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

[xhomerx10]

Has anyone bothered to look at the Consensus 2018 schedule of events for today?



I think I see the problem.

[infofront]

The "BullBear Analytics" newsletter explains why we likely didn't see a Consensus rally this year:

While there is still time for the bulls to pull off a miracle and rally price above $9,000 in time to call it a Consensus-driven move, we don't think the odds are very good considering the technicals are clearly pointing to more sideways consolidation while the sentiment surrounding the conference itself is mixed at best. No doubt it is a good sign that this event has gotten so large and garnered so much media attention, however that also may be its downfall given the reviews of everything from the registration process to actual access to the speakers has not been great to say the least. Additionally, the number of projects marketing and presenting that have no working product, much less revenues and/or profits, has apparently skyrocketed which has led many to compare this to the "internet" conferences of the late 90's which were a precursor to the crash. Whether or not the broader crypto space is in that sort of bubble remains to be seen, and we highly doubt BTC is specifically, however at the very least we can say that there appears to be saturation which might be one of the reasons the markets are not rallying this year like they have in the past.

TLDR (edited): Consensus has become a cesspool of ICO shitcoin/"blockchain" scams.

[JayJuanGee]

Here's a philosophical question: Can you be a Bitcoin Maximalist and still have some pet alts?

Yes.

Here are a few requirements, off the top of my head:

You can remain a bitcoin maximalist, as long as you recognize that:

1) bitcoin is the ONLY meaningful long-term fundamental investment (largely based on its proof of work and currently, there are no other coins that are providing such foundational security in the space),

2) as long as you do not invest more than about 1/3 of your total crypto portfolio into various alts (and even 1/3 seems a bit much but could be reasonable in some circumstances),

3) as long as you recognize that you are going to have to strategically exit most of the various alts and have some kind of plan for such exit, unless the alts compose of such a small amount of your total crypto holdings, such as less than 5%, then you are not really relying on them for long term value.

4) Of course, an exception to the above 3 would be if you already hold a decently-sized value in bitcoin that allows you to be self-sustainable based on the passive income from your bitcoins, such as holding more than $5million in bitcoin for someone who has passive income requirements of less than $100k per year, would allow you to play around and to hold higher percentages of your crypto investment in other cryptos (largely because your living needs are already largely covered)....   

[Toxic2040]

Squirrel gathered many corn..to fat to get back up tree for now. One level penalty.

[JayJuanGee]

Meanwhile for the really important news:
https://www.cnbc.com/2018/05/14/those-lambos-parked-at-the-bitcoin-conference-are-just-a-promotion.html

Interesting that the bitcoin (or crypto) lambo meme has some foundations in "fake" news.      Saddens me.

 I believe in this case, marketers simply used an existing trend.  The foundations are based in Bitcoin created wealth rather than "fake news".

Really, I was trying to get at the question of the Lambos being planted at Consensus 2018, rather than the fact that real bitcoiners do actually buy Lambos when they are beginning to rake in the dough.  Maybe also, I was joking too much, because I did realize that it would have been quite probable that some folks had invested less than $10k into crypto - even Ethereum in the single digits, and were able to ride various waves into Lambolandia.

So, yes, there could be quite an appeal to have Lambos parked at these kinds of crypto events for marketing purposes, even when it ends up that those lambos are not owned by actual conference attendees.  Personally, I would not even want draw that much attention to myself, in terms of having anyone know that I was able to get the lambo through crypto rather than some other way of getting it that would not draw so much attention to me as a possible robbery target.

[JayJuanGee]

Here's a philosophical question: Can you be a Bitcoin Maximalist and still have some pet alts?

Yes... but you lose part of your soul in the process. Or at least that is how I feel sometimes even if my BTC count keeps slowly increasing.

O.k.  Caught you in a guilty admission against interest, bitservie wurvie.  Either you are going to have to go to confession for that, or buy us all drinks for the bitcoin profits that you have made from selling out.   

[Icygreen]

Just arrived back home to Canada from Vietnam. It was getting way too hot for comfort and productivity. Nice to be back in a temperature cooler than me.
I was pleasantly surprised to find this among Hong Kong airlines entertainment choices.  
Watched it twice  

[realr0ach]

I was pleasantly surprised to find this among Hong Kong airlines entertainment choices.  
Watched it twice  

[bitserve]

Here's a philosophical question: Can you be a Bitcoin Maximalist and still have some pet alts?

Yes... but you lose part of your soul in the process. Or at least that is how I feel sometimes even if my BTC count keeps slowly increasing.

O.k.  Caught you in a guilty admission against interest, bitservie wurvie.  Either you are going to have to go to confession for that, or buy us all drinks for the bitcoin profits that you have made from selling out.   

Well.... on the dip a couple of days ago I bought (for the first time) some IOTA for a quick 10% profit. I have never felt so dirty even if it was for a mere 24 hours. That's probably the worst I have to confess.

I never use my Bitcoin for that, just some pocket FIAT laying on the exchanges. Profits end on BTC sooner or later though.

[Paashaas]

19% Bcash nodes lost after the HF...lol

[Bitcoinaire]

twitter...

[luckygenough56]

As always nobody has a clue.

TAs should be banned from crypto.

[JayJuanGee]

Here's a philosophical question: Can you be a Bitcoin Maximalist and still have some pet alts?

Yes... but you lose part of your soul in the process. Or at least that is how I feel sometimes even if my BTC count keeps slowly increasing.

O.k.  Caught you in a guilty admission against interest, bitservie wurvie.  Either you are going to have to go to confession for that, or buy us all drinks for the bitcoin profits that you have made from selling out.   

Well.... on the dip a couple of days ago I bought (for the first time) some IOTA for a quick 10% profit. I have never felt so dirty even if it was for a mere 24 hours. That's probably the worst I have to confess.

I never use my Bitcoin for that, just some pocket FIAT laying on the exchanges. Profits end on BTC sooner or later though.

hahahahahaha...

When in doubt or in a pickle, plead poverty.... I am with you there.   

[Anon136]

I was pleasantly surprised to find this among Hong Kong airlines entertainment choices.  
Watched it twice  

Ummm... people who went bitcoin a couple of years ago are rich AF and people who went silver are the same as ever bitter and angry at bitcoiners (see the comments section on zerohedge). I should know. I was more heavily invested in silver than bitcoin. Good thing it didn't end up taking a lot of bitcoin to get the job done...

[Icygreen]

I was pleasantly surprised to find this among Hong Kong airlines entertainment choices.  
Watched it twice  

FTFY

[mindrust]

Here's a philosophical question: Can you be a Bitcoin Maximalist and still have some pet alts?

My alts are only 3% of my crypto portfolio. 97% in btc and I consider myself a btc maximalist.

Alts are like lottery tickets to me in this space (crypto) just like bitcoin once was a lottery ticket to me that I wouldn't hold more than %5-8.

[TERA2]

I will be accepting the formal apology from the bulls on my desk by the end of the month. Thanks.

[JayJuanGee]

I will be accepting the formal apology from the bulls on my desk by the end of the month. Thanks.

Yeah right.  

Not gonna happen, chicken little.  

[Anon136]

Here's a philosophical question: Can you be a Bitcoin Maximalist and still have some pet alts?

My alts are only 3% of my crypto portfolio. 97% in btc and I consider myself a btc maximalist.

Alts are like lottery tickets to me in this space (crypto) just like bitcoin once was a lottery ticket to me that I wouldn't hold more than %5-8.

A bitcoin maximalist can have 0% bitcoin in theory. Maximalism is just about how you define your goal. What is it that you are trying to acquire the most that you can of? If you want the most bitcoins that you can possably have at some point in the future, perhaps the best path towards that goal is to have no bitcoins at all at the present time.

[yonton]

Here's a philosophical question: Can you be a Bitcoin Maximalist and still have some pet alts?

My alts are only 3% of my crypto portfolio. 97% in btc and I consider myself a btc maximalist.

Alts are like lottery tickets to me in this space (crypto) just like bitcoin once was a lottery ticket to me that I wouldn't hold more than %5-8.

A bitcoin maximalist can have 0% bitcoin in theory. Maximalism is just about how you define your goal. What is it that you are trying to acquire the most that you can of? If you want the most bitcoins that you can possably have at some point in the future, perhaps the best path towards that goal is to have no bitcoins at all at the present time.

Thats what Im doing