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

[lightfoot]

I did a google image search, and I found this article.

Yeah, I think I posted this about being in CNN a few pages back. Or an eternity, same thing.

I am thinking How fucking stupid can you be?  but then, I suppose that there are quite a few folks who bought at the top, and then made a bad situation worse by gambling.  He would not be doing so bad, right now, if he had kept his focus on Bitcoin rather than getting distracted by shitcoins...   Hard to recover, when your principle is only worth about 4% of what you started with?

Either the guy is a liar (possible), a complete idiot (somewhat possible since he isn't drooling in the pic), or... well is a liar. I find it hard to sit down, buy in mid-november, and manage to lose 96% of my initial investment. It's possible he is down 96% from his "paper profits" but that is NOT THE SAME as being down on your original investment. So it went from 100k to 600k and down to 24k? That's a 75% loss, not a 96% one.

More importantly, this article is on CNN, is on the front page (was earlier) and seems to be a bit of CNN trying to drive news about bitcoin. Which is weird, this is NOT bitcoin, and even the guys on Bloomberg on the radio were like "Dude, Bitcoin went down 20%. Who gives a fuck, this is called "Tuesday". But for whatever reason CNN is pushing a wet string.

Maybe we should complain to them and get a more balanced view. Hell, you could say I'm down 66% from my "high" (18k to 6k) but since I bought in at way less than 6k am I really down 66% or up so fucking far I fart rainbows of joy?

Today, I kind of consider my average price per BTC to be in the $650 to $750 range, and the reason that average cost per BTC is not clear is because there is some uncertainty about how much value I should give to BTC, fiat and other token holdings on WEX, especially since they seem to have their own shenanigans going on.. and I am not quite ready to write those coins off.. .. even though their ongoing price shenanigans and their withdrawal freezes are seeming more and more difficult to recover from such negative public image.   i am still hesitant to write off those coins.

I have several tranches of coin values based on when I billed for mining repair work. Some are at $80 (way back in the BFL Single hey I can put more chips on this fucker! days), some are at $600, some 2k, some 14k (got a lot less coin at those prices). If I sell since I did LIFO accounting I have to track and pay CG on the profit or (in this case this year) loss. Same with litecoins, some at $4 (which I sold for bitcoins at 1k I think. Ug-ish) some at 50, some at 100, and some at 250 (I'm taking a haircut on those). But there's no fucking way I lost a lot in this thing.

Anyhow, you can have a lot of fuck ups in BTC, and still retain a certain decent amount of value, and I question myself regarding how much sympathy I want to give to folks who are gambling on alt coins, especially shit, scam and attack vector coins like Bcash and Ethereum.

Indeed. As I said, I think BTrash and Ethereum are coins in bad faith: BTC because it was made as a fuck you to bitcoin and Ethereum when they made that first tweak to bail some yabo's ass out. They deserve to go, but CNN and mainstream media should be going on about the perils of shitcoin, not Bitcoins.

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[JayJuanGee]

ETH is still leading the loss-pack. The pain is increasing.

#BUY BITCOIN

Honestly I think Ethereum will be fine in the longterm, only Bitcoin and Ethereum came out of the US as Non-Securities which I doubt others will be able to do. That's a big fucking deal.

That is a misleading way to give fundamental value to Ethereum and attempt to mentally equate it with bitcoin.... you are likely to get fucked if you really believe that ethereum is even close to bitcoin merely because some government officials want to create an impression of a kind of false equivalency.... Yes, appears that you took the bait.

[JayJuanGee]

I also got a Nano S at the fork. Just recently got a Coinkite Coldcard, it seems much more sophisticated. It can operate it's whole lifetime offline. It has a micro SD slot, you can power up the Coldcard with just an AC USB charger, and sign transactions  (although recent versions of Electrum support it natively). It has a $5 wrench secondary wallet, as well as a 'burnme' PIN.

You mean this one?    https://bitcoinexchangeguide.com/coinkite-coldcard/

Looks like it is around $50.  Was there a 12 or 24 word backup, similar to the trezor, or what happens when you brick or lose or destroy your card?

[Paashaas]

The main selling point of ETH: gone.

The only ''unstoppable'' Dapp is that $100k+ cryptokitty 
 

[Torque]

The main selling point of ETH: gone.

The only ''unstoppable'' Dapp is that $100k+ cryptokitty 
 

You know it's pretty telling when Vitalik and some of his followers spend a whole Twitter thread pondering if ETH even *has* a valid real world use case. Definitely no SoV use case like Bitcoin.

https://twitter.com/VitalikButerin/status/1039534193263296512

[Stevenirving]

Damn young people with their social media and constant instant gratification (says the young person). Y'all need to learn patience!! The coin may drop it may rise. Eventually it will once again break the ath. There is no point flipping out  over the possibility of breaking through the support barrier when that concern is short sighted. Bitcoin is not dead. It's growth and rate of world wide acceptance make it an inevitability. I am fed up with hearing all the whining about the future of Bitcoin. Even if we managed to crash down to some insanely low number for now who cares?

[nanobtc]

JJG, yes, that's it. I think the $50 was a kickstarter deal, they may be more now. The first few production batches were sold out. Yes, BIP39 comparability, seed words, easy (hopefully) to restore to another device in case of disaster. The damn thing comes sealed in a bag that changes color if it's opened, the bag's serial number is in the firmware (tamper-proof, proof).

Much more than I can relay is here:  https://coldcardwallet.com/docs/

I was pretty happy with Ledger Nano S, glad to see ledger-live instead of Chrome extensions. I use it only on several Linux variants, but even on latest updates, the USB comm is messing with something. It's killing X, but the OS is still alive underneath. Chrome extension seems to work fine, but I am leery of trusting Mega-corp.

Little nit-picky stuff on the Nano S?  The whole thing physically is a little 'wiggly'. The buttons don't seem physically robust. I would not expect it to take rough treatment. Nano S also has native Electrum support, but I haven't tried it yet (even though Electrum is my favorite software wallet. Paper has been preferred so far, but it was  hassle to sweep the whole thing to extract shitcoins.

The Coldcard has no moving parts, the buttons are all capacitive (sp?) touch (with adjustable debounce and sensitivity), and a much better/bigger display. I think you can pretty much reset anything/everything on it, unless you use the BURNME PIN, that destroys the device.

I'm happy to see that Coldcard has source code available, and encourages home-grown extensions. That of course opens idiots to someday installing bad custom firmware (BUT THEY SAID IT WOULD CURE CANCER!). Conversely, Nano S pretty much just said "it's all a secret. Trust us".

Disclaimer: I am a hardware wallet newbie. Nano S/Coldcard are my only toes in this water.  There are plenty of others. We are obviously at the tip of the iceberg, on what hardware wallets will someday become. I'm just trying to learn. I don't really need hardware wallets.

[yefi]

The only ''unstoppable'' Dapp is that $100k+ cryptokitty 
 

You forgot what Eth was built for: the ponzi game Fomo3D.

[elrippos friend]

I am watching a tutorial to make a rope knot ...  

Well, I told ya not to sell your precious bitcoins for Bitmain Cash and other shitcoins!

i think not really much BTC hodlers actually SOLD BTC for BCH ..... maybe hodl the free shit
i'm happy unloaded ALL of that shit for BTC

BCH was a coin that was created in what I like to call "bad faith". I stripped my wallets of it and turned it into btc.

Now that I think about it, ETH was also a bad faith coin, I have a bit of ETC because I believed in an immutable chain, not what ETH became....

This man invested in bad faith coins. And paid the price. Pity him. Learn from him.

I did a google image search, and I found this article.

https://money.cnn.com/2018/09/11/investing/bitcoin-crash-victim/index.html

I am thinking How fucking stupid can you be?  but then, I suppose that there are quite a few folks who bought at the top, and then made a bad situation worse by gambling.  He would not be doing so bad, right now, if he had kept his focus on Bitcoin rather than getting distracted by shitcoins...   Hard to recover, when your principle is only worth about 4% of what you started with?

I am not sure how much to pity such a crazy-ass gambling case, as described in the article.

For example, with myself, I bought into bitcoin towards the height of the late 2013 BTC price peak with my first 1.24BTC for $1,500, which is about $1,200 per coin to start with.  But during the initial price fall through 2014, I kept with bitcoin and kept buying BTC incrementally, so the average price of my BTC holdings was about $520, and the price of bitcoin was about $200-ish with some price spikes below $200, so the value of my holdings stooped to below 35% of what I had invested, yet by the end of 2015, BTC price seemed to bottom in the $250 arena, and I made several mistakes, but continued to buy with what I could which brought my average cost per BTC to around $500, which is about 50% losses.

I guess I am thinking that 50% losses, is still way more principle to work with than 96% losses.  When bitcoin recovered I made some more mistakes, including getting phone ported hacked, which caused my average cost per BTC to go up to about $750 per BTC, but I guess I did not have the fucking burden and confusion of multiple alt coins cluttering up my thinking...

Today, I kind of consider my average price per BTC to be in the $650 to $750 range, and the reason that average cost per BTC is not clear is because there is some uncertainty about how much value I should give to BTC, fiat and other token holdings on WEX, especially since they seem to have their own shenanigans going on.. and I am not quite ready to write those coins off.. .. even though their ongoing price shenanigans and their withdrawal freezes are seeming more and more difficult to recover from such negative public image.   i am still hesitant to write off those coins.

Anyhow, you can have a lot of fuck ups in BTC, and still retain a certain decent amount of value, and I question myself regarding how much sympathy I want to give to folks who are gambling on alt coins, especially shit, scam and attack vector coins like Bcash and Ethereum.

Nice and honest story, i beleive he is not the only one who had this story 

[luckygenough56]

every coin on sale today, except btc

[El duderino_]

every coin on sale today, except btc

Luckygenough

[Yaplatu]

every coin on sale today, except btc

Sale or exchange for BTC 

[ivomm]

BTC Dominance: 58.0%

[HairyMaclairy]

every coin on sale today, except btc

Shitcoins are worth shit

[JayJuanGee]

I am watching a tutorial to make a rope knot ...  

Well, I told ya not to sell your precious bitcoins for Bitmain Cash and other shitcoins!

i think not really much BTC hodlers actually SOLD BTC for BCH ..... maybe hodl the free shit
i'm happy unloaded ALL of that shit for BTC

BCH was a coin that was created in what I like to call "bad faith". I stripped my wallets of it and turned it into btc.

Now that I think about it, ETH was also a bad faith coin, I have a bit of ETC because I believed in an immutable chain, not what ETH became....

This man invested in bad faith coins. And paid the price. Pity him. Learn from him.

I did a google image search, and I found this article.

https://money.cnn.com/2018/09/11/investing/bitcoin-crash-victim/index.html

I am thinking How fucking stupid can you be?  but then, I suppose that there are quite a few folks who bought at the top, and then made a bad situation worse by gambling.  He would not be doing so bad, right now, if he had kept his focus on Bitcoin rather than getting distracted by shitcoins...   Hard to recover, when your principle is only worth about 4% of what you started with?

I am not sure how much to pity such a crazy-ass gambling case, as described in the article.

For example, with myself, I bought into bitcoin towards the height of the late 2013 BTC price peak with my first 1.24BTC for $1,500, which is about $1,200 per coin to start with.  But during the initial price fall through 2014, I kept with bitcoin and kept buying BTC incrementally, so the average price of my BTC holdings was about $520, and the price of bitcoin was about $200-ish with some price spikes below $200, so the value of my holdings stooped to below 35% of what I had invested, yet by the end of 2015, BTC price seemed to bottom in the $250 arena, and I made several mistakes, but continued to buy with what I could which brought my average cost per BTC to around $500, which is about 50% losses.

I guess I am thinking that 50% losses, is still way more principle to work with than 96% losses.  When bitcoin recovered I made some more mistakes, including getting phone ported hacked, which caused my average cost per BTC to go up to about $750 per BTC, but I guess I did not have the fucking burden and confusion of multiple alt coins cluttering up my thinking...

Today, I kind of consider my average price per BTC to be in the $650 to $750 range, and the reason that average cost per BTC is not clear is because there is some uncertainty about how much value I should give to BTC, fiat and other token holdings on WEX, especially since they seem to have their own shenanigans going on.. and I am not quite ready to write those coins off.. .. even though their ongoing price shenanigans and their withdrawal freezes are seeming more and more difficult to recover from such negative public image.   i am still hesitant to write off those coins.

Anyhow, you can have a lot of fuck ups in BTC, and still retain a certain decent amount of value, and I question myself regarding how much sympathy I want to give to folks who are gambling on alt coins, especially shit, scam and attack vector coins like Bcash and Ethereum.

Nice and honest story, i beleive he is not the only one who had this story  

I gave whatever little bit of sympathy that might have been warranted, so in essence, boils down to still a DUMB, dumb.. as I already emphasized.  

Deserving this:

[kirreev070]

That is dumb.

Why the fuck is bitcoin being portrayed as equivalent to three other cyptos...   Too misleading, of a pic, in my opinion.

Then it will be more correct

[Totscha]

The only thing that matters is that we are going up! Right, boys?

[wayna]

Ethereum is literally collapsing. The market cap has lost about half of its value.

Shitcoins will reveal themselves for what they are.

Until now, BTC still has a strong wall support, it doesn't go under 6k$.

From December the downtrend is getting milder, I would expect a bull run for the end of year

Considering also the uncertainty of the current financial system, it's possible the price will go up more than expected.

We are facing a stormy period.

[TopTort777]

Then it will be more correct

Who cares, if in the end of the year we will be like this 

[dutchlincoln]

All nice, but i think it is impossible to rate all coins other than bitcoin to be shitcoins.
Also, it's easy said.... shitcoins.
If you do, take an effort in telling wich are not shitcoins.I mean, a few months ago, everyone was wild over etherum (and many still are). Its too easy to call it a shitcoin due to bad weather on the market.

Personally; why shouldn't i set some auto-buys on ETH for a nice low low price.. Divericating my portofolio for a bargain..
I mean: its more likely for eth to do 1500 euros, as it would for Bitcoin to do 53000 euro's, right? Both doing X10 from today. Taken from this point it seems like a safe bet..


If not agree'd thats fine, but tell me why with facts, not opinions pls.