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

[JimboToronto]

Good morning Bitcoinland.

Taking a bit of a breather from the steady rise after the halving... currently $9604USD/$13520CAD (Bitcoinaverage).

Back to 5 digits soon?

This seems kind of crazy to me, like an alcoholic who can't find a beer turning to rubbing alcohol...
https://cointelegraph.com/news/forget-btc-price-its-now-possible-to-trade-bitcoin-hash-rate-futures

seems like straight up gambling?

Obviously.

Gambling is a ruthless addiction.

[Toxic2040]

Good morning Jimbo


Filthy degens..some of the instruments that show up...smh.


--------
the wall report

Good morning to the rest of you as well.

early bird charts hot of the griddle..dyor



raptor bangs nose on wall
1h


squirrel jackknifes to water
4h

[Krubster]

Gambling is a ruthless addiction.

It certainly is. Here is a good read on the subject, posted yesterday in the bitcoin trading sub on reddit

Between 2015-2018 I lost 7500 ETH, 99.5% of my ETH because of margin trading.

It starts by just using 10% of your ETH, you think, oh thats cool I can take what took me months to save instantly and make profit with hard earned money that I didn't work for....this is a miracle!

And then you lose it. You have 90% of your ETH.

You now decide to take out 20% to get back that 10% back faster, but after a few weeks, you lose that 20%.

You now have 70% of your original ETH.

You say, fuck it, I'm going to use all 70% using really low leverage so I can't get liquidated.

Nope, doesn't work, you get weak hands and sell for a loss over a few trades.

Down to 60% - 65%.

Now you think, FUCK, but the fear hasn't hit you yet.

6 months have gone by, your now down to 50%.

You loss consumes you, you are pissed, you are angry, frustrated, extremely tired and disillusioned. But you are going to make it back, I don't give a FUCK I will die making it back if I have to.

3 months pass. 50% down to 25%.

Another year passes, 25% down to 10%.

Another 6 months pass, 10% down to 5%, now you understand finally that you have become addicted. It has taken everything, your energy, your health, your relationships, your career, your happiness, your love, everything is grey.

But you have no choice. I have to use 10x leverage now to ever have a shot at recovery. To regain what was 'mine'.

5% down to 0.5%, (that's another 90% down even if just 4.5% down in the grand scheme of things).

You accept defeat. You let your ego get the better of you.

What started off as fun, has ruined your life. You are suicidal, you called a gambling hotline and cried to the operator, you think about taking your life every hour of every day. Everything is heavy, and black, and there is no light at the end of the tunnel.

You do not have the energy or will-power to recover. If you cannot get out of bed until noon because sleep is your only escape, how will you regain your career, your health, your finances, your relationships, your energy, your relationships.

Now, you have the greatest War ever envisiged ahead of you, but you are alone, and you cry for help, but there is nothing. You must fight this.

If you do not, and you let this consume you any longer, you will die.

Either through suicide, or by letting addiction take you, because it is there for you when nothing else is. The food will comfort me, the video games will soothe my sorrows, the sleep will provide the escape I desire from reality.

What started as a simple, fun, margin trade......

Has turned you to the brink of suicide. The only light seen at the end of the black eternal tunnel.

Stop. Now. You can turn this around right now. It doesn't matter if you are 50% down, or 90% down. You can choose happiness right now. Right this very second you can decide to take it off all the exchanges, into a hardware wallet and never look back.

You will be visited by anger, regret, and unending thoughts of 'If Only I did That Instead', but it will pass.

You will forgive yourself, even if you don't love yourself right now, you will learn to love yourself.

Remember that you are human, and everyone must learn the darkness of greed and heedlessness, whether that be early in life, or on their death bed, everyone must learn.

So take your lesson now. You are not alone, you will be stronger for this.

Let the tears roll down your cheeks, welcome the grief. Meet the sadness and darkness that you have been pushing back all this time. Let the dams break and flood the dry barren land below.

Welcome your grief and let it work through you with acceptance, let it come, let it be.

And through it, you will be reborn.

Months will pass, and eventually, you will be ready to love yourself again. You will be ready to try again, this time, armed with wisdom and compassion for yourself and all living beings in this world.

You will become a greater man. A man of kindness, compassion, and wisdom, that can only be born through understanding darkness.

You passed the test, you have grown.

DO ~~~~ NOT ~~~~~~~ MARGIN TRADE~~~~~

DO ~~~~NOT~~~~~~~~LEVERAGE~~~~~~~~~~

DO ____NOT_____TRADE

STOP RIGHT NOW, DONT READ ANYMORE COMMENTS, EXIT THIS PAGE AND GET IT ALL OFF THE EXCHANGES RIGHT NOW

Choose happiness.

Choose life

https://old.reddit.com/r/BitcoinMarkets/comments/gjexw5/daily_discussion_thursday_may_14_2020/?sort=top

[vapourminer]

Good morning Bitcoinland.

Taking a bit of a breather from the steady rise after the halving... currently $9604USD/$13520CAD (Bitcoinaverage).

Back to 5 digits soon?

This seems kind of crazy to me, like an alcoholic who can't find a beer turning to rubbing alcohol...
https://cointelegraph.com/news/forget-btc-price-its-now-possible-to-trade-bitcoin-hash-rate-futures

seems like straight up gambling?

Obviously.

Gambling is a ruthless addiction.

by any other name eh? so anything can be made into futures.

need to do a WO posts per day futures. what could go wrong? heh

EDIT: lucky enough to never had the gambling addiction. just most of the rest of them.

[JSRAW]

https://twitter.com/ChartsBtc/status/1261309327832309760

[Last of the V8s]

At first I used to think how cool the sex addicts must be from the other floor of rehab, but then you get to know them a bit and they are even more miserable than us alcys, and we're pretty damn boring. They were all hideous too, even the women. Pity them now in these circumstances having to charge out and get their rocks off, not just with sex infections a possibility but virus too. Glad I gave it up tbh but could do with a whopping great snifter right now too.

[JimboToronto]

lucky enough to never had the gambling addiction.

I like to learn from other people's mistakes.

In the case of gambling, it was the drummer of a band I was in back in my high school days. He had saved up enough from slaving at a summer job and working after school to buy a lovely new set of Sonor drums.

One day we showed up for rehearsal and there were no drums. It turned out that they were in the pawnshop. He'd bet the money on a "can't lose" horse at the racetrack. It did lose.

None of us had enough money to get them out. That was the end of that band. Too bad. We were good. Won every battle of the bands we ever entered. It was a bitter pill to swallow.

I swore never to allow something that stupid to happen to me. Since then I've never bet on a race or game, bought a lottery ticket, gambled at a casino, or otherwise risked my money on something over which I didn't have control.

I don't play the stock market and I'm a Bitcoin investor, not a trader. I consider being a Bitcoin early adopter like being a venture capitalist.

VCs are investors. People who buy listed stocks after the IPO are just gamblers.

[AlcoHoDL]

At first I used to think how cool the sex addicts must be from the other floor of rehab, but then you get to know them a bit and they are even more miserable than us alcys, and we're pretty damn boring. They were all hideous too, even the women. Pity them now in these circumstances having to charge out and get their rocks off, not just with sex infections a possibility but virus too. Glad I gave it up tbh but could do with a whopping great snifter right now too.

I don't think I could ever become an alcoholic. I've gotten drunk several times in my life, next day I'm back to normal (maybe with a headache), but never had an urge to drink again. I just drink when I go out with friends, etc. Never alone. No alcohol in the house. I guess that, to become an alcoholic, there must be other issues that play a major part, not the alcohol itself.

Same with cigarettes. Like, when I lost my father, I was far away from him, living in another country, couldn't even attend his funeral. My smoking friends offered me cigarettes, to help with the loss. WTF? Will a cigarette or a drink bring my father back? Of course not. If anything, I see this behavior as a sign of weakness of character. I don't want to forget my problems, I want to solve them, and if I can't, I'll learn to live with them.

OTOH, alcoHoDLism, yes, I can understand that. Already addicted... 

[Elwar]

Throwback .... where I did got f***up with some fellow WO’s 

see the adds bellow the picture if you open it.

ZOMG>

Send me 1 BTC and I will give you the secret of how you can make 1 BTC from random strangers on the Internet.

[gentlemand]

I just drink when I go out with friends, etc. Never alone. No alcohol in the house.

I don't drink any more but drinking alone was by far my fave. Nothing better than slowly descending into a dribbling giggling mess at your own pace. No one else fighting, puking or crying.

I used to go through London every week with a few hours to kill. I'd always go straight to the pub, have 4-5 pints on my own, and then wander the city in a slightly floaty daze. It turned that shithole into a world of wonder.

[Paashaas]

I like to learn from other people's mistakes.

Solid advice.

[JayJuanGee]

all we need is a weekly close above $11.5k. that is another 2k above current levels and I have the feeling we will go there rather soon. if we do close above 11.5k and consolidate around above that level, we will have the whole summer and fall of 2020 to inch up (well, ok... double up  ) to the 20k area. new ath in beginning of 2021 and 2021 becoming a 2017 blueprint... we are all set. anyone who is scared, the time to abandon the rocket is getting close.

the arguments of the permabulls staying the same every circle. the arguments of the permabears staying the same every cycle. in the long run the bulls were always right. the hodlers got rich, the bears got bitter.

weirdly enough it sounds easy to hodl. but it is hard. some documentation of this endless struggle with one self (as a hodler) is displayed in this very forum. without this forum, bitcoin would not be the same. without this forum I would not be a hodler.

have a good day and may the 10k mark be taken out for good soon.

 

If you really consider the matter, 600watt, the BTC would not simply go to $11.5k and consolidate there.

Either it would go to $17.5k and come back down or perhaps some other point close to the mid-2019 high around $14k.. and then come back down.. maybe to sub $10k and then settle in $11.5k for a few months before deciding a new direction (presumably up from that point, but even that would not be a certainty).

I agree with you punchline in regards to the difficulties in HODLing, because it looks so damned easy when you zoom out 4 years or so, and even the empirical data seems to show that most of the profits had come to HODLers who held through the whole god-damned ups and the downs.. because the violent and outrageous UPs tended to come on just a few days of the whole period.. and the rest of the time was either torture or something close to it.

Not that I am complaining about my seemingly definitive increase in wealth that came from HODLing.. but such wealth increase only came from going through a bit more than a 4 year full cycle (of course for me it is getting close to 7 years), with quite a few people both in real life and of course through forums either stating or implying that I am some kind of degenerate gambler (which I deny when given the chance.. and sometimes I do not get the chance because they don't say anything).. and that my ongoing investment and refusal to sell any meaningful quantities of my BTC is impending going to zero, or something close to zero that would be below my costs per BTC, at any moment.

[Last of the V8s]

https://magicalbitcoin.org/
The magical-bitcoin-wallet repo has a very minimalistic interactive shell that acts both as a reference implementation of a wallet and a tool to quickly experiment with descriptors and transactions.
magic

[JayJuanGee]

I am going to start battling you, AlcoHoDL,

Hey...!!!!!!   are you trying to imply something about fakery, here?


 

Please stop.
This thread is about BTC's exponential growth, not hypothetical COV deaths.

Many have tried to keep WO on topic.  All have failed.

Even admins gave up.... hhhahahahaha... and left this mess with infofront...

I am not showing you my tip.

That's why you lost the last bet.

Failure and refusal to cooperate.


 


Sucks to be V8.   

[Ibian]

This seems kind of crazy to me, like an alcoholic who can't find a beer turning to rubbing alcohol...
https://cointelegraph.com/news/forget-btc-price-its-now-possible-to-trade-bitcoin-hash-rate-futures

Simply dubbed “hashrate futures,” the contracts track the average difficulty of the Bitcoin network each day from the start to the end of each quarter.

The difficulty is used, not hash rate, because as FTX notes, measuring hash rate accurately is impossible.

“However, given that difficulty adjustments attempt to maintain 10m block times, over long periods of time the average hashrate will be proportional to the average difficulty,” the blog post explains.  

Prepare for the price of bitcoin to go negative I guess.

[Indymoney]

I am going to start battling you, AlcoHoDL,

Hey...!!!!!!   are you trying to imply something about fakery, here?


 

Please stop.
This thread is about BTC's exponential growth, not hypothetical COV deaths.

Many have tried to keep WO on topic.  All have failed.

Even admins gave up.... hhhahahahaha... and left this mess with infofront...

Surely this is going to ruined this forum for long time.

[JayJuanGee]

Ok guys and gals. 

Time to prepare for the next super bull. 


What is your tip for knowing when the market has achieved a superexponential blow off top?

last bull run it was this special moment: you check the price when you leave home to get to your job head for the bathroom. you check it again when arriving at work leaving the bathroom. you made more money commuting to work that day taking a dump than you usually make in 12 months of regular work.

FTFY

That's pure fiction, vapourminer.  Have you ever heard of any BTC HODLer, in real life, who would actually take a dump without checking the BTC price?

Get real!!!!   



 

[Ibian]

At first I used to think how cool the sex addicts must be from the other floor of rehab, but then you get to know them a bit and they are even more miserable than us alcys, and we're pretty damn boring. They were all hideous too, even the women. Pity them now in these circumstances having to charge out and get their rocks off, not just with sex infections a possibility but virus too. Glad I gave it up tbh but could do with a whopping great snifter right now too.

I don't think I could ever become an alcoholic. I've gotten drunk several times in my life, next day I'm back to normal (maybe with a headache), but never had an urge to drink again. I just drink when I go out with friends, etc. Never alone. No alcohol in the house. I guess that, to become an alcoholic, there must be other issues that play a major part, not the alcohol itself.

Correct. Broadly speaking, the reason alcohol is popular in literally every part of the world, is that the way we live is unnatural. This causes cognitive dissonance, or the feeling of getting dumped by someone you thought was a long term thing, except it's permanent and never gets better.

People are different. Some people actually like the current state of affairs. To others it is so anathema that they would be worse off without alcohol than with. In a more natural state a lot of current alcoholics would have a great time, while the twitter checkmarks would most likely just die off.

Same with cigarettes. Like, when I lost my father, I was far away from him, living in another country, couldn't even attend his funeral. My smoking friends offered me cigarettes, to help with the loss. WTF? Will a cigarette or a drink bring my father back? Of course not. If anything, I see this behavior as a sign of weakness of character. I don't want to forget my problems, I want to solve them, and if I can't, I'll learn to live with them.

OTOH, alcoHoDLism, yes, I can understand that. Already addicted... 

Stress is "a lion is chasing me, get that blood pressure and heart rate up and hopefully things will be okay". Depression is "i have two broken legs and a pack of hyenas is surrounding me, might as well lie down and die".

It has nothing to do with weakness or character flaws. It's all environment and compatibility.

[Icygreen]

Have had many addictions some of which still need to outgrow. Feeling lucky that gambling was never one of them. Always believed in working for and earning what you desire, not winning it.

At 18 years old, a broke hippie traveler, I'd sneak a quarter into a Las Vegas slot machine, winning lights and bells whirring loudly as the machine methodically puked a massive pile of quarters just as the security asked for ID and escorted me from the premises for underage gambling. They kept the ill gotten winnings but on the way out while collecting a friend, I spotted a money clip on the floor that I'd step on, bend down to tie my shoe while slipping the $400 wad of bills in my sock.  Don't need to gamble, a little faith has provided thus far  
 
Bitcoin was an especially difficult pill to swallow in the beginning because it sounded like a ponzi and gambling and many of the users were gamblers traders.
 If not for the WO, I'm not certain to have discovered the fundamental value of BTC and how to manage greed.
Learned the hard way but quickly,
I consistently lost value the short time I attempted trading BTC & I've consistently retained and gained value with longer HODL.

Still rockin' a small daily DCA but caring less about its dollar price.  Feeling unbelievably bullish on BTC during money printer go Brrr.... and at the same time feeling financially secure in BTC.
Happy Friday all!  Back to the garden for me, spring like BTC, waits for no-one.

[OutOfMemory]

I just drink when I go out with friends, etc. Never alone. No alcohol in the house.

I don't drink any more but drinking alone was by far my fave. Nothing better than slowly descending into a dribbling giggling mess at your own pace. No one else fighting, puking or crying.

I used to go through London every week with a few hours to kill. I'd always go straight to the pub, have 4-5 pints on my own, and then wander the city in a slightly floaty daze. It turned that shithole into a world of wonder.

Next time, try that on a tab of LSD 
no risk, no fun