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

[JayJuanGee]

[edited out]

[edited out - distasteful recommendation] ... or less painful way: rebuy at ~$5-6-7k and become a millionaire within the next 12-24 months.

You really think that we are going to reach sub $7k prices?

are you suggesting that mindrust should set buy orders at three different levels?  $5k, $6k and $7k?

What if we never see sub $8k again?

Very difficult to be recommending what someone else does, especially when they already decided to go upon another course of action.

Frequently, I will recommend that anyone who is eager to get into bitcoin set up a plan that involves dividing their investment budget into 3 parts, and then my recommendation would elaborate from there - however, before I can even get to any kind of meaningful stage of elaborating upon my recommendation, the person has to be receptive to actually getting into bitcoin... does not seem that mindrust is receptive.. .or at least, he has specifically rejected quite a few suggestions, beyond his own thinking about DCA-ing about $50 per week and maybe some other largely non-disclosed (and somewhat vague and ambiguous) tactics that may involve shitcoins.. not that I am inviting him to tell us about any details that involve him pumping his shitcoins, in this thread.

[GaretJohanKay]

Since this time are more miners and future contracts, even if bitcoin falls under $5000 don`t will be there much time. The psychology of the market maybe will make that the people hodl, more time than other times. But if with this crisis  large reputed investors intereset in bitcoin like the case with Tudor, That will become a new resistance and also the use case that cryptocurrency is bringing all over the world. So I think the trick here is find the fundamental reisistance

Seems to me that when you use the word resistance, above, I think that you are meaning to use the word support.

When we refer to the lowest price that we believe the BTC price can go and it being held up by that, we are referring to support. 

When we refer to the highest price that we believe the BTC price can go and it being unable to go above that, we are referring to resistance.

Yeah, thanks for pointing out.

[JSRAW]

[edited out]

[edited out - distasteful recommendation] ... or less painful way: rebuy at ~$5-6-7k and become a millionaire within the next 12-24 months.

You really think that we are going to reach sub $7k prices?

are you suggesting that mindrust should set buy orders at three different levels?  $5k, $6k and $7k?

Its not a bad idea though..

I do have couple of buy order at lower levels, can wait 5-6 months. Who knows if we get to see another flash sale, anything is possible. if not then who cares.

[GaretJohanKay]

So today I had a bit of a heart thumper...

I run nodes.  Because I think it is important to run nodes.  Do I think everyone should? No.  Just like I think many of the thoughts of the crypto community (yes i said CRYPTO, JJG) are pie in the sky idealism with ideas like "being your own bank" or citadels.  Lol.

It's not that you have to. It's that you CAN that is the revolution. You CAN be your own bank.  You CAN run a bitcoin node.

Well i was cleaning up the studio a little today to make room for this thing which fedex delivers today:


And I happened to glance at one of my lightning nodes.  It's running on a rPi and has a itty bitty screen that just lets mne know it's all good.

give root password for maintenance or press ctrl+d to continue

Oh, shit.

Quick log into 1ml.com and go look at my node.  Last update?  7 days ago.  Dang it! 

• How did I let that slip by so long???
• What is the expiry on the HTLCs for this one?  Did I happen to set them to a week?
• What if the damn HDD is toast?
• Did I remember to set up the channel backups?
• If so did I do it properly?
• Where is my seed for this one again?
• What version of LND/bitcoind/rtl/etc am I running again?

So then I downloaded puppy linux, used rufus to set it up on some trash USB thumbdrive booted, plugged in the HDD, and tried to mount. 

"Cannot mount. Structure needs cleaning."

Oh, thank God.  This is probably just a borked filesystem from a power outage I didn't notice.

fsck -y /dev/hdd1

Repaired.

mkdir ~/ln
mount /dev/hdd1 ln
Filesystem mounted.

la -la

etc...

Whew...
mkdir /mnt/windowsdisk/ln
cp -fR ln/ /mnt/windowsdisk/ln/

Go get coffee...

It backed up... Shut it down properly, umount it, power up the rPi again...



Whew...

So, yeah.  Nothing was ever all that wrong.  There was no catastrophe.  I was able to get it up and running easily, it was the absolute least bad thing that could even have happened.

But here's the thing.  I know what I am doing.  I mean where am I on the continuum from enough-to-be-dangerous------------the-guy-you-should-call? Probably pretty solidly on the left hand side over there.  But that's just it.  Running a lightning node is technically complex for most people, even one like this using an out of the box product (raspiblitz... can't say enough good about it.  Solid and well done, although I have upgraded lnd and rtl manually... can't help it).  My other LND note was built fully from scratch (well, not LFS, but Arch), and if it just had not been one of the first 200 nodes... EVER... I think I would take it down and replace it with another one of these. And you know, I just might take it down and be DONE with it.

Why?

Doing this is still risky!  It is still overly complicated.  If you are not behind TOR you are running a effing hotwallet on a public IP out in the open with experimental bitcoin smart contracts holding (in my case) waaaaay more value than I would feel comfortable losing.

Be your own bank, run your own node, build your own citadel... These are pie in the sky ideals.

Most people are going to STILL NEED BANKS.  Most people are going to find it best to hire professionals to safeguard their money.

Again, the revolution is not that you HAVE to take all this responsibility yourself... it is that you CAN.

Anyway.  Be careful out there fellow edge cutters.

And here's to the bull run that is still just barely getting cranked up!  I have a feeling in a year or so this is going to be a pretty smug group.

 

Whoa, Well, from that viewpoint it seems pretty complicated. But if I make an analogy with the development of Linux maybe in the long term there will be GUI`s more user friendly like Ubuntu

[jojo69]

doooom

[podyx]

Woah... Any news??

[jojo69]

Woah... Any news??

bitcoin is dead

[HairyMaclairy]

Wheee

[podyx]

[soullyG]

[heslo]

Timberrrrrr

[bkbirge]

Yikes, flash crash, more shenanigans. Guess the big boys aren't done accumulating.

[jojo69]

important level right here

bounced off the old resistance line at 8100

[eddie13]

wtf is this?

[HairyMaclairy]

Would be lovely to think this is washing out the leveraged longs before a mega pump

Sadly I think that is wishful thinking

[jojo69]

wtf is this?

I believe the technical term is "shitfuckery"

[bkbirge]

wtf is this?

It's Peter Schiff, he just learned javascript and wrote a bot.

[HairyMaclairy]

wtf is this?

It’s the hype evaporating from the halvening rally

[Dakustaking76]

Damn 1k down fuckkkkkkkk

[_javi_]

I´m about to puke..

We dont deserve this 2 days before halving..