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

[JayJuanGee]

I appear to have mastered the art of selling low and buying high...

it´s the other way around, but i have to admit, it´s not easy !

Even though a lot of people do seem to have a kind of gambling mindset (maybe myself included).  When I talk to people in these forums and even in real life, I find that people kind of gravitate towards all or nothing thinking, but if they really focus on buying as the price goes down and then selling as the price goes up, then buying low and selling high (which is the correct way to do it) just falls into place.  

So personally, I believe it is just a matter of exercising discipline and putting into practice a kind of buying on the way down and selling on the way up and attempting a sort of incrementalism (rather than all or nothing) thinking, and then the not so easy gets trained into you through practice and discipline.. that has been my outcome... and thank you bitcoin for going up in price through out this past two year period to help me out into being successful in various regards and to cause (not selling too much) to pay off really well for me.    a kind of sentimental "happy sad" but true.   

[Torque]

God that Jim Cramer is such a 2-faced weasel. I hate that guy. Such a punchable face.

Jim Cramer on Bitcoin in 2013 (never forget!):
https://www.youtube.com/watch?v=2kEySHOd4JU

Jim Cramer on Bitcoin in 2017:
https://www.youtube.com/watch?v=POh0B79untE

[gentlemand]

I agree. This was and is no ordinary FUD. Bitcoin overnight losing 60% of its hashrate (security!) to an altcoin is a serious warning. Yes it returned but it touches the very foundation of Bitcoin.

The foundation of Bitcoin is selfishness and greed. If miners find a better way to fulfil that then they're going for it.

A BTC that depends on the good will or long term vision of miners has failed.

[Torque]

I agree. This was and is no ordinary FUD. Bitcoin overnight losing 60% of its hashrate (security!) to an altcoin is a serious warning. Yes it returned but it touches the very foundation of Bitcoin.

The foundation of Bitcoin is selfishness and greed. If miners find a better way to fulfil that then they're going for it.

A BTC that depends on the good will or long term vision of miners has failed.

Agreed. "Profitable" means that someone (users, investors, traders, etc.) has to constantly be buying those coins steady off exchanges, each and every day for years, in order for the miners to make ROI and pay their bills. The BCH camp just sort of trivialized that part like it didn't matter, lol.

Miners are not going to just mine something indefinitely because some hashrate chart says that in a 12 hour window period it was "profitable" to do so. It takes a LOT more than that.

[vroom]

I agree. This was and is no ordinary FUD. Bitcoin overnight losing 60% of its hashrate (security!) to an altcoin is a serious warning. Yes it returned but it touches the very foundation of Bitcoin.

The foundation of Bitcoin is selfishness and greed. If miners find a better way to fulfil that then they're going for it.

A BTC that depends on the good will or long term vision of miners has failed.

Agreed. "Profitable" means that someone (users, investors, traders, etc.) has to constantly be buying those coins steady off exchanges, each and every day for years, in order for the miners to make ROI and pay their bills. The BCH camp just sort of trivialized that part like it didn't matter, lol.

Miners are not going to just mine something indefinitely because some hashrate chart says that in a 12 hour window period it was "profitable" to do so. It takes a LOT more than that.

IMO longterm we will see a PoW change or even a switch to PoS.

[julian071]

via Imgflip Meme Generator

Haha literally lol behind my desk at the office right now! 

[Ludwig Von]

I agree. This was and is no ordinary FUD. Bitcoin overnight losing 60% of its hashrate (security!) to an altcoin is a serious warning. Yes it returned but it touches the very foundation of Bitcoin.

The foundation of Bitcoin is selfishness and greed. If miners find a better way to fulfil that then they're going for it.

A BTC that depends on the good will or long term vision of miners has failed.

Agreed. "Profitable" means that someone (users, investors, traders, etc.) has to constantly be buying those coins steady off exchanges, each and every day for years, in order for the miners to make ROI and pay their bills. The BCH camp just sort of trivialized that part like it didn't matter, lol.

Miners are not going to just mine something indefinitely because some hashrate chart says that in a 12 hour window period it was "profitable" to do so. It takes a LOT more than that.

IMO longterm we will see a PoW change or even a switch to PoS.

Probably we saw the exact proportion of mining power in China. And greed is a universal human trait, but I can assure you that the new Sino-capitalists have cultivated it to a level even Wall Street would faint for. Which often leeds to the failure of to narrow sighted plans. In this case, I don 't think they will give up so easily. (Also something very Chinese).

[HairyMaclairy]

Where are the BCH boyz ? They seem quiet lately

CCMF !

No, wait, they got it wrong I guess ...

The whale game isn’t over yet.   BCH difficulty is currently going into the ground and the new DAA has a throttling mechanism that stops it rising quickly when a large amount of hash power is applied. 

I recommend taking defensive positions in your portfolio.  I predict more fireworks timed for the weekend. 

[bitserve]

Gentlemen, this is Carolina.

[alexeft]

Where are the BCH boyz ? They seem quiet lately

CCMF !

No, wait, they got it wrong I guess ...

The whale game isn’t over yet.   BCH difficulty is currently going into the ground and the new DAA has a throttling mechanism that stops it rising quickly when a large amount of hash power is applied. 

I recommend taking defensive positions in your portfolio.  I predict more fireworks timed for the weekend. 

Wow! Such smart! Very difficulty! Such scared now!   

[TwoCorn]

I appear to have mastered the art of selling low and buying high...

it´s the other way around, but i have to admit, it´s not easy !

Even though a lot of people do seem to have a kind of gambling mindset (maybe myself included).  When I talk to people in these forums and even in real life, I find that people kind of gravitate towards all or nothing thinking, but if they really focus on buying as the price goes down and then selling as the price goes up, then buying low and selling high (which is the correct way to do it) just falls into place.  

So personally, I believe it is just a matter of exercising discipline and putting into practice a kind of buying on the way down and selling on the way up and attempting a sort of incrementalism (rather than all or nothing) thinking, and then the not so easy gets trained into you through practice and discipline.. that has been my outcome... and thank you bitcoin for going up in price through out this past two year period to help me out into being successful in various regards and to cause (not selling too much) to pay off really well for me.    a kind of sentimental "happy sad" but true.   

JJG, I'd like to thank you. I've taken a small part of my BTC stash to trade regularly using more or less a version of your laddered buys and sells. It has solved some of my problems of trying to figure out how I want to trade BTC. It takes the thought out of it, and certainly the emotion, which is a killer in trading.

With all the fuddery, flamery, and FOMO in here sometimes, it's still a great place to share information and ideas and learn from each other even if we all don't agree on everything (or anything!)

[unununium]

Also, what do you call this:

It's called a freeway to 10k.

10k ? No limits my friend

[pfrtlpfmpf]

I appear to have mastered the art of selling low and buying high...

it´s the other way around, but i have to admit, it´s not easy !

Even though a lot of people do seem to have a kind of gambling mindset (maybe myself included).  When I talk to people in these forums and even in real life, I find that people kind of gravitate towards all or nothing thinking, but if they really focus on buying as the price goes down and then selling as the price goes up, then buying low and selling high (which is the correct way to do it) just falls into place.  

So personally, I believe it is just a matter of exercising discipline and putting into practice a kind of buying on the way down and selling on the way up and attempting a sort of incrementalism (rather than all or nothing) thinking, and then the not so easy gets trained into you through practice and discipline.. that has been my outcome... and thank you bitcoin for going up in price through out this past two year period to help me out into being successful in various regards and to cause (not selling too much) to pay off really well for me.    a kind of sentimental "happy sad" but true.   

Oh, fk it, i´m trying the contrarian thing, that´s all to complicated for me. Did anybody ever try that?
I´m doing just the opposite, of what everybody else is doing. And sleep at night.
Not a new idea, but maybe it works, and was just overlooked  

[Torque]

Well normally Bitcoin would look a little overbought here, and mild correction would come.

But Bitcoin is honey badger. Let's see what happens. 

[u9y42]

Off-topic, but... https://rationalwiki.org/wiki/Bitcoin

"the best part about bitcoins is that you get to watch libertarians slowly discover why financial regulations exist to begin with"
—@porn_horse

[...]



Thousands of servers churning all day long so that people can play an online currency trading simulation.

[...]

The moral of the story:
In a gold rush, the money's in selling shovels. Cash up front, please.
(Unless you're Butterfly Labs, in which case the shovel-sellers are crooks too.)

Pretty biased, but had a few good laughs.

[Searing]

I appear to have mastered the art of selling low and buying high...

it´s the other way around, but i have to admit, it´s not easy !

Even though a lot of people do seem to have a kind of gambling mindset (maybe myself included).  When I talk to people in these forums and even in real life, I find that people kind of gravitate towards all or nothing thinking, but if they really focus on buying as the price goes down and then selling as the price goes up, then buying low and selling high (which is the correct way to do it) just falls into place.  

So personally, I believe it is just a matter of exercising discipline and putting into practice a kind of buying on the way down and selling on the way up and attempting a sort of incrementalism (rather than all or nothing) thinking, and then the not so easy gets trained into you through practice and discipline.. that has been my outcome... and thank you bitcoin for going up in price through out this past two year period to help me out into being successful in various regards and to cause (not selling too much) to pay off really well for me.    a kind of sentimental "happy sad" but true.   

Oh, fk it, i´m trying the contrarian thing, that´s all to complicated for me. Did anybody ever try that?
I´m doing just the opposite, of what everybody else is doing. And sleep at night.
Not a new idea, but maybe it works, and was just overlooked  

Sorry, by failing and being a savant myself and selling low and trading (or mining with equip you paid too much for) too high....I can tell you there

is no chance....by failing you then do the opposite....but the 'crypto gods' know this and smite you..then you get tricky

and do a double fake on the next fail, again predictable because you are a savant on the wrong choice on when do buy/sell

its a gift/curse/etc

so stalemate

meanwhile, the crypto god's get much mirth out of your antics.

[Torque]

In a gold rush, the money's in selling shovels. Cash up front, please.

Shovel - 1860: $0.96 c
Shovel - 2017: $6.00


Gold - 1860: $20.67/oz.
Gold - 2017: $1280/oz.

I don't think shovels were the better long term investment though.  

[alexeft]

In a gold rush, the money's in selling shovels. Cash up front, please.

Shovel - 1860: $0.96 c
Shovel - 2017: $6.00


Gold - 1860: $20.67/oz.
Gold - 2017: $1280/oz.

I don't think shovels were the better long term investment though.  

Good answer!

[Wekkel]

But shovels were in major demand while Gold was not necessarily found.

[Dabs]

... being a savant myself ...

You are?

Once upon a time, I bought some LTC at $20, then sold it the next day at $40. It was luck and timing. (Well maybe I paid a little attention back then.)