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

[JayJuanGee]

https://purse.io/investors

It's one of the few places left where you can spend your bitcoins online.

Unfortunately.

I'm to the point of considering ordering a credit card. My Amex was supposed to be only for emergencies but I've racked up plenty of useless sky miles over the past year with it.

Two words: Shift card.

More words: spend your Bitcoin at any place that takes Visa.

Goal of Bcash shills - attempt to get bitcoiners to spend their bitcoins, and trick BTC hodlers into thinking that they are doing some kind of public service (or at least service to the bitcoin infrastructure) by spending their bitcoins.   

Many people realize that spending bitcoin is the same as selling, and frequently for accounting and tax purposes the systems in place, right now, are not very friendly times towards spending BTC - and likely there is a need to replace any spent bitcoins, especially at these prices.

[gentlemand]

https://www.sammobile.com/2018/12/11/exclusive-samsung-bitcoin-app-cold-wallet-cryptocurrencies/

Theorising here that the next Samsung generation will have hybrid cold/ hot wallet built into it.

[Elwar]

https://purse.io/investors

It's one of the few places left where you can spend your bitcoins online.

Unfortunately.

I'm to the point of considering ordering a credit card. My Amex was supposed to be only for emergencies but I've racked up plenty of useless sky miles over the past year with it.

Two words: Shift card.

More words: spend your Bitcoin at any place that takes Visa.

Goal of Bcash shills - attempt to get bitcoiners to spend their bitcoins, and trick BTC hodlers into thinking that they are doing some kind of public service (or at least service to the bitcoin infrastructure) by spending their bitcoins.   

Many people realize that spending bitcoin is the same as selling, and frequently for accounting and tax purposes the systems in place, right now, are not very friendly times towards spending BTC - and likely there is a need to replace any spent bitcoins, especially at these prices.

By getting into the habit of spending your bitcoins it means you need to hold less fiat.

If you're not spending your bitcoins...what do you have that you can spend?

[gembitz]

https://purse.io/investors

It's one of the few places left where you can spend your bitcoins online.

Unfortunately.

I'm to the point of considering ordering a credit card. My Amex was supposed to be only for emergencies but I've racked up plenty of useless sky miles over the past year with it.

Two words: Shift card.

More words: spend your Bitcoin at any place that takes Visa.

Goal of Bcash shills - attempt to get bitcoiners to spend their bitcoins, and trick BTC hodlers into thinking that they are doing some kind of public service (or at least service to the bitcoin infrastructure) by spending their bitcoins.  

Many people realize that spending bitcoin is the same as selling, and frequently for accounting and tax purposes the systems in place, right now, are not very friendly times towards spending BTC - and likely there is a need to replace any spent bitcoins, especially at these prices.

By getting into the habit of spending your bitcoins it means you need to hold less fiat.

If you're not spending your bitcoins...what do you have that you can spend?

bags of fizzy bath salts?...tide pods? yeeee

[angel55]

... who are you that you go trawling through everybody else's business, IRS??

Money is a zero sum game system of control to replace the law of the jungle, so technically it's everyone's business since you have the option to choose whether it's a legit or remotely fair or beneficial system, or a rigged system that does not benefit you, then you can fall back to the law of the jungle and simply take from those who attempt to enslave you.

Great post

I welcome a collapse where money means nothing and all the paper property ownership means nothing.  Money is a way for weak and old people to stay in charge.  Can't believe so many people are brainwashed into thinking it has actual value.

[JayJuanGee]

Of course, bought some when the price dropped from $6k to nearly $3k... and buying small amounts during flat periods, too.  Also, have to keeps some dry power, in case there are more drops.

I guess you, too, have some powder you hope you never have to fire.

Sometimes, it can become confusing regarding how much is "new money" versus money from earlier sales, and I think that I have always been injecting a bit of new money into my whole available BTC dry powder.  Sometimes, also, there is money that becomes needed in real life, and there can be questions about the extent to which that  money is taken from the fiat funds that are supposed to be dedicated to rebuying BTC... .Of course, with the passage of time, fiat cash flow can be used to replenish any of the fiat used sources - but also, large BTC price movements in one direction or another might take a bit of time to figure out what kind of prudent measures might be taken to ensure dry powder being available (and how much)... for example, do I attempt to set buy orders all the way down to 3 digits, or do I believe that $2k is sufficient for extreme scenario?  Three digits would have been "crazy" when BTC prices were largely stuck above $6k, but now those kinds of 3 digit extremes are NOT as extreme... so they have perhaps moved from less than 3% to a probability level that comes much closer to 10%, though 10% does seem high for that kind of extreme, too.

Better would be if we could just reverse from here, but there just seems to be too much ongoing drag that to me, seems to be coming from some of the various valueless altcoins that still have billions of dollars in market cap but hardly any reasonable use case.

Earlier, I did believe that chances were pretty high that altcoins are coming for at least one more upwards ride with bitcoin, but there just seems to be so much ongoing desire to purge a bit more of the froth from those various projects, and cannot really blame "the market" for that, even while bitcoin cannot help but to suffer along with them and the ongoing pulling of the froth from several of the shitcoins..

Top twenty goes down to $244 million in market cap, and top 50 goes to $78 million in market cap.  It is possible that they have been purged enough, but at this point, I am just in an ongoing bewilderment stage that it could take at least 3 months or more (and even 6 months is not unreasonable) to figure out.

[JayJuanGee]

https://purse.io/investors

It's one of the few places left where you can spend your bitcoins online.

Unfortunately.

I'm to the point of considering ordering a credit card. My Amex was supposed to be only for emergencies but I've racked up plenty of useless sky miles over the past year with it.

Two words: Shift card.

More words: spend your Bitcoin at any place that takes Visa.

Goal of Bcash shills - attempt to get bitcoiners to spend their bitcoins, and trick BTC hodlers into thinking that they are doing some kind of public service (or at least service to the bitcoin infrastructure) by spending their bitcoins.   

Many people realize that spending bitcoin is the same as selling, and frequently for accounting and tax purposes the systems in place, right now, are not very friendly times towards spending BTC - and likely there is a need to replace any spent bitcoins, especially at these prices.

By getting into the habit of spending your bitcoins it means you need to hold less fiat.

If you're not spending your bitcoins...what do you have that you can spend?

Just seems like over-investment into bitcoin to me, and bitcoin seems to volatile to invest that much of your wealth into...  but of course, everyone has to figure out his/her own balance level.

Before I came to bitcoin, I had more than 25 years of investing, which also created some kinds of tying into fiat that I was not really willing to tie into bitcoin.  So, even though my initial target was to dedicate about 10% of my quasi-liquid investment (at least how I was evaluating my other investments) into bitcoin, I ended up in the 13% or more territory, in part due to bitcoin's longer than anticipated bear market in 2014 and 2015.. so when BTC prices started to go up, my BTC value allocation went way up, but I still maintained the various fiat investments that generate income.

What I am trying to say, in part, is kind of along the gresham's law lines in that spending fiat related money first seems to be more prudent, to the extent those kinds of cashflows exist. 

I mean, I still feel that I am heavily invested into bitcoin (because of BTC's appreciation), but I have not really felt any real and meaningful needs to dip into BTC cash flows, because I already had established various fiat cashflows that I tend to spend first (which is also largely enough to address all of my ongoing needs).

Don't get me wrong, I am not opposed to spending BTC, and there will likely be some time in the future that I just begin some kind of ongoing practice of regularly cashing out BTC, too... and so in that regard, maybe just some of my luxury is going to go up too... while I understand that there is a certain need to spend money rather than to die with it, so there are going to be those kinds of cashing out desires that continue to provide cashing out justification, too.

I hear people talking about living off of pure bitcoin, and maybe for some people that works, but seems quite volatile and premature for a large number of people, unless you are holding in the 1,000 btc territory... and of course, depends on standard of living too... at these prices, 1,000 BTC is only getting you $3.35 million , so seems like borderline low to be attempting to live off of that in a passive way, especially in western lifestyle, even though I understand that less than a third of that would be passive income functional in other parts of the world (if you are not planning on having some western style expenses from time to time).

[gembitz]

... who are you that you go trawling through everybody else's business, IRS??

Money is a zero sum game system of control to replace the law of the jungle, so technically it's everyone's business since you have the option to choose whether it's a legit or remotely fair or beneficial system, or a rigged system that does not benefit you, then you can fall back to the law of the jungle and simply take from those who attempt to enslave you.

Great post

I welcome a collapse where money means nothing and all the paper property ownership means nothing.  Money is a way for weak and old people to stay in charge.  Can't believe so many people are brainwashed into thinking it has actual value.

in bitcoin weeeee™ trust //;)\\ choochoo™ all abraod!!

[jbreher]

https://purse.io/investors

It's one of the few places left where you can spend your bitcoins online.

Unfortunately.

I'm to the point of considering ordering a credit card. My Amex was supposed to be only for emergencies but I've racked up plenty of useless sky miles over the past year with it.

Two words: Shift card.

More words: spend your Bitcoin at any place that takes Visa.

Goal of Bcash shills - attempt to get bitcoiners to spend their bitcoins, and trick BTC hodlers ...

JJG, you're an autistic knee-jerker. Mind the context, mofo.

[JayJuanGee]

https://purse.io/investors

It's one of the few places left where you can spend your bitcoins online.

Unfortunately.

I'm to the point of considering ordering a credit card. My Amex was supposed to be only for emergencies but I've racked up plenty of useless sky miles over the past year with it.

Two words: Shift card.

More words: spend your Bitcoin at any place that takes Visa.

Goal of Bcash shills - attempt to get bitcoiners to spend their bitcoins, and trick BTC hodlers ...

JJG, you're an autistic knee-jerker. Mind the context, mofo.

My response seems appropriate, yet I am surprised by your level of hostility.

[PoolMinor]

If no one is buying how the fuck the price stay there? Manipulation?

I am serious (this time), no one here seems to be buying right now, much less the "regular" people, so... who is buying to support the price?

No matter what it 'seems', for every seller of a Bitcoin, there is a buyer of a Bitcoin. Sometimes, this fundamental principle seems to escape attention.

What I find most vexatious is how someone is only concerned about price manipulation when it is being held down and not when the price is rising.

Down = Manipulation

Up = Adoption/FOMO/Accumulation.

 

[Biodom]

If no one is buying how the fuck the price stay there? Manipulation?

I am serious (this time), no one here seems to be buying right now, much less the "regular" people, so... who is buying to support the price?

No matter what it 'seems', for every seller of a Bitcoin, there is a buyer of a Bitcoin. Sometimes, this fundamental principle seems to escape attention.

What I find most vexatious is how someone is only concerned about price manipulation when it is being held down and not when the price is rising.

Down = Manipulation

Up = Adoption/FOMO/Accumulation.

 

Oh, that's easy to explain: because the majority is long, not short.
Shorting is psychologically hard for most people. It's the same on the stock market.

[infofront]

https://purse.io/investors

It's one of the few places left where you can spend your bitcoins online.

Unfortunately.

I'm to the point of considering ordering a credit card. My Amex was supposed to be only for emergencies but I've racked up plenty of useless sky miles over the past year with it.

Two words: Shift card.

More words: spend your Bitcoin at any place that takes Visa.

Goal of Bcash shills - attempt to get bitcoiners to spend their bitcoins, and trick BTC hodlers ...

JJG, you're an autistic knee-jerker. Mind the context, mofo.

We're pairing you two up together for third shift at the WO McDonald's.

[HairyMaclairy]

Lack of enthusiasm / bounce at bottom of flag.   Not with a bang but a whimper.   

[infofront]

[JayJuanGee]

If no one is buying how the fuck the price stay there? Manipulation?

I am serious (this time), no one here seems to be buying right now, much less the "regular" people, so... who is buying to support the price?

No matter what it 'seems', for every seller of a Bitcoin, there is a buyer of a Bitcoin. Sometimes, this fundamental principle seems to escape attention.

What I find most vexatious is how someone is only concerned about price manipulation when it is being held down and not when the price is rising.

Down = Manipulation

Up = Adoption/FOMO/Accumulation.

 

Oh, that's easy to explain: because the majority is long, not short.
Shorting is psychologically hard for most people. It's the same on the stock market.

It's not really lopsided feelings at all because there is a certain level of reality that down is manipulated more than UP.  

The fact of the matter seems to be that people who want to push BTC prices down, are going to do so as long as they can, and as much as they can.

The main reason the price goes UP is when the down pushers and manipulators lose control and are no longer able to get the price to continue to go down.

[JayJuanGee]

https://purse.io/investors

It's one of the few places left where you can spend your bitcoins online.

Unfortunately.

I'm to the point of considering ordering a credit card. My Amex was supposed to be only for emergencies but I've racked up plenty of useless sky miles over the past year with it.

Two words: Shift card.

More words: spend your Bitcoin at any place that takes Visa.

Goal of Bcash shills - attempt to get bitcoiners to spend their bitcoins, and trick BTC hodlers ...

JJG, you're an autistic knee-jerker. Mind the context, mofo.

We're pairing you two up together for third shift at the WO McDonald's.

It always seem to happen like that.  Fuck.  I am going to quit this McieD's bullshit (and having to rub elbows with the likes of jbreher for 4 hours) as soon as I can get enough money for my own apartment.  You fuckers.  

[Paashaas]

perfect time to jump into BTC australians .....
#BUYBTC

https://www.news.com.au/finance/economy/australian-economy/house-prices-crash-by-50-per-cent-rba-launches-300-billion-bank-rescue-in-outrageous-forecast/news-story/dfe04760314817d932f6a82c32fd19b6 … @franks_chung

$300b + a nice bonus because they did a good job making profits.

Getting bailed out by the same people   

[alevlaslo]

cheaper will never be, you need to buy now, better altcoins, they will give more xxx

[bitserve]

It always seem to happen like that.  Fuck.  I am going to quit this McieD's bullshit (and having to rub elbows with the likes of jbreher for 4 hours) as soon as I can get enough money for my own apartment.  You fuckers.  

Inb4 jbreher leaves the franchise to run his own burguer place where you can order the TRUE BigMac (XXXXL size - Ronald Mcdonald Vision)