Arriemoller]

Ok I will say it.
$7550 by the end of the year and $16000 by the end 2018.

I played a bit with the charts and did some pure speculation (imagined 2% of the world population using Bitcoin, ETFs approved and such).

It's always good to write down our goals. Sometimes we reach them

Ok, here's mine. Long term btc har doubled in price visavi dollar every eight months. Last year btc doubled , this year it has, so far, doubled in price every four months, if it keeps doubling every four months I predict 10000USD
by new year, 20000 by may first, 40000 by September first and 80000 by next new year.

Having said that, the last time I posted a prediction was in early december 2014, and we all know what happened after that.

EDIT: I mean of course early January 2014

[FractalUniverse]

Reading from my tea leaves weekly bitcoin chart, I predict at least one big red candle in september. my bet is that we'll have a look below 4k. and if its deep enough i would finally be able to buy back some

[rjclarke2000]

Why all the chat about Risto guys?

I miss the guy.

Miss him? He was active on bitcointalk today and posted only a few days ago. He hasn't gone anywhere has he?

[lemmyK]

Soo whats now..?? 

[gentlemand]

He hasn't gone anywhere has he?

I think his marbles have.

[jojo69]

He hasn't gone anywhere has he?

I think his marbles have.

to be fair, if I had his money the MDMA and hookers would probably have me pretty addled by now

[JayJuanGee]

I wish. I had to pay an exorbitant 6.8% buy fee but at least I seem to have caught the bottom (for now). Just a few hundred bucks worth but everything helps.

If it goes back down below $4.45k I'll do it again.

Jimbo:

Do you keep track of your average cost per BTC?  Since you buy and never sell your average cost per BTC must be going up and up and up?  I understand that you started buying in the double digits (or at least I recall that), and I think that you responded to this kind of question from me previously, so sorry about the redundancy.

I do believe that your system does go to show (even with various fees) that you can come out much ahead, even by employing a BTC hodl and accumulation strategy without selling (except maybe selling when it comes time that you really feel that you need to cash out of some of those babies)

Recall that I started buying at $1200 in late 2013, and after about two years of buying at lower prices, my average price per BTC dropped to a bit more than $500.  It could have been much lower, except I had blown a larger portion of my wadd at buying in the $600 and $400 price territories while experiencing some quasi-unexpected cash flow issues in 2015...

Thereafter, starting in late 2015 I engaged in trading that employed a good system of buying back with money that I had gained in selling, and largely brought my BTC stash up while bringing my average cost per BTC down to below $400 by early 2017.

There seems to be some advantages to limiting your interactions and using paper storage because my keeping some coins on exchanges has resulted in various losses through hacker sophistication to get into my personal credentials and also through exchange vulnerabilities, so sometimes these kinds of exchange related losses and interacting by sending BTC around can end up taking away some BTC profits to lower the total amount of bitcoins held and/or raise the average cost per BTC. 
 
I think that the punchline for me, is that my total number of BTC is lower than it had been in late 2015 because of losses - but my average cost per BTC is less (at least in the $400-ish territory), but mostly due to BTC price appreciation of selling higher and buying lower - even though I am buying back at much higher prices than my average, my average price per BTC keeps going down because I am selling at prices higher than I buy.

Your system seems much more hands off, even though you run out in your pajamas at 2 in the morning.  hahahahaha 

[Torque]

Lol, nobody is buying Roger Ver's bullshit anymore:

https://twitter.com/rogerkver/status/903780652369289216

Just look at all the commenters... #REKT

[gentlemand]

Lol, nobody is buying Roger Ver's bullshit anymore:

https://twitter.com/rogerkver/status/903780652369289216

Just look at all the commenters... #REKT

I'm not sure I've seen a tweet from him in recent years that wasn't projectile defecated all over below it. You've got to admire the sheer bullheadedness at least.

[JayJuanGee]

“In 2013 the central bank in Germany said it wanted its gold back from the UK, France and the US. Here’s the thing, Germany does not want all of its gold back.”
 
“As it is going through its election cycle, there are specific factions of the German government that are pushing to get German gold back to domestically being held. The German elections are in mid-September, it is not a coincidence that this happened just before that. It was to appease political dynamics as well as leasing development of gold


“Bitcoin is a very small market cap compared to gold. I don’t think it has much impact on gold and looks like a bubble right now.”
 
“As someone who has been around Wall Street a long time I’ve seen a lot of different tricks of the trade and frauds that come and go. I am seeing all of the various schemes in bitcoin right now. There’s good forensic evidence that there are people doing wash sales right now and the suckers don’t know they are getting sucked in. Gold is still the ultimate safe haven
 

“I expect to see gold hit $5,000 and eventually to $10,000 an ounce. Maybe not tomorrow or a couple of years but that is the fundamental price of gold as money.”
 
“In a recent conversation with legendary commodity investor Jim Rogers he indicated to me was, ‘nothing goes to that level without a 50% retracing before it resumes its path upwards.’ Moves happen very fast. The question is, what are the catalysts that could take it higher?”

People can and should be allowed to buy bitcoin, but the US Government will in time call them traitors, or terrorists, and seize their assets.

How much is your BTC worth in Huston BTW. ... best  

You are really pie in the sky if you think that Gold is going to appreciate better than BTC in the coming years.

Sure, anything can happen, but you are not being very practical or logical if you believe that various governments can more easily control the movement, storage and hoardings of bitcoin as compared with gold. 

If I have a million in gold?  versus if I have a million in bitcoin? 

bitcoin seems to be much more divisible, portable, lower storage costs, easier to hide (obscure and secure), and even verifiably transparent in terms of getting what you are getting... so sure, you can uptalk gold all you like, but it just does not seem convincing - haven't various governments already made attempts at regulating bitcoin, and they are having some difficulties - not that they are going to discontinue trying, but bitcoin continues as a bit of a puzzle for them in how to deal with it, exactly. 

It seems quite strange that we continue to have goldbugs coming into these bitcoin threads with their hard-ons for gold and pms, and holy fuck has bitcoin been outperforming pms in the past couple of years... holy fuck, holy fuck!!!

[podyx]

Damn, we going down further. Where will the bottom be

[rjclarke2000]

Damn, we going down further. Where will the bottom be

Yeah, that was quite a drop.

[eXpl0sive]

Lol, nobody is buying Roger Ver's bullshit anymore:

https://twitter.com/rogerkver/status/903780652369289216

Just look at all the commenters... #REKT

Hehe...  I just saw his Twitter picture still says 'Bitcoin', not 'Bitcoin Cash'.

His site bitcoin.com also has BTC/USD ticker on top, not BCH. and when you click on 'buy' button, it says 1 Bitcoin = 4500 USD. That means BTC, not BCH! Sucker!

[eXpl0sive]

Damn, we going down further. Where will the bottom be

My gut feeling says somewhere around 4200. Then we go up again.