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

[grappa_barricata]

I don't see how one can make money with a pure pump-and-dump strategy (buying to increase the price, then selling at the higher price).  Sounds like those old perpetual-motion machines where falling weights are supposed to pull other weights up.  A successful pump-and-dump must include substantial misleading marketing as well.

You must be more subtle when trying to understand psy-ops. For example, consider if most of the book is filled with the pump-n-dumper offers.
Also, marketing is not strictly required. It is a bonus. It can be used to optimize the process, but the process doesn't require marketing per se.

[fonsie]

and the attractiveness of BTC as an investment cannot be growing

The cheaper it gets, the more attractive it looks to invest in. You don't wanna go investing at the top.
Didn't they teach you that in "Academics School".

[JorgeStolfi]

The cheaper it gets, the more attractive it looks to invest in. You don't wanna go investing at the top.

Well, I always understood that, in the basic rule "buy low, sell high", the word "low" means "lower than TOMORROW", not "lower than YESTERDAY".   

[Erdogan]

and the attractiveness of BTC as an investment cannot be growing

I made a pretty solid case that if BTC does not go below previous ATH levels, which most people don't expect it to do, that BTC has already entered savings account level of interest rates (5%ish per year) in a bad case scenario where the price only remains stagnant but BTC keeps on surviving:

https://bitcointalk.org/index.php?topic=837260.msg9353457#msg9353457

Wtf? There is only one ATH, and we will almost always be below it.

[r0ach]

Academic interest in bitcoin only. Not owner, not trader, very skeptical of its longterm success.

Your signature above.  After fiat collapses, what do you expect people to be using?  Gold?  Barter with seashells?  Obviously gold will be around, and all Bitcoin has to do is survive until that moment of fiat implosion happens to catch much of the same incoming cash flow gold receives.

[NotLambchop]

Academic interest in bitcoin only. Not owner, not trader, very skeptical of its longterm success.

Your signature above.  After fiat collapses, what do you expect people to be using? ...

After gravity collapses, what do you expect people to be using to stay on the ground?

[goldsun]

So how will we do on Monday? Any thoughts?

Anyone buying now or do everyone wait for even lower prices?

BTW, its kind of annoying with pics in the thread. And I don't think I only speak for myself when I say this.

[grappa_barricata]

After gravity collapses, what do you expect people to be using to stay on the ground?

Are you thinking what i'm thinking?

tip: plug, tail

[JorgeStolfi]

Venture capital doesn't benefit directly from increasing prises, but they also don't go investing in something they see dissapearing into oblivion in a years time.

Yes, those venture capitalists surely expected to make profit from their investment.  They may have made a bad decision, betting that the price would recover and attract more customers to their businesses.  However, even if the price keeps falling at the present rate, they can still have a profit.

SMBIT, for example, charges fees whether people stay or leave.  They buy BTC with money from customers (those who buy SMBIT shares), not from investors (those VCs who have equity in the company that manages SMBIT).  If the BTC price keeps dropping, the SMBIT shares will drop too, but only customers will lose their money; the managers and their VC partners will still collect fees.  By my estimates, they have already collected a few million dollars in fees, with very little expense.  Even if the price drops to zero over a couple of years, they may still make more than they invested.

Plus, the managers sold an initial "endowment" of 18'000 old coins to their customers in September for 120$ each, and that adds to their profit too.  Indeed, starting a bitcoin fund (or buying equity in a fund management company, paying in BTC; like Fortress did earlier this year with Pantera) is a good way to sell a large amount of old cheap coins at the current market price, with little slippage; while keeping those old coins out of the open market for six months at least, together with any additional coins that the fund then buys from the open market.

[Micky25]

After gravity collapses, what do you expect people to be using to stay on the ground?

Are you thinking what i'm thinking?

tip: plug, tail

a buttplug? Scary..

[fonsie]

Venture capital doesn't benefit directly from increasing prises, but they also don't go investing in something they see dissapearing into oblivion in a years time.

Yes, those venture capitalists surely expected to make profit from their investment.  They may have made a bad decision, betting that the price would recover and attract more customers to their businesses.  However, even if the price keeps falling at the present rate, they can still have a profit.

SMBIT, for example, charges fees whether people stay or leave.  They buy BTC with money from customers (those who buy SMBIT shares), not from investors (those VCs who have equity in the company that manages SMBIT).  If the BTC price keeps dropping, the SMBIT shares will drop too, but only customers will lose their money; the managers and their VC partners will still collect fees.  By my estimates, they have already collected a few million dollars in fees, with very little expense.  Even if the price drops to zero over a couple of years, they may still make more than they invested.

Plus, the managers sold an initial "endowment" of 18'000 old coins to their customers in September for 120$ each, and that adds to their profit too.  Indeed, starting a bitcoin fund (or buying equity in a fund management company, paying in BTC; like Fortress did earlier this year with Pantera) is a good way to sell a large amount of old cheap coins at the current market price, with little slippage; while keeping those old coins out of the open market for six months at least, together with any additional coins that the fund then buys from the open market.

Don't you get tired of all that yapping?

[grappa_barricata]

a buttplug? Scary..

LOL, at first i thought it was a very good photoshop, but no. Holy shit, nope, it's real!

[JorgeStolfi]

You probably do not want to know that I guessed "330$ by Halloween" on Adam's  poll, right after it was posted. 

(OK, OK, "even a broken clock"...)

[NotLambchop]

[Tzupy]

Adam, time to change the poll (Halloween is over anyway). I voted 360$ and it turns out I wasn't bearish enough.

[touhonoob]

IG Launched Flexible Bitcoin Trading
http://www.ig.com/au/bitcoin-btc

[ChartBuddy]

Explanation

[grappa_barricata]

There is a time to buy, a time to sell, a time to scalp and a time to stay the fuck out of the market. See you monday, gents.

[Cheeseonastick]

I can't wait to watch the despair once we go under 300 again. Silly bulls should have cut their losses a long time ago. If you have bitcoin, what are you waiting for? When are you going to sell? 290? 250? 150? 25? 10?? 5???

.50??

The longer you wait the more money you will lose. Some people understood this a long time ago.

Bitcoin is done for. The experiment has failed. You should have listened to all those people who warned against buying bitcoin. Professor bitcorn was right all along.

Sub 300 here we come!

[touhonoob]

https://i.imgur.com/lRpkxty.jpg