Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 12253. (Read 26608399 times)

rebounce time

yay a 100 dollar bounce after a 700 dollar dump

 

Weeeeeeeee!!! Weeeeeee!!!!!! Weeeeeeeeeeeeeee!!!

^The most clueless and 100% false statement of the day.  The miner's cost of production is ALWAYS your problem if you're holding these things.  Hypothetically, let's say the price of a bitcoin is $10,000 per coin and you buy there.  If the cost of production drops down to $1000, why would anyone buy your $10,000 coins if they can just mine them for $1k?  They wouldn't.

This is why the price has continuously dropped from $20k to here.  Cost of production was around $3k.  Does that mean this is the bottom?  No.  Miners can still go bankrupt or throw in the towel because it's not worth it and send cost of production even lower.  Then you're back to square one of holding $3k coins with nobody to buy them because they can just mine them from $1k or whatever.  Claiming mining and cost of production doesn't matter should get you de-merited down to 1 star poster.

debart

BinaryReign, ivomm - thanks for that. Good to read confidence from fellow bulls/HODLERS.

Bob - Sent you 2 Merit’s to start you on your way.

Edit - Short squeeze in play

What is the source of this?

Feigns surprise

(look at the chart)

Yeah, but this is just you musing...  what do your 1 or 2 sources say?

Likely quoting yourself...

 


 


 

A nice thread by Edward Morra:

https://twitter.com/edwardmorra_btc/status/1071112661704851456

I am a human, so you never know.  I could become either incapacitated or dead... .

Surely, I prefer to live, and enjoy BTC proceeds - and surely it remains very difficult to justify any BTC spending at these levels, even if my coins are still well over 4x in profits - but after nearly a 84% correction, even I am a bit despondent regarding this whole situation - even while I feel much better (but still similar) than I did in late 2014/early 2015 when the BTC price was first dipping into the sub $200 prices, and my portfolio had dipped to about its so far maximum lowest negativity, which was a bit more than 65% in the red.

I had some other non-bitcoin related financial cash flow issues (difficulties) in early 2015 that exacerbated the negative price pressure that BTC was putting on me (with my funds that I invested and was willing to lose everything BTC related), that caused me some inabilities to really take advantage of low BTC prices in early 2015, and I was only able to marginally correct those in mid to late 2015 in order to buy more BTC and to bring down my BTC average.  One bitter-sweet things about those BTC in 2015 was that each one (or more accurately fraction of one) that I bought in 2015, brought down my BTC costs per BTC a lot for every dollar value that I put in.

A couple items of note.  I recall not really being able to buy under $200 for a variety of reason, including my own fear of my cash flow, but I bought $100 worth at $182... hahahahahha.. and think about that, nearly .55BTC for $100, but still scary at that time to acquire with such uncertainties in the air.

Second, through much of 2015, I had one "friend" who was generally aware of my cashflow issues and generally aware that I had a decent amount of BTC that I was not selling but just buying whenever I came across an additional $10 or so that I could throw in once a week or every few days if I came across some extra money.  During that time, that friend was nearly constantly on my back about how "dumb" I was and really attempting to be sincere to inform me that BTC prices would never return above $300, so I was wasting my "extra money" and efforts in the BTC direction.  I would tell this "friend" that it was annoying for me to receive "lecturing" when such "friend" did not have much if any clue beyond mainstream talking points in regards to advising me about the supposed futility of investing into BTC.

Well, it has to stop somewhere. One year ago Jihan Wu started a similar campain (flippening they called it). Aided by Rojer Ver and Craig Wright they dumped hundreds of thousands bitcoins and bought bcash driving it up to 3.5k$ on most exchanges and 9.5K$ on Coinbase. The documentation of the failed IPO shows that only Bitmain bought around 2mil bcash! Now, Wu gets what he deserved! Although he has 2mil SV now, so he can dump it to get some money to save his business from bankruptcy. Now, CW thinks he is a genious to sell his bitcoins and buy his shit. In 1 year SV will be less than 10$, while bitcoin will recover. Not only the manipulators are out of ammo, but most of the whales dumped in fear their bitcoins. What the market needs now is a nice recovery to 6K and then slowly building up to 20K and beyond. It may take some months or a couple of years, but it will happen!

You know what I did? I spetn just enough btc last year during, and just after the rally to 19k, that the rest of my btc stash is pure profits. My original USD amount that I invested, I’ve taken off the table.

This isn’t my first time going through the cycle though, so I learned the hard way, and I didn’t spedn more than maybe 5% of my bitcoin stash. Since I am a HODLer through and through, it’s really hard for me to let go of even a couple hundred thousand satoshis. I am only able to now because I experienced being all in (100% invested) bitcoin during a previous bear market, but thanks to this thread and the people on it. I learned a thing or two, like:

HODL (or buy) when everyone else is panic selling. (odds are you’ll end up with less bitcoin if you’re not super lucky and/or a damn good trader)

Later you can smile, and take a little tiny bit off the table when everyone is hyped to entertain yourself during the next bear season.

 

This year has really sucked. Coins I sold in 2018 to cover operating expenses have an average sale price of $6400, which is a pittance compared to the 14-18k runups last year. And buying those coins back now is only going to be at 3200, barely a 100% profit.

Blahrgh. Still, it is nice of Jihan and Wu and the other flunkies to be giving out coinz. And it gives me a new floor when prices go back to the 6-7k range....

Consensys layoffs.  

https://www.coindesk.com/consensys-confirms-layoffs-projecting-13-of-staff-at-startups-to-be-cut/

Starting to feel a bit capitulationish.  

Still might need Consensys to be broken up entirely but it’s a start.

There was so much Bitfinex fraud involved in raising the price of Bitcoin, I will not be surprised however low it finally implodes to.  Here's one of my posts from a long time ago when it was around $1000:

Shh... no we are... we are.

But he's sleeping there, can't you see?  Don't wake him.

Because the herd alphas are beginning to realize it's fundamentally a bad design and it's goals will be reached on layer 2 networks archored to Bitcoin layer 1.

Most of the rest won't realize what is happening until it's too late.

The order books are extremely thick on the buy side. Big balls needed to short from here.