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

[bitserve]

Nice

[btcbeliever]

  choo choo bitcoin 
time for some consolidation for a few days, please!

[OROBTC]

...

Chinese Yuan down to 7 / USD, a record low.  Kyle Bass says this has just started:

https://www.zerohedge.com/news/2019-08-04/currency-war-begins-chinese-yuan-crashes-past-7usd-record-low

Asian stocks down hard.  US and German stock futures down hard.  Gold is up a tiny bit.

What will happen in Hong Kong this week?

BTC at +/- $11,400.  No surprise...



Edited for additional info

[HairyMaclairy]

No way would I characterize myself as a professional traitor

Well that’s a relief

[BitcoinNewsMagazine]

Tipping point reached bulls in control.

[nutildah]

It's against the rules for merit sources to trade their smerits for anything of value

So this means we can still trade merits for BSV or Beam?



I do hate being out of merits, but it does encourage me to think up ways to farm up more merits. My sMerit supply is so piddly that when they trickle to me its like a weak stream of urine on my head.

[JayJuanGee]

No way would I characterize myself as a professional traitor

Well that’s a relief

Whoops!!!!   what a freudian slip... I went back and fixed that one.

[JayJuanGee]

It's against the rules for merit sources to trade their smerits for anything of value

So this means we can still trade merits for BSV or Beam?



I do hate being out of merits, but it does encourage me to think up ways to farm up more merits. My sMerit supply is so piddly that when they trickle to me its like a weak stream of urine on my head.

I understand the pun about that shit hardly being worth anything - but surely it has not gone to zero yet, so "technically" there is arguable value there, so I wouldn't take any of those kinds of chances, unless you want to be removed as a merit source... which I believe would be the most likely remedy..........

[realr0ach]

Overall in next 20 years Monero, Bitcoin and Gold mining emissions will be quite close together. No huge differences. All will be scarce and none will have problems with to low emission.

There's no such thing as a "scarce" craptocurrency.  Even JayJuanGee can play God and create them out of thin air and there's no Schelling point that forces anyone to use a particular one.  Then even if there was only one craptocurrency, it would fork into several craptocurrencies because their traits are entirely arbitrary and some people would want different attributes than others.  Unlike physical metals, nothing based on artificial scarcity you can endlessly conjure out of thin air has value.

[Paashaas]

Party time.


https://twitter.com/Jkylebass/status/1158191251499429889

[heslo]

This is nice... more of this

[JayJuanGee]

Every up/down, I make a profit.

Wow, you're making a profit every second of every day?

He does not necessarily make profits unless the BTC price moves; therefore, profits are based on volatility.

That is one of the rest assured things in bitcoin is volatility and one of the most rest assured ways of profiting from bitcoins almost inevitable volatility is by laddering... seems that there are a few of us who are advocates for such an approach including jbreher, me and several others.

There might be quite a few reasons to razz jbreher, but this is not one of them.... maybe I should take that back a little bit, I have razzed him a little bit for how he seems to be setting his increments and the amounts of his trades, but largely those are discretionary matters, but even if they are discretionary, they can still be good to bat around, especially if some guys (and perhaps gal) are trying to figure out how to employ such laddering to their own circumstances and advantages and disadvantages to how you set your increments and amounts.

So, even though I have expressed some disagreement regarding the way that jbreher sets his amounts and increments, I have no doubts that if he is actually employing any semblance to what he says then he is likely not misrepresenting that he is profitable on the way up and on the way down... no exaggeration there.

By the way, you are not likely going to get rich from laddering by itself, but it is a pretty decent way to supplement and manage dollar cost average investing, especially after you have already finished most of your bulk accumulation stage and any further BTC accumulation is mostly in the form of a kind of maintenance.    Even though laddering probably should not be used for BIG plays, it can give guys very decent ideas of market dynamics based on ongoing and active participation in short-term price movements and really allow you to both recognize and perhaps to be in place to deviate from laddering and to take advantage of what seems to be opportunistic BTC price locations.

[nutildah]

Every up/down, I make a profit.

Wow, you're making a profit every second of every day?

There might be quite a few reasons to razz jbreher, but this is not one of them....

Meh, anybody can say anything. I really only give credit to people who have the foresight to say something that turns out to be verifiably correct later. Those posts indicate value in the poster. I also find breaking news items to be valuable, along with social banter, and pics of scantily clad women. Posts where people talk about how awesome they are for things they said they have done are of no value.

Having said that, I do value my anonymity, which is why I can't disclose who I write for or what else I do to make ends meet.

[Searing]

Party time.


https://twitter.com/Jkylebass/status/1158191251499429889

Really? I suppose it makes sense in the sense of Hong Kong. Add the US stock market starting to look soft and hell you could very well be correct!

[AlcoHoDL]

Gooooooooood morning WO's!

Observing $11,600 (10,400 €) / BTC.



CCMF!

[jojo69]

well now

[jbreher]

Every up/down, I make a profit.

Wow, you're making a profit every second of every day?

Jeebus cripes, you love to be obtuse, don't you?

Anyone who was following along at home would know exactly what I was talking about.

But not you. Oh no. I write something, and your inner mental amoeba rises up to blind your eyes and ears to what I am conveying.

To unpack it for you: Every cycle of up followed by down (or down followed by up - pick one) in which the swing exceeds my ladder interval, I make a profit.

Did you really not understand exactly what I meant? Are you really that blinded by hatred? Or are you really that dense?

[jbreher]

The only point i was making is that selling, then re-buying, then selling again and re-buying sequences would most likely (in my opinion) result in a lower number of bitcoins than you start with.

Only in the case of monotonically increasing corn price. But corn ain't nothin', if not volatile.

I have absolutely no problem with selling bitcoin (or $$ for btc) in bits and pieces on the way up (or down, depending on your strategy).
It' the trading back and forth that I posit to be an unrealistic tool (when taken alone) to increase the number of btc that someone have.

I realize that you might be playing with small %%, still, i do not wish other people trading away their future wealth by trying to gain a bit of a leverage, hence my post.

There's the key.

[jbreher]

Nice

For those monetary archaeologists trawling this forum in the year 2140, the price of BTC just went from below $11,000 USD (is the USD still a thing in 2140?) to over $11,600 USD in the course of less than three hours.

I'm assuming that is what prompted the comment of 'nice'.

[jbreher]

It's against the rules for merit sources to trade their smerits for anything of value

So this means we can still trade merits for BSV or Beam?



I do hate being out of merits, but it does encourage me to think up ways to farm up more merits. My sMerit supply is so piddly that when they trickle to me its like a weak stream of urine on my head.

Bathe in the nourishing delight of my golden stream, knave.

Well, your retort was kinda funny. Though I guess I stretched my usual 'wet screen' policy a bit more than a bit.