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

[Hueristic]

Why do people sell when it's down??

I just totally don't get that.

Overextended.

HEY,I'm only behind 292 posts!
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FUCK

Some folks are very confident that it crashes after it goes over 10k and selling their coins. Risky risky...

I’m selling nothing until $20,000. Might off load 10% then.

Huh LFC?  Even you should know better than that.

Let me attempt to confirm a certain price dynamic with you.  

You realize that $20k is a kind of no-man's zone? or no selling your bitcoins zone?

Sure, of course there could be a bit of faking out in that price area, and maybe bitcoin prices might get stuck in that area for a bit of time, but really the odds of correcting downwards from there in any kind of meaningful way should be pretty damned low.  

So if you mare a bit worried that there might be a long correction then you should sell some BTC at below $17,500 or above $24,000-ish... Not in the $17,500 to $24,000 ish range...  Of course, anything can happen in bitcoin, so you have to be prepared for anything, but generally, there are going to be zones such as previous ATHs that are not really going to be areas in which BTC's price would be stuck for any meaningful length of time (relatively speaking).. especially, once on the way up and returning to those prices  - and likely shooting past.

Hopefully, you can figure out some kind of selling plan that is more realistic than to time any meaningful sales in that "no man's" zone.

Observing - $9,782.

Looks like we’re going up again. If I was a betting man, which I am.... I’d definitely say we’re going to break $10,000 this weekend.

I would like to go sideways for a bit though, I really don’t want a meteoric rise & flash crash. At this rate we’re going to see a new ATH BEFORE the halving.

Like I said, be really good to slow down a little.

Yeah, but what if she does not want to slow down?  And buy support is sufficiently following this uptrend based on mere dynamics of retracing territory in which we have already been.. and accordingly, $20k was NOT as BIG of a blow-off top as some of the bears and the BTC naysayers would like you to believe?

I do agree that there is some healthiness in pausing and pulling back a bit, here and there, but pulling back does not seem to be a necessary condition in something like bitcoin, in which many folks (including smart money) realize that it is the "real deal," and accordingly, they have a decent amount of desire (and even ability to do so) to attempt to front run the next parabolic price move.

Don't get me wrong, I remain prepared for any of the three directions, but I don't buy any of the arguments that seem to rely too much on assertions (meaning they put too much weight into such assertions) that we have to go down before we are capable of going further up.  

I’m more than prepared, I’m sitting on a stash of BTC just waiting to get rich

All I mean when I say I’d like to slow down a bit is really that I’m worried we’re going too fast & I fear a massive crash like last time.
If it keeps going up with little retrace & we hit $100,000 by 2022 I’ll be the happiest man in the world.

I get you... I get you.

No one wants the thing to go up in such a quick way that it is NOT sustainable and then it seems to crash down more than it would have likely crashed down, if it were not for the overzealousness in BTC buying.  

I get it.. I get it...   But what the fuck can we do about it... I mean, I don't really want to criticize you for stating a preference, but you also have been around the block so many times that you likely understand that BTC does not give two ratt's asses what you would prefer, and sometimes the out-of-control just has to play out... The out of control plays out both upwardly and downwardly.  Of course it is a bit more comfortable when it plays out upwardly because us HODLers are getting richer, overall.

So, yeah, we know that the more that the BTC price gets heated, the more likely we are going to suffer at some point in the near future with a correction.. and perhaps even  a correction that makes us quite a bit more uncomfortable than we would prefer to feel.

But at the same time, that is bitcoin.  Our little friend bitcoin seems to overdo matters on a regular basis, and we cannot do shit about it, except attempt to prepare ourselves financially and psychologically for a kind of inevitability.  

In other words, we can wish until we are blue in the face that maybe bitcoin could slow down a bit and to act a bit more gradual and grown up... but she is not grown up.. and she is not gradual.... (at least not during times like these), and there's gotta be some way that we just have to figure out how to accept the situation.

I also understand that you have been engaging in a bit of a practice that involves a certain amount of over-investing into BTC, and so that way you are going to feel a lot better to get rid of some BTC at various stages on the way up.. rather than if you had been more conservative in your BTC investment, then you might be a bit more reluctant to give up any amount of BTC as the prices go up.. which seems great.. they are going up and up and up...

which feels good man.

Shave off .1BTC here or there, might make you feel a bit better too.. especially when the price is going up so god damned much... and even if the price does not come back down, sometimes it can feel good to create some downside insurance by shaving off a bit of BTC, here and there. ... even though  your BTC holdings might end up being only 98.36 rather than 100 or whatever damned round artificial and psychologically restraining random number that you have imposed upon your own psyche.

Yeah, I have been shaving off BTC from my holdings since April 1 and thereafter at $4,200, and yeah, I am not likely to get too many of those BTC back.. but I don't care.... and yeah, I was able to buy back some with a few of the significantly sufficient BTC price corrections that we had between $4,200 and $10,916... but there were only a few of those corrections that were in the 15% to 25% range and the remainder of them were even less that allowed me even less opportunity to buy back... but even though I could have had more BTC, I have found a kind of amount in which I continue to be comfortable to continue to shave off that value and to have the fiat from those BTC available in the event that BTC's price goes back, down (and it may well not go back down....... and I am ok with that)...

even shaving off coins... I still feel damned rich... feels good man.

So gotta find some area of comfort.. what is that area of comfort?  How is that area of comfort different for different guys... ?  Main thing is to find a comfort area that works to settle you, even when BTC's price is acting a bit out of control.. on the upside this time, which still remains a bit stressful.. I get it.  I get it.

And then I Immediately hit a JJG post.

SHIT!

[Theoak*]

Don’t ever underestimate the power of greed. Those who bought and are holding at ranges 13-20k had the mindset of selling to recoup or even break even once price reaches those price points again. i have a feeling many of these peoples mindset will revert back to their pre purchase mentality. Hop on board and hodl as the eco system has changed and more belief in btc has come into fruition.

[Krubster]

Dear WO gentlemen,

I'd like to introduce myself. I'm a long-time lurker. I've been reading this thread on and off since 2012. I do have an account from that year, but I lost access to it after the bitcointalk database breach. I don't care though. I was a nobody here then, just as I'm a nobody here now. I probably didn't have more than 10 post anyway. Like I said, I'm more of a lurker.

I'd just like to chime in and say thank you to all you WO participants. I really enjoy reading this thread. Reading about the rare TA, getting a rough feeling of the market sentiment, or just reading about the everyday WO drama.

What about me? Got my eyes open for bitcoin in 2011, but I thought I was too late in the game, so I never bought any at that time. I eventually pulled the trigger the following year and bought my first and only bitcoins at around $10. Even though I've lost or sold 90% of my initial holdings, I'm really fortunate. Bitcoin has defined my life. I'm in my late 30s and I am retired since a couple of years back, living my dream. All thanks to bitcoin.  

Once again, thanks. I really I enjoy 'lurking around here'. Keep it up, cheers gentlemen.

[El duderino_]

[img]https://i.imgflip.com/3431mt.jpg[/img height=77]via Imgflip Meme Generator

Sorry bro’s out with my brother, up for a Classic?

Rose talking back At me f***

This is getting interesting... what's next? A dick pic? 

Full screen not allowed.....

[CryptoNeed]

[img]https://i.imgflip.com/3431mt.jpg[/img height=77]via Imgflip Meme Generator

Sorry bro’s out with my brother, up for a Classic?

Rose talking back At me f***

This is getting interesting... what's next? A dick pic? 

Full screen not allowed.....

No full screen needed for his wiener. He may be short, but he is super thin!

[d_eddie]

Yefi also has a Bitcoin Mechanics day, it seems. Pereira asking the questions again. At times I wish a merit source. Already asked for help, haven't I. Well whatever, both are legends already.

If yes, then I would still be paranoid of seed bruteforcing. There's something about Electrum that wouldn't allow me to sleep at night with any relevant amount of money in there.

The seed is just another way of representing a random 128-bit number. You'll have about as much luck bruteforcing that as a private key.

Keyword: a key. It would only take getting lucky once to get all of your money. With a wallet.dat you would need to go address by address. Who knows what those fuckers have in store when it comes to quantum computers within a couple of decades. Plus any mistakes on your part leading to key derivation exploits... yeah no thanks. Electrum seems like a bad idea for serious cold storaging.

The security of Bitcoin derives not from having many keys, but from having strong keys to begin with. The point at which randomly generated private keys become vulnerable to folk "getting lucky" we have a massive problem on our hands.

By the way, Bitcoin Core since like 0.13 I think has used deterministic wallets, so all your keys in wallet.dat are derived from a single master key now.

IOW, basically the same number of bits to crack - by sheer luck or quantum wizardry - as Electrum. If someone feels unsafe, they could divide the funds into multiple wallets, Core or Electrum or a mix (I'd keep it simple. Security by obscurity is bad anyway). Each wallet has its own master key or word sequence. The word seq can be seen as a master key in longer, human form.

Ideally, if you compress the sequence as hard as you can, the binary zip you are left with behaves much like a binary master key in Core style. The inverse process - from Core key to seed - isn't actually available that I know of, but it is entirely possible, easier if you're allowed some slack when "unzipping" - an extra word or something.

[Hueristic]

Dear WO gentlemen,

I'd like to introduce myself. I'm a long-time lurker. I've been reading this thread on and off since 2012. I do have an account from that year, but I lost access to it after the bitcointalk database breach. I don't care though. I was a nobody here then, just as I'm a nobody here now. I probably didn't have more than 10 post anyway. Like I said, I'm more of a lurker.

I'd just like to chime in and say thank you to all you WO participants. I really enjoy reading this thread. Reading about the rare TA, getting a rough feeling of the market sentiment, or just reading about the everyday WO drama.

What about me? Got my eyes open for bitcoin in 2011, but I thought I was too late in the game, so I never bought any at that time. I eventually pulled the trigger the following year and bought my first and only bitcoins at around $10. Even though I've lost or sold 90% of my initial holdings, I'm really fortunate. Bitcoin has defined my life. I'm in my late 30s and I am retired since a couple of years back, living my dream. All thanks to bitcoin.  

Once again, thanks. I really I enjoy 'lurking around here'. Keep it up, cheers gentlemen.

This thread can certainly become an addiction!

Only behind like 250 posts now.

Shit, half the time I just read this thread and don't even check the price.

[d_eddie]

Thanks lightfoot   

[realr0ach]

Trollbian, do you think the racism against the spade rudder is justified?

[olseh]

Dear WO gentlemen,

I'd like to introduce myself. I'm a long-time lurker. I've been reading this thread on and off since 2012. I do have an account from that year, but I lost access to it after the bitcointalk database breach. I don't care though. I was a nobody here then, just as I'm a nobody here now. I probably didn't have more than 10 post anyway. Like I said, I'm more of a lurker.

I'd just like to chime in and say thank you to all you WO participants. I really enjoy reading this thread. Reading about the rare TA, getting a rough feeling of the market sentiment, or just reading about the everyday WO drama.

What about me? Got my eyes open for bitcoin in 2011, but I thought I was too late in the game, so I never bought any at that time. I eventually pulled the trigger the following year and bought my first and only bitcoins at around $10. Even though I've lost or sold 90% of my initial holdings, I'm really fortunate. Bitcoin has defined my life. I'm in my late 30s and I am retired since a couple of years back, living my dream. All thanks to bitcoin.  

Once again, thanks. I really I enjoy 'lurking around here'. Keep it up, cheers gentlemen.

Good on you mate! Living the dream! Hope to be there one day myself

[realr0ach]

Looks like cryptoscammers have absolutely nobody to dump on this time and whoever is buying is going to be holding the bag themselves unless Nigeria suddenly became a lot wealthier than I remember:



Zerohedge has voted overwhelmingly against purchasing centralized, valueless, government tracking system Jew scam tokens as well:

[noormcs5]

Don’t ever underestimate the power of greed. Those who bought and are holding at ranges 13-20k had the mindset of selling to recoup or even break even once price reaches those price points again. i have a feeling many of these peoples mindset will revert back to their pre purchase mentality. Hop on board and hodl as the eco system has changed and more belief in btc has come into fruition.

Those who bought in the ranges of 13k and above must have sold their bitcoins in loss. There might be very few people who have such a holding power and a mental strength to hold the coins for over a year and still not panic seeing bitcoin moving down to 3000$.

[realsteelboy]

Looks like cryptoscammers have absolutely nobody to dump on this time and whoever is buying is going to be holding the bag themselves unless Nigeria suddenly became a lot wealthier than I remember:



Zerohedge has voted overwhelmingly against purchasing centralized, valueless, government tracking system Jew scam tokens as well:

That poll isn’t using leading questions at all. 

[realsteelboy]

Guys I have a confession to make.

It’s all my fault.

You might remember my post/hat from Dec 2017.

I promised myself I would buy myself a present at 10k

So I bought this....it arrived yesterday



Since I've been wearing it we've been moving at more than 2k a day. It's not coming off.  

We'll all know the reason if BTC crashes...

I'm sleeping in it tonight  

Well I need to tell you something. I took it off.

Then we crashed 90%.

I have spent the last 18 months in inner turmoil, thinking of all the people I’d let down.

This time I give you my word at 10k it goes on, and it does not come off

It’s back on. This time for good. CCMF.

xhomerx10. If you can make me a copy for when I hopefully get my account back that would be amazing.

 You put this on asap and never take it off again, please!



 Avatar-sized



P.S. Nobody blames you for the correction.
P.P.S.  Sorry DeathAngel but CCMF is critically important so I had to let realsteelboy jump the queue.  You're next!

Quality. Will rock it as soon as I get my account back. Thanks.

[realr0ach]

https://www.rt.com/usa/462475-incels-threat-air-force-briefing/

That article was the dumbest thing I've ever seen so there's probably some sort of hidden motive behind it, like the fact that women as a whole are an enormous net tax burden on the state over the course of their lives while men are tax cows.  Since lots of men are refusing to get married now, (((the state))) is probably trying to engineer men to forcibly marry so random fool men (trollgoossens) will carry the monetary burden of women instead of the state.

Also, the natural male to female birth ratio is 105:100 respectively.  You could say that 4.76% of the male population born each year are automatically incels even if the entire male population are clones of Fabio.  That is, unless men are naturally designed to kill each other off and that's why the ratio is higher with 5 out of every 105 men being destined to be murdered by some other dude.  Once you factor in like 90% of the freely circulating female population are morbidly obese now with an average weight of 170 pounds that no male will touch, with males also being naturally more abundant, this gives you a supply of like 10 dudes for every regular female and all kinds of problems.

[sheenshane]

Majority of them voted to dump price but I am still hoping it will continue pump and FOMO will not end.

Will good to see the market at price of $12k or more.

[infofront]

https://www.rt.com/usa/462475-incels-threat-air-force-briefing/

That article was the dumbest thing I've ever seen so there's probably some sort of hidden motive behind it, like the fact that women as a whole are an enormous net tax burden on the state over the course of their lives while men are tax cows.  Since lots of men are refusing to get married now, (((the state))) is probably trying to engineer men to forcibly marry so random fool men (trollgoossens) will carry the monetary burden of women instead of the state.

Also, the natural male to female birth ratio is 105:100 respectively.  You could say that 4.76% of the male population born each year are automatically incels even if the entire male population are clones of Fabio.  That is, unless men are naturally designed to kill each other off and that's why the ratio is higher with 5 out of every 105 men being destined to be murdered by some other dude.  Once you factor in like 90% of the freely circulating female population are morbidly obese now with an average weight of 170 pounds that no male will touch, with males also being naturally more abundant, this gives you a supply of like 10 dudes for every regular female and all kinds of problems.

Males have higher birthrates, but also higher infant mortality rate, so it tends to balance out. It may be different now in 1st world countries.

Competition between males is good for the species. Incels are the weakest among us, so should not reproduce.

[Hueristic]

Anybody have Mcafee’s dick eating price timeline thing?

Is he still looking stupid or not?

$1 million dollars perBTC by the end of next year 2020.
https://news.bitcoin.com/the-infamous-bet-john-mcafees-2020-price-target-shows-btc-undervalued-by-37k/

Just in time for his inauguration for presidency.

If he is then I'm voting for that fucking lunatic!

[realr0ach]

Males have higher birthrates, but also higher infant mortality rate, so it tends to balance out. It may be different now in 1st world countries.

Competition between males is good for the species. Incels are the weakest among us, so should not reproduce.

As far as I know, the industrial revolution ended much of natural selection because the weakest of humans used to all die in early childhood and now almost everyone lives through it.  As for the word "incel", it's a very misleading term.  People make believe like the word somehow signifies 'white nerd', but if you ever click on one of those Reddit forums, it seems like the majority of those posters are INDIANS and other brown ethnic groups.
Then there will be some amalgamation of random mixed race people like half Asian and half something else like that Elliot Rogers guy.

Indian males as a whole aren't world renowned to be the epitome of beauty or anything, but a lot of them will look like...mostly normal Indians.  They could probably marry one of their own kind but seem to have been exposed to white civilizations and now view only white women as desirable or something.  Same thing with lots of these blacks, arabs, and other racial groups.  They're defacto incels because you have 3 billion brown people all seeking out the same few million age 18-25 white women.  Multiculturalism is bad for us and bad for them.

[JayJuanGee]

Brothers,
What's your take from this: https://bitcointalk.org/index.php?topic=5157191.0

Well it is a good story. First she was confused about what to expect with the milk expanding. She had a linear expectation while living in a non linear world. ( big mistake).

No one knows how high Bitcoin will go or not go. Personally I would be uncomfortable with ALL my wealth in Bitcoin. ( that is just me) My strategy is selling some during extraordinary Bull runs and putting the proceeds into other assets. ( that is just me). All of my bitcoin is at no cost. It is all house money. Which means I will not be like the Gypsy.

That being said, I am also uncomfortable not owning enough relative to my net worth. ( I guess it is personal to everyone's situation )

That is my two cents.

O.k... I decided to comment in that thread too. 

I agree that the milk story is a bit of a non-fit in how it might apply in bitcoin.

So, yeah, in bitcoin we are better off to have a kind of incrementalist behavior rather than perceiving the underlying asset as an all or nothing proposition while attempting to time the tops, which would be nearly an impossible task and tends to NOT be necessary, anyhow, because bitcoin's cycles do tend to cause it to ultimately go higher with higher highs and higher lows, even though it could take years to play out or to figure out at which price points you would like to cash out some or all of your BTC stash.

I agree with you, nikauforest, that putting all of your wealth in bitcoin would seem to be a foolish approach because currently we live in a world in which fiat continues to have value and might even be quite useful for monthly expenses, and also it is likely going to be good, too, to hold some wealth in other assets, even if some of those are utilitarian, such as a car or computer, or just having a stock of food and water supply.  Housing  is also a good example of a place that could be useful and practical to hold some wealth.