Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 14465. (Read 26609332 times)

These are scary times. Will make your palms sweaty when playing these little swings during bear markets.

It's not a question on if bitcoin will fail, but the questions are when will it fail, how big will it get before it will fail and how much will it effect other more practical cryptos. Bitcoin is the ultimate modern materialization of pure greed. A lot of people with unrealistic dreams of easy riches and very little practical substance. Currently PoW mining is costing the bitcoin network about 2,5 billion$ annually (https://digiconomist.net/bitcoin-energy-consumption). That is the pure electric cost, calculated with the assumption that most mining is done with cheap electricity. And you also have to count in the mining equipment that's development and production is mostly paid by the money from the crypto market, then also things like rent end salaries. The closer realistic cost of running the bitcoin network for a year is closer to 5 billion$. With an optimistic count, it is said that bitcoin has around 3-5million active users. That means that it costs around 1000$ per year for user just to keep bitcoin mining alive. All of these expenses for a payment network without actual advantages...

The millennials, who are the driving force of bitcoin, aren't able to comprehend that someone does have to pick up the bill. The only way that they don't have to pay for the mining mega expenses is for new greater fools to do it instead. But the bleak truth about greater fools is that they always eventually run out. Then bitcoiners have to pay for the mining costs of the network, with the dollar value of their bitcoins. Then you will see how all those "fiat-hating-revolutionary-snowflakes" will screech in distress, over how much less dollars will they get for their bitcoins.

The bulk of my (automated) trading model is based upon this - I've been doing okay so far, but it is a bit risky since any alt can massively drop - with no guarantee of return, I'm now trading with 100% profit and already cashed out way more than I put in, and cash out profits on a fixed basis - so happy with the risk. I tried working against fiat with a similar model and always end up out of the market

Hate to be Debby Downer here at all but the question has to be asked, does that empty mempool then also mean less pressure from traffic/volume of Bitcoin use.

For me that does not make a whole hell of a lot of sense - even though it is possible to work to the extent that the price of BTC and alts are inversely correlated.  but sometimes they all drop together, which is why the dollar/BTC pairing can be helpful. 

Perhaps jbreher plays some of those various pairs, but I think that whatever I am saying is kind of ruled out when you start adding various other cryptos as your pairs, mostly because of the extra questions of the lack of a straight line performance of the other crypto that is going to bring extra volatility and even too many additional uncertainties that vary from cycle to cycle.

I know that each of us have our own systems, so it probably does not matter any fuck what I say, because your mind seems to be already made up to trade certain other crypto pairs because for some reason you see some kind of disutility in holding dollars. 

Personally, I understand that the long term certainty of the dollar is that it depreciates in value; however, in the short term, the dollar is way the fuck more stable than any alt coin, including LTC or ETH, and part of the reason for dollar pairing with BTC is to get in and out of crypto volatility and to play it off of the dollar

To me, you seem to be adding a certain unnecessary level of additional risk and additional unknowns in terms of what the fuck those two crypto projects are doing. 

But ultimately.. whatever floats your boat... but it seems more removed from my system when you add more variables of uncertainty that can kind of negate the more focused BTC/USD approach.

Humpty Dumpty sat on the wall.
Humpty Dumpty had a great fall.
All the king's horses and all the king's men.
Couldn't put Humpty together again.

goodness no

A while back I set up a good bit of my trading stash into the JJG/Jbreher (tm) incremental trading system in the BTC:ETH and BTC:LTC pairs.  The logic being that I can slowly grow my stash by harvesting volatility while not being exposed to fiat risk.  I am always fully in crypto.

Not too long after I set it up LTC went on its recent rampage and ran off the end of my spread of asks (I ran out of LTC).

Today it finally ran back into my bids and I am back in business.

oh, in my crushed bear soul portfolio, I have about 99% retards, 0% traders, and 1% idiots
with very similar numbers in my crushed bull soul portfolio, 98% retards, 0% traders, and 2% idiots

even if I had just 0.1 btc for every word jj0m0 typed, I think I could afford to bribe him to contain the dribble

My BTC to cash ratio is about the same as yours, give or take. But I'm obviously not as serene about it as you are.

Could use more tards in the bear soul column. But who am I to argue.

Those are respectable numbers.

oh, in my crushed bear soul portfolio, I have about 99% retards, 0% traders, and 1% idiots
with very similar numbers in my crushed bull soul portfolio, 98% retards, 0% traders, and 2% idiots

even if I had just 0.1 btc for every word jj0m0 typed, I think I could afford to bribe him to contain the dribble

Are you buying Litecoin Cash?

So, pee pare ur selfie for either direction, including DOOM..... but not necessarily gonna happen.

Give us something to work with BMB.... What be happening with uie?

LCash is the tr00 vision of Lite-oshi Lite

I don't know how to change. All my machinery is set to hodl.

Are you buying Litecoin Cash?