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

[xhomerx10]

Everyone got their 69 memes ready to go? It might be a narrow window of opportunity.

 That's what she said.

 edit: I'm not entirely sure there's anything left in the 69 meme closet.  Dude here has them all wrapped up and incarcerated.

 

[ChartBuddy]

Explanation

[philipma1957]

Lets give buddy credit for a heavy lifting this Friday the 15th.

[BobLawblaw]

I'm honestly not sure what this affront to all that is good and decent in the world is, but I feel a violent compulsion to overhand throw him into low earth orbit.

Good grief.

[ChartBuddy]

Explanation

[Syke]

They're coming for your corn.

[aysg76]

Ready to enjoy New ATH party soon and i am liking Chartbuddy printing $60-$61k charts #Nohomo

After so many weeks the birds are chirping in the backyard breaking their long resistance.

[sirazimuth]

I'm honestly not sure what this affront to all that is good and decent in the world is, but I feel a violent compulsion to overhand throw him into low earth orbit.

Good grief.

him? goddamn! I thought it was a her! .... oh wait, I shouldn't be making that distinction...

.....

Me, the Boomer, selling some bitcoin @$61,500 that I mined @$200.   .....

[JayJuanGee]

just sold a piece for 60k

For those of you rejoicing too much in regards to selling a chunk at $60k-ish, that might start feeling like Bawb's selling of a million or so at $15k in November 2020.. felt good at the time, but we never even came close to returning to those kinds of numbers.. and really we ONLY came down to about $30k.. which is about double $15k.. the last time that I checked.

maths.

and

science, too....

Where are we heading to? 2017/18 we were expecting 10k to hardly break and then we shot to 20k. This time we have big players in the game who probably gonna take profits earlier?

Oh gawd...    Always hearing the bullshit about all the folks who are supposedly going to be taking profits early...

Yeah rrrrrrriiiiiiiggggghhhhhhhtttttt.

 

I think I will start to sell 1% now, 2% at 60k€, 3% at 70k€ and so on. 2013 I was a newbie. 2017 I fell for the "you never sell Bitcoin" talk and seen it dumping 80%. This time wanna take profits.

No problem with taking some profits, but if you are asserting that you are taking profits merely because "others" are going to do it, then that seems to be a faulty reason to engage in such behaviors...

On the other hand, shaving off small increments.. that is not a bad strategy.... one decent formula is to take somewhere in the ballpark of 1% for every 10% rise in price, but of course more or less aggressive strategies can be employed.. as your formula does seem to be a bit more aggressive, and it may end up being right or it may end up that you sell too many BTC too soon.. that is up to you to speculate about how far you believe that they BTC price might go up and perhaps also when to buy back, if at all..

just sold a piece for 60k

Last night I sold a small sliver of my BTC stack at some $59,500.  Taking profits is not a bad thing for essentially any investment that has had a sharp price run-up.  OK, my timing is not great, I have known and mentioned that here many times.

*   *   *

The problem I have with being "All-Inn" with just BTC is that there are unknown risks out there ("Black Swans").  

huh?  What cha talking about willis?  I mean orobtc?

You have never been even close to "all in" BTC.

You have frequently talked about ONLY having small portions of your overall wealth in BTC and that you are frequently talking about skimming some off or taking profits.

you hardly would be any kind of exemplary of someone who is overallocated to BTC.. not even close, if we go by the representations of your historical posts.

Most (not all of course) of my thinking follows that of most of W.O.  But with Black Swans (by definition not knowable), there really are unknown risks.  Unknown risks are why I diversify.

That said, I agree with Saylor (and the band of warriors here at W.O.) that BTC is likely (note word "likely") the Apex Asset.  But, you never know...:

"The Ten Thousand Things rise and fall without cease"

-- Lao Tse

Your way of phrasing matters is strange..

EDIT: just saw BTC price cross $61,000.  "Shoulda sold that slice this morning"  Ah well, I did write that my timing is not the best...

Your phrasing is not the best either... I am repeating my lil selfie.

[Sayeds56]

Bitcoin is Rocking, next likely Target is 67K.

[somac.]

If I sold a piece every time philipma sold a piece, I'd be... well, broke and not bitcoin rich.

Maybe rich, but Bitcoin poor

Few understand what’s more important

will sell another piece based on this advice.


If I sell 0.003 each and every day of the month It comes to 30 x 0.003 = 0.09 a month

If  I earn .14 btc a month I am stacking 0.05 a month.

I am fine with this.

The mine keeps growing and I keep getting more btc in earnings each month.

Eventually the difficulties will go through the roof but I 3x the size of the mine this year so it works for me and my partners.

It seems some people don't understand you're running a business here. Hard to expand the business if you don't spend some revenue on increasing infrastructure. And if you didn't expand, your stack would be much smaller than it is now.

[Xinarae*]

Ready to enjoy New ATH party soon and i am liking Chartbuddy printing $60-$61k charts #Nohomo

After so many weeks the birds are chirping in the backyard breaking their long resistance.

Already $61.5k+ stay now as soon as $70k+ very short time.

[ChartBuddy]

Explanation

[philipma1957]

If I sold a piece every time philipma sold a piece, I'd be... well, broke and not bitcoin rich.

Maybe rich, but Bitcoin poor

Few understand what’s more important

will sell another piece based on this advice.


If I sell 0.003 each and every day of the month It comes to 30 x 0.003 = 0.09 a month

If  I earn .14 btc a month I am stacking 0.05 a month.

I am fine with this.

The mine keeps growing and I keep getting more btc in earnings each month.

Eventually the difficulties will go through the roof but I 3x the size of the mine this year so it works for me and my partners.

It seems some people don't understand you're running a business here. Hard to expand the business if you don't spend some revenue on increasing infrastructure. And if you didn't expand, your stack would be much smaller than it is now.

Bingo. Exactly this. I have a good power deal. I am nowhere near capacity and I expand the mine buying gear as dca.

I buy on credit when coins dip like the 30 k drop in the summer.

When coins go up 40k 50k 60k I sell some btc.

This mine started with four s9s in dec 2018. that is 36th.

on the btc side it is now over 1700th (4 people in on it)

since we do not talk shit coins I won’t say the amount of  gpus and the L3+ ‘s

But we have quite a few.

We would not be growing the farm without plowing back some coin.

Since times are good I sell some coin to pay the credit off and also get some gear with out credit.

[savetherainforest]

just sold a piece for 60k

Good for you!!! Don't listen to these "BagHoldersForLifeShills!".     

Last time it was $63-64K..... I sold as well and bought me some Doge & other dog meme coins.

But I knew last time it had to be a big correction. This time the correction will be max at $52K. If it dips at $54K I think u can safely catch that price, if it doesn't go up now too much or too fast. But to be honest, I don't see it going too much over 70K in October. Maybe next month, but after the correction at $52K < > $55K (depending on how high it goes.).     

[ChartBuddy]

Explanation

[xhomerx10]

Hey ChartBuddy!  The breaking of an ATH is a formal affair; you'd better dress up for the occasion.



avatar-sized

[OROBTC]

...

JJG #593636

Yeah, well, I am not the most articulate at times.  You are correct that I have never been anywhere close to All-Inn on BTC.  I would never be All-Inn on any asset.  Even the Apex Asset, because I do not know what will happen.  When BTC price runs up so fast, as it does from time-to-time, I have a self-imposed duty to slice off small parts of my BTC stack, BTC could go to $0 and I would still be WAY ahead.

Re other your other comments on my post, I was just demonstrating that I would be a terrible trader, my (short-term) timing is terrible.  I tell people who know me that they could make money taking the other side of any trades I make.

JJG, you (and various others here) have added value to my life, by passing along wisdom and great info (as did Bob re pointing me to Gemini).  Please, all my brothers & sisters here, do not get the impression that I am in any way anti-Bitcoin, most assuredly not.  I am thankful to you all for your aid in helping me attain stronger financial independence.  

Evidently my thinking is very different than most have here at W.O.

*   *   *

I ran into a couple of interesting articles by Alexandar Svetski via https://bitbo.io, a nice site that offers links to Bitcoin Magazine articles.  The below two discuss how Bitcoin Maximalists are doing huge favors to our community:

https://bitcoinmagazine.com/culture/how-toxic-bitcoiners-are-protecting-ideals

https://bitcoinmagazine.com/culture/bitcoiners-are-the-remnant

I am quite sympathetic to Bitcoin Maximalism, it's just that I am not there (I do eschew schnittcoins though), I do accept that most here at W.O. are way ahead of me in Bitcoin knowledge, and that's as it should be.  I don't mine, I don't program, I did not even start with BTC until ~2014.

Svetski discusses the notion that Bitcoiners are a "Remnant", in that the Remnant is forming a core of HODLers that will eventually bring in the Masses.  Svetski sees NO NEED to try and convince others to buy Bitcoin.  The Masses will come of their volition in due course.  Svetski also shows that members of the Remnant expect the best from their friends, and offer their best to them as well -- something I do see here at W.O.

Of special interest to me was his observation that members of the Remnant will find each other, once again in due course.  In my own case, I found many Remnant members HERE at W.O. in my own rambles about the Internet (researching BTC).  I was not dragged here..., the Remnant found me.

Svetski seems to be onto something.  Highly recommended.

[somac.]

If I sold a piece every time philipma sold a piece, I'd be... well, broke and not bitcoin rich.

Maybe rich, but Bitcoin poor

Few understand what’s more important

will sell another piece based on this advice.


If I sell 0.003 each and every day of the month It comes to 30 x 0.003 = 0.09 a month

If  I earn .14 btc a month I am stacking 0.05 a month.

I am fine with this.

The mine keeps growing and I keep getting more btc in earnings each month.

Eventually the difficulties will go through the roof but I 3x the size of the mine this year so it works for me and my partners.

It seems some people don't understand you're running a business here. Hard to expand the business if you don't spend some revenue on increasing infrastructure. And if you didn't expand, your stack would be much smaller than it is now.

Bingo. Exactly this. I have a good power deal. I am nowhere near capacity and I expand the mine buying gear as dca.

I buy on credit when coins dip like the 30 k drop in the summer.

When coins go up 40k 50k 60k I sell some btc.

This mine started with four s9s in dec 2018. that is 36th.

on the btc side it is now over 1700th (4 people in on it)

since we do not talk shit coins I won’t say the amount of  gpus and the L3+ ‘s

But we have quite a few.

We would not be growing the farm without plowing back some coin.

Since times are good I sell some coin to pay the credit off and also get some gear with out credit.

You and your partners have done very well. Going from 36 to 1700 is pretty awesome.

I would like to start a mining business myself, but there is no way in my country to get power cheap enough. When I get a rural property I will reconsider it if it is economic to run off solar in my location.

[ChartBuddy]

Explanation