Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 16496. (Read 26709933 times)

Hehe...  I just saw his Twitter picture still says 'Bitcoin', not 'Bitcoin Cash'.

His site bitcoin.com also has BTC/USD ticker on top, not BCH. and when you click on 'buy' button, it says 1 Bitcoin = 4500 USD. That means BTC, not BCH! Sucker!

shutdown by Governments

The following paragraph goes into the matter of a shutdown of Bitcoin exchanges by Governments:
"A more likely scenario is that governments or hackers shut down Bitcoin exchanges. In fact, back in 2014, there was the infamous Mt. Gox hack, in which over 800,000 coins were stolen and almost caused the end of Bitcoin. The owners of cryptocurrencies must hope that governments never shut down the exchanges or websites that enable these electronic transactions. Governments can try to ban gold ownership, but that must be done on a door-to-door basis and is extremely difficult to accomplish. But to place confidence in cryptocurrencies is to put faith that governments cannot control the internet."

I see a lot of different arguments mixed together. If I understand Michael correctly, the arguments boil down to the following:

    governments/hackers may shut down Bitcoin exchanges
    the Mt. Gox hack almost caused the end of Bitcoin
    governments can shut down exchanges and websites and thus shut down cryptocurrencies
    banning cryptocurrencies is easier than banning gold

While government interference certainly plays a role, I consider it kind of a black thought that governments would completely ban cryptocurrencies. That would be token of a total lack of trust in current governments.

Haircut confirmed.

30% haircut. Wait for it.

Look... bitcoin is dead again. Move on with your life.......

Jimbo:

Do you keep track of your average cost per BTC?  Since you buy and never sell your average cost per BTC must be going up and up and up?  I understand that you started buying in the double digits (or at least I recall that), and I think that you responded to this kind of question from me previously, so sorry about the redundancy.

I do believe that your system does go to show (even with various fees) that you can come out much ahead, even by employing a BTC hodl and accumulation strategy without selling (except maybe selling when it comes time that you really feel that you need to cash out of some of those babies)

Recall that I started buying at $1200 in late 2013, and after about two years of buying at lower prices, my average price per BTC dropped to a bit more than $500.  It could have been much lower, except I had blown a larger portion of my wadd at buying in the $600 and $400 price territories while experiencing some quasi-unexpected cash flow issues in 2015...

Thereafter, starting in late 2015 I engaged in trading that employed a good system of buying back with money that I had gained in selling, and largely brought my BTC stash up while bringing my average cost per BTC down to below $400 by early 2017.

There seems to be some advantages to limiting your interactions and using paper storage because my keeping some coins on exchanges has resulted in various losses through hacker sophistication to get into my personal credentials and also through exchange vulnerabilities, so sometimes these kinds of exchange related losses and interacting by sending BTC around can end up taking away some BTC profits to lower the total amount of bitcoins held and/or raise the average cost per BTC. 
 
I think that the punchline for me, is that my total number of BTC is lower than it had been in late 2015 because of losses - but my average cost per BTC is less (at least in the $400-ish territory), but mostly due to BTC price appreciation of selling higher and buying lower - even though I am buying back at much higher prices than my average, my average price per BTC keeps going down because I am selling at prices higher than I buy.

Your system seems much more hands off, even though you run out in your pajamas at 2 in the morning.  hahahahaha 

My gut feeling says somewhere around 4200. Then we go up again.

Look... bitcoin is dead again. Move on with your life.......

So when are we going to See a new ATH its taking to long allready ......

And when can we talk on buying a Nice DIP at thid time ....? +- 4300

It seems quite strange that we continue to have goldbugs coming into these bitcoin threads with their hard-ons for gold and pms, and holy fuck has bitcoin been outperforming pms in the past couple of years... holy fuck, holy fuck!!!

Reading from my tea leaves weekly bitcoin chart, I predict at least one big red candle in september. my bet is that we'll have a look below 4k. and if its deep enough i would finally be able to buy back some

Damn, we going down further. Where will the bottom be

Lol, nobody is buying Roger Ver's bullshit anymore:

https://twitter.com/rogerkver/status/903780652369289216

Just look at all the commenters... #REKT

Damn, we going down further. Where will the bottom be

“In 2013 the central bank in Germany said it wanted its gold back from the UK, France and the US. Here’s the thing, Germany does not want all of its gold back.”
 
“As it is going through its election cycle, there are specific factions of the German government that are pushing to get German gold back to domestically being held. The German elections are in mid-September, it is not a coincidence that this happened just before that. It was to appease political dynamics as well as leasing development of gold


“Bitcoin is a very small market cap compared to gold. I don’t think it has much impact on gold and looks like a bubble right now.”
 
“As someone who has been around Wall Street a long time I’ve seen a lot of different tricks of the trade and frauds that come and go. I am seeing all of the various schemes in bitcoin right now. There’s good forensic evidence that there are people doing wash sales right now and the suckers don’t know they are getting sucked in. Gold is still the ultimate safe haven
 

“I expect to see gold hit $5,000 and eventually to $10,000 an ounce. Maybe not tomorrow or a couple of years but that is the fundamental price of gold as money.”
 
“In a recent conversation with legendary commodity investor Jim Rogers he indicated to me was, ‘nothing goes to that level without a 50% retracing before it resumes its path upwards.’ Moves happen very fast. The question is, what are the catalysts that could take it higher?”

People can and should be allowed to buy bitcoin, but the US Government will in time call them traitors, or terrorists, and seize their assets.

How much is your BTC worth in Huston BTW. ... best