Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[JayJuanGee]

"BTCKING555 (@btcking555) 2m2 minutes ago

Latest from insider Bitmain Q3 results are shaping up much worse than expected. There will be even more massive inventory and crypto write-downs. that in addition to collapsing S9 prices and skyrocketing network difficulty #bitmainipo @HKEXGroup"

https://twitter.com/btcking555/status/1046828022958116867

EDIT2:


https://twitter.com/btcking555/status/1046830200372318213

............

BTCKING555 @btcking555 (5m5 minutes ago)

There were 3 things propping up BCH: 1) Bitmain exploiting Seller Market forcing customers to buy S9s for BCH 2) Bitmain liquidating its BTC stash to buy BCH 3) Bitmain using its profits. All of the above is gone now: 1) Buyers Market 2) No more BTC 3) Huge Losses. BCH is Doomed!
https://twitter.com/btcking555/status/1046835554514608130

Call me a skeptic.  I have my doubts about whether we can really predict a debilitating downfall of BCH based merely on these speculations... There are a lot of dumb people who buy into other factors, such as "when pump" that can sometimes be self-fulfilling, even if an overall negative trajectory seems to show on the charts.

[JayJuanGee]

[edited out]

We that is the fundamental argument is't it?  I mean you ad-hom calling me a loon is not very effective, but that aside, The choice of the Bitcoin camp is to move mass tx *off* chain.  And segwit allowed that.  The Choice of the BitcoinCash crowd is to have every transaction permanently recorded on the main chain.  I think the layer-2 way is right, and therefore I am glad to see hundreds or thousands of tx/sec to move OFF the blockchain.

Lightning, or something extremely similar, would've been possible without segwit.

A progression towards "crazy bat shit" can be a slow one (I am just using your words here, infofront... so nothing personal).

Actually, I thought that there was a considerable amount of consensus that segwit was a good adoption, and in fact it was adopted with overwhelming consensus.  You realize that reversing segwit would likely require consensus that is in a similar ballpark as the level that caused it to pass.  Accordingly, aren't we barking up the wrong tree in a kind of frivolous pie in the sky manner if we are expecting that segwit is going to be reversed or to whine about segwit being in place because it has become part of bitcoin.. so on a certain level there is a need to just deal with that fact rather than complaining about how bitcoin "could have been better" without segwit.

Your point about lightning network without segwit and other developments without segwit are all fine and dandy observations, and even likely true that lightning network and even very creative innovations in bitcoin could have been accomplished without segwit - yet these seem to be pie in the sky and even whinny talking points because the overwhelming consensus was to pass segwit and seems to continue to be an overwhelming consensus amongst the bitcoin community - so seems a bit counter-productive to hypothesize about what could have been or should have been blah blah blah, because those fantasy scenarios are not even on the table at the moment. 

Furthermore, whining and hypothesizing about a world without segwit in bitcoin seems to merely play on bitcoin attack vector talking points, or altcoin shit coin bitcoin wannabes that are just trying to get a hook on something negative about bitcoin in order to pump their speculation of less than 1% probable FUD spreading scenarios.

[JayJuanGee]

Just bought s'moar. Dollar cost averaging on its way, especially on the way down as someone else has drilled into our collective heads  

I hope my timing is lucky this time around. Not so much for the small advantage of buying slightly cheaper, but as a good start for a year final bull run in bitcoin's best tradition. Every moon climb begins by tackling a hill.

I've had some laddered buy orders sitting around for months going from $5,200 to $3,800, or something like that. Tempted to cancel those and just buy in around current levels, as bull season has begun. I'll likely buy in higher if I see confirmation that the bear trend is over.

Of course, you can tweak your orders at any time; however, I doubt that it hurts having orders that go down the spectrum of possibilities, just in case. 

Largely, since about early February, I have maintained buy orders down to $3k; however, I have tweaked them from time to time, too.  I have also held onto a decent size reserve of funds that are ready to buy down to $1k and even lower, even though I have continued to have considerable doubts about any of those price levels being reached in this particular correction cycle.  Part of the satisfaction of cashing out at higher levels and all the way up to $19k was to be able to adjust and to have a reserve that goes further down the price scale, just in case the BTC price corrects further than expected and longer than expected (which continues to be within the realm of reasonable (even if extreme) possibilities).

Accordingly, I would not completely cancel any of those orders down to $3,800, yet you can tweak them in a couple of ways by changing their size or their increments and/or just pulling some more money from other places in order to buy more around the ballpark of current prices.

Ultimately, the way that you tweak should be to accommodate your own changes in sentiment, yet completely cancelling or taking BIG moves seems to be more of a gambling approach rather than a meaningful attempt at some kind of semblance of sound investment (if bitcoin can be placed into such category with its continued expected extreme volatility potential).

[yefi]

One of these days... Bang! Zoom! Straight to the Moon!

Not even Jackie Gleason has that much punching power

[Rosewater Foundation]

Meanwhile, I give up. The show's over for me. This money can be put to better use somewhere. I'm sure of it. Thus and so I'm cashing the fuck out before I do anymore damage to myself. God speed, you lot of sophisticates. Give my regards to mister Toronto.

Cheers and bon voyage or whatever.

[Last of the V8s]

Meanwhile, I give up. The show's over for me. This money can be put to better use somewhere. I'm sure of it. Thus and so I'm cashing the fuck out before I do anymore damage to myself. God speed, you lot of sophisticates. Give my regards to mister Toronto.

Cheers and bon voyage or whatever.

Very sad to hear it. For god's sake keep some back or you'll be fucked. Bon chance!

[xhomerx10]

Meanwhile, I give up. The show's over for me. This money can be put to better use somewhere. I'm sure of it. Thus and so I'm cashing the fuck out before I do anymore damage to myself. God speed, you lot of sophisticates. Give my regards to mister Toronto.

Cheers and bon voyage or whatever.

 Thus did a handful of rapacious citizens come to control all that was worth controlling in the Wall Observer thread.

 God bless you Mr. Rosewater.

 Take care

edit:

[d_eddie]

Meanwhile, I give up. The show's over for me. This money can be put to better use somewhere. I'm sure of it. Thus and so I'm cashing the fuck out before I do anymore damage to myself. God speed, you lot of sophisticates. Give my regards to mister Toronto.

Cheers and bon voyage or whatever.

Capitulation NOW?
A contrarian move if I ever saw one.

[jojo69]

don't go!

all the plants will die

[yefi]

Meanwhile, I give up. The show's over for me. This money can be put to better use somewhere. I'm sure of it. Thus and so I'm cashing the fuck out before I do anymore damage to myself. God speed, you lot of sophisticates. Give my regards to mister Toronto.

Cheers and bon voyage or whatever.

Good luck to you in whatever you choose, but the great game isn't over yet imho.

[Rosewater Foundation]

I love how you all still have hope. It's refreshing.
I'd hope it all works out for you, but, well...

[bitserve]

Meanwhile, I give up. The show's over for me. This money can be put to better use somewhere. I'm sure of it. Thus and so I'm cashing the fuck out before I do anymore damage to myself. God speed, you lot of sophisticates. Give my regards to mister Toronto.

Cheers and bon voyage or whatever.

You serious? As in cashing ALL out? Really?

[d_eddie]

I love how you all still have hope. It's refreshing.
I'd hope it all works out for you, but, well...

I don't believe you a bit 

[JayJuanGee]

Mood is mostly optimistic here:
https://www.tradingview.com/symbols/BTCUSD/

I had not seen that website before

bro
you must have.
else how do you live?

Previously, I had seen trading view, the website, but I had not gone into the technical metrics pages, and especially the pages with the neat little needle gauges (seem to be analogue, but likely digital).

I guess I had been deprived, and/or working with less than a full deck of cards (or less than a full chest of tools), so could be part of the reason that from time to time my BTC price predictions were NOT quite up to par with the rest of you non-handicapped WO geniuses?  

[JayJuanGee]

I love how you all still have hope. It's refreshing.
I'd hope it all works out for you, but, well...

I don't believe you a bit  

Gotta take his bullshit seemingly inopportune timed whining with a considerable grain of salt, and even consider the reverse psychology (or the fictitious) angle.

[kurious]

I love how you all still have hope. It's refreshing.
I'd hope it all works out for you, but, well...

Come on Rosewater, old chap - are you sure you want to get out completely - no little insurance policy left, just in case?  Sure, it's rough, and no one can guarantee anything will turn up soon - but if you cash it ALL in now, you will probably never buy back in.

No financial advice - but maybe take some time out.... Or at least sleep on it a bit?  And yes, you will be missed. Really. 

Go see what the Mayor thinks?

[Icygreen]

That's a proper WO commemoration of the bottom if I ever saw one!  I once watched the mayor sell around 4k just before we shot into the stratosphere. 
Hope you're able to relax your nerves now. Drop by from time to time, OK.

[Torque]

...but the great game isn't over yet imho....

[BotanicKilt]

Has not sense at all, but very attractive painting at the same time  

[JayJuanGee]

That's a proper WO commemoration of the bottom if I ever saw one!  I once watched the mayor sell around 4k just before we shot into the stratosphere. 
Hope you're able to relax your nerves now. Drop by from time to time, OK.

If RF is telling the truth, and he really has lost confidence under these current BTC circumstances, including this price, then it is quite likely that he is going to be back, buying back in, somewhere between the upper $20ks to the pre-$50k price range. 

Sad, but true, that there are real-world folks out there like that.