All posts made by slowlyslowly in Bitcointalk.org's Wall Observer thread
1.
Post 19220665 (copy this link) (by slowlyslowly) (scraped on 2020-04-04_Sat_15.11h):
what a bloodbath
i'm setting buys at ~1700
A bit high I think. Remember after big bubbles we have gone from $30 to $2 and willy gave us $1000 to $250.
So if history repeats and the balloon popped at $2600 then you we should be headed for about $650.
However even at $1700 if it ends up at $650 I think you will be ok ie the price rise to that level again within a year of a $650 type bottom.
2.
Post 19221508 (copy this link) (by slowlyslowly) (scraped on 2020-04-04_Sat_15.11h):
has anybody concluded why alts and btc do not behave in inverse correlation? e.g. btc dives, alts dive more!
I assume lots of new money has come in just to make money as everything goes up ie they buy lots of things because its rising not because of what it is.
so when bitcoin goes down they all go down as they get out of all back to cash rather to alts or if in alts to bitcoin ie they are not trading on the relative merits of two choices eg bitcoin or etherum.
3.
Post 19547848 (copy this link) (by slowlyslowly) (scraped on 2020-04-04_Sat_15.12h):
Yep. It's those damned masons.
Nobody knows how to lay the stones any more... except maybe Margaret Trudeau.
Oops, I'm showing my age again.
I get it too so I must be around your age as well.
I still hate all those rock stars in that period for monopolising all the women and all the drugs. They were like a loose knit cartel. Perhaps I should let that hate go but I am not a quitter.
If bitcoin had been around then just one big group simply by mentioning they were into it would have made it take off with the kids and it would be well established now. Think the Beatles and Eastern religion.
Our current problem is that the kids are not becoming adopters - its the kids that have got into uber and airbnb and we need them into bitcoin. Not so that they boost the price but so that it becomes the thing to use.
4.
Post 21754610 (copy this link) (by slowlyslowly) (scraped on 2020-04-04_Sat_15.20h):
PANTS RECEIVED
09/12 gembitz
09/12 cAPSLOCK
09/12 jojo69
09/12 RealMachasm
09/12 Lauda
09/12 d_eddie
09/12 xhomerx10
*Now accepting short pants, track pants and trousers.
over the years my girth has increased so i have several pants that no longer fit. But I cannot give them to you as I need to cling to the belief that one day i might start exercising and fit them again. So its a no from me. I have a few lone socks I would flick your way if you were to expand to requests for apparel.
5.
Post 21826596 (copy this link) (by slowlyslowly) (scraped on 2020-04-04_Sat_15.20h):
The lack of fear here makes me think this has further to go down. I am still operating under the assumption that we will see another upleg after this, but the sentiment is starting to make me doubt. But maybe this forum is too "specialized" to get an accurate reading of the sentiment of the new money.
EDIT: ^ thanks ghandi for the above post giving me some hope
yes it is very hard to guess but I would say most on this thread have got their bitcoin for an average of less than $1000. So it dropping several thousand of a $5000 high will not effect them in the least as they are longterm slow buyers then hodl. So they do not reflect those newbies who rushed in as it went above say $3000 for a quick buck. Those people need to sell up and get again asap or they are going to talk a huge bath.
6.
Post 31820242 (copy this link) (by slowlyslowly) (scraped on 2020-04-04_Sat_15.47h):
How does the coinbase index fund actually work? For instance if you invest say $10k, does coinbase purchase and hold the various cryptos on their books to match the $10k investment?
yes, it seems this way (at about 62:27:7:4 for btc:eth:bch:ltc ratio)
check am.coinbase.com
the weak point is rebalancing only once a year and withdrawing only once a quarter.
where are the Winklevii up to with their fund? Still awaiting SEC approvals?
7.
Post 31822732 (copy this link) (by slowlyslowly) (scraped on 2020-04-04_Sat_15.47h):
where are the Winklevii up to with their fund? Still awaiting SEC approvals?
They are appealing a negative decision.
It actually sucks for them as they initially submitted the application in 2013.
I was certain that they would get it approved in 2014 or 2015, hence did not invest any $ in GBTC (in IRA).
Oh, well.
Personally, I think that they were treated unfairly.
[/quote]
yes as i recall they were backing everything with their own bitcoins ie it was offering far more 'protection" for people investing in it than lots of other things introduced since. The authorities seemed to keep turning them done on the grounds that the bitcoin world was not as "settled" as fiat which was an impossible test to pass.
8.
Post 32398935 (copy this link) (by slowlyslowly) (scraped on 2020-04-04_Sat_15.48h):
the Sumerians invented writing. and the same folks in the same area and the same time also invented money. both inventions together made it possible for the first time in history that lots of people -that did not know each other personally- were able to cooperate to form large kingdoms, armies, large scale tax collection, religions, etc. before the Sumerians had invented money and letters/writing people only cooperated with the 100-150 people they personally knew.
that writing was essential for the development of culture is agreed upon, but money was/is of the same importance. the invention of a truly digital, decentralized global, peer2peer money that is bitcoin represents a cultural tectonic shift as heavy as the invention of printing books.
now this comes with a lot of responsibility for those who were early in recognizing this game changer. while bitcoin is a grand cultural enhancer that aims to change the world, all altcoins/ICO´s are purely made because the people behind it wanted to make a quick buck. if their creators were responsible characters they would try to get their idea into bitcoin (or btc sidechain) and not try to scam money out of newbs.
speaking of responsibility: it is a fact that bitcointalk is by far the most important bitcoin forum. and the WO-thread is the most important thread. ladies and gentlemen, you are helping to create some new crypto-gospel with every post you put in here. as long as you keep bashing shitcoins as merciless as possible and howl to the moonTM you are right on track.
yes i follow quite a few things on various topics in various places and WO is I think unique in being such a long standing forum and with having such well thought through comments by people. And while people slag off one another at times (and its entertaining) essentially by reading it regularly you are pretty well informed about threats etc to bitcoin. It seems to have struck the right mix of expert/technical posters and those with various angles to push. It would be nice if the time we spend bashing bitcoins was treated as an expense for tax purposes as we could all then be rich even in bitcoins bear periods. But hey bitcoin will do that for us and fiat will soon be a lonely orphan we donate to occasionally out of pity
9.
Post 32706832 (copy this link) (by slowlyslowly) (scraped on 2020-04-04_Sat_15.49h):
Bitcoin is unfolding like the dotcom crash — just 15 times fasterEdit: Amazon crashed from a high of over $100, to a low of about $10 in 2000. 18 years later, they hit $1,578. If we apply the same recovery gain percentage to the recent bitcoin low of ~$6,000, and assume 15x recovery speed, we'd hit ~$946,000 in Apr. 2019. This is all based on questionable math and a clickbait article, but still fun to think about.
$946k per btc in about a year? if
that comes true I will buy a lambo for everyone that merits this post.
I am too new to have merits so in proportion can you give me the left hand wheel or one order lower the right to occasionally receive a picture of the inside of a glove box?
10.
Post 33959449 (copy this link) (by slowlyslowly) (scraped on 2020-04-04_Sat_15.51h):
The crypto community fkn cracks me up. It's like there's these people that want to give everything in the crypto space the "benefit of the doubt", just because. lol. The most naive community where nothing is every really proven guilty of fraud.
No Roger Ver is "really just a misunderstood good guy"
No CSW is "not a fraud"
No XRP is "really decentralized"
No Bitconnect is "not a scam"
No BCash is "the real Satoshi vision"
No ETH is "the next Bitcoin 2.0"
yes it amazes me too especially how that anyone is even giving CSW the time of day. yet he pr comments he has made seem to pop up every so often as though he is somehow believable/genuine
Lol
11.
Post 34965080 (copy this link) (by slowlyslowly) (scraped on 2020-04-04_Sat_15.52h):
Racism is illegal? Despite our problems, I'm often glad I live in America, where at least we have truly free speech.
Whoa there, little buddy - I think you've overshot the mark.
agree with jbreher that you are way out of line.
there is a very interesting "debate" going on in Australia at the moment where a famous sports player has said because of his religious beliefs he must speak out about homosexuals and how bad they are. Those with much saner minds have pushed back at what he has said including the top referee who is openly gay. You cannot be racist or anything else just on the grounds that you can say things because you have the right to free speech. What you say should have consequences. There is a famous saying that Kennedy used and I am sure he was a very patriotic President and a supporter of free speech in America. " The only thing necessary for the triumph of evil is that good men do nothing."
12.
Post 35205126 (copy this link) (by slowlyslowly) (scraped on 2020-04-04_Sat_15.53h):
I am bullish long term but c'mon guys (and gals) we all know that when the price goes up at the insane rate and to the heights it did recently to get near $20K we have along way to go before we get to the equivalent of the $250 turnaround mark that came after the $1000 high. I think the big players will let it sink to $5,000 or less before they really intervene and buy up seriously and then the little buyers follow them too. Anyone else agree or am I the only one that is not addicted to posting rocket pics the moment we have a blip. This addiction needs a medical name - perhaps launchefalitis defn - where the brain swells and logic diminishes as the result of a takeoff endorphins
13.
Post 39094059 (copy this link) (by slowlyslowly) (scraped on 2020-04-04_Sat_15.57h):
...
A bull market will not deter realr0ach. Just like a roach, he is tenacious. During a bull run, we are bound to hear the exact same arguments again and again. We will also hear much about Bitfinex painting the tape with Tethers. R0ach used to be a trader. However, I believe that he was turned off by the bullshit he perceived as happening with Bitfinex. When Bitfinex has "hacked" in late 2016, I think that was the final straw for him. Perhaps if Bitfinex would just go belly up, that would make R0ach go away. However, there are a lot more players in this space pulling some dubious shit, so I doubt it.
E.g. BitMEX that has been running its own for-profit trading subsidiary on its own platform...
Regarding realr0ach, most of you are getting to worked up over his posts.
Just grab a cold beverage of your choice and print out your own realr0ach Bingo card and follow
the thread
love the bingo card. I think though there is an untapped money making venture here - we convince the CIA, KGB etc that this forum is the ideal training product for assessing whether applicants are worth hiring.. They have to in a 30 min exam identify the true believers, from the shills etc (only from info in the thread not other sources). We can charge them heaps per time its used - these spies have huge budgets - and share it among ourselves. We would then hit them up again for more money (bitcoins) to mark the papers - though I suspect it would have to be marked by several and a consenus agreed. Who is with me? Theymos might need a sweetner to agree to it but we will be so rich even if we have to sling him an extra 10% it will not hurt. PS Is there a spy reading or spy bot scanning the forum that good give some feedback as to the likelihood of any uptake? I am off now to take my meds. Hope when I return there is a reply
14.
Post 39845585 (copy this link) (by slowlyslowly) (scraped on 2020-04-04_Sat_15.57h):
There will be blood!!
the only 2 stats worth anything are:
1. Every single person who bought their bitcoin and held it from 2009 - to about October 2017 is way ahead. Its not a long time period compared to say gold but it is still a very impressive stat
2. Bitcoin has jumped up and down by large daily percentages before - and will do so again. Nothing to see here. Move along.
15.
Post 39847036 (copy this link) (by slowlyslowly) (scraped on 2020-04-04_Sat_15.57h):
1. Every single person who bought their bitcoin and held it...is way ahead.
That's why it's easy to see the bottom isn't in. You have most people saying things like: "WTF my shitcoins are only worth enough to buy a new Corvette now instead of a Porsche". Once most of these people are all either breakeven or underwater, that's the bottom - or maybe new Hyundai at best.
No - the only people bitching about the price are the "new to bitcoin" greedy buyers that that jumped in when the price went from $5,000 - $19,000 in a flash. If they sell out who cares . The bottom may be about $5,000 based on previous big drops which will be fine and it will rise from there. Long term holders have seen these "new entrants" come and go before. A new batch will enter when we next go up exponentially. These rises and falls give the news media something to say but matters very little to 95%? of the bitcoin owners
16.
Post 43699030 (copy this link) (by slowlyslowly) (scraped on 2020-04-04_Sat_16.04h):
I want to experience the same thing you all did back in the day.
My wish is about to become real. I am so excited. $3k incoming.
Are you excited too guys? Are you?
Soon I'll be able to complete my "5btc party" ticket.
you are trolling us.
Even you realize, still, that $3k is not likely to happen without some very, very, very powerful FUD spreading... Maybe another "hack" of Bitfinex or Binance or some other BIG news could push us in that extreme of a direction...
I am not so sure. Bitcoin has had massive drops in percentage terms after we have skyrocketed before. I think a figure of $3,000 is quite possible without some a new bad news event or lots of FUDding. Does anyone really know why we stopped at about $6,000 on the initial rundown? if it was whales holding up the price they may do it again at a lower figure next time?
But I am overall very bullish. Gosh we were at about $3,000 only about a year ago and at the point it was at an 'all time high". Every bitcoin bought in the years before that even if it goes to $3,000 is a great purchase. And in a few years we will be laughing at how low $19,000 was just like we laugh now at the $31 peak or the $1000 peak. Just slowly buy and hold - we are in fine shape - bitcoin has seen off everything people have thrown at it and the basic reasons for owning remain the same as 2009 so more new comers will buy in as they get told about the benefits. Time is our friend.
17.
Post 43800602 (copy this link) (by slowlyslowly) (scraped on 2020-04-04_Sat_16.04h):
This chart seems to suggest the bottom will be reached (around 70% lower from here = $1500) in mid 2019. That would not be good news.
I am inclined to agree with the timing, but I think (hope!) the price will not get below $2500
Can you explain to me how you get to that figure from the chart ? I am not doubting you just don't see it .
18.
Post 44098520 (copy this link) (by slowlyslowly) (scraped on 2020-04-04_Sat_16.04h):
Tick tick tick tick
Yes I am loving the hammering bitcoin cash is taking to.
I think the figures that shows it best is that when it started it was about 20%? the price of a bitcoin and even in the bubble everything was in a few months ago it did not go above figure. Now it is less than 10%. People (well me at least) assign significance to various levels. Anything below 10% to something else is a pimple on a bum, a fly in its last tired circle of death.....Am I being too harsh?
19.
Post 45255856 (copy this link) (by slowlyslowly) (scraped on 2020-04-04_Sat_16.06h):
Alts bleeding like hell
yes and yet with bitcoin the drop to date from the banksters announcement is still within our recent "natural" volatility rate eg we were at $6,800 just back on 30 August and at $6250 on the 20th. To me that says we are not all that fussed what they do or what they do not do. That is very bullish long term.
20.
Post 46634524 (copy this link) (by slowlyslowly) (scraped on 2020-04-04_Sat_16.09h):
I know that it's McLaren 570S
GoodThe BFX blog post does nothing to address concerns they are running a fractional reserve. Along with every other exchange out there.
Well, if they are going to run a stablecoin that claims to be backed by fiat rather than a p2p community(like most cyptocurrencies), they need to be more transparent. Oh well, I am an American; so, I really can't use them ATM. (However, I do use other exchanges that use Tether, so could still be affected if something is wrong.) My holdings with them are dust that I left when I made my exit after their 2016 hack.
examples like this come up every year or so and it is why the SEC is not going to approve an ETF for a very, very long time. Thegood thing though is that this does not effect bitcoin one little bit other than make adoption slower by potential new people nervous about crypto. But the banks in Australia at least (and New Zealand since they are the big banks their too) are pretty good at screwing the people over. The interim report by the Royal Commission into the banks says about why the banking scandals happened that “Too often, the answer seems to be greed – the pursuit of short term profit at the expense of basic standards of honesty.” That has to be one of the best statements ever about why bitcoin is needed - it gives people a choice and also control over what happens to them
21.
Post 48228042 (copy this link) (by slowlyslowly) (scraped on 2020-04-04_Sat_16.15h):
No one also thinks this might spell months and months of bad news? We all now it's true, tethers printed out of thin air, propping up all kinds of prices. Tether and Bitfinex finally going belly up will cause some waves. It's a whale after all.
Crash it with the same Korea FUD
It's FUD? Genuine question.
To me it does not matter really if it is fud OR NOT. Just like when mt gox was around and everything went up to $1,000. its all very short term and essentially irrelevant.
The current price is about $4,000 and we were at it only last year and even if it goes to $2,000 again we were there only last year. In short every bitcoin purchased up to say the end of 2016 is in good heart. Bitcoin has shown it occasionally sky rockets and occasionally drops (of the order of 90%) but people ( and i assume that includes most of those on this thread) that have slowly bought over several years are fine. newbies should just start buying small amounts now and carry on for a few years and they will be ok too.
22.
Post 48408418 (copy this link) (by slowlyslowly) (scraped on 2020-04-04_Sat_16.17h):
I need some help guys.
I feel like I need a gimmick to differentiate my brand from the other WO merit front-runners.
Mic has the contests, Homer has the hat thing, Bob has his whole awesome gayblackcowboy persona, LotV8s has the no sleep instant news aggregation nailed down...
I just feel like I need a hook to continue to compete at this level, any ideas?
the extreme short powerful answers man...... that all yours, don't make more than 1 line text
Considering how most of us on this thread believe in bitcoin and in that sense decentralisation, assigning people (eg Mic has contests) "ownership/control to some activity seems to be the "Devils Work" - suggest you rebrand as Satan - for which you could get a hat from Homer, a contest From Mic as to your level of deviousness etc. Sort of scooping the Grand Prize and over topping everyone. Be quick though - others here might grab this idea and run with it.
23.
Post 48567377 (copy this link) (by slowlyslowly) (scraped on 2020-04-04_Sat_16.20h):
I wasn't around in 2011. Can you tell us more about what it was like?
My brain is frazzled and running on caffeine. Here are some loosely organized thoughts:
I started GPU mining around May 2011. BTC bubbled to ~$32 somewhere thereabouts (June-July?) and then collapsed to ~$2. The bear market was swift and brutal.
There was practically no infrastructure or major investment, aside from early ASICs that would soon come online. Hell, Roger Ver's memorydealers.com was one of the few places you could even spend bitcoins. Mt. Gox was basically the only exchange, of course.
Home GPU miners like me were a major part of the ecosystem, and we were purged at this time, as decreasing prices and skyrocketing difficulty soon made mining unprofitable. There was a sort of loss of innocence as we were wiped out and large industrial mining farms took over.
The overall feeling was similar to other bear markets - agony, despair, etc. However, many of us took to heart the rumors of bitcoin's demise. It seemed likely that bitcoin would, at best, remain something of a hobby for cypherpunks. OTOH, the despair was different. It was more about the loss of a dream, and less about the loss of money. Since BTC was so cheap, most people only had like a few grand invested, at most. Unlike Dec. 2017-18 when even the shoeshine boy lost $100K+.
very good summary.
In terms of the current lower price I think of things this way. Back in say Feb 2016 the price was $1612. It was just 8% of the later ATH. Imagine if the ATH had happened some time before feb 2016 then we would have dropped some 92% at Feb 2016. Would we have been as "happy" at $1612 as we were in reality or crying doom. Transfer that to today and if we end up at $1612 or somewhere close just see it as a very flat period since feb 2016 (ie ignore the boom/bust bit). We 'survived' a long flat period at around $250 and did not think the world would end. Just HODL even at some very low figure - it will pull away at some point in the next few years and you can cash out with healthy profits if you do not want to go through yet another cycle though to date regularly and slowly buying and HODL has been very good to those that practice it. Even those that have been "caught" buying in old bubbles (eg $31 , $1000 ) as still quids in. It may take a few years but even buying at $20,000 in 2017 will seem a great deal.
24.
Post 48631072 (copy this link) (by slowlyslowly) (scraped on 2020-04-04_Sat_16.20h):
Every court including WO has to have a jester. Craig plays that role with his outrageous claims. He should be thanked (not ridiculed) for stepping up to the role. Go Craig baby.
25.
Post 48671924 (copy this link) (by slowlyslowly) (scraped on 2020-04-04_Sat_16.20h):
26.
Post 49272666 (copy this link) (by slowlyslowly) (scraped on 2020-04-04_Sat_16.26h):
I'm new to this thread and I plan to stay to know your opinion about the BTC movement and possible future movements.
Based on the
https://coinmarketcap.com/currencies/bitcoin/, the closing price of BTC/USD was $3,706 and unfortunately only 7 of the total poll voters were right, I guess it says that majority still believe we will see big pump early this year.
no the polls are a sport in themselves - roughly the same % always go for the bottom price category and another but different % for the top price category. many of these peop[le i suspect pick the extremes just for fun no matter what they truly believe so the genuine number of true guesses is alot smaller say 60% of the total. Then the ranges in many categories in the middle are quite small comparing how the price drifts around so all in all I think 7 people getting it right is actually ok/normal and says nothing about the peoples vies on future moves (pump or otherwise). but then you already knew that ..............
27.
Post 49524946 (copy this link) (by slowlyslowly) (scraped on 2020-04-04_Sat_16.28h):
That is one massive duck and one seriously displaced toucan.
there is a pigeon too - its sort of a "where's wally" test. same as the TA charts people post - you need to look for where the tend line they draw will eventually cut some axis . tricky on some log charts. but makes the poster more able to claim "i told you so " status..........
28.
Post 49635813 (copy this link) (by slowlyslowly) (scraped on 2020-04-04_Sat_16.30h):
If you can survive an 80% bitcoin retracement, you can survive anything.
and a period of zero sum games
and some sideways boring actions
etc
BTC= the whole package, get through and get rewarded
I actually think that Bitcoins 'ability" to survive huge price drops but not to go to zero is one of its selling points. Usually volatility frightens people and I hope it does for those who are trying for quick profits and who we do not really need. But I think people that see the benefits of bitcoin and buy bitcoin for those benefits are not going to be put off buying especially since it has done these big drops before and survived and also because the drops have not arisen through the discovery of some fundamental problem with bitcoin itself. For new people asking me about bitcoin I show them one of the charts that show how holding has been so "lucrative" for people - so long as they do not need to sell in say the next 5 years and it stays moving up as it historically has done they will do be ok. if they are not putting more than 5% of their savings into bitcoin at the first buy-in to me at least is a chance worth taking. But it is still a relatively hard sell with some of the "technical" things they have to do ( wallets etc) that traditionally have always been done for them by a third party (eg setting up bank accounts etc)
29.
Post 50609081 (copy this link) (by slowlyslowly) (scraped on 2020-04-04_Sat_16.41h):
Elwar, the Philippines has some 7000 islands, so you can pretend to be some fisherman around here, but not separate from the state unless you set up in the middle of disputed waters (not a good idea as pirates or soldiers or whatever may attack). Plus the PH Central Bank and/or CEZA (Cagayan Economic Zone Authority?) gave licenses to at least 10 crypto exchanges here. (I don't know the other 8, I only use the 2 big ones.)
here in New Zealand you need approval to do anything in our EEZ (200 miles out). its usually fishing or oil drilling but a structure like this would need approval. You might well get approval in theory for the seasteading idea but the weather is very extreme as its right out in the Pacific and I doubt something so small like this would get approval under our health and safety grounds ie there is a good chance our navy would have to rescue you so would probably be told no.
Elwar you need to set up in places that are not effectively run by the Military and that also that they have some sort of judicial system where "natural justice' laws apply. I suggest you do not go back to Thailand. The New Zealand government like most governments cannot save its citizens and any assistance is minimal "The consulate will be able to assist with a list of lawyers that the person can contact, inform that person's next of kin, help arrange the transfer of funds, and attend court hearings as observers."
