Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 5026. (Read 26609332 times)

 Well I hope you were in a public restroom otherwise that would be strange.

Good job, OOM!!!!!!!!

Thanks for taking one for the team.

I was wondering why we like you so much in these here parts.


My initial thought was to reconfigure the bank dog as a puppy, but then I realized that even though we are in the midst of a rebound from a 56% correction, we are still bouncing around in about a 40% (actually 38.5%) correction range, but overall what the hell we talking about, we are around 4x up from early September 2020.. yeah, that is close to 11 months ago, but still gotta be feeling largely UP, still - even if some folks are still anxious for MOAR up....

What I am trying to say is that giving credit to the system that I follow, I am not really needing to re-depict the bank account image as a puppy because for some strange reason, when bitcoin goes up my cash goes up too, and we are still in a great place (since I have been in bitcoin for nearly two full cycles now), and both my bank and my bitcoin kind of go up together - even though of course, over the years my bitcoin size has largely dwarfed all of my other investments and I have allowed bitcoin to remain a kind of disproportionate size in comparison to the rest, because it got there through disproportionate performance without any real signs that it is going to underperform various other asset classes - even if we may well have some dippenings here and there along the way.

I think again that I must give some credit to the time factor, and many of us have probably heard of the expression that it is not timing the market, it is time in the market, and with bitcoin, some might think that there is a kind of get rich quick ability, but still I tend to think that even if a guy (or gal for that matter) has a decent amount of resources, s/he still likely needs more than just one cycle for a lot of the varying comfort levels to start to play out.. and gosh, I don't mean to be imposing my own financial status on other people because I appreciate that we are starting from a variety of starting positions... so getting back to my earlier point regarding my sense that through my own way of attempting to manage my bitcoin holdings, both bitcoin and cash reserves have a tendency to go up together, but the contrary seems to be quite true also, in terms of some of the tighter and emotional times do seem to tend to come when the BTC price goes shooting down and if it stays down for a long time, then both the bitcoin value and the cash reserves seem to experience a whole hell of a lot of stresses that could become unbearable (perhaps causing a mindrust melt situation) in the event that a decent amount of financial and psychological preparations are not attempted... and maybe also experience has taught that maintaining a certain level of reserves (even in dirty fiat) can be quite handy-dandy during those holy shit DOWNity moments that come from time to time (perhaps inevitable, I don't know?).

I am not even personally except from having had gone through some cashflow shortage situations upon considerable and extended DOWNity periods, even though I like to conjecture that I believe that I have gotten better at some of the following through with attempting to take preventative measures, even when I cannot feel that I am immuned to feeling as if I may well have future stresses regarding whether I may have spent too much, or failed to sufficiently prepare my lil selfie for downity when those moments come.. so having an upcoming bill (or set of bills) in 4-6 months, and then feeling like you can ride out the volatility, but then the BTC price ends up going down and staying down the whole time can still cause some frustration even if your overall bitcoin portfolio might be 5x, 20x, 50x or even 100x in profits (even after the dippening scenario ends up materializing in reality - rather than hypothesized as "unlikely").

Kudos to the man who is making such posters and saving newbies to rather go for some shitcoins available in the market.

Good morning Bitcoinland.

Still going sideways at $40k... currently $39923USD/$49690CAD (Bitcoinaverage).

A little consolidation before continuing up is a good thing.

Go Bitcoin go.


Annoying isn't it?

Spent most of my adult life without a bank account or credit card. In the world of fiat, cash rules. Got my first credit card in decades a few years ago despite not having a bank account, just to get a free t-shirt at the ballpark. Turned out to be handy for buying airline rickets and booking hotel rooms.

Got a bank account this year just to buy the lake. It's getting hard to buy land here with cash these days. At least in Mexico, most people still buy land by counting out pesos and putting them in the seller's hand. The last time I bought a house for cash in Canada was in the 1980s. Luckily my lawyer was a tough old bird and claimed lawyer-client confidentiality when asked at the bank about all the cash.

Talk about the thin edge of the wedge. I never had ID (I don't drive) until I was forced into it by MtGox to try to get my 50 bitcoins back. Now I'm burdened with ID, a credit card, and a bank account.

What's the world coming to?

That's a long ass poop!! Ya might wanna get that checked out man...

Oh, don't let the sly Ole Lama fool you Phil!
He's probably sitting on 2k+ coins of 2010 vintage and laughing his ass off every time the "kiddos" start stressing over a 25% dip.

-Cope

Explanation

12 hours later, while taking a poop, I still see people talking about MtGox. 

  did you really have 120 BTC  and lost it on exchnages

Losing 120 or so coins on MtGox/Bitcoinica taught me how broken bitcoin is. If someone as intelligent as me can lose that much, then most ordinary people don't have a chance. It's just another reason I know bitcoin will never work out.

Explanation

 Wait.  Are we supposed to have a bank account?

OT: I find it both hilarious and sad, that the general public doesn't understand why the stonk market ends each year ~10-15% in the green, when it doesn't even make sense to go up. Every single year. The markets will never have a single down year. And two in a row is completely unthinkable.

The secret is because it has to. The wealthy elites have to at least beat the high inflation every year to preserve their wealth, and the Fed will make sure to accommodate them by giving them free money and pumping the markets.

The general public only sees the interim ups and downs between January and December. But these market fluctuations are completely irrelevant. There will always be more up days than down every year. Regardless of the crumbling world economies.

The Fed will keep pumping markets until one day, it doesn't work anymore. Jobs will be completely gone, houses will be unaffordable, riots in the streets, and the markets will hit the highest of all time highs.

Haha. I think 2020 put the lie to that.

Perhaps it's this one

I too will admit that I lost a non-trivial amount of coins at an exchange in the early days. I won't name the exchange, but it wasn't Mt. Gox.

Did I whine or cry? No. My own stupid fault for trusting them. I learned, and moved on.

Not your keys, not your coins.

Explanation

More like



I started out by putting 5% of my fiat into BTC. Now Fiat is 5% of my portfolio. If that. As it should be. Just enough to cover expenses with providers who don't accept anything else and provide liquidity for when it might be needed. Besides, as per Gresham's Law I'm happy to spend all my crappy money, before I touch any of my shiny, good money.

It's not 2013 anymore. We've all had plenty of time to get this shit figured out...


Precisely.

The funny thing about China is that their communist leadership is constanly monitoring the price of Bitcoin. Even more addicted to watching the charts, than the hodlers! The more time passes and the price rises, the more nervous they become. The people prefer to buy an asset which increases in price, rather their always crashing yuan. Jesus, those thousands horrible FB adds portraying some nasty chinese and Elon. I report tens of them each day for scam advertising. And the fear of inflation of the yuan is shaking their bones, starting from the laughable winnie the pooh down to the last government clerk. Regularly they have to invent new FUD to stop the bull runs, with absolute zero as a result. No wonder one of them cried on cctv - "because of Bitcoin, we all are gonna die!". They are completely helpless but they try to mislead the world that they have power. They tried so many ways to prevent the mass adoption of Bitcoin in China and they think they've succeeded. But the truth is only the miners which bring money for the economy were forced to leave the country. Everyone else can easily avoid the bans and buy bitcoins. No matter how hard winnie the pooh try to ban exchanges, internet can offer myriads of ways to get bitcoins. But the illiterate and ignorant peeps dig heads in the sand of their "bans" and think the danger is gone  



The same applies for US government puppets who make up comical FUD, like the female frigid senator speaking about the shadowy coders.   I'm sure she has some stash and after she steps down as a senator, she will become a crypto advisor and activist, like Jay Clayton and Mnuchin.

Explanation