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

[OutOfMemory]

You have limper wrists than men I've turned down at the bars, before Rick moseyed into my life.

Are you trying to say that Rick was the first to beat you at arm wrestling?  

#EDIT: And i mean REAL arm wrestling, not "arm wrestling", to all the homophobes that are reading this 

[mindrust]

I am suspecting that you bought some cheap alt...confess 

Got some LTC around but no big numbers.

Wow it is going nuts.

Good news is, my acquisition cost is now near zero. Bad news is I own only a fraction of what I had before.

When the price is nearing 10k I guess good news isn't actually good. Send this to 100k and I can get myself a tesla.   To the moon!

I am not sad for selling actually. I am sad for buying too much and becoming overinvested. Hopefully a mistake that I won't repeat again. We are still the early adopters right? Right? 

Your acquisition cost is near zero because you have a near zero amount of Bitcoin. How can that be any good news?

I really still don't understand why you went all out and then started to DCA instead of just having left the intended (even if just 1BTC) amount in... anyways, if you are happier this way then it's all good. Stress is a huge killer.

I dunno man I stopped thinking about it. I want to stop thinking about it.

I had that pause before I clicked that sell button at that night but you know It was already decided what to do when I transferred the btc to the exchange.

Then I realized I managed to hodl all that time because I wasn't checking charts every day and wasn't investing heavily. When these 2 things changed, my stress levels started to increased in time. I used to sleep well because I knew I wasn't overinvested and if bitcoin just collapses I wouldn't lose much and again, that feeling wasn't there when it fell down to $3k...

It is one of these times you really see what you really want.

I was calculating my networth in btc rather than usd in the last 6 months but that drop put me back in my senses. I realized it is the Dollars I really want, not btc. Btc is just an asset for me to increase my dollar amounts. It is just another stock. Nothing wrong with that and as we have seen, it moves with the stock markets too.

Good, so I can invest in the US stocks without having to bother with all the paper work. That's good, I guess. (probably not for btc itself)

[Digithusiast]

What happens if everyone would remove all their BTC selling orders for the next 48hrs?

[Hueristic]

The Market Cap of Bitcoin keeps growing and if we look at it from the Market Cap perspective then Bitcoin is already stronger than Vegeta even if Vegeta is in his God form . Go BTC GO !

To the Trillion $ Market Cap and Beyond !

Statements like this always let my mind "play" this track:
(One of the favourite bands/ tunes of my youth).

https://www.youtube.com/watch?v=Us104f-5vuM

And I raise you.

https://www.youtube.com/watch?v=tnhvvsMLcAI&list=OLAK5uy_kJBy3DBeQzvetbjJ5udfWYFHARO5BZjPI


@Mindrust: Fuck this shit, do whatever gets you through life without stress and the rest can go to hell. But if your gonna go all cry baby and dump at the bottom here your gonna get your ass pinked for it.

[mindrust]

Wow it is going nuts.

Good news is, my acquisition cost is now near zero. Bad news is I own only a fraction of what I had before.

When the price is nearing 10k I guess good news isn't actually good. Send this to 100k and I can get myself a tesla.   To the moon!

I am not sad for selling actually. I am sad for buying too much and becoming overinvested. Hopefully a mistake that I won't repeat again. We are still the early adopters right? Right?  

Sorry, but there is no way I can accept that you are not sad for selling...

Sad for losing potential big money? yes

Sad for getting out of a speculative asset which is being dominated by fake dollars (tether)? No.

Now my base cost near zero, I don't really care if it goes to zero. And that feeling is awesome. It would have been more awesome If I cashed %50 out at 10k instead of waiting for 4.5k but when you promote casinos in your signature for months, for years, it just gets into you.

[Elwar]

Then I would have to go back in in 2 days to put my sell order back at $99k.

Just in case.

[Hueristic]

What happens if everyone would remove all their BTC selling orders for the next 48hrs?

What sell orders?

I haven't had one of those in 2 over years.

[Hueristic]

Now my base cost near zero, I don't really care if it goes to zero. And that feeling is awesome. It would have been more awesome If I cashed %50 out at 10k instead of waiting for 4.5k but when you promote casinos in your signature for months, for years, it just gets into you.

I never did understand whats so wrong with promoting a casino?

Would you care to explain that to me and then explain why if it bothers you so much you lowered your values to the point of doing it when you had that stash already?

[mindrust]

Now my base cost near zero, I don't really care if it goes to zero. And that feeling is awesome. It would have been more awesome If I cashed %50 out at 10k instead of waiting for 4.5k but when you promote casinos in your signature for months, for years, it just gets into you.

I never did understand whats so wrong with promoting a casino?

Would you care to explain that to me and then explain why if it bothers you so much you lowered your values to the point of doing it when you had that stash already?

What's there to not understand, I wasn't investing in the last 4-5 months when I started to put big numbers. I started gambling. Those big btfd's wasn't in the original plan. I wasn't buying the fucking dips, I was killing myself.

[Hueristic]

Now my base cost near zero, I don't really care if it goes to zero. And that feeling is awesome. It would have been more awesome If I cashed %50 out at 10k instead of waiting for 4.5k but when you promote casinos in your signature for months, for years, it just gets into you.

I never did understand whats so wrong with promoting a casino?

Would you care to explain that to me and then explain why if it bothers you so much you lowered your values to the point of doing it when you had that stash already?

What's there to not understand, I wasn't investing in the last 4-5 months when I started to put big numbers. I started gambling. Those big btfd's wasn't in the original plan. I wasn't buying the fucking dips, I was killing myself.

I see, you couldn't handle gambling so you blame the casino's.

You should get a grip, it seems like you arn't handling things objectively.

BTW I've spent the larger part of my last 20 years in casinos and lose or win I know anything I put on the table is lost unless I get lucky and win it back.

You might want to try thinking in those terms and you will have a much more stress free life.

Gambling is for entertainment not income generation.

[mindrust]

Now my base cost near zero, I don't really care if it goes to zero. And that feeling is awesome. It would have been more awesome If I cashed %50 out at 10k instead of waiting for 4.5k but when you promote casinos in your signature for months, for years, it just gets into you.

I never did understand whats so wrong with promoting a casino?

Would you care to explain that to me and then explain why if it bothers you so much you lowered your values to the point of doing it when you had that stash already?

What's there to not understand, I wasn't investing in the last 4-5 months when I started to put big numbers. I started gambling. Those big btfd's wasn't in the original plan. I wasn't buying the fucking dips, I was killing myself.

I see, you couldn't handle gambling so you blame the casino's.

I am not blaming the casinos. There is a misunderstanding. It was my own fault. And the greed, that too.

Selling was stupid when price was that low but buying lots of before that was even more stupid. That's all I am saying. Anyway why am I here in this topic again, time to do more productive things.   Cya

[Hueristic]

You have limper wrists than men I've turned down at the bars, before Rick moseyed into my life.

Are you trying to say that Rick was the first to beat you at arm wrestling?  

In a manner of speaking, I obliterated Rick at arm wrestling, and he responded with "Sir, may I have another ?"

We sorta, uhh... connected... after that.

Bob, why do I think of this guy when I think of you?


https://www.youtube.com/watch?v=AjPBp6DOwgU

[eXPHHorizon]

Is it just me or i see BTC more like this guy ?

https://www.youtube.com/watch?v=NJwMbbP1MpM

His aura is green and his power is limitless which makes even Vegeta shit himself  

[bitserve]

Is it just me or i see BTC more like this guy ?

https://www.youtube.com/watch?v=NJwMbbP1MpM

His aura is green and his power is limitless which makes even Vegeta shit himself  

No way. Bitcoin IS this guy:

https://www.youtube.com/watch?v=c36UNSoJenI

[OutOfMemory]

You have limper wrists than men I've turned down at the bars, before Rick moseyed into my life.

Are you trying to say that Rick was the first to beat you at arm wrestling?  

In a manner of speaking, I obliterated Rick at arm wrestling, and he responded with "Sir, may I have another ?"

We sorta, uhh... connected... after that.

+1 WOsMerit  

You could have held 1 BTC, instead of losing your freaking mind, and selling out like a drag queen in Manhattan.

I guess only gentlemand could have said something like this in a more imaginational way.
(i hope that's the right wording, i mean in a way of strong visual representation of a thought)

[Arriemoller]

I am going to post something quite unpopular.  It will make some people mad at me.  This is not certain, but I would say it is a 50/50 probability right now.  I sincerely hope I am wrong, but I am worry that I am not.  

The US has dun goofed its coronavirus response.  The US locked down too slow, and now it is reopening up too fast.  With the exception of New York, case rates are still rising in every state.  Nebraska, which reopened on Monday, reported a 57% case rate rise in the past 7 days.  In saying this I acknowledge that testing levels are so low it is hard to work out what is really happening except we know there are superclusters at the meatworks which are not closing because they have been deemed essential.  

We have extremely bad economic data.  On some readings, the data is worse than the Great Depression.  This puts the political leadership at both State and Federal level under enormous pressure to reopen.  So I can understand why they are doing it, particularly given there is not the appetite for the social welfare schemes which have been rolled out in other countries to support workers staying in their jobs.

But know this.  By half-arsing the lockdown and pulling out too early, and then triggering a crushing second wave in late summer / early fall, the economy will get refucked.  The number one mistake is thinking that fighting the virus and supporting the economy are mutually opposed aims.  They aren't.  Crush the virus and you can have a thriving economy back.  Surrender to the virus and you also surrender your economy.  Because when your hospitals overflow and your doctors are all dying and there are bodies in the street, there will not be a functioning economy.  Reopening now, before adequate testing and tracing is available, and while case loads are still rising, is an act of surrender.  

The consequences are not going to flow immediately.  Things are going to feel just fine through the next couple of months of summer.  It will be warm out.  People will say that the warm weather killed the virus.  Everyone will be outdoors, drinking beer and having a nice time.  Food and bev will start to do a roaring trade again.  People will think we are winning.  There will be cluster outbreaks which will be blamed on poor management by the Governors.  Some regional hospitals will be overwhelmed, but they will be a long way away.  

But come late summer or early fall, shit is going to start to become visibly bad.  We know the second wave of the Spanish Flu killed far more than the first wave.  195,000 Americans died of the Spanish Flu in the month of October 1918.  There are 328 million people in the US.  The Lancet estimates the Case Fatality Rate of coronavirus at 1.38%.  Australia's actual Case Fatality Rate is 1.33%, which is one of the lowest CFRs in the world, reflecting a world class health care which is not under stress and massive testing, increasing the size of the denominator.  If half of the US population catches coronavirus, and the CFR is optimistically 1.33%, then that is 4.3 million deaths across America.  If the hospitals collapse, the death toll has the potential to get much higher.  

I think the reality is we will not get there, and there will be a series of smaller state level, or town level lockdowns.  This rolling wave of small lockdowns will fuck the economy good and will spark open conflict between the White House and State / local government.  

What does this mean for Bitcoin?  I believe that Bitcoin is still predominantly driven by US retail demand.  I also believe that there is at least a 50/50 chance that the US economy will be fucked good between now and November.  The confounding factor is that the halvening will reduce supply by 50%.  Normally I would regard this as a sure thing, but it needs to be balanced against a possibly very sick US economy.  Further complicating matters, just about every other developed country in the world has managed to figure out how to beat the virus and will be back on the path to recovery behind locked borders.  People in those countries will be able to buy Bitcoin.  

My conclusion is that we should not expect an ATH this year, and there is a 50% chance that we will not see the AYH again of $10,501 set in February 2020.  Volatility will likely stay very high, which means the opportunity to profit from extreme swings and also opportunity to be liquidated if you are using anything other than very low leverage (less than 1x leverage).    So be defensive and don't hold open long positions past the halvening.  

Good luck and stay safe.  

A. Sweden disagrees
B. The actual fatality rate among infected is somewhere between 0,36 and 0,2 according to the latest studies in Europe.

[JayJuanGee]

This is a food distribution center (bread line) in Las Vegas.



I have to note that every single car there is much nicer and newer than anything I own.

Hm.

A possible interpretation is that people who have otherwise led comfortable middle class lives their entire life are suddenly on the bread line through no fault of their own.

Or maybe they did overspend in the car (and presumably other things too) if they don't have enough savings for at least a few months.

In the USA, outside of the BIG cities, almost everyone owns a car, even poor people.  

Typically, a beaten up truck, NOT a LEXUS, and it is in the middle of the sin city, but i get your point...someone could be just one paycheck away from losing that vehicle to a repo-man.

If you need to buy a car with credit that's not the car you should be buying. You can buy perfectly nice and working used cars of any type just for a few thousands in cash. Even some mid-high end ones for a couple tens.

Almost the only thing reasonable to buy on credit is real estate... and that after careful planning and consideration.

And, as I said, someone that does that probably also overspend in many other things.

I would rephrase the concept of buying on credit, and there are ways to use credit in such a way that magnifies any persons ability to get wealthy or to stay way more wealthy than s/he would have otherwise had been capable by ONLY using his personal (not related to credit) resources.

In other words, any asset that is either able to appreciate in value faster than the credit rate would be a good way to use credit, and of course, part of the trick is projecting properly, and when any of us uses credit in terms of attempting to magnify our wealth, we are adding an additional level of risk that is pays off way better if we end up being at least somewhat directionally correct in our assessments of our investments.. including timeline for paying the debt or defaulting on it... there are some people who get rich by defaulting on their debt, but those tend to be the most rich fucktwats rather than regular people.  Regular people should probably avoid situations in which they are either defaulting on their debt or incurring penalties because of their poor management of their debt.

In the case of a car purchase, surely there are going to be some cars that hold their value better than others, but sometimes there might be reasons to either buy new or to upgrade to a luxury version (leasing or short term rental could accomplish some of this, too), such as in a business context in which you might be trying to send a certain kind of message in terms of your credibility or your level of wealth/status (scammers do this, too, but such message sending purposes for luxury are NOT necessarily scammy in and of themselves but could be good business in certain contexts, depending on intended audience(s)).    

[edited out]

You (should) only use credit to SAVE (ie: to own a property instead of renting for the same monthly amount or even lower) not to SPEND more. Doing otherwise is nuts and usually the reason why people with a more than healthy income are constantly in the verge of bankruptcy.

Cannot disagree with you here, bitserve.  Difference between kinds of uses of credit, whether it is investing or consumption, and surely use of credit for investment is better than use of credit for consumption.

[Biodom]

I am going to post something quite unpopular.  

A. Sweden disagrees
B. The actual fatality rate among infected is somewhere between 0,36 and 0,2 according to the latest studies in Europe.

You cannot judge this based on one country experience. One country could differ because of a multitude of parameters (demographics, genetics, weather, humidity, obesity, etc). Also, anecdotal evidence is not really evidence.
Here is a real study (by countries):
https://coronavirus.jhu.edu/data/mortality

Mind you, the REAL number (%%) is certainly lower due to asymptomatic cases that we don't know about.
Obtaining a correct denominator vs number who did not have it yet is VERY difficult considering that in US, for example, very few of the non-admitted to hospital populace has been tested for either CV OR antibodies.

[OutOfMemory]

I am going to post something quite unpopular.  It will make some people mad at me.  This is not certain, but I would say it is a 50/50 probability right now.  I sincerely hope I am wrong, but I am worry that I am not.  

The US has dun goofed its coronavirus response.  The US locked down too slow, and now it is reopening up too fast.  With the exception of New York, case rates are still rising in every state.  Nebraska, which reopened on Monday, reported a 57% case rate rise in the past 7 days.  In saying this I acknowledge that testing levels are so low it is hard to work out what is really happening except we know there are superclusters at the meatworks which are not closing because they have been deemed essential.  

We have extremely bad economic data.  On some readings, the data is worse than the Great Depression.  This puts the political leadership at both State and Federal level under enormous pressure to reopen.  So I can understand why they are doing it, particularly given there is not the appetite for the social welfare schemes which have been rolled out in other countries to support workers staying in their jobs.

But know this.  By half-arsing the lockdown and pulling out too early, and then triggering a crushing second wave in late summer / early fall, the economy will get refucked.  The number one mistake is thinking that fighting the virus and supporting the economy are mutually opposed aims.  They aren't.  Crush the virus and you can have a thriving economy back.  Surrender to the virus and you also surrender your economy.  Because when your hospitals overflow and your doctors are all dying and there are bodies in the street, there will not be a functioning economy.  Reopening now, before adequate testing and tracing is available, and while case loads are still rising, is an act of surrender.  

The consequences are not going to flow immediately.  Things are going to feel just fine through the next couple of months of summer.  It will be warm out.  People will say that the warm weather killed the virus.  Everyone will be outdoors, drinking beer and having a nice time.  Food and bev will start to do a roaring trade again.  People will think we are winning.  There will be cluster outbreaks which will be blamed on poor management by the Governors.  Some regional hospitals will be overwhelmed, but they will be a long way away.  

But come late summer or early fall, shit is going to start to become visibly bad.  We know the second wave of the Spanish Flu killed far more than the first wave.  195,000 Americans died of the Spanish Flu in the month of October 1918.  There are 328 million people in the US.  The Lancet estimates the Case Fatality Rate of coronavirus at 1.38%.  Australia's actual Case Fatality Rate is 1.33%, which is one of the lowest CFRs in the world, reflecting a world class health care which is not under stress and massive testing, increasing the size of the denominator.  If half of the US population catches coronavirus, and the CFR is optimistically 1.33%, then that is 4.3 million deaths across America.  If the hospitals collapse, the death toll has the potential to get much higher.  

I think the reality is we will not get there, and there will be a series of smaller state level, or town level lockdowns.  This rolling wave of small lockdowns will fuck the economy good and will spark open conflict between the White House and State / local government.  

What does this mean for Bitcoin?  I believe that Bitcoin is still predominantly driven by US retail demand.  I also believe that there is at least a 50/50 chance that the US economy will be fucked good between now and November.  The confounding factor is that the halvening will reduce supply by 50%.  Normally I would regard this as a sure thing, but it needs to be balanced against a possibly very sick US economy.  Further complicating matters, just about every other developed country in the world has managed to figure out how to beat the virus and will be back on the path to recovery behind locked borders.  People in those countries will be able to buy Bitcoin.  

My conclusion is that we should not expect an ATH this year, and there is a 50% chance that we will not see the AYH again of $10,501 set in February 2020.  Volatility will likely stay very high, which means the opportunity to profit from extreme swings and also opportunity to be liquidated if you are using anything other than very low leverage (less than 1x leverage).    So be defensive and don't hold open long positions past the halvening.  

Good luck and stay safe.  

A. Sweden disagrees
B. The actual fatality rate among infected is somewhere between 0,36 and 0,2 according to the latest studies in Europe.

Not this again...
Most of these fatalities stay one or two weeks in a hospital, take up quite some resources like ventilators and have to be quarantined in ICUs.
Do you grasp the gravitiy of this?

[OutOfMemory]

The Market Cap of Bitcoin keeps growing and if we look at it from the Market Cap perspective then Bitcoin is already stronger than Vegeta even if Vegeta is in his God form . Go BTC GO !

To the Trillion $ Market Cap and Beyond !

Statements like this always let my mind "play" this track:
(One of the favourite bands/ tunes of my youth).

https://www.youtube.com/watch?v=Us104f-5vuM

And I raise you.

https://www.youtube.com/watch?v=tnhvvsMLcAI&list=OLAK5uy_kJBy3DBeQzvetbjJ5udfWYFHARO5BZjPI

Bad Brains! This is the album i stumbled over in record shops regularly back then, it was advertised a lot in the skate magazines, but i still somehow refused to give it a listen.
Years later, i couldn't remember that band and album title, and it made me mad that i didn't have a second chance to find out how it sounds.
I only reminded that album cover...
I can't thank you enough for posting this today, dude!