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

[jbreher]

The entire Bitcoin marketcap, in comparison, is just the money needed to absorb just a few months of the global gold mining production.

Aye. Well, if you consider eight to be 'a few'. And three years ago, Bitcoin's market cap would have absorbed 'just a few weeks of the global gold mining production.' The trend is my friend.










OTOH, the trend hates you.

[AlexGR]

The entire Bitcoin marketcap, in comparison, is just the money needed to absorb just a few months of the global gold mining production.

Aye. Well, if you consider eight to be 'a few'. And three years ago, Bitcoin's market cap would have absorbed 'just a few weeks of the global gold mining production.' The trend is my friend.

OTOH, the trend hates you.

It's still "weeks", if you don't bother counting up to 39

[JayJuanGee]

Finding it difficult to concentrate at work

Same problem. Well today is a holy day so no problem, but since this summer, and it has worsened recently, I care less and less about my job.

During the summer I had decided that I needed my BTC stash to be worth a certain amount of euros, then, considering how I'm able to grow that stash, I could quit my job and live off the earned BTC. I thought this could happen in the middle of next year at the earliest, but today it has happened.

It would not be reasonable to quit my job right away, but I can't see myself continuing for years, that's for sure.

Does your plan account for any possible scenario that bitcoin could lose 50% of its value? 

I am not saying that bitcoin is going to lose 50% of its value from the current price but it is not an unrealistic scenario or assumption.

Furthermore, for example, if we experience another 2x or 3x in a very short period of time (let's say 2weeks or even 2 months, but the 2 month price explosion, if it were to happen, could be higher than 3x), then after any such quick additional exponential growth such as in the framework that I mention, we could thereafter be subject to a 70% or even possible 90% peaks price correction scenario - although the 90% seems less likely but if we went to $30k, for example, then peaks of a 90% could be quasi-reasonably within the cards)

[philip2000uk]

So is this why it's going up
https://www.coindesk.com/bright-futures-bitcoin-climbs-cme-news-can-gains-continue/

[pfrtlpfmpf]

A very late good morning Bitcoinland. I was woken at the crack of noon by the phone ringing and the door pounding and haven't had a chance to check in until now.

I see we kept last night's gains and reached another ATH before sliding back a little... currently $6620USD/$8527CAD (Bitcoinaverage).

AltCash also holding its own at $495USD/$637CAD (Coinmarketcap).

Life is good. Go Bitcoin go.

What other activities do you do? I mean other than sleeping.
I envy you.  

He buys dips... All the dips.

*THAT* I envy

That must be great: Waking up, buy the dip, back to sleep  

[JayJuanGee]

I follow the upcoming Bcash hard fork but it's turning into a major shitshow...suprise suprise  

So one of the Bcash devs are using his algorithm instead of going with consensus while they realease spec without coding and all done behind close-doors

I'm not a coder but i'm sure you need to code first, spec and comments after...

All of this within a 2 week time line lol.

HUH?

I find this discussion confusing.  Are you really talking about Bcash, or are you referring to segwit2x, especially since you are mentioning a "2 week timeline"?

[julian071]

My eleven year old daughter says hi to you all. She is very satisfied with the gains her bitcoin made today.

[Arriemoller]

My eleven year old daughter says hi to you all. She is very satisfied with the gains her bitcoin made today.

Say hi back. Hope she gets rich!

[aesma]

I don't want to actually 'retire' at all.  I am fine for money now, but I don't want to have nothing to do, no reason to get up in the morning...

To be smart enough to get into Bitcoin, it requires a risk-taking and adventurous nature - I can't see how 'sitting on a beach' is going to be any fun at all for the majority of us!

I have some land overseas in a place I am fond of and I am looking at building there, perhaps to rent out for a while (it will pay for itself then) and it can either be where I go to for breaks, or to retire, or help out my income in old age.

I still run a business, but I just put all the staff on a profit share and told then I won't be around as much, so it's more up to them.  They are working much harder now, so the business is growing more, it's great to see.  I am now going in to work when I feel like it, just to cheer them on - I no longer have to, I enjoy it. I did just buy a new car, not a lambo - but something classy that isn't pretenetious and feels a pleasure to drive.  To have nowhere to go and no reson to go in it woudl be heartbreaking.

Us Bitcoiner, we can't do 'nothing'  - but we can do something positive, which we enjoy.  We can all trust our investment instincts, right - so cash a litte out and well, invest it in something we are excited about - that we can enjoy.

Oh - and (if you're already much better off) don't keep waiting forever to cash something out, it may not last forever and life certainly doesn't.

I guess I'm adventurous in some ways and not adventurous in others. I like to jump out of perfectly functioning airplanes at 12000 feet. But I never thought about creating a business, because it seemed to be too much work.

Now, my job is very dull and I guess working a lot but for something you really like would not be that bad in comparison.

I used to be unemployed for a long time, even when I started into cryptocurrencies, and when I finally was offered a job that I was going to be good at, my goals were simple : save the maximum of money possible, make it grow by investing wisely, and buying a house after a few years thanks to that money, all the while getting very good at my job to grow into my company. The first part worked better than planned, I'm very good at my job too, but to grow into my company, you must suck dick or something, or just wait for years. After 6 months I was better at it than colleagues with a lifetime of experience, but I still earn much less. I'm also the only one who can speak English, in fact amongst about 50 colleagues doing a similar job none of them speak English, when more and more we need to call tech support and generally communicate in English, all documentation is in English, all help you can find on the web is in English, etc.

So now I'm considering quitting, not to do something else but as a bargaining chip to get a new contract, better paid, and with better incentives (a car I could use outside work). If BTC stays above 3000€ for the next 6 months I'll do it, and too bad if they let me go.

[pfrtlpfmpf]

I follow the upcoming Bcash hard fork but it's turning into a major shitshow...suprise suprise  

So one of the Bcash devs are using his algorithm instead of going with consensus while they realease spec without coding and all done behind close-doors

I'm not a coder but i'm sure you need to code first, spec and comments after...

All of this within a 2 week time line lol.

HUH?

I find this discussion confusing.  Are you really talking about Bcash, or are you referring to segwit2x, especially since you are mentioning a "2 week timeline"?

I mix all this forks up, too. Getting my head around it slowly.

Imagine, what a "Newbie" thinks right now !

[Last of the V8s]

I follow the upcoming Bcash hard fork but it's turning into a major shitshow...suprise suprise  

So one of the Bcash devs are using his algorithm instead of going with consensus while they realease spec without coding and all done behind close-doors

I'm not a coder but i'm sure you need to code first, spec and comments after...

All of this within a 2 week time line lol.

HUH?

I find this discussion confusing.  Are you really talking about Bcash, or are you referring to segwit2x, especially since you are mentioning a "2 week timeline"?

bcash is hard forking again at the same time as the s2x fork. simple

[aesma]

Finding it difficult to concentrate at work

Same problem. Well today is a holy day so no problem, but since this summer, and it has worsened recently, I care less and less about my job.

During the summer I had decided that I needed my BTC stash to be worth a certain amount of euros, then, considering how I'm able to grow that stash, I could quit my job and live off the earned BTC. I thought this could happen in the middle of next year at the earliest, but today it has happened.

It would not be reasonable to quit my job right away, but I can't see myself continuing for years, that's for sure.

Does your plan account for any possible scenario that bitcoin could lose 50% of its value? 

I am not saying that bitcoin is going to lose 50% of its value from the current price but it is not an unrealistic scenario or assumption.

Furthermore, for example, if we experience another 2x or 3x in a very short period of time (let's say 2weeks or even 2 months, but the 2 month price explosion, if it were to happen, could be higher than 3x), then after any such quick additional exponential growth such as in the framework that I mention, we could thereafter be subject to a 70% or even possible 90% peaks price correction scenario - although the 90% seems less likely but if we went to $30k, for example, then peaks of a 90% could be quasi-reasonably within the cards)

Yes and no. I know it can happen, have lived through it already, but I don't really believe it can happen.

If I were to quit my job, I could always find another one if worse came to worse, especially in the current environment. I would probably go for temp work. I would also keep enough fiat in hand to weather a year of low prices, maybe more to actually buy such a dip.

[aesma]

I follow the upcoming Bcash hard fork but it's turning into a major shitshow...suprise suprise 

So one of the Bcash devs are using his algorithm instead of going with consensus while they realease spec without coding and all done behind close-doors

I'm not a coder but i'm sure you need to code first, spec and comments after...

All of this within a 2 week time line lol.

HUH?

I find this discussion confusing.  Are you really talking about Bcash, or are you referring to segwit2x, especially since you are mentioning a "2 week timeline"?

bcash is hard forking again at the same time as the s2x fork. simple

Too much fork action, I've missed that. When is the fork happening ? I must get my coins out of exchanges I guess.

[bitserve]

Finding it difficult to concentrate at work

Same problem. Well today is a holy day so no problem, but since this summer, and it has worsened recently, I care less and less about my job.

During the summer I had decided that I needed my BTC stash to be worth a certain amount of euros, then, considering how I'm able to grow that stash, I could quit my job and live off the earned BTC. I thought this could happen in the middle of next year at the earliest, but today it has happened.

It would not be reasonable to quit my job right away, but I can't see myself continuing for years, that's for sure.

Does your plan account for any possible scenario that bitcoin could lose 50% of its value?  

I am not saying that bitcoin is going to lose 50% of its value from the current price but it is not an unrealistic scenario or assumption.

Furthermore, for example, if we experience another 2x or 3x in a very short period of time (let's say 2weeks or even 2 months, but the 2 month price explosion, if it were to happen, could be higher than 3x), then after any such quick additional exponential growth such as in the framework that I mention, we could thereafter be subject to a 70% or even possible 90% peaks price correction scenario - although the 90% seems less likely but if we went to $30k, for example, then peaks of a 90% could be quasi-reasonably within the cards)

Yes and no. I know it can happen, have lived through it already, but I don't really believe it can happen.

If I were to quit my job, I could always find another one if worse came to worse, especially in the current environment. I would probably go for temp work. I would also keep enough fiat in hand to weather a year of low prices, maybe more to actually buy such a dip.

How old are you aesma? If I can ask...

I seem to remember you had around 20 BTC which, even if it is a good cushion, it is nowhere enough to think about retiring or living out of it. I mean, just not yet. Maybe I remember wrong.

OTOH, it is a good enough cushion to risk changing jobs and trying to "upgrade" while you can see how your stash evolves in the future. Just don't quit before you have the better job on hand.

[JayJuanGee]

My eleven year old daughter says hi to you all. She is very satisfied with the gains her bitcoin made today.

Say hi back. Hope she gets rich!

An 11 year old should not have full title to bitcoin that was "given" to her.

You gotta build character in her first...

 

Otherwise, she become SPOILT BRATT    , if she already NOT one.   

[JimboToronto]

oh god i can't stand the curiosity any more

Jimbo who was at the door?

Luckily someone who owed me money, and just in time too. I may be paper rich now but I'm still pocket poor.

I'm still recovering from buying the dips in September and a couple of weeks ago.

Life is good. Go Bitcoin go.

What other activities do you do? I mean other than sleeping.
I envy you.  

I'm basically retired, so my main activities are sex and herbs and rock and roll. I do a lot of partying, still play regularly with several bands and attend baseball games during season. I spend a lot of time at the bar. I also like spending time in the forest or at the lake. I'm thinking of "buying" a few acres of jungle in the Yucatan on Mayan land. I can do it with Bitcoin, no fiat involved.

I collect a couple of pensions and make a little extra here and there from various businesses, hustles and scams. I jump on bargains and sell them for a profit. By far my main source of income is Bitcoin but all my profits stay in Bitcoin (for now). I used to mine.

I've bounced between poverty and semi-wealth all my life. Now I've achieved a certain level of stability thanks to Bitcoin. I'm proud to say I haven't had a "real" job since 1976. Getting paid for a hobby doesn't count. I've learned to resist unnecessary spending and live cheaply.

As I said, life is good.

[JayJuanGee]

I follow the upcoming Bcash hard fork but it's turning into a major shitshow...suprise suprise  

So one of the Bcash devs are using his algorithm instead of going with consensus while they realease spec without coding and all done behind close-doors

I'm not a coder but i'm sure you need to code first, spec and comments after...

All of this within a 2 week time line lol.

HUH?

I find this discussion confusing.  Are you really talking about Bcash, or are you referring to segwit2x, especially since you are mentioning a "2 week timeline"?

bcash is hard forking again at the same time as the s2x fork. simple

Oh yeah.  Thanks.  I forgot about that one, and yeah, the projected Bcash hardfork is approximately a couple of days before the projected segwit2x hardfork  - o... k...   Now I get the reference..   Makes more sense.   

[Wekkel]

Everything that goes on, sooner or later comes back down.

I guess the Internet went down as well, not to speak of the combustion engine. But in all fairness, bubble peaks will also bring bear throughs. But I see no bubble yet. First we need to hit $25k, and soon.

[JayJuanGee]

Finding it difficult to concentrate at work

Same problem. Well today is a holy day so no problem, but since this summer, and it has worsened recently, I care less and less about my job.

During the summer I had decided that I needed my BTC stash to be worth a certain amount of euros, then, considering how I'm able to grow that stash, I could quit my job and live off the earned BTC. I thought this could happen in the middle of next year at the earliest, but today it has happened.

It would not be reasonable to quit my job right away, but I can't see myself continuing for years, that's for sure.

Does your plan account for any possible scenario that bitcoin could lose 50% of its value?  

I am not saying that bitcoin is going to lose 50% of its value from the current price but it is not an unrealistic scenario or assumption.

Furthermore, for example, if we experience another 2x or 3x in a very short period of time (let's say 2weeks or even 2 months, but the 2 month price explosion, if it were to happen, could be higher than 3x), then after any such quick additional exponential growth such as in the framework that I mention, we could thereafter be subject to a 70% or even possible 90% peaks price correction scenario - although the 90% seems less likely but if we went to $30k, for example, then peaks of a 90% could be quasi-reasonably within the cards)

Yes and no. I know it can happen, have lived through it already, but I don't really believe it can happen.

If I were to quit my job, I could always find another one if worse came to worse, especially in the current environment. I would probably go for temp work. I would also keep enough fiat in hand to weather a year of low prices, maybe more to actually buy such a dip.

Don't mean to be critical, but your plan seems fairly inadequate and without a proper cushionings...  

Maybe it is my own conservative approach to these kinds of financial matters .. but cushions are frequently needed, including decent preparations for worse case scenarios.

[edited out]

How old are you aesma? If I can ask...

I seem to remember you had around 20 BTC which, even if it is a good cushion, it is nowhere enough to think about retiring or living out of it. I mean, just not yet. Maybe I remember wrong.

OTOH, it is a good enough cushion to risk changing jobs and trying to "upgrade" while you can see how your stash evolves in the future.

Exactamente Bitserve!!!  You beat me to making this point, better than me.   

[Last of the V8s]

https://bashco.github.io/2x_Countdown/
Thursday, November 16, 2017, 9:38 AM
Greenwich Mean Time
This is a rough estimate based on the current block height, proposed block height
to attempt a hard fork, and an average block time of ten minutes per block.
current block: 492686
fork block: 494784
blocks remaining: 2098


https://www.bitcoinabc.org/november
Bitcoin ABC has published version 0.16.0 which contains an updated Difficulty Adjustment Algorithm (DAA).  

This is a change to the Bitcoin Cash consensus rules, but the change does not activate until November 13th.  This is a hard fork, so exchanges, wallets, and other software need to upgrade before November 13th.