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

[explorer]

Can you hear that?  That's not popcorn.

 That's   Supply Crunch.

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[JayJuanGee]

*drying off with $8,000 towel.*

That's EPIC!

In my case, I'm currently using a $2000 Trezor...

At least we haven't been eating $90M pizzas (yet)!

I have a couple $1,300 sandwiches

Dont forget my $33,000 iphone 6..

(1.8 BTC on feb 2016)

I had a bloke code some stuff that I can code now myself in 1 hour. Only 25 BTC 

let's go back to the year 2015. January of that year. bitcoin had been falling falling falling, nothing but falling ever since peak of 2013. a peak that I did not sell. it wasn't "fuck you -I am retiring" amounts of fiat worth that my btc stash was worth on that peak, but it surely was more money than I had ever dreamed of possessing. yeah, saw it all dwindle. like water you try to hold in your hand. I got seriously invested in 2013 and all I saw in that year were fucking immense fiat gains. evaporating fiat gains all through 2014. hired a manager for my business. he demanded me to invest some cash into the business and I thought he was right, I should invest in my business. 2014 had left me disillusioned. in January 2015 bitstamp got hacked and since I was on the brink of selling I had lots of btc on that exchange in that moment.
whooosh - all gone. like another mtgox. I freaked out completely. in the back of my mind I thought that bitstamp would somehow not end up like mtgox 2.0, but that was just a feeling.  I had to reconsider my attitude towards bitcoin. it dawned on me that it was just a speculative pipe dream I was curating here. fuck this shit. I own a real life business that made me decent money and I also liked the work. why the fuck was I chasing some weird "get filthy rich" scheme when I had a decade long business that worked quite well? I almost gave up. almost. decided that if bitstamp would recover I would sell 100 btc and put into my rl business. bitstamp did recover, got all coins back.

so I did. sold in February 2015. got €20k and invested that in the business. posting this so noobs can learn and not do the same mistake. never sell your precious corn. that was $1.8 mio mistake, currently. if you sell 10btc during next dip it will be the same in a few years. if you sell 1 btc during the next bear, it will be the same in a few more years. hold on to the holy corn.

Oh my 600W.... I cannot recall hearing that story... .. It is quite ironic how many of us can come to the wrong kinds of decisions from time to time... .. yet I would imagine that since you got into BTC in 2013, those 100BTC were still profitable.. or at least they should have been... .. even though you only got about €200 for each of them... ... such a gut wrenching story, and I can appreciate that any of us could arrive at some kind of similar conclusion.. because your conclusion was not illogical.. it only seems to be bad when we look at it with rearview glasses.

[Biodom]

Where that fear and greed update??

Hahahahaha

Fuck that shit.

Remember last week, or was it a couple of weeks ago, there were quite a few folks in here vociferously proclaiming that a correction was imminent based on such fear/greed index showing "too greedy"  blah blah blah..

25k to 30k = July 2019 price of 13k for a miner's profits

Just saying we are not there yet.  To me we correct in the 25k to 30x range Jan-feb 2021

78k = dec 2017 price of 19.9k for a miner's profits

and at least pass 50k in fall of 2021.

Personally, I doubt that whether miners are profitable or not, or the extent of their profitability indicates where bitcoin is likely to go, even though I agree with you that some kind of decently sized correction could happen in the $25k to $30k range.  Part of the difficulty that we are having here is that BTC prices pretty much shot up from around $10k in early September to our present prices that are almost hitting $19k... and we have not had any kind of meaningful correction during that whole time.. so we have entered into the deadman's zone of $17,250 to $23,500-ish without any meaningful correction - which could end up throwing a monkey wrench into what would have otherwise been expected pass through behaviors within deadman's zone...

So, there you have it.. a kind of strange situation that continues to present UPpity dynamics, even though a downward correction is somewhat justified, too... but such downward correction dynamics does not seem to be as strong, currently, as the seeming need to visit ATH territories in the coming days.. maybe even hours, at the rate we have been going in the past couple of days.

Yea, I agree that we don't have to exactly match 2017 miner profits, although it would have been quite nice if we do.
Still, unless bigger institutional FOMO materializes, it is quite possible that we would dip at around ATH and not later (at 23-25K).
However, if we are in a hockey stick followed by hyperbitcoinization, much higher prices are possible.
Regarding everybody posting how much various items are now worth-there was a simple remedy available: replace sold btc with new btc bought for fiat the instant you sold "prior" btc. In this situation, the amount that you paid in btc becomes irrelevant, unless you consider that you would have had more (but you really would not since you only bought btc as a replacement).

[lightfoot]

Hm. Apparently I can "buy" "bitcoin" in Paypal. However I have to set up a "cash account" and they want my SSN/TIN and DOB.

I don't think I ever gave them that before. Need to think about this for awhile.

What a rip off. 0.5% spread plus a percentage when buying and again when selling. Greedy corporate slugs.

https://www.paypal.com/en/webapps/mpp/paypal-fees

The transaction fees are based on how much cryptocurrency (“crypto”) you buy or sell. The exchange rate you’ll see before buying or selling crypto will also include a cryptocurrency conversion spread. There’s no fee for holding crypto in your account.

Purchase or sale amount   Fee
1.00 – 24.99           USD   0.50 USD
25.00 – 100.00       USD   2.30% of purchase or sale amount
100.01 – 200.00     USD   2.00% of purchase or sale amount
200.01 – 1000.00   USD   1.80% of purchase or sale amount
1000.01 USD+                   1.50% of purchase or sale amount

Much better than the average bitcoin ATM. Still, the fact that I can't transfer it into my real wallet means it's not really bitcoin. Kind of like E-Gold where they said that every ounce was backed by real gold. Kinda.

[lightfoot]

Hm. Apparently I can "buy" "bitcoin" in Paypal. However I have to set up a "cash account" and they want my SSN/TIN and DOB.

I don't think I ever gave them that before. Need to think about this for awhile.

He used some part of his stash to finally set him and Rick for life (or sorta) while still holding an extremely healthy stash that now he can let run to whatever price without much stress. All in all I think he did well hedging there.

Agreed. But much as we chuckle about my 8,000 towels we'll snicker at his billion dollar freed slave..... :-)

[windjc]

Whatever happened to that professor in Brazil that trolled this thread for years? Anybody remember his name?

I'm curious if he still has an online profile and twitter account.

Last time I heard from him he made a lengthy negative comment on a pending ETF application when the SEC asked for public feedback.

[lightfoot]

Thinking about this paypal thing and how simple it is to buy, I wonder if we're back to the time of $20 bitcoin.

The runups should be very..... interesting......

[heslo]

Whatever happened to that professor in Brazil that trolled this thread for years? Anybody remember his name?

I'm curious if he still has an online profile and twitter account.

Last time I heard from him he made a lengthy negative comment on a pending ETF application when the SEC asked for public feedback.

Stolfi?

He hangs out on the /r/btc subreddit with all the bcash tards. Good place for him to be honest, surrounded with like-minded intellectuals

[marcus_of_augustus]

Whatever happened to that professor in Brazil that trolled this thread for years? Anybody remember his name?

I'm curious if he still has an online profile and twitter account.

Last time I heard from him he made a lengthy negative comment on a pending ETF application when the SEC asked for public feedback.

Stolfi the insufferable left-wing nutty profeesor.

Hopefully Bolsanaro threw him jail just for shits and giggles, and sucking off gubmint teat to post mind-numbing diatribes on forums 24/7

[gentlemand]

Whatever happened to that professor in Brazil that trolled this thread for years? Anybody remember his name?

I'm curious if he still has an online profile and twitter account.

Last time I heard from him he made a lengthy negative comment on a pending ETF application when the SEC asked for public feedback.

https://www.reddit.com/user/jstolfi/comments/

He has not let up. No, sir.

It must be multiple hours of his day since 2013 now. When I take a little look around I think he's losing the battle. We need to get hold of his family to stage an intervention.

[JayJuanGee]

The gist of my intended Part 2/2 has been preëmpted by someone else much more succinctly, in a post that I will leave untranslated so that I can avoid being suddenly ignore-listed by both Jay and CT—and pretty much everybody else on WO, except (ironically) marcus.

So far, I have not put any forum member on my ignore list.. in other words, my ignore list is empty.. in other words, you probably have a ways to go, nullius, before I would end up putting you on such list, in other words, you would probably have to hack my account or physically wrench attack me   to get me to push such button, in other words, I am not even sure how to use that function...  In other words, even if you have been working on getting all forum members to ignore you, you have not inspired me in that direction, yet.  In other words, hahahahaha...  Am I running out of words yet?  even though I have heard quite a bit about such "ignore" function, from other members of this here forum, I have not found my way to such button.    

[Torque]

Epic takedown of Peter Schiff and why bitcoin is better than gold. (For the record, I hold both)

https://tomluongo.me/2020/11/20/market-friday-bitcoin-apotheosis-gold-bugs/

[xyzzy099]

Whatever happened to that professor in Brazil that trolled this thread for years? Anybody remember his name?

I'm curious if he still has an online profile and twitter account.

Last time I heard from him he made a lengthy negative comment on a pending ETF application when the SEC asked for public feedback.

Stolfi?

He hangs out on the /r/btc subreddit with all the bcash tards. Good place for him to be honest, surrounded with like-minded intellectuals

Apparently he is still lurking around here too - last active about a month ago, according to his profile:

https://bitcointalk.org/index.php?action=profile;u=183158

[Torque]

Whatever happened to that professor in Brazil that trolled this thread for years? Anybody remember his name?

I'm curious if he still has an online profile and twitter account.

Last time I heard from him he made a lengthy negative comment on a pending ETF application when the SEC asked for public feedback.

https://www.reddit.com/user/jstolfi/comments/

He has not let up. No, sir.

It must be multiple hours of his day since 2013 now. When I take a little look around I think he's losing the battle. We need to get hold of his family to stage an intervention.

That guy is certifiable.

Wish I could be a fly on the wall at his house when Bitcoin hits $100K, and watch his head explode. 

[True Myth]

Here I am in the Wall Observer thread in November 2020, when for the first time in quite a while, it seems there's some significant Walls to Observe.

Lots of folks wanting to cash in now that we're near ATHs again it seems ^_^

Completely understandable. People that bought near the top of the last rally are finally in the green again, so they might be looking to get off the roller-coaster.

My ex wife bought near the ATH a few years ago due to FOMO.  I'm sure she has long since forgot about her coins.  I've been contemplating if I should tell her to check (resulting in instant selling) or do her a favor and not mention anything to her...

#MoralDelema

Surely sounds like an outlier case to buy and to completely ignore for nearly 3 years.

We are talking about someone who loses about one phone a year and can't find her car in a parking lot during the day time...

[eddie13]

There was this member called Eddie
Claimed he'd taken up with a new reddie.
He regaled us with tales
With many likely details.
But we all knew Eddie's reddy was his teddy.

Did I mention curves?

[JayJuanGee]

ATH and then a good correction, rebuilding base.

Pump to $25,000, then a correction to $20,000 would be preferable  

my opinion ? i think 20k $ is a nightmare to traders now , ibitcoin gonna spend days before it  break  with the enough volume , maybe this altcoins turn for a bullrun .

Fuck "altcoins"...  

They are more properly known as shitcoins.. for a reason.  

2020 >>>>>>>>>>>>>>>>>>>>>2017
Eth is at 510.................................Eth was 1200

Who cares about ETH?  It's a shitcoin... It's not something that you should invest your money in long term.. sure, you can gamble and play around with it, but why the fuck does it matter in this particular thread?  It doesn't, unless you want to say negative things about it, then that would be fine to reference it in that direction.

BTC is at 18651 ........................... BTC was 20000

so 2.7344% eth value to BTC value 2020

vs 6.0000% eth value to BTC value 2017

note coin value not market cap.

so I won't argue 2.7344 is too low right now
I won't argue 6.0000 was too high back then.

I will argue that ETH is a shitcoin.. filled with smoke and mirrors and does not even know what it is... I mean is it going to have an ETH 2.0?  Fuck that level of uncertainty.. who needs it... even if others are willing to risk their money in such smoke and mirrors crap.. does not mean that it is worth analyzing.

I will average the 2 and get 4.36%  So does the current number drift to 4.36% by eth moving to 800 a coin?
 if it does it gives us  4.289%

Gamble if you must.. it seems like a waste of brain power.

and a big time eth rally is right around the corner.

Perhaps?  But why should we care in this thread unless you are trying to make some kind of connection to bitcoin?  Sure, ethereum and a lot of the other shitcoins suck off the teets of bitcoin, and they would not be able to do shit in terms of pumping at all, if they did not have the security of bitcoin backing up the whole space.

good for my gpus as I will get more btc when I cash in the eth next week.

Likely nothing wrong with short term transitioning any eth that you might hold (or mine) into BTC.. but I would have ethical dilemmas supporting that scam network at all, but sure, if you have found a way to feel comfortable with such participation, then that is your choice.

I sell my eth for btc and fiat. so an eth rally works to get me more btc.

Fine.. is it worth it?  Perhaps.  You seem to have come to that conclusion... so good for you.. but still seems to be like the wrong place to be discussing it, here.

*drying off with $8,000 towel.*

That's EPIC!

In my case, I'm currently using a $2000 Trezor...

At least we haven't been eating $90M pizzas (yet)!

I have a couple $1,300 sandwiches

Dont forget my $33,000 iphone 6..

(1.8 BTC on feb 2016)

I had a bloke code some stuff that I can code now myself in 1 hour. Only 25 BTC 

This type of thing is easy to joke about, and I definitely bought my share of thousand dollar cookies.

But I think it's important to remember that by buying those sandwiches and pizzas - and buying them with BTC, not by converting to cash first - early adopters paved the way psychologically for people to believe that BTC are actually worth something. Who knows whether the bitcoins that bought those things would really be worth that much now if they hadn't been spent?

That's a decent point.

And, there were a considerable number of people who engaged in spend in replace, too.

I proclaim that any BTC that I spent between 2014 and late 2016, I replaced almost immediately. 

Between 2017 and 2019, I still had mostly attempted to replace any BTC that I spent, but I had a bit more complicated arrangement.  I have claimed some BTC sales in taxes in several of those years, too.. so there is that angle, as well.

[smartcomet]

https://twitter.com/beeple/status/1329639429900787714/photo/1

[lightfoot]

There was this member called Eddie
Claimed he'd taken up with a new reddie.
He regaled us with tales
With many likely details.
But we all knew Eddie's reddy was his teddy.

Did I mention curves?

Well, I'm convinced. You got a Snell rated helmet?

Edit: Fuck it just crossed 18,950. Hey, remember when Eddie wrote 18.857 on his girlfriend's ass? Man that was so long ago.....

[BobLawblaw]

Those crazy bastards are about to attack the wall @ $19k USD/BTC...

PUMP IT UP !
https://www.youtube.com/watch?v=k001JX-D-dA