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

[jojo69]

that is some serious D you got there homer

I might have to fire the BFL single back up and give you a run

[El duderino_]

via Imgflip Meme Generator

LoL and thx for doing that

[xhomerx10]

Great! Nice little mining setup you have there

Wait! Solo mining? Is that like buying lotto tickets what you are doing there?

 Thanks!  I am solo mining but it's more like heating my computer room than buying lotto tickets - my best ever share was 3.11G when the difficulty was over 7.5T which is still a long way off.  I just like the pretty flashing lights really.  
 I also have a decent computer beside those miners creating Bitcoin vanity addresses and occasionally looking for Bitcoin address pairings (partial collisions) so it gets pretty warm in here.

[xhomerx10]

that is some serious D you got there homer

I might have to fire the BFL single back up and give you a run

 Don't make me get out my Jalapeño...

[nikauforest]

....So, during the bear market, employ your time opening accounts in as many exchanges as you can, verify as needed, learn their UI, etc... During a bull market things happen very fast, and chances are that you won't be able to use that exchange you need to trade some fork/altcoin or use for fiat withdrawal if you have not done your homework well in advance.....

This is great advice.

The bear market will be long and tough to endure, and this is just the sort of work that will be making progress, instead of anxiously watching falling or stagnant prices.

Verification can often be a long process. It is also useful to be familiar with the rules of the exchanges and businesses you deal with.

Yup, and during a bull run is way longer if they are not simply collapsed. Also, for withdrawals, it is also useful THEY know you. And the best for that is having made some deposit to them in the past (and what better moment to do that than in a bear market?).

Exchanges do not like people coming out of nowhere and pretending to withdraw huge amounts of money.

Yea, that is good advice for someone starting out. Bear markets are good for getting your infrastructure set up with exchanges etc. I sold some btc back in the first quarter and I had to go through a whole process explaining where it came from. Everything worked out fine , but definitely take advantage of this time to get set up.

I would appreciate advice on what sort of proofs/documents did they request you to "explain where it came from". It might get handy to get them all ready in advance.

In my case I sold some crypto to Gold Money to get USD. When I did , they asked for proof where I acquired the BTC. In my case it was ok to show proof of mining. I had old KNC and Bitmain receipts. Which they accepted. I also showed proof that I had a Bitstamp account going back to 2013. This was sufficient, although I could have shown more. They were then satisfied.

[Ivor Biggun]

I would appreciate advice on what sort of proofs/documents did they request you to "explain where it came from". It might get handy to get them all ready in advance.

From my experience it was just screenshots of my exchange accounts. It may be different for each person though.

Most big exchanges have a series of questions they sometimes ask. Although they don't always ask them there is always the possibility they will.

These are the questions bitstamp sometimes asks.

That is Bitstamp AML application form
 Banks doesn't ask question like that.
 I think  it's big abuse.  

[El duderino_]

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[Icygreen]

The price for me is cheap enough. I decided several days ago to start buying bigger amounts again and it feels  good to be lowering my average. Could it go down much more? Sure, maybe even 30-40% more but I'd rather be wrong about a bottom than to have FOMO and potentially making poor emotional decisions on the way up like last time. I'm already numb to losing value at this point so some fiat masochism is just fine.

[Hueristic]

 Next Bitcoin moon cycle, I will cash out enough to go to the Dominican Republic then.  I prefer vine-ripened tomatoes so I can only imagine tree-ripened fruit.  The peaches I can buy here are usually as hard as stone when available and the kiwis from Italy are like wood and sour most of the time although I was able to buy some golden variety recently that are pretty darn juicy.

Need M00n for fresh fruit!

You will be glad you did it.

[El duderino_]

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[realr0ach]

If you have not already solved it, a picture would be worth a thousand words

https://www.reddit.com/r/MGTOW/comments/a6nhfi/after_taking_the_red_pill/

[infofront]

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!

It would be worth it just to see the look on my wife's face, if nothing else.

[infofront]

 We could to be just about close to bottom.




1- The 50 Moving Average on the monthly chart has only been tested twice and price never closed under it.
2-The last bear market of 2014-2015 we had almost exactly 85% drop from ATH which meets the target of the current value of the 50MA

I believe we may have to correct "harder" in this bear market than ever before. This is due to the flattening curve in the logarithmic regression line that we seem to be following.



As time goes on, it takes greater corrections to get back to the line because the line is becoming more horizontal.

[El duderino_]

Today is 17 December.  1 year anniversary of peak @$19,683. 

But what Will be its next 17december price ?

Mmmm Maybe thoughts for a NEW game after NEW year
HM giving good ideas

[GHCoins45]

I also have a decent computer beside those miners creating Bitcoin vanity addresses

Is this still a thing?

[realr0ach]

I believe we may have to correct "harder" in this bear market than ever before. This is due to the flattening curve in the logarithmic regression line that we seem to be following.

That would be the scenario like I posted the other day below, which would probably be something like a flash dump to $1850ish then rebound to $2500.  However, it gets pretty comical when most of these big miners have similar costs of production, so a scenario occurring that goes below all of their costs of production and wipes out all these datacenter miners would plunge the price further.  Nobody is going to buy $1850-$2500 bitcoins if all the big miners bankrupted and you can just mine one for like $1000 or less.  Chart comparing previous and current pump and dump:

Did you ever take this scenario into account?

[wayna]

We have a very flat opening this week.

That's curious...

[HairyMaclairy]

Longs on a crowded trade.  Long squeeze?

[realr0ach]

Since this market is boring, here's dumb women posting on Reddit.  Archive before it was deleted:

"Guys never want to commit to me (F20) (self.dating_advice)"

http://archive.is/EEZje#selection-1707.298-1819.424

[birr]

I believe we may have to correct "harder" in this bear market than ever before. This is due to the flattening curve in the logarithmic regression line that we seem to be following.

That would be the scenario like I posted the other day below, which would probably be something like a flash dump to $1850ish then rebound to $2500.  However, it gets pretty comical when most of these big miners have similar costs of production, so a scenario occurring that goes below all of their costs of production and wipes out all these datacenter miners would plunge the price further.  Nobody is going to buy $1850-$2500 bitcoins if all the big miners bankrupted and you can just mine one for like $1000 or less.  Chart comparing previous and current pump and dump:

Did you ever take this scenario into account?

If I may play the devil's advocate, the first step took a little more than a year from beginning of bull, through blow-off top, to capitualtion.
More than two and half years have passed now since beginning of bull on the second step, and we're waiting for the final capitulation.
If there's anything to all the graphs that show square-root, logarithmic historical trends and so forth, that would be in keeping with the greater height of the second step.