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

[lucas.sev]

LTC is heating up as well. Don't see a reason why it wouldn't reach 10-20% of BTC value soon.

The question is: why would it? Feels kind of weird saying this (usually normal people tell bitcoin people this), but there is basically no acceptance for litecoin at the moment, it's 100% speculation.

just like bitcoin to 99% of people.

False equivalency. LTC does not even have 10% of the acceptance of BTC.

I know, what I mean it's not important at all because its a speculative vehicle (store of value) and nothing more.

[Rampion]

Pretty mind blowing stuff. That real-life stories are a good example of how you play this game: you invest what you can afford to lose, and you go for the long run, holding to the majority of your coins. The potential and growth are so huge that by gradually cashing out you can live OK while holding to the vast majority of your coins.

I have developed the concept of "rake", which in this context means the (average) percent of your holdings that you sell, every time the price doubles. This is applicable in the situation where you are unloading the coins. If you are still accumulating, it naturally does not hold.

According to the virgin-money-flow-model, the average rake is 17%, which means that each 1000x increase (consisting of 10 succeeding doublings) dilutes your holdings by 84%, formula: 1-(1-17%)^10.

If you want to play tigher, choose 10% rake for 65% dilution.
If you are OK to play looser, 30% rake dilutes 97% of your coins away, but the remaining 3% are still worth 30x more than all the coins in the beginning.

More about it.

I have to say that my "exit" strategy is very similar to your "rake" concept. It worked well so far, I still have the vast majority of my coins but I will live quite better in 2014.

[wachtwoord]

i told you about the ltc train, who got on?

Missed that one, wish I would have invested all in litecoin at 9$ so it would have been doubled.

half a cent each was a better time to get on

Damn.... i thought my $50 for 8000btc was good.

Did you get 500k ltc? lol

Do you still have 8k BTC?

And nice going Goat. You guys make me feel piss poor.

[rpietila]

I have to say that my "exit" strategy is very similar to your "rake" concept. It worked well so far, I still have the vast majority of my coins but I will live quite better in 2014.

I don't like "exit" because we are entering Bitcoin and exiting the fiat world. We are just raking the pot to live more comfortably.  

[wildbud]

Hmm neither china nor bitstamp is following suit with gox ... not sure if I trust this rally

[Vycid]

i told you about the ltc train, who got on?

Missed that one, wish I would have invested all in litecoin at 9$ so it would have been doubled.

half a cent each was a better time to get on

Damn.... i thought my $50 for 8000btc was good.

Did you get 500k ltc? lol

just under 500k and lol at racetractor r and d  

sigh

Start feeling pleased that I'd decided to "diversify" into 100 LTC, and along comes Goat...  

Just promise me you'll be a sane and accountable force for political good in the world.

[wachtwoord]

i told you about the ltc train, who got on?

Missed that one, wish I would have invested all in litecoin at 9$ so it would have been doubled.

half a cent each was a better time to get on

Damn.... i thought my $50 for 8000btc was good.

Did you get 500k ltc? lol

I have 10


just under 500k and lol at racetractor r and d 

sigh

Start feeling pleased that I'd decided to "diversify" into 100 LTC, and along comes Goat... 

[windjc]

Countdown update: less than 3 1/2 days to 1000.

$50 away

[Nemesis]

i told you about the ltc train, who got on?

Missed that one, wish I would have invested all in litecoin at 9$ so it would have been doubled.

half a cent each was a better time to get on

Damn.... i thought my $50 for 8000btc was good.

Did you get 500k ltc? lol

Do you still have 8k BTC?

And nice going Goat. You guys make me feel piss poor.

I double it back in April . Dont bother trading since.

[Vycid]

i told you about the ltc train, who got on?

Missed that one, wish I would have invested all in litecoin at 9$ so it would have been doubled.

half a cent each was a better time to get on

Damn.... i thought my $50 for 8000btc was good.

Did you get 500k ltc? lol

Do you still have 8k BTC?

And nice going Goat. You guys make me feel piss poor.

I double it back in April . Dont bother trading since.

Yeah? So what was all that business about your "walls", then?

[Ivanhoe]

What's that coming over the hill? It's Wallstreet!

[Vycid]

Has anyone thought that if Bitcoin (or similar) becomes a world currency, there will be historians and anthropologists crawling all over the backups of these forums 200 years from now, understanding how the crypto revolution happened?

Weird to be in the middle of history.

[nanobrain]

Big gap between China and Gox...USD935 = Y5700 on xe.com but only 1BTC=Y5400 on btcChina...I'd expect that will close as China wakes.

[600watt]

Countdown update: less than 3 1/2 days to 1000.

$50 away

this countdown says 4 days, 23 hours,...: https://btc1k.com/ 

[chrsjrcj]

It's now 5 am in Shanghai.

The Chinese will soon be awake.

[alexeft]

Has anyone thought that if Bitcoin (or similar) becomes a world currency, there will be historians and anthropologists crawling all over the backups of these forums 200 years from now, understanding how the crypto revolution happened?

Weird to be in the middle of history.

Oooopsie!!! We should be careful what we say!  

[windjc]

Countdown update: less than 3 1/2 days to 1000.

$50 away

this countdown says 4 days, 23 hours,...: https://btc1k.com/ 

They obviously have been following my posts and wanted to give themselves and extra 36 hours to prepare for ticket processing,

[DaRude]

So you're on btc forum betting on btc price, but the bet is in fiat?

Countdown update: less than 3 1/2 days to 1000.

$50 away

[ChartBuddy]

[kurious]

Fiatleaks is showing over 4500 BTC an hour in money coming in from around the world in total (mostly USD and CNY).  

USD way above China, but not because CNY volume is unusually low...

Fun to watch:

http://fiatleak.com/