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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 17734. (Read 26716281 times)

legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
I did help a friend buy some in 2014 at $600, who sold at just over $200 because he couldn't stomach the drop. Never again.

I considered recommending it in the $200s, but thought better of it. Most people will hold a hidden resentment against you if it drops, and their loss will become your burden.

... and it can be even weirder than that. Many people will also resent you if you recommend a winner and they don't buy and it goes up ... basically any time you put yourself in the situation of "i'm right, you're wrong" or "i'm wrong, you're right" and there's financial advantage involved, they will resent you ... it's lose-lose.

Strangely, if you charge them exorbitant fees and call yourself a "financial adviser" all that burden goes away and you can gamble with their funds like a drunken sailor.
legendary
Activity: 2604
Merit: 3056
Welt Am Draht
it mean HODL for 10 years and then dump everything you got  Tongue

Fair enough. A price beyond its 'realisable potential' sounds pretty darned high to me. I supposed I'll let it go and invest my fortune in teaching worms English.
sr. member
Activity: 704
Merit: 270
Bitcoin is eventually going to be priced above it's realizable potential and that tipping point will hurt big time. I think this is to come in 10 years or so...

What does this mean?

We all think (mostly) that bitcoin/blockchain has a bright future, with layers and an ecosystem built on top of the immutable ledger. Part of the price of bitcoin I think is potential utility in addition to current utility.
Many applications will be realized and the price will climb in good faith that there is still potential yet to be realized, all as people hop on the train. At some point we will plateau w.r.t. to potential, causing a shift in how the market works (end of bubble cycles maybe). Kinda like "it is what it is" instead of "it is going to be amazing".

Maybe this is already happening; things we already expected have not come to fruition (LN, sidechains) and we just accept bitcoin as digital gold, a store of wealth (fat chance!).

I don't really know...
hero member
Activity: 658
Merit: 503
Bear with me
Taking out $1300 over the weekend?
sr. member
Activity: 392
Merit: 250
it mean HODL for 10 years and then dump everything you got  Tongue
legendary
Activity: 2604
Merit: 3056
Welt Am Draht
Bitcoin is eventually going to be priced above it's realizable potential and that tipping point will hurt big time. I think this is to come in 10 years or so...

What does this mean?
newbie
Activity: 24
Merit: 0
Support at ~1225$ looks quite solid, as the resistance at ~1240$. Looks like there will be a sideways movement for now.
legendary
Activity: 2842
Merit: 1511
I did help a friend buy some in 2014 at $600, who sold at just over $200 because he couldn't stomach the drop. Never again.

I considered recommending it in the $200s, but thought better of it. Most people will hold a hidden resentment against you if it drops, and their loss will become your burden.
legendary
Activity: 2142
Merit: 1065
✋(▀Ĺ̯ ▀-͠ )
Bottom at $1250, I confirm.

Gdax leading with $1270 and the others between $1257 and $1270 except btc-e
And look to the Chinese - $100 difference lol, between $1150-1180  Tongue
hero member
Activity: 658
Merit: 503
Bear with me
Bottom at $1250, I confirm.
sr. member
Activity: 704
Merit: 270
What is up with the gold parity and Gox ATH and so?
Just asking.

Gox ATH was an imaginary ceiling, and breaking it is closure. Any holder of bitcoin EVER is now in the green.

Now 1 arbitrary unit of account (a BTC), in a decentralized protocol thought up and developed from nothing more than an idea, is worth more than an oz of GOLD... In <10 years.

Naysayers have never been grasping at straws like now.

I have been thinking/reading about this lately. My conclusion is that gold is nothing more than a vanity asset, and will never reach the "promise land" while bitcoin can. Here are the things to consider why i have reached this conclusion:

1. Potential for increased adoption for Store of value:

Gold was and is a store of value for thousands of years. That sound like a plus, but, actually that shows gold has no 100 millions of future adopters ahead of it. Everyone knows gold, especially governments want to hoard it (which should raise a red flag, it means they think/will act on to control it). Young people (20-40), apart from India and similar low economic wealth societies, has no interest in hoarding gold.

Bitcoin - as for any other technological adaptation cycle shows us - has no upper limit on the number of potential investors, 99.99% of the population has still no clue what is it, also, it can adapt to any human behavior, unlike gold, which has fixed, "intrinsic" properties (and hence fixed, unsolvable limitations, like weight, space, which lead to fractional paper gold reserves already, unlike bitcoin, where everyone can instantly proof, that his bitcoin exists, and only he has control over it).

2. Liquidity and actual economic activity:

Gold has no practical economic use (actually, the fact that it can be used in electronics, medicine and art makes it less "money")
in everyday life. No gold coin can realistically be used to pay for goods/services in a "Monday morning coffee" situation. The only way to release the economic value from gold holdings is to trade it - with much hassle, limited trading hours, extremely limited and actual physical presence in a gold "pawn shop" - for a more liquid asset, like USD or *cough* bitcoin. While this ain't that such a big deal for long time holders, still, compared to "digital gold", the premium for physicality is huge in comparison.

Bitcoin is a different animal, a perfect embodiment of the Informational Age sentiment, waaay more liquid in real life market events - by that i mean: i can actually use my bitcoins for beer, food, groceries, etc., right now(!), while my gold bars can not be used directly for any payment, or transferred through the globe, 0-24h. Bitcoin leaves gold in the dustbin of history regarding actual economic activity, and, you can not upgrade the "features" of gold, unlike bitcoin's.

TLDR; for an investor, there is no logical reason based on the above, to postulate a 10x value increase in 5 years for gold, while there are many reasons to do it for bitcoin. Hence, as a long term store of value, "digital gold" beats old school gold, and the opportunity cost of holding one of them is in an obvious non equilibrium in favor of bitcoin, which will start a self generating cycle of gold investment ---> bitcoin investment.




keep going, I'm almost there...

All kidding aside, I love this sentiment. It does work the other way though. Bitcoin is eventually going to be priced above it's realizable potential and that tipping point will hurt big time. I think this is to come in 10 years or so...
member
Activity: 63
Merit: 10
Smaller fishes can be younger but also smart ;p
Possible floor at @1939$ on stamp, let's check it again after some hours. That was the Gold price this morning (1934$ right now), so it can be a good signal that the markets approve that btc > gold, but let's see if it is in the short term or in the long one.

Btw what are now saying those gold-supporter twitter accounts bearing about btc?  Grin Grin Grin

$1939? Back from the Future part unknown?
maybe some other $$, not USD  Grin

Shit, reedited lol, i meant 1239$.
Watching this thread from early 2013 but i am a noob posting   Cry Grin
sr. member
Activity: 401
Merit: 280
What is up with the gold parity and Gox ATH and so?
Just asking.

Gox ATH was an imaginary ceiling, and breaking it is closure. Any holder of bitcoin EVER is now in the green.

Now 1 arbitrary unit of account (a BTC), in a decentralized protocol thought up and developed from nothing more than an idea, is worth more than an oz of GOLD... In <10 years.

Naysayers have never been grasping at straws like now.

I have been thinking/reading about this lately. My conclusion is that gold is nothing more than a vanity asset, and will never reach the "promise land" while bitcoin can. Here are the things to consider why i have reached this conclusion:

1. Potential for increased adoption for Store of value:

Gold was and is a store of value for thousands of years. That sound like a plus, but, actually that shows gold has no 100 millions of future adopters ahead of it. Everyone knows gold, especially governments want to hoard it (which should raise a red flag, it means they think/will act on to control it). Young people (20-40), apart from India and similar low economic wealth societies, has no interest in hoarding gold.

Bitcoin - as for any other technological adaptation cycle shows us - has no upper limit on the number of potential investors, 99.99% of the population has still no clue what is it, also, it can adapt to any human behavior, unlike gold, which has fixed, "intrinsic" properties (and hence fixed, unsolvable limitations, like weight, space, which lead to fractional paper gold reserves already, unlike bitcoin, where everyone can instantly proof, that his bitcoin exists, and only he has control over it).

2. Liquidity and actual economic activity:

Gold has no practical economic use (actually, the fact that it can be used in electronics, medicine and art makes it less "money")
in everyday life. No gold coin can realistically be used to pay for goods/services in a "Monday morning coffee" situation. The only way to release the economic value from gold holdings is to trade it - with much hassle, limited trading hours, extremely limited and actual physical presence in a gold "pawn shop" - for a more liquid asset, like USD or *cough* bitcoin. While this ain't that such a big deal for long time holders, still, compared to "digital gold", the premium for physicality is huge in comparison.

Bitcoin is a different animal, a perfect embodiment of the Informational Age sentiment, waaay more liquid in real life market events - by that i mean: i can actually use my bitcoins for beer, food, groceries, etc., right now(!), while my gold bars can not be used directly for any payment, or transferred through the globe, 0-24h. Bitcoin leaves gold in the dustbin of history regarding actual economic activity, and, you can not upgrade the "features" of gold, unlike bitcoin's.

TLDR; for an investor, there is no logical reason based on the above, to postulate a 10x value increase in 5 years for gold, while there are many reasons to do it for bitcoin. Hence, as a long term store of value, "digital gold" beats old school gold, and the opportunity cost of holding one of them is in an obvious non equilibrium in favor of bitcoin, which will start a self generating cycle of gold investment ---> bitcoin investment.

hero member
Activity: 784
Merit: 1001

It has taken me a LONG TIME to really do a thorough analysis of bitcoin because there are just far too many variables, but there it is.

To what extent does your analysis rest on the assertion that bitcoin can

... arbitrarily be changed by some guy on a random whim when he wakes up in the morning...

?

Because that is really not a fair summary of the situation. Which I am sure you know without me telling you. But I wonder whether your analysis is fully settled (in your own mind) ...



hero member
Activity: 1133
Merit: 819
None of my friends have mentioned bitcoin to me recently.

Now...these are the friends I was boring back in 2013/14 about it and when the shit hit the fan and it dropped to $200 I bought them all up. My friends know this.

This has all happened and not one of my mates has asked or text me about bitcoin.

Is this because:-

A. They all know the price now and don't want to talk about it as they feel sick knowing they laughed and made jokes.

B. They haven't even heard the news as the media have hardly reported on it.

C. They hate me and never liked me in the first place bitcoin or no bitcoin.

haha same here. I entered in bitcoin world in nov. 2013, and bought my first bitcoin on the top. Ande then lost in cuz I've been goxed.
But then I was more cautious, bought almost all of my stash at 200$.
Now all of my friends and family regrets that they didn't invested back then.
And some are asking me to invest their money now  Grin And I'm like: Really do you want to be the fool who buys on the top and sells at the bottom? And they still want to invest...

Ask them if the price drops, at what price will they decide to sell. Like if it drops back to $200 are they going to sell. If they say yes then tell them they have to be prepared to ride it ALL THE WAY TO ZERO without selling. If they're not ready to do that, I would say I won't help them because the only certainty is that it's going to be VERY volatile.

I did help a friend buy some in 2014 at $600, who sold at just over $200 because he couldn't stomach the drop. Never again.

Bitcoin is a lot like the movie 'Fight Club'.

The First Rule of Bitcoin is: You do not talk to friends, family, or colleagues about Bitcoin.

The Second Rule of Bitcoin is: You do NOT talk to friends, family, or colleagues about Bitcoin!!!

What's the secret handshake these days?

You don't shake hands you just do this:
legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
None of my friends have mentioned bitcoin to me recently.

Now...these are the friends I was boring back in 2013/14 about it and when the shit hit the fan and it dropped to $200 I bought them all up. My friends know this.

This has all happened and not one of my mates has asked or text me about bitcoin.

Is this because:-

A. They all know the price now and don't want to talk about it as they feel sick knowing they laughed and made jokes.

B. They haven't even heard the news as the media have hardly reported on it.

C. They hate me and never liked me in the first place bitcoin or no bitcoin.

haha same here. I entered in bitcoin world in nov. 2013, and bought my first bitcoin on the top. Ande then lost in cuz I've been goxed.
But then I was more cautious, bought almost all of my stash at 200$.
Now all of my friends and family regrets that they didn't invested back then.
And some are asking me to invest their money now  Grin And I'm like: Really do you want to be the fool who buys on the top and sells at the bottom? And they still want to invest...

Ask them if the price drops, at what price will they decide to sell. Like if it drops back to $200 are they going to sell. If they say yes then tell them they have to be prepared to ride it ALL THE WAY TO ZERO without selling. If they're not ready to do that, I would say I won't help them because the only certainty is that it's going to be VERY volatile.

I did help a friend buy some in 2014 at $600, who sold at just over $200 because he couldn't stomach the drop. Never again.

Bitcoin is a lot like the movie 'Fight Club'.

The First Rule of Bitcoin is: You do not talk to friends, family, or colleagues about Bitcoin.

The Second Rule of Bitcoin is: You do NOT talk to friends, family, or colleagues about Bitcoin!!!

What's the secret handshake these days?
legendary
Activity: 3990
Merit: 4597
Possible floor at @1939$ on stamp, let's check it again after some hours. That was the Gold price this morning (1934$ right now), so it can be a good signal that the markets approve that btc > gold, but let's see if it is in the short term or in the long one.

Btw what are now saying those gold-supporter twitter accounts bearing about btc?  Grin Grin Grin

$1939? Back from the Future part unknown?
maybe some other $$, not USD  Grin
legendary
Activity: 3794
Merit: 5474
The media is loving the whole SnapChat bullshit I see. Gone up this much etc etc. Shares up this much yardy yarr

Bitcoin..........tumbleweed.......


Seriously though WTF is it with the news and Bitcoin? It's quite unbelievable.

SnapChat's stock chart will look pretty much just like Twitter's within 24 months.
legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
I will sell when:

1) rpeitila announces the renovation of his castle

2) Goat buys a new car


Confirmed ... usually the major exchange/web-wallet/centralised service of the time has some kind of seizure also, hack, withdrawl limits, freeze on trading, etc ... as it ever was.

I'm seeing $1280 resistance, ~$1250 support ...



... not bad.
legendary
Activity: 1358
Merit: 1016
The media is loving the whole SnapChat bullshit I see. Gone up this much etc etc. Shares up this much yardy yarr

Bitcoin..........tumbleweed.......


Seriously though WTF is it with the news and Bitcoin? It's quite unbelievable.
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