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

[JayJuanGee]

correction in progress  

Yes. Correcting quite nicely.

It's starting to make last night's little dip look like a beartrap.

But I wanted to buy back a little bit of my BTC satoshis at around 5100.  

Another case of oversold.   

[JayJuanGee]

You should be sympathetic to your fallen Bulls. Especially those that got a little too exuberant and went long at 100x on Bitmex at the wrong time. You should weep for your fallen Bulls.

Sorry, but I find it hard to be sympathetic to people who gamble with leverage. They fall into the category of suckers, be they bulls or bears.

But leverage is a good tool to make a boatload of money. Do you really think you can consistently win Monopoly by refusing to mortgage at an opportune time? I know that's a game, but how do you think Trump made much of his fortunes?

Edit: To all the other respondents above, want to get together for some quick games of Monopoly? I will demonstrate the power of leverage.   You all never mortgage no matter what, and I will. After a few games, we will see who comes out winning the most.  

There are several of us who have boat loads of bitcoin and we never employed leverage to get them.  We either dollar cost average bought or bought on dips and maybe just sold small amounts as the price goes up to buy back, and with a key component of either hodling when the price is going down or buying.

[bones261]

Another case of oversold.  

How is selling .01 BTC at 53xx being oversold? Especially when the market rose like $500 USD the last time that I made a trade. I'm now employing the same system you are employing. Unfortunately, there hasn't been many dips lately to properly get the BTC back.

There are several of us who have boat loads of bitcoin and we never employed leverage to get them.  We either dollar cost average bought or bought on dips and maybe just sold small amounts as the price goes up to buy back, and with a key component of either hodling when the price is going down or buying.

You probably still don't have as much a Spoofy.   You really think Spoofy actually owns all that fiat and BTC to put up those walls on Bitfinex?

[LewisPirenne]

I hope the CoreCoin drop will be worth something. A slightly inferior coin with 1 miner controlling 80% of the hashing power doesn't sound too tasty.

Actually "CoreCoin" is worth around $4,800 now on Bitfinex, vs "SX2Coin" at $850.  The ratio is around 6:1 now, while the high was around 9:1, i.e. Core/SX2 cross rate low is at around 0.11, which is what BCH traded for most of its life before the current plunge. 

Since there is no EDA for SX2, it's hard to imagine mining pools want to mine SX2 at 85% to 90% loss if the above price relationship holds.  So we are probably going to see good percentage of miners to simply bail the SX2 chain soon after it goes live.  Similarly, why would Jihan support a segwit (x2) chain when he has BCH, which he can mine with less loss and possibly with profit via some EDA manipulation.  So it's more likely that as some suggested here, there is going to be a "Three Kingdom" type 3 way battle at first for the hashrate.  With ultimately the market price (and mining profitability) determines hashrate distribution. 

[Paashaas]

Vitalik is going to fork ETH again, i'll keep a close eye how that unfolds.

Will all software users upgrade to the updated blockchain? Or will a new, competing token be created?

ETH looks great op paper but it looks messy to me.

[Dabs]

Vitalik is going to fork ETH again, i'll keep a close eye how that unfolds.

Will all software users upgrade to the updated blockchain? Or will a new, competing token be created?

ETH looks great op paper but it looks messy to me.

I think this latest fork is sort of in consensus. It's not like the forced fork because of a DAO hack. I don't hold much ETH so I guess I'll wait and see. Maybe I'll buy some.

[Torque]

Jim Kramer comments on Bitcoin in 2014. Never forget, the establishment is against us.

https://www.youtube.com/watch?v=2kEySHOd4JU

[BlindMayorBitcorn]

I hope the CoreCoin drop will be worth something. A slightly inferior coin with 1 miner controlling 80% of the hashing power doesn't sound too tasty.

Actually "CoreCoin" is worth around $4,800 now on Bitfinex, vs "SX2Coin" at $850.  The ratio is around 6:1 now, while the high was around 9:1, i.e. Core/SX2 cross rate low is at around 0.11, which is what BCH traded for most of its life before the current plunge. 

Since there is no EDA for SX2, it's hard to imagine mining pools want to mine SX2 at 85% to 90% loss if the above price relationship holds.  So we are probably going to see good percentage of miners to simply bail the SX2 chain soon after it goes live.  Similarly, why would Jihan support a segwit (x2) chain when he has BCH, which he can mine with less loss and possibly with profit via some EDA manipulation.  So it's more likely that as some suggested here, there is going to be a "Three Kingdom" type 3 way battle at first for the hashrate.  With ultimately the market price (and mining profitability) determines hashrate distribution. 

So basically we're looking at a repeat of BCH. There will be a split, BTC will dump to make room for the new token/s, then the new token/s will slowly die, bleeding back into BTC. That the long and short of it?

[bones261]

So basically we're looking at a repeat of BCH. There will be a split, BTC will dump to make room for the new token/s, then the new token/s will slowly die, bleeding back into BTC. That the long and short of it?

Unfortunately, this fork, at its current state, is much more dangerous than BCH since the S2X devs have not enabled strong replay protection at this time. AFAIK, they briefly included some bullshit opt-out protection where people would have to include some dust transaction to a certain address; if they wanted the transaction to only be played on the BTC chain. (This would have effectively bloated the BTC chain)  However, I believe even that BS has been yanked. I hope Garzik does the right thing and implements strong opt-in protection. If not, this may be a mess. We could hope that no pool dare go through with it; just like they did with XT, Classic, and BU. However, S2X has a definite coordinated block number and an "agreement" with this fork. Therefore, many pools might be emboldened to take the plunge with this fork.

I'm hoping Slush implements an easy way to split my coins in my Trezor wallet. However, I think many casual users may end up losing coins. Some of these instructions on splitting your coins made by Bitmex make my eyes glaze over. https://blog.bitmex.com/segwit2x-b2x-hardfork-protect-potentially-profit-part-1-split-coins/

[jojo69]

fuck

off topic, I know...

but it's on in Kirkuk  

https://iraq.liveuamap.com/

[marcus_of_augustus]

In other news, knowingly infecting someone with hiv is no longer a felony in california.

That'll let Weinstein off on a few counts at least ...

what I find bemusing about the whole saga is all the breast-beating by the Hollywood femmes, yes those same starlets that have a long happy history of "sleeping their way to the top". They are actresses after all, we all know what their profession is, it is just the price that is in negotiation. Hollywood is the city of sex and ambition, they even make TV shows called "Californication" about the depths of their primitive, bed-hopping depravity and celebrate it with awards. Now, what about all those lovely girls of low moral standards that engaged with Harvey 'consensually', in a like-for-like transaction, are they then just shit actresses, or indeed the best actresses money can buy? Harvey got caught dipping his fingers in the product, like any good shopkeeper, sampling the merchandise is the only way to really know your trade, sex and depravity has become the main trade of Hollywood, so there ya go. And here's the kicker, Harvey's wife was supposedly "shocked, shocked!" to discover there was sex-for-ambition going on in this establishment ... take a look at her and Weinstein together, shocking indeed.

https://www.youtube.com/watch?v=SjbPi00k_ME

[elrippos friend]

Never going to 50k 

[JayJuanGee]

Another case of oversold.  

How is selling .01 BTC at 53xx being oversold? Especially when the market rose like $500 USD the last time that I made a trade. I'm now employing the same system you are employing. Unfortunately, there hasn't been many dips lately to properly get the BTC back.

You could not be employing the same system as me - because I do not get anxious about buying back at a lower price - especially to fill an order at 4-6% less than I sold (as you suggested that you were planning to buy back in a $200-$300 increment)...

O.k... sure I might get a little anxious but not to the level of hoping for a drop, merely because I sold some... In that regard, each of us needs to be careful about selling too much.  Yes, we have ups and downs in BTC prices, and we should not get too emotional attached to a bit of movement here and there and we should expect volatility that does not necessarily move in our preferred direction.

Sure, we all hope that it flash crashes 50% and fills all our buy orders and then goes back to the previous price, but those are exceptional and lucky circumstances that only occur when we have buy orders down the spectrum... and certainly a situation where preparation meets opportunity (aka.. luck)...


I agree that if you have about 2 BTC, then selling between about .01BTC or .02BTC every $200 to $300 price increase would be reasonable... or somewhere in the neighborhood of 1.5% for every 10% price rise.... but if you have less than 2BTC then your amounts should be less... in order to not oversell.  And, maybe if you only have 2 BT then you have to also figure out other ways (besides hoping for the price to drop) to attempt to increase your stash, too, no?

There are several of us who have boat loads of bitcoin and we never employed leverage to get them.  We either dollar cost average bought or bought on dips and maybe just sold small amounts as the price goes up to buy back, and with a key component of either hodling when the price is going down or buying.

You probably still don't have as much a Spoofy.   You really think Spoofy actually owns all that fiat and BTC to put up those walls on Bitfinex?

I am not really trying to compete with anyone regarding quantity of bitcoin that I have, and I was only trying to assert that any of us should be able to work at acquiring a lot of bitcoin (especially if you use time tested tactics such as DCA and buying on dips) without leveraging or employing gambling trade tactics.


Edit:

By the way Bones261, I just did a recalculation of my BTC holdings and a quickie review of my BTC strategy... in the most recent price run up from $4,850 to $5,850 and then resting back in the $5,500 to $5,700 arena, I had transitioned my whole incremental trading from $100 to $200 increments.  

So yeah, where I used to buy back every $100, now I have to wait $200 increments for both selling and buying back.  So certainly, the buy/sells do not trigger as often, and yeah a guy could get a little anxious about buy backs not triggering.. but  on the other hand, I set my sell increments and amounts to such a level that I try not to be attached to whether they fill or not.. and the money continues to pile up on both ends.  

I continue to have a lot of bitcoins and I continue to have a lot of dollars to buy back.  

Currently, in my BTC trading funds, I am about 90.5% bitcoins and 9.5% fiat.  With about 78% of my fiat, I have preset buy orders down to about 50% retracement (that is $2,800).   Sure, I could set the buy back orders lower or change the amounts, but it ends up being a lot of money and a lot of proportion of my buy back that would be exhausted if BTC prices were to suddenly experience a 50% retracement and sure a bit of a dedication towards upside too with sell orders set to more than 100% upside prices.. ... (Actually, currently, I have many of my sell orders preset to about $13k... hahahahahha.. .looks pretty funny having preset orders up to that amount.. but i suppose if the price suddenly flash crashes upwards, then I have committed to selling certain amounts at certain prices) .. but part of my point is that there are both upside and downside possibilities and our orders should be staggered up and down the books - but we should not get too attached to whether shorter increment orders of 4% or 10% fill or not because, it is possible that we could get 20% or even 40% or more corrections.. same withe the upside, we could experience another more than 50% or 100% price explosion without any significant correction and at that point, we have whatever quantity of BTC that we have.... based, in part, on our preplanning.

[BlindMayorBitcorn]

I hope Garzik does the right thing

I have it on good authority that BitPay operates almost entirely on spite. It's in their mission statement.

[becoin]

People whose longs got liquidated. Especially if using Bitmex. You people are mean. Not everyone that sells at the bottom are bears. Some are bulls who went long at the wrong time.

In Bitcoin there is no such thing as wrong time to go long!

[u9y42]

https://bitcointalk.org/index.php?topic=2273127.0 (Total Pants Token)

Is this your doing, BMB? Is this what all those pants you took were used for?

[BlindMayorBitcorn]

https://bitcointalk.org/index.php?topic=2273127.0 (Total Pants Token)

Is this your doing, BMB? Is this what all those pants you took were used for?

 

What's a waves token? Nevermind, don't answer that. Babysitting Bit tokens is already doing my head in.

[NUFCrichard]

I hope the CoreCoin drop will be worth something. A slightly inferior coin with 1 miner controlling 80% of the hashing power doesn't sound too tasty.

Actually "CoreCoin" is worth around $4,800 now on Bitfinex, vs "SX2Coin" at $850.  The ratio is around 6:1 now, while the high was around 9:1, i.e. Core/SX2 cross rate low is at around 0.11, which is what BCH traded for most of its life before the current plunge. 

Since there is no EDA for SX2, it's hard to imagine mining pools want to mine SX2 at 85% to 90% loss if the above price relationship holds.  So we are probably going to see good percentage of miners to simply bail the SX2 chain soon after it goes live.  Similarly, why would Jihan support a segwit (x2) chain when he has BCH, which he can mine with less loss and possibly with profit via some EDA manipulation.  So it's more likely that as some suggested here, there is going to be a "Three Kingdom" type 3 way battle at first for the hashrate.  With ultimately the market price (and mining profitability) determines hashrate distribution. 

Is there anywhere with a Bitcoin Gold price?
I guess it will be 0.0x BTC but it is interesting to me anyway as I think it would be a step back from the centralization that has been going on for years.

It looks like Sx2 coin will die, it falls between Cash and Core becoming fairly pointless, you either want bigger blocks or you don't.

[JayJuanGee]

People whose longs got liquidated. Especially if using Bitmex. You people are mean. Not everyone that sells at the bottom are bears. Some are bulls who went long at the wrong time.

In Bitcoin there is no such thing as wrong time to go long!

Yeah, but he is cryptically talking about going leverage long ... which could be a different story, if his leveraged position gets called.

[soullyG]

So it looks like $5426 was our low, we're moving up to ATH now hopefully