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

[El duderino_]

^
i do trust you on that one and keep increasing my stash

[Toxic2040]

hahahaha

when you have buying the DIP all year

https://twitter.com/cryptochrisw/status/1074135563651989504

LoL

+1 WOsMerit

Heh..its like he knew the broom would be used.

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Still wick-less on the Daily. Probabilities that this could be a swing low are rapidly diminishing.

D

[yefi]

That's why you also don't sell major amounts, such as more than 50 % because you will run out of bitcoin, if you sell too soon in order to sell more.

Exactly. The trick is to have a plan where you're still holding on to something even if it goes to a million. That way you can enjoy the spoils even if the incredible happens and Bitcoin takes over the world in a flash.

[BTCMILLIONAIRE]

I never touch alts because I don’t believe in them. And I can make bad decisions if I don’t believe in what I am trading.

I’ve got a stash of XRP, nowhere near as much as my bitcoin HODLINGS but would be nice to see it moon in the future.

I don't see any considerable ecosystem benefits of various shitcoins pumpening, even if my personal holdings might go up because of such pumpenings.

I understand that it is likely inevitable that several shitcoins are going to pump in the coming years, and that is why we cannot have nice things, and at minimum it will take 20 years for a decent portion of the population to recognize the differentiating value in bitcoin, and more realistically it will take longer than 20 years, perhaps approaching 50 years (I will either be dead or close to dead by then, so if I am posting in this thread, then there is some kind of AI going on or my account has been hacked).   

I don't get why you see the differentiating value and the potential value proposition of altcoins as mutually exclusive. Bitcoin will be the future currency, where equity 2.0 will be given in the form of altcoins that are traded against Bitcoin.

Although I guess the current market makes it extremely hard to see this future, I don't think that altcoins are generally speaking shitcoins. Even if some 99% of them in fact are right now.

Companies won't really be able to tie their equity to Bitcoin due to its volatility, but they could very well fix a shitcoin to their annual, or at some point even real-time revenue, operating costs, profits, inventory, etc., which will vastly improve the tools available to value investors who now have to rely on quarterly reports that may or may not be cooked. Just to name one tiny future niche that will be fulfilled by blockchain eventually.

The amount of shitcoins right now is no different from the amount of shitsites during the dotcom bubble (probably much less since we're nowhere near peak). Doesn't mean that everything was shit. Same story with every bubble, keep an open mind or you'll miss the bigger picture due to the hordes of incompetence, money grabs and outright scams.

[HairyMaclairy]

Hey, don't knock shitcoins. Tribalism aside, Bitcoin would be nowhere without them. Precisely no---where. Anyone who's ever followed correlations between dominance and BTC price will have seen that by now.

For that reason, I promote shitcoins to bitcoiners and bitcoin to shitcoiners. They don't like it but they need to swallow it

You really need to learn the difference between correlation and causation.

[BTCMILLIONAIRE]

That's why you also don't sell major amounts, such as more than 50 % because you will run out of bitcoin, if you sell too soon in order to sell more.

Exactly. The trick is to have a plan where you're still holding on to something even if it goes to a million. That way you can enjoy the spoils even if the incredible happens and Bitcoin takes over the world in a flash.

I'd keep a "long" stash completely separate from the cash-out and trading stashes and never touch it until Bitcoin stops doing its wild waves.

[BTCMILLIONAIRE]

Hey, don't knock shitcoins. Tribalism aside, Bitcoin would be nowhere without them. Precisely no---where. Anyone who's ever followed correlations between dominance and BTC price will have seen that by now.

For that reason, I promote shitcoins to bitcoiners and bitcoin to shitcoiners. They don't like it but they need to swallow it

Bitcorn dictates the price. Shitcoins are just Bitcoin money flowing into shitcoins and then back. Alts would be nowhere without Bitcoin, which doesn't mean that they won't serve a multitude of roles in the future. Without alts Bitcoin would simply become the denominator for stocks, bonds, and whatnot.

[Saint-loup]

FAANG are also falling since this summer...

[bitserve]

Ok, from the poll it seems that most people thinks we have not yet reached the bottom. So... maybe we have?

I would say all the weak hands are already gone. I would be more worried about weak whales now.

Talking about whales... it has been some time since Bitcoin doesn't have any new whale, has it?

I mean, people like Tim Draper during the past bear market, etc....

Any new one this year?

[Toxic2040]

More light reading. Perhaps the last paper was a bit too esoteric. Imagining the whole Universe as a blockchain...pfft...the nerve.(My interpretation, not the author's.)

https://medium.com/@willemvandenbergh_85885/on-schelling-points-network-effects-and-lindy-inherent-properties-of-communication-c4eb69b55c60

https://medium.com/@laurentmt/the-yin-and-yang-of-bitcoin-bf056f3fd58c


And something different, fun at 264,000 feet. Weeeeee

https://twitter.com/JPMajor/status/1073632072474988544

[Dig Bicks]

Ok, from the poll it seems that most people thinks we have not yet reached the bottom. So... maybe we have?

I would say all the weak hands are already gone. I would be more worried about weak whales now.

Talking about whales... it has been some time since Bitcoin doesn't have any new whale, has it?

I mean, people like Tim Draper during the past bear market, etc....

Any new one this year?

I heard George Soros has been dabbling in the crypto markets.

[Ludwig Von]

Hey, don't knock shitcoins. Tribalism aside, Bitcoin would be nowhere without them. Precisely no---where. Anyone who's ever followed correlations between dominance and BTC price will have seen that by now.

For that reason, I promote shitcoins to bitcoiners and bitcoin to shitcoiners. They don't like it but they need to swallow it

Bitcorn dictates the price. Shitcoins are just Bitcoin money flowing into shitcoins and then back. Alts would be nowhere without Bitcoin, which doesn't mean that they won't serve a multitude of roles in the future. Without alts Bitcoin would simply become the denominator for stocks, bonds, and whatnot.

And that is why shitcoins are only parasitic inflation on bitcoin. And all the hassle caused by their promotors only has dammaged the value of BTC as an asset, or store of value outside of the mainstream system. So now, here we are, bruised and bottoming every day, week lower, until  we will be a note in history. I see more value in the physical bottom in my house than ever now... .  

[Dig Bicks]

By the way, we're having a terrific NY party, and we offer nice welcome perks: open bar for ATH's!
Just in case you're considering...

He is definitely not coming. Couldn't make it. He has sent us some Xmas gifts though:

I want this under my tree Santa!

 

[byebyehi]

By the way, we're having a terrific NY party, and we offer nice welcome perks: open bar for ATH's!
Just in case you're considering...

He is definitely not coming. Couldn't make it. He has sent us some Xmas gifts though:

Is the bottom in? No we can go deeper

[toknormal]

And that is why shitcoins are only parasitic inflation on bitcoin. And all the hassle caused by their promotors only has dammaged the value of BTC as an asset, or store of value outside of the mainstream system. So now, here we are, bruised and bottoming every day, week lower, until  we will be a note in history. I see more value in the physical bottom in my house than ever now... .  

Sounds like the man in the traffic jam complaining about the traffic.

[byebyehi]

Looks like a lot of monero shitcoin shillers are in this thread as well. Guess they are too blind to see that shitcoin is dying a slow painful death, very low trading volume and it is already inflated by wash trading.  Barely anyone even cares about the privacy features either.  STICK WITH BITCOIN FUCK THE SHITCOINS

[Biodom]

as long as it was inspired by anna kendrick above the chart...

Why would we take off vertically from here?
In any case, there should be some selling anywhere between 15-20K.

[Biodom]

Say, you guys KNOW some good looking and open minded chicks, I gather.
I am a bit jealous.

[toknormal]

Looks like a lot of monero shitcoin shillers are in this thread as well. Guess they are too blind to see that shitcoin is dying a slow painful death, very low trading volume and it is already inflated by wash trading.  Barely anyone even cares about the privacy features either.  STICK WITH BITCOIN FUCK THE SHITCOINS

That is a very short sighted philosophy.

You should see them as complimentary. If crypto was an undiversified market with a bitcoin as a monopoly it'd be as dead as a doornail. There'd be no hedges, no sector-specialised entry points, a million "Nouriel Roubinis" waving goulish scare scenarious at you that could never be field tested and no subsidiary industry to "buffer" the capital transiting in and out of the  asset. Why is BTC not sitting at $500 right now ? Because it's being buttressed by Altcoin capital.

Altcoins probably attract far more value into bitcoin that what they take away. In fact many maximalists openly state that alts are "just a way to earn bitcoin" - hey ! they might be finally getting it.

P.S. Regarding Biodom's T/A above, I am of the "springback" view as well. Have been for a while due to the sharp correction we took shortly after the 20k peak. Given that there'd been a year of bubble building ( as opposed to 3 weeks like in 2013/14) I thought we over corrected. Add to that the Craig Wright "dumps" distorting everything, I wouldn't be surprised to see the "springback" scenario occuring.

[Ludwig Von]

And that is why shitcoins are only parasitic inflation on bitcoin. And all the hassle caused by their promotors only has dammaged the value of BTC as an asset, or store of value outside of the mainstream system. So now, here we are, bruised and bottoming every day, week lower, until  we will be a note in history. I see more value in the physical bottom in my house than ever now... .  

Sounds like the man in the traffic jam complaining about the traffic.

Not a good comparison, but I give you the freedom of thinking so... .
Does not unground my proposition : the whole alt- fork- shitcoin circus is the ill, virus or any other name you want to give it. And that and exactly that makes the Dimons, or demons and Blanksteins laugh now.