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

[lightfoot]

I once had 60 ETH, and 100K other portfolio. Once I were a millionaire, but virtually.

Once I was a Hippie
Then I was a stockbroker
Now I am a hippie again....

(The Bobs, "Songs for Tomorrow Morning")

[LFC_Bitcoin]

@100trillionUSD
Can't wait to see the 2nd leg of this #bitcoin  bull market🚀

https://twitter.com/100trillionusd/status/1389891386275729410?s=21



@johnkvallis
Shitcoins: Nobody wants to be the one left holding the bag.

Bitcoin: Everyone competes to be left holding the biggest bag.

You can only #hodl #bitcoin
https://twitter.com/johnkvallis/status/1389635466132135939?s=21



@saifedean
Hundreds of US banks will soon allow their customers to buy, sell, and hold bitcoin in their existing accounts, thanks to @NYDIG_BTC
https://t.co/za3fTudqNg
https://twitter.com/saifedean/status/1389910108923174913?s=21

[rdbase]

You know how when random relatives contact you and ask about bitcoin that it's about time to start considering selling?
I got asked my a distant cousin "what do you think about dodge?".

Yup the FOMO indicator is the best indicator.
Combined with a parabolic growth means GTFO!

The "Day of the dead DOGE" seems to be near, yes.
I also expect Bitcoin to be back at $58k within a few days, according to my TA lines and shit.
We'll see.

Gotta cash out a bit for floor tiles, doors and the electrician, soon.

Once again I'll say it: DOGE has a lot of appeal for the common man:

• It's inherently inflationary which means it's worth less every day
• It's incredibly centralized with <100 people owning the majority of it
• It has no philosophy behind it other than MOAR COINZ!!!!!
• It is and always will be a funny joke coin, like a set of training wheels
• Only a brain dead person would hold it.

Yep, it's the perfect coin for the masses. No wonder it's pumping.

And that is what the rest of those crypto zombies over at binance who had pumped it up $51.25bln more as of today are hoping.
Oh yeah.. and Elon.
Cause after Saturday. I can see it dumping massively after the hype train is out of the station and goes off the rails.
The joke will be over.

I saw a sad news story the other day. I am paraphrasing, it's easy to find. Some relatively young guy (30's) was celebrating loudly because he became a millionaire (on paper) with Doge. He had invested his life's savings (hundred-something K USD).
He said 'I grew up poor, I'm not selling any of it. I'll wait until it's 10 million, then I'll withdraw a million dollars.' Poor guy.

It's this guy...
https://twitter.com/ProTheDoge/status/1389559038896054273

Hope the kid is on suicide watch post the appending doge pump & dump disaster.
Cause after putting your entire life savings into something and if it goes to hell in a hand basket, then your sh*t out of luck.
Also hope he cashed out a few of those... maybe a million worth.
Then puts it into a real store of value.
BTC
Then he'll be like one of the cool kids.

[Dabs]

I'm still sticking to my fourth rule of crypto: "never sell everything", so I have some left.

I have some billion "Real Stack Coins" ...

What are all your other rules of crypto?

[Biodom]

For the first time, customers of some U.S. banks will soon be able to buy, hold and sell bitcoin through their existing accounts, according to crypto custody firm NYDIG.

https://www.cnbc.com/amp/2021/05/05/bitcoin-is-coming-to-hundreds-of-us-banks-says-crypto-firm-nydig-.html?__twitter_impression=true

This can be important and I hope that they will limit it to just bitcoin.

[Biodom]

I'm still sticking to my fourth rule of crypto: "never sell everything", so I have some left.

I have some billion "Real Stack Coins" ...

What are all your other rules of crypto?

buy high, sell low? 

[LoyceV]

I'm still sticking to my fourth rule of crypto: "never sell everything", so I have some left.

What are all your other rules of crypto?

I'm glad you asked
I can't really answer it though Fourth rule just sounds kinda cool.

I've made several related posts:

Even worse: he's advertising a website (in his profile) that asks people for their private keys, and thus goes against the the first rule of crypto.

That's like the first rule of Bitcoin. You break it, you lose it.

As a rule of thumb: if you can do something without a blockchain, you shouldn't use a blockchain.

By now, I'd say these are the first rules of crypto:

• Not your keys, not your coins
• Verify, don't trust
• Be your own bank
• Never sell everything
• In code we trust
• Don't invest more than you're willing to lose (this rule also applies to fiat)
• DYOR
• We are all Satoshi
• HODL

(no idea who's the original creator of most of those rules)

Please add to the list, the order is negotiable.

[Dabs]

Kinda reminds me of "Wizard's First Rule" and the 14 other rules about that book series. People are stupid. hehe.

Although I think that there should be bitcoin specific rules, which are essentially the consensus rules, like "There will never be more than 21 million bitcoins." I guess people just have to understand some of the foundations of how bitcoin and most other crypto work.

[Richy_T]

"Don't chase the market"
"Everyone talks their book"
"Losses are rarely mentioned"
"Gains are boasted often"
"Learn to differentiate between luck and skill"
"Recognize when you're just pure gambling"
"If you're not the predator, you're probably the prey"

[Biodom]

Here are my rules:

1. Always buy to replace btc that you sold paying for things (this wouldn't work in case of a ranch or lake buying, obviously).
2. Spend only fiat or stablecoins (not btc) buying anything else.
3. Never invest more than 20% (an absolute limit) or 10% (typical) on ANY investment (that includes initial investment in btc, but does not mean selling to re-balance).
4. Never re-balance anything automatically.
5. If not DCAing, buy ONLY in a rising or stable market, not in a declining market.
6. Sell alts for 'things' with abandon (hopefully, at spikes). Easy come, easy go.

[Dabs]

"Don't chase the market"
"Everyone talks their book"
"Losses are rarely mentioned"
"Gains are boasted often"
"Learn to differentiate between luck and skill"
"Recognize when you're just pure gambling"
"If you're not the predator, you're probably the prey"

I wouldn't call those "rules" ... the last one is one I hear quite often in the 2nd Amendment environment, together with "Gun Control means using both hands."

The "Not your keys" = that one maybe is a rule. I think a "rule" in the case of crypto or bitcoin would be something that is ... like religiously important or sacred equivalent.

Expanding on the "not your keys" would extrapolate the air-gap or offline or cold storage principles, but there's no need to make additional rules related to that.

Really, there should be just the top 10 most important ones, and everything else derives from those. 10 Commandments of Bitcoin or something. I recall someone already posted something like that before.

*edit*

I found some that are interesting:

https://www.sylvainsaurel.com/the-ten-commandments-of-bitcoin/
https://bitcointencommandments.com/
https://armantheparman.com/the-10-commandments-of-good-bitcoining/

[Sayeds56]

Kinda reminds me of "Wizard's First Rule" and the 14 other rules about that book series. People are stupid. hehe.

Although I think that there should be bitcoin specific rules, which are essentially the consensus rules, like "There will never be more than 21 million bitcoins." I guess people just have to understand some of the foundations of how bitcoin and most other crypto work.

This is how BTC is different and  superior to all form of currencies. we can expect Bitcoin to grow in unexpected ways as new utility is found. Bitcoin owners can expect that its usefulness will only increase over time. In contrast, altcoin owners have substantially more risk of the coin falling into disuse.


https://jimmysong.medium.com/why-bitcoin-is-different-than-other-cryptocurrencies-e16b17d48b94

[BitcoinBunny]

As a straight guy I have to say I'm not into dildos normally.

But green dildos? Yep, I like green dildos.

 

[Biodom]

btc is flying  

[Arriemoller]

Just sold a teeny weeny little bit, so now the price is pretty sure to go up.
Also, it's going to rain all day today and all day tomorrow, Jippie.

Told you so, didn't I.

[Toxic2040]

the Wednesday morning wall report

#dyor

1h


4h

[BitcoinBunny]

Just sold a teeny weeny little bit, so now the price is pretty sure to go up.
Also, it's going to rain all day today and all day tomorrow, Jippie.

Told you so, didn't I.

Stop selling.
No, actually do sell.

Wait, what?   

[Biodom]

What will happen to btc price once they (exchanges) run out? Someone calculated that projected time for that is 122 days or so (it could happen quicker in a case of large buys).

maybe this...check out etc on coinbase pro...$30-50 higher (30-40%) than others, lol.
if i was not busy right now, I would arb it to smithereens.

[Richy_T]

What will happen to btc price once they (exchanges) run out? Someone calculated that projected time for that is 122 days or so

[Kylapoiss]

As a straight guy I have to say I'm not into dildos normally.

But green dildos? Yep, I like green dildos.

 

So you wouldn't be a bunny in late Hefners house?