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

[AlcoHoDL]

The point is, comparing things/events from the past to one of current time (and the future), which are not even very similar, is just wrong in most cases.
I mean: Tulips? REALLY?!

EDIT: Bitcoin is the first real counterweight for fiat money. How can somebody, even a so called "expert" even compare this to the irregularly crazy tulip mania?

Stupid questions: I've always wondered... How did the owners keep their tulips in good condition? Weren't they worried that they may dry out and die? How long can a tulip even last?

I would be very worried if I had to take care of my Bitcoins like plants. You know, water them, get them out in the sun, protect them from pests, feed them with nutrients... Hard work! Fortunately, my Trezor and/or paper seed backups don't need anything to survive, not even power. Maintenance-free forever!

Maybe a tuliptologist has an answer for this. But onions for example hold also a long time if proper stored... I think...

... tulips garlic and onions all have bulbs that are perennial. Garlic and onions are alliums and the dried bulbs can last 12-18 months at the extreme in perfect storage conditions.

... the tulib bulb mania was to do with the speculative frenzy that came about when derivatives were invented to hedge/gamble on which bulbs would be in fashion for the next growing season.

tulip flowers produce new bulbs at their base at the end of the flowering season and there is always, still today, a robust fluctuating market in different bulbs based on the colours, stripes, size, etc of the flowers .... a lot like shitcoins

someone figured out how to sell futures on rare fashionable tulip bulbs around the same time there was a general speculative mania in dutch coffee houses share trading from governments creating easy free money while experimenting with fiat money ... sound familiar?

Good info, thanks!

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[Arriemoller]

The point is, comparing things/events from the past to one of current time (and the future), which are not even very similar, is just wrong in most cases.
I mean: Tulips? REALLY?!

EDIT: Bitcoin is the first real counterweight for fiat money. How can somebody, even a so called "expert" even compare this to the irregularly crazy tulip mania?

Stupid questions: I've always wondered... How did the owners keep their tulips in good condition? Weren't they worried that they may dry out and die? How long can a tulip even last?

I would be very worried if I had to take care of my Bitcoins like plants. You know, water them, get them out in the sun, protect them from pests, feed them with nutrients... Hard work! Fortunately, my Trezor and/or paper seed backups don't need anything to survive, not even power. Maintenance-free forever!

It wasn't tulips, it was tulip futures. It's just called a tulip bubble because the underlying was tulips.

Edit: Marcus beat me to it.

[JayJuanGee]

I am 28 with 12 Experience-Points ... I couldn't convince my father in bitcoin. He text me the Price if it's goes up, but he don't want no for himself.
But I bought for him anyway, after I bought him a car and he gave me a little money to not have a bad feeling, that I bought him a car - march 2018 the btc was falling. So someday, I gave him a huge amount of money, and he can spend it

I also couldn't convince my brother. At least not yet!

I stopped trying to convince people. Now others are trying to convince me to show them how. Yeah, right. It was fun for them when I was trying to explain Bitcoin to them and they were laughing at my face. "Google it" is my reply now. I can't be bothered.

I only did this because it is my family. I don't care about other in this case

Yes, I can understand that. One of my family members listened to me. He is 4x of what he invested. If he had not played with shitcoins he would now be 12x. I calculated it for him, but he now insists altcoins are his way to the moon. Good luck to him.

BTW, another ATH: $51,316.71 $51,459.29

Yep... a kind of gambler's mentality that may or may not end up working out.  Seems that the odds are against such mentality playing out to make up for losses that he already made by failing to adequately be in bitcoin and what he would be able to achieve by just sticking with king daddy.  

Never know?  Never know?  in terms of gambling actually paying off and surely if he does end up picking his shitcoins correctly, AlcoHoDL, you will probably never hear the end of it, just like you are likely NOT going to forget his ongoing dumbness for already having had underperformed because of getting involved in shitcoins nor will you forget if his portfolio underperforms bitcoin (to the extent that the gambler actually discloses the truth to you, and gamblers do tend to have loose connections with actual truth rather than the truth that they imagine to be the case).

Good morning, WO. C'mon, BTC to 60,000 We can do it!

Haven't you heard?

Bitcoin is stalled.

Just ask anybody, including but not limited to Biodom.

 

[savetherainforest]

So.... I was just thinking... (yes I think too much...)

If we already started this hate-shunning game against banks-billionaires and other powerful crypto hungry entities like country governments. Hallo North Korea?? U fine?

Anyway... back on track to the subject. I was thinking the following :  When do we start banning specific bitcoin addresses of certain people or entities from entering our 'specific Citadel' or our 'network of Citadel systems'. Do we have an alternative blockchain that is just for having a database of "blacklist-addresses" from alternative crypto networks or also BTCitcoin??


                                         


HueHueHueHue HueHue HueHue Hueeeeeee!!!! Axaxaxaxa.... All Hail and Praise The New Crypto Nazi Empire! ...            

[d_eddie]

When do we start banning specific bitcoin addresses of certain people or entities from entering our 'specific Citadel' or our 'network of Citadel systems'. Do we have an alternative blockchain that is just for having a database of "blacklist-addresses" from alternative crypto networks or also BTCitcoin??

Censoring bitcoin, sure. Easy. Go ahead!

(yes I think too much...)

I didn't write that 

[savetherainforest]

So.... I was just thinking... (yes I think too much...)

If we already started this hate-shunning game against banks-billionaires and other powerful crypto hungry entities like country governments. Hallo North Korea?? U fine?

Anyway... back on track to the subject. I was thinking the following :  When do we start banning specific bitcoin addresses of certain people or entities from entering our 'specific Citadel' or our 'network of Citadel systems'. Do we have an alternative blockchain that is just for having a database of "blacklist-addresses" from alternative crypto networks or also BTCitcoin??


                                         


HueHueHueHue HueHue HueHue Hueeeeeee!!!! Axaxaxaxa.... All Hail and Praise The New Crypto Nazi Empire! ...            

Censoring bitcoin, sure. Easy. Go ahead!

Not bitcoin dude. Censoring specific People. ( /Wink-Wink m-eLon-tusk! )    


*edit(): Don't worry... I was joking, he is SAFU in his Dogo Citadel.

[lightfoot]

All bitcoins are welcome in my wallet and my nodes. I guess you could run a hacked node to block specific addresses, but man that would have to be picked up by a very large percentage of the network.

[savetherainforest]

All bitcoins are welcome in my wallet and my nodes. I guess you could run a hacked node to block specific addresses, but man that would have to be picked up by a very large percentage of the network.

You can just have it do a 1 hour routine "grid-search"  on a weekly bases of just the addresses that are manually being added to the protocols to be tracking and spy-banning the child-parent addresses.  

And it just updates the new addresses that got spawned from the Devil Mother addresses that spawned them, and it will be easy to get a track of them and blacklisting-blocking specific addresses.    

[d_eddie]

All bitcoins are welcome in my wallet and my nodes. I guess you could run a hacked node to block specific addresses, but man that would have to be picked up by a very large percentage of the network.

You can just have it do a 1 hour routine "grid-search"  on a weekly bases of just the addresses that are manually being added to the protocols to be tracking and spy-banning the child-parent addresses.  

And it just updates the new addresses that got spawned from the Devil Mother addresses that spawned them, and it will be easy to get a track of them and blacklisting-blocking specific addresses.  

Good luck hiding those 'banned' addresses from all the other miners. Or maybe I'm misunderstanding your idea?

[JayJuanGee]

@BTC_Archive
If #Bitcoin  crosses the dark blue line to about 65k - forget about 2017 and start comparing this bull market it 2013! 🚀
https://twitter.com/btc_archive/status/1362088361876467714?s=21


$100,000 per BTC is less than a 100% price rise from here. Few understand this.

I still do not understand how going above $65k would cause this bull market to look more like 2013.  Are we saying that the first of two exponential price rises would come to an end, and then we would have a correction and another price rise.

i get the part about easy to double, and surely longer term bitcoin HODLers understand that concept and are not easily deterred by mere price rises signifying that we are yet at any kind of blow off top, though none of us really knows, either, at what point we might be at either an end to the price rise or that we might be in store for a bit of a break in BTC price rises, whether it ends up being a 2-4 week break or something longer (such as 2013) that might last 5-7 months or even more?

[Hueristic]

Yeah, we're poorrer again. God it sucks.

FTFY          and indeed it s*cks donkeyc*ck

Donkeyco*in sounds like a great shitcoin as a noble alternative for Dogecoin or so. What are we waiting for?

Oh you haven't heard of the new craze called Spiffcoin. It is a spoof off of how doge was meant to be a joke on how the altcoin markets work but now it is bigger than the former ceo knew it could be.
https://youtu.be/zKpMEX9Ml2E

They are saying you can meme just about anything and create a coin based on it and people will buy into it.
Quite silly really.

https://bitcointalk.org/index.php?topic=3920469.msg56348751#msg56348751

[xhomerx10]

Cool hat stuff....

Hey man, can you make me a Fred Flintstone hat? After listening to that Bloomberg bit I'm yelling YABBA DABBA DOO!!! at every ATH......

 I used to go home from school at lunch hour to watch The Flintstones 
 Sounds like a great idea for a hat!  I just started a set of night shifts but I'll work on it asap.

[Richy_T]

Yep... a kind of gambler's mentality that may or may not end up working out.  Seems that the odds are against such mentality playing out to make up for losses that he already made by failing to adequately be in bitcoin and what he would be able to achieve by just sticking with king daddy.  

Never know?  Never know?  in terms of gambling actually paying off and surely if he does end up picking his shitcoins correctly, AlcoHoDL, you will probably never hear the end of it, just like you are likely NOT going to forget his ongoing dumbness for already having had underperformed because of getting involved in shitcoins nor will you forget if his portfolio underperforms bitcoin (to the extent that the gambler actually discloses the truth to you, and gamblers do tend to have loose connections with actual truth rather than the truth that they imagine to be the case).

For sure. I don't regard bitcoining as gambling but we are definitely gambling adjacent. Nothing like those dopamine hits during a rally but for the susceptible, those become something to chase and the altcoins will happily give them to you at the cost of your stash.

[Richy_T]

All bitcoins are welcome in my wallet and my nodes. I guess you could run a hacked node to block specific addresses, but man that would have to be picked up by a very large percentage of the network.

LukeJR hardcoded blacklists in his Knots node back in the day. I don't think it was widely adopted even when he slipped it into a major Linux distribution's repository. It also used tonal notation.

I still do not understand how going above $65k would cause this bull market to look more like 2013.  Are we saying that the first of two exponential price rises would come to an end, and then we would have a correction and another price rise.

Yeah, 2013 was also heavily influenced by the implosion of MtGox where for a long time, the only way to exit funds was to buy Bitcoin. Still a good year for those of use without money there though, I guess.

[JayJuanGee]

Gotta tell you, I remember people thinking it was going to fall once Biden came in. Hasn't worked out that way which could mean Bitcoin is more than a disaster hedge.

Damn interesting day.

All kinds of DOWNity theories kind of fade into the background when king daddy ongoingly continues to fail/refuse to cooperate.  Sucks to have failed/refused to adequately, reasonably and prudently pee pare ur (surely not referring to u, lightfoot) lil selfies for UPpity.

 

We can say that Bitcoin broke all the resistances one by one. After passing the 49000$ threshold, which is psychologically, it started to keep itself in the 50000$ band. Let's see what will happen after that.

Bitcoin no does not work like dat.

Sorry to break dee newses.

 

Yep... a kind of gambler's mentality that may or may not end up working out.  Seems that the odds are against such mentality playing out to make up for losses that he already made by failing to adequately be in bitcoin and what he would be able to achieve by just sticking with king daddy.  

Never know?  Never know?  in terms of gambling actually paying off and surely if he does end up picking his shitcoins correctly, AlcoHoDL, you will probably never hear the end of it, just like you are likely NOT going to forget his ongoing dumbness for already having had underperformed because of getting involved in shitcoins nor will you forget if his portfolio underperforms bitcoin (to the extent that the gambler actually discloses the truth to you, and gamblers do tend to have loose connections with actual truth rather than the truth that they imagine to be the case).

For sure. I don't regard bitcoining as gambling but we are definitely gambling adjacent. Nothing like those dopamine hits during a rally but for the susceptible, those become something to chase and the altcoins will happily give them to you at the cost of your stash.

I still believe that bitcoin investment can be structured in such a way to minimize the gambling inclinations, and one method is accumulate and pure HODL, but surely at some point, some selling is going to need to start to take place for those guys (and gal) who ONLY accumulate and HODL.

So, perhaps the devil is in the details in what I mean by gambling versus investing... because the more that trading is involved, then it can start to seem more like gambling too..... and I suppose that whatever battles that I have with the gambling mindset is a kind of context specific way of bashing behaviors that are shorter term in nature.

I don't know if this helps or just opens more cans of worms.  

[aesma]

Last week I had too much work and missed the time corn went over 40000€. Now it's firmly over that. My father is nagging me to sell, to give money to my sister (by selling), I told him countless times I sold enough (too much) and am not going to sell anymore until much higher prices if ever, but he continues, annoying !

Yep... I recall that you were selling a lot in the sub $12k prices and expecting to buy back lower and to keep working the back and forth of BTC's price movements to buy more bitcoin, but that strategy does not work to accumulate bitcoin, it ONLY works to cause you to get "left behind" if you end up selling too much because you are hoping to buy back lower.

Anyhow, many of us learn from various mistakes that we make, and it ends up being too bad if whatever stash that you end up having makes you feel like you did not prepare enough for UP in such a way that you could shave a bit of extra BTC off here and there, if you were to to so choose.

There ends up being a couple of factors to consider, and one is the size of your BTC stash relative to your other investments, and the question about whether you feel that you have accumulated enough BTC.. and then another thing ends up being your average costs per BTC, and if your average cost per BTC might be in the $7k to 9k arena, then you might not feel that your stash is sufficiently profitable to begin to shave off some BTC here and there along the way.  Of course, you feel a bit better to shave off a bit of BTC here and there if your average cost per BTC happens to be either in the lower 4 digits such as below $2k per BTC or even if it is dipping into the triple digits, and there are some OLDer timers here who have even fewer hesitations about scrapping off some BTC here and there because either their average costs per BTC is in the lower three digits, such as below $200 or even in the double or single digits.. rare but still existing in some degree of plentifulness. 

I bought/mined my BTC cheap and got more money out than in so my average cost is negative. But I never had a big number of coins (at most in the low 2 digits). I've done worse than to sell a couple of coins at 12K ! But for sure I didn't expect such a quick rise so soon. I've made my peace, if the price stays where it is I'm OK, if it goes higher I still have an amount that will make me comfortable or life changing depending on where it goes, and if it goes down to around 20K I'm ready to buy.

[aesma]

In another thread I made a quick calculation that might be way off, but maybe not. Instead of looking at the price of all BTC compared to the price of a large company (total value of stocks) or the price of all gold, I looked at the richest people, in BTC on one side and fiat/stock on the other.

I eliminated satoshi as he's an outlier and is also an unknown entity. From what I can find the first few richest individual holders of BTC have about 100 000 BTC each. The richest in fiat have about 200 billion $. If you own 1 BTC, you own 1/100 000 of the wealth of the richest BTC hodler. That's similar to owning 2 million dollars compared to Elon/Bezos.

Something to think about.

[LUCKMCFLY]

Now everyone wants to embed in Bitcoin, I knew this day would come, little by little those who never believed begin to accept Bitcoin.

Bitcoin soars to new high above $52,000; sustainability concerns rise

Anthony Scaramucci, founder and managing partner of hedge fund SkyBridge Capital and former communications director under the Donald Trump administration, also told CNBC in Wednesday he sees bitcoin hitting $100,000 per unit before the year ends, citing supply and demand. SkyBridge is also invested in bitcoin.

Source: https://www.livemint.com/market/cryptocurrency/bitcoin-soars-to-new-high-above-52-000-sustainability-concerns-rise-11613617486410.html

[JayJuanGee]

Last week I had too much work and missed the time corn went over 40000€. Now it's firmly over that. My father is nagging me to sell, to give money to my sister (by selling), I told him countless times I sold enough (too much) and am not going to sell anymore until much higher prices if ever, but he continues, annoying !

Yep... I recall that you were selling a lot in the sub $12k prices and expecting to buy back lower and to keep working the back and forth of BTC's price movements to buy more bitcoin, but that strategy does not work to accumulate bitcoin, it ONLY works to cause you to get "left behind" if you end up selling too much because you are hoping to buy back lower.

Anyhow, many of us learn from various mistakes that we make, and it ends up being too bad if whatever stash that you end up having makes you feel like you did not prepare enough for UP in such a way that you could shave a bit of extra BTC off here and there, if you were to to so choose.

There ends up being a couple of factors to consider, and one is the size of your BTC stash relative to your other investments, and the question about whether you feel that you have accumulated enough BTC.. and then another thing ends up being your average costs per BTC, and if your average cost per BTC might be in the $7k to 9k arena, then you might not feel that your stash is sufficiently profitable to begin to shave off some BTC here and there along the way.  Of course, you feel a bit better to shave off a bit of BTC here and there if your average cost per BTC happens to be either in the lower 4 digits such as below $2k per BTC or even if it is dipping into the triple digits, and there are some OLDer timers here who have even fewer hesitations about scrapping off some BTC here and there because either their average costs per BTC is in the lower three digits, such as below $200 or even in the double or single digits.. rare but still existing in some degree of plentifulness. 

I bought/mined my BTC cheap and got more money out than in so my average cost is negative. But I never had a big number of coins (at most in the low 2 digits). I've done worse than to sell a couple of coins at 12K ! But for sure I didn't expect such a quick rise so soon. I've made my peace, if the price stays where it is I'm OK, if it goes higher I still have an amount that will make me comfortable or life changing depending on where it goes, and if it goes down to around 20K I'm ready to buy.

Fair enough.  If you believe that you have enough coins, then you do not need to continue to accumulate, but if you question if you have enough coins, it might not hurt to continue to accumulate until you reach your target.  But, hey whatever, sounds like you have given quite a bit of thought to your own accumulation situation, but sometimes it may be worthy of reconsidering whether some tweaking might help you to live in even MOAR "peace" with ur lil selfie.  #nohomo

[modrobert]

I keep wondering how useful Bitcoin will be when M1 hyperinflation goes exponential, it still requires some infrastructure like internet to function.