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Question: What year will we achieve a new ATH?
2019 - 41 (28.3%)
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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21178743 times)
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bitserve
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May 27, 2018, 06:56:23 AM

Bart Simspon spotted again on every major exchange out there, this is becoming truly annoying! This feels so coordinated among several exchanges. For once, I'm with the DOJ

Yeah, shut them all down and ban Bitcoin for good.
I did not say that: I was simply implying that those exchanges which are playing with fire should be treated accordingly. No need to ban bitcoin, it's not bitcoin fault. For all I care exchanges could all blow up

But the fate of Bitcoin is currently joined to that of exchanges. It is the weakest point. Maybe in some years if all goes well and adoption increases dramatically things will be different. Now most of the Bitcoin activity is exchange based.
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May 27, 2018, 07:02:13 AM

[...] paycheck to paycheck [...]
My paychecks are irregular but I have some buffer to handle that and very little fixed expenses. For the rest I'm irresponsibly far into bitcoin and can't buy any more of these cheap coins.
Living paycheck to paycheck sounds very stressful. What worked for me in the past is listing all my fixed and regular expenses, converted to cost/month where needed, order them largest to smallest, and starting from the top of the list, try to get a better deal or consider cancelling the expense altogether. One that is often overlooked is food. Supermarkets have huge margins and you can often get much better deals if you order larger quantities on-line. Electricity usage too. I have natural gas heating and use about 1100 kWh/year using good LED lights, net-book computers and fridge, freezer and internet modem as the _only_ permanent loads, even the microwave has a plug-in switch since I don't like to spend 8 Watts to show the time when not in use. It's a bit of time to sort out but small savings on regular expenses keep adding up in time after that.
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May 27, 2018, 07:06:14 AM

Do you really get rekt every time, bones, or is it just preventive whining?

(You're free not to answer this, of course. It's just a cocky opening.)

I'd try and make the bet smaller relative to my playroll, keeping leverage at maybe 3 tops, 1~1.5 even better. "Going long" can actually mean buying a few cents and stashing away. So can "taking profit." Increasing the amount in the freezer is probably the most hopeful subgoal to gambling with 100% house money.

I mean: you know a few things about retirement and taxes. I'm sure you made a few calculations. I know you understand this magical internet money fairly well, too. Come on.

To be blunt, my finances are a horror story. I truly am REKT. My cryptocurrency portfolio has never been large. We are talking less than 1 BTC worth ATM.
Also, everyone knows the saying that those who can't,  teach. Definitely applies to me when it comes to retirement. I have jack shit saved up for retirement and I am 50.
I basically live paycheck to paycheck and the balances on my credit cards increase monthly. I have been working the same job for 15 years and I am probably way overqualified for the position. I hate to admit it, but I am truly an unmotivated loser. What has been nice, starting in November of 2017, is that I did get to cash out on my cryptocurrency profits to keep my head above water. Unfortunately, that well is going to dry up rather quickly. Especially if the BTC market keeps going with the current downtrend. Sometimes I'm just tempted to liquidate all my meager cryptocurrency holdings right now. However, a part of me wants to hold on for as long as possible because quite frankly, it gives me a little ray of hope that maybe things will turn around, and I can delay the looming bankruptcy filing indefinitely.
I will probably regret this posting, since I have bared all to practical strangers. Oh well, at least it was a little therapeutic to have my own pity party.

No point liquidating now (RSI is almost 30) if you have less than 1 BTC.  If its any consolation, most of the world lives paycheque to paycheque.  I also have less than 1 BTC.  

I'm just bitching. Now that I have had my cathartic experience, I feel better now. Part of the bleak outlook is that two years ago my partner had a small inheritance. We've been living in gravy, (well to us it was gravy) for the past two years. But that is mostly gone now. Only 1k left of that. Plus, my partner just had a hernia surgery a little over a week ago. So he hasn't been working this month due to the hernia and will probably not be working for most of June. Unfortunately, he works for himself, so no vacation or sick time to fall back on for him. I'm sure that by July he will be back to work. He's starting to feel the financial pinch as well, so maybe he will be motivated to take on another customer or two. Furthermore, we both share a habit that is rather expensive. We both smoke cigarettes. That's 450.00 per month to ruin our heath and make our clothes, our apartment and our car reek of cigarette smell. One of our friends won't even step foot in our apartment due to the stench. So far, the both of us have had brief conversations resolving to quit, someday; then we each proceed to light up another one.  Cheesy Unfortunately, it's probably not going to work too well if one of us tries to quit and the other keeps smoking like a chimney. We will see.
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May 27, 2018, 07:14:06 AM
Last edit: May 27, 2018, 07:30:14 AM by bitserve


yep..that is pretty much true....I ONLY had the miner....from that miner to pump the income (yep legal with IRS too from day one) for ALL the stuff you mentioned flowed from this income...I worked with disabled

folk...never a lot of money in that ..thus the mining had

to stand on its own....also remember I fired up this KNC Jupiter BTC miner on Oct 18th 2013 and that day BTC was almost exactly $150 (I looked at worldcoinindex..but they don't go back till 2013 or I can't read

the graph) .....and I think (again if I remember right) I was making ONE BTC per day.....

and yeah, mostly was in HODL mode for everything ...except those things that were for mining....I also have a mess of Altcoins that more than make up for what you are talking about...for any 'slush' after the

BTC stuff...

so yeah, a case could be made that REALLY the only money I have in crypto 'out of my job' was the $5,131.80 usd for the KNC Jupiter of 2013.......so the revenue I have used/bought miners with etc...and what

I have left over in HODL mode..is indeed profits....thus a case again could be made that I 'mentally' could claim that anything above the $5,131.80 was profit..in that all the expenses for future expansion came

from that one machine....thus $513.18 BTC would be the most definative extreme example of denial of loss of $$$ after any number under that point for BTC (again not counting the significant ALT's slush on

the assumption I'd sell all that before getting to such an extreme point...

just the way it worked out....I retired as of 1/14/18 this year due to crypto...trying to use crypto to bridge the gap between 63 years and full retirement and traditional investments at 66 with soc sec etc

same 'dubious' lifestyle' $$$ wise if I 1) work 2) use crypto till 66 3) crypto goes tulips after 66 again, same modest dubious suburban ghetto lifestyle

so if it all goes tulips I am going to make t-shirts to befuddle those who will say 'I told you so' that say


Crypto: Allowed me to retire 3 years early, bite me!

Thus, if nothing else comes from the miracle of tripping over BTC in 2013....I can say at least that I man'd up and gave it my all....hell, I'm 63 years old ...I have worse problems then BTC and crypto going tulips!

(what do they say: write a book, plant a tree, make a fortune and lose a fortune......we will be the first to know I guess)

brad
 

p.s. the above while not exactly correct....is a way to look at it from the perspective of which I started.....(in the PSU's I'll have left over alone!) but as a mental viewpoint on the ups and downs of all this

stuff and how serious to take it all..it works for me. Smiley Also as far as the work/time thing...even if it all goes tulips..I have not had this much fun since I was in University....thus it is a win also.



So if I understand it correctly, $513 is just a symbolic price point of your choosing that doesn't take into account alts and other profits. It's not that it is the right way to calculate a "break even" but if it works for ya who am I to say Smiley

If it, somehow, made you reach your retirement plan years early than you thought, then it already gave you some.

I also have a FAKE "break even" price which is the BTC price at the LAST time I sent FIAT to an exchange (just before the Bcash fork). If it ever reaches that price again (around $3000?) I will just send more FIAT and keep with my accumulation plan. In the meantime I just keep slowly increasing my stash by not withdrawing anything and trading.

Agreed on the time invested as some combination of entertainment and education "profit". I learned a lot about "money" in here which made me change some previous assumptions I had. It's been an interesting journey.... let's see what comes in the following years.

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May 27, 2018, 07:18:42 AM

50 years old without any savings, god daym, this story is sad as fuck.

You should have invested in the stock markets at least dude. I missed the crypto train mostly too, since it was a whole new concept and was a risky investment but people who took that risk made the millions not those who didn't.

No matter what your monthly salary is, you should keep some of it and invest in different assets. (used to be stocks, cash, gold... now it is crypto, cash(should be your smallest investment), gold and stocks-this one is in a bubble right now probably, wait for the crash) Saving $100 or $200 per month might not look like a lot at the first glance but after 20 years, it may grow into a lambo or a house at least.
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May 27, 2018, 07:28:07 AM

Bart Simspon spotted again on every major exchange out there, this is becoming truly annoying! This feels so coordinated among several exchanges. For once, I'm with the DOJ

Are you implying that bitcoin is manipulated ?
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May 27, 2018, 07:30:16 AM

Bart Simspon spotted again on every major exchange out there, this is becoming truly annoying! This feels so coordinated among several exchanges. For once, I'm with the DOJ

Are you implying that bitcoin is manipulated ?

The Simpsons is trying to play Bitcoin the same way Dragon Ballz is.
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May 27, 2018, 07:35:33 AM
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The market is going down again, today BTC is about $7300 but don't worry, just HODL  Cheesy

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May 27, 2018, 07:50:22 AM

50 years old without any savings, god daym, this story is sad as fuck.

You should have invested in the stock markets at least dude. I missed the crypto train mostly too, since it was a whole new concept and was a risky investment but people who took that risk made the millions not those who didn't.

No matter what your monthly salary is, you should keep some of it and invest in different assets. (used to be stocks, cash, gold... now it is crypto, cash(should be your smallest investment), gold and stocks-this one is in a bubble right now probably, wait for the crash) Saving $100 or $200 per month might not look like a lot at the first glance but after 20 years, it may grow into a lambo or a house at least.

I did all of that but in the end, didn't stick with it and cashed out. I even cashed out an IRA long ago, and paid the stiff penalty. But I thought that I had life to live and habits to feed. Then with my current employer, who I have been with for 15 years, has offered a 401K that I never opted in because they did not guarantee a match, only would match if they made a profit. I figured, "why just lock up my money and end up just cashing out again and paying Uncle Sam that damn penalty?" Turns out my employer ended up matching every single year, so in retrospect; it was a bad decision drawn out over many years. A couple of years ago, my employer started to guarantee the match and made the plan opt out rather than opt in. So, I've been contributing since then. So far, when I check my balance, the amount accumulated looks rather paltry. It's only about 2 1/2 months of my current gross income. However, it has only been two years, so maybe time will be my friend if I just stick with it and keep my foolish and greedy little paws off of it.
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May 27, 2018, 08:19:28 AM

Darkness rises...



Jesus fucking Christ Bob!


just stop...fuck

my pills, where are my pills


I think Bob gets an erection every time he stares at his face... Smiley ... MaybeNoHomo...  Roll Eyes  Roll Eyes ... ROFL!.. yeah right... who am I kidding??... Bob is gay AF after bogdanovfs... Cheesy Cheesy

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How much alt coin diversification is needed? 0%?


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May 27, 2018, 08:32:45 AM

MSM FUD on Price Manipulation Scams = Mega Dip.

https://www.techdr.com.np/2018/05/feds-open-probe-into-bitcoin-price.html

Buy the DIP & #HODL

A year or 2 from now this will all seem funny.

I've already set a bot to BTFD and scalp when it rises a bit and I'm running out of fiat. REKT.  Cry


I am not sure if a BOT will solve issues of preparing for longer periods of dip beyond expectations, so your strategy is not correct, if you have not projected down, way past your expectations, probably into the $3k territory, at least, even if price only goes down to $7k.  In other words, you should not even be close to running out of fiat in these price territories, which really means that your buy orders are set up too wrong, and you are buying too much and not preserving enough..
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May 27, 2018, 09:26:39 AM



Coinbase just bought a decentralized exchange......

Coinbase.......
decentralized exchange.......


I think i need a recap on what "decentralized" means......
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May 27, 2018, 09:35:18 AM

You've got an interesting community going here, and there is some great info in some of the posts.

I looked in because I have to make a decision about Bitcoin again. Any Bitcoin i get stays in one of my wallets, and I won't consider 'spending' it for at least 3 years, so that isn't a problem. My problem is in deciding on the best time to withdraw some dollars as bitcoin. I have an account that picks up a few dollars from my Internet activities, and I can ask for this to be paid in Bitcoin. There is no charge for this, and there doesn't seem to be a spread involved in the price calculation, so it seems to be a pretty good way to collect coins. I have to decide when to withdraw though, and it can take up to 5 days to receive the payment in my wallet. I suspect this is because the payments are batched to reduce transaction fees, and they may wait for received payments to avoid having to purchase coins to make payments.

I want to withdraw at some time within the next month or two, so I have to try to predict the price movements during that period to optimise the acquisition price. The other difficulty is in trying to get a feel for short term volatility, as I have no control over the time that the coins are 'purchased' or valued. I like the system as it is, but I have a severe lack of knowledge to allow me to optimise my returns. It's particulrly difficult at the moment, because the arrest and imprisonment of Tommy Robinson in the UK is going to have some wide reaching political implications. My inclination is to watch events for a week, and claim my coins early next week. I base this on my uninformed opinion that Bitcoin has a little bit of a short term price drop arriving in the coming week.

Am I taking a sensible view of things?
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May 27, 2018, 09:55:23 AM

[...] It's particulrly difficult at the moment, because the arrest and imprisonment of Tommy Robinson in the UK is going to have some wide reaching political implications.
If there is anything I have learned about bitcoin is that often the price doesn't move an inch when there is major global bitcoin news (not just UK) and that there can be very large price movements without even a trace of bitcoin news to be found anywhere.
My conclusion is that most bitcoin trading is done based on the bitcoin chart and nothing else.
Since bitcoin is spread over the globe pretty evenly, the bitcoin price seems to average out price movements of major fiat currencies, With maybe a bit more influence to the US dollar since Europe still trades a lot using the USD/BTC charts.
We dropped about 12% over the last 7 days, which I consider relatively stable. (more than 2% per day, averaged over several weeks is still quite normal for bitcoin).
To me, the next days and weeks are just a guess, but I'm all in and trust that bitcoin will be useful for many years to come.
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May 27, 2018, 10:18:17 AM


If there is anything I have learned about bitcoin is that often the price doesn't move an inch when there is major global bitcoin news (not just UK) and that there can be very large price movements without even a trace of bitcoin news to be found anywhere.

Agreed.
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what is this "brake pedal" you speak of?


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May 27, 2018, 10:20:26 AM
Last edit: May 27, 2018, 10:38:26 AM by vapourminer

my pills, where are my pills

no worries, here, have some of mine. the white ones are the best.
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May 27, 2018, 10:46:47 AM


Coinbase just bought a decentralized exchange......

Coinbase.......
decentralized exchange.......


I think i need a recap on what "decentralized" means......

99% of decentralized exchanges allow you to trade crypto to crypto.

There is one decentralized exchange that uses fiat but that is more like localbitcoins than a real exchange.
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May 27, 2018, 11:02:33 AM
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50 years old without any savings, god daym, this story is sad as fuck.

You should have invested in the stock markets at least dude. I missed the crypto train mostly too, since it was a whole new concept and was a risky investment but people who took that risk made the millions not those who didn't.

No matter what your monthly salary is, you should keep some of it and invest in different assets. (used to be stocks, cash, gold... now it is crypto, cash(should be your smallest investment), gold and stocks-this one is in a bubble right now probably, wait for the crash) Saving $100 or $200 per month might not look like a lot at the first glance but after 20 years, it may grow into a lambo or a house at least.
"Missing the crypto train" is mostly an overused term due to the bear market we are having but if this market started to shift upwards you can probably be able to ride with other traders as well. Also it is sad to imagine his current situation but he did not realized early on to investing other assets when he was just younger. And investing in crypto without knowledge of investing at the same time being in the market at the wrong time will really make you do bad decisions.
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May 27, 2018, 11:45:41 AM
Last edit: May 27, 2018, 12:13:53 PM by ivomm
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I agree that there are many people like Rojer Ver who delibarately sold tens and hundreds of thousands of Bitcoins to pump their beecash etc. shitcoins. But there are other whales as well - mining whales mostly with short fat fingers which love to hit sell button on bitfinex. Each day 1800 new bitcoins are mined. For a week they gather 12600, for 1 month 50400, etc. Not so long time ago (5-6 months) they had enough profit to do so - like 20$ per asic s9 per day. But now, thanks to the many new s9's (and equivalent) plugged in, their profit is only 2.8$ per day with 0.1$ elecricity price. In the last 3 months the mining difficulty rose by 43% (meaning 43% less profit with the same price of Bitcoin). In 3 months the expected difficulty is almost the same 35-40%, so their revenue will drop from 6 to 3-4$ meaning the profit will be around 0$. I am curious if they will be happy to hit the sell button then. I guess not.

That said, what can we expect to happen in the next 3 months? When 0.1$ el. price asics are turned off, this will buy some time (but not much) for the 0.04-0.06$ el. price asics to mine on profit. In another 3-6 months even with the lowest el. price asics will have to be turned off. This is very bad news for Bitmain and its competition, but not for the hodlers! Despite the hatred of Jihan Wu for Bitcoin team and supporters, he will be FORCED to pump the price at least 4x, if he wants to continue to manifacture asics and run his pool. The fact that the moderators in bitcoin mining forums ban me for posting these stats, proves how afraid are of the truth they. And those who buy new asics s9 are completely unaware of the mining difficulty charts:

https://whattomine.com/asic
https://www.coinwarz.com/difficulty-charts/bitcoin-difficulty-chart
https://diff.cryptothis.com/
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May 27, 2018, 11:50:12 AM

I agree that there are many people like Rojer Ver who delibarately sold tens and hundreds of thousands of Bitcoins to pump their beecash etc. shitcoins. But there are other whales as well - mining whales mostly with short fat fingers which love to hit sell button on bitfinex. Each day 1800 new bitcoins are mined. For a week they gather 12600, for 1 month 50400, etc. Not so long time ago (5-6 months) they had enough profit to do so - like 20$ per asic s9 per day. But now, thanks to the many new devices their profit is only 2.8$ per day with 0.1$ elecricity price. In the last 3 months the mining difficulty rose by 43% (meaning 43% less profit with the same price of Bitcoin). In 3 months the expected difficulty is almost the same 35-40%, so their revenue will drop from 6 to 3-4$ meaning the profit will be around 0$. I am curious if they will be happy to hit the sell button then. I guess not.

That said, what we can expect to happen in the next 3 months. When 0.1$ el. price asics are turned off, this will buy some time but not much for the 0.4-0.6$ el. price asics to mine on profit. In another 3-6 months even with the lowest el. price asics will have to be turned off. This is very bad news for Bitmain and its competition, but not for the hodlers! Despite the hatred of Jihan Wu for Bitcoin team and supporters, he will be FORCED to pump the price at least 4x, if he wants to continue to manifacture asics and run his pool. The fact that the moderators in bitcoin mining forums ban me for posting these stats, proves how afraid are of the truth they. And those who buy new asics s9 are completely unaware of the mining difficulty charts:

https://whattomine.com/asic
https://www.coinwarz.com/difficulty-charts/bitcoin-difficulty-chart
https://diff.cryptothis.com/


Is Jihan still using his proprietary mining hack to get more coins on bcash than other miners? Or are the only people mining bcash using his algorithm?

Too bad for him the Segwith fork fixed that.
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