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

[sirazimuth]

They store your private keys too so you don't have to worry about losing them....

You're doing it wrong. Losing the keys so that no one can ever move the coins is by definition the safest method to store them.

lol
<s merit> (sorry I'm out of real ones, besides you got plenty anyway...)
......



Nocoiner... hahaha, bitcoin crashed!
Me... zoom out
Nocoiner...  hahaha, bitcoin crashed!
Me ... zoom out some more
Nocoiner...hahaha, bitcoin crashed!
Me ...zoom out even  more
Nocoiner... hahaha bitcoin crashed!
Me ... zoom out like way way more!
Nocoiner  hahaha bitcoin crashed!
Me...zoom out like..... oh bollocks..... yeah, bitcoin crashed...

[vapourminer]

.....

Don't worry it's all safe and sound, secured on Mintpal.com

Good on you m8.
I keep all my bitcoins safe and sound at at westorebitcoins.com.
They store your private keys too so you don't have to worry about losing them....

amateurs

i store mine at mtgox, so secure even i cant get them.

CHECKMATE mofos bwahahaha !!


oh wait

[ChartBuddy]

Explanation

[sirazimuth]

gigantic snip...

oh ffs nully, cool your keyboard tapping jets and go get a hummerjob or something....

[death_wish]

Yeah this sucks guys..

If this is an attack, and their best method of attack is the price/market, they are pretty much admitting defeat..

I don't know about that, there needs to be some kind of price benefit otherwise there is no hedge against inflation, QE, etc. By attacking price they are attacking the most obvious narative. The first world will only understand the other naratives when they are enslaved and then it's too late.

Money is a weapon of economic warfare—nay, monies are weapons.  The banks are the masters of those weapons.

Bitcoin is a monetary weapon dangerous to them.  They seek to neutralize it with their usual weapons.


Read Clausewitz.  What is Bitcoin’s strategic centre of gravity?  Answer:  The dollarized Bitcoin market.  Where the enemies of Bitcoin own the dollar.

There was a time when some could accuse me of being a starry-eyed idealist for deprecating mere “investors”, for my wish that Bitcoin would grow more slowly to develop a firmer foundation in mass-adoption as money, in my contempt for the moon-eyed greedy view that we need to bring in a bunch of institutional money to pump up the market, and so forth.

Well, look at what happens when I am not heeded.

I told you so.

[HI-TEC99]

.....

Don't worry it's all safe and sound, secured on Mintpal.com

Good on you m8.
I keep all my bitcoins safe and sound at at westorebitcoins.com.
They store your private keys too so you don't have to worry about losing them....

amateurs

i store mine at mtgox, so secure even i cant get them.

CHECKMATE mofos bwahahaha !!


oh wait

Did you get that idea from the Bitcoinica exchange which stored its coins on gox for "security"?

I'm the founder of Bitcoinica....

Security

We don't operate a Bitcoin wallet. All our funds are stored in Mt. Gox ...

[sirazimuth]

....


Did you get that idea from the Bitcoinica exchange which stored its coins on gox for "security"?

I'm the founder of Bitcoinica....

Security

We don't operate a Bitcoin wallet. All our funds are stored in Mt. Gox ...

Oh man...that's rich  

[sirazimuth]

Look on the bright side wobros...
at some point in time in distant future we can celebrate page parity again!  Perhaps...perhaps??

[Richy_T]

Time to drink.

[suchmoon]

Look on the bright side wobros...
at some point in time in distant future we can celebrate page parity again!  Perhaps...perhaps??

Bribe ChartBuddy or JJG to delete their posts?

[sirazimuth]

Time to drink.

I never drink and post...except when I do...

[sirazimuth]

Look on the bright side wobros...
at some point in time in distant future we can celebrate page parity again!  Perhaps...perhaps??

Bribe ChartBuddy or JJG to delete their posts?

I would, but I doubt they accept bitcoin anymore...

[somac.]

Time to drink.

Going to need a few extra bottles, that bounce was not a bounce  

[sirazimuth]

Time to drink.

Going to need a few extra bottles, that bounce was not a bounce  

And dead cats don't bounce. No idea how that term came about...

[strawbs]

Good night guys and bots.

nice move towards improvements in inclusivity, for sure.  

How do we feel about this then?

BlockFi just gathered up $50 million to lend to bitcoin and ethereum holders who don’t want to cash out (yet)

Currently, BlockFi allows investors to take out a loan as high as $10 million using either bitcoin or ethereum as collateral.

Just like lending on Bitfinex, it's all about how much risk you want to take that the platform itself doesn't go under.

You can make somewhere around 1% or so per year on your BTC lending to shorts. But if Bitfinex goes the way of many of the exchanges, then you lose all of your money.

I was listening to an episode of "What Bitcoin Did" while out running the other day and noted that BlockFi is one of its sponsors (they offer fiat loans to borrowers with btc as collateral and also interest-bearing bitcoin accounts). I thought there had been some discussion on these hallowed pages about BlockFi in the past, or perhaps it was something similar, but a quick search came up with only the above discussion.  Which led me to have a few questions...

1. keeping in mind the obvious mantra of 'not your keys, not your coins' and considering the risk of such DeFi groups going under, I was wondering what WOers think of putting a small percentage of your coins into such an interest bearing account?

2. does Elwar think BlockFi or similar entities are now more reliable now that three years have passed?

3. wtf happened to Rosewater Foundation?

I'm far from convinced but it would be nice to get my coins working for me (in terms of increasing their number) instead of just sitting there looking good (and increasing in fiat terms but not in number). But the thought of not having my coins' keys sends me into a cold sweat....

Don't worry about it Strawbs.

Bitcoin is designed to pump forever, so you do not need to get lured into interest bearing nonsense.;.. and the vast majority of them both pay crap and they could well end up tricking you out of your coins because you failed to understand the terms of whatever bullshit contract to which you agreed.


Sure, if you just put a very small amount of your coins into such an instrument for funzies and to learn more, then probably no problem with that, but don't fool yourself into the desperate talking point that you need your bitcoin to earn interest because their appreciation is already built in...

Fuck they have appreciated way more than the 6% per year that I anticipated in 2013..  I should not have to go back and calculate, but I will if you believe that more discussion is needed... because it seems to me that you are actually seriously considering such nonsense and hopefully you are neither that desperate or you cannot figure out ways to engage in your own ongoing BTC accumulation if you feel you need more BTC beyond the overall ongoing BTC price appreciation that has historically occurred and likely to continue to happen to sufficient levels in order to be able to count on at least 12% per year (if not more) especially if you zoom out.. and none of those services are going to pay you 12% per year..

so they can fuck off.. except if you just are playing with them for funzies and you are o.k. with losing those coins.  Note that personally, I am surely not against participating in various aspects of the Bitcoin ecosystem which is part of my rationale for participating in several exchanges for the 7.5 years that I have in bitcoin.. and I have close to 10% of my stash on various exchanges and playing around with various third parties.. but consider the risks of losing those coins too.. and my coins in cold storage are way more than I need for my richie status anyhow  (referring to the near 0.21BTC stash that I may be getting close to having)..

....
3. wtf happened to Rosewater Foundation?
.....

Always wondered that myself actually. I miss the mayor's colorful posts.
All my favorite wo bros seem to have gone bye bye.
Time marches on.
Damn I'm getting old.....

https://www.youtube.com/watch?v=Ciq0wlhwUVw

The puggie nerdy looking singer in that video kind of looks like what I would have imagined RF/Mayor to look like, for whatever that's worth?

In light of current happenings, I’m glad I wasn’t tempted by BlockFi’s promises a while ago. Well, I may have been a little tempted but thankfully didn’t go ahead. Shout out to JJG for throwing out some common sense at the time.

[death_wish]

Time to drink.

Going to need a few extra bottles, that bounce was not a bounce  

Dead cat...

Remember when a few days ago, you corrected my wild Hopium over a bounce around $22k–$23k?  The margin account and the desperation with debt had me not seeing very clearly.

Here’s to planning how to recover from this mess.

* death_wish pours Cognac, toasts somac. and Richy_T.

[ChartBuddy]

Explanation

[death_wish]

"they" might be going for 13600$

It seems if we reach down there, Celsius' holdings get liquidated and 24k BTC get thrown on the market.

If that happens we might just get the Vegeta memes ready again..

https://www.reddit.com/r/CelsiusNetwork/comments/vdxnq2/celsius_liquidation_price_is_now_13601/
disclaimer:
just stuff that I found... verify yourself pls

Seems right to me, either that or they are actually trying to destroy bitcoin here.

I wonder if my partner buysolar read that and told me he thought 13k was bottom.

Yes I'm panicking. Not going to mindrust though.

Thanks for the candour, but please don’t panic.  Bitcoin needs people who are both idealistic, and shrewd about the gritty realities of the world.  It is a rare combination.

Our problem now is that the economic warfare is a means of propaganda warfare—which in turn supports economic warfare, as a feedback loop.

Everything needs a narrative nowadays.  The U.S. Dollar is a house of cards built of interlocking narratives.  People’s trust in banks is objectively stupid—but it is founded on a narrative.

Economically, the Bitcoin narrative is dead.  It is already.^*  That does not mean that Bitcoin is dead (LOL), but only that savvier Bitcoiners need to get out in front of foreseeable developments—lest they be perceived as deluding themselves with a Reality Distortion Field.

Some parts of the Bitcoin economic narrative are best discarded.  (I never believed in PlanB; and I always took four-year cycle theories with a grain of salt, beyond the obvious supply-side effect of the Halvings.)  Others are sound in the abstract, but need concrete discussions adjusted to fit reality.  For only one example, Bitcoin as a store of wealth is fundamentally sound—if and only if Bitcoin is treated as money, and we burn to the ground every foolish notion that treats Bitcoin as “like a stock”.  I have been saying for years that we need to get decoupled from stocks, and coupled to PMs ASAP.  (“I told you so.”)  That is largely a matter of narratives, and of making the narratives fit reality rather than living in fantasyland:  Bitcoin’s nature is not to be a stock.  Treating a fundamentally non-stock-like thing as “like a stock” must bring disastrous results, both for individual investors and for the whole Bitcoin market!

People obviously are not generally using Bitcoin as a hedge against inflation.  Because they see dollars as “money”, and Bitcoin as a stock-like thing that you trade for money.  Anyone who wants to brand me overly theoretical or idealistic:  I am the realistic one!  Your ideas have been demolished by reality.^*

If we apply a sort of Gresham’s Law to narratives about Bitcoin, I am confident that Bitcoin will recover on a firmer, more solid foundation so that it can rise to the heavens as it should.  Accordingly, this is only a setback.  I still look forward to my million-dollar bitcoins.

^*  “No one who has held for at least 4 years has ever been at loss.”  200 WMA as a reliable bottom (I never believed in the PlanB-style voodoo, but I recognized it as a Schelling point).  Never falling below the previous cycle top.  As I write this, we are nominally >3% below previous cycle top and >17% below 200 WMA—and falling again, after what looks to me like a dead-cat bounce.  In real value terms, the dollar’s inflation has so horribly distorted the Bitcoin market that I think we have dipped as low as half the December 2017 top in December 2017 dollars—maybe lower.  These are already accomplished facts.  Nothing could worse kill a recovery than retreating into a Reality Distortion Field.

[sirazimuth]

The next 24 hours are critical..
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No, not for bitcoin. idgaf about that.
For me ...I'm going to the amusement park with my daughter and I hate roller coasters.
No worries though, she hates them too, but we can handle that log flume thing where you get soaked and buy the pic
they snap of you screaming and looking terrified.
So far, I got 2 of them of us from 2 different years.
Number 3 coming up.
That's priceless.

[HI-TEC99]

The next 24 hours are critical..
.....



No, not for bitcoin. idgaf about that.
For me ...I'm going to the amusement park with my daughter and I hate roller coasters.
No worries though, she hates them too, but we can handle that log flume thing where you get soaked and buy the pic
they snap of you screaming and looking terrified.
I got 2 of them so far of us from 2 different years.
Number 3 coming up.
That's priceless.

Don't drink anything fizzy, like cola or beer. I made that mistake and threw up once.