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

[BitcoinBunny]

Comfortably over $10K going into 2018 I can foresee.
$100,000 by the summer and $1,000,000 after the next halving in 2020 sounds totally unrealistic.
I think one of the problems at this point is that even those that hold lots of cash let alone those on the breadline are totally unaware you can buy a fraction of a coin.

But I'd happily be proven wrong.

[1714858356]

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[1714858356]

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[1714858356]

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[Spaceman_Spiff_Original]

Hey Jojo, were we supposed to drink a shot at every $10k tick?

Code:

10:54:10
10000
2.53340
10:54:06
10000
0.30136
10:54:00
10000
0.10672
10:53:58
10000
2.57997
10:53:57
9987.99
0.34552
10:53:56
10000
0.00336
10:53:55
9986.67
0.16004
10:53:55
10000
0.1
10:53:52
10000
0.09999
10:53:50
10000
0.10336
10:53:45
10000
0.1
10:53:43
9986.67
0.43549
10:53:43
10000
0.1
10:53:40
9986.76
0.27558
10:53:40
9995
0.12812
10:53:37
10000
0.1
10:53:36
9995
0.00662
10:53:35
10000
0.57118
10:53:31
10000
0.02
10:53:29
10000
2.51982
10:53:28
9995
0.35773
10:53:26
10000
0.02
10:53:22
10000
0.08126
10:53:18
10000
4.74368
10:53:15
10000
0.02
10:53:13
10000
0.28331
10:53:10
10000
2.54104
10:53:05
10000
16.4547
10:52:59
9990 

If so, I fear many liver and brain cells will die today....

[vroom]

Hey Jojo, were we supposed to drink a shot at every $10k tick?

Code:

10:54:10
10000
2.53340
10:54:06
10000
0.30136
10:54:00
10000
0.10672
10:53:58
10000
2.57997
10:53:57
9987.99
0.34552
10:53:56
10000
0.00336
10:53:55
9986.67
0.16004
10:53:55
10000
0.1
10:53:52
10000
0.09999
10:53:50
10000
0.10336
10:53:45
10000
0.1
10:53:43
9986.67
0.43549
10:53:43
10000
0.1
10:53:40
9986.76
0.27558
10:53:40
9995
0.12812
10:53:37
10000
0.1
10:53:36
9995
0.00662
10:53:35
10000
0.57118
10:53:31
10000
0.02
10:53:29
10000
2.51982
10:53:28
9995
0.35773
10:53:26
10000
0.02
10:53:22
10000
0.08126
10:53:18
10000
4.74368
10:53:15
10000
0.02
10:53:13
10000
0.28331
10:53:10
10000
2.54104
10:53:05
10000
16.4547
10:52:59
9990 

If so, I fear many liver and brain cells will die today....

just find a liver donor who accepts bitcoin.

[DaRude]

I'm imagining this 10 year flag where it drops back to nothing after government bans and then 10 years later it finally breaks 10,000 (or whatever ath was) again as we struggle to watch what is going on in decentralized exchanges and hand to hand transactions.

how is your dogecoin doing?

Hilarious  though very annoying that people still feed him/her

[Rosewater Foundation]

[HairyMaclairy]

Do you know why Bitcoin is doomed to reach one million per coin?
Because that way everybody will probably don't mind paying CG on a single bitcoin.

 

On a different note...
considering all the many txs I made and all the different adds I used and all the keys/wallet that I compromised (yes, that happens as well you all know that) I don't even fucking remember how many BTC I touched in my life.
How on Earth am I supposed to pay CG?

[Money out] minus [money in]

Everything else is a wash. 

[JayJuanGee]

I'm imagining this 10 year flag where it drops back to nothing after government bans and then 10 years later it finally breaks 10,000 (or whatever ath was) again as we struggle to watch what is going on in decentralized exchanges and hand to hand transactions.

Imagine that either Tera did not buy enough bitcoin or sold too many, and the bearish-bullshit talk begins to wax, wane and spew from her mouths....

Sure you have these bearish tendencies, which can be reasonable, but frequently you are spewing out scenarios that are NOT in touch with real actual happenings an real actual events in order to spread FUD.

You know JJG, the higher the price goes, the more you start acting like an a-hole.

I have heard that before.


I recall that when bitcoin was hovering in the $250 territory for almost a year.. remember 2015, and then it passed into the $700 in May/June 2016, and someone said that I was a lot nicer when my BTC portfolio was 50%-ish in the red, rather than being 50% into profits.

hahahahahaha...


What nonsense.   

Now, I am like somewhere between 12x and 15x profits, depending on how things are measured, and my asshole factor is going up... perhaps?   Perhaps it is all the blow and hookers?

Perhaps between now and the end of 2018, we are going to go into the $40k to $100k per bitcoin... . Currently, i think that those projections are a bit of a stretch, but I can imagine that my asshole factor is going to increase, even more.  I might even become intolerable, perhaps?


Hypothetically, I am having some troubles envisioning what would be the ways I am going to use my fortunes if I suffer from another 4x to 10x increase in wealth.... or maybe in the real world, I am going to make some mistakes, and I might not achieve another 4x to 10x... maybe I will get dumb, and diversify into Bcash or some other stupid thing like that?  Perhaps?  Perhaps?

[CornCube]

maybe I will get dumb, and diversify into Bcash or some other stupid thing like that?  Perhaps?  Perhaps?

There’s only one counter-trend altcoin at this time in the Top 10:

https://coinmarketcap.com/charts/#dominance-percentage

Very dumb to buy it because it’s going down short-term (before it goes up, up, up again).

BitcoinSegWit is not Satoshi’s immutable protocol, i.e. it is not Bitcoin. It is a “pay to anyone” shitcoin. I smell a rat on the horizon combined with shorting on futures markets.

[Rosewater Foundation]

Another 4x or 10x. Talk about kicking the hornet's nest. The higher this thing climbs the more I want to go into hiding. Normals are losing their shit over this.

[JayJuanGee]

Comfortably over $10K going into 2018 I can foresee.
$100,000 by the summer and $1,000,000 after the next halving in 2020 sounds totally unrealistic.
I think one of the problems at this point is that even those that hold lots of cash let alone those on the breadline are totally unaware you can buy a fraction of a coin.

But I'd happily be proven wrong.

I had someone asking me about bitcoin for the past few months, and coincidentally, I was looking at my computer when the price was about to cross $10k on bitstamp.  I told her that I could not talk now, because I wanted to get a picture of my computer screen when the price crosses $10k, and I said that once it crosses $10k it is likely to go up quite a bit from there in a short period of time.  So she kind of waited for me watching the screen and I was going to take a picture, and she kept telling me, while we were waiting, that I should have told her more about bitcoin and that I should have taught her how to buy bitcoin and that she wished that she owned some bitcoin....  The more she talked about bitcoin, the more I began to realize that after several months of watching me watch bitcoin, or at least have the screen on in the background, that she thought that she had to buy in increments of a whole bitcoin... crazy but true... crazy, but there are a lot of folks who erroneously think that bitcoins are bought in whole increments.

Anyhow, Yes, we know a lot of people like this, they are all talk and no do... Several days later, and she still has not bought any bitcoin or asked me further about how to train her in the practice of buying some bitcoins (not necessarily whole increments).

[strawbs]

Do you know why Bitcoin is doomed to reach one million per coin?
Because that way everybody will probably don't mind paying CG on a single bitcoin.

 

On a different note...
considering all the many txs I made and all the different adds I used and all the keys/wallet that I compromised (yes, that happens as well you all know that) I don't even fucking remember how many BTC I touched in my life.
How on Earth am I supposed to pay CG?

[Money out] minus [money in]

Everything else is a wash. 

That's my thinking too.  There's no way I could provide details of every transaction I've made over the last 4 years, especially bct to alts to btc, etc.  And also considering that there's now no way for me to access any records from Mt.Gox.  So presumably the tax authorities (HMRC in UK) would reasonably accept the "$out minus $in" figure. That's my hope anyway.  But still, paying Capital Gains Tax on crypto profits would grate, a lot.

Just wondering if anyone here has yet made a CGT return to HMRC and how it was dealt with? They're massively under-staffed (up to 45 minute waiting time when phoning them, if you manage to get through at all).  My guess is that they would accept pretty much whatever method you decide to use (i.e. a "$out minus $in" figure) as long as it seems justifiable, and they would only rarely investigate further to see if your figures are accurate, in the way that usually just accept at face value most people's regular self-assessed tax returns. I doubt they have the resources to do anything further.

Has anyone here actually dealt with HMRC yet regarding btc profits? It would be interesting to hear about your experiences.

[JayJuanGee]

maybe I will get dumb, and diversify into Bcash or some other stupid thing like that?  Perhaps?  Perhaps?

There’s only one counter-trend altcoin at this time in the Top 10:

https://coinmarketcap.com/charts/#dominance-percentage

Very dumb to buy it because it’s going down short-term (before it goes up, up, up again).

BitcoinSegWit is not Satoshi’s immutable protocol, i.e. it is not Bitcoin. It is a “pay to anyone” shitcoin. I smell a rat on the horizon combined with shorting on futures markets.

And, someone pays you to spout this nonsense?

Currently, there is only one bitcoin, and there are others denigrating it and trying to proclaim that they are the real bitcoin and/or that there are various deficiencies in the real bitcoin or trying to cause some kind of equivalency by changing bitcoin's name to some thing like "bitcoin core" or "bitcoin segwit" or some other trolling and distracting nonsense.. but in the end, there is only one bitcoin and pretty much this has been a great year between August 2017 and November 2017 that there were two pretty decent sized fork challenges, and bitcoin showed its resilience to both of those attacks.. and hopefully, our lovely dovely bitcoin is stronger from such challenges, and the market does seem to recognize some of this bitcoin strength and resilience in the current price and likely in our continuing onward and upwards price trending... thank you very much for the smart money to generally appreciate the value of true decentralized bitcoin.. the one and only. (so far).. 

[strawbs]

Comfortably over $10K going into 2018 I can foresee.
$100,000 by the summer and $1,000,000 after the next halving in 2020 sounds totally unrealistic.
I think one of the problems at this point is that even those that hold lots of cash let alone those on the breadline are totally unaware you can buy a fraction of a coin.

But I'd happily be proven wrong.

she thought that she had to buy in increments of a whole bitcoin

That's really common - at least two of my friends have said to me "oh, I can't afford to buy btc now because it's over $10,000"

[orpington]

maybe I will get dumb, and diversify into Bcash or some other stupid thing like that?  Perhaps?  Perhaps?

There’s only one counter-trend altcoin at this time in the Top 10:

https://coinmarketcap.com/charts/#dominance-percentage

Very dumb to buy it because it’s going down short-term (before it goes up, up, up again).

BitcoinSegWit is not Satoshi’s immutable protocol, i.e. it is not Bitcoin. It is a “pay to anyone” shitcoin. I smell a rat on the horizon combined with shorting on futures markets.

I wish you were a mutable shitcoin.

[600watt]

I'm imagining this 10 year flag where it drops back to nothing after government bans and then 10 years later it finally breaks 10,000 (or whatever ath was) again as we struggle to watch what is going on in decentralized exchanges and hand to hand transactions.

other than straightforward cloning of humans (which is not a standalone scientific breakthrough, but an nightmarish possibility that arose out of genetic engineering progress) and some crazy mass destruction weapons) I cannot think of ANY technology that has been banned by governments worldwide.

can you name me a new technology that has been banned? why on earth would bitcoin be the first one? digitization of our entire culture is inevitable. digitization is in the sam e league as industrialization. it cannot be stopped.  

[JayJuanGee]

Another 4x or 10x. Talk about kicking the hornet's nest. The higher this thing climbs the more I want to go into hiding. Normals are losing their shit over this.

WAT?


WAT?


Don't get scared RF.....


Do you believe that currently, bitcoin is at some point of instability?

We had a very healthy 13% immediate bitcoin bounce upwards after breaching $10k followed by almost an immediately 23% price correction and then bouncing back and forth in the middle of those extremes for the past couple of days...

Seems like the snake is coiling, no?

Yeah, maybe we are not going to get another 4x out of this bad boy, but still we could more easily get another 50% to 150% upwards, no?  After having our immediate 23% correction after breaking through $10k, I think that is a strong and bullish sign, and I think that we have some more upwards to go... We still need to experience a blow off top, and I don't think that breaking through $10k has been a sufficient nor adequate blow-off top in bitcoinlandia, especially given a lot of the money that has flowed into the crypto space and some of that money is going to fuel some more bitcoin price rising in order that we can see a blow-off top, and yeah some of the 4x to 10x predictions do seem to be a bit much and reaching for the stars might not be a bad idea; however, conservatively speaking, can't you see at least another 50% to 150% blow off top based on current circumstances and the fact that on an ongoing basis, we continue to get bitcoin price corrections on this upwards price slope of the past 3.5 months (since August or so)?

[Meuh6879]

Source : http://www.zerohedge.com/news/2017-11-30/time-different-part-i-what-bitcoin-isnt

“Backed by nothing”

This is the goto criticism for people who simply don’t understand that crypto-currencies are based upon mathematics, zero-trust, open-source and consensus. They think that bitcoins can simply be created “at will” and are backed by nothing.

They also say that as if the world’s reserve currency, the US dollar, isn’t, literally, “backed by nothing” and hasn’t been since 1972; and as if it can’t be created at will, which it most certainly has, with a vengeance.

Indeed as Galbraith continued in our earlier passage:

    “This was true in one of the earliest seeming marvels: when banks discovered that they could print bank notes and issue them to borrowers in excess of the hard-money deposits in the banks’ strong rooms”.

All fiat currencies today really are backed by nothing and can be created at will (that’s what the word “fiat” actually means), and perhaps unbeknownst to many we are right now in a protracted, global currency war. Every nation is “racing to the bottom”, trying to devalue their currency against their trading partners so they can:

-    give their exporters a competitive advantage

-    pull stronger currencies in to make money on the exchange, and

-    service their ever expanding debts back with devalued, cheaper currency

This is why everybody’s purchasing power is going down despite tenured academics and central bankers incessantly complaining about “low inflation” and political spokesmodels always talking up a “strong currency”.

In Bitcoin or other true crypto-currencies, early holders are not receiving bitcoin from later entrants.

In fact, quite the opposite is happening.

Later entrants must entice earlier ones to part with their bitcoin. Since Bitcoin cannot be created at will, it must be mined at a rate that drops over time (this year approximately 640K new bitcoin will be mined, about 3.8% of the total supply).

Demand for bitcoin is simply outstripping supply of new coins being mined (for reasons we will discuss in Part II).

If said price action rises dramatically (like for example, Bitcoin suddenly became the highest performing asset class in the world) then a feedback loop would occur.

Ever higher prices would be required to induce earlier holders to sell.

Tulipmania

What is described above is the same dynamic that occurs in any “bull market”, as buying begets more buying, and “fear of missing out” kicks in. It is said one of the most accurate gauges of “happiness” correlates closely to how much wealth one has when compared to one’s brother-in-law. Alex J Pollock describes it in “Boom and Bust: Financial Cycles and Human Prosperity”, as “The disturbing experience of watching one’s friends get rich”.




Finally I found Anne Goldgar’s Tulipmania: Money, Honor and Knowledge in the Dutch Golden Age, which is the most in-depth investigation to the rise and subsequent fall of Tulipmania extant today. In it we learn about the circular references that went on to inform our present time about Tulipmania:

    “If we trace these stories back through the centuries, we find how weak their foundations actually are. In fact, they are based on one or two contemporary pieces of propaganda and a prodigious amount of plagiarism. From there we have our modern story of tulipmania.”

[Rosewater Foundation]

@Jay
I'm just speaking personally. This kind of money makes me feel like a target. I'd prefer to get rich under the radar if possible.

[600watt]

Comfortably over $10K going into 2018 I can foresee.
$100,000 by the summer and $1,000,000 after the next halving in 2020 sounds totally unrealistic.
I think one of the problems at this point is that even those that hold lots of cash let alone those on the breadline are totally unaware you can buy a fraction of a coin.

But I'd happily be proven wrong.

she thought that she had to buy in increments of a whole bitcoin

That's really common - at least two of my friends have said to me "oh, I can't afford to buy btc now because it's over $10,000"

imho, the fact that the bitcoin community failed to carry on with mBTC (1/1000 btc) a few years ago is one of the main reasons we see thousands of alts, hundreds of ICO and all this forking sheit.

yesterday evening some employees of mine and their friends invited me to answer their cryptocurrency questions.  they have been watching me advocating bitcoin for several years, but now they got interested.

everyone was asking me what alt they should invest in. the. whole. evening.  I told them that I would only invest in btc. they ALL said "but it is way too expensive" - and they know they can buy fractions. it is a psychological trap. and the bitcoin community as whole did not see that.

when I was through with a lengthy and detailed description of the reasons why bitcoin is superior and the safest way to go in crypto, they asked me again: really now, what altcoin do you think has the most potential?  

[Rosewater Foundation]

^I disagree. The higher the price the more people want to buy it. Humans are right confusing.