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

[LFC_Bitcoin]

'The bottom' my arse.
Not yet sorry lads.
Look at the weekly, it's ugly out there.

Do you think?
I was going to make a significant buy yesterday but bottled it. If we go lower again I’ll definitely pull the trigger next time.

[El duderino_]

'The bottom' my arse.
Not yet sorry lads.
Look at the weekly, it's ugly out there.

Says the betting guy 

[JayJuanGee]

@Dabs then I got  my story wrong excuses..... I though you told to invested 50btc you held....

I wish I had traded them all, that would have been the correct move, in hindsight. I think I'd survive maybe 5 years just on BTC alone even if I never earned any more; I'd probably be looking for employment by the second year anyway so I could preserve as much of the BTC as possible.

I "earned" the alts, so it's not like money or fiat I had that I then invested into BTC or alts ... maybe everything was good for everyone a couple years ago and we all didn't see the winter coming.

Yeah, it’s still understandable when floating on some awesome incomes to keep onto them though sometimes need to secure some in the main asset of own believe.... and that should be BTC..... then again we all make mistakes, I made my major one as well.... 

Of course, there is an altcoin versus BTC lecture in there, but still BTC is risky as fuck in terms of volatility, so if you are going to retire you have to prepare for that and have a variety of income streams, and better if they are not really correlated at all to BTC, to the extent that you keep a decent portion of value (and expect income from it in BTC, too).  Seems to me that any kind of prudence would prepare for 90%, and possibly even more price corrections in BTC.. even if such price corrections might not happen in the future.. but we cannot really and realistically rule out such levels of correction in the future (even in the present).

[JayJuanGee]

'The bottom' my arse.
Not yet sorry lads.
Look at the weekly, it's ugly out there.

Don't tell me that you still have hope for your Hairy bairy bet?

I'm gonna have to bring out batman..., if someone else does not beat me to it.      

'The bottom' my arse.
Not yet sorry lads.
Look at the weekly, it's ugly out there.

Says the betting guy 

Well.. mic beat me to part of my point, absent the batman "snap out of it" meme... 

[Cryptotourist]

'The bottom' my arse.
Not yet sorry lads.
Look at the weekly, it's ugly out there.

There can be only one bottom.



Sik.

[Last of the V8s]

Don't tell me that you still have hope for your Hairy bairy bet?

I'm gonna have to bring out batman..., if someone else does not beat me to it.     

Nah that's long gone. Local bottom not yet found. Keep up Robin.

[JSRAW]

What is ownership rate?
9% of the population? What are we talking about? US? World?
No source data... looks like bullshit to me.

Yeah.. that is way to damned high, unless we are talking about a specific bitcoin saturated location... Even the USA that is supposedly more highly internet/bitcoin aware is lucky to have anything close to 5% overall, and maybe only achieving anything close to 9% in a few pocket cities, perhaps.

Main source
https://steemleo.com/cryptocurrency/@taskmaster4450/millennials-will-guarantee-cryptocurrency-success

[Cryptotourist]

I love you Emily.

[fillippone]

I love you Emily.

Is Emily #2? I thought I recognised her.

[bitserve]

This is fine.

That being said we won't be out of the woods until after $8K+.

[bitserve]

Coming out of retirement happens more often than you think. Not one in a million. I wasn't exactly retired a couple years ago, but then I was unemployed surviving on coins. Wasn't enough I guess.

IIRC, you played your cards really well (converted the altcoins into BTC at the peak) and ended with around 50BTC a couple of years ago. WTF did happen?

I didn't convert them all. That was the value if I had. So yeah .... right ... The alts were ... staking or getting rewards, and I lived off those rewards without eating into the principal, so in that sense I wasn't losing. But then everything crashed, so the alts weren't enough.

If I did convert it all, I would most likely still be unemployed today but it's a good thing I discovered all sorts of traditional financial investments because of that that I'd know better what to do next time and at least set aside some as a conservative investment in fiat, or as an emergency fund at least.

Other things happened in between, like exchanges literally dying as I was trading them, so lost some that way.

Sorry to hear that. I remember that, at the time, I though it was envious how well you played the up and downs, but I guess shit can always happen no matter what. 50BTC would still be a pretty healthy stash even at current prices.

I am not too much into alts, but I do remember how Byteball, for example, had an sky high valuation while it was paying "rewards" and then it dropped to almost nothing when it stopped doing it. I guess the moral of the story is that alts will always be alts and Bitcoin is the only safe (even if volatile) store of value.

[mindrust]

Everybody has gotten smarter since the last shitcoin mania which means shitcoins may never reach their ath prices again.

Bitsend used to be $2, burst was what? $0.1 or smth. They nearly lost 99% of their value.

The free bsd I got from the airdrop used to be worth nearly $2k. Now it is only worth a bottle of beer.

[jbreher]

It is faith in mathematics and rationality of the humans.
Still faith, but a lesser one.

Nah mate, you don't need faith in mathematics, that's an oxymoron. Faith is a belief in something you cannot prove, like religion as you said, but very much unlike math(s).

To be pedantic about it, all of mathematics lay upon lists of unprovable axioms.

[HairyMaclairy]

It is faith in mathematics and rationality of the humans.
Still faith, but a lesser one.

Nah mate, you don't need faith in mathematics, that's an oxymoron. Faith is a belief in something you cannot prove, like religion as you said, but very much unlike math(s).

To be pedantic about it, all of mathematics lay upon lists of unprovable axioms.

[JayJuanGee]

Coming out of retirement happens more often than you think. Not one in a million. I wasn't exactly retired a couple years ago, but then I was unemployed surviving on coins. Wasn't enough I guess.

IIRC, you played your cards really well (converted the altcoins into BTC at the peak) and ended with around 50BTC a couple of years ago. WTF did happen?

I didn't convert them all. That was the value if I had. So yeah .... right ... The alts were ... staking or getting rewards, and I lived off those rewards without eating into the principal, so in that sense I wasn't losing. But then everything crashed, so the alts weren't enough.

If I did convert it all, I would most likely still be unemployed today but it's a good thing I discovered all sorts of traditional financial investments because of that that I'd know better what to do next time and at least set aside some as a conservative investment in fiat, or as an emergency fund at least.

Other things happened in between, like exchanges literally dying as I was trading them, so lost some that way.

Sorry to hear that. I remember that, at the time, I though it was envious how well you played the up and downs, but I guess shit can always happen no matter what. 50BTC would still be a pretty healthy stash even at current prices.

I am not too much into alts, but I do remember how Byteball, for example, had an sky high valuation while it was paying "rewards" and then it dropped to almost nothing when it stopped doing it. I guess the moral of the story is that alts will always be alts and Bitcoin is the only safe (even if volatile) store of value.

The paying of rewards or interest are ways to trick people out of their bitcoins.  Lot's of previous BTC HODLers get tricked into no coiner status (or near no coiner status) due to these kinds of get rich quick or passive income (that is really not passive income) ploys.

Everybody has gotten smarter since the last shitcoin mania which means shitcoins may never reach their ath prices again.

I will believe it when I see it regarding 1) people actually getting smarter.  There is still a lot of dumb money out there given that BTC/crypto adoption is likely in the 1% of the population arena... 2) a decent quantity of shitcoins could still pump again.  Might not be all of the same ones, but there are some shitcoins that likely have pumpening skills to re-enliven their worthless zombie projects into pumpementalisms 2.0 or 4.0 or whatever revivalism version.

[jbreher]

ok, enough of this shitshow. I demand a pump! I demand the mother of all pumps! Nuke the alts, sacrifice the shitcoins as bitcoin fuel. go go go!

Good work, vroom.

[jbreher]

In further ass news tonight we can confirm that...


https://twitter.com/DaveVescio/status/1207028149873082368?s=20

...capitalists are assholes.

Nah, capitalism and free market will very soon produce a portable ad on that makes the seat level again.

I might suggest the voluminous employee manual be wedged between seat and bowl.

[bitcoinPsycho]

Now $100K? 

In one hour

[jbreher]

MAKE A CHRISTMAS PRESENTS THAT HAS VALUE

Give bitcoin to your dear ones.

If everyone did, we'd have a nice Xmas pumplet on our hands.

SO GET ON WITH SOME SERIOUS GIVING, FOLKS!

Always do.

[ivomm]

I am so calm and confident about Bitcoin, yet I couldn't sleep and decided to take a peek at the price - $7290! And earlier today we were free falling to $6400. This is very good bullish sign! And bakkt hit record highs again - over 6200 bitcoins put into contracts today! I guess some of them were bought in the last 24 hours, so bakkt has some impact on the price after all!

Edit. The price shot up to 7440 while I was writing!