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

[slowlyslowly]

the Sumerians invented writing. and the same folks in the same area and the same time also invented money. both inventions together made it possible for the first time in history that lots of people -that did not know each other personally- were able to cooperate to form large kingdoms, armies, large scale tax collection, religions, etc. before the Sumerians had invented money and letters/writing people only cooperated with the 100-150 people they personally knew.

that writing was essential for the development of culture is agreed upon, but money was/is of the same importance. the invention of a truly digital, decentralized global, peer2peer money that is bitcoin represents a cultural tectonic shift as heavy as the invention of printing books.

now this comes with a lot of responsibility for those who were early in recognizing this game changer. while bitcoin is a grand cultural enhancer that aims to change the world, all altcoins/ICO´s are purely made because the people behind it wanted to make a quick buck. if their creators were responsible characters they would try to get their idea into bitcoin (or btc sidechain) and not try to scam money out of newbs.

speaking of responsibility: it is a fact that bitcointalk is by far the most important bitcoin forum. and the WO-thread is the most important thread. ladies and gentlemen, you are helping to create some new crypto-gospel with every post you put in here. as long as you keep bashing shitcoins as merciless as possible and howl to the moon^TM you are right on track.

yes i follow quite a few things on various topics in various places and WO is I think unique in being such a long standing forum and with having such well thought through comments by people. And while people slag off one another at times (and its entertaining) essentially by reading it regularly you are pretty well informed about threats etc to bitcoin. It seems to have struck the right mix of expert/technical posters and those with various angles to push. It would be nice if the time we spend bashing bitcoins was treated as an expense for tax purposes as we could all then be rich even in bitcoins bear periods. But hey bitcoin will do that for us and fiat will soon be a lonely orphan we donate to occasionally out of pity

[Last of the V8s]

don't say bitcoin bear periods please

[Globb0]

I don't even have any idea what the normal forum sections are these days.

I'm 2 or 3 years + just in a few meaningful threads.

[JayJuanGee]

don't say bitcoin bear periods please

I know that frequently shills and trolls and even other kinds of wishful thinkers and propagandists call trends too early.

But trends exist, and usually they cannot be known while they are transitioning, but after the fact, we can call something a trend (or a period).   I would call 2014 and 2015 a bear trend or bear period.... but really we may not have known for sure that we were in such a period for more than 9 months or that we were out of it for a similar amount of passage of time.

Right now, we are still in a correction, and if we merely stay below $10k for 2-3 months, then I would be hard-pressed to call that a bear trend or a bear period, but instead a consolidation period in the middle of a bull market.  There are a variety of other scenarios that could cause BTC prices going lower than $6k and then staying there for a considerable amount of time, that would likely be called bear periods if they last more than a few months.

It still seems that we are quite a distance from reaching a "bear period" for our current situation, and 3 to 6 months from now, we might come to another assessment... even though it seems that there has ben some capitulation but there does remain a decent amount of optimism, in this thread, that we will be returning upwards in the next few months, which would therefore, if it happens, not arise to the level of a "bear period" in my thinking.

[JimboToronto]

Insert "Real companies don't do ICO" meme here.

Insert "Decentralized open-source P2P networks don't do ICO" meme here.

[d_eddie]

I scalped my way to a comfortably high entry short again.
Come 6k, make me some money. Come 16k, the insurance fee is already written off as a loss.
I will keep nursing it higher (and possibly still a bit smaller).
My play money grew approximately 20% in the process.

For me at least, it's a tough job. I couldn't do this everyday if my life depended on it.
I'm glad I listened to the furry elephants.

[bitserve]

I scalped my way to a comfortably high entry short again.
Come 6k, make me some money. Come 16k, the insurance fee is already written off as a loss.
I will keep nursing it higher (and possibly still a bit smaller).
My play money grew approximately 20% in the process.

For me at least, it's a tough job. I couldn't do this everyday if my life depended on it.
I'm glad I listened to the furry elephants.

Margin trading? How much leverage?

[d_eddie]

I scalped my way to a comfortably high entry short again.
Come 6k, make me some money. Come 16k, the insurance fee is already written off as a loss.
I will keep nursing it higher (and possibly still a bit smaller).
My play money grew approximately 20% in the process.

For me at least, it's a tough job. I couldn't do this everyday if my life depended on it.
I'm glad I listened to the furry elephants.

Margin trading? How much leverage?

Variable, approx range 0.5-5.
I prefer < 1 myself. For dummies.

[JayJuanGee]

I scalped my way to a comfortably high entry short again.
Come 6k, make me some money. Come 16k, the insurance fee is already written off as a loss.
I will keep nursing it higher (and possibly still a bit smaller).
My play money grew approximately 20% in the process.

For me at least, it's a tough job. I couldn't do this everyday if my life depended on it.
I'm glad I listened to the furry elephants.

Margin trading? How much leverage?

Either d_eddie is referring to margin, or alternatively, he is saying that he sold a certain decent-sized chuck of his BTC upon this recent price rise (which overall is selling on the way down.. but that is o.k. if it makes you more comfortable) in order to increase his available cash by 20% in order to prepare and insure himself for the possibility of additional down (although I find the characterization of insuring for up to be a bit confusing).

Edit:  Fuck... this just ain't my day... d_eddie beat me too it and pretty much blew my whole speculation thesis out of the water by admitting that he is employing margin trading.

[bitChipper]

I scalped my way to a comfortably high entry short again.
Come 6k, make me some money. Come 16k, the insurance fee is already written off as a loss.
I will keep nursing it higher (and possibly still a bit smaller).
My play money grew approximately 20% in the process.

For me at least, it's a tough job. I couldn't do this everyday if my life depended on it.
I'm glad I listened to the furry elephants.

Margin trading? How much leverage?

Variable, approx range 0.5-5.
I prefer < 1 myself. For dummies.

Why do you call this scalping, are you taking a bunch of different positions at the same time on margin?

To me the term scalping means buying selling for really small gains like 1-5%....i could be wrong though

[Neo_Coin]

[d_eddie]

I scalped my way to a comfortably high entry short again.
Come 6k, make me some money. Come 16k, the insurance fee is already written off as a loss.
I will keep nursing it higher (and possibly still a bit smaller).
My play money grew approximately 20% in the process.

For me at least, it's a tough job. I couldn't do this everyday if my life depended on it.
I'm glad I listened to the furry elephants.

Margin trading? How much leverage?

Either d_eddie is referring to margin, or alternatively, he is saying that he sold a certain decent-sized chuck of his BTC upon this recent price rise (which overall is selling on the way down.. but that is o.k. if it makes you more comfortable) in order to increase his available cash by 20% in order to prepare and insure himself for the possibility of additional down (although I find the characterization of insuring for up to be a bit confusing).

I am actually applying the 2J-ladder to a short, that is, I'm selling before I buy.

The 2J in the name is meant to credit the two distinguished gentlemen who recently discussed its details.  

The short isn't insured for up: it is actually an insurance for the rest of my btc in the case of downie-down. The "insurance fee" I mentioned is the price of blowing my short at the top (while selling off some actual coin on the way up, of course).

Edit:  Fuck... this just ain't my day... d_eddie beat me too it and pretty much blew my whole speculation thesis out of the water by admitting that he is employing margin trading.

Sorry for both things.

- Didn't mean to beat you to it, but you know, I can be quicker because I type less (on the average)  

- I am a newbie trader, and I usually don't trade - but this time it's different, the line of mammoths spoke to me in their chilling calling sounds. They smelled a black swan. I got scared.

[d_eddie]

Why do you call this scalping, are you taking a bunch of different positions at the same time on margin?

It's just one position, kept short at a semi-consistent size, with slowly growing value (entry point).

I am progressively making the position smaller by buying a tiny bit at a lower price, or making it larger by selling (shorting) a little bit at a higher price. Riding the waves trying to put a handful of froth in my pocket, so to say.

To me the term scalping means buying selling for really small gains like 1-5%....i could be wrong though

My understanding of the term is the same as yours. I think it fits what I'm doing.

[bitserve]

I scalped my way to a comfortably high entry short again.
Come 6k, make me some money. Come 16k, the insurance fee is already written off as a loss.
I will keep nursing it higher (and possibly still a bit smaller).
My play money grew approximately 20% in the process.

For me at least, it's a tough job. I couldn't do this everyday if my life depended on it.
I'm glad I listened to the furry elephants.

Margin trading? How much leverage?

Variable, approx range 0.5-5.
I prefer < 1 myself. For dummies.

It's reasonable. Just remember to have ample collateral to cushion any extraordinary spikes that might happen. One split second under your liquidation margin and... it's gone. I learned that lesson a couple years ago when the Bitfinex theft fucked the market. It was my fault though as an inexperienced margin trader. It took me one full year to recover that loss and, when I did, I stopped using leveraging for ever (as I promised myself to do).

[Spaceman_Spiff_Original]

I don't even have any idea what the normal forum sections are these days.

I'm 2 or 3 years + just in a few meaningful threads.

Normal forum sections, gosh, you bring back memories....

[d_eddie]

I scalped my way to a comfortably high entry short again.
Come 6k, make me some money. Come 16k, the insurance fee is already written off as a loss.
I will keep nursing it higher (and possibly still a bit smaller).
My play money grew approximately 20% in the process.

For me at least, it's a tough job. I couldn't do this everyday if my life depended on it.
I'm glad I listened to the furry elephants.

Margin trading? How much leverage?

Variable, approx range 0.5-5.
I prefer < 1 myself. For dummies.

It's reasonable. Just remember to have ample collateral to cushion any extraordinary spikes that might happen. One split second under your liquidation margin and... it's gone. I learned that lesson a couple years ago when Bitfinex fucked the market. It was my fault though as an inexperienced margin trader. It took me one full year to recover that loss and, when I did, I stopped using leveraging for ever.

Good of you to warn me, thanks.
I haven't received a real costly lesson yet, but I've heard a lot. So I'm treading very carefully.

[HairyMaclairy]

[El duderino_]

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UPDATE     AND GOOD LUCK

[RejectedBanana]

https://www.youtube.com/watch?v=YbYWhdLO43Q

For every turd of FUD out there, there's some unicorn sherbet just waiting to be dispensed...

TURD: US Congressional Hearings: "Bitcoin is a Crock for Men in Pajamas!"
SHERBERT:
 - Congress is actually talking about us? Who cares about the actual verbal diarrhea coming out their congressional gobholes... By merely talking about us, they further legitimize crypto.
 - As an aside, does Sherman really believe that men in pajamas don't also fruckin trade stocks, options, real estate, derivatives and precious metals while telling their wives they'll be millionaires one day? What an idiot.

TURD: Mt Gox Trustee market sells BTC and BCH
SHERBERT:
 - Goxees are actually receiving settlements?! Wowee. How much of that will come right back into crypto? Kobayashi may be an idiot, and a short-lived one at that, but the fact that Bitcoin has appreciated so frucking much that the trustee only needed to liquidate 15% of the recovered stash to pay back ALL the creditors' claims is a miracle in and of itself. That's not exactly how the story ended with Bernie Madoff's clients. This fact is being WAY under-reported. I can't believe the market is focused so much more on slippage instead of Bitcoin's incredible asset appreciation since then. The real idiots in this story are the judge and creditors who insisted on being paid back in fiat-equivalent at the time of Gox's collapse instead of Bitcoin, just because the price of BTC continued to collapse post-Mt Gox. Oh ye of little faith, careful what you ask for and now eat your frucking cake!
 - BTC dominance 42% and rising!
 - BCH $600 hahaha

TURD: Google and Facebook ban crypto ads
SHERBET:
 - Fruck the ICOs, Shitecoins, Exchanges, and Scammers!!!!
 - Bitcoin dominance 42% and rising!

TURD: Bitcoin searches trending down
SHERBERT:
 - Dude, who really needs to search for Bitcoin now that it's being reported daily on CNBC, NPR, WSJ, Twitter, newsfeeds, etc etc? Everyone who's anyone with any interest or the means to delve into Bitcoin at this point in the adoption curve has already done so. They don't need to search for it anymore. They're already in it. To me, the fact that search trends spike and then fall off means that action has already been taken. When was the last time you googled "how to buy Bitcoin"?

TURD: Regulation Fears Driving Bitcoin Down
SHERBERT:
 - By choosing to regulate Bitcoin, governments further recognize its legitimacy and are forced to shine light on the benefits to society. Nobody sane wants Bitcoin, fiat, gold or anything else to fund terrorism or money-laundering, and the more Bitcoin is associated with the shadowy underworld, the more negative attention and regulation it will bring upon us. Bitcoin may have started on the backs of drug-dealers, but the crypto lot must also prove it can clean up well and be presentable at their parents' holiday dinner.

TURD: Bitcoin is no longer profitable for miners
SHERBERT:
 - HAHAHAHA.

I'm sure we all have a little sherbert to dispense...

[bitserve]

Forget about the "modest" $2.5M initial amount... it's the names of the investors what really counts here:

https://twitter.com/SatoshiLite/status/974389637924798464

Synergies and all that.