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

[Toxic2040]

Bitcoin crosses $10k resistance in another strong day.  #dyor

cat climbs tree
4h


the first leg done yet the journey continues onward..up the hill..one step at a time
D

#stronghands

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[JimboToronto]

I use bitcoinaverage. Just seems sensible to use something like that.

You may have noticed that I use Bitcoinaverage in my morning greetings. I feel that an index of multiple exchanges gives a much more accurate price than any individual exchange and no index uses more exchanges worldwide than Bitcoinaverage. It's weighted by volume omitting no-fee exchange volumes.

It's also the price basis for the vast majority of Bitcoin ATMs, at least in Toronto. This is real world pricing.

As for using an individual exchange, Bitstamp is the obvious choice. No shenanegans, just honest trades. My main OTC connection in Toronto uses Stamp, presumably to maintain fiat/Bitcoin balance via their API. It's the exchange of pros.

[STT]

I need $11,000 BTC for obvious reasons. (do the math).

$11,600 was my seemingly far too optimistic guess for El duderino_ 's last contest however that closed at April start and in these brief weeks I've gone from being completely incorrect into possibly maybe in the right area for a price on the actual block reward event.     I did recently guess an April end event bet correctly as being slingshotted into the 200 DMA area which gave me a little bonus, I should have had more confidence and doubled that bet as the market itself is lacking none at present

10491 was the previous peak price in this year and alot of weekly bars closed off here in the last year,  some traffic then.

[TheJuice]

Ahh, so excited to witness my 4th great bull run. strap in. hodl on.

[infofront]

Ahh, so excited to witness my 4th great bull run. strap in. hodl on.

Same here, but it seems we're just beginning the slowly-grinding-upwards phase. I'm assuming the real insanity won't start this year, but we could get a new ATH by EOY.

[jojo69]

whelp...the top is in

hello 3K

[Toxic2040]

whelp...the top is in

hello 3K

[Arriemoller]

xhomerx10 new hat idea for Hodlers..
Artist: Yegor Petrov https://twitter.com/yegorpetr0v/status/1258047027893735431

 Oooo that's nice!

That would make a nice pin, (without the mask of course).

[jbreher]

Everyones shitting on the idea that we will bart down.. that just gives me more confidence that im right

Why? Because many experienced Bitcoiners think you're full of it?

Experienced bitcoiner =/= experienced trader

Note that your (in)equation obeys the reflexive principle.

The trail of the dead in Bitcoindom is populated with many conventional traders that think their previous success in other markets uniquely qualifies them to apply the same principles to Bitcoin.

[Hueristic]

^^ damn, filter out the plague panic and we are right on track

It was necessary.  We needed the volume spike to seal the bottom of the bear market. 

We only had to sacrifice mindrust to seal the bottom. 

Yep.

Sad.

We tried NOT to do it..    

He threw himself on the sword.

[Icygreen]

5 figures pleases me

Purse.io still being open pleases me.

Just put in an order my wife has been preparing for the past month. Though the low price gave me an excuse to tell her she couldn't shop.

As much as I like the idea behind Purse... I can't support it now with slimy old Ver being involved. Any money lining his pockets is money used to try to twist narratives against BTC in my book

Not sure we should be concerned who invests or operates purse but ya, Roger has been a doink in the past and if he can create more incentive to use Bitcoin through purse, all the power to him.  I won't stop using purse because Roger has a stake, in fact I'd like to support him and perhaps this could be a redeeming and very constructive opportunity for such a guy.

[jbreher]

* BobLawblaw raises a beer and toasts the thread

HODL.

::clink!::

[Raja_MBZ]

~snip~

I'm trying to give you some benefit of the doubt... if you happen to NOT recognize any difference between leveraged trading and futures and margin and other shenanigans, then maybe there is not a lot that can be done for you...

Oh Gawd... you literally took it all the way from just price referencing to trading. I've been through all of those trading types that you've mentioned; however, do you even know that BitMEX uses the following weights to maintain and come up with a single value?



This is pretty much equivalent to:

I use bitcoinaverage. Just seems sensible to use something like that.

You may have noticed that I use Bitcoinaverage in my morning greetings. I feel that an index of multiple exchanges gives a much more accurate price than any individual exchange and no index uses more exchanges worldwide than Bitcoinaverage. It's weighted by volume omitting no-fee exchange volumes.

And, fuck off with your nonsensical lil AI assertion(s).....

Mr. JÆJuanGee, that's just like your opinion man... Not everyone picks out the exchange name from someone's post and starts criticizing it in a separate post at a time when bitcoin's crossing a very strong psychological number.

[JayJuanGee]

^^ damn, filter out the plague panic and we are right on track

It was necessary.  We needed the volume spike to seal the bottom of the bear market.  

We only had to sacrifice mindrust to seal the bottom.  

Yep.

Sad.

We tried NOT to do it..    

He threw himself on the sword.

That's a better way of saying it.

We could try to paint him as a saint, even though his words are probably going to undermine such status, because in essence, he thought that he was doing the sacrifice for himself, when in the end, the sacrifice ended up being for the rest of us.  He likely did not benefit much, if at all, from such a move, even though mentally he then believed that he did, and even currently, he will likely continue to rationalize his behavior in terms of being better for himself, which really takes a stretch of the imagination to come to such conclusions.

In the end, there were likely quite a few mindrusts in that last round, yet so far, mindrust has been the ONLY one to really come out and admit it and even to elaborate on his thinking around the topic.

Even though it is seeming a lot less likely that we are going to get a sub $3k correction in which he was planning, it is quite possible that we could get another really BIG correction that kind of coincides with other shit-hits-the-fan macro circumstances, .. but the farther that BTC prices go up, the harder it seems that it is going to be to have any kind of meaningful correction that really allows someone like mindrust to recuperate his previous position.. which as everyone likely recalls was selling in the mid $4ks, so I would consider even buying back anywhere close to $6k as a great recovery, under these particular current market circumstances.

One of the benefits of this whole situation, likely causes an ability for a quite a few guys (and perhaps a gal or two, too) to actually learn from the so many specifics of what mindrust provided to us, and probably our beating to death his situation has saved a few guys (and maybe a gal or two, too) from preparing themselves better in order to try to avoid getting into such a place (pickle) where they believe such a mindrust-like outcome will happen to them.  

[jbreher]

Seriously? I know that most of the WOers have been following Bitstamp since the creation of the thread but... when did we make Bitstamp a "standard" for the price reference?  

We didn't. JiGgly just likes to see him/herself type.

[JayJuanGee]

~snip~

I'm trying to give you some benefit of the doubt... if you happen to NOT recognize any difference between leveraged trading and futures and margin and other shenanigans, then maybe there is not a lot that can be done for you...

Oh Gawd... you literally took it all the way from just price referencing to trading. I've been through all of those trading types that you've mentioned; however, do you even know that BitMEX uses the following weights to maintain and come up with a single value?

You won't give up, will you.  You are doubling down on dumb.  That's just great.

This is pretty much equivalent to:

I use bitcoinaverage. Just seems sensible to use something like that.

You may have noticed that I use Bitcoinaverage in my morning greetings. I feel that an index of multiple exchanges gives a much more accurate price than any individual exchange and no index uses more exchanges worldwide than Bitcoinaverage. It's weighted by volume omitting no-fee exchange volumes.

And, fuck off with your nonsensical lil AI assertion(s).....

Mr. JÆJuanGee, that's just like your opinion man... Not everyone picks out the exchange name from someone's post and starts criticizing it in a separate post at a time when bitcoin's crossing a very strong psychological number.

Oh you are so fucking excited about the BTC price going up, so now all of a sudden you have to get sloppy and start referring to some manipulated exchange as if it were the reference price. 

When the BTC price is moving around a lot, it generally becomes more important to refer to a solid BTC price reference .. and frequently when the BTC price starts to move even more, the BTC prices get more and more out of alignment....

Of course, it could be possible that exchanges are NOT going to get out of wack, as much because the BTC market is getting BIGGER - but it is NOT too likely... and it is likely we are ging to continue to have shenanigans on various exchanges, and sometimes those price differences become an actual topic to discuss.. and try to figure out why price differences are happening. 

You were not trying to figure out BTC price differences in various locations.  Instead you were referring to the Bitmex BTC price as if it were an accurate reference price.... get a grip.. .and try to accept the 2015 Las Vegas agreement (or whatever the fuck it was called).. as mentioned by jojo (provided for your ease of reference, below).

when did we make Bitstamp a "standard" for the price reference?

the Vegas Accords of 2015

look it up

Otherwise, just try meditating.  That might help, too.

  You will thank me later for providing such help to you.. at least, you will be thankful on the far and deep inside.

[Millionero]

By the way, cafetools, if you cash out decent portions of your BTC along the way up to $20k or even $50k, if you get over anxious about cashing out too much too soon, then you may well run out of corns at various higher valuations.

You can avoid that problem by observing a Shannon rebalancing strategy.  Rational investing, or speculating, is about sizing your bets.  Kelly criterion illustrates the principle.
Then again, if corn hits $200k next year, I'm going to violate my own advice and sell most of my stack.

[Raja_MBZ]

Seriously? I know that most of the WOers have been following Bitstamp since the creation of the thread but... when did we make Bitstamp a "standard" for the price reference?  

We didn't. JiGgly just likes to see him/herself type.

Oh Gawd, I wish I could merit you but I won't. JÆ seems to be one of my merit fans; I don't wanna hurt one of my precious merit fans!

@JayJuanGee, we're in a deadlock. Continuing the discussion on this won't be of any use. Let's just keep it aside!

[JayJuanGee]

Seriously? I know that most of the WOers have been following Bitstamp since the creation of the thread but... when did we make Bitstamp a "standard" for the price reference?  

We didn't. JiGgly just likes to see him/herself type.

Yes, of course we are going to get agreement from jbreher... It's like jbreher is a great example of someone ready, willing and able to reach consensus...  right?  right?  right?


.....like when hell freezes over, for example.



This one is for you, jbreher.  Sorry; I had to do it.



You will thank me later.   

[Raja_MBZ]

I just literally merited both of you...