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

[Ibian]

Know what massive wealth doesn't protect you from? Toothache.

Memento mori.

[Rosewater Foundation]

Last night I was at dinner with some friends in a cheap "hole in the wall" restaurant in Phan Rang, Vietnam with a population of around 170K. Mostly retailers, fishermen, prawn farmers, and laborers. One of us noticed on the way back from the bathroom that the local shop owner was busy buying crypto on a laptop at the back of the restaurant.  WTF!  I went to inspect and she showed me her full portfolio which included BTC, eth, ltc, btg, and some other shitcoins I didn't recognize.  She had been buying with her life savings for the past several weeks to the tune of about 3% so far. I was surprised how open she was with all her figures and financial details and how blindly the trades were being executed. I could tell she'd done almost no research on any of it which kinda made me a little sick. She wanted advice after discovering I'd been in the space awhile already.
In simple english I told her that I believed only 1 coin matters today and the rest only follow.
The frenzy is real and I'm starting to think that frenzy is all the majority know.  It was both an exciting and disturbing moment to see it happening in such a removed area of the world.

That is indeed a disturbing anecdote.

[Arriemoller]

Know what massive wealth doesn't protect you from? Toothache.

Memento mori.

Actually, it does if you spend some of it on a dentist.

[Torque]

Last night I was at dinner with some friends in a cheap "hole in the wall" restaurant in Phan Rang, Vietnam with a population of around 170K. Mostly retailers, fishermen, prawn farmers, and laborers. One of us noticed on the way back from the bathroom that the local shop owner was busy buying crypto on a laptop at the back of the restaurant.  WTF!  I went to inspect and she showed me her full portfolio which included BTC, eth, ltc, btg, and some other shitcoins I didn't recognize.  She had been buying with her life savings for the past several weeks to the tune of about 3% so far. I was surprised how open she was with all her figures and financial details and how blindly the trades were being executed. I could tell she'd done almost no research on any of it which kinda made me a little sick. She wanted advice after discovering I'd been in the space awhile already.
In simple english I told her that I believed only 1 coin matters today and the rest only follow.
The frenzy is real and I'm starting to think that frenzy is all the majority know.  It was both an exciting and disturbing moment to see it happening in such a removed area of the world.

Thanks for sharing. That's crazy.

But interestingly, it sort of mirrors the China stock market bubble their people had not too many years ago. Average retail investors with hardly any money were just buying every Chinese tech stock they could find on the market, just because they were all going up. It was a frenzy. They were indiscriminate and had done zero research on each company. Sadly, most of those people got wiped out.

[jojo69]

Know what massive wealth doesn't protect you from? Toothache.

Memento mori.

Actually, it does if you spend some of it on a dentist.

Got into the eye doc today.  Been putting it off for years.  Paid cash.  Feels good man!

Ibian, be responsible, deal with your body man, it's worth it.  You are worth it.

[Ibian]

Know what massive wealth doesn't protect you from? Toothache.

Memento mori.

Actually, it does if you spend some of it on a dentist.

Got into the eye doc today.  Been putting it off for years.  Paid cash.  Feels good man!

The ability to just... pay for almost literally anything like it was nothing is liberating. Getting a new apartment now that I'm independently wealthy (at 35! how crazy is that!). Up front payment is $5k. Don't care, it's no big deal.

I'm having a hard fucking time adjusting.

[jojo69]

I'm having a hard fucking time adjusting.

I get it, me too, but your health is THE single most precious thing you have man.

[Elwar]

Got a call this morning from the CEO of the company I retired from. He's an old friend so I told him to give me a call if he had any questions about Bitcoin.

Over and over he kept asking me what the next Bitcoin would be. I would steer him back to buying bitcoin even just for the simple fact of using it as a door into the crypto world which he then asked again, so once I'm in the space...are there any coins you've been looking at...

I pretty much told him that it was like trying to find the next Facebook. To look at the amount of development brainpower going into Bitcoin as opposed to any new coin with a dozen or so people. I told him that I have invested in some alt coins but I only invest in coins that I believe in for one reason or another, that I want to see them do well. Like with most people I just told him to go to Coinbase and buy a couple hundred dollars worth to learn the process and how to store your bitcoins, avoid Ethereum and Bitcoin cash because they're going to crash soon, and go from there.

[JayJuanGee]

Got a call this morning from the CEO of the company I retired from. He's an old friend so I told him to give me a call if he had any questions about Bitcoin.

Over and over he kept asking me what the next Bitcoin would be. I would steer him back to buying bitcoin even just for the simple fact of using it as a door into the crypto world which he then asked again, so once I'm in the space...are there any coins you've been looking at...

I pretty much told him that it was like trying to find the next Facebook. To look at the amount of development brainpower going into Bitcoin as opposed to any new coin with a dozen or so people. I told him that I have invested in some alt coins but I only invest in coins that I believe in for one reason or another, that I want to see them do well. Like with most people I just told him to go to Coinbase and buy a couple hundred dollars worth to learn the process and how to store your bitcoins, avoid Ethereum and Bitcoin cash because they're going to crash soon, and go from there.

Same here... All kinds of people coming out of the woodwork for "advices"....   Generally smart people, too....

I don't mind, but it can be a bit overwhelming and people have a lot of crazy thoughts and thoughts based on lack of understanding about some other coin being "more bang for the buck" than bitcoin... based on unit cost, and other past performance related considerations, including ingrained thinking that these various other cryptos are kind of equivalent to bitcoin and they are worthy to pump or appreciate more than bitcoin.. blah blah blah.. nonsense.

[jojo69]

same here, GF's dad, good guy, got taken to the cleaners in the .com bubble and is hot to recoup

told him the same thing, wait for a good dip on BTC, same reaction, "but what's the next big thing?"  

He is a really sweet dude, has enough imagination to enjoy our good fortune vicariously, called the other day to congratulate us on a certain milestone 

[realr0ach]

Goyim of the world unite!

All politicians are generally garbage, but it will soon be time to watch the yids flip their lids if they fail to derail the Roy Moore campaign.

[sirazimuth]

I seriously thought that 15% dip after 1000% gain this year was the end of cryptography.

I burned all of my private keys, opened up my server to telnet instead of ssh, stopped using a website if it was https instead of http and moved to a wooden house in middle of nowhere.

Got a call this morning from the CEO of the company I retired from. He's an old friend so I told him to give me a call if he had any questions about Bitcoin.

Well glad to know that wooden house in middle of nowhere has a phone anyway.... 

[Ibian]

Got a call this morning from the CEO of the company I retired from. He's an old friend so I told him to give me a call if he had any questions about Bitcoin.

Over and over he kept asking me what the next Bitcoin would be. I would steer him back to buying bitcoin even just for the simple fact of using it as a door into the crypto world which he then asked again, so once I'm in the space...are there any coins you've been looking at...

I pretty much told him that it was like trying to find the next Facebook. To look at the amount of development brainpower going into Bitcoin as opposed to any new coin with a dozen or so people. I told him that I have invested in some alt coins but I only invest in coins that I believe in for one reason or another, that I want to see them do well. Like with most people I just told him to go to Coinbase and buy a couple hundred dollars worth to learn the process and how to store your bitcoins, avoid Ethereum and Bitcoin cash because they're going to crash soon, and go from there.

Decentralization and creator anonymity is basically what makes bitcoin valuable. But trying to get peoples minds around that...

People have to value freedom in order to understand why the above is valuable. And a lot of people simply don't.

[realr0ach]

Decentralization and creator anonymity is basically what makes bitcoin valuable. But trying to get peoples minds around that...

It looks like you failed the "get your mind around it" test since you can't figure out mining is designed to centralize.  The word "proof of", whether it's work or stake, or proof of anything else just means proof of monopoly, but craptocurrency pump and dump shills are unable to stop lying about it.

[gentlemand]

Decentralization and creator anonymity is basically what makes bitcoin valuable. But trying to get peoples minds around that...

People have to value freedom in order to understand why the above is valuable. And a lot of people simply don't.

Among many other things, the factor I hardly ever see mentioned though maybe it's too obvious, is that it came from literally nothing with no nefarious or greedy intentions.

There was no premine, no ICO, no hidden stashes, no back doors, no hype, no prior knowledge of what it would become, no real strategy other than sending it out into the world and seeing what happened.

It's easy to forget that but it can never, ever be repeated. The birth of coins such as LTC are similar in their lack of disgustingness but that absolute purity can't happen again.

[realr0ach]

The birth of coins such as LTC are similar in their lack of disgustingness but that absolute purity can't happen again.

This is actually completely wrong as most BTC old-timers claim LTC was some type of Artforz hidden miner scam.

[JimboToronto]

Know what massive wealth doesn't protect you from? Toothache.

Memento mori.

Actually, it does if you spend some of it on a dentist.

Got into the eye doc today.  Been putting it off for years.  Paid cash.  Feels good man!

The ability to just... pay for almost literally anything like it was nothing is liberating. Getting a new apartment now that I'm independently wealthy (at 35! how crazy is that!). Up front payment is $5k. Don't care, it's no big deal.

I'm having a hard fucking time adjusting.

I'm planning on doing a little dental tourism myself in January. I've found a very highly recommended high-tech clinic in Mexico, near where I'm planning on buying some property with Bitcoin.

When I go for my assessment/estimate, I'll see if they'll accept payment in Bitcoin as well. I can get full implants for a small fraction of what I'd pay in Toronto.  

With what I earned in Bitcoin this year, I think I owe myself a full set of Hollywood teeth. If I ever need repairs, I'll be able to stay at my own tropical retreat.

Yes, financial independence takes some getting used to and I'm trying to avoid becoming extravagant but health is perhaps our greatest treasure, with only friendship even close.

The secret is to be frugal in one's extravagance.

[Icygreen]

I'm pretty sure Jeff's OD'ed on the red pills. He's been shilling for gold the last few weeks encouraging us to use BTC profits and now this. https://steemit.com/bitcoin/@dollarvigilante/the-globalist-plan-to-blame-bitcoin-for-biblical-level-collapse-in-2018
And I like contemplating conspiracy but this might be over the top even for me (and torque?) 

[vapourminer]

Know what massive wealth doesn't protect you from? Toothache.

Memento mori.

just buy a dental practice and the staff to keep it open for you 24/7.

[bitserve]

Got a call this morning from the CEO of the company I retired from. He's an old friend so I told him to give me a call if he had any questions about Bitcoin.

Over and over he kept asking me what the next Bitcoin would be. I would steer him back to buying bitcoin even just for the simple fact of using it as a door into the crypto world which he then asked again, so once I'm in the space...are there any coins you've been looking at...

I pretty much told him that it was like trying to find the next Facebook. To look at the amount of development brainpower going into Bitcoin as opposed to any new coin with a dozen or so people. I told him that I have invested in some alt coins but I only invest in coins that I believe in for one reason or another, that I want to see them do well. Like with most people I just told him to go to Coinbase and buy a couple hundred dollars worth to learn the process and how to store your bitcoins, avoid Ethereum and Bitcoin cash because they're going to crash soon, and go from there.

Yes, that's not an exception but the norm now. They are all asking for advice on what new coins would be good investing. As always the keep thinking Bitcoin is "too expensive" now (no matter what the price level is at that moment). They all want to invest in a coin that is "so cheap now as Bitcoin was" and that could rise "as much as Bitcoin did". WTF?

I even received a call from an old friend that started in Bitcoin at the same time as me, early 2013 just before the bubble. He had bought 20 Bitcoins in a single purchase of around 1000€, but sold it in like a month or so after -at almost no profit- and never looked back.

Now he asks me for good coins worth investing. Funny thing is that when we started he was saying things like "one single Bitcoin could be worth nothing or a million in the future"... yet he sold a month after? I was more conservative in my expectations and here I am, not rich... but doing well.

There's also another one I introduced to crypto one month ago. Contrary to my advice he started with like 15K and bet it all on that Iota shitcoin. No matter I told him I would not touch that shit even with a mile long pole and that it was a broken coin that doesn't even work nor delivers what is suppossed to do in its whitepaper (where's that microcontrollers code?).

A few days later he was sitting on more than 50K because that shitcoin pumped for no apparent reason. Glad for him but proof of the madness it is happening now in crypto space. Now he only wants to keep doing alts. I suggested Litecoin and Monero. At least he followed that advice and also scored on it big time. Double combo it seems... without having any fucking idea of what he's doing (as he recognizes himself).

To add more madness to this situation.... he still keeps everything on BITFINEX. I have informed him the risks of that but, while he has already bought a hardware wallet, he is not using it yet.

I think this is pretty much what is happening right now in crypto space. Well, we wanted mainstream adoption and this is what we get and how it looks. Not sure if good or bad... but that's how it looks like.