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

[OutOfMemory]

we will climb back to $11k soonish. and then it is decision time. we will either go through this barrier and all is good or we will get rejected. if we get rejected we will see 9k and in worst case 8k, but that is the very bearish case. I want to accumulate more, that is why I am even considering those scenarios..

Worst case $8k? Have you even confirmed your math and science facts? We will be hitting $3k again for certain. Everyone's confirmed it.

Confirmed.

Has everyone confirmed everyone's confirmation yet?

[El duderino_]

#earlyhodlsleep

[vapourminer]

we will climb back to $11k soonish. and then it is decision time. we will either go through this barrier and all is good or we will get rejected. if we get rejected we will see 9k and in worst case 8k, but that is the very bearish case. I want to accumulate more, that is why I am even considering those scenarios..

Worst case $8k? Have you even confirmed your math and science facts? We will be hitting $3k again for certain. Everyone's confirmed it.

Confirmed.

wait

can i confirm it too? dont want to be left out. i think.

well maybe i should just say "i can neither confirm nor deny"  yeah thats it. im in both clubs now

[nullius]

Proudhon have been confirming scientifically proven sources since 2011. So yeah, he surely is too busy enjoying his wealth most of the time... except when he briefly passes by from to time to enlighten us with his OG wisdom.

If he shorted Bitcoin with his beloved “high leverage” in 2011 (were there markets with margin then?), or even if he just sold all of his bitcoins at that time, then perhaps that may explain his apparent vendetta.  Think about it...


I recall once having caught a link to some sad story on Reddit about a young fellow who shorted DASH with all the leverage he could obtain.  He wound up throwing into margin calls all of his Bitcoin, and almost all of the fiat in his bank account.  From about $150k in liquid assets that he had slowly saved, he very quickly wound up with $600 (six hundred dollars) to his name.  He was contemplating suicide.

DASH is more or less my definition of “overvalued shitcoin”—but shorts are very dangerous, and highly leveraged shorts all the moreso...

If proudhon were simply bearish on Bitcoin, I would disagree; but it could be a reasonable disagreement.  I am picking on him because he is advising a “high leverage” (!) short based on his alleged “scientific” certainty of the future.


A big short can be spectacular if, say, you have the combination of a rare opportunity, sufficient capital to move the market, and an exceedingly high risk tolerance.  The infamous Soros short of the pound comes to mind.  That was betting the company on a calculated risk, in a very unusual situation—and he did actually have enough capital to move the whole market.

But for every such famous case, there are so many others who went bankrupt.  Oftentimes, it has been the types who look on Internet forums for investment advice.

“Strongly short with high leverage”?  “Confirmed science”?  Seriously?  Regardless of one’s expectations for Bitcoin, that is not only bad investment advice:  It is sadistic investment advice.


Addendum

Wow.  After I drafted the foregoing, I checked proudhon’s trust page.

I wonder how many people have lost money over this.  I hope that most people ignore him.

[vroom]

we will climb back to $11k soonish. and then it is decision time. we will either go through this barrier and all is good or we will get rejected. if we get rejected we will see 9k and in worst case 8k, but that is the very bearish case. I want to accumulate more, that is why I am even considering those scenarios..

Worst case $8k? Have you even confirmed your math and science facts? We will be hitting $3k again for certain. Everyone's confirmed it.

Confirmed.

Has everyone confirmed everyone's confirmation yet?

I will confirm it for a merit. You can buy multiple confirmations.

[ivomm]

we will climb back to $11k soonish. and then it is decision time. we will either go through this barrier and all is good or we will get rejected. if we get rejected we will see 9k and in worst case 8k, but that is the very bearish case. I want to accumulate more, that is why I am even considering those scenarios..

Worst case $8k? Have you even confirmed your math and science facts? We will be hitting $3k again for certain. Everyone's confirmed it.

[bitserve]

Proudhon have been confirming scientifically proven sources since 2011. So yeah, he surely is too busy enjoying his wealth most of the time... except when he briefly passes by from to time to enlighten us with his OG wisdom.

If he shorted Bitcoin with his beloved “high leverage” in 2011 (were there markets with margin then?), or even if he just sold all of his bitcoins at that time, then perhaps that may explain his apparent vendetta.  Think about it...


I recall once having caught a link to some sad story on Reddit about a young fellow who shorted DASH with all the leverage he could obtain.  He wound up throwing into margin calls all of his Bitcoin, and almost all of the fiat in his bank account.  From about $150k in liquid assets that he had slowly saved, he very quickly wound up with $600 (six hundred dollars) to his name.  He was contemplating suicide.

DASH is more or less my definition of “overvalued shitcoin”—but shorts are very dangerous, and highly leveraged shorts all the moreso...

If proudhon were simply bearish on Bitcoin, I would disagree; but it could be a reasonable disagreement.  I am picking on him because he is advising a “high leverage” (!) short based on his alleged “scientific” certainty of the future.


A big short can be spectacular if, say, you have the combination of a rare opportunity, sufficient capital to move the market, and an exceedingly high risk tolerance.  The infamous Soros short of the pound comes to mind.  That was betting the company on a calculated risk, in a very unusual situation—and he did actually have enough capital to move the whole market.

But for every such famous case, there are so many others who went bankrupt.  Oftentimes, it has been the types who look on Internet forums for investment advice.

“Strongly short with high leverage”?  “Confirmed science”?  Seriously?  Regardless of one’s expectations for Bitcoin, that is not only bad investment advice:  It is sadistic investment advice.


Addendum

Wow.  After I drafted the foregoing, I checked proudhon’s trust page.

I wonder how many people have lost money over this.  I hope that most people ignore him.

While everything you said is strictly correct I do still enjoy the ocasional Proudhon post.

That being said... don't take everything you read on the internet (or wherever) as serious advice. There is a chance it isn't.

Always confirm your sauces (scientifically or not)  

And yeah, leveraged trading is extremely risky even if you know what you are doing (which most don't... even if some are lucky). Combined with shorting it is even more risky and most of the time a recipe for disaster and financial ruin.

[Torque]

we will climb back to $11k soonish. and then it is decision time. we will either go through this barrier and all is good or we will get rejected. if we get rejected we will see 9k and in worst case 8k, but that is the very bearish case. I want to accumulate more, that is why I am even considering those scenarios..

Worst case $8k? Have you even confirmed your math and science facts? We will be hitting $3k again for certain. Everyone's confirmed it.

[d_eddie]

I actually welcome Proudhon's bearish posts, especially when they mention shorting her with the highest available leverage. By the time I've fed them into my SOMA engine and digested the convoluted, obscure and esoteric results, she steps up a notch. Thank you, llama of doom! 

[goldkingcoiner]

Edit: If thats her singing in the proudhon song: holy shit her voice is nice. I actually enjoy listening to the song multiple times.

[sirazimuth]

I shall go to the himalayas to atone for my sins now

I shall journey to the Himalayas!... Find a lonely peak!... A blunt one, and sit on it...

[nullius]

Soooo...  Any insights on if/when/how we are getting decoupled from stocks, and (I hope) coupled to precious metals?

[Indymoney]

[JayJuanGee]

I ONLY visit the WO thread on bitcointalk.org. I always have a tab open on WO thread. If they delete WO thread, they delete bitcointalk.org for me. WO members are the real bitcoiners. No fake shit and bullshit like on reddit and twitter. I don't read this WO thread to post for some merit, otherwise I could have been Legendary a long time ago. Been on this site since 2011, only registered in 2013. Who gives a fuck about merit when you have bitcoin.

If nobody gives a fuck about merit they would have had no problems with disabling merit on this thread  

SwayStar123, I read your thread about WO and about your frustration with posting your TA here.

I can't speak for the others, but if your TA is truly backed by something other than wild ass guess then personally I would welcome it here. Perhaps in the past if you were posting bearish TA out of the blue, then it might have been taken as a bit of trolling. A non-biased, no agenda look at TA would likely be most welcome.

Also, many people that hang out on the WO thread are unapologetically pro-Bitcoin^TM, many OGs and maximalists here. So if you are not in line with that, tread lightly.

If you recall, diptwat SwayStar123 was trying to proclaim that he was such a smartie BTC trader that he could turn .05 BTC into 1 BTC, and he made similar kinds of nonsense proclamations in this thread (largely attempting to ascribe himself BTC price soothsayer status) at the same time that he created his other thread (February/March of this year), causing him to get a considerable amount of backlash in this thread and in his other thread, because he was overpromising, underdelivering and not even coming close to achieving his BTC price prediction goals or acknowledging the various fallacies of his ways that had considerably good chances to mislead others.. furthermore not even acknowledging that he had pretty much lost all of his money in a pretty short time.  

Lots of regular peeps can get hurt from those kinds of false proclamations regarding the power of trading and advocating the use of margin trading, etc.

Sure, many of us have short memories, and we cannot always remember the nonsensical, scammy, shilling and/or misleading posts of other members, so I am not really blaming members for trying to give some benefit of the doubt to SwayStar123, even though he is coming off as a bit butt hurt.  

At least, I can give SwayStar123 some kudos for locking and closing the stupid-ass, seemingly attention-seeking shit-stirring thread that he had created (after 6 pages), probably NOT only because of nutildah's post, but for the likely realization coming from several of the posts within that thread showing that there was hardly any scintilla of merit to the bullshit claims that he was making, besides showing himself as a grudge holder, whiner and/or attention whore  - maybe another way of characterizing his behavior as a bit trollish.

have also demonstrated a willingness to be reasonable

The man who is right does not command respect, but the one who admits he is wrong

Edit: acknowledging a kind of subjective nature of merit distribution in that sometimes there can be such a thing as "reasonable trolls".... Go figure.

 

Edit 2:

[edited out]

Ironically i have gained more merit by bashing this thread than by participating in it, but I can admit i was wrong now

This guy is totally reasonable.

Who would have thunk?




Edit 3:

@SwayStar123
I think you should deserve to be merited these days because you were able to let us forget about the big picture here. You were able to let us forget the recent small dump and make sure that our respectable fellow WO people went on commenting your threads (and merit you).
I wonder where is JJG when you need him most.
 

Apparently I was sleeping through the whole thing.
\
\




Better late than never, though, no?  

Edit 4:

Perusing WO in search for news, I discovered the obscene spectacle of a self-entitled brat first demanding that the forum’s most popular thread be censored and memory-holed as “extremely toxic”—viz., he dislikes it—and then accumulating a pile of merits by whining about merits. [edited out the "wordy" parts    ] 

Oh my!!!! Looks like nullius beat me to it, too.     I must have been detained in some kind of hibernation mode, or was it nullius who had been rattled from his own hibernation?

[bitserve]

^ Nice catch JJG. I didn't remember him either. Now I do.

Nothing more to add here. Go Bitcoin Go!

[philipma1957]

Route to $13,000 by the end of the month?

I AM LOOKING FOR 13333!

[sirazimuth]

Whenever I refer to a random poster on this forum I use the the pronoun "they" rather than he or she.
(And yes "they" is grammatically correct for referring to the singular, or so I've heard.)
And not because of all this politically correct gender pronoun nonsense, but simply because  I dont automatically assume
the gender as being a "he" (albeit on this forum, that's usually the case).
I only mention this because in all this swaystar hullabaloo, (apparently triggered by a post of mine)
I was actually suspecting this sway character could be a she. (or not)

Just sayin...

[vapourminer]

Whenever I refer to a random poster on this forum I use the the pronoun "they" rather than he or she.
(And yes "they" is grammatically correct for referring to the singular, or so I've heard.)
And not because of all this politically correct gender pronoun nonsense, but simply because  I dont automatically assume
the gender as being a "he" (albeit on this forum, that's usually the case).
I only mention this because in all this swaystar hullabaloo, (apparently triggered by a post of mine)
I was actually suspecting this sway character could be a she. (or not)

back in the day, as in way back in the day, when i learned english (in two different english speaking countries) i thought i learned that when a singular person of unknown sex was referred to "he" could refer to either sex.

however *main memory checksum error* so..

[JayJuanGee]

Route to $13,000 by the end of the month?

If i am being honest then i am Happy with around 15k EOY..

Portofolio goes down significantly every time even if we gets small correction, TBH it hurts when looking at blockfolio but its part of the deal so i don't mind. Am in for long haul anyway so i don't give any damn. Doing DCA religiously and as of now its working out pretty well for me. I might get panic if we go below 3k mark which is very unlikely.

Of course, if you have been attempting to carry out any kind of meaningful DCA'ing into BTC in the past 3 years, your BTC portfolio should be looking pretty good, even if you have screwed up a few times along the way, here and there.

This linked example shows $50 per week for the past 3 years, with 70% profits in BTC as compared with Gold and DJI only at 41% and 12%, respectively.

Of course, if you double the time period of DCA'ing into BTC to 6 years, a hypothetical DCA'ing investment will look even better with nearly 12x profits in BTC, and only 50% and 33% in Gold and DJI respectively.

[JayJuanGee]

End of the WO thread if JJG can't find any post to reply, instead updating his own reply.....

O.k.  I admit it.

You caught me without my pants. Sucks to be me.