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

[bitserve]

wow i think 43% bitcoin dominance is way too much

correction will come soon

I think it is not enough. Correction will come, but in Bitcoins favor.

for an coin that can not be used as a currency i highly doubt that

*sigh*  You don't really have very much bitcoin do you?

Most probably his net amount of BTC is *negative*. Simply not having any Bitcoin would not be enough of a reason to be here spreading ridiculous FUD with no vested interest at all.

P.S.: 43.1% now.

[1714998571]

1714998571

[Anon136]

As a business owner I wouldn't price anything in bitcoin. Not yet anyway. Maybe after wider adoption it's volatility calms down. But you can still price your products in ounces of gold or silver and take bitcoin as payment. So that whole "bitcoin cant be a currency" thing is dumb. It may or may not ever be a good money. But it makes a fine currency even right now.

[PoolMinor]

@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.

What's wrong with my post?  I am merely describing a practice, and my disagreement that a kind of incremental selling on the way down that has been described as dollar cost averaging is a good plan.. In essence, I think that largely it is stupid because it seems ill thought out because it contradicts the more important strategy, which should be buying on the way down (not selling on the way down).

Geez louise....I cannot tell if you are trolling or not?
It should have been obvious that I am agreeing with you here. I merited the post, then I post a picture illustrating that I agree with it.

I realize we have been at odds in the past but it should serve as a breath of fresh air for you that I find your opinion to be valid. Your strategy is very similar to mine, very simply, buy on the way down and sell on the way up.

-PoolMinor

[BTCMILLIONAIRE]

As a business owner I wouldn't price anything in bitcoin. Not yet anyway. Maybe after wider adoption it's volatility calms down. But you can still price your products in ounces of gold or silver and take bitcoin as payment. So that whole "bitcoin cant be a currency" thing is dumb. It may or may not ever be a good money. But it makes a fine currency even right now.

It's far more convenient than the payment methods Europe generally uses right now, as credit cards aren't really that much of a thing there. Once the likes of Lightning Network and mass adoption in retail take place I won't really see myself using any other currency anymore unless I had to.

[bones261]

Just giving a 2x leverage short a try. We should be getting big green dildos, shortly.

Yea you're screwed buddy. I just put up a sell order. That means the price is about to moon.

I'm too much of a chicken shit for this. Closed my position. Maybe another day.

[Searing]

Just giving a 2x leverage short a try. We should be getting big green dildos, shortly.

Yea you're screwed buddy. I just put up a sell order. That means the price is about to moon.

'

yeah..I'm gonna have to sell on the low here also....scrypt-pow mining is in a downtrend...I have 13K of income tax to cover with tax man from last year

that I can't write off in any manner ..including equipment (used 2018 $$$ to dump into 15K solo401k for last year (which I can buy crypto with if it stays in

that sandbox...but then again when?) so all is good on that front..but a solo401 for a self-employed business...can only be funded according to you income stream

not on dividends (ie selling crypto more than I make in the year) in 2018....so I'm gonna start hitting a wall here soon with mining puking out

So looking at things now....I too will have to sell some to stay ahead of the rock rolling down ...like you see in traders of the lost ark....the 2018 tax man must be appeased too!

I am hoping that this downturn in crypto prices and BTC etc is due to people in 1) my boat in some manner ..miners or 2) just getting ducks in a row and

have to sell for last years taxes by April 15th in the USA



anyway, the only plus side of dumping stuff to usd now for the above purposes I state...is if the price of BTC dumps further...so I kinda fell like a traitor

but no choice...

the good news is as stated already by  anon136...by us both having to sell some now.....I too always sell at the low so the BTC price should shoot up..rapidly
!

(frigging reality sucks!)

[gembitz]

Just giving a 2x leverage short a try. We should be getting big green dildos, shortly.

Yea you're screwed buddy. I just put up a sell order. That means the price is about to moon.

'

yeah..I'm gonna have to sell on the low here also....scrypt-pow mining is in a downtrend...I have 13K of income tax to cover with tax man from last year

that I can't write off in any manner ..including equipment (used 2018 $$$ to dump into 15K solo401k for last year (which I can buy crypto with if it stays in

that sandbox...but then again when?) so all is good on that front..but a solo401 for a self-employed business...can only be funded according to you income stream

not on dividends (ie selling crypto more than I make in the year)

So looking at things now....I too will have to sell some to stay ahead of the rock rolling down ...like you see in traders of the lost ark....the 2018 tax man must be appeased too!

I am hoping that this downturn in crypto prices and BTC etc is due to people in 1) my boat in some manner ..miners or 2) just getting ducks in a row and

have to sell for last years taxes by April 15th in the USA



anyway, the only plus side of dumping stuff to usd now for the above purposes I state...is if the price of BTC dumps further...so I kinda fell like a traitor

but no choice...

the good news is as stated already by  anon136...by us both having to sell some now.....I too always sell at the low so the BTC price should shoot up..rapidly
!

(frigging reality sucks!)

chinese miners shitting on the free money parade? :-D >>Antminer should hire some pumpers lol

[Cassius]

...... FUD

It correlates very well (suspiciously well in fact) with the 2013 bubble aftermath. However, the timeline is hugely accelerated, meaning we're almost at the bottom of it already. By my reckoning, it will take a maximum of two more months to bottom out, assuming it hasn't already. The massive volumes we saw on 6 Feb  at $6k will be hard to beat and I'm still in two minds whether that's likely to get broken again.

http://telegra.ph/Inferno-market-outlook-The-Double-Bubble-Analysis-03-16

wow!  LOOK AT THAT GRAPH!

The bottom is in... me thinks!

Go BITCOIN GO

I wouldn't want to say it's a done deal yet. And even if $6k was the bottom, doesn't mean we won't dip near it again.
It does look like the worst is over though, as you'd expect at this point in a correction, and the next 2 months could well see some excellent opportunities for accumulation.

If someone has better art skills and access to the data they need, I'd be interested to see how the last 4 bubbles correlate. Nov 2013 and Dec 2017's aftermaths have been incredibly similar so far. Says a lot about human psychology.

[JayJuanGee]

As a business owner I wouldn't price anything in bitcoin. Not yet anyway. Maybe after wider adoption it's volatility calms down. But you can still price your products in ounces of gold or silver and take bitcoin as payment. So that whole "bitcoin cant be a currency" thing is dumb. It may or may not ever be a good money. But it makes a fine currency even right now.

Bitcoin as a currency is way fucking more understandable than ounces of gold or ounces of silver, because no one knows what the fuck those pms are.  Part of the reason for the move to the dollar was to make matters much more easy to calculate and recognizable.

Currently on a system's-wide basis, part of the problem with bitcoin has to do with Gresham's law, but another part is not widely adopted, but bitcoin is way better than pms in terms of divisibility, recognition, trustability and portability.. and perhaps a few more things when it just comes to the currency aspect of bitcoin.  

So merely because bitcoin is not being used on a general system's wide basis (and you specifically say that you don't want to use it in your pee brain pie in the sky ideas because gold/silver are supposedly better) does not mean that bitcoin is not already a better form of currency than those two pms that you mention, so long as you find a ready, willing and able second party to do the exchange.

[Searing]

Just giving a 2x leverage short a try. We should be getting big green dildos, shortly.

Yea you're screwed buddy. I just put up a sell order. That means the price is about to moon.

'

yeah..I'm gonna have to sell on the low here also....scrypt-pow mining is in a downtrend...I have 13K of income tax to cover with tax man from last year

that I can't write off in any manner ..including equipment (used 2018 $$$ to dump into 15K solo401k for last year (which I can buy crypto with if it stays in

that sandbox...but then again when?) so all is good on that front..but a solo401 for a self-employed business...can only be funded according to you income stream

not on dividends (ie selling crypto more than I make in the year)

So looking at things now....I too will have to sell some to stay ahead of the rock rolling down ...like you see in traders of the lost ark....the 2018 tax man must be appeased too!

I am hoping that this downturn in crypto prices and BTC etc is due to people in 1) my boat in some manner ..miners or 2) just getting ducks in a row and

have to sell for last years taxes by April 15th in the USA



anyway, the only plus side of dumping stuff to usd now for the above purposes I state...is if the price of BTC dumps further...so I kinda fell like a traitor

but no choice...

the good news is as stated already by  anon136...by us both having to sell some now.....I too always sell at the low so the BTC price should shoot up..rapidly
!

(frigging reality sucks!)

chinese miners shitting on the free money parade? :-D >>Antminer should hire some pumpers lol

well i got my miners on a bet on april 1st on bitcointalk here of 6 buck LTC floor...so was ahead on that game miner wise..but all things must end

and nothing but 'dubious' miners i see in 2018...so might be wrapped up to being a 'hobby miner' again with 2 in the basement

but yeah, too many asic's too low a price...from what I hear ...BTC miners in countries with cheap electric are just breaking even...

so everything BTC and crypto wise seems to be in some distress

[JayJuanGee]

[edited out]

Geez louise....I cannot tell if you are trolling or not?
It should have been obvious that I am agreeing with you here. I merited the post, then I post a picture illustrating that I agree with it.

I realize we have been at odds in the past but it should serve as a breath of fresh air for you that I find your opinion to be valid. Your strategy is very similar to mine, very simply, buy on the way down and sell on the way up.

-PoolMinor

I guess we are just speaking different languages.  I will work harder. 

[d_eddie]

This can't be the trustee selling. On Saturday? Puh-leeze!

This is manipulation, plain and simple. Somebody wants to have our coins for cheap.

Don't let them.

Hodl.

[jojo69]

wow i think 43% bitcoin dominance is way too much

correction will come soon

What altcoin actually has real utility? Monero, ethereum and maybe filecoin (when it comes out)? And of those 3 only one is a money. So really only Monero should be capitalized beyond what is necessary for on network token utility. Bitcoin dominance should probably be 80% or more.

gotta get me some of those Moneros yo

[jojo69]

yeah..I'm gonna have to sell on the low here also....scrypt-pow mining is in a downtrend...I have 13K of income tax to cover with tax man from last year

that I can't write off in any manner ..including equipment (used 2018 $$$ to dump into 15K solo401k for last year (which I can buy crypto with if it stays in

that sandbox...but then again when?) so all is good on that front..but a solo401 for a self-employed business...can only be funded according to you income stream

not on dividends (ie selling crypto more than I make in the year) in 2018....so I'm gonna start hitting a wall here soon with mining puking out

So looking at things now....I too will have to sell some to stay ahead of the rock rolling down ...like you see in traders of the lost ark....the 2018 tax man must be appeased too!

I am hoping that this downturn in crypto prices and BTC etc is due to people in 1) my boat in some manner ..miners or 2) just getting ducks in a row and

have to sell for last years taxes by April 15th in the USA



anyway, the only plus side of dumping stuff to usd now for the above purposes I state...is if the price of BTC dumps further...so I kinda fell like a traitor

but no choice...

the good news is as stated already by  anon136...by us both having to sell some now.....I too always sell at the low so the BTC price should shoot up..rapidly
!

(frigging reality sucks!)

There are a lot of people in the same boat, Wall St. wants those coins nice and cheap.

The pump will come immediately after tax day.

[JayJuanGee]

https://www.bloomberg.com/news/articles/2018-03-16/fewer-americans-hold-cryptocurrencies-than-you-probably-think

Great stuff from Bloomberg there.
What do you reckon the real figure for ownership is? 0.5%?

If you average out the men and the women in the survey, then overall, it looks like bloomberg is finding about a 6% self-proclamations of ownership of crypto in the USA... and that does seem a bit high, even in the USA...

I do think that we are going to get variance in different parts of the world, and I think that there is quite a bit of speculation that puts world-wide involvement (ownership) at something in the neighborhood of .5%... which would be around 35 million.

So, yeah, those bloomberg self-proclamations of ownership numbers are a bit surprisingly high, but the seemingly higher number could be factored into their survey too.... or maybe questions about whether bloomberg are surveying americans broadly enough, and even some problems with seeming to fail to define what is a proper "ownership" threshold, something like currently own $10 or more or have transacted with $10 or more in the past calendar year?.. that is if we could deem such a low threshold of $10 as meaningful ownership?

[d_eddie]

There are a lot of people in the same boat, Wall St. wants those coins nice and cheap.

The pump will come immediately after tax day.

Which is... when's the last deadline?

[d_eddie]

As a business owner I wouldn't price anything in bitcoin. Not yet anyway. Maybe after wider adoption it's volatility calms down. But you can still price your products in ounces of gold or silver and take bitcoin as payment. So that whole "bitcoin cant be a currency" thing is dumb. It may or may not ever be a good money. But it makes a fine currency even right now.

(snip)

Currently on a system's-wide basis, part of the problem with bitcoin has to do with Gresham's law, but another part is not widely adopted, but bitcoin is way better than pms in terms of divisibility, recognition, trustability and portability.. and perhaps a few more things when it just comes to the currency aspect of bitcoin.  

We may be solving the tx fee issue soonish. Signs are promising. However, one problem I see with bitcoin as a currency is price volatility. It's unbearable. I think that's what Anon136 meant when mentioning gold.

OK, 1 btc = 1 btc - so the price in echo-chamber terms is stable, but

How many apples for 1 btc?
How much bread, gasoline?
How many lambos?

Until these questions get an answer that drifts as slowly as gold (or better yet, slower), general adoption as a currency isn't reasonable to expect.

[JayJuanGee]

There are a lot of people in the same boat, Wall St. wants those coins nice and cheap.

The pump will come immediately after tax day.

Which is... when's the last deadline?

April 17 is the tax deadline this year, but it seems a fairly random date to tie to any kind of meaningful BTC price performance

[jojo69]

There are a lot of people in the same boat, Wall St. wants those coins nice and cheap.

The pump will come immediately after tax day.

Which is... when's the last deadline?

17 April

[JayJuanGee]

As a business owner I wouldn't price anything in bitcoin. Not yet anyway. Maybe after wider adoption it's volatility calms down. But you can still price your products in ounces of gold or silver and take bitcoin as payment. So that whole "bitcoin cant be a currency" thing is dumb. It may or may not ever be a good money. But it makes a fine currency even right now.

(snip)

Currently on a system's-wide basis, part of the problem with bitcoin has to do with Gresham's law, but another part is not widely adopted, but bitcoin is way better than pms in terms of divisibility, recognition, trustability and portability.. and perhaps a few more things when it just comes to the currency aspect of bitcoin.  

We may be solving the tx fee issue soonish. Signs are promising. However, one problem I see with bitcoin as a currency is price volatility. It's unbearable. I think that's what Anon136 meant when mentioning gold.

OK, 1 btc = 1 btc - so the price in echo-chamber terms is stable, but

How many apples for 1 btc?
How much bread, gasoline?
How many lambos?

Until these questions get an answer that drifts as slowly as gold (or better yet, slower), general adoption as a currency isn't reasonable to expect.

You might be correct that Anon136 is referring to volatility, but he did not say that... and even accounting for volatility, bitcoin is probably better than an ounce of gold or silver as currency, even in the presence.. .. My point is that we can deal with bitcoin's volatility rather than trying to figure out how to currently transact with gold or silver... you go try it.. good luck.