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

[ChartBuddy]

Explanation

[MrPiggles]

I spend 20% of my income partying and traveling for football games.

This is extremely wise

[cbeast]

I spend 20% of my income partying and traveling for football games.

This is extremely wise

The rest was wasted.

[tarmi]

Why do nerds/geeks have such an obsession with "lambos": is it some sort of compensatory reflex?

Because they think expensive cars will get them laid, but they don't know shit about expensive cars so they go with the only one they know about? Of course, they completely disregard the fact that the only women that will sleep with them simply because they have an expensive car is very likely to give them an STD, but that's neither here nor there, I suppose.

Actually, because lambo accepts BTC. I'd also settle for a porsche or ferrari, since BTC has already bought me a nice mercedes and a house. Geeks and nerds? I spend 20% of my income partying and traveling for football games.

all those stories about the noble bitcoin changing the world, but in the end it's all about bitchez and parties.

[ElectricMucus]

Good morning, So Bitcoin price is 4 times less than the ATH and people are cheering up  for $20 and calling the next bubble and reversal !!!!?  what a delusion, you have been doing this since $800
And oh, just look at the larger holders and early adopters shitting their pants @ twitter and in this forum, it is a hell of fun watching fear tearing the shit out of them.

Shitting? Fear? No, this has all happened before and will probably happen again..
Irritation, annoyance, yep... I wanted to buy a lambo before I turned 24 damn it.

Why do nerds/geeks have such an obsession with "lambos": is it some sort of compensatory reflex?

It is a way for some people of showing their wealth which greatly increase their chance of success with greedy .
*If you consider that most are greedy then it increase your chance with .

It is also a way of showing your social status and get respect from your peers (if they like Lambo too otherwise they'll think you're just an insecure small dick).

[nanobrain]

Thanks for all the replies guys....it was somewhat of a rhetorical question.  I do appreciate the concept of over-compensation  

mb300sd -- "20% of your income partying" -- wow, that's a wild statement right there.  Maybe on a real crazy w/e you blowout to 21.5?

Sorry, I'm just pulling your leg.  You should think yourself lucky you didn't get a fast car - you probably would have killed yourself.  Remember, the women who like "stuff and things" are generally not worth investing that most precious commodity in, time. 

[JayJuanGee]

Now, you seem to be talking your book... and once you buy back in, you will fix this kind of language, hopefully?  It's a bit charged to be throwing out the "nearly a ponzi" language.... b/c that is nearly total BS.

There are a lot of overhyped, overvalued companies that get investment, and go for round after round of seed money, and often time the only purpose of an investment in a business is the hope they'll raise more funds later on and thus make their stake more valuable.  If the only purpose is to increase income then I think that is nearly a ponzi, isn't it?

For one thing:  Bitcoin is NOT a company, and the infrastructure and the space of BTC is much too complex and too many people involved in order to be characterized as a ponzi scheme.  Even if you attempt to suggest that the earliest 100 or 1000 adopters are trying to get rich off the rest of us b/c they are just trying to cash out and there is NO value in BTC or the infrastructure.  Those kinds of characterizing would be totally misplaced.

Now maybe some of the companies within bitcoin could be ponzi schemes and some of the alt coins could be ponzi schemes b/c they are small and tightly controlled and sometimes scams and schemes....   but Bitcoin is not the various companies or the related companies or even some of the corrupt and greedy people within the space.

I just believe that you should know better than to engage in such loaded and inaccurate assertions regarding the nature of bitcoin, and you lose credibility when you employ such loaded and inaccurate language.

On the other hand, there are a lot of reasons that you could argue that you believe the price of BTC is going to continue to go down, but arguing ponzi scheme (or "near" ponzi scheme) is way out there and only triggers emotions based on incorrect facts/characterizations rather than making a more accurate assessment.

Anyhow you believe what you believe, and if you truly believe BTC is a ponzi scheme or a near ponzi scheme then you certainly will want to be careful about whether and/or how much to invest.

[JayJuanGee]

Good morning, So Bitcoin price is 4 times less than the ATH and people are cheering up  for $20 and calling the next bubble and reversal !!!!?  what a delusion, you have been doing this since $800


And oh, just look at the larger holders and early adopters shitting their pants @ twitter and in this forum, it is a hell of fun watching fear tearing the shit out of them.

Yes, you would have fun if you see other people suffering.......     

[Davyd05]

Now, you seem to be talking your book... and once you buy back in, you will fix this kind of language, hopefully?  It's a bit charged to be throwing out the "nearly a ponzi" language.... b/c that is nearly total BS.

There are a lot of overhyped, overvalued companies that get investment, and go for round after round of seed money, and often time the only purpose of an investment in a business is the hope they'll raise more funds later on and thus make their stake more valuable.  If the only purpose is to increase income then I think that is nearly a ponzi, isn't it?

For one thing:  Bitcoin is NOT a company, and the infrastructure and the space of BTC is much too complex and too many people involved in order to be characterized as a ponzi scheme.  Even if you attempt to suggest that the earliest 100 or 1000 adopters are trying to get rich off the rest of us b/c they are just trying to cash out and there is NO value in BTC or the infrastructure.  Those kinds of characterizing would be totally misplaced.

Now maybe some of the companies within bitcoin could be ponzi schemes and some of the alt coins could be ponzi schemes b/c they are small and tightly controlled and sometimes scams and schemes....   but Bitcoin is not the various companies or the related companies or even some of the corrupt and greedy people within the space.



I just believe that you should know better than to engage in such loaded and inaccurate assertions regarding the nature of bitcoin, and you lose credibility when you employ such loaded and inaccurate language.

On the other hand, there are a lot of reasons that you could argue that you believe the price of BTC is going to continue to go down, but arguing ponzi scheme (or "near" ponzi scheme) is way out there and only triggers emotions based on incorrect facts/characterizations rather than making a more accurate assessment.

Anyhow you believe what you believe, and if you truly believe BTC is a ponzi scheme or a near ponzi scheme then you certainly will want to be careful about whether and/or how much to invest.

Relax buddy

btw I wasn't calling btc a ponzi at all, I was referring to the venture capitalists and their stakes in zero revenue tech companies with high userbases.

I wanna see how low this dump can go, where the people sitting in Fiat jump in

[mb300sd]

Thanks for all the replies guys....it was somewhat of a rhetorical question.  I do appreciate the concept of over-compensation  

mb300sd -- "20% of your income partying" -- wow, that's a wild statement right there.  Maybe on a real crazy w/e you blowout to 21.5?

Sorry, I'm just pulling your leg.  You should think yourself lucky you didn't get a fast car - you probably would have killed yourself.  Remember, the women who like "stuff and things" are generally not worth investing that most precious commodity in, time. 

I'm still in college, so 20% of my income isn't really that much haha... NOT 20% of my bitcoins... The AMG is pretty damn fast, hit 175 a couple times, but half the frat guys have a Mercedes that looks the same, so not impressive.

[JayJuanGee]

btw I wasn't calling btc a ponzi at all, I was referring to the venture capitalists and their stakes in zero revenue tech companies with high userbases.

I already responded to your other post, but I doubt this really clarifies... b/c you are still throwing out a whole bunch of generalizations.  There are a lot of varieties, some of these guys have good intentions and some are scams.. buyer beware,no? 

[MrPiggles]

Now, you seem to be talking your book... and once you buy back in, you will fix this kind of language, hopefully?  It's a bit charged to be throwing out the "nearly a ponzi" language.... b/c that is nearly total BS.

There are a lot of overhyped, overvalued companies that get investment, and go for round after round of seed money, and often time the only purpose of an investment in a business is the hope they'll raise more funds later on and thus make their stake more valuable.  If the only purpose is to increase income then I think that is nearly a ponzi, isn't it?

For one thing:  Bitcoin is NOT a company, and the infrastructure and the space of BTC is much too complex and too many people involved in order to be characterized as a ponzi scheme.  Even if you attempt to suggest that the earliest 100 or 1000 adopters are trying to get rich off the rest of us b/c they are just trying to cash out and there is NO value in BTC or the infrastructure.  Those kinds of characterizing would be totally misplaced.

Now maybe some of the companies within bitcoin could be ponzi schemes and some of the alt coins could be ponzi schemes b/c they are small and tightly controlled and sometimes scams and schemes....   but Bitcoin is not the various companies or the related companies or even some of the corrupt and greedy people within the space.

I just believe that you should know better than to engage in such loaded and inaccurate assertions regarding the nature of bitcoin, and you lose credibility when you employ such loaded and inaccurate language.

On the other hand, there are a lot of reasons that you could argue that you believe the price of BTC is going to continue to go down, but arguing ponzi scheme (or "near" ponzi scheme) is way out there and only triggers emotions based on incorrect facts/characterizations rather than making a more accurate assessment.

Anyhow you believe what you believe, and if you truly believe BTC is a ponzi scheme or a near ponzi scheme then you certainly will want to be careful about whether and/or how much to invest.

Dude you totally missed my point i wasn't talking about bitcoin I was talking about tech startups with unmonetized user bases who go for round after round of seed money

[Hunyadi]

And oh, just look at the larger holders and early adopters shitting their pants @ twitter and in this forum, it is a hell of fun watching fear tearing the shit out of them.

Do you have links? I have not noticed this fear.

[MrPiggles]

[dakota neat]

Good news all around + No fresh money at the exchanges = Time for a large sell off

[Davyd05]

ta'ers does the 30 min huobi chart count as having an inverse h&s ?

[MrPiggles]

btw I wasn't calling btc a ponzi at all, I was referring to the venture capitalists and their stakes in zero revenue tech companies with high userbases.

I already responded to your other post, but I doubt this really clarifies... b/c you are still throwing out a whole bunch of generalizations.  There are a lot of varieties, some of these guys have good intentions and some are scams.. buyer beware,no? 

It does clarify because you responded with the assumption I was talking about bitcoin, which i wasn't.

For many the process isn't about building a profitable company. It's literally build a userbase, get some VC money, hire people, get a nice office, try and get more users for the next round of VC investment, the whole aim becomes VC money rather than ever having an income outside of that.

That's pretty ponzi-ish

[JayJuanGee]

Relax buddy

Can you be more specific?

[MrPiggles]

Relax buddy

Can you be more specific?

He was referring to your long post about how btc isn't a ponzi and how i was generalising when I also said right after that that I was NOT calling btc a ponzi. lol

[Davyd05]

Relax buddy

Can you be more specific?

You misundertood Piggles, I quoted where he clearly said he wasn't discussing bitcoin but the insane way vc investors are valuing high user apps or platforms ie whatsapp instagram etc