Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 3376. (Read 26714840 times)

Don't be too hard on them for doing that. For many this is the only way they can ever hope to own a home, their labor is no longer enough.

Thank you governments and CBs for putting people in this situation. You fucks.

I mean some people are stupid enough to put the entirety of their retirement fund into crypto. Lesson #1 of investing is have a diverse portfolio.

 
 Congratulations.  There's still time to stack.

 https://www.jeopardy.com/be-on-j

 

I do believe, that’s why I’ve never sold. I guess I just don’t want people to lose from this or avoid it in the future. The assholes (Bitfinex long guy) driving the price down right now win a little when that happens.

I’ll refocus with time. Always do, this doesn’t mess with my personal life that much either so I’m not in a bad place, really.

Anyway, I’m really glad that weight has been lifted from your mind. What I’m feeling is nothing compared to what you’ve gone through. I guess we’ll all be stronger after this is over.

The chances of a %70 stock crash in the next 2 weeks are smaller then I can see.

You know...

Selling bitcoin cheap
Moving to certificates
Saving on taxes

Plenty.  *shrug*  So what.  Every crash drives away some people who were in earlier.  The ones who wind up posting wildly distorted sob stories titled “crypto ruined my life!!!!” on social media.  The next wave of bitter ex-coiner nocoiners.

Reasonable Bitcoiners won’t flip out like that—although the adjustment may be difficult, given the factors I have previously mentioned.

And most people have not yet touched Bitcoin.  For them, there is no “again”.  Why would or wouldn’t they touch Bitcoin in the future?

By analogy, it is a truism (and true) that women are generally attracted to strength—repulsed by weakness.  The strong man knows his strength.  I speak not of swaggering empty conceits, but rather of self-confidence.  Self-confidence is contagious—as are depressiveness, indecision, and panic.  ...Well, so as for women—so as for everybody.  The strong man who attracts women is also a leader of men; everybody responds to strength.

In my sojourns in altcoinland, I have oftentimes observed that altcoiners are either impressed by Bitcoin, or jealous of Bitcoin.  Bitcoin, as in “Bitcoin dominance”.  Hmmm.

somac., your sharp instincts and some of your gut predictions saved me from a fourth liquidation, and were one of the decisive factors for me to get out of debt now, at all costs.  I thank you for that.  I would be wrecked beyond wreckage by now, if I had not been paying extra attention to your posts.

Your personal text is so awesome.  An inspiration.

Now, I need to ask you:  Do you believe in your heart of hearts that you hodl something desirable?

If yes... who cares about all the people who gave in 2015, “Bitcoin is dead.”  Or now, maybe worse—eh.  I just want to think about how to get out ahead of whatever plans there perhaps may be to crack Bitcoin economically—perhaps as practical support for a new narrative equalizing it with POS shitcoins, then deprecating it.  Refocus on what makes Bitcoin better.  Think of a brighter future.

Meanwhile, if it bottoms at $17k or $15k or $OH DEAR HEAVENS I CAN’T BELIEVE IT, I’ll just be laughing and munching popcorn.  As I did in previous crashes—I got my diamond hands back, now that I have exorcised the mind-destroying, asset-destroying, soul-sickening influence of that damn margin account.  So, this crash is worse.  Whatever.  1 BTC = 1 BTC.

(Further reply to you intended, but I am exhausted as hell after what I did earlier...  The last time that margin account will ever drain my personal energy together with my money.  I may come off as unintentionally brusque; please do not misinterpret this post as being flip towards you.)

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But we are.

By analogy, on a personal level, I am in utter disbelief that I lost most of my bitcoins.  When I look at my wallet, I know that I “just shouldn’t be here”.  It should never have happened.  But it is the reality.  Living in shock, numbness, and denial after I was liquidated down to 0.5 BTC was really what got me crushed down to 0.05 BTC.  By failing to acknowledge the reality and react constructively, by default I took the path from bad to worse.

So, anyway, here we are.  Where to go from here?

You go for a ride and when you come back there's a gazillion new posts on the WO.

Well I for one have taken this oportunity to sell half my stash and bought bitcoin certificates instead, the low price makes the tax much lower.
There are four different certificates to choose from, so I have spread my buying equally on all four, just in case some goes belly up, you know, not your keyes...

I have them on my ISK account, that will give me a very low tax, like almost nothing, instead of the 30 percent on real bitcoin. and it's also a way to get my money in to the system while it's still possible without too many questions.

I have my ISK on Avanza if anyone elso from my region is interested.

ISK "investerinssparkonto" is a low tax investment account in Sweden It litterally means "investment savings account".
here's an example of one of the certificates. https://www.avanza.se/borshandlade-produkter/certifikat-torg/om-certifikatet.html/563966/bitcoin-xbt

In inflation adjusted terms maybe. But I don't think it will drop 70%, because by the time that happens we would be experiencing double digit deflation. The Fed would have pivoted by then.

some say that stock market "ought" to drop 70% as well, not sure if it will happen or not, it's certainly possible, especially in inflation-adjusted terms.

Explanation

It's those longs on Bitfinex that makes me think something is up, the only reason for so many futures longs is so you can take profit without driving the spot market up. Maybe its just the liquidations, but how many coins do these pricks have. must of been a million dumped by now.


I wasn't monitoring the price as much back then, would only check couple times a week at most, so I only saw that after it had happened. Yes it was worse in percentages, but there were far less people involved back then, where as now a lot more normies got in. I don't know if it will scar as bad honestly, but it's something I'm thinking about in terms of when it comes to recovery vs say the stock market recovery.

Yes, I don't see what's a big deal so far.
At least half of this decline is due to liquidations of some overextended hedge funds and weird companies.
To me it looks like hedgies went for an outsize returns and got overextended.
Many always point out that 'institutional' involvement cuts both ways...and it did.
Now we are just waiting for the equilibrium.

Don't you remember early 2015 when it crashed from $300 to $150 in about half a day? That was worse than this, and it didn't put people off. By about November 2015 it was back up to $500.

I wonder how many people will never touch BTC again after this. Is this going to be one of those things like the great depression where it is ingrained in the population living it at the time. How many people who sold out from the 2017 crash ended up buying again for this cycle? Would be interesting to know.

If their are whales doing this selling in an effort to accrue more coins or something stupid, there is a good chance that they may kill sentiment for a very long time. Even if the Fed goes bananas with the printing press again.

My only satisfaction would be that if these whales, after dropping the price so much, cause the exchange they are using to fail and they lose all their coins.

Who uses USDT on Ethereum?  Those with more money than sense, I guess.

I used USDT a few hours ago.  I paid a fee worth less than $0.0002 per transaction.  Pay $2 per transaction, LOLWUT?

Tether started in Bitcoinland, they now run on about a half-dozen blockchains—and IIUC, they should like to return to Bitcoinland if/when we have token implementations that would work for them.  (Maybe RGB/Spectrum.)

Ethereum is a horrible experience.  Always.  Everything that I have ever tried there has made me miserable.  The whole thing is just a scam to bilk people for gas.  I think its days are numbered.  I hope that it crashes and dies soon.

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Eh, whoops.

Don't drink anything fizzy, like cola or beer. I made that mistake and threw up once.

The next 24 hours are critical..
.....



No, not for bitcoin. idgaf about that.
For me ...I'm going to the amusement park with my daughter and I hate roller coasters.
No worries though, she hates them too, but we can handle that log flume thing where you get soaked and buy the pic
they snap of you screaming and looking terrified.
So far, I got 2 of them of us from 2 different years.
Number 3 coming up.
That's priceless.