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

[BitcoinTurk]

Oh, I am going to do one thing before I sign off for now. Since most people are off work/school today because it’s the weekend, and there should be more people on line than during the week and I have too much merit laying around, the next 5 people to respond to this thread get 30 merit.

Hello there!

[El duderino_]

^
Haha lol

[Kylapoiss]

^
Cool HAT

BULL images are needed

Oh yeah, changed my hat so we can turn this shitty market sentiment around. I still see my old one though.

[LFC_Bitcoin]

Billions of dollars have been spent on mining facilities and building power sources specifically for the mines.  

And those billions of dollars created a temporary, pseudo cost of production floor of around $3k.  Then after an extended bear market hits, many of them will go bankrupt like KNC did, and the temporary price floor will decrease lower. Best case scenario all miners mine at a loss and buy coins that go below their cost of production (not very plausible but whatever) and $3k floor holds.  Worst case, more plausible scenario, lots of big miners go bankrupt like they've always done and price floor drops to something like $2k, $1k, or lower.

r0ach, your ‘expertise’ really would be much more suited to precious metals forums. Go forth & spread your wings!

You’ve done all you can do here!

I do have to say that meme about me from roach.... the one with me in the Mcdonalds suit... i thought it was hilarious

Mic, I laughed (in a good way). Hey, not laughing at you, it will be me too
I nearly Merited him but decided not to

Oh, I am going to do one thing before I sign off for now. Since most people are off work/school today because it’s the weekend, and there should be more people on line than during the week and I have too much merit laying around, the next 5 people to respond to this thread get 30 merit.

Hello there!

Only 7 weeks late bro ha

[El duderino_]

Billions of dollars have been spent on mining facilities and building power sources specifically for the mines.  

And those billions of dollars created a temporary, pseudo cost of production floor of around $3k.  Then after an extended bear market hits, many of them will go bankrupt like KNC did, and the temporary price floor will decrease lower. Best case scenario all miners mine at a loss and buy coins that go below their cost of production (not very plausible but whatever) and $3k floor holds.  Worst case, more plausible scenario, lots of big miners go bankrupt like they've always done and price floor drops to something like $2k, $1k, or lower.

r0ach, your ‘expertise’ really would be much more suited to precious metals forums. Go forth & spread your wings!

You’ve done all you can do here!

I do have to say that meme about me from roach.... the one with me in the Mcdonalds suit... i thought it was hilarious

Mic, I laughed (in a good way). Hey, not laughing at you, it will be me too
I nearly Merited him but decided not to

Oh, I am going to do one thing before I sign off for now. Since most people are off work/school today because it’s the weekend, and there should be more people on line than during the week and I have too much merit laying around, the next 5 people to respond to this thread get 30 merit.

Hello there!

Only 7 weeks late bro ha

Really understand if you would merit that.... the tattoos the name it was hilarious

[IntroVert]

80% down from high, still possible to go further down... just dollar cost average buys, it should work out

Blood on the streets stage approaching and stuff...

[realr0ach]

Looks like the scammers at Bitmain are trying to rig the market above their cost of production now.  This is how you get the long, drawn out bear markets.  They'll do this for months until finally giving up and then it just slowly grinds lower with various miners going bankrupt just like last time.  Now the market is entirely just random slobs trying to profit off forecasting when and where Bitmain will attempt to rig it to.  If you attempt to trade it, you have to figure out if Bitmain actually wants the price to go up, or if they're trying to keep it lower to bleed out competitors first.

[Spaceman_Spiff_Original]

[TheCactus]

commiserations to those that sold at the bottom.  

Oh shit... the major!

the colonel will be alright
his bosses will tell him when to act bullish again

I always assumed you were being paid to post here. Hodl memes all the way down. 

[LFC_Bitcoin]

Looks like the scammers at Bitmain are trying to rig the market above their cost of production now.  This is how you get the long, drawn out bear markets.  They'll do this for months until finally giving up and then it just slowly grinds lower with various miners going bankrupt just like last time.  Now the market is entirely just random slobs trying to profit off forecasting when and where Bitmain will attempt to rig it to.  If you attempt to trade it, you have to figure out if Bitmain actually wants the price to go up, or if they're trying to keep it lower to bleed out competitors first.

r0ach, are you currently invested in bitcoin or do you plan to in the future?

Genuine question, just curious. You don’t have to answer but I’m sure that it’s not just me wondering.

[Elwar]

I have some euro in a German bank that I've been too lazy to get out.

I'll buy bitcoins with them if the price hits $3300. That might give me 2 BTC and I can finally close out that account.

[El duderino_]

commiserations to those that sold at the bottom.  

Oh shit... the major!

the colonel will be alright
his bosses will tell him when to act bullish again

I always assumed you were being paid to post here. Hodl memes all the way down. 

Who would ever pay for hodl Posts on a forum ....?

[evergreendog]

I have some euro in a German bank that I've been too lazy to get out.

I'll buy bitcoins with them if the price hits $3300. That might give me 2 BTC and I can finally close out that account.

Being greedy works both ways.

[TheCactus]

commiserations to those that sold at the bottom.  

Oh shit... the major!

the colonel will be alright
his bosses will tell him when to act bullish again

I always assumed you were being paid to post here. Hodl memes all the way down.  

Who would ever pay for hodl Posts on a forum ....?

Dumpers don't want people selling on top of them. Trolls work both ways.

But I'm not bitter.

[El duderino_]

Spaceman i must say we do not experience a DIP the same

[LFC_Bitcoin]

I have some euro in a German bank that I've been too lazy to get out.

I'll buy bitcoins with them if the price hits $3300. That might give me 2 BTC and I can finally close out that account.

Put it towards a hit man to take out Craig Satoshi Wright, I’ll match it!

[Icygreen]

Ok, fourth leg down since 6.4K... this is beyond ridiculous....

And what worries me the most is that I am not hearing panic screams, nor cryings, nor anything. Are we fucking still in denial phase?

There's no denial, you know why? 20K did not happen with a single hand. The nest has been kicked.  All eyes are on entry points.

[El duderino_]

commiserations to those that sold at the bottom.  

Oh shit... the major!

the colonel will be alright
his bosses will tell him when to act bullish again

I always assumed you were being paid to post here. Hodl memes all the way down. 

Who would ever pay for hodl Posts on a forum ....?

Dumpers don't want people selling on top of them. Trolls work both ways.

Dammit who can i pay next time to HODL, and become Richer Then they do instead of selling there best value asset?
Please pay me BTC’s to HODL
That would be living the ultimate dream

[toknormal]

I really don't believe the fud about hitting 2k, fudsters are out in full force trying to get everyone to dump their coins on the cheap.  I believe bottom was already hit and we will never see those lows again.  There is just too much uncertainty in government currencies for bitcoin not to keep growing.

You under estimate the latitude available to the "price discovery" process.

The market will dump until every last drop of profit is extracted and only die-hard hodlers are left. It's only 20 months since we were at $1k and that level can easily be retested legitimately.

Expect the unexpected.

[realr0ach]

Looks like the scammers at Bitmain are trying to rig the market above their cost of production now.  This is how you get the long, drawn out bear markets.  They'll do this for months until finally giving up and then it just slowly grinds lower with various miners going bankrupt just like last time.  Now the market is entirely just random slobs trying to profit off forecasting when and where Bitmain will attempt to rig it to.  If you attempt to trade it, you have to figure out if Bitmain actually wants the price to go up, or if they're trying to keep it lower to bleed out competitors first.

r0ach, are you currently invested in bitcoin or do you plan to in the future?

Genuine question, just curious. You don’t have to answer but I’m sure that it’s not just me wondering.

I would say bitcoin does not qualify as an investment.  It's not a business, and it's also a currency and not money.  I'd say in current state, it's a centralized, Chinese currency issued by Bitmain, similar to how Chuck E Cheese tokens are issued by the Pizza store.  The only people who should be screwing with currencies are Forex traders or people that actually use them for something.  As in, if you don't use the currency Delta Airline miles for anything, you should not be holding Delta Airline Miles.  Everyone else should either be using real money (silver and gold) instead of currencies or creating/investing in some type of business or something.

Looking at things from a big picture view, it's absolutely astonishing people are trying to portray a currency as a get rich quick scheme when actual money exists with far superior traits (silver and gold).  If anything, the real get rich quick scheme is when the market does it's paradigm shift back from fake money (fiat paper) to real money again (metals).  The only way that's not going to happen is if you make believe the crooked US govt can defeat Russia, China, Iran, Turkey, and dozens of other nations simultaneously in a world war - a complete joke.  Most people in the US will even fight on the side of Russia against their own crooked govt to make it even more laughable.