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

[lightfoot]

if you don't have a lambo .... than just sell the car that you do have and buy the same 6K bitcoins .... and buy it back with the same BTC dust

 

But if you did that in January you would still be hitchhiking today.

This is why the rich get richer, they can hold during bear markets.

What I need to do is get off my lazy butt and work again. For (devalued) bitcoins.

[4rt3m]

[Majormax]

This chart seems to suggest the bottom will be reached (around 70% lower from here = $1500) in mid 2019. That would not be good news.

I am inclined to agree with the timing, but I think (hope!) the price will not get below $2500

[bitserve]

https://medium.com/s/story/combat-tested-training-unwind-and-sleep-anywhere-in-120-seconds-27d5307b7606

Now just keep doing that for the next two/three years. Profit.

[slowlyslowly]

This chart seems to suggest the bottom will be reached (around 70% lower from here = $1500) in mid 2019. That would not be good news.

I am inclined to agree with the timing, but I think (hope!) the price will not get below $2500

Can you explain to me how you get to that figure from the chart ? I am not doubting you just don't see it .

[realr0ach]

I sat through a monetary policy and future-of-finance lecture a couple of months ago which touched on crypto.  The lecturer mostly knew his stuff on crypto but not in as much details as many of us here.

The #1 problem in craptocurrency is that 99% of people are trying to sell you something and will lie their asses off to try and make it happen, whether it's Eth, Bitcoin, or anything else.  So, it doesn't really matter what people "know", because they're just going to lie to you anyway.  Harry Dent "knows" a lot, yet he's a state funded actor to try and prevent people from using any monetary instrument except the US dollar, and is going to lie till the cows come home to try and accomplish that task.

The only truth about any of this shit comes from people who aren't trying to sell you something or attempting to make a career out of it.  Like when Buttalik said something obviously true, that bitcoin is nothing more than a 3 of 5 multisig, then he releases an even worse, more centralized coin two minutes later while partnering with Goldman Sachs to allow them to buy up and corner the premine, making it entirely a Goldman Pyramid scam and invalidating anything he ever said before.

Everyone also knows the perma-bulls like Marcus are completely full of shit.  He's never admitted to bitcoin having a single flaw at all and pretends it's some type of deity idiots should worship as a god.  Those people are just trying to pump and dump scam you.  The only people who are telling any type of truth about this crap are people like me, sometimes Peter Todd, sometimes FluffyPony, Smooth, *sometimes* people like Anonymint. Anonymint wants to make a career out of this nonsense and release his own coin, so he falls under the category of people trying to sell you something whether he will admit it or not.  

Then you have people like Luke Jr and Gmaxwell that are far too emotionally/career invested in this stuff and instead of just admitting it's not possible to create a decentralized digital currency, that this stuff is always designed to centralize, that everyone should boycott this garbage and go back to physical metals because bitcoin is only going to be a centralized system of control and enslavement, they just say nothing and pretend the unfixable problems are somehow going to fix themselves.  This is the standard god complex that every programmer has:  that there is no problem that can't be solved, shoddily hacked, or worked around.  Let me save you the time - it is not possible to create a decentralized digital currency.

[marcus_of_augustus]

bitcoin is currently undergoing it's last great accumulation phase ... so far we have had around 4 or 5 of these, depending on how you do the math on those crazy times when bitcoin was ripping from 0.1 cents to $32 ...   those were the real crazy days guys ... anyway back to the present we now have the largest financial entities on the planet, NYSE, Goldman, UBS, etc trying to figure out what their "bitcoin strategy" is going to be, and this is in the next 1 to 2 years max ... not 5-10 year, note this is a full 5-7 years after the cypherpunks suggested these guys needed to develop a bonafide bitcoin strategy or get left behind.

So the various fudsters, scam artists and goldbugs are trying to sell you something and keep you out of the greatest monetary revolution in 500 years are lining their pockets, telling lies and shilling for frauds, pyramids and ponzis, will always show up here to stop you filling your boots in this last great accumulation, like every other time the easily deceived millions have gotten left behind when the inevitable next adoption wave comes rolling over. The market forces swelling up beneath bitcoin valuations are unstoppable, like a tsunami coming ashore in ever greater tidal pressure waves, the financial incentives and energy behind bitcoin are vast, on global and intergenerational scales in space and time. Fighting against them is the ultimate in an exercise in futility and stupidity.

Once the largest financial pools of global capital are completed hedging themselves from monetary risks with the first true global currency, bitcoin, then the extreme volatility and large adoption waves phase will be over ... there just doesn't exist the capital on the planet to create such conditions again. Your children, grand-children or descendants for 5 generations will never see what you are witnessing in these times. Bitcoin value will keep climbing steadily after this last great run, and maybe volatile but once a large portion of global capital is engaged in bitcoin as a monetary instrument the times of massive gains and extreme volatility will be largely behind us (save for some contrived scares and mini-bubble hypes). Bitcoin value will then begin to come more attached to the underlying economic activity executed using the deflationary coin (all hodlers benefit from economic and technological advances in bitcoin-denominated businesses). Bitcoin's already impressive decentralised and robust nature will only increase after the great adoption waves are finally subsiding and mining will become more widely distributed globally and into smaller more distributed devices as the mining chip technology reaches state-of-the-art, commoditised, leading edge maturity.

This is your time people, fill your boots or doom your descendants to also ran status ( you should be able to pick some up all the way down to ~$2500 in the next 18 months with good timing and preparation, anywhere below $5k is a steaming hot buy and hodl). See you at $300k in 2025.

[Elwar]

This chart seems to suggest the bottom will be reached (around 70% lower from here = $1500) in mid 2019. That would not be good news.

I am inclined to agree with the timing, but I think (hope!) the price will not get below $2500

Perhaps you meant $15,000?

[xhomerx10]

[Searing]

Alas, at last years BTC prices...I could afford them. (ie...keep them in the lifestyle such 'trophy girlfriends' require.)
 

er NOW...not so much...can't afford the lifestyle of a female sales clerk at J.C. Penny.....


the universe is 'cruel'


alas...

[Paashaas]

Core dev Cory Fields saved Bcash from collapsing....

https://medium.com/@coryfields/http-coryfields-com-cash-48a99b85aad4

[lightfoot]

er NOW...not so much...can't afford the lifestyle of a female sales clerk at J.C. Penny.....


the universe is 'cruel'

Remember my friend, you don't pay for them to come into your life.

You pay them to leave.

Very important to always remember this.

[mymenace]

bitcoin is currently undergoing it's last great accumulation phase ... so far we have had around 4 or 5 of these, depending on how you do the math on those crazy times when bitcoin was ripping from 0.1 cents to $32 ...   those were the real crazy days guys ... anyway back to the present we now have the largest financial entities on the planet, NYSE, Goldman, UBS, etc trying to figure out what their "bitcoin strategy" is going to be, and this is in the next 1 to 2 years max ... not 5-10 year, note this is a full 5-7 years after the cypherpunks suggested these guys needed to develop a bonafide bitcoin strategy or get left behind.

So the various fudsters, scam artists and goldbugs are trying to sell you something and keep you out of the greatest monetary revolution in 500 years are lining their pockets, telling lies and shilling for frauds, pyramids and ponzis, will always show up here to stop you filling your boots in this last great accumulation, like every other time the easily deceived millions have gotten left behind when the inevitable next adoption wave comes rolling over. The market forces swelling up beneath bitcoin valuations are unstoppable, like a tsunami coming ashore in ever greater tidal pressure waves, the financial incentives and energy behind bitcoin are vast, on global and intergenerational scales in space and time. Fighting against them is the ultimate in an exercise in futility and stupidity.

Once the largest financial pools of global capital are completed hedging themselves from monetary risks with the first true global currency, bitcoin, then the extreme volatility and large adoption waves phase will be over ... there just doesn't exist the capital on the planet to create such conditions again. Your children, grand-children or descendants for 5 generations will never see what you are witnessing in these times. Bitcoin value will keep climbing steadily after this last great run, and maybe volatile but once a large portion of global capital is engaged in bitcoin as a monetary instrument the times of massive gains and extreme volatility will be largely behind us (save for some contrived scares and mini-bubble hypes). Bitcoin value will then begin to come more attached to the underlying economic activity executed using the deflationary coin (all hodlers benefit from economic and technological advances in bitcoin-denominated businesses). Bitcoin's already impressive decentralised and robust nature will only increase after the great adoption waves are finally subsiding and mining will become more widely distributed globally and into smaller more distributed devices as the mining chip technology reaches state-of-the-art, commoditised, leading edge maturity.

This is your time people, fill your boots or doom your descendants to also ran status ( you should be able to pick some up all the way down to ~$2500 in the next 18 months with good timing and preparation, anywhere below $5k is a steaming hot buy and hodl). See you at $300k in 2025.

Great read, exactly what it all looks like

A lot of tears coming, we all gonna get rogered

Whale below knows whats going on, of course he does, when he dumping

[JayJuanGee]

I think that your memes made your point pretty well, even though I disagree with the concept of shorting bitcoin, especially after it already experienced nearly a 30% dip within about 2 weeks. It neither seems to be a good personal strategy nor good for bitcoin... yet I understand that personal strategy might be the only one that matters to a lot of people who just want to make money, but even on that basis, it seems a bit of a gamble to bet on DOWN after a relatively fast correction.

 On the other hand, if someone had been betting on DOWN when the price went up 30% in almost the same amount of time, that would have seemed to like a more practical and realistic bet (even though I personally don't engage in any kind of margin trading of bitcoin).

You was white about price. Now bitcoin growing.

Odds are about in the 50/50 territory that I will be right at any given time, and so I am not really making any bets, except to buy  as the price goes down and to sell as the price goes up.

Furthermore, I rarely change my bets based on my own personal perceptions about price direction and whether I think that it is probable that we are at the bottom or the top.  For example, if I have orders to buy $100 worth of bitcoin for every $200 that the price drops, there might be times that I change my orders by 10% or so in either direction.. so if I think that the price is dropping a lot, I might change them to $90 each, or if I think that we are reaching the bottom, I might change them to $110 each (something relatively small and incremental like that).

[Searing]

if you don't have a lambo .... than just sell the car that you do have and buy the same 6K bitcoins .... and buy it back with the same BTC dust

 

But if you did that in January you would still be hitchhiking today.

This is why the rich get richer, they can hold during bear markets.

What I need to do is get off my lazy butt and work again. For (d
revalued) bitcoins.

I retired in Jan when BTC was at least 2x as now. I should likely do the same..go back to work....the problem is:

1) working with idiots. (that was a relief retiring)

2) the pay seems to not be following, what they expect from you on the job. *massive understatement*

So currently it is a NAW. I 'suppose' if I found something before it hit the want ads and/or such...perhaps it might make sense

for the right job/pay/boss...but you don't hear of those...they get snapped up pretty quick...never make public view.

Naw, will burn all my altcoins and all my BTC if it comes down to it....to stay retired the next 2 years till 65. Then will be available

for Medicare and that last year till 66 and full retirement I can use the 70k work 401k to tide me till 66 years and full boat retirement.

....Assuming my altcoins and bitcoins (ack....

my precious....) last that long. Was planning in Jan for it just to be altcoins..that is getting iffy

Again, my 'guess' that I'm going with is at this moment in the USA 'everything' is a bubble. I hope BTC has blown its bubble and is done

and acts like a store of value in a recession and goes sideways or up...and of course BTC and alts goes no lower

then 2x the amount it was last year in BTC (adding BCH value as well)...with the same ratio for my altcoins...this is the bottom...

If so...I expect a pretty 'good sized' recession in the next, with the regular investments in the next

1-2 years. A normal recession is like a 20% correction..me....planning on a 40% to 50% hit on traditional investments outside of crypto.

Thus, assuming I don't bust my ass and have medical issues and debt (no debt now) even if the crypto angle and above is as bad as

I suspect..ie same 35k lifestyle and no debt thru 66 years and beyond (with soc sec at 66 and Medicare at 65) so big 'yawn'.

But again, get your ducks in row folk. IMHO, attic mine crap in the attic sell on eBay for crypto, lessen debt....because it is gonna

haunt you when it all goes to pieces this next recession (been thru 4-5 recessions) thus you look back at all the signs and say such epic

things as 'why the hell did I get a new car? etc....again, IMHO, we are due...and when the tax cut parties are done....blamo...

hope I'm wrong. (likely wrong with my economic term of blamo) but if I'm wrong I'll simply have MORE income than I expected.....thus

my logic....win/win

denial...and delusion is how I cope in the world (tm searing)

later

brad

er NOW...not so much...can't afford the lifestyle of a female sales clerk at J.C. Penny.....


the universe is 'cruel'

Remember my friend, you don't pay for them to come into your life.

You pay them to leave.

Very important to always remember this.

good point.....

[JayJuanGee]

I'm no chart expert but I've followed this thread long enough to know that a double bottom is a good thing.




So...

double bottom pics please

Haven't we visited the $6k "bottom" range about 4 times in recent months?  Since February, right?  That is quadruple bottom.

Instead of lambos, we are getting lamb bottoms?  Fuck.

[lightfoot]

Eh. My opinion on the nature of bitcoin, the recent trials, turbulation and tribulation in the markets, and my thoughts on the future of this coin can be summed up in the following image:

[stoat]

Looks like 0xBTC is pumping today

https://coinmarketcap.com/currencies/0xbtc/#markets

[Elwar]

I'm no chart expert but I've followed this thread long enough to know that a double bottom is a good thing.




So...

double bottom pics please

Haven't we visited the $6k "bottom" range about 4 times in recent months?  Since February, right?  That is quadruple bottom.

Instead of lambos, we are getting lamb bottoms?  Fuck.

We hit $5.8k twice. That was the long term double bottom.

The medium term (this past month) double bottom was at $6.2k.

[jojo69]

...inspirational treatise...

You left out the part where central banks will be forced to hold BTC as reserves.  A minor oversight, but I think it bears a mention.

bravo sir