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

[mindrust]

JFC! When I just saw you came back I took that as a bullish signal. I remember you were wise enough to convert all (or most) of your alts into BTC at the end of the bull market raising your BTC count to a whooping 50. I was not that wise and.... you know what happened to most alts. What did you do with your 50BTC? Did you rebuy into alts?

Same as you. I converted some. Most of it remained in the same alts, which I watched every month starting March 2018 ... all the way to December 2018 ... and you don't catch falling knives.

Admittedly, they were in alts that either had stakes or some sort of return, those I did convert to BTC every month (every week) and then converted those to fiat, to pay for everything. And it was fine and dandy until around September or October, but I still kept HODLing.

With the exception of the coins I lost to the two exchanges dying, all my other alts still have the same alt value, just not the same BTC or USD value.

While I still believe in BTC, the alts had "interest" so to speak, so I was living off of that. Now I can't, and I got some debts which I am having difficulty paying, (kinda foolish, should have zero'd them all out at least), and next week, I start a normie job working for some company.

I still keep my alts, and hopefully, the combined income from the job and the alts will enable me to keep my head above the water long enough until the whole crypto (BTC and everything else) starts going up. Seems we have hit bottom, and while any lower will hurt, ... we're going to bounce soon.

Wow that story is very sad. Stay strong brother... stay strong.



Seems like the FOMO has taken a hold on you last year because alts were mooning a lot harder than BTC and you couldn't resist.

Coincidentally, today I was checking this website: https://athcoinindex.com/

There are many shitcoins which lost more than %95 of its value and I believe there are shitcoins which can do x50 or even x100 during the next bull run. I am considering to buy some of those shitcoins nowadays.

While I am deeply sorry for your losses  and I can empathize with you (me was always in btc %95+ though, means i lost only %80-85 instead of %95) these type of posts are the ones we call "blood in the streets". And a buy signal.

[Majormax]

This sideways on the lower range is absolutely nerve crushing. I am trying hard to forget about Bitcoin for a while and just go on with my life as I did last time, but I can't avoid coming back to check how it is doing. I don't remember the last bear market to be so hurting. If/when we ever get pass it a new generation of really hardened hodlers will be born. Harder than ever.

The last bear market felt just the same. When you can not be bothered to look for months at a time and have genuinely given up, that is when the new bull will gradually start. You won't see it happen because you won't be looking. It is a great indicator.

I believe this bear will be longer than the last one. Apologies for the bad news, but I think it's best to be realistic.

[xhomerx10]

~snip~

On xhomerx10's advice, I tried to make a hat for you. After reading your publication history, I thought that you love Bitcoin and alcoholic beverages. You have good taste! At first I wanted to make a beer, but I still did not know if you like it. I slightly corrected the idea of xhomerx10.

What say about this hat?





 

Avatar:

 Well that's pretty darn good!  What manner of beverage is that with the Bitcoin slice on the glass?

[Globb0]

Rise and shine. The future of Bitcoin


https://twitter.com/Cripto_nautas/status/1092095758252294145/photo/1

Just don't hold on too long

[JayJuanGee]

[edited out]

JFC! When I just saw you came back I took that as a bullish signal. I remember you were wise enough to convert all (or most) of your alts into BTC at the end of the bull market raising your BTC count to a whooping 50. I was not that wise and.... you know what happened to most alts. What did you do with your 50BTC? Did you rebuy into alts?

That seems to be part of the problem of getting into alts in the first place.  It takes a certain amount of a gambling mentality to think that you can "use" alts in such a way that you can figure things out.  And, we know what tends to happen to a vast majority of gamblers.  They keep doubling down and employing various strategies that are likely going to bite them in the ass if they don't keep real tight reigns on such inclinations.

Not picking on Dabs because there continue to be a lot of alt dabblers (pun not intended) out there who are playing with the same kind of alt gambling fire.

[kurious]

Wish I was there - cold and freezing rainy here today!

Cold builds character. Cold people will beat hot people every time, because we have to work and be resourceful to feel good, not just fall back on the ground for a suntan.

disclosure: it is also cold and freezing here 

 I feel stronger and paler simply having read this post.

Hey old chap - many thanks for the hat upgrade!  A bunch of inadequate tokens as a mark of respect.

[xhomerx10]

Wish I was there - cold and freezing rainy here today!

Cold builds character. Cold people will beat hot people every time, because we have to work and be resourceful to feel good, not just fall back on the ground for a suntan.

disclosure: it is also cold and freezing here 

 I feel stronger and paler simply having read this post.

Hey old chap - many thanks for the hat upgrade!  A bunch of inadequate tokens as a mark of respect.

 Appreciation alone will always suffice!   Glad you like it

[Dabs]

THX for the lesson to show again never to invest more than 10-20% of crypto-portfolio into alt's................
mainly keep it in BTC

but indeed HODL

It depends on the alt. Have to do a lot of research. As much as almost everyone here hates ETH, if you had just bought into the ICO in 2014 with 1 BTC, you would have 2000 ETH. (or if you got in with 10 BTC, you would have 20k ETH.) Then all you'd have to do is sell half at the top, keep the rest for the future.

Which is probably true of a lot of alts in 2017-2018.

There are now so called stablecoins ... the correct strategy these days would be to get collateralized debt positions on them, cash out to fiat, buy whatever you wanted to buy, and slowly pay it off (as the rate is some absurdly low 0.5% per year or something.) ... But they're all in alts, not in BTC, so ... a little work to get it done.

Wow that story is very sad. Stay strong brother... stay strong.



Seems like the FOMO has taken a hold on you last year because alts were mooning a lot harder than BTC and you couldn't resist.

Coincidentally, today I was checking this website: https://athcoinindex.com/

There are many shitcoins which lost more than %95 of its value and I believe there are shitcoins which can do x50 or even x100 during the next bull run. I am considering to buy some of those shitcoins nowadays.

While I am deeply sorry for your losses  and I can empathize with you (me was always in btc %95+ though, means i lost only %80-85 instead of %95) these type of posts are the ones we call "blood in the streets". And a buy signal.

It is. We still don't know if this is bottom, but it's low enough for all practical purposes in the long term.

[madnessteat]

Well that's pretty darn good!  What manner of beverage is that with the Bitcoin slice on the glass?

Thank you, xhomerx10. I think that the drink is a real holder BTC. (rum or whiskey)

[JayJuanGee]

~snip~

On xhomerx10's advice, I tried to make a hat for you. After reading your publication history, I thought that you love Bitcoin and alcoholic beverages. You have good taste! At first I wanted to make a beer, but I still did not know if you like it. I slightly corrected the idea of xhomerx10.

What say about this hat?

Looks like the beginning of decentralized hat making.  A kind of competition point for homer. 

All good things must come to an end, including hat-making monopolies.   

[600watt]

Mt.Gox:

Unconfirmed Cointelegraph: CoinLab Increases Mt. Gox Claim from $75 Million to $16 Billion

https://cointelegraph.com/news/unconfirmed-coinlab-increases-mt-gox-claim-from-75-million-to-16-billion?

Cryptoglobe

https://www.cryptoglobe.com/latest/2019/02/coinlabs-mt-gox-claim-jumps-from-75m-to-16-billion-freezing-restitution/

Perhaps, even the willingness for the court to delay disbursements based on these kinds of outrageous adjusted claims, there is some lacking in good faith for the court to actually accomplish justice to reimburse and disburse claims to legitimate claimants?

Peter Vessenes is such an incredible a..ho.e .  claiming 25% of btc marketcap, what a shitshow.

[600watt]

I actually want him to answer. I've been around. I suffered a lot during the last 3 to 6 months, as all my holdings were in assorted alts, and everything crashed together with BTC.

To the point, I'm now entering the "normie" world, working a "normie" job, as I refuse to sell any coins I still have. I lost some too, to two exchanges that recently died. Perfect timing. One is in New Zealand, the other is in Canada, you can guess which two exchanges, they were all over the news 1 week after I sent them some coins to try to cash out.

My formerly unrealized potential 50 BTC ... (that's all I really had) is down to ... well 90% "disappeared" ...

But the time traveler, and a bunch of "bitcoin global road map" posts I read before, I'm pretty optimistic about the future. And I still have two bars of silver, LOL. (Didn't get gold yet.)

I was one of those few living on crypto. 12 months ago, I set myself up to do the trading of these alts to btc to fiat and back and forth, and it was a good run for about 9 months.

Now it's no longer sustainable. I think I read in the news at least two or three foundations of other alts that are either downsizing or simply disappearing, or asking another team to take over. I felt it on a personal level.

And as much as I don't want to beg, any help is appreciated. I was almost afraid of going homeless next month. True story.

HODL to the death.

you had 50 btc but gambled it away buying shitcoins?  and you still want to keep the shitcoins? imho hodl refers to bitcoin, not to shitcoins.

[JayJuanGee]

[edited out]

Seems like the FOMO has taken a hold on you last year because alts were mooning a lot harder than BTC and you couldn't resist.

Yeah, but Dabs is also referring to that he was lured into various alts based on the attraction of "interest" which is a kind of way of suggesting that people who invest in some of these alts are going to benefit more greatly and even, perhaps, be able to embark upon a kind of passive income living that they cannot enjoy in Bitcoin because largely bitcoin does not have passive income built into it.

What I am trying to say is that there is a kind of false luring into alt coins to really buy into the possibility that they could have some income generating superiority over bitcoin when they have the interest bearing aspects.  It is a deception that is NOT true, but only becomes apparent to NOT be true with the passage of time, and you end up seeing, through experience, that those purported passive income interest bearing coins are NOT delivering value as well as if you would have just kept the value in BTC.

These kinds of deceptive practices are not going to stop anytime soon, especially when there are only less that 1% world adoption, and a lot of dumb money out there, and there is going to be ongoing marketing (perhaps many up and down cycles of such for the next 20 to 50 years) that lure new investors into buying inferior products because they perceive that Bitcoin's value is too high and that they can make more money through various purported bitcoin 2.0, 3.0, 4.0 alts. 

[Last of the V8s]

https://twitter.com/HillebrandMax/status/1092114319465201665

[mindrust]

you had 50 btc but gambled it away buying shitcoins?  and you still want to keep the shitcoins? imho hodl refers to bitcoin, not to shitcoins.

You are right but we don't live in a perfect world.

I know bitcoin is the real thing, you know, i am sure Dabs knows it too but there are gazillion of people who'll be buying those shitcoins and do you think I am stupid if I want to profit from their stupidity? -no offense Dabs.

Dabs's mistake was, he didn't dump his alts on those suckers when he had the chance.

Ironically though, FIAT believers think the same thing about us, btc holders. "Poor fuckers they didn't dump their btc on suckers when they had the chance."

It gets confusing a bit  

[Mr Airdrops]

Good analysis provided which i like to follow. Many analyse are good and right. Good luck.

[serveria.com]

I actually want him to answer. I've been around. I suffered a lot during the last 3 to 6 months, as all my holdings were in assorted alts, and everything crashed together with BTC.

To the point, I'm now entering the "normie" world, working a "normie" job, as I refuse to sell any coins I still have. I lost some too, to two exchanges that recently died. Perfect timing. One is in New Zealand, the other is in Canada, you can guess which two exchanges, they were all over the news 1 week after I sent them some coins to try to cash out.

My formerly unrealized potential 50 BTC ... (that's all I really had) is down to ... well 90% "disappeared" ...

But the time traveler, and a bunch of "bitcoin global road map" posts I read before, I'm pretty optimistic about the future. And I still have two bars of silver, LOL. (Didn't get gold yet.)

I was one of those few living on crypto. 12 months ago, I set myself up to do the trading of these alts to btc to fiat and back and forth, and it was a good run for about 9 months.

Now it's no longer sustainable. I think I read in the news at least two or three foundations of other alts that are either downsizing or simply disappearing, or asking another team to take over. I felt it on a personal level.

And as much as I don't want to beg, any help is appreciated. I was almost afraid of going homeless next month. True story.

HODL to the death.

Yeah I hear similar stories almost every day. One guy from the UK I met last week had invested in Litecoin mining biz. He had some 10-15 Antminers. Had t shut them down and sell as the couldn't afford to pay the electricity bills and with today's LTC prices it wasn't paying off. His wife left him he's in the process of getting a divorce right now because of his financial situation. If this isn't freaking 'blood in the streets" then what is? HODL brethren, HODL till the end!  

[El duderino_]

~snip~

On xhomerx10's advice, I tried to make a hat for you. After reading your publication history, I thought that you love Bitcoin and alcoholic beverages. You have good taste! At first I wanted to make a beer, but I still did not know if you like it. I slightly corrected the idea of xhomerx10.

What say about this hat?



   

Avatar:

cause its really good and XhomerX bless I will wear it sometimes as well THX man

[Gyrsur]

[realr0ach]

... like claiming centralized, imaginary, non-fungible shitcoins with built-in middlemen that don't remove counterparty risk ...

I forgot, how is it centralized, imaginary, non-fungible and what are the built-in middlemen that don't remove counterparty risk?

Transaction validators are always designed to centralize in every cryptocurrency due to a multitude of compounding variables such as asymmetric global energy prices, the asymmetric bell curve's effect on circuit design, enormous startup capital requirements of a foundry, compound interest, economy of scale, a legal system that forces gatekeeper chokepoints due to AML/KYC, among dozens of other variables.  It's 100% impossible to create a decentralized digital currency period.  You ignore the lessons of why people like Larimer attempted to create a fixed amount of transaction validators to combat this obvious problem.

Where are the built-in middlemen in cryptocurrency?  How do you not see them?  They're called rent seeking transaction validators.  You're required to both ask them permission and pay them a ransom fee anytime you wish to transact.  The system is designed to allow them to blacklist any transaction they want.  That's called a permissioned ledger, and it's 100% inevitable every non-fungible token behaves in that manner.  It's completely impossible to even do a peer to peer digital currency transaction.  The whole thing is a lie.  Each transaction ALWAYS involves three or more people, not two.  

In real money - physical metals- a peer to peer trade is actually possible involving ONLY two people.