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

[Paashaas]

BCash still lower than Doge/Litecoin...

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[Arriemoller]

You don't need to be a citizen, just have residence, ie a drivers licence.
I bought a gun when I stayed in Colorado in the 80s, and I'm a Swedish citizen.

Don't have to be a citizen, but have to be either a permanent resident (green card), have a hunting license valid in the residing state or be a foreign law enforcement rep of a friendly gov plus some unclear rules on visa waiver (maybe OK if you are from EU, Japan or Australia). Sweden qualifies with the waiver.
https://www.quora.com/Can-a-visitor-to-the-USA-purchase-a-gun-and-own-it-legally

Might be different now, but all you needed in Co when i was there was a drivers license.
And all you needed to get a drivers license was an address, get fingerprinted and passing the test.

What actually happened was, I went in to the gun store and asked what was needed to buy a gun, the guy said I needed to be a Colorado resident, I asked how to prove that and he then said that a Colorado drivers license would qualify as proof.
I then said, "great I have that, I'll take the Browning Hi Power with adjustable sight please", and he said "that will be 500 dollars and you need to fill out this form". I filled out the form where I promised that I was not a criminal and not mentally ill, and my race, and some other stuff. and some weeks later I came back and collected the gun (it had to be ordered).

[Arriemoller]

My guncoin TA

Is that an H&K pattern?

[jbreher]

As we know, the IRS does not claim that you owe income tax on revenue. The IRS claims you owe income tax on income. Which is revenue minus expenses.

actually the IRS has never defined anywhere in their code what exactly is income.  Moreover there is no where in their code that requires most ordinary people to pay an income tax.  But they will fine you $25000 for making any argument like this. And if you are a great communicator and share these views you may end up in prison, like Sherry Peel Jackson (Sherry Peel Jackson Tells it Like it is, IRS is Fraud - Part1) https://www.youtube.com/watch?v=ooHTg6-Y078

Yes, there are great gaping holes in the IRS's public claims. Which is why I phrased it as 'the IRS claims that you owe', rather than 'you owe'. And yes, they have barred any discussion of the actual law from any tax cases. But that is another conversation pert near as large as the entirety of crypto. Ain't nobody got time for that. At least not in this venue.

[jbreher]

...going shooting ...

Give Ted Nugent a buzz. You two would make great buddies...

You should probably leave your safe and cuddly echo chamber from time to time. You realize about 1/3 of all Americans are gun owners, right?

Salty?

Nope. Just pointing out the ridiculous folly of assuming each and every person that might enjoy shooting would share friendship with Ted Nugent.

[HairyMaclairy]

Anyone trading on robinhood? How is that working for you? Is it really zero trading fees? I can buy 1 btc at 9500 and sell at 9501 and gain 1 dollar?

I guarantee they will screw you on the spread.

[HairyMaclairy]

the BTC ballcap.

One day you and I are going to have to have a really candid talk about the implications of people coming aboard and getting rekt. I'm not proud of everything we've accomplished here.

This is true.  No easy answers here. 

[Last of the V8s]

Don't feel too guilty. Our rektonings will come.

http://trilema.com/2018/the-republic-without-mp/

[BTCMILLIONAIRE]

I feel like I'm stuck here until I get 9 more merits.

Only 8 more now for you.

Thanksssss

I blinked and you are up to 103 merits. Congratulations, in a few hours the forum engine should upgrade you to full member.

Woops. Looks like I was late to the party. Guess it'll go towards Senior Member then instead. Either way, best wishes Tera, hope you'll get well.

[Last of the V8s]

https://youtu.be/5qtcDrv_xDs
@CollinCrypto 49 minutes ago

#Bitcoin, #blockchain, and ICOs on Last Week Tonight. Very broad but entertaining. #Craefulgang $crypto

[bitserve]

Wow... 420BTC buy wall on stamp

[Last of the V8s]

Wow... 420BTC buy wall on stamp

This too shall pass.
edit r.i.p.

[bitserve]

Someone was in a hurry to buy BTC as soon as his monday morning $4 million deposit was credited on stamp?

Awesome. One day I would love to do just that... wake up and buy $4 million of something just before breakfast.

[JayJuanGee]

I'm about ready to capitulate myself. Is it best to dollars cost average your way out as well?
PS. I have no complaints, have done well.

Consider that in dollar cost averaging, you convert dollars at a steady rate into another asset.  It works, because when the asset is expensive, your dollars buy less of it, and when the asset is cheap your dollars buy more of it.  That's exactly how you want to go about buying something.
Now consider selling an asset.  If you extract dollars at a steady rate from your store of the asset, it means that when the asset is expensive, you sell less of it, and when the asset is cheap you sell more of it.  That is most definitely not how you want to do it.
Instead, to wind down your position in an asset, you should sell that asset at a steady rate; e.g., sell the same amount of bitcoin every month.
By doing it that way, you are getting more dollars when bitcoin is expensive, and less dollars when bitcoin is cheap.
Another way to think about it is this:  when you acquire an asset using dollar cost averaging, in effect you're selling dollars, and by selling those dollars at a steady rate you get the best results.  Winding down an asset's position is the mirror image that process.  You're selling bitcoin, and selling those bitcoins at a steady rate denominated in bitcoin (not dollars) gives the best results.

@birr... The first part of your discussion of dollar cost averaging lends some insight to the practice because you are indicating that there is something wrong with employing an opposite strategy... however, then your suggestion largely devolves into a kind of recommendation of a reverse dollar cost average strategy.

NO matter if you are in a BTC accumulation stage, or a maintenance stage or a liquidation stage, your strategy should be to attempt to sell BTC on the way up and to buy BTC on the way down.  Of course the more you are on one spectrum or another remains a personal choice but it also effects how you may employ the strategy.  So for example, if you are in a BTC accumulation stage you might buy more on dips and perhaps sell less on rises because your goal is accumulation, but that should not cause you to sell on the way down or buy on the way up.

Usually, if some one who is employing a sell on the way up and buy on the way down is panicking because they screwed up and did not sell enough, so the strategy probably would be to attempt to make up for the screw up by selling a decent sized chunk and then returning to the strategy of buying if the price goes down with the proceeds that were generated from the sale.

Continuing to sell on the way down or creating a plan that continues to sell on the way down is not a good strategy nor is it equally good as buying on the way down... and perhaps making and emergency sell because of a screw up and then maybe even going back to HODL, if not feeling comfortable enough to buying on the way down.

[fragout]

Someone was in a hurry to buy BTC as soon as his monday morning $4 million deposit was credited on stamp?

Awesome. One day I would love to do just that... wake up and buy $4 million of something just before breakfast.

There is also someone not keen on btc going above $10k. Keeps topping up the wall.
A lot of funny business going on with the price movements over the last few days.

Korea is leading the charge again $10K +

[bitserve]

Someone was in a hurry to buy BTC as soon as his monday morning $4 million deposit was credited on stamp?

Awesome. One day I would love to do just that... wake up and buy $4 million of something just before breakfast.

There is also someone not keen on btc going above $10k. Keeps topping up the wall.
A lot of funny business going on with the price movements over the last few days.

Maybe because they know that once BTC breaks again above $10K many shorters will close their position and also liquidations will begin.

[Last of the V8s]

easy peezy toddler seizy

[HairyMaclairy]

Don't feel too guilty. Our rektonings will come.

http://trilema.com/2018/the-republic-without-mp/

Hah.  Is the author having a seizure?  I couldn’t get past the second paragraph.  


Was Occupy Wall Street a left wing thing?  The movement wasn’t supported by Libertarians?

[TERA2]

As far as I know Occupy was an exercise program for the poor, kind of like Pokemon Go

[d_eddie]

MarketWatch hates bitcoin. Three articles today.

A trusted digital currency is coming, but it’s not bitcoin, says Starbucks’ Howard Schultz - by Victor Rektlaitis
https://www.marketwatch.com/story/a-trusted-digital-currency-is-coming-but-its-not-bitcoin-says-starbucks-howard-schultz-2018-01-29
TL;DR - Bitcoin is no good, you need trusted crypto. Brick and mortar firms (we!) can do that.

Bitcoin rises modestly after recent slump - by Victor Reklaitis
https://www.marketwatch.com/story/bitcoin-rises-modestly-after-recent-slump-2018-03-12
TL;DR - I'm the same guy. China blah blah.

Opinion: Bitcoin investors have reason to worry - by Peter Morici
https://www.marketwatch.com/story/bitcoin-investors-have-reason-to-worry-2018-03-12
TL;DR - Shell wampum blah drugs blah North Korea blah crackdown blah

The last is the worst of the bunch.