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

[SuperTA]

Bitcoin  6 month return 170%
Silver   6 month return   17%
 
  Bitcoin outperformed silver x10

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[Bossian]

Bitcoin is in a bull trend. People calling for a bull trap don't realize that it just cannot be in the 8 month long bull trap. If this was the case and bitcoin turns bearish on the longterm chart, it would be the first time in bitcoin history. So it's very unlikely. When no coiners realize that, it will be probably too late for them.

Depends. At 50k it's still worth buying if it soon goes to 100k. It's all relative, never forget that.

But it sucks for people who bought at 19k, I am sure a lot of them sold eventually to settle for a loss. Probably the big majority. It's hard to take decisions in these moments, it's hard not to get emotional. History shows that during heavy dump, the best decision is to do nothing.

[Bossian]

Just curious, why silver and not gold?

Gold has been a better investment most of the time.

[SuperTA]

Bitcoin is in a bull trend. People calling for a bull trap don't realize that it just cannot be in the 8 month long bull trap. If this was the case and bitcoin turns bearish on the longterm chart, it would be the first time in bitcoin history. So it's very unlikely. When no coiners realize that, it will be probably too late for them.

Depends. At 50k it's still worth buying if it soon goes to 100k. It's all relative, never forget that.

But it sucks for people who bought at 19k, I am sure a lot of them sold eventually to settle for a loss. Probably the big majority. It's hard to take decisions in these moments, it's hard not to get emotional. History shows that during heavy dump, the best decision is to do nothing.

During the heavy dump from my experience the best decision is to dollar cost average your buy orders. Even in a bear market after the heavy dump it always makes a nice bounce up. In the bull market it's even easier.

[gembitz]

if buy at $35OO will i be ok? haa

[Bossian]

if buy at $35OO will i be ok? haa

Not sure why you mention that price to be honest. It's too late for 3.5k.

[Cryptotourist]

if buy at $35OO will i be ok? haa

Missed your chance for that I'm afraid.
Never mind though, you can buy @ $13500 & still be OK.

[vroom]

if buy at $35OO will i be ok? haa

Not sure why you mention that price to be honest. It's too late for 3.5k.

at $3500 a few months ago he was waiting for $1000

meanwhile there is a small sign of life, I see a tiny spike. will it grow to a massive green dildo?

[Bossian]

if buy at $35OO will i be ok? haa

Not sure why you mention that price to be honest. It's too late for 3.5k.

at $3500 a few months ago he was waiting for $1000

Of one of my close friends was waiting for $100, he is a total noob though but it was still funny to witness such naivety. Told him around $4000 that
 he should buy now, he didn't. Of course last month I received a Whatsapp message from him damn I should have bought

[bkbirge]

https://cointelegraph.com/news/bitcoin-fixes-this-thousands-of-fake-gold-bars-dilute-market-supply

As Reuters reported on Aug. 28, the gold industry is currently facing a forgery crisis — with fake kilogram bars found in the vaults of major banks such as JPMorgan Chase.

[Wilhelm]

https://cointelegraph.com/news/bitcoin-fixes-this-thousands-of-fake-gold-bars-dilute-market-supply

As Reuters reported on Aug. 28, the gold industry is currently facing a forgery crisis — with fake kilogram bars found in the vaults of major banks such as JPMorgan Chase.

Hope they are good at acting surprised

[realr0ach]

Just curious, why silver and not gold?

Gold has been a better investment most of the time.

1)  The gold to silver ratio chart highly favors silver

2)  Silver is the most artificially downward rigged commodity on the entire planet in the futures market and the goal is to buy low sell high
 
3)  There's something like 1/4th the amount of above ground silver now as during the 1980's metals bull run while there's twice as much above ground gold since then.  Hard to quantify the exact supply numbers, but they favor a massive silver spike moreso than gold in any type of 'free market'.

4)  To prevent silver from being depleted and disappearing like it's current trajectory, the price will eventually have to go to several hundred dollars an ounce to warrant recycling in things like electronics

5)  In any type of monetary metals revaluation, the west has a huge shortfall in gold with probably somewhere between 0 to 2000 tons only, so would likely attempt to buffer the gold shortfall with silver valued at a high ratio like 10-20:1 instead.

6)  All other things being equal, silver has better fundamentals than gold due to having more use cases.  Commodity money works under the context that if you hoard the entire supply, people somewhere actually need the commodity resource for something and you can ask whatever the market can bear.  Conversely, since Bitcoin is not a real commodity or resource, if you hoard all 21 million the entire planet can just laugh at you and you have no power over anyone or anything.

[SuperTA]

Bitcoin chart dec 2018 right before it bottomed

[bkbirge]

https://cointelegraph.com/news/bitcoin-fixes-this-thousands-of-fake-gold-bars-dilute-market-supply

As Reuters reported on Aug. 28, the gold industry is currently facing a forgery crisis — with fake kilogram bars found in the vaults of major banks such as JPMorgan Chase.

Hope they are good at acting surprised

I know, right? I'm sure it was a great run for them while it has lasted. I guess gold isn't as stable or trustworthy as it's made out to be, or at least the gatekeepers in charge of it aren't.

[gembitz]

Bitcoin chart dec 2018 right before it bottomed

bear tarp weeee

[realr0ach]

As Reuters reported on Aug. 28, the gold industry is currently facing a forgery crisis — with fake kilogram bars found in the vaults of major banks such as JPMorgan Chase.

I guess gold isn't as stable or trustworthy as it's made out to be, or at least the gatekeepers in charge of it aren't.

Total nonsense.  Even small coin shops and pawn shops have the electronics needed to test gold and silver 1/20th oz to kilo bars, let alone MEGA BANKS with billions of dollars at their disposal.  You can even test smaller bars and coins with a resonance ping test and android app on your cell phone.  If places like JP Morgan have fake metals - unless all of their employees are running around drunk and high on cocaine - it's not because they accidentally received them, it's because they're attempting to create fake tungsten bars to scam other people.

[Bossian]

Just curious, why silver and not gold?

Gold has been a better investment most of the time.

1)  The gold to silver ratio chart highly favors silver

2)  Silver is the most artificially downward rigged commodity on the entire planet in the futures market and the goal is to buy low sell high
 
3)  There's something like 1/4th the amount of above ground silver now as during the 1980's metals bull run while there's twice as much above ground gold since then.  Hard to quantify the exact supply numbers, but they favor a massive silver spike moreso than gold in any type of 'free market'.

4)  To prevent silver from being depleted and disappearing like it's current trajectory, the price will eventually have to go to several hundred dollars an ounce to warrant recycling in things like electronics

5)  In any type of monetary metals revaluation, the west has a huge shortfall in gold with probably somewhere between 0 to 2000 tons only, so would likely attempt to buffer the gold shortfall with silver valued at a high ratio like 10-20:1 instead.

6)  All other things being equal, silver has better fundamentals than gold due to having more use cases.  Commodity money works under the context that if you hoard the entire supply, people somewhere actually need the commodity resource for something and you can ask whatever the market can bear.  Conversely, since Bitcoin is not a real commodity or resource, if you hoard all 21 million the entire planet can just laugh at you and you have no power over anyone or anything.

Thanks for the constructive reply. That's what this forum is all about.

[fabiorem]

https://cointelegraph.com/news/bitcoin-fixes-this-thousands-of-fake-gold-bars-dilute-market-supply

As Reuters reported on Aug. 28, the gold industry is currently facing a forgery crisis — with fake kilogram bars found in the vaults of major banks such as JPMorgan Chase.

Why am I not surprised?

[gembitz]

https://cointelegraph.com/news/bitcoin-fixes-this-thousands-of-fake-gold-bars-dilute-market-supply

As Reuters reported on Aug. 28, the gold industry is currently facing a forgery crisis — with fake kilogram bars found in the vaults of major banks such as JPMorgan Chase.

...fake tether bars found    oooooohhLLol

[realr0ach]

(((Tether)))