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

[doc12]

https://www.nytimes.com/2018/01/22/opinion/irs-bitcoin-fear.html

The prospect of substantial government revenue losses is not just a problem for the United States government; it is also a problem for the cryptocurrencies themselves. For cryptocurrencies to survive long enough to be an effective means of performing everyday transactions, the cryptocurrency community will need to find a way to prevent tax evasion. This will involve a tricky balancing act, preserving anonymity while providing the I.R.S. with sufficient information to prevent tax evasion.

More generally, cracking down on tax evasion will require that the community learn to trust government. Since this goes against the very ethos of the cryptocurrency movement, it poses the most difficult — but no less necessary — challenge.

ha haha hahahahaHAHAHAHAHAHAHAHAHAHBWAHAHAHAHAHAHAHAHAHAHAHAHA

Muahahahahahaha  trust haha goverment haha

[jojo69]

7700?

he talking in rubles or something?

[milkshock100]

7700?

he talking in rubles or something?

I have to say he’s starting to concern me.

The bottom keeps falling with his predictions. First 11k, then 10k, then 9k and now 8k....

[serveria.com]

7700?

he talking in rubles or something?

I have to say he’s starting to concern me.

The bottom keeps falling with his predictions. First 11k, then 10k, then 9k and now 8k....

No I guess he meant $7700 was a bottom some time ago (before the big year-end pump).

I guess he mentioned several times it won't drop below 9k

[somac.]

7700?

he talking in rubles or something?

I have to say he’s starting to concern me.

The bottom keeps falling with his predictions. First 11k, then 10k, then 9k and now 8k....

for further insights, see this blog https://btctrading.wordpress.com/2018/01/18/long-term-update-bottom-done/

Apparently, this guy and masterluc kinda follow one another. I'm not too sure what Masterluc's 7700 is in regards to, but, Enky says that if it were to reach this level, it would become a bear market.

[jojo69]

yeah, Enky said bottom done on the 21st

Luc refers to a previous 7700 bottom that I can't find on the chart

The guy with the daily gain random walks, which is basically "it went up before so it will go up again"

that other motherfucker has an "alternate reality indicator"

I'm as bullish as the next guy, but I can also tell when I'm getting smoke blown up my ass

no cognitive biases in here...no sireee

[somac.]

yeah, Enky said bottom done on the 21st

Luc refers to a previous 7700 bottom that I can't find on the chart

The guy with the daily gain random walks, which is basically "it went up before so it will go up again"

that other motherfucker has an "alternate reality indicator"

I'm as bullish as the next guy, but I can also tell when I'm getting smoke blown up my ass

no cognitive biases in here...no sireee

possible translation issues with masterluc as well of course. 7700 could be referring to an indicator rather than support or resistance. I have no idea though.

[somac.]

yeah, Enky said bottom done on the 21st

Luc refers to a previous 7700 bottom that I can't find on the chart

The guy with the daily gain random walks, which is basically "it went up before so it will go up again"

that other motherfucker has an "alternate reality indicator"

I'm as bullish as the next guy, but I can also tell when I'm getting smoke blown up my ass

no cognitive biases in here...no sireee

Actually taking another look at the charts 7700 is a former top that then turned into a support level. It is definitely a valid level of support.

[jojo69]

possible translation issues with masterluc as well of course. 7700 could be referring to an indicator rather than support or resistance. I have no idea though.

Yeah, I get that.  I'm not bagging on Luc specifically, guy has made some bomber calls for sure.

It just seems like a lot of this bull talk is getting more strained and vacuous, and I think it is time to just stop it. 

The problem here is that all us seasoned old hodlers are entirely too sophisticated with our double double double psychology.  We all KNOW how this market cycle works...which means that it DOESN'T WORK.

I don't want any more bull talk up in here, I want straight up suicidal DESPONDENCY god dammit.

C A P I T U L A T I O N MOTHERFUCKERS ... DO YOU SPEAK IT?

[TERA2]

oh no what if the bear trolls are right??

[serveria.com]

oh no what if the bear trolls are right??

let's HODL and see... 

[Starving_Marvin]

The black-eyed snakes: Rise Up!
https://www.youtube.com/watch?v=D3qopVAZ_S8

[realr0ach]

but, Enky says that if it were to reach this level, it would become a bear market.

The charts these people are making saying it's going to infinity are completely irrelevant if cost of production doesn't increase IMO.  Like I said before, in practice bitcoin doesn't actually have a finite supply, but infinite supply when transaction fees are recirculated as block reward.  There's no reason for anyone to buy $11,000 coins when they can just mine coins for $3000 cost of production.  The fact the Chinese govt is forcing miners to turn off to lower cost of production even further would make any upside even more problematic.  

The only real way the price of bitcoin can stay absurdly higher than cost of production is if it was completely centralized and monopolized by a cartel, which it mostly is, but there's enough stray miners in the mix to steadily peck the price down closer to cost of production over time.  Another interesting way this dynamic will play out soon is when oil producers stop accepting dollars for oil and want things like gold, silver, or other physical commodities for it.  Since the ESF naked shorts metals down to cost of production in $USD terms, and the cost of production is almost entirely from oil denominated in dollars, oil de-linking from dollars (things like yuan/oil contract) sends metals cost of production astronomically higher in dollar terms.  

Peak oil (really a bad term when it should be called oil EROI collapse) and peak gold/silver have all ocurred and will be doing that regardless, though.

[Neo_Coin]

.......
Peak oil (really a bad term when it should be called oil EROI collapse) and peak gold/silver have all ocurred and will be doing that regardless, though.

[Neo_Coin]

[philip2000uk]

anyone else not received the bitcoin cash from cb?

[realr0ach]

*some chart now missing claiming bitcoin is "gold with a teleporter"*

No, bitcoin is not "gold with a teleporter" you idiots.  In terms of international trade, it's the exact same negative paradigm as US dollars.  Meaning places like China do not want to receive infinite amounts of paper US dollars in exchange for real goods.  They would also not want infinite amounts of bitcoin for real world goods.  For a trade war leading to a real war not to break out, both nations would have to send and recieve actual physical commodities or value added goods back and forth with each other.  

No foreign nation on earth is looking to corner the US dollar market, nor are they looking to corner the bitcoin market by exporting all their real world supplies while receiving imaginary bitcoins in return.  Since the only place wealth actually exists is in the physical world, they would just say "fuck you, we do not want any imaginary bitcoins.  Send us grain, oil, silver, gold, or some other shit and we refuse to accept any bitcoin".

[El duderino_]

Breaking 24777$ prediction game      FINAL LIST        


09/03/2018 Roombot


WHY SO MANY OFF YOU THINKING PRICE WILL BE ONDER 8K END THIS MONTHY??  WHILE SO MANY OFF YOU GUESS ALL THE CLOSEST POSSIBLE  DATES WHEN THIS LIST CAME OUT

Not I, however, $24,777 seems so far away....           

Haha Yeah seems very far away but youre 9/3 still in play gl

[El duderino_]

Breaking 24777$ prediction game      FINAL LIST       

[edited out]


WHY SO MANY OFF YOU THINKING PRICE WILL BE ONDER 8K END THIS MONTHY??  WHILE SO MANY OFF YOU GUESS ALL THE CLOSEST POSSIBLE  DATES WHEN THIS LIST CAME OUT

Looks like your caps lock is stuck, MICGOOSSEN.          

Of course, factors change over one month or two months time, and therefore, what is reasonable and/or probable changes, too.  There is no absolute inevitable price direction or predetermined outcome in regards to the future, and that is one of the reason that any kind of precise prediction game is going to end up being largely luck, and maybe only a sliver of skill or even the fantastical concept of prescience.

-if the capLock wasn’t on you would’t see the writing under the list ....
- and offcourse its a dumb luck game.., everybody with a little bit of good mind knows we have to buy BTC for the long term hodl and not to see the price every day and set 1000 of sell orders and buy orders and.... Just buy and When possible to afford more Just to buy and hodl as well.., maybe every week month same date Just buy no matter what the price is @ that time.... and after good learning Reading maybe buy 10 of the 100 % in other currency’s
- ONLY i have the same Sickness of checking the price constantly knowing that i’m Not Going to sell but Thats Just my problem ;-)  ( while i tel all my friends buy don’t look Just buy When possible)

O.k.  Fair enough.   I cannot argue with a strategy that seems to emphasize dollar cost averaging and HODLing; however, I do believe that there could be a certain point of time in which you also feel comfortable selling some BTC, and likely that point is going to differ for different peeps. 

In retrospect, I recall that I had established my initial accumulation goal for BTC to become about 10% of my quasi-liquid investment assets, and I believe that I became more motivated to play around and to sell some of my BTC once the value of my BTC (both through accumulation and price appreciation) crossed over 15% of the value of my quasi-liquid investments.  I did not really stop dollar cost average investing; however, I became a lot less gunshy about selling.  Further, we know that BTC prices have gone through the fucking roof - with a 78x increase, and still largely bouncing around in a 35x to 50x appreciation (using $250 as a bouncing off beginning value).   So much crazy ass BTC price appreciation can also cause greater willingness to sell some of it upon price rises.

Crazy thing with me is i never really sold anything.... Just i Tiny but ended with buying iT back ;-) even what i give away with This list thing i’m Buying back :-) peeps can be crazy in crazy times

[Meuh6879]

Just HODL ... they sell to fast.