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

[Torque]

My investment time was beyond 2030. I have not lost hope I think people might misunderstand when I say I have doubt I have doubt because when I purchased that Bitcoin 1st I was shaking this was not because I was worried but because it was a uncontrollable reaction my body had when I made the order. When I got it in my exchange wallet I prolly checked the address 100 times before sending I even sent multiple "test" amounts to not fuck up.

I think this is a pretty common reaction for anyone buying bitcoin for the first time. In fact I think it is a pretty common reaction for anyone who sends btc to new addresses. There is a constant paranoia feeling that you will fat finger it and fuck up, your btc won't show up, and your coins will be somehow lost forever. The waiting for confirmations for what feels like an eternity doesn't help the feeling either.

Anyone that pretends otherwise is full of shit.

And incidentally, I feel that it is the main reason why Bitcoin won't ever be used primarily as a medium of exchange without a more user-friendly, mindless, easy mode for the Average Joe masses. Like sending a payment with a credit card, a bank account, or an app like Google Pay / Apple Pay at any local store. It needs to be so mindlessly easy, trusting, and instant for the masses that you don't worry that your btc won't show up.

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[Blue King]

Bitcoin Indy 500 Car to race this weekend at Indianapolis Motor Speedway 💥


Source: https://twitter.com/BitcoinMagazine/status/1530521928997425154

[Torque]

OT: Here's the type of shooting in America that you'll notice the national MSM *never* covers (ie., buries the article on their site so it doesn't hit the main webpage) because it doesn't fit their "anti-gun, disarm the citizens" agenda.

Police: Woman with pistol killed man who shot at crowd of people in Charleston
https://wchstv.com/news/local/victim-hospitalized-in-charleston-shooting

[El duderino_]

WoooooW its been a long time

But finally seeing my fam once again

Me+LFC @Paris
Love it

Go go Liverpool

[ChartBuddy]

Explanation

[AverageGlabella]

My investment is for the long term but I can not help feel down when I see 10000s get knocked off my investment I think this is natural to have self doubt?

Doubt in what? That you made the right decision to buy bitcoins? I'm sure going in you knew that 20% swings in Bitcoin price are very common so that volatility must have been factored in?

Don't get me wrong, I'm not trying to belittle your concern. I'm just saying that checking how much you're down a few months into a long-term investment is counter-productive to the whole "long term" idea.

I used to chart my "wealth" (cash, stocks, house, retirement accounts, and then bitcoins too) in a spreadsheet on the 1st of every month but then I reached a point where even a 1% drop in the "market" seemed to negate my entire month's earnings, so I decided to do that only once a year. It been going only up since then. Magic.

When you put it that way I know this deep down I just cant help this response and I am guilty of checking my finances on a spreadsheet. This is why I love WO because they are not afraid to tell you when you are stupid :D

[AverageGlabella]

My investment time was beyond 2030. I have not lost hope I think people might misunderstand when I say I have doubt I have doubt because when I purchased that Bitcoin 1st I was shaking this was not because I was worried but because it was a uncontrollable reaction my body had when I made the order. When I got it in my exchange wallet I prolly checked the address 100 times before sending I even sent multiple "test" amounts to not fuck up.

I think this is a pretty common reaction for anyone buying bitcoin for the first time. In fact I think it is a pretty common reaction for anyone who sends btc to new addresses. There is a constant paranoia feeling that you will fat finger it and fuck up, your btc won't show up, and your coins will be somehow lost forever. The waiting for confirmations for what feels like an eternity doesn't help the feeling either.

Anyone that pretends otherwise is full of shit.

And incidentally, I feel that it is the main reason why Bitcoin won't ever be used primarily as a medium of exchange without a more user-friendly, mindless, easy mode for the Average Joe masses. Like sending a payment with a credit card, a bank account, or an app like Google Pay / Apple Pay at any local store. It needs to be so mindlessly easy, trusting, and instant for the masses that you don't worry that your btc won't show up.

Sad news is I am not a 1st time buyer which sounds sad when I react like this. I need some software which allows you to compare 2 strings to see if they are identical that way I would not worry about cocking up the addresses which I always check many times before submitting with lower levels of btc

[Torque]

My investment time was beyond 2030. I have not lost hope I think people might misunderstand when I say I have doubt I have doubt because when I purchased that Bitcoin 1st I was shaking this was not because I was worried but because it was a uncontrollable reaction my body had when I made the order. When I got it in my exchange wallet I prolly checked the address 100 times before sending I even sent multiple "test" amounts to not fuck up.

I think this is a pretty common reaction for anyone buying bitcoin for the first time. In fact I think it is a pretty common reaction for anyone who sends btc to new addresses. There is a constant paranoia feeling that you will fat finger it and fuck up, your btc won't show up, and your coins will be somehow lost forever. The waiting for confirmations for what feels like an eternity doesn't help the feeling either.

Anyone that pretends otherwise is full of shit.

And incidentally, I feel that it is the main reason why Bitcoin won't ever be used primarily as a medium of exchange without a more user-friendly, mindless, easy mode for the Average Joe masses. Like sending a payment with a credit card, a bank account, or an app like Google Pay / Apple Pay at any local store. It needs to be so mindlessly easy, trusting, and instant for the masses that you don't worry that your btc won't show up.

Sad news is I am not a 1st time buyer which sounds sad when I react like this. I need some software which allows you to compare 2 strings to see if they are identical that way I would not worry about cocking up the addresses which I always check many times before submitting with lower levels of btc

Honestly and sadly, the best most reliable way to confirm an address is still with manual, visual confirmation. Any automated way can still be phished/hacked/changed, even in real time, and should not be relied upon.

Again, this is why bitcoin as an everyday transaction medium is still not ready for the hundreds of millions of inept, tech-challenged masses out there. Because most of those people WOULD absolutely fat-finger addresses and lose their bitcoin in a heartbeat.

[shahzadafzal]

WoooooW its been a long time

But finally seeing my fam once again

Me+LFC @Paris
Love it

Go go Liverpool

Wow nice should we guess who’s who?

and that’s very strange kinda face mask, it’s not KN95 I’m sure.. may be BTC100?

[ChartBuddy]

Explanation

[AnotherAlt]

WoooooW its been a long time

But finally seeing my fam once again

Me+LFC @Paris
Love it

Go go Liverpool

WoW!

The common thing is Both are Bitcoiner. Yeeeeeeee.
Ah, Not surprised?

Well, Another match is both's hands have some tattoos, Let me know if there are any Bitcoin tattoos. That would be great. right?

El dude with a red t-shirt?

[ChartBuddy]

Explanation

[AverageGlabella]

WoooooW its been a long time

But finally seeing my fam once again

Me+LFC @Paris
Love it

Go go Liverpool

Enjoy the game cant say I am supporting Liverpool but I hope you have a good night anyway hopefully we see a goal fest

[JayJuanGee]

How to put this delicately... if a 20% drop is "big" then perhaps the certainty wasn't very certain? I mean many here hold coins they didn't sell at $69k, which is not much different from having bought at that price, and that's like a 60% drop AKA just another Wednesday.

Presumably your investment horizon is longer than a couple of months so you should just forget about the price and stop checking it every day if that affects your mood.

My investment is for the long term but I can not help feel down when I see 10000s get knocked off my investment I think this is natural to have self doubt?

1) Sounds like you have a great wife.... hodl.

2) What was your timeframe? if your retirement timeframe was not a plan to retire 2022,2023,2024..... then bro it is likely NO SWEAT at all.

3) Remember the halvening cycles, check the halvening cycles  vs  the price chart


4) If at all possible, set a price alert , set and forget , see where things are at run up to and post the next halvening

My investment time was beyond 2030. I have not lost hope I think people might misunderstand when I say I have doubt I have doubt because when I purchased that Bitcoin 1st I was shaking this was not because I was worried but because it was a uncontrollable reaction my body had when I made the order. When I got it in my exchange wallet I prolly checked the address 100 times before sending I even sent multiple "test" amounts to not fuck up.  

my wife has been good to me she was not a fan of the idea at 1st and it took some convincing and now the price took a hit I was nervous to tell her because she does not look at it. I was expecting a meltdown but it was the opposite she reassured me by saying you were so confident before so I think we will be ok.

.
By the way.. in the past several months, have you continued to study into bitcoin, such as reading more or listening to podcasts?  Of course, we have more and more smart-people coming into the bitcoin space, and there are all kinds of smart people in bitcoin, if you have time to study into some of the better and smarter ones, and I cease to be amazed by some of the smartness of some of the folks coming into bitcoin...

Yesterday, I heard about a 2-hour interview on Swan Signal (podcast) with Greg Foss and Max Keiser..and they both seem to be very good at understanding various macro circumstances that affect the bullish case for bitcoin, and maybe you would like to listen to their discussion?

Here's a link:   https://overcast.fm/+YwHTgOmEU

At one point, I had considered providing a list of the better podcasts because it surely makes a difference to be listening (or following or reading) the smarter folks... there's misinformation and bullshit marketing and scams out there too.. and even this thread is not completely free from having some folks slipping in with not so great information.. yet of course, it would still be your responsibility to be trying to sort the wheat from chaff.

I took a break because I did not want to be monitoring the price every day so I have not been active here or googling or podcasts. I have changed my opinion now because I feel reassured when people are talking about why Bitcoin will eventually be ok and I see you guys here not worrying which helps me but I will try to continue to earn Bitcoin to to make me feel better when it is going down it will give me a chance to accumulate more to. 

I will give the podcast a listen and get back to you with my thoughts thanks.

I recognize that a lot of people proclaim that with bitcoin, you can set it and forget it - but I believe that setting and forgetting is way easier in the case that you either invest a relatively small amount from the start.. 1% to 5% of your total investment portfolio might be able to qualify as a "relatively small amount.."  or maybe if you set a relatively small amount of a DCA amount, then you may well be able to detach yourself, somewhat, emotionally from the fact that the investment could go to zero.

All the signs seems to be that you way over-invested.. and you did it in a kind of lump sum investment kind of a way.. .. so once you do that. and you recognize that you overinvested, it can be really difficult to suggest what to do... one thing is the shave off some of the value at various pointes as the price is going UP.. .. and sure of course, frequently you might well be able to overcome your feelings that you invested too much when the prices are up.. because at that point you are relieved that you did the right thing.

Another way could be to do some variation of what you indicated that you were planning on doing which is to just continue to invest small amounts on a regular basis and to continue to invest a certain amount of time ongoingly learning about your investment in order to maybe consider if your views are changed from your learning or maybe it could cause you to tweak your strategy which might even mean getting out if there is some kind of problem with what you had previously believed about bitcoin.   To the contrary, it seems to me that an overwhelming majority of people become way the fuck more bullish (and confident) about bitcoin if they actually spend more time  actually learning about bitcoin.. and I am not talking about learning about the distracting and frequently misleading shitcoin bullshit and presuming that you are indirectly learning about bitcoin, blah blah blah.

Surely, a few members who had responded to you had already stated that the buck stops with you.. and you are the one who has to ultimately be comfortable with what you had done and also whether there might be any tweaks to your strategy that you might need to make...   we could be telling you all kinds of wrong facts and giving you bad logic.. .. and in the end.. the buck stops with you and you are the one who is completely responsible for if you fucked up.. or failed/refused to invest in a way that sufficiently and adequately accounts for your own psychological and financial particulars... that includes considering your cashflow, other investments, view of bitcoin as compared with other investments, timeline, risk tolerance, time, skills and abilities to strategize, plan, research and learn along the way including tweaking strategies from time to time to consider trading, reallocating, use of leverage and/or financial instruments.

My investment is for the long term but I can not help feel down when I see 10000s get knocked off my investment I think this is natural to have self doubt?

Doubt in what? That you made the right decision to buy bitcoins? I'm sure going in you knew that 20% swings in Bitcoin price are very common so that volatility must have been factored in?

For sure in bitcoin we could get a 50% drop, and then another 50% drop and then another 50% drop which would put us at about a 87.5% drop in total... and still end up recovering way beyond where we started.. and even the earlier 87.5% drop might not have taken us lower than we had been 4 years previously.

Don't get me wrong, I'm not trying to belittle your concern. I'm just saying that checking how much you're down a few months into a long-term investment is counter-productive to the whole "long term" idea.

I used to chart my "wealth" (cash, stocks, house, retirement accounts, and then bitcoins too) in a spreadsheet on the 1st of every month but then I reached a point where even a 1% drop in the "market" seemed to negate my entire month's earnings, so I decided to do that only once a year. It been going only up since then. Magic.

I agree with your overall idea of zooming out, yet there should be ways to still be able to regularly monitor aspects of your investment, including that it might be 87% in the red and still NOT necessarily cause you to panic or even cause psychological problems if you had already prepared yourself for the potential of those kinds of drops.

Even for me, in late 2014 and even parts of 2015, BTC prices had reached close to 90% drops, it seems that some of my ongoing buying had ONLY gotten the value of my BTC to the maximum of 64% depreciated (meaning valued at 36% of the amount that I had put in).  I was somewhat bothered, and I continued to DCA.. but in essence I had invested most of my extra cash already, so my cashflow and injection amounts were not going to be as much during that time period (I was also having some other somewhat non-related cashflow issues too, at that time).

Of course there are a variety of personality (and circumstantial differences) between people, yet I have always found a decent amount of value in regularly monitoring various aspects of what I am doing and if there might be some things that I am going to be able to do.. (which also might include monthly reports but also even looking on shorter timelines, too.. and sure many times with bitcoin there will be value in zooming out, but if my investment timeline is not very long, my own investment data is not long enough to actually see very much of value - except maybe just ongoing downity)  but of course, if there might be periods in which I might not have more money to inject or anything that I feel that I can do until either my cashflow improves or maybe until the BTC price recovers a bit, then like you suggest,  I may well be in a better position to just focus on other things in life for a while until my situation might have changed or the price of BTC might have changed that would allow me to actually be able to do something other than what I might have already had set in place (if that might be a regular DCA amount or something like that). 

[eXPHorizon]

2:2 Real Madrid wins in Penalties.

[eXPHorizon]

Spoiler Alert Above

[JimboToronto]

I have become jaded to the supposed "journalism" we've seen in the mainstream for the past decade century.

ftfy

[AverageGlabella]

I recognize that a lot of people proclaim that with bitcoin, you can set it and forget it - but I believe that setting and forgetting is way easier in the case that you either invest a relatively small amount from the start.. 1% to 5% of your total investment portfolio might be able to qualify as a "relatively small amount.."  or maybe if you set a relatively small amount of a DCA amount, then you may well be able to detach yourself, somewhat, emotionally from the fact that the investment could go to zero.

All the signs seems to be that you way over-invested.. and you did it in a kind of lump sum investment kind of a way.. .. so once you do that. and you recognize that you overinvested, it can be really difficult to suggest what to do... one thing is the shave off some of the value at various pointes as the price is going UP.. .. and sure of course, frequently you might well be able to overcome your feelings that you invested too much when the prices are up.. because at that point you are relieved that you did the right thing.

Another way could be to do some variation of what you indicated that you were planning on doing which is to just continue to invest small amounts on a regular basis and to continue to invest a certain amount of time ongoingly learning about your investment in order to maybe consider if your views are changed from your learning or maybe it could cause you to tweak your strategy which might even mean getting out if there is some kind of problem with what you had previously believed about bitcoin.   To the contrary, it seems to me that an overwhelming majority of people become way the fuck more bullish (and confident) about bitcoin if they actually spend more time  actually learning about bitcoin.. and I am not talking about learning about the distracting and frequently misleading shitcoin bullshit and presuming that you are indirectly learning about bitcoin, blah blah blah.

Surely, a few members who had responded to you had already stated that the buck stops with you.. and you are the one who has to ultimately be comfortable with what you had done and also whether there might be any tweaks to your strategy that you might need to make...   we could be telling you all kinds of wrong facts and giving you bad logic.. .. and in the end.. the buck stops with you and you are the one who is completely responsible for if you fucked up.. or failed/refused to invest in a way that sufficiently and adequately accounts for your own psychological and financial particulars... that includes considering your cashflow, other investments, view of bitcoin as compared with other investments, timeline, risk tolerance, time, skills and abilities to strategize, plan, research and learn along the way including tweaking strategies from time to time to consider trading, reallocating, use of leverage and/or financial instruments.

-snip-

Even for me, in late 2014 and even parts of 2015, BTC prices had reached close to 90% drops, it seems that some of my ongoing buying had ONLY gotten the value of my BTC to the maximum of 64% depreciated (meaning valued at 36% of the amount that I had put in).  I was somewhat bothered, and I continued to DCA.. but in essence I had invested most of my extra cash already, so my cashflow and injection amounts were not going to be as much during that time period (I was also having some other somewhat non-related cashflow issues too, at that time).

Of course there are a variety of personality (and circumstantial differences) between people, yet I have always found a decent amount of value in regularly monitoring various aspects of what I am doing and if there might be some things that I am going to be able to do.. (which also might include monthly reports but also even looking on shorter timelines, too.. and sure many times with bitcoin there will be value in zooming out, but if my investment timeline is not very long, my own investment data is not long enough to actually see very much of value - except maybe just ongoing downity)  but of course, if there might be periods in which I might not have more money to inject or anything that I feel that I can do until either my cashflow improves or maybe until the BTC price recovers a bit, then like you suggest,  I may well be in a better position to just focus on other things in life for a while until my situation might have changed or the price of BTC might have changed that would allow me to actually be able to do something other than what I might have already had set in place (if that might be a regular DCA amount or something like that).  

I am glad to hear that other experienced people have gone through the same thing your drop was worse I think that proves how stupid I am. I'm not trying to worry it's just the natural reaction I have I know bitcoin will recover, I know there's to much potential to waste but its that voice in my head telling me you did wrong and then seeing the news and the price just cements that in my head. I was very confident when I bought this BTC it was definitely the most confident I have been in my life. I think this topic will help me when I need to be told I am being stupid just look at the replies to my 1st post  many people tell me I'm stupid and they have faith to the end. I have invested a lot of my wealth but that is still a small number when you look at other people in this topic and they are not worried so why should I?

[AverageGlabella]

Anyway fuck worrying lets watch some champions league and forget about everything for a moment.


@JayJuanGee I will listen to that podcast tonight thanks for giving it to me. I will let you know what I think tomorrow

[ChartBuddy]

Explanation