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

[Rampion]

I wish it was a simple crash though, those are not making people to scream "Bitcoin is dead" like it is now the case.

Why? The crashes that make people scream "Bitcoin is dead" are the best crashes. More people screams "Bitcoin is dead", the bigger is the buying opportunity.

I hope the US follows China and "ban" bitcoin soon. I'm one of those who thinks that its pretty much unavoidable at some point, and in fact I'm surprised that it hasn't happened yet.

This game is played in the long run. Anxious to be a multi-millionaire? Then probably you will sell too soon. Ask yourself if you are into this only for the fiat profits - if the answer is yes probably you are into a game that is too risky. If the answer is no, the ban on Bitcoin is just a step needed for it to demonstrate that it is really the resilient, de-centralized currency that will change the world.

If you have been in the game for a few months, I hope you already secured some profits by selling a few coins at a rationally-decided target. If you just entered the game, just hold - we will see where we are in a couple of years.

Grabbing popcorn. Sending fiat to exchanges. Enjoy, gents.
            

Well, I wouldn't like US to ban Bitcoin tbh.

I'm too old to think about changing the world tbh, that's like 15 years ago, I'm here about making the money and that would be shit.

I'm "too old" for many things, but not for wishing the world to change: I have kids, and I'd prefer them to live in a better world.

A lot of people seem to forget that BTC was designed by Satoshi Nakomato to disrupt factual powers and to challenge the people that actually rule the world - the bankers.

He knew that the probability of BTC being banned/attacked was HUGE, and that's why he took so many precautions to remain anonymous. A lot of wanna-be traders seem to forget that and just get excited with their unrealized fiat profits while they day-dream about the Ferrari they will buy next year. Probably Satoshi is laughing at that, while is without any doubt a good thing for BTC viral adoption - there's no better fuel than greed to move human beings.

Of course if BTC finally succeeds there is also a substantial economic reward by being an "early adopter". But this is a dangerous game. If you are not prepared to see BTC banned, BTC holders prosecuted, and/or BTC eventually going to 0 then you don't really understand what BTC is and you probably made a huge mistake investing your time and money in it.

[spooderman]

I don't think it will go much lower anymore in the short term. Even if they sell it to zero in China does not mean that the west would not have competition on who would get the cheap coins. Short term we are very oversold and it is only a liquidity/waking hours issue to go back up. The fact that there is a huge arbitrage coin influx from China dampens it a "little bit", though, but this is already in prices in the west.

The exponential trend (now at $437) was touched, which means that longer term bitcoin is no more overvalued. I regard this as a good entry point and have bought thousands of bitcoins yesterday and today, closing all speculative short positions at a nice profit and gone speculative long with funds I need in 1-2 months.

My last bid in Bidstamp is sitting at 421.42, please somebody sell into it!

Welcome back!

It would be nice if you're right. I think the 300s are gonna get hurt myself.

[traderCJ]

I don't think it will go much lower anymore in the short term. Even if they sell it to zero in China does not mean that the west would not have competition on who would get the cheap coins. Short term we are very oversold and it is only a liquidity/waking hours issue to go back up. The fact that there is a huge arbitrage coin influx from China dampens it a "little bit", though, but this is already in prices in the west.

The exponential trend (now at $437) was touched, which means that longer term bitcoin is no more overvalued. I regard this as a good entry point and have bought thousands of bitcoins yesterday and today, closing all speculative short positions at a nice profit and gone speculative long with funds I need in 1-2 months.

My last bid in Bidstamp is sitting at 421.42, please somebody sell into it!

This just in .. the Chinese care not about your exponential trend line.  I hear you predicted this one.  Either you got lucky or had insider info.  That's the only way to game black swans.  Generally I have found your predictions to be lacking .. that is to say, I generally find myself doing the opposite of what you do and I succeed.  No offense intended.  In this case, I ended up selling in anticipation of more noise from China.  Lucky guess.

[virtualfaqs]

If you buy 100k USD in BTC, and by next April 15 these are worth 1 million USD, will you have to pay ~300k USD to the IRS?

Does it matter whether the IRS considers Bitcoin a "stock" or a "foreign currency"?

This is not legal advice so I'm not held liable if you screw anything up on your taxes.

Most people consider BTC capital assets. You only pay taxes if you sell. So if you sell at 1 million USD and buy back at 1 million USD. Then price drops to $500USD/BTC now. You'll be in big trouble because you'll still have to pay taxes on 1 million USD unless you sell again.

Thanks, but that seems a question people should worry about: "will the IRS (or your nation's equivalent) consider BTC capital or cash?"

Again not legal advice, but IRS has pretty much said "No official classification yet but you still have to pay taxes on it."

[macsga]

I wish it was a simple crash though, those are not making people to scream "Bitcoin is dead" like it is now the case.

Why? The crashes that make people scream "Bitcoin is dead" are the best crashes. More people screams "Bitcoin is dead", the bigger is the buying opportunity.

I hope the US follows China and "ban" bitcoin soon. I'm one of those who thinks that its pretty much unavoidable at some point, and in fact I'm surprised that it hasn't happened yet.

This game is played in the long run. Anxious to be a multi-millionaire? Then probably you will sell too soon. Ask yourself if you are into this only for the fiat profits - if the answer is yes probably you are into a game that is too risky. If the answer is no, the ban on Bitcoin is just a step needed for it to demonstrate that it is really the resilient, de-centralized currency that will change the world.

If you have been in the game for a few months, I hope you already secured some profits by selling a few coins at a rationally-decided target. If you just entered the game, just hold - we will see where we are in a couple of years.

Grabbing popcorn. Sending fiat to exchanges. Enjoy, gents.
            

Well, I wouldn't like US to ban Bitcoin tbh.

I'm too old to think about changing the world tbh, that's like 15 years ago, I'm here about making the money and that would be shit.

I'm "too old" for many things, but not for wishing the world to change: I have kids, and I'd prefer them to live in a better world.

A lot of people seem to forget that BTC was designed by Satoshi Nakomato to disrupt factual powers and to challenge the people that actually rule the world - the bankers.

He knew that the probability of BTC being banned/attacked was HUGE, and that's why he took so many precautions to remain anonymous. A lot of wanna-be traders seem to forget that and just get excited with their unrealized fiat profits while they day-dream about the Ferrari they will buy next year. Probably Satoshi is laughing at that, while is without any doubt a good thing for BTC viral adoption - there's no better fuel than greed to move human beings.

Of course if BTC finally succeeds there is also a substantial economic reward by being an "early adopter". But this is a dangerous game. If you are not prepared to see BTC banned, BTC holders prosecuted, and/or BTC eventually going to 0 then you don't really understand what BTC is and you probably made a huge mistake investing your time and money in it.

+1

[Rampion]

I don't think it will go much lower anymore in the short term. Even if they sell it to zero in China does not mean that the west would not have competition on who would get the cheap coins. Short term we are very oversold and it is only a liquidity/waking hours issue to go back up. The fact that there is a huge arbitrage coin influx from China dampens it a "little bit", though, but this is already in prices in the west.

The exponential trend (now at $437) was touched, which means that longer term bitcoin is no more overvalued. I regard this as a good entry point and have bought thousands of bitcoins yesterday and today, closing all speculative short positions at a nice profit and gone speculative long with funds I need in 1-2 months.

My last bid in Bidstamp is sitting at 421.42, please somebody sell into it!

Only 44 coins on 421.42 Risto? I thought you were a whale

[crazy_rabbit]

I don't think it will go much lower anymore in the short term. Even if they sell it to zero in China does not mean that the west would not have competition on who would get the cheap coins. Short term we are very oversold and it is only a liquidity/waking hours issue to go back up. The fact that there is a huge arbitrage coin influx from China dampens it a "little bit", though, but this is already in prices in the west.

The exponential trend (now at $437) was touched, which means that longer term bitcoin is no more overvalued. I regard this as a good entry point and have bought thousands of bitcoins yesterday and today, closing all speculative short positions at a nice profit and gone speculative long with funds I need in 1-2 months.

My last bid in Bidstamp is sitting at 421.42, please somebody sell into it!

Only 44 coins on 421.42 Risto? I thought you were a whale

Well the bid was filled, so. He's happy now I guess....

[Bzzzum]

I wish it was a simple crash though, those are not making people to scream "Bitcoin is dead" like it is now the case.

Why? The crashes that make people scream "Bitcoin is dead" are the best crashes. More people screams "Bitcoin is dead", the bigger is the buying opportunity.

I hope the US follows China and "ban" bitcoin soon. I'm one of those who thinks that its pretty much unavoidable at some point, and in fact I'm surprised that it hasn't happened yet.

This game is played in the long run. Anxious to be a multi-millionaire? Then probably you will sell too soon. Ask yourself if you are into this only for the fiat profits - if the answer is yes probably you are into a game that is too risky. If the answer is no, the ban on Bitcoin is just a step needed for it to demonstrate that it is really the resilient, de-centralized currency that will change the world.

If you have been in the game for a few months, I hope you already secured some profits by selling a few coins at a rationally-decided target. If you just entered the game, just hold - we will see where we are in a couple of years.

Grabbing popcorn. Sending fiat to exchanges. Enjoy, gents.
            

Well, I wouldn't like US to ban Bitcoin tbh.

I'm too old to think about changing the world tbh, that's like 15 years ago, I'm here about making the money and that would be shit.

I'm "too old" for many things, but not for wishing the world to change: I have kids, and I'd prefer them to live in a better world.

A lot of people seem to forget that BTC was designed by Satoshi Nakomato to disrupt factual powers and to challenge the people that actually rule the world - the bankers.

He knew that the probability of BTC being banned/attacked was HUGE, and that's why he took so many precautions to remain anonymous. A lot of wanna-be traders seem to forget that and just get excited with their unrealized fiat profits while they day-dream about the Ferrari they will buy next year. Probably Satoshi is laughing at that, while is without any doubt a good thing for BTC viral adoption - there's no better fuel than greed to move human beings.

Of course if BTC finally succeeds there is also a substantial economic reward by being an "early adopter". But this is a dangerous game. If you are not prepared to see BTC banned, BTC holders prosecuted, and/or BTC eventually going to 0 then you don't really understand what BTC is and you probably made a huge mistake investing your time and money in it.

+1 - really nice statement/point of view I can agree absolutly with you.

[Sitarow]

[crazy_rabbit]

Well it just keeps getting fucking worse.

[Ivanhoe]

I wish it was a simple crash though, those are not making people to scream "Bitcoin is dead" like it is now the case.

Why? The crashes that make people scream "Bitcoin is dead" are the best crashes. More people screams "Bitcoin is dead", the bigger is the buying opportunity.

I hope the US follows China and "ban" bitcoin soon. I'm one of those who thinks that its pretty much unavoidable at some point, and in fact I'm surprised that it hasn't happened yet.

This game is played in the long run. Anxious to be a multi-millionaire? Then probably you will sell too soon. Ask yourself if you are into this only for the fiat profits - if the answer is yes probably you are into a game that is too risky. If the answer is no, the ban on Bitcoin is just a step needed for it to demonstrate that it is really the resilient, de-centralized currency that will change the world.

If you have been in the game for a few months, I hope you already secured some profits by selling a few coins at a rationally-decided target. If you just entered the game, just hold - we will see where we are in a couple of years.

Grabbing popcorn. Sending fiat to exchanges. Enjoy, gents.
            

Well, I wouldn't like US to ban Bitcoin tbh.

I'm too old to think about changing the world tbh, that's like 15 years ago, I'm here about making the money and that would be shit.

I'm "too old" for many things, but not for wishing the world to change: I have kids, and I'd prefer them to live in a better world.

A lot of people seem to forget that BTC was designed by Satoshi Nakomato to disrupt factual powers and to challenge the people that actually rule the world - the bankers.

He knew that the probability of BTC being banned/attacked was HUGE, and that's why he took so many precautions to remain anonymous. A lot of wanna-be traders seem to forget that and just get excited with their unrealized fiat profits while they day-dream about the Ferrari they will buy next year. Probably Satoshi is laughing at that, while is without any doubt a good thing for BTC viral adoption - there's no better fuel than greed to move human beings.

Of course if BTC finally succeeds there is also a substantial economic reward by being an "early adopter". But this is a dangerous game. If you are not prepared to see BTC banned, BTC holders prosecuted, and/or BTC eventually going to 0 then you don't really understand what BTC is and you probably made a huge mistake investing your time and money in it.

+1, are we forgetting the purpose of bitcoin in the first place people? Ok, no sports cars in the short-term for you guys. Time to work on cool projects and make bitcoin succeed.

[ChefBorjan]

Oh gosh.. about to hit $400 on stamp.

This has got to be near the bottom now right guys... when to pull the trigger....

[keewee]

Well it just keeps getting fucking worse.

Yup, still some big sells coming through!

[sickpig]

I'm a newbie trading wise, so this my dumb question: who's buying all those cheap coin? Because if someone is selling someone else has to buy, no?

[crazy_rabbit]

I'm a newbie trading wise, so this my dumb question: who's buying all those cheap coin? Because if someone is selling someone else has to buy, no?

SHHHHHHHHH!!!!!

Obviously this is the case. However that doesn't make us feel better. :-(

[Krabby]

Usually I would think about buying in, but this does not seem to be following a normal drop.

[Mirsad]

Well it just keeps getting fucking worse.

Yup, still some big sells coming through!

Double Digits incoming.
Sell now and gain much coins.

We will drop very low.

[Buster]

I'm a newbie trading wise, so this my dumb question: who's buying all those cheap coin? Because if someone is selling someone else has to buy, no?

Huge amount of folks who have been waiting since $1k+ for a crash to buy in.

[Parazyd]

This is cleansing.

[traderCJ]

Well it just keeps getting fucking worse.

Yup, still some big sells coming through!

Double Digits incoming.
Sell now and gain much coins.

We will drop very low.

Eh dude you said double digits last time.  Your double digit quota has already been consumed.