Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 10183. (Read 26732529 times)

HM, what the fuck is going on?
Are we going to hit $50,000 - $100,000 BEFORE the halvening?

It’s all about having a nice fiat income so you can live nicely. The money we make from bitcoin can buy the real stuff, big house, holiday home etc.

I need a % of my bitcoin profits to work for me though - i.e. bring money in. Otherwise no matter how much you have you’re just spending bitcoin to live & I don’t want to do that.

I’ll sell about 6BTC at $25,000.
I’ll sell around 50% of my proper stash at $100,000 & invest that properly to make money.
I will then be in a position I never dreamed of until inheritance which will be a long time hopefully.

I owe bitcoin so much. It’s going to make so many of our dreams come true.

https://blockchainwhispers.com/bitmex-position-calculator/

 

No news.  Only pump. 

Thanks. I became hero just before the change. I post much less now, so no chance to get merit.

I have basically the same idea as LFC_Bitcoin, except I'm guessing he has more coins than me.

Looks like a dumpey dump is in the works. Drat.

Edit: Whoops, NM. Back at 13250.

Buy back in now on this dip?
Sell tomorrow tonight at 17k !!1

Can you speak more on why Bitcoin is non-fungible? I understand it to be fungible, i.e., my 1BTC is equivalent to your 1BTC and therefore interchangeable for either of us to spend accordingly.

I'm not too worried about the risk in my country, the worst that can happen is to lose the money, and I can live without it. I'm not interested in living in fear.

It's easy to treat lightly my comment about the last bullrun, but when the price hits a low, then a new low, and that lasts for months, it's very depressing. Last time I had only kept enough cash to pay back all my investments, so that I'm now neutral, but for the next time, I definitely want to have cash in hand.

Don't be, I think I'd rather be wrong.  It was only 0.08BTC.  Whoooohoooooo!

This made me laugh. Good on ya. HODL   BTW congrats on becoming hero!

Bitcoin dominance touching 63%.


Sounds great. Good luck with your plans mate!

Merited for making me laugh. I'm borrowing the jbreher rule.

Well have fun paying massive tax, being put on on some sort of list, and also get some good lawyers. Biggest reason to hold is that even if your bitcoins are from licit origin, it's a gamble how the government will deal about it.

Also lol at this is the last bullrun.

I want to buy a 2 bedroom apartment in X city centre outright for rental so yeah, I’m going to.
I have plenty of coin for the real business at $100,000

I’m trying to make sure I never have to worry about income again.
I have one apartment that I rent out, I want another one.

The idea is to get a fairly big monthly fiat income so I don’t have to do anything ever again & I can enjoy my real stash.

I bought back coins this morning (at a higher price than I had sold...) and now the magic number I was thinking about might happen today as things are going.

And I have revised this number once, by computing how much income tax I would have to pay to be good with the taxman, that's about 35% tax, so I added that to the number.

FOMO I can understand, but it's also too many people with lots of money they don't know where else to invest in. I don't know such people, I'm almost the only person I know that owns stocks for example.

So I just woke up, glanced at the price. Oh, it's still at xx400... wait... didn't that digit used to be a 2 instead of a 3...?

Talk about a power nap. Made a years working income while sleeping just now.

Still wanna sell at 25k ?
You know that's next week, right ?

I think there is a good chance we get a new ATH in the following weeks. Most of us expected it sometime after the halving, but things developed unexpectedly if favour of a much earlier ATH breach. I feel sorry for bears trolling about a correction at 4K, then 5k, then 6K,.... and now at 13K. But it didn't happen! These shorters are just comparing charts from previous years and trying to make predictions. But as their posts show, they have little or no knowledge of the current market situation.  The fact is that there are so many circumstances that are different compared to 2017 and all are in favour of Bitcoin. I'll try to explain to those who didn't follow closely the market in 2017:

1. Why in 2017 there were so many 40%-ish corrections, and in the last 6 months we had none?

Answer: In Jan 2017, when the price was heading to beat the ATH at $1140-ish, a sudden news appeared on the website of PBOC (people bank of China). It threatened the major China's exchanges with a ban if they don't meet the requirements. This lead to a sudden 40% crash. Since back then 95% of all Bitcoin trades were made in China's exchanges, the panic was huge. Not only that, but  similar news appeared multiple times in Jan, Feb and in Sept. 2017. There was the first ETF denial - another crash. Also, in June there was a decision for a fork, which stalled the market for the Summer. Then in November another more dangereous fork was looming, but thankfully it was cancelled. Then Bcashers started the attack of 'flippening' by selling over 100K BTC in a few days and buying over 2mil bcash. Of course, none of these news matter in 2019.

2. Was the price 20K too high and because of that there was a  80%-ish crash for a year?

Answer. Each time the last ATH is surpassed, traders feel fear whether the price is not too high. Since in 2017 the raise from 700$ to 20K was too big, this fear prevailed. The whole 2018 traders were afraid how low Bitcoin can crash and the buys were pretty low compared to the sells. Does this mean that the price was not sustainable if we exclude the fear? The answer is no, since the price managed to increase with so many bad news and corrections in 2017!

3. When we reach 20K will be there a similar crash?

Answer. There might be some 'bigger'correction because of the fear of repeating the history. But it won't last for a year and 3 months for sure, because of the next halving. If it happens, it will be for several weeks/months until the ATH is finally breached. The worst possible scenario is to have a day with a 40% crash from the top, and by the end of the day 20% to be recovered. Then slowly for several weeks the remaining 20% will be recovered. Or we can just blaze through 20K like a knife in butter, who knows!

And finally, two more observations:

4. Altcoins boomed also at the end of 2017. This was a huge loss of cash, that might have been used for buying bitcoins.

5. Compared to 2017, some of the volume of Bitfinex is now redirected towards  Bitstamp, Kraken and Coinbase.  This makes it more difficult for the price to crash. At the same time, the overall volume of all major exchanges remains half of what was in 2017 (Bitfinex was a beast then), according to https://data.bitcoinity.org/markets/volume/2y?c=e&t=b (not working ATM, and even if we include Binance, which wasn't a thing in 2017). This is because hodlers bring more coins after multiple ATH's and it becomes more difficult for the market to absorb the new coins. While now, hodlers know that 20K will be reached and breached and don't bring many new coins on the exchanges. So traders have fewer and fewer coins to buy. At the same time, tens and hundreds of millions new comers enter exchanges. Their fiat potential is much bigger than the newly mined coins, considering that even in 2017 their potential was most probably enough to reach 40-50K.

P.s. As I was writing this post, the price shooted from 12800 to over 13400!!! Way to go, Bitcoin! Good job!

Second day of bitcoin 2019. Insights from Edward Snowden.



"Privacy is not about having something to hide. Privacy is about having something to protect."

(Paraphrased): the community is focused on creating the next 'First National' [Bank -ed]. We need to be focused on creating the first Post-National Bank'

"The lesson that Satoshi teaches us is that opsec works."

Paraphrasing again: I won't say whether I hold any bitcoin or monero or any other cryptocurrency, but I will say this. The service used to transfer the trove of documents to the news agencies that broke the story were paid for with bitcoin.

Sanding ovation.

Intermission music: Uprising. Muse. Fitting.

Actually quite erudite and insightful. Sorry to reduce many great nuanced points to a handful of bon mots.