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

[Searing]

Ack! Just looked at the price 1 hour ago...now it is going down...damn it....it's all on me...Ack!

(just don't look, it is always a trap!)

Something to say for 'blissful ignorance' and don't look at BTC price for 5 years, just think of all the angst I would have

lessened in the last 1/2 year alone!

Well, at least you don't REALLY need to look at the price anymore... You have been able to retire early. You have already cashed out enough to carry you until you receive your state retirement, social benefits, plus a private pension plan. You still have a stash bigger than most guys here.

You made it FFS!

Just stop always seeing the glass half empty and enjoy your well-deserved retirement, bro!

But, But, first I have to cope with my lack (or soon thereof) of ASIC equipment. The horror! The dismay. 5 plus years gonna have to go 'cold turkey' by Spring 2019.

(Believe it or not, still mining 4-year-old KNC Titans on Fujicoin (FJC) scrypt-N and heating

the house...I lose $25 a month at these prices directly but gain more in the heating of the house this winter, then the $25 loss. all with 12 Titan cubes.

The other 30 cubes are off at the data hall. Shut the hell off. KNC Titans got some major evil

going on, I mean Mordor level evil ...they never seem to die out!)

Anyway,

1) My current ASIC addition is coming to an end! (Ack! The horror! No more LED's and Whirly fan noises in the basement! Ack!)

2) Now I have also had to NOT look at prices this last year for BTC..that used to be a great hobby during the pump, that is taken away from me now as well.

3) Also, I'm having issues with watching the regular economy also, I expect a pretty good recession in the wings.

Yeah, I just have to go full John Steinbeck https://en.wikipedia.org/wiki/John_Steinbeck and retreat from the world completely.

(Hey, you are right, I can do that now, even with my diminished hoard, be like good old John, find an 'intern' (note quotes..snicker) ....

go live in woods...brilliant!

edit: by the by will need this satellite gizmo in the woods...to watch price (er..wait....damn it...the whole point was NOT to look at price!)

https://bitcointalk.org/index.php?topic=2091860.0 Blockstream Satelite Setup

Aw ...frack ..will just keep watching BTC price I guess

BTC is a 'cruel mistress'

[jojo69]

Retirement is severely overrated.
Most people are bored to smithereens and/or become idle.
In fact, being active in your 60ies probably extends life (for man).
I have seen older man declining really fast once they stopped working.
Somehow, this is not true for females, who often stay successfully retired for much longer.

depends what you do

I have had a very physically active work life.  It is time to throttle it back if I want to have joints to enjoy my dotage.

[Biodom]

Interesting statistic:

if you invested in Nasdaq stocks (as a group) at the peak of Internet in 2000, your average yearly returns since then would be 1.33% (much less than inflation).
Nasdaq return since 2000 peak is 28%, official inflation since then 46.4%
That's 19 years of almost nothing (and less than nothing in real terms).
Granted, you started with a bubble, but still, it's 19 years later....

[JayJuanGee]

Strange, did GDAX run out of BTC?  Sell side only showing 150BTC to over 7k USD.   Maybe it's the coinbase inside traders that have been dumping and now caught low on ammo.

Clearly, regardless of price, as time goes on more and more BTC goes out of circulation.

Eventually there will be no BTC left. Only bid side in (unlimited supply) USD. Divide by zero error means price will be infinity.

You will be able to buy the whole universe with just one BTC.

[JayJuanGee]

The only true way I know that we've returned to a bull market is when my friends and coworkers come out of the woodwork to tell me about how they're going to start mining bitcoin with their old GPUs. I still don't actually know anyone else IRL who has ever bought bitcoin as an investment. But they'll spend hours and hours researching how to mine it, despite me telling them that they're wasting their time.

What are you doing then, besides shooting down the ideas of others?



By the way, I am not too much interested in the idea of mining bitcoin, but I can understand why some folks may want to get into mining as a medium to also learn more about the technicals behind BTC.  But, in terms of pure investing, or speculating, it is probably better to develop DCA buy strategies and to use fiat earned in regular life for that and to create a target accumulation, such as 1% to 10% of your investments or some other personally tailored investment goal.

[JayJuanGee]

I am going to guess we continue the pumperino to 4400 after a dumperino to 3980

Would that trigger your stop loss?

[JayJuanGee]

LET IT BE

That is nearly ridiculous logic that you are citing there, mic.  Get your team to help you to see the light.

Recall that in September 2017 bitcoin was in the midst - and even tail end of a bull market, and currently bitcoin seems to be in a bear market, so the price dynamics, and therefore momentum, are much different.

[Biodom]

Strange, did GDAX run out of BTC?  Sell side only showing 150BTC to over 7k USD.   Maybe it's the coinbase inside traders that have been dumping and now caught low on ammo.

Clearly, regardless of price, as time goes on more and more BTC goes out of circulation.

Eventually there will be no BTC left. Only bid side in (unlimited supply) USD. Divide by zero error means price will be infinity.

You will be able to buy the whole universe with just one BTC.

Well, there would be 10^500 -21000000 Universes still ready for the picking with progressively miniscule alts, I suppose.
Prices would decrease, I gather, so just wait until then (best prices)  

[VB1001]

Only good news, fine, we keep forward >>>

Bitcoin Payment Processor OpenNode Gets $1.25M From Investors

https://www.nasdaq.com/article/bitcoin-payment-processor-opennode-gets-125m-from-investors-cm1071687

[JayJuanGee]

Last bear market was there talk along the lines of 'the bottom won't be in till all the altcoins are utterly rekt'?

I understand that you seem to be asking a rhetorical question, but I will answer anyhow, and that answer is:  No. 

So, it raises a decent point about whether such altcoin reckoning is a necessary condition precedent before BTC prices can rise or not?    Seems to me that the answer to my revised question is no, also, even though BTC price dynamics would likely be on stronger grounds for greater upwards movement with such shit coin shakening.... but also seems to wishful to hope for such to occur because the world does not tend to play out with such purism and clarity.   

[Biodom]

Last bear market was there talk along the lines of 'the bottom won't be in till all the altcoins are utterly rekt'?

I understand that you seem to be asking a rhetorical question, but I will answer anyhow, and that answer is:  No. 

So, it raises a decent point about whether such altcoin reckoning is a necessary condition precedent before BTC prices can rise or not?    Seems to me that the answer to my revised question is no, also, even though BTC price dynamics would likely be on stronger grounds for greater upwards movement with such shit coin shakening.... but also seems to wishful to hope for such to occur because the world does not tend to play out with such purism and clarity.   

This time around there would not be complete altcoin reckoning as long as there are funds with low cost basis in those as long as those funds have some positive fiat cash flows.
Some of those funds are highly concentrated in a particular alt (or a small group of them), hence they would defend their initial position(s).

[El duderino_]

WoW , you is saying ..... i am a donkey ?

Yes. Not sure who is Shrek, maybe JJG: "Get the fuck outta my swamp with your altcoins".

so who is the gingerbread man??

[JayJuanGee]

At the actual 2013 peak there were only 40-50 alts in total. XRP and LTC are the only ones still relevant. LTC managed a 98/99% fall. Can't be bothered to think about XRP.

Yeah, alts weren't a thing back in. Whether they went up or down meant nothing.

I swear you are the human incarnation of Donkey.

WoW , you is saying ..... i am a donkey ?

Not a donkey -  "like a donkey."   

[goldkingcoiner]

I am going to guess we continue the pumperino to 4400 after a dumperino to 3980

Would that trigger your stop loss?

Stop loss is at 3855.

Selling at $321359387.21

[El duderino_]

LET IT BE

That is nearly ridiculous logic that you are citing there, mic.  Get your team to help you to see the light.

Recall that in September 2017 bitcoin was in the midst - and even tail end of a bull market, and currently bitcoin seems to be in a bear market, so the price dynamics, and therefore momentum, are much different.

international meeting tomorrow with all of my crew.... big punishment, gonna laid off a few etc all on you JJG
gonna recruit a whole new team, on much more attractive payroll just to make sure you are not annoyed @ any time.



by the way its thursday STFU JJG .........................

[JayJuanGee]

Are we starting to see people FOMO'ing?

Have no fucking idea. I am with my date tonight  and I am confused where should I concentrate more my btc or naked girl laying beside me.

Lets look at this mathematically:

0 BTC + 1 Naked Girl Now = 0 BTC + 1 Naked Girl Later (maybe)
X BTC + 0 Naked Girls Now = X/2 BTC + X² Naked Girls Later

The latter formula reduces itself to:

BTC=2XNG where X is the number of BTC now and NG is whatever it is.
perhaps second variable is needed.

You're right. We can make this a collaborative project.

On a long enough timeline, you inevitably run out of NG 's. Or inverse squared to the xxxx of BTC you have.  

When I was younger, perhaps 5 NG per day might be my outer limit - especially if going on for many days in a row.  However, these days, with more elderly me, probably my tolerance would only be 2-3 NG per day.  

Of course, I am talking mostly theoretical here, because I am sure that rotating NG (meaning new ones each time) would likely be quite more instinctually stimulating than repeatedly same NG (or a smaller selection of NGs).  

This is one of those topics that would be much better for me to take the hit for the WO inquirers here and to personally test, rather than hypothesize.  

[Toxic2040]

There definitely shaping up to be strong correlation with the 2013-2015 cycle as has been noted by many. Have to see how January plays out with taxes and potentially bakkt. A eerily close fit would be on or around Feb. 1st at $2.45k or so. followed with 7 to 8 months of sideways followed with a new Bullrun and ATH. That being said it seems support is strong at the estimated mining profitability range of $3.8k+

I personally think that it will be similar but not exactly the same and hopefully we have seen the bottom already. #dyor


In other news the monthly candle just wicked back to green.

Also the largest transfer of crypto has happened apparently.

https://cointelegraph.com/news/coinbase-moves-5-billion-reports-largest-crypto-transfer-on-record

M

#stronghands2019

[Biodom]

Also the largest transfer of crypto has happened apparently.

https://cointelegraph.com/news/coinbase-moves-5-billion-reports-largest-crypto-transfer-on-record

Those bastards got all that cash/crypto from all of us with their insane 1-1.5% fees.

[WastedLTC]

Also the largest transfer of crypto has happened apparently.

https://cointelegraph.com/news/coinbase-moves-5-billion-reports-largest-crypto-transfer-on-record

Those bastards got all that cash/crypto from all of us with their insane 1-1.5% fees.

That was customer funds, not CB's own coins...

[ivomm]

https://www.wsj.com/articles/first-futures-contract-to-pay-out-in-bitcoin-poised-for-green-light-11545301801

According to the Wall Street Journal:

WASHINGTON—The first futures contract that will pay out in cryptocurrency rather than cash is expected to soon get regulatory approval.

“It’s great to have cash-settle, but there’s a need for physical delivery,” said Kelly Loeffler, CEO of Intercontinental Exchange’s crypto business, Bakkt.

Approval for the futures contract is currently being considered by the Commodity Futures Trading Commission (CFTC).

CFTC laws require all US future contracts to be redeemable for dollars, securities or commodities, but it’s understood the commission will make an exemption to allow the Bitcoin futures contract to pay out in Bitcoin.