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

[pacman7331]

Neo is down for maintenance again:   https://steemit.com/cryptocurrency/@kjnk/neo-s-blockchain-goes-under-maintenance-as-blockchain-stalls-again

NEO... I believe!

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[BTCMILLIONAIRE]

No way could I ever work for somebody else now, been out on my own even without bitcoin for 10 years. I remember being 19/20 & being told to put the kettle on for an office full of people.
I remember being 5/10 minutes late for work a bunch of times & panicking about it.
 
I’d ratter die than go back to that kind of humiliating existence.

Me too. Been job-free for 42 years now.

I guess I'm lucky because my father was self-employed for as long as I can remember and so I wasn't brainwashed with the idea of a "regular job" since early childhood.
_____

When I was in kindergarten I was shown watercress growing wild in a creek in what is now a drained park in Toronto. I filled a 4 quart basket with cress and stopped by at the grocery store on my way home. I asked the owner if he wanted to sell it in his store.

He tasted it, remarked on its freshness (I just picked it!), divided it into 4 bunches held together with rubber bands, and said he'd give me 5 cents for 2 bunches. I got my first arithmetic lesson when he took 2 bunches and gave me a nickel and then repeated it, telling me I had 10 cents. I promptly spent half of it on candy, 3 for a penny of this, 4 for a penny of that.

When I got home, my parents were concerned about where I got the remaining nickel and the candy. When I told them, they were so proud of me, bringing home the bacon so to speak.

Later that day I went back for more candy and learned 2 more lessons. First I learned the hard way about spending your earnings too soon. Then when I saw only 3 bunches remaining with a price of 10 cents per bunch, I realized he had paid for the whole lot with just one sale and had 3 more to go.

That was my biggest lesson... retail markup and profit.

I originally wanted to go the traditional "job" route to make absolutely sure that I'll have enough money to be financially independent for the rest of my life before I hit 40 (by getting a very high paying Math/Tech related job and investing virtually everything), since I've figured out quite early in school that I just couldn't deal with a predefined lifestyle.

Somehow managed to get there way before that and the only jobs I've ever had were as a research assistant at university, which were less of a job and more of an interesting learning experience to me. Going full capitalist in online games as a kid helped, taught me a lot of valuable skills and made me some decent starter money on top of future scholarships.

Then Bitcorns came around and just obliterated the need of a job under a massive snowball.

It's quite interesting how quickly things went from "what the fuck am I doing I'm about to lose everything" to shrugging off massive drops in net worth.
Glad I took the plunge, not sure if I would have if I didn't know that I could easily score a >200k p.a. job though, despite having analyzed financial markets very carefully and concluding quite early on that Bitcorn is the holy grail of finance.
It's also quite interesting how the fear of making a wrong move diminishes as the portfolio grows, although I wonder if that's due to confidence from past successes or just because of having the money to burn.

[BTCMILLIONAIRE]

The fact that bitcoin is sound money trumps everything; adoption, payment networks, umwelts, all these buzzwords newcomers bandy.
This shit is real money and it will absorb all the capital there is, with or without us.

This illustrates how sound bitcoin is as money.




It was posted earlier on, but the more people see it the better.

The bottom right corner should have a lambo with a shopping cart inside of it for accuracy.

[Lopumbo]

Then Bitcorns came around and just obliterated the need of a job under a massive snowball.

  look at you - here i fixed it for you "snowball-system"

so basically you're just a useless member of society and hoping to sell your bunch of 0 and 1s for more than what you've paid for

[HairyMaclairy]

You must be one of those passive agressive bcash lol types. /ignored

[conspirosphere.tk]

so basically you're just a useless member of society and hoping to sell your bunch of 0 and 1s for more than what you've paid for

Fuck society. I did not came in the world to serve others. And yes, bitcoin is about money.

Having said that, this may be interesting:

‘Bitcoin Misery Index’ - Trading Tool from Wall Street Analyst. When the bitcoin misery index is at ‘misery’ (below 27), bitcoin sees the best 12-month performance. The Bitcoin index is currently 18.8



https://captainaltcoin.com/wall-street-analyst-develops-bitcoin-misery-index-as-a-trading-tool-for-investors/

[600watt]

We basically have the rest of 2018 to play around in this price zone. Nothing is lost yet; from my perspective it is a waiting game while all clever boys and girls continue to build the crypto infrastructure.

Well maybe Ethereum or Ripple will overtake BTC then...

lol, outright scams ain´t gonna overtake btc. what is the real life use case for the ripple scam coin? when ripple labs rolled out a new mobile service for Santander bank customers, they did not even use their own coin, they integrated Apple Pay..  .  what is the real life use case for eth? smart contracts? scientists looked at the existing smart contracts and found just a few bugs... 34 000 bugs.... LOL.


https://www.coindesk.com/santander-uk-ripple-payment-app/
https://www.cryptoground.com/article/over-34000-ethereum-smart-contracts-vulnerable

[Lopumbo]

Fuck society. I did not came in the world to serve others. And yes, bitcoin is about money.

someone has to work for your food and shelter, well but maybe you're lucky and find some idiot to do it for you
ah and i forgot, in the end, whenever that may be, you all want to cash out to that filthy fiat

what is the real life use case for

BTC? i thought we just HODL it to the moon without spending it?

[pacman7331]

We basically have the rest of 2018 to play around in this price zone. Nothing is lost yet; from my perspective it is a waiting game while all clever boys and girls continue to build the crypto infrastructure.

Well maybe Ethereum or Ripple will overtake BTC then...

lol, outright scams ain´t gonna overtake btc. what is the real life use case for the ripple scam coin? when ripple labs rolled out a new mobile service for Santander bank customers, they did not even use their own coin, they integrated Apple Pay..  .  what is the real life use case for eth? smart contracts? scientists looked at the existing smart contracts and found just a few bugs... 34 000 bugs.... LOL.


https://www.coindesk.com/santander-uk-ripple-payment-app/
https://www.cryptoground.com/article/over-34000-ethereum-smart-contracts-vulnerable

Decentralized apps dude. 😎

[conspirosphere.tk]

Fuck society. I did not came in the world to serve others. And yes, bitcoin is about money.

someone has to work for your food and shelter, well but maybe you're lucky and find some idiot to do it for you
ah and i forgot, in the end, whenever that may be, you all want to cash out to that filthy fiat

You don't get voluntary exchange, right? You must be one of those geniuses looking for free lunches and gibs magically produced by "society".

[greensheep]

I was playing around with graphs (recently discovered SMA lines) when I accidentally stumbled upon these graphs.
Comparing 2013, 2014 and 2018 on the weekly charts.

Comparing those it seems that compared to 2014 we did bounce of the SMA weekly like in 2013.
In 2014 we just went through it without bouncing on it.

That's why I think we are more in 2013 scenario than in a 2014 scenario.

OK past performance is not indicator for future performance and we could still slide through it,  but what do you think.

2013


2014


2018

[dmwardjr]

I was playing around with graphs (recently discovered SMA lines) when I accidentally stumbled upon these graphs.
Comparing 2013, 2014 and 2018 on the weekly charts.

Comparing those it seems that compared to 2014 we did bounce of the SMA weekly like in 2013.
In 2014 we just went through it without bouncing on it.

That's why I think we are more in 2013 scenario than in a 2014 scenario.

OK past performance is not indicator for future performance and we could still slide through it,  but what do you think.

2018 looks like it found a "base" and is moving back up.  But that's my opinion.

My thoughts are the following: We have many more ADOPTERS who have come to the space and the number of adopters increases daily. Those adopters bring "capital" with them which increases "liquidity" in the space to absorb "supply" and therefore increase "demand." So, I'm leaning more towards us currently being in a Wyckoff Accumulation Schematic and NOT DISTRIBUTION.

Just WAY TO MANY ADOPTERS now (and growing) compared to 2014.

Forcing the price down even lower brings in more competition for cheap coins IF THE INTENT of the composite group(s) is to accumulate cheap coins.

Too many people are ITCHING to buy coins "on the cheap." I really don't see the Composite Group allowing weak hands to get back in and make a profit by dropping the price much lower. Doesn't sound logical. The only logic I can see in this is IF they intend on dropping bitcoin for another crypto currency, such as BCH, ZEN, DASH, XMR or ZEC; which I find unlikely.

[BTCMILLIONAIRE]

Fuck society. I did not came in the world to serve others. And yes, bitcoin is about money.

someone has to work for your food and shelter, well but maybe you're lucky and find some idiot to do it for you
ah and i forgot, in the end, whenever that may be, you all want to cash out to that filthy fiat

what is the real life use case for

BTC? i thought we just HODL it to the moon without spending it?

It's quite interesting that you'd talk about society while completely failing to grasp the complexity of it. Also, no job doesn't imply a lack of productivity.

[Cassius]

2013 saw a bubble and fast recovery, then another bubble just a few months later. The speed of the drop and the apparent bottoming out at $6k suggests the same here - at least, it argues against 2014's slow grind.

[BTCMILLIONAIRE]

2013 saw a bubble and fast recovery, then another bubble just a few months later. The speed of the drop and the apparent bottoming out at $6k suggests the same here - at least, it argues against 2014's slow grind.

There's also the fundamentals argument. And the fact that Bitcorn usually takes a dive after rallies, and generally takes a break after the holiday season. But given that banks already conceded their impotency I don't see any problem at this point. Worst conceivable scenario at this point seems to be a slower than expected grind to 6-7 digits and a global blockchain Economy.

[JayJuanGee]

I browsed like the 1st few pages of this thread just for shits and giggles.
holy crap!! all these heros and legends I've never seen before.
small wonder.
 they are all long since millionaires by now and don't waste their time here anymore... lol

... And many of them who sold and the train left without them.

yeah them too  

I'd be surprised if one in ten of them is rich. Most probably sold too soon.

A legendary called arklan once had a shit load of Bitcoins, but lost them all before the price mooned. He sold ten to his brother for something like $100, and he had to sell some others for various reasons. He was here before this thread began.

doesn't help i sold 10 BTC to my brother back in 2013 at around 100 a pop... argh. i've got less then .04 now...

I know that stories vary, but your 1/10 seems a bit more optimistic, and, I would NOT be surprised if the number is closer to 1 in 30 who have more than 100 BTC.

[Last of the V8s]

...
I’m not convinced the coins were sold on exchange. The Mt Gox transfers are not linked to any known exchange account afaik.    I am starting to think the coins were sold OTC and this is all a bullshit FUD campaign.

Summary of Questions & Answers by the Trustee, copied from the mtgox-creditors site:
...
Q4. When and how did you sell BTC and BCH? What was the difference between the sales figures for BTC and BCH? Have you obtained any information from the U.S. Department of Justice on the disappearance of BTC[-e]?

A4. We sold them at the market price through the cryptocurrency exchange service provider from December 2017 through February 2018. The difference between the sales figures for BTC and BCH was just the timing of suspending sales; therefore, we did not have any particular intention. We have not obtained any information from the U.S. Department of Justice.
...
Q9. I have never heard about the sale of BTC and BCH. Why did you sell them when the market price of BTC crashed? Why did you sell them in such a hurry? Is selling BTC and other assets part of the “measures taken to ensure the benefits of the bankruptcy creditors” as pointed out by the examiner?

A9. From the outset of the bankruptcy proceedings, we informed all relevant parties that we were going to sell BTC and BCH at the appropriate time. We discussed this with the Tokyo District Court and decided when we should sell them. Some creditors were of the opinion that we should sell BTC and BCH soon. We believe that obtaining a lot of funds made it possible for us to take the “measures taken to ensure the benefits of the bankruptcy creditors”.

emphasis mine. This phrase muddies the waters in favour of your suggestion. Maybe it was the otc arm of an exchange. Or maybe that's a complicated way of saying 'exchange'. The transfers do seem to go to exchange-like wallets, and the dumps do seem to tally. If it was an OTC arm, why not chuck it at them all in one go?
It seems quite likely that someone out there has better information.

edited to add the relevant original text
A4   2017年12月から2018年2月にかけて、仮想通貨交換業者を通じて、時価で売却した。売却個数の差は、売却をやめたタイミングの問題であり、何らかの意図があるわけではない。米国司法省からの情報は特段得られていない。
https://mtgox-creditors.com/
@theymos exchange or otc?

[HairyMaclairy]

I had not seen that before.  Thank you.

It would be helpful to get the original Japanese and have a second opinion from a native speaker as to the meaning of the bolded words.  

Edit:  google translate gives me “through a virtual currency exchange trader” which could mean either on exchange or OTC.  

If he’s selling it OTC and the market starts to tank, then it’s absolutely prudent for him to dump the coins.  Especially at 20x the value when the bankruptcy occurred.   I know there’s bitching and moaning but an average sell price of $10,500 for that volume looks pretty good to me.  

I think he’s done well, even with the benefit of hindsight.

[Last of the V8s]

Here's the thing, where I come from it was Blindman's Bluff. We would never have played Buff. It makes no sense in my language unless I'm holding a shine rag to one of V8's personal automobiles, or his shoes.

Here's the thing, tongue or gtfo.

[Raja_MBZ]

I browsed like the 1st few pages of this thread just for shits and giggles.
holy crap!! all these heros and legends I've never seen before.
small wonder.
 they are all long since millionaires by now and don't waste their time here anymore... lol

... And many of them who sold and the train left without them.

yeah them too  

I'd be surprised if one in ten of them is rich. Most probably sold too soon.

A legendary called arklan once had a shit load of Bitcoins, but lost them all before the price mooned. He sold ten to his brother for something like $100, and he had to sell some others for various reasons. He was here before this thread began.

doesn't help i sold 10 BTC to my brother back in 2013 at around 100 a pop... argh. i've got less then .04 now...

I know that stories vary, but your 1/10 seems a bit more optimistic, and, I would NOT be surprised if the number is closer to 1 in 30 who have more than 100 BTC.

Those bought bitcoin and forgot about it became rich. While those who bought bitcoin, stuck their eyes to the value daily, didn't win anything at all (that unfortunately includes me as well).

Even your 1 in 30 seems more optimistic to me. It should be somewhat like 1 in 50.