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

[Hueristic]

Once they make a move to get full on into crypto they will be coinbase 2.0 before you know it!
https://youtu.be/Sg14jNbBb-8

https://usethebitcoin.com/cryptocurrencies-vs-paypal-battle-future-payments

I barley use them anymore as I only used them for fleabay and now that it collects taxes I don't use it as much.

Did you go over some limit? I doubt they would bother with KYC for a $10 payment.

I have no clue, I used to do most of my shopping on fleabay.

[Hueristic]

People using pants as an example of why wearing masks is normal. They don't understand that I have never fully accepted that wearing pants should be required either.


Also...leprosy exists. If a leper touches you, you will catch it. That is why everyone in ancient times walked around in full plate mail.

If you are not walking around in a full suit of armor you can catch leprosy and eventually die. Let that little fact sink in.

I question your facts.

[lightfoot]

People using pants as an example of why wearing masks is normal. They don't understand that I have never fully accepted that wearing pants should be required either.

That's good to know. Do you happen to have a bidet by chance? That could be a mitigating factor however walking around without pants will get you some interesting responses, same as not wearing a mask.

Also...leprosy exists. If a leper touches you, you will catch it. That is why everyone in ancient times walked around in full plate mail.

If you are not walking around in a full suit of armor you can catch leprosy and eventually die. Let that little fact sink in.

No, they would exile lepers very far away (or just kill them), which also worked to control that disease. Are you saying we should exile people who do not wish to wear masks to places like Molokai and the like?

I could be ok with that.

[HI-TEC99]

People using pants as an example of why wearing masks is normal. They don't understand that I have never fully accepted that wearing pants should be required either.

That's good to know. Do you happen to have a bidet by chance? That could be a mitigating factor however walking around without pants will get you some interesting responses, same as not wearing a mask.

Nobody would bat an eyelid if he wore a kilt.

[AlcoHoDL]

[...]

Luckily the people I bought most of my coins from have a lot more than me. Many of my early coins came from the folks at Decentral, the birthplace of Ethereum where their obscene profits from that sleazy scam made some of them billionaires. I guess I could have made a shitload if I'd jumped on their offer of buying into the pre-mine but then I'd have to live with myself.

The owner of my corner store that used to have the ATM started showing me increasing respect during and after the 2016-2017 bull run though. I once asked him how big a percentage he got and he said nothing, just flat rental of his floor space. The store across the street offered lower rent and the ATM operator moved his machine. Too bad. I think he realized too late what was happening. If he'd taken his end in coins, he'd probably be rich(er) himself.

Now I'm past using ATMs (hopefully) and back to doing OTC business with devoted Bitcoiners. Hopefully no wrenches.

Back in 2015, I used to buy coins from ATMs (didn't yet have an account on an exchange). I remember I once wired $1100 to a friend who lived right next to one, and asked him to buy BTC for me and send me a photo of the QR code. He did. Later that day he called me and asked me whether he should also buy some coins. Of course I encouraged him and did an Andreas Antonopoulos-style lecture. He was excited. He wanted in. Until a few days later, when he called me and said he read on the net that Bitcoin was being used by criminals to launder money and was "no good". He even warned me against it and indirectly called me a "criminal supporter". He hasn't spoken about it ever since, but I see a bitterness in his face whenever we meet.

I guess many shop owners using Bitcoin ATMs in their shops do (did) it just for the rental of their floor spaces, they never really believed in Bitcoin. It was only in 2016-2017 that things got serious, but it was too late for most to get in. Well, we all now know that it wasn't really too late, but that's how it seemed to them, just like it felt in 2015 after MtGox.

Long story short, you can't have guarantees, you've got to risk some to gain some. With Bitcoin, being able to understand the tech behind it, and realizing its significance as electronic cash, gives you an advantage (a big advantage) over the clueless masses who just follow the media propaganda. For me, it was the understanding that production halves every four years (next was in 2016 at the time), so I just knew I had to own some coins before then. My only regret is not buying more during those early days.

Live and learn. And take risks. That's the lesson of all this.

I have bolded a portion of your post, and I continue to be torn about the various ways of framing what we need to know in regards to becoming motivated to invest in bitcoin as a hedge, and some of us do seem to get it fairly early.

I keep believing that I got it so early, and I did not get distracted into bitcoin because I was largely considering the sound money aspects and the hedging aspects of bitcoin.  So, i did not get very distracted or intimidated by not really knowing the tech very well.  I still do not proclaim to understand the tech very well, and I continue to consider the ability to perform direct cash transactions on a widespread basis as a kind of aspiration rather than something that is necessary in the here and now, even though if you and I met on the street, AlcoHoDL, and you told me that you wanted to buy some hookers, lambos and blow off of me, because you could see that I had too much.   I would tell you that as long as we can agree on a price, and you are willing to pay the transaction fee, then I will transfer over the agreed to amount of hookers, lambos and blow after I have at least one confirmation that the transaction had gone through.  Since you would be excited to get your hands on the hookers, lambos and blow, you probably would pay such a fee to get the transaction to go through in less than an hour.. maybe even in the next block.

So, sure we can do the transaction, but I am still thinking that the fact that no one can really stop us from the transaction or even disclosing it contributes to bitcoin's power, and surely also the scarcity of the supply of the bitcoin is going to cause some reluctance for you, AlcoHoDL, to want to spend the .5BTC or whatever the future price of such agreed-to transaction.

Before we even get to the spending of bitcoin status, we do need to get through some level of decent accumulation and/or maintenance.  When I was in the accumulation stage of my bitcoin, I would have been very disinclined to spend my BTC on hookers, lambos and blow because that could be expensive to replace those BTC.. and of course, if we are making smaller transactions, like I wanted to rent your $1,000 breach house for a few days, AlcoHoDL, then it would be much easier for me to replace those BTC upon spending them (presuming that I am in either a BTC accumulation phase or a maintenance stage of my BTC management rather than a more leaning, BTC liquidation phase)

Of course, any of us earlier adopters should be attempting to appreciate our audience would most likely be in a BTC accumulation phase, so they have to get convinced in their head about what level of BTC accumulation target that they should set and the reason why BTC remains a great place to hold value (having more to do with sound money aspects rather than tech, even though the tech does help BTC to accomplish its sound money aspects).

Well, JJG, I will say it. I'm jealous. Jealous of you, and many other early adopters, and most of the WO brothers. Jealous in a good way. I love you all (no homo) and wish you the very best. As much as I understand the inner workings of Bitcoin (and that was the main force that drove me to it), I can't help but admitting that I could have done better. Much better. I had the fiat. Lots of fiat. A good part of which I used to buy BTC. But not when I should have. I waited, and ended up buying much less than I could have bought. Sometimes we must take risks. And not just take risks, but take them at the right time. Because if you time it wrongly, you end up risking more for less. So, hats off to you guys 'n' gals, you deserve it.

It's cash. That's the beauty of it. You don't need to know who I am, I don't need to know who you are. Add to this the ability to transact over-the-air, via a channel that only needs to be able to transfer information, and you're entering Star Trek territory. You're Captain Kirk and I'm Scotty and we're thousands of miles away from each other and we're beaming up cash to each other. It's as clean and pure as it gets. And the more you understand how it all works, the more it sucks you in. It's like a beautiful woman you just can't take your eyes off of. And she wants you too. She accepts you for who you are...

No, I'm not smoking leaves from the elephant garden, although it sounds like it. The second time I felt so excited about something was when I watched a BBC documentary about Fermat's Last Theorem. The next day I called BBC and asked for the transcript (there was no YouTube at the time), which they kindly sent me. Such mathematical theorems may sound boring and pointless to most of us, but they really are maps. They're mapping the universe. It's like being in a pitch-black room without a single clue of what's inside. So you start to feel the objects, forming some images in your mind, of their shapes, their function, their significance. And at some rare moments during the course of this exploration, a brilliant mind comes along and flicks a switch, which illuminates part of the room, helping you see the treasures that exist right next to you, waiting to be harnessed, to be understood. Satoshi Nakamoto helped illuminate part of that room and gave us this brilliant mathematical construct called Bitcoin. That's the way I see it anyway...

As for Lambos, hookers and blow, this is something that may happen, but not just yet. Not for me. My stash's current value is far too small to be spending it on such indulgences. Their time will come, but we're (I'm) not there just yet. Regardless of where this path will lead us, though, I feel lucky and blessed to be part of this. Let the riches come when they should (fully agree with your "why not both" comment), but let that not be a target, but a consequence.

[fillippone]

After almost 3 years on these boards, I've never really dared to take the leap to visiting this thread. I'm wondering how much time I'd need to start reading the WO from the very first post all the way to the last one. I'm also wondering if it'd deliver me inner peace or other life-changing insights.

I sense the seducing perfume of a challenge...

This is my favorite thread my brother .... :-)

Here they did make an honest and solid hodler out of me

Just wait for him to find the page with your drunk quasi-dick pic!

The sentence

I sense the seducing perfume of a challenge...

will suddenly get a totally new meaning.

[Hueristic]

I sense the seducing perfume of a challenge...

will suddenly get a totally new meaning.

We will know he's a year or so in when he starts speaking in tongues.

[Elwar]

I do have a bidet actually.

Or as we call them in Thailand...a bum gun.

People using pants as an example of why wearing masks is normal. They don't understand that I have never fully accepted that wearing pants should be required either.


Also...leprosy exists. If a leper touches you, you will catch it. That is why everyone in ancient times walked around in full plate mail.

If you are not walking around in a full suit of armor you can catch leprosy and eventually die. Let that little fact sink in.

I question your facts.

Fact: Leprosy exists (about 200,000 people as of 2016).

Fact: Leprosy is transmitted via touch.

Fact: If you are walking around in a full suit of armor, nobody can touch you.

Fact: If you are not walking around in a full suit of armor, somebody can touch you (and thus, you could potentially catch leprosy).

Fact: You will eventually die.

[Hueristic]

I do have a bidet actually.

Or as we call them in Thailand...a bum gun.

People using pants as an example of why wearing masks is normal. They don't understand that I have never fully accepted that wearing pants should be required either.


Also...leprosy exists. If a leper touches you, you will catch it. That is why everyone in ancient times walked around in full plate mail.

If you are not walking around in a full suit of armor you can catch leprosy and eventually die. Let that little fact sink in.

I question your facts.

OK, went back and see you are making a horrible analogy because you think the pants one is horrible.

got it.

[rdbase]

After almost 3 years on these boards, I've never really dared to take the leap to visiting this thread. I'm wondering how much time I'd need to start reading the WO from the very first post all the way to the last one. I'm also wondering if it'd deliver me inner peace or other life-changing insights.

I sense the seducing perfume of a challenge...

This is my favorite thread my brother .... :-)

Here they did make an honest and solid hodler out of me

Just wait for him to find the page with your drunk quasi-dick pic!

The sentence

I sense the seducing perfume of a challenge...

will suddenly get a totally new meaning.

That one will leave a scar and have him running for the exits I am sure!
The regulars to our Cheers watering hole won't soon forget it.
I try to out do it but can't seem too win the challenge.
The coomer one I just been exposed to today was the best I could muster into the convo and keep semi-on-topic.

[lightfoot]

So, in the meantime I thought I would fire up an old bitcoin wallet from 2014 and see just what I was spending coins on.

Some gems include:

Wii U console: .5 bitcoins, $4,600 in today's money
Delivered Pizza including tip: .02btc,  $184
Towels for the house: .4 bitcoin, $3680


While it is true I have been able to enjoy these things for the past 6 years, they did wind up costing me a lot. Something to keep in mind if you sell your bitcoins today, in 6 years you might be thinking "I could have bought xxxxx with that money"

[vapourminer]

So, in the meantime I thought I would fire up an old bitcoin wallet from 2014 and see just what I was spending coins on.

Some gems include:

Wii U console: .5 bitcoins, $4,600 in today's money
Delivered Pizza including tip: .02btc,  $184
Towels for the house: .4 bitcoin, $3680


While it is true I have been able to enjoy these things for the past 6 years, they did wind up costing me a lot. Something to keep in mind if you sell your bitcoins today, in 6 years you might be thinking "I could have bought xxxxx with that money"

years ago steam took btc. so at todays values i have like ~20 grand of steam games (couple bitcoins worth - maybe a couple hundred bucks at the time many years ago). bought i think like 4 or 5 games and a steam controller.

i even played a few. one shows 3 minutes total time, couple others less than 30 minutes. i think there was one i that i played through.

[JayJuanGee]

[edited out]

Well, JJG, I will say it. I'm jealous. Jealous of you, and many other early adopters, and most of the WO brothers. Jealous in a good way. I love you all (no homo) and wish you the very best. As much as I understand the inner workings of Bitcoin (and that was the main force that drove me to it), I can't help but admitting that I could have done better. Much better. I had the fiat. Lots of fiat. A good part of which I used to buy BTC. But not when I should have. I waited, and ended up buying much less than I could have bought. Sometimes we must take risks. And not just take risks, but take them at the right time. Because if you time it wrongly, you end up risking more for less. So, hats off to you guys 'n' gals, you deserve it.

Probably the vast majority of us fucked up in one way or another.  So why kick ur lil selfie about that?

I started buying at the top of the 2013 market, so it took a decent amount of time to be profitable, and surely I could have had 2-3x more BTC by just waiting to buy lower.. but I thought that it was much better to just keep buying because I did not know when the bottom was going to be in, even when I was buying BTC in the $900s and all the way down to $180 was my lowest purchase, but way too little because I hardly had very much money by that point to really stock up on satoshis (we called them bitcoin back then.... hahahahahaha).

By the way, in about September, October 2013, I was already trying to look for a place to put some investment to largely supplement a 401k that I had but I was not able to further contribute to it.. so when I finally got around to reading about bitcoin in mid to late November 2013... I did not need a lot of convincing regarding bitcoin being the supplemental thing that I was looking for that would fit in well as a kind of 401k replacement (even though I still had - and still have the 401k that I have not added value to since late 2013.. but it still has grown, about 30% over 6.5 years).

It's cash. That's the beauty of it. You don't need to know who I am, I don't need to know who you are.

I think that is called a bearer asset.  Whoever bears it, owns it.  In other words, once you transfer the private key to me, I own it (or vice versa).

Add to this the ability to transact over-the-air, via a channel that only needs to be able to transfer information, and you're entering Star Trek territory.

you don't have to sell me.  

You're Captain Kirk and I'm Scotty and we're thousands of miles away from each other and we're beaming up cash to each other. It's as clean and pure as it gets. And the more you understand how it all works, the more it sucks you in. It's like a beautiful woman you just can't take your eyes off of. And she wants you too. She accepts you for who you are...

Whoa... that's deep.

No, I'm not smoking leaves from the elephant garden, although it sounds like it. The second time I felt so excited about something was when I watched a BBC documentary about Fermat's Last Theorem. The next day I called BBC and asked for the transcript (there was no YouTube at the time), which they kindly sent me. Such mathematical theorems may sound boring and pointless to most of us, but they really are maps. They're mapping the universe. It's like being in a pitch-black room without a single clue of what's inside. So you start to feel the objects, forming some images in your mind, of their shapes, their function, their significance. And at some rare moments during the course of this exploration, a brilliant mind comes along and flicks a switch, which illuminates part of the room, helping you see the treasures that exist right next to you, waiting to be harnessed, to be understood. Satoshi Nakamoto helped illuminate part of that room and gave us this brilliant mathematical construct called Bitcoin. That's the way I see it anyway...

Wish that I would have emphasized the hard sciences a bit more than the soft sciences (to the extent that they could be called sciences).

As for Lambos, hookers and blow, this is something that may happen, but not just yet. Not for me. My stash's current value is far too small to be spending it on such indulgences. Their time will come, but we're (I'm) not there just yet.

That was just an example of a possible future transaction.

Regardless of where this path will lead us, though, I feel lucky and blessed to be part of this. Let the riches come when they should (fully agree with your "why not both" comment), but let that not be a target, but a consequence.

Much more lucky to already have learned about it.. and it kind of sank in, which reminds me of your above comment about "mistakes were made."

I know that I was in bitcoin in the very lat 2013 and all of 2014, but there are a lot of folk who could have come to bitcoin in 2015 or even 2016, and either would have been much better than me, or at least NOT worse than me - except my only advantage was that I spent the whole of 2014 convincing myself why I was "in" bitcoin, so by the time 2015 came, I had already convinced myself that I was "in" bitcoin.  

There might have been some people who came to bitcoin in 2015 or 2016, but they were not convinced that bitcoin was a thing of importance...  

I forgot your story, AlcoHoDL, are you saying that you were one of those could have been earlier adopters, but you did not rise yourself to the level of action which would likely mean figuring out some kind of reasonable budget to get "in" at some earlier date?  When are we talking?  and why did you NOT act?  would have it made a difference?  I had some asset that I had invested into in early October 2013 and I would have had that money available for bitcoin, but I will say that I did withdraw all of that money that I had invested in that October 2013 asset and I invested into bitcoin between about October and December 2014 which I believe largely played out better for me.

What is your "could have," "would have," "should have," and would have it made a difference in terms of what you did, your resulting financial status or even your mindset?

[Elwar]

I do have a bidet actually.

Or as we call them in Thailand...a bum gun.

People using pants as an example of why wearing masks is normal. They don't understand that I have never fully accepted that wearing pants should be required either.


Also...leprosy exists. If a leper touches you, you will catch it. That is why everyone in ancient times walked around in full plate mail.

If you are not walking around in a full suit of armor you can catch leprosy and eventually die. Let that little fact sink in.

I question your facts.

OK, went back and see you are making a horrible analogy because you think the pants one is horrible.

got it.

Exactly.

[degxtra1]

So, in the meantime I thought I would fire up an old bitcoin wallet from 2014 and see just what I was spending coins on.

Some gems include:

Wii U console: .5 bitcoins, $4,600 in today's money
Delivered Pizza including tip: .02btc,  $184
Towels for the house: .4 bitcoin, $3680


While it is true I have been able to enjoy these things for the past 6 years, they did wind up costing me a lot. Something to keep in mind if you sell your bitcoins today, in 6 years you might be thinking "I could have bought xxxxx with that money"

in feb 2015 bought laptop -basic model  of Acer about 1.45BTC today= 13500$

[Dunkelheit667]

The monthly update:



Summer, it's definitely summer now. We saw a red hot dot in June. There was not much to observe. Folks are getting lazy, the volume was pathetic. A lot of us just float along with the whales. Good news for all those currently accumulating (be it the first, second, third or... phase). I recently had a look at the accumulated amounts of my recent DCA purchases and have been buying almost the same amount of Satoshis with the same amount of fiat money for the past year. Guess history books will call it the veggie zone? Looking at the data above, I have to agree it should continue until Q4.

Other than that... still working at home, still double the work for the same fiat salary, the crisis, sure, more work is coming, gathered new (old) business. Exactly the same situation we faced during the last crisis. Well, now we can live in perfect osmosis with our office chairs at home, this is new. My slave owner promised me the first week off this year, my most urgent question is now how and if I will get out of this fraking chair when the time comes, seriously.

Gentlemen, have a relaxing month of July!

[Toxic2040]

the evening wall report

taking a good look into the...cloud, bitcoin looks ready to test 0.5 short fib resistance   #dyor
4h


snake climbs up mountain and spits fire
D


just some thoughts on a pivotal candle imho..its high and low the trading range we have been in since then..its open and close at that $10k psychological level
we have traded in or hit this range around 8 times..turning this resistance into a support zone is when I will consider the next bull run starting
the strong support zone is also visible with the top of several candles clearly defined in this range
M

#stronghands

[JimboToronto]

So, in the meantime I thought I would fire up an old bitcoin wallet from 2014 and see just what I was spending coins on.

Some gems include:

Wii U console: .5 bitcoins, $4,600 in today's money
Delivered Pizza including tip: .02btc,  $184
Towels for the house: .4 bitcoin, $3680


While it is true I have been able to enjoy these things for the past 6 years, they did wind up costing me a lot. Something to keep in mind if you sell your bitcoins today, in 6 years you might be thinking "I could have bought xxxxx with that money"

If nobody had ever spent any of their bitcoins, Bitcoin would have no value.

Lazlo did his part back in 2010 and gave Bitcoin its first real-world monetary value. He said the pizzas were delicious. Hopefully he 's still holding much more than he spent and he's filthy rich.

I've still got my 2 black BTC ballcaps , which cost me about $30 in Bitcoin at the times I bought them and are now worth thousands (the older one) and hundreds (the newer one). They're still comfortable, albeit a little worn and sweat-stained. I wear them now only on special occasions, mainly for $5 wrench reasons. I feel I too was doing my part in my small way. I managed to hold enough coins to live happily ever after. Maybe some day I'll be filthy rich too.

Be proud that you did your part toward making Bitcoin what it is today and what it will be some day. Hopefully you're still holding enough coins to be filthy rich some day too.

[Biodom]

[edited out]

I was blown away by a couple of bitcoin ideas (in addition to no third party control, etc.):

1. Emission curve
2. The fact that you can convert electricity into something that is essentially, money (or at least immediately convertible good), and it appeared to be legal.

Hodling idea came at least a year or two later.

I noticed that you are still NOT completely convinced about the bitcoin HODL theory, Biodom, especially when you share some angles of your correlation speculations, from time to time...  

 
By the way, I am not even close to suggesting that you are anywhere near the level of a mindrust... unless you would like to disclose some of your previously undisclosed emotions about panic on or around our March 12 drop to $3,850?  Were you tempted to sell some BTC around that time or not?  Tell us.  Spill your guts... do it ... do it...

Huh? No, not really tempted. I did sell some a couple of weeks later or so, nothing major-that was my small sacrifice to ya'll (hodlers of perpetuity).
I did sell some mid 2017, though, Vinny Lingham "influenced" me...I guess my hodl was not too strong back then.
Used a half of proceeds to buy something that is not to be named, but it outperformed btc during 2017-2020, albeit I sold that "thing" as well a few weeks ago.
Taking huge risks becomes more difficult with each passing year, so i don't take large % portfolio risks on anything anymore.
DCAing is definitely NOT my style, though. That said, taking profits never ruined anybody, AFAIK.
Additionally, in prior years people were less ambivalent about spending btc on regular life items (as Jimbo and lightfoot show)

P.S. I lost almost all btc in 2017 hurricane Harvey flood. That was such a bummer.  

[xhomerx10]

So, in the meantime I thought I would fire up an old bitcoin wallet from 2014 and see just what I was spending coins on.

Some gems include:

Wii U console: .5 bitcoins, $4,600 in today's money
Delivered Pizza including tip: .02btc,  $184
Towels for the house: .4 bitcoin, $3680


While it is true I have been able to enjoy these things for the past 6 years, they did wind up costing me a lot. Something to keep in mind if you sell your bitcoins today, in 6 years you might be thinking "I could have bought xxxxx with that money"

 I bought a WiiU with cash a few years back... WiiUsed it very little.   I wish I had spent that money on Bitcoin!