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

[JayJuanGee]

Dead at the hands of the PBOC dynasty!
All my lay-friends who got in recently are bugging me, I told them sell or pray, these are galvanizing times

So when/where is the funeral?   

You are going to get yourself in a pickle if you are giving that kind of advice.

First you should attempt from giving any advice at all, but if you do give advice it should be to hodl or wait to buy.. you don't be so fucken dumb as to tell people to sell when the price dropped 25% already... 

Is that what you are doing?  Are you selling now?

Sometimes, I don't tell people what to do, but I will tell them what I am doing which is kind of a suggestion that they could consider something similar.. but in the end, they are on their own.  Every man for himself.. even if he is not a he.   

[cmacwiz]

Dead at the hands of the PBOC dynasty!
All my lay-friends who got in recently are bugging me, I told them sell or pray, these are galvanizing times

So when/where is the funeral?   

You are going to get yourself in a pickle if you are giving that kind of advice.

First you should attempt from giving any advice at all, but if you do give advice it should be to hodl or wait to buy.. you don't be so fucken dumb as to tell people to sell when the price dropped 25% already... 

Is that what you are doing?  Are you selling now?

Sometimes, I don't tell people what to do, but I will tell them what I am doing which is kind of a suggestion that they could consider something similar.. but in the end, they are on their own.  Every man for himself.. even if he is not a he.   

Look, my strategy always yields consistent results. When btc goes down and everything is red it's all scary, so I just fear dump
And when it goes up up up, I try to snag some standing room only in the cargo bay of the rocket

[savetherainforest]

Had to sell a bit to cover Q3 taxes and equipment. I hate selling on a dip, drat....

A sign of being overly invested.. in other words, you do not have your expenses projected out on a long enough timeline in order to provide you a large enough float.. whether that float needs to be $1k or $10k or $20k is something for you to determine ( but seems like you don't quite have it down, yet).  

I tend to project my expenses out a minimum of 6 months and frequently into the 18months or more timeline... so a lillie dip like this (and only for about 2 weeks) has not been going on long enough to cause anything close to cash flow pressures - Sure, if it goes on for 6 months or it goes down another 50%, then that could be another story for me, and I would want to start adjusting now for what could happen 6 months from now so I am not selling at the bottom, if that were the case.

hello JayJuanGee,
How do you know it will go down for 6 months or another 50%, before such event happens?  I have what I hope is a float of at least 4-6 years, which seems reasonable since we were in a prolonged bear market after 2013 and we should assume that history will repeat...  How do you avoid forced sales with only 6-18 months of float, based on the 2014-2016 bear market?

By the way I wish I could be confident about holding less float in fiat, but just a correction of a couple of weeks messes with my head since I decided to resign from my regular job/steady income since I became a high net-worth bitcoiner.

Kid... run! ... before JJG bullsh!ts you to death with a book written by him as thick as the bible! .. nvm... too late! He already wrote a page worth of your time of bs.!

The price is actually predictable.. if you check a few pages ago... there was a guy telling a week in advance that Fibonacci predicted it should go to ~3800$. And that is exactly what happened. And from my understanding, it was the last dip/correction. Now we wait for pwmp!


*edit(0):  Fibonacci was a mathematician that lived 800-900 years ago!

[Torque]

So combing through all the MSM web articles today, TIL two things:

1. Bitcoin is clearly a fraud and a pyramid scheme. Because Jamie Dimon said so. Average Joe, stay far away. Stay away, dammit! Please?!

2. They really REALLY want you buy the new iPhoneX. Because it's supposedly "awesome". And a "game changer". No really. Never mind that it costs $1K. Or that face recognition stuff where Apple will forever store your face recog profile in the cloud along with all your other personal info. I mean, no way that the NSA or hackers could get access to that info. Right? Sure, sure.

[jojo69]

Look, my strategy always yields consistent results.

giggle

[jbreher]

2. They really REALLY want you buy the new iPhoneX. Because it's supposedly "awesome". And a "game changer". No really. Never mind that it costs $1K. Or that face recognition stuff where Apple will forever store your face recog profile in the cloud along with all your other personal info. I mean, no way that the NSA or hackers could get access to that info. Right? Sure, sure.

You seem to have either:
1) a fundamental misunderstanding of the (disclosed) details of how the face recog stuff works; or
2) insider knowledge which contradicts Apple's public statements.

Which is it?

Reminds me of all the false FUD surrounding the details of the inner workings of Apple Pay that used to circulate on this forum a year or two ago.

[sirazimuth]

Sometimes when i take a step back and looks at things, it feels totally insane to buy an internet token over 4000 dollars 

It feels totally insane to buy one Bitcoin for only 4000 Fed tokens!

Fed tokens aren't what they used to be

Fed tokens? what ICO is that? 

[Torque]

2. They really REALLY want you buy the new iPhoneX. Because it's supposedly "awesome". And a "game changer". No really. Never mind that it costs $1K. Or that face recognition stuff where Apple will forever store your face recog profile in the cloud along with all your other personal info. I mean, no way that the NSA or hackers could get access to that info. Right? Sure, sure.

You seem to have either:
1) a fundamental misunderstanding of the (disclosed) details of how the face recog stuff works; or
2) insider knowledge which contradicts Apple's public statements.

Which is it?

Reminds me of all the false FUD surrounding the details of the inner workings of Apple Pay that used to circulate on this forum a year or two ago.

Shut up troll

[Elwar]

Dead at the hands of the PBOC dynasty!
All my lay-friends who got in recently are bugging me, I told them sell or pray, these are galvanizing times

So when/where is the funeral?   

You are going to get yourself in a pickle if you are giving that kind of advice.

First you should attempt from giving any advice at all, but if you do give advice it should be to hodl or wait to buy.. you don't be so fucken dumb as to tell people to sell when the price dropped 25% already... 

Is that what you are doing?  Are you selling now?

Sometimes, I don't tell people what to do, but I will tell them what I am doing which is kind of a suggestion that they could consider something similar.. but in the end, they are on their own.  Every man for himself.. even if he is not a he.   

Look, my strategy always yields consistent results. When btc goes down and everything is red it's all scary, so I just fear dump
And when it goes up up up, I try to snag some standing room only in the cargo bay of the rocket

Best advice to give friends that want help with bitcoins is to have them send you the money to buy bitcoins directly from the source (wholesale, not that retail shit). Then e-mail them the public key with the amount of money they have in it. Tell them to hold at least 10 years and don't check that address too much because it overloads the system.

[Wexlike]

Tell them to hold at least 10 years and don't check that address too much because it overloads the system.

LOL, I really love you sometimes. 

[lightfoot]

Had to sell a bit to cover Q3 taxes and equipment. I hate selling on a dip, drat....

A sign of being overly invested.. in other words, you do not have your expenses projected out on a long enough timeline in order to provide you a large enough float.. whether that float needs to be $1k or $10k or $20k is something for you to determine ( but seems like you don't quite have it down, yet). 

I tend to project my expenses out a minimum of 6 months and frequently into the 18months or more timeline... so a lillie dip like this (and only for about 2 weeks) has not been going on long enough to cause anything close to cash flow pressures - Sure, if it goes on for 6 months or it goes down another 50%, then that could be another story for me, and I would want to start adjusting now for what could happen 6 months from now so I am not selling at the bottom, if that were the case.

Incorrect. I run a business here, one that needs to pay for itself first. If I were to pay for things using pocket money then I would be essentially investing that in bitcoin, which is not my intent. Therefore when I have to buy supplies I batch withdraw some bitcoin and note it in the ledger. Same with taxes and such.

Besides this little dip is in the middle of the most amazing run ever. I don't try to time the market, I let the chips fall where they may.

[JayJuanGee]

Had to sell a bit to cover Q3 taxes and equipment. I hate selling on a dip, drat....

A sign of being overly invested.. in other words, you do not have your expenses projected out on a long enough timeline in order to provide you a large enough float.. whether that float needs to be $1k or $10k or $20k is something for you to determine ( but seems like you don't quite have it down, yet). 

I tend to project my expenses out a minimum of 6 months and frequently into the 18months or more timeline... so a lillie dip like this (and only for about 2 weeks) has not been going on long enough to cause anything close to cash flow pressures - Sure, if it goes on for 6 months or it goes down another 50%, then that could be another story for me, and I would want to start adjusting now for what could happen 6 months from now so I am not selling at the bottom, if that were the case.

Incorrect. I run a business here, one that needs to pay for itself first. If I were to pay for things using pocket money then I would be essentially investing that in bitcoin, which is not my intent. Therefore when I have to buy supplies I batch withdraw some bitcoin and note it in the ledger. Same with taxes and such.

Besides this little dip is in the middle of the most amazing run ever. I don't try to time the market, I let the chips fall where they may.

I let my comments stand where they may, too, and it seems to make little to no difference that you are "running a business." 

The same principles apply regarding cashflow management and figuring out ways to minimize the need to make sales of a volatile asset at the potential bottom... that is if you have any kind of choice and control in structuring those kinds of matters... .. whether my comments apply to your situation or not, that is up to you to decide and apparently you are deciding that my comments do not apply to your situation.   I have no problem with that because you should know your situation better than anyone else, and I was merely commenting upon the situation that you seemed to have been presenting.

Further,  I understand that if you have a business that is structured to merely sell no matter what the price, then that seems to be a different story, and might not even warrant a comment in this thread because the business is set up that way, since in that kind of case you would have been selling no matter what the price... and just perhaps hoping the price would have been higher... but may not really matter, if you already set up the business in that kind of .. sell right away way.

[notme]

Had to sell a bit to cover Q3 taxes and equipment. I hate selling on a dip, drat....

A sign of being overly invested.. in other words, you do not have your expenses projected out on a long enough timeline in order to provide you a large enough float.. whether that float needs to be $1k or $10k or $20k is something for you to determine ( but seems like you don't quite have it down, yet). 

I tend to project my expenses out a minimum of 6 months and frequently into the 18months or more timeline... so a lillie dip like this (and only for about 2 weeks) has not been going on long enough to cause anything close to cash flow pressures - Sure, if it goes on for 6 months or it goes down another 50%, then that could be another story for me, and I would want to start adjusting now for what could happen 6 months from now so I am not selling at the bottom, if that were the case.

Incorrect. I run a business here, one that needs to pay for itself first. If I were to pay for things using pocket money then I would be essentially investing that in bitcoin, which is not my intent. Therefore when I have to buy supplies I batch withdraw some bitcoin and note it in the ledger. Same with taxes and such.

Besides this little dip is in the middle of the most amazing run ever. I don't try to time the market, I let the chips fall where they may.

That's crazy, you should do it the JJG way.  Project your expenses 6 months from now and then sell at the top so you don't have to sell during a "lillie dip".  How hard is that?  If you don't have perfect market timing then you must be "overly invested".



Or just put him on ignore.  He is the first and only person I've ever ignored and it is blissful.  So arrogant and loves to see himself type.

[fallinglantern]

Anyone has some correlation between price and difficulty at the ready?

They aren't directly correlated, but in the past couple years, the USD price per GH/s has not dropped much below 3E-07 USD/GH/s. Right now we're at 6.85E-07. Assuming price stays flat until the next difficulty jump, that would bring us to 5.8E-07. That's elevated, but within trend for April-July. Based on the historical floor of 3E-07, price shouldn't drop below $2340 USD.

[Paashaas]

After Bitstamp now Bit-Go is rolling out Segwit

https://blog.bitgo.com/transactions-are-getting-cheaper-segwit-now-on-bitgo-fe445e4f7f50

[sidhujag]

Had to sell a bit to cover Q3 taxes and equipment. I hate selling on a dip, drat....

A sign of being overly invested.. in other words, you do not have your expenses projected out on a long enough timeline in order to provide you a large enough float.. whether that float needs to be $1k or $10k or $20k is something for you to determine ( but seems like you don't quite have it down, yet). 

I tend to project my expenses out a minimum of 6 months and frequently into the 18months or more timeline... so a lillie dip like this (and only for about 2 weeks) has not been going on long enough to cause anything close to cash flow pressures - Sure, if it goes on for 6 months or it goes down another 50%, then that could be another story for me, and I would want to start adjusting now for what could happen 6 months from now so I am not selling at the bottom, if that were the case.

Incorrect. I run a business here, one that needs to pay for itself first. If I were to pay for things using pocket money then I would be essentially investing that in bitcoin, which is not my intent. Therefore when I have to buy supplies I batch withdraw some bitcoin and note it in the ledger. Same with taxes and such.

Besides this little dip is in the middle of the most amazing run ever. I don't try to time the market, I let the chips fall where they may.

I let my comments stand where they may, too, and it seems to make little to no difference that you are "running a business." 

The same principles apply regarding cashflow management and figuring out ways to minimize the need to make sales of a volatile asset at the potential bottom... that is if you have any kind of choice and control in structuring those kinds of matters... .. whether my comments apply to your situation or not, that is up to you to decide and apparently you are deciding that my comments do not apply to your situation.   I have no problem with that because you should know your situation better than anyone else, and I was merely commenting upon the situation that you seemed to have been presenting.

Further,  I understand that if you have a business that is structured to merely sell no matter what the price, then that seems to be a different story, and might not even warrant a comment in this thread because the business is set up that way, since in that kind of case you would have been selling no matter what the price... and just perhaps hoping the price would have been higher... but may not really matter, if you already set up the business in that kind of .. sell right away way.

Similar to miners which do not account for projected earnings its here and now. These other businesses are the same. Miner variance is too high which reduced decentralization in bitcoin which is a result of this phenomenon.

[JayJuanGee]

Had to sell a bit to cover Q3 taxes and equipment. I hate selling on a dip, drat....

A sign of being overly invested.. in other words, you do not have your expenses projected out on a long enough timeline in order to provide you a large enough float.. whether that float needs to be $1k or $10k or $20k is something for you to determine ( but seems like you don't quite have it down, yet). 

I tend to project my expenses out a minimum of 6 months and frequently into the 18months or more timeline... so a lillie dip like this (and only for about 2 weeks) has not been going on long enough to cause anything close to cash flow pressures - Sure, if it goes on for 6 months or it goes down another 50%, then that could be another story for me, and I would want to start adjusting now for what could happen 6 months from now so I am not selling at the bottom, if that were the case.

Incorrect. I run a business here, one that needs to pay for itself first. If I were to pay for things using pocket money then I would be essentially investing that in bitcoin, which is not my intent. Therefore when I have to buy supplies I batch withdraw some bitcoin and note it in the ledger. Same with taxes and such.

Besides this little dip is in the middle of the most amazing run ever. I don't try to time the market, I let the chips fall where they may.

That's crazy, you should do it the JJG way.  Project your expenses 6 months from now and then sell at the top so you don't have to sell during a "lillie dip".  How hard is that?  If you don't have perfect market timing then you must be "overly invested".



Or just put him on ignore.  He is the first and only person I've ever ignored and it is blissful.  So arrogant and loves to see himself type.

I would like to see myself type.... NOT  me.   

[nanobtc]

[jojo69]

2. They really REALLY want you buy the new iPhoneX. Because it's supposedly "awesome". And a "game changer". No really. Never mind that it costs $1K. Or that face recognition stuff where Apple will forever store your face recog profile in the cloud along with all your other personal info. I mean, no way that the NSA or hackers could get access to that info. Right? Sure, sure.

You seem to have either:
1) a fundamental misunderstanding of the (disclosed) details of how the face recog stuff works; or
2) insider knowledge which contradicts Apple's public statements.

Which is it?

Reminds me of all the false FUD surrounding the details of the inner workings of Apple Pay that used to circulate on this forum a year or two ago.

wow...I been putting up with the bear at the pick-nick table too, but this...


wow, OK folks please google CV dazzle, also hijab? not such a bad idea as it turns out...

[explorer]

Had to sell a bit to cover Q3 taxes and equipment. I hate selling on a dip, drat....

A sign of being overly invested.. in other words, you do not have your expenses projected out on a long enough timeline in order to provide you a large enough float.. whether that float needs to be $1k or $10k or $20k is something for you to determine ( but seems like you don't quite have it down, yet). 

I tend to project my expenses out a minimum of 6 months and frequently into the 18months or more timeline... so a lillie dip like this (and only for about 2 weeks) has not been going on long enough to cause anything close to cash flow pressures - Sure, if it goes on for 6 months or it goes down another 50%, then that could be another story for me, and I would want to start adjusting now for what could happen 6 months from now so I am not selling at the bottom, if that were the case.

Incorrect. I run a business here, one that needs to pay for itself first. If I were to pay for things using pocket money then I would be essentially investing that in bitcoin, which is not my intent. Therefore when I have to buy supplies I batch withdraw some bitcoin and note it in the ledger. Same with taxes and such.

Besides this little dip is in the middle of the most amazing run ever. I don't try to time the market, I let the chips fall where they may.

That's crazy, you should do it the JJG way.  Project your expenses 6 months from now and then sell at the top so you don't have to sell during a "lillie dip".  How hard is that?  If you don't have perfect market timing then you must be "overly invested".



Or just put him on ignore.  He is the first and only person I've ever ignored and it is blissful.  So arrogant and loves to see himself type.

LOL

https://bitcointalk.org/index.php?topic=178336.msg6090318#msg6090318