Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 13889. (Read 26723861 times)

It's hilarious to me watching the wealthy elites aimlessly flail around trying to improve the world's economies. They're in complete panic mode.

But the recovery all hinges on one pivotal thing: the Western consumer getting back to over-consuming and piling on more debt, like they desparately need them to be doing.

And that, my friends, just ain't happening. Like at all. Dead stop. And all the flailing around is powerless to jump-start it again. You can't 'force' people to consume against their will.

https://fred.stlouisfed.org/series/M2V

Not all BMW drivers are douchebags, true. But they all have to live with the stigma that was earned by the uncultured majority Same goes for Lambo owners... Sorry

Or for car people. Don't forget the world isn't black and white. It's been my dream to own a Lamborghini since I was a small child because I like them. No need for the hate.

The Lambo thing has become an in-joke that I really wish would go away.

The MSM likes the analogy and association because it paints Bitcoiners as petty and childish asshats. Kinda like Tai Lopez.

Lambos are better associated with the BCash and ICO/shitcoin crowd. I mean, Roger and CSW drive them, so....?

 Good point.  It's not a good idea in many areas to draw too much attention to your wealth unless you can also afford really good security.  Even if I could afford the Lambo, I would rather help out my family financially.  Now if I was stinkin' rich I might rent one just to drive it... ah, that's a pipe dream because that would also mean McAfee doesn't have to scarf down his wiener and beans.
 On a side note, the image I posted didn't look so large on my screen when I captured it.  It looks like I was yelling but that wasn't my intention.

A Bitcoin maximalist believes that even holding bitcoin through the upsides and downturns, it still represents a greater long store of value than fiat. If you look at the averages for YoY return over a 3-5 year period, you would definitely find that to be accurate. So if you're not holding bitcoin at all, you're not a bitcoin maximalist.

A Bitcoin maximalist also says, "Well if any other alt's only utility to me is some occasional or odd spending function that I can't currently do with bitcoin, then why hold that alt at all? What would be the point? Why can't I just trade for it if/when I need it, at the time I might need it?" In other words, holding alts makes zero sense if you believe that bitcoin is the superior store of value, the superior cryptocurrency period. Especially if you aren't even sure that altcoin is even going to be around in 1-2 years from now, or even 5 years.

If you're holding some alt just to play lotto and hope it skyrockets so that you can sell it all, then you're just gambling. You're not serious about the future of that altcoin at all. Which is exactly what 99.9999% of shitcoin holders are doing.

This is easily provable to be true, because all supposed shitcoin beliebers held exactly zero shitcoins before the Great Shitcoin Pump back in March 2017. No one cared about them. Like at all. They were derided as a bad joke. So a rising price alone doesn't suddenly give something greater value or greater utility. You have to look no further than the penny stock market to see that truth.

i never look @TA ..... i don't understand it really BUT i do think to all line drawings each day, 1 eventually will fit

however when bullish lines i like it as amusement to watch .   

Just go and look at the bitstanp chart from 2/12/13 - 5/14 and compare it to the chart from 12/17 - now.   Then look at what happened in the second half of 2014.
See the pattern emerging? It's a classic bubble pop still , hope and fear at war , boredom has to set in before we can recover properly.

I am panic buying with my last fiat reserve   Currently Bitcoin mining revenue is around 0.5$ per Th, meaning that s9 revenue is around 7$ (x14) per day with cost of electricity 1.7-3.4$ depending on the price (0.05$ - 0.1$). Not to mentioin the price of the rent/cooling etc. Last month the revenue dropped to 0.45$ - the lowest in the last 5 years. According to the diff. chart in 6 monts with the current price the revenue will be around 0,125$ per Th, i.e., 1.75$ per day, which is not enough to cover the electricity price. Of course, when this price is reached many miners will switch on/off their asics depending on their price of electricity. So the big mining farm whales are preparing to raise the price 2x-5x in the coming months. This is a child play for them, considering the income of Bitmain only. And we are talking only about miner whales. Wall street is just to enter massively the market, knowing that the time to buy cheap is running away.

Squirrel looks for more corn.
I still think its going to pump in about 24-36 hours..but hey, I was wrong 3 times already today..whats one more time. Hubris is a fine thing. Goodnight.  #dyor  

Not many good TA traders, and even less gonna share their stuff with you and that attitude

I guess you are right. I didn't see a single chart predicting with some tiny accuracy the recent crypto madness.
I mean, I don't care as  a serial buyer and holder. But, yes, I would love to see no TA for a while

Relay nodes ?

Who cares ?

Miners have the lead ...

 Careful not to get roached.  I can see how that strategy might work out well but I wouldn't call that maxamalism, Maybe more like gambling especially to drop the full load. HODL and acquire because you understand and believe bitcoin is revolution seems more like maxamalism traits to me.

Thats what Im doing

A bitcoin maximalist can have 0% bitcoin in theory. Maximalism is just about how you define your goal. What is it that you are trying to acquire the most that you can of? If you want the most bitcoins that you can possably have at some point in the future, perhaps the best path towards that goal is to have no bitcoins at all at the present time.

Yeah right.  

Not gonna happen, chicken little.  

I will be accepting the formal apology from the bulls on my desk by the end of the month. Thanks.