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

[Totscha]

I wonder how all those dopes who sold at $3xxx feel now? I mean, how dumb do you have to be to see the preceding pattern and still sell at an 80% discount to the ATH?

Last year I introduced Bitcoin to a couple of frends of mine. They bought at $5~6k and sold it all at $3k because, "it's not going anywhere mate"...

People tend to expect an easy gain, and freak out when it drops below what they paid to buy. They neither understand the underlying mechanism, nor do they have the patience to HoDL. They just want a quick profit, and that's exactly why they are the losers of the game.

HoDL!

Hahahahahahaha

Sounds a bit typical, and seems that it is fair for us, here, to make fun of those kinds of folks who are so short-sighted, little ability to remain patient and too willing to buy into the mainstream FUD that bitcoin is either dead or "not going anywhere" as you quoted them to be saying.  Dumb fucks.

I had an in-law that did a very similar thing and made some similar comments to me.

In early 2018, I bought something from him, and I suggested that I would pay him by bitcoin.  The item was a bit over a $100, and the then BTC price was then a bit more than $7k.

I told him that it was likely that he was in a good position, as long as he would be willing to HODL the bitcoin for a few years.  When bitcoin hit $8k, I asked him how those bitcoins were doing, and he went on some kind of rampage that he would have had to sell them at $8k in order to make a profit (which was stupid-ass far from the truth), and that he sold them in late 2018, and bitcoin was his only "loss" for the year.  He said that it was a good thing that he had some losses to off-set his other gains, blah blah blah. 

Anyhow, there is only so far that you can go with those lacking insight and patience, at least in regards to giving any kind of benefit of the doubt to bitcoin - even as a kind of non-correlated hedge... It just might not sink-in, especially if they are already decently established in other mainstream investments and their investment advisors (and peers) are telling them how much bitcoin sucks (of course, investment advisors cannot make fees off of the vast majority of the bitcoin products, especially the buying directly approach to bitcoin).

I've found that most people tend to be very suspicious and reluctant to embrace something as revolutionary and groundbreaking as Bitcoin. It's like a bright light that blinds them -- they just can't comprehend it. Almost everyone's first reaction is that "it's a scam, you're going to lose it all". Those few that care to investigate further come back and say "it's used for drugs, don't touch it". HA! As if fiat has never been used for drugs and other illegal activities...

The more I insist and urge them to invest, the more reluctant they become. I guess it's a natural reaction in a way... "If it seems too good to be true, it probably is" kind of thing. Setting up wallets and sending some $ worth of BTC to them can help. I once set up a wallet and sent $1 worth of BTC to one of my students. A few months later she had $13 in her wallet. She's now a member of Kraken and has accumulated a decent amount of coins (single digits, but still good enough).

Of my relatives, only one has embraced and invested in crypto. Interestingly, he is the least educated of them all (but is very open-minded). Most of the university-educated guys in my circle still consider Bitcoin a scam/Ponzi...

Common sense can substitute almost any level of education, but no amount of education can replace common sense.

[600watt]

Users from the following countries will not be able to participate in token sales on the Binance Launchpad platform: Albania, Belarus, Bosnia & Herzegovina, Burma, Central African Republic, Democratic Republic of Congo, Democratic People’s Republic of Korea, Cote D’Ivoire, Cuba, Iran, Iraq, Kosovo, Lebanon, Liberia, Libya, Macedonia, Moldova,Serbia, Somalia, Sudan, South Sudan, Syria, Venezuela, Yemen, Zimbabwe, Afghanistan, Burundi, Canada, Cambodia, Ethiopia, Guinea-Bissau, Guinea, Kyrgyzstan, Laos, Malawi, Malaysia, Mali, Mozambique, New Zealand, Sri Lanka, Tanzania, Thailand, Timor-Leste, Trinidad & Tobago, Tunisia, Turkmenistan, Uganda, United States of America (USA), Uzbekistan.

us, nz, ca in fine company there. some of the most civilised places on the planet.

why do they get protected from scamcoin sales, but we do not? 

[d_eddie]

Trading suspended on bitmex. Such a long outage (several minutes already) is unusual. Fuckery? Seat belts?

EDIT Back to normal, but it was weird.

[600watt]

https://nypost.com/2019/05/22/bitcoin-manipulation-madness-calls-for-massive-investigation/



found this gem. folks, if you are ready for some kind words of a NYP author then lean back, grab a beer and/or joint and enjoy the show.

The US, the European Union and China need to investigate who is behind the manipulation of bitcoin’s price.

And since I happen to know Donald Trump and I also happen to know that the president reads my column regularly, that’s what I’m suggesting right now. No need to even make a phone call.

As I’ve said before, bitcoin is nothing more than a confidence game. It’s worth nothing if people suddenly lose their confidence in this fake digital currency. It’s backed by nothing. It’s the definition of a con.

That’s why people who are propping up bitcoin lose their minds whenever someone like me writes anything negative about it. That’s what happened on Tuesday.

Thanks, folks, for all the e-mails and tweets. Keep them coming!

I’ll keep them handy because I am sure that every one of these writers will be thrilled to defend bitcoin in front of investigators from the Securities & Exchange Commission, the Justice Department, the IRS, Homeland Security and any other agency that will eventually get in on the action.

Just so you know, I didn’t start this latest skirmish with the bitcoin, uh, let’s call them “enthusiasts.”

Mario Draghi, head of the European Central Bank started it when he said recently: “Cryptocurrencies or bitcoins, or anything like that, are not really currencies — they are assets. A euro is a euro — today, tomorrow, in a month — it’s always a euro. And the ECB is behind the euro. Who is behind the cryptocurrencies? So they are very, very risky assets.”

Federal Reserve Chairman Jerome Powell has said pretty much the same thing. “There are investor and consumer protection issues as well” with bitcoins, Powell told the House Financial Services Committee a year ago.

Powell also said cryptocurrencies are not real currencies because they have no intrinsic value.

I’ve said the same thing when a bitcoin was selling for $20,000. And still was saying it when it plunged to $4,000. Its real worth: $0.

Legendary investor Warren Buffett called bitcoin “rat poison squared.” And Berkshire Hathaway Vice Chairman Charlie Munger said trading in cryptocurrencies is “just dementia.”

Jamie Dimon, head of JPMorgan Chase, has called bitcoin a “fraud,” although he has since backed off that view. Dimon was probably getting pressure from his company’s traders, who figure they can make a quick score before bitcoin collapses.

But there are simple means for settling this: investigations. Do them now, before gullible investors take another hit like they did when bitcoin fell from $20,000.

An analyst named Tom Lee, of little-known Fundstrat Global Advisors, seems to be going to heroic lengths to promote bitcoin. He should be the first to be asked his opinion and how much of his own money is invested in the crypto market.

nouriel, is that you? 

[Last of the V8s]

Users from the following countries will not be able to participate in token sales on the Binance Launchpad platform: Albania, Belarus, Bosnia & Herzegovina, Burma, Central African Republic, Democratic Republic of Congo, Democratic People’s Republic of Korea, Cote D’Ivoire, Cuba, Iran, Iraq, Kosovo, Lebanon, Liberia, Libya, Macedonia, Moldova,Serbia, Somalia, Sudan, South Sudan, Syria, Venezuela, Yemen, Zimbabwe, Afghanistan, Burundi, Canada, Cambodia, Ethiopia, Guinea-Bissau, Guinea, Kyrgyzstan, Laos, Malawi, Malaysia, Mali, Mozambique, New Zealand, Sri Lanka, Tanzania, Thailand, Timor-Leste, Trinidad & Tobago, Tunisia, Turkmenistan, Uganda, United States of America (USA), Uzbekistan.

us, nz, ca in fine company there. some of the most civilised places on the planet.

why do they get protected from scamcoin sales, but we do not? 

because they do not have any money

[_javier_]

do we have WO residents participating in whalepool telegram chat?

we can make a telegram group too.. you know.. to make the arrangements for the 100k party. My vote goes to make it in Cayman Islands. 

[bitserve]

https://nypost.com/2019/05/22/bitcoin-manipulation-madness-calls-for-massive-investigation/



found this gem. folks, if you are ready for some kind words of a NYP author then lean back, grab a beer and/or joint and enjoy the show.

The US, the European Union and China need to investigate who is behind the manipulation of bitcoin’s price.

And since I happen to know Donald Trump and I also happen to know that the president reads my column regularly, that’s what I’m suggesting right now. No need to even make a phone call.

As I’ve said before, bitcoin is nothing more than a confidence game. It’s worth nothing if people suddenly lose their confidence in this fake digital currency. It’s backed by nothing. It’s the definition of a con.

That’s why people who are propping up bitcoin lose their minds whenever someone like me writes anything negative about it. That’s what happened on Tuesday.

Thanks, folks, for all the e-mails and tweets. Keep them coming!

I’ll keep them handy because I am sure that every one of these writers will be thrilled to defend bitcoin in front of investigators from the Securities & Exchange Commission, the Justice Department, the IRS, Homeland Security and any other agency that will eventually get in on the action.

Just so you know, I didn’t start this latest skirmish with the bitcoin, uh, let’s call them “enthusiasts.”

Mario Draghi, head of the European Central Bank started it when he said recently: “Cryptocurrencies or bitcoins, or anything like that, are not really currencies — they are assets. A euro is a euro — today, tomorrow, in a month — it’s always a euro. And the ECB is behind the euro. Who is behind the cryptocurrencies? So they are very, very risky assets.”

Federal Reserve Chairman Jerome Powell has said pretty much the same thing. “There are investor and consumer protection issues as well” with bitcoins, Powell told the House Financial Services Committee a year ago.

Powell also said cryptocurrencies are not real currencies because they have no intrinsic value.

I’ve said the same thing when a bitcoin was selling for $20,000. And still was saying it when it plunged to $4,000. Its real worth: $0.

Legendary investor Warren Buffett called bitcoin “rat poison squared.” And Berkshire Hathaway Vice Chairman Charlie Munger said trading in cryptocurrencies is “just dementia.”

Jamie Dimon, head of JPMorgan Chase, has called bitcoin a “fraud,” although he has since backed off that view. Dimon was probably getting pressure from his company’s traders, who figure they can make a quick score before bitcoin collapses.

But there are simple means for settling this: investigations. Do them now, before gullible investors take another hit like they did when bitcoin fell from $20,000.

An analyst named Tom Lee, of little-known Fundstrat Global Advisors, seems to be going to heroic lengths to promote bitcoin. He should be the first to be asked his opinion and how much of his own money is invested in the crypto market.

nouriel, is that you?  

Read it some time (?days? weeks?) ago. I think I stopped reading at this: "And since I happen to know Donald Trump and I also happen to know that the president reads my column regularly, that’s what I’m suggesting right now. No need to even make a phone call."

Yeah, because you don't even need to call your pal "donnie"... he is just permanently looking for the slightest signal from you to act on your command.

Clown.

[bitserve]

do we have WO residents participating in whalepool telegram chat?

we can make a telegram group too.. you know.. to make the arrangements for the 100k party. My vote goes to make it in Cayman Islands.  

I stand by my vote of Vegas (in summer). The place was basically built from scratch to host the $100K summit/party.

[xhomerx10]

https://nypost.com/2019/05/22/bitcoin-manipulation-madness-calls-for-massive-investigation/



found this gem. folks, if you are ready for some kind words of a NYP author then lean back, grab a beer and/or joint and enjoy the show.

The US, the European Union and China need to investigate who is behind the manipulation of bitcoin’s price.

And since I happen to know Donald Trump and I also happen to know that the president reads my column regularly, that’s what I’m suggesting right now. No need to even make a phone call.

As I’ve said before, bitcoin is nothing more than a confidence game. It’s worth nothing if people suddenly lose their confidence in this fake digital currency. It’s backed by nothing. It’s the definition of a con.

That’s why people who are propping up bitcoin lose their minds whenever someone like me writes anything negative about it. That’s what happened on Tuesday.

Thanks, folks, for all the e-mails and tweets. Keep them coming!

I’ll keep them handy because I am sure that every one of these writers will be thrilled to defend bitcoin in front of investigators from the Securities & Exchange Commission, the Justice Department, the IRS, Homeland Security and any other agency that will eventually get in on the action.

Just so you know, I didn’t start this latest skirmish with the bitcoin, uh, let’s call them “enthusiasts.”

Mario Draghi, head of the European Central Bank started it when he said recently: “Cryptocurrencies or bitcoins, or anything like that, are not really currencies — they are assets. A euro is a euro — today, tomorrow, in a month — it’s always a euro. And the ECB is behind the euro. Who is behind the cryptocurrencies? So they are very, very risky assets.”

Federal Reserve Chairman Jerome Powell has said pretty much the same thing. “There are investor and consumer protection issues as well” with bitcoins, Powell told the House Financial Services Committee a year ago.

Powell also said cryptocurrencies are not real currencies because they have no intrinsic value.

I’ve said the same thing when a bitcoin was selling for $20,000. And still was saying it when it plunged to $4,000. Its real worth: $0.

Legendary investor Warren Buffett called bitcoin “rat poison squared.” And Berkshire Hathaway Vice Chairman Charlie Munger said trading in cryptocurrencies is “just dementia.”

Jamie Dimon, head of JPMorgan Chase, has called bitcoin a “fraud,” although he has since backed off that view. Dimon was probably getting pressure from his company’s traders, who figure they can make a quick score before bitcoin collapses.

But there are simple means for settling this: investigations. Do them now, before gullible investors take another hit like they did when bitcoin fell from $20,000.

An analyst named Tom Lee, of little-known Fundstrat Global Advisors, seems to be going to heroic lengths to promote bitcoin. He should be the first to be asked his opinion and how much of his own money is invested in the crypto market.

nouriel, is that you? 

 It can't be Nouriel; not enough hyperbole.
 Let's just see which unravels more quickly, The European Union (hence the Euro) or Bitcoin.

 

[Last of the V8s]

[LFC_Bitcoin]

do we have WO residents participating in whalepool telegram chat?

we can make a telegram group too.. you know.. to make the arrangements for the 100k party. My vote goes to make it in Cayman Islands.  

I stand by my vote of Vegas (in summer). The place was basically built from scratch to host the $100K summit/party.

I’m up for that. Been three times a loved it every single time.

[Last of the V8s]

New money Tuesday?
After a bank holiday in the US yesterday, US wires should be hitting the exchanges right now.

[fillippone]

Cautionary tales, it's happening again in FIAT: local Government in Zimbawe indulges in money printing, losing credibility at the expenses of the people suffering yet another time of Hyperinflation.

Do you remember Zimbawe?

Here:



A mouthful of Zollars:
The Economist
https://www.newsday.co.zw/2019/05/a-mouthful-of-zollars/

Zimbabwe’s previous homegrown currency was destroyed by the hyperinflation of 2007-08, forcing the country to adopt the American dollar (and other foreign currencies) instead. That worked well until 2015. But in the final years under Robert Mugabe, the longstanding dictator ousted in November 2017, the government could not muster enough genuine dollars to meet its spending ambitions. Instead it paid people with money of its own creation, transferred electronically into their dollar bank accounts. These “zollars”, it claimed, were identical to a dollar. But if depositors withdrew them from the bank they received not greenbacks, but “bond notes”: paper currency issued by the Reserve Bank of Zimbabwe, the country’s central bank.

Last October, the new government, led by Emmerson Mnangagwa (pictured), admitted that zollars and dollars were not the same, allowing depositors to keep them in separate accounts. By mid-December the banking system had almost 9,7bn in zollar deposits and only $660m in dollars. But the government insisted that a zollar could fetch $1.

Bitcoin is the ultimate Hard Money, digital gold, allowing for individual financial sovereignty.
I personally own one of those banknotes, easily found on eBay, as a memento of Disasters of irresponsible money printing by avid central bankers.

[jonoiv]

New money Tuesday?
After a bank holiday in the US yesterday, US wires should be hitting the exchanges right now.

personally im thinking today will be the oppersite.  we had 5 green days, very possible for some red ones soon.  

[somac.]

New money Tuesday?
After a bank holiday in the US yesterday, US wires should be hitting the exchanges right now.

personally im thinking today will be the oppersite.  we had 5 green days, very possible for some red ones soon.  

Starting to look that way. Just after I bought a little bit more too, always the way.

[El duderino_]

New money Tuesday?
After a bank holiday in the US yesterday, US wires should be hitting the exchanges right now.

personally im thinking today will be the oppersite.  we had 5 green days, very possible for some red ones soon.  

there been one presenting itself right now, so yeah I guess the same
hopefully followed by some bigger green mean boys!

[El duderino_]

New money Tuesday?
After a bank holiday in the US yesterday, US wires should be hitting the exchanges right now.

personally im thinking today will be the oppersite.  we had 5 green days, very possible for some red ones soon.  

Starting to look that way. Just after I bought a little bit more too, always the way.

Just another red noise to make the chart look a little bit more colorful nothing more....

[kenzawak]

Remember French artist Pascal Boyart ? This is his latest work. 

https://twitter.com/pascalboyart/status/1133077870656532480

Who's Satoshi? series #4: #faketoshi portrait only made of pink and white toilet paper glued on linen canvas 🚽 Inscriptions only visible with blacklight. Dimensions: 60x73cm #bitcoin #crypto #art

Pink and white toilet paper for a piece of ... ? Well of course !

[d_eddie]

New money Tuesday?
After a bank holiday in the US yesterday, US wires should be hitting the exchanges right now.

personally im thinking today will be the oppersite.  we had 5 green days, very possible for some red ones soon.  

Starting to look that way. Just after I bought a little bit more too, always the way.

I bought some too, but these are the joys of DCA. You miss sometimes, but you hit most of the time - as long as the asset keeps growing in the long run. Never mind the blips.

On the other hand, I managed to open a new long at a more comfortable entry point 

[pawanjain]

Just noticed a lot of avatar changed back to HATs = massively Bullish indicator!

Speaking of the same. I wish to have a hat for myself. Nutildah suggested to make a post on this thread asking @xhomerx10 if he could make the hat for me.

Here is the image for the hat.


Original image: https://www.google.co.in/search?hl=en&biw=1920&bih=937&tbm=isch&sa=1&ei=Nz3tXLCmMtrhz7sPwY6SsAo&q=anonymous&oq=anon&gs_l=img.1.0.0i67j0l9.72794.75558..76708...0.0..3.176.1226.1j8......0....1..gws-wiz-img.....0..35i39.L3jqkt_deeQ#imgrc=mIQMDzYgHoW9LM:

@xhomerx10 I request you to make a nice hat for me. Thanks in advance.