Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 13209. (Read 26610076 times)

You know something has gone to shit when they IPO it. 

Hey... I have no problem seeing burned shorts, but I really don't know what they mean because there could be a whole hell-of-a lot of shorts burning all the way up to $10k.

It seems to me that we gotta get above $10k anyhow before we get too confident that the bottom(s) (however many there have been so far) are "in."  

Part of my thinking remains that unless we get above $10k and stay there for a while, we still remain in close striking distance of our current local bottom(s)(again however many there are), and we cannot really rest with comfort while BTC prices are in such close bottom(s) proximity.

By the way, maybe I am wrong about $10k and maybe the safe price point is at a different amount?    I am just using that $10k as an approximate tentative place, at the moment, in my current thinking.

Umm...recognizing a double bottom is quite fruitful on this thread.

Much better thing to see than burned shorts.

Perhaps it is a matter of framing, because I do believe that we should be considering what is happening in the overall correction that started after the mid-December 2017 peak. 

I am not saying anything new, but the bottom of the first price correction was in early February, and broke $6k, but only for a short period - perhaps hours.  Thereafter, we have had at least 3 additional attempts to break below the $6k range - perhaps our current attempt (floating in the $6,300s to $6,600 area) is not over yet.

 Anyhow, I don't really consider it fruitful to attempt to parse out a shorter period of time after February 2018 - because in essence what seems to be happening with the so far 4 attempts to break below $6k is to really verify if the bottom is in and to verify whether any more folks are willing to be shooken from their coins.  The froth in the alt coin space can exacerbate such bitcoin shakening attempts, but in the end, bitcoin does remain it's own creature too, and surely the leader of coins (even though some dumb money does seem to get confused by whether bitcoin has fallen from its ongoing lead in terms of ongoing building network effects).

In sum, you can attempt to get me to recognize a two bottom situation, and I am going to put my fingers in my ears and cover my eyes to such claims, especially when it continues to seem to me that we gotta attempt to consider the broader package that involves the early February bottom, too.

Speak to da hand, speak to da hand.



hahaha   

Can you imagine the private key ownership of these government entities?

I used to use a smart card at work. This was for a network used by just about everyone in the military and most of the government.

They had one guy in the world that had a single key that was used to secure all of these cards.

At one point, he quit.

I found this out after my card shit the bed and I was waiting for 3 months to get a new card so I could get access to my computer (trust me, I really didn't care...I was still getting paid for not working). They told me that a lot of people were in the same predicament. They urged people to please turn in their cards when they left their jobs (so they could be re-used).

You left out the part where central banks will be forced to hold BTC as reserves.  A minor oversight, but I think it bears a mention.

bravo sir

We hit $5.8k twice. That was the long term double bottom.

The medium term (this past month) double bottom was at $6.2k.

Looks like 0xBTC is pumping today

https://coinmarketcap.com/currencies/0xbtc/#markets

Eh. My opinion on the nature of bitcoin, the recent trials, turbulation and tribulation in the markets, and my thoughts on the future of this coin can be summed up in the following image:

Haven't we visited the $6k "bottom" range about 4 times in recent months?  Since February, right?  That is quadruple bottom.

Instead of lambos, we are getting lamb bottoms?  Fuck.

I retired in Jan when BTC was at least 2x as now. I should likely do the same..go back to work....the problem is:

1) working with idiots. (that was a relief retiring)

2) the pay seems to not be following, what they expect from you on the job. *massive understatement*

So currently it is a NAW. I 'suppose' if I found something before it hit the want ads and/or such...perhaps it might make sense

for the right job/pay/boss...but you don't hear of those...they get snapped up pretty quick...never make public view.

Naw, will burn all my altcoins and all my BTC if it comes down to it....to stay retired the next 2 years till 65. Then will be available

for Medicare and that last year till 66 and full retirement I can use the 70k work 401k to tide me till 66 years and full boat retirement.

....Assuming my altcoins and bitcoins (ack....

my precious....) last that long. Was planning in Jan for it just to be altcoins..that is getting iffy

Again, my 'guess' that I'm going with is at this moment in the USA 'everything' is a bubble. I hope BTC has blown its bubble and is done

and acts like a store of value in a recession and goes sideways or up...and of course BTC and alts goes no lower

then 2x the amount it was last year in BTC (adding BCH value as well)...with the same ratio for my altcoins...this is the bottom...

If so...I expect a pretty 'good sized' recession in the next, with the regular investments in the next

1-2 years. A normal recession is like a 20% correction..me....planning on a 40% to 50% hit on traditional investments outside of crypto.

Thus, assuming I don't bust my ass and have medical issues and debt (no debt now) even if the crypto angle and above is as bad as

I suspect..ie same 35k lifestyle and no debt thru 66 years and beyond (with soc sec at 66 and Medicare at 65) so big 'yawn'.

But again, get your ducks in row folk. IMHO, attic mine crap in the attic sell on eBay for crypto, lessen debt....because it is gonna

haunt you when it all goes to pieces this next recession (been thru 4-5 recessions) thus you look back at all the signs and say such epic

things as 'why the hell did I get a new car? etc....again, IMHO, we are due...and when the tax cut parties are done....blamo...

hope I'm wrong. (likely wrong with my economic term of blamo) but if I'm wrong I'll simply have MORE income than I expected.....thus

my logic....win/win

denial...and delusion is how I cope in the world (tm searing)

later

brad




good point.....

Odds are about in the 50/50 territory that I will be right at any given time, and so I am not really making any bets, except to buy  as the price goes down and to sell as the price goes up.

Furthermore, I rarely change my bets based on my own personal perceptions about price direction and whether I think that it is probable that we are at the bottom or the top.  For example, if I have orders to buy $100 worth of bitcoin for every $200 that the price drops, there might be times that I change my orders by 10% or so in either direction.. so if I think that the price is dropping a lot, I might change them to $90 each, or if I think that we are reaching the bottom, I might change them to $110 each (something relatively small and incremental like that).

Great read, exactly what it all looks like

A lot of tears coming, we all gonna get rogered

Whale below knows whats going on, of course he does, when he dumping

Remember my friend, you don't pay for them to come into your life.

You pay them to leave.

Very important to always remember this.

Core dev Cory Fields saved Bcash from collapsing....

https://medium.com/@coryfields/http-coryfields-com-cash-48a99b85aad4

Alas, at last years BTC prices...I could afford them. (ie...keep them in the lifestyle such 'trophy girlfriends' require.)
 

er NOW...not so much...can't afford the lifestyle of a female sales clerk at J.C. Penny.....


the universe is 'cruel'


alas...

Perhaps you meant $15,000?

bitcoin is currently undergoing it's last great accumulation phase ... so far we have had around 4 or 5 of these, depending on how you do the math on those crazy times when bitcoin was ripping from 0.1 cents to $32 ...   those were the real crazy days guys ... anyway back to the present we now have the largest financial entities on the planet, NYSE, Goldman, UBS, etc trying to figure out what their "bitcoin strategy" is going to be, and this is in the next 1 to 2 years max ... not 5-10 year, note this is a full 5-7 years after the cypherpunks suggested these guys needed to develop a bonafide bitcoin strategy or get left behind.

So the various fudsters, scam artists and goldbugs are trying to sell you something and keep you out of the greatest monetary revolution in 500 years are lining their pockets, telling lies and shilling for frauds, pyramids and ponzis, will always show up here to stop you filling your boots in this last great accumulation, like every other time the easily deceived millions have gotten left behind when the inevitable next adoption wave comes rolling over. The market forces swelling up beneath bitcoin valuations are unstoppable, like a tsunami coming ashore in ever greater tidal pressure waves, the financial incentives and energy behind bitcoin are vast, on global and intergenerational scales in space and time. Fighting against them is the ultimate in an exercise in futility and stupidity.

Once the largest financial pools of global capital are completed hedging themselves from monetary risks with the first true global currency, bitcoin, then the extreme volatility and large adoption waves phase will be over ... there just doesn't exist the capital on the planet to create such conditions again. Your children, grand-children or descendants for 5 generations will never see what you are witnessing in these times. Bitcoin value will keep climbing steadily after this last great run, and maybe volatile but once a large portion of global capital is engaged in bitcoin as a monetary instrument the times of massive gains and extreme volatility will be largely behind us (save for some contrived scares and mini-bubble hypes). Bitcoin value will then begin to come more attached to the underlying economic activity executed using the deflationary coin (all hodlers benefit from economic and technological advances in bitcoin-denominated businesses). Bitcoin's already impressive decentralised and robust nature will only increase after the great adoption waves are finally subsiding and mining will become more widely distributed globally and into smaller more distributed devices as the mining chip technology reaches state-of-the-art, commoditised, leading edge maturity.

This is your time people, fill your boots or doom your descendants to also ran status ( you should be able to pick some up all the way down to ~$2500 in the next 18 months with good timing and preparation, anywhere below $5k is a steaming hot buy and hodl). See you at $300k in 2025.

The #1 problem in craptocurrency is that 99% of people are trying to sell you something and will lie their asses off to try and make it happen, whether it's Eth, Bitcoin, or anything else.  So, it doesn't really matter what people "know", because they're just going to lie to you anyway.  Harry Dent "knows" a lot, yet he's a state funded actor to try and prevent people from using any monetary instrument except the US dollar, and is going to lie till the cows come home to try and accomplish that task.

The only truth about any of this shit comes from people who aren't trying to sell you something or attempting to make a career out of it.  Like when Buttalik said something obviously true, that bitcoin is nothing more than a 3 of 5 multisig, then he releases an even worse, more centralized coin two minutes later while partnering with Goldman Sachs to allow them to buy up and corner the premine, making it entirely a Goldman Pyramid scam and invalidating anything he ever said before.

Everyone also knows the perma-bulls like Marcus are completely full of shit.  He's never admitted to bitcoin having a single flaw at all and pretends it's some type of deity idiots should worship as a god.  Those people are just trying to pump and dump scam you.  The only people who are telling any type of truth about this crap are people like me, sometimes Peter Todd, sometimes FluffyPony, Smooth, *sometimes* people like Anonymint. Anonymint wants to make a career out of this nonsense and release his own coin, so he falls under the category of people trying to sell you something whether he will admit it or not.  

Then you have people like Luke Jr and Gmaxwell that are far too emotionally/career invested in this stuff and instead of just admitting it's not possible to create a decentralized digital currency, that this stuff is always designed to centralize, that everyone should boycott this garbage and go back to physical metals because bitcoin is only going to be a centralized system of control and enslavement, they just say nothing and pretend the unfixable problems are somehow going to fix themselves.  This is the standard god complex that every programmer has:  that there is no problem that can't be solved, shoddily hacked, or worked around.  Let me save you the time - it is not possible to create a decentralized digital currency.