Wall Observer

[8up]

Ladies and gents. Please fasten your seatbelts...

 

[ChartBuddy]

 

[ChartBuddy]

 

[adamstgbit]

Yes… Even though adjusting your allocation by 20% on short notice can be a relatively extreme measure

ya it was a little extreme... but it wasn't a rash decision, after carefully considering the possible outcomes to scaling, i felt there a good chance it would not go well...
Core might block any attempts at rising the block limit, and LN might be impractical, and throw in Altcoin ready and willing to "Go Big" rise limits make the hard choices. I am no longer confident bitcoin will always be #1.

hopefully, you were able to cover at least some of your earlier short in the past 48 hours. It seems fairly difficult to bet for anything below $410 – at least for any meaningful amount of time and absent any meaningful negative FUCD

I didnt... i saw like 1% profit but I passed... its not like my FUD has gone away, I'll need something more attractive then 1% profit to consider relocating.

yet I have my doubts about whether we will need to wait for the release of LN in order to get meaningful upward BTC price movement.

we'll need LN and much more to reach 3200$
... but if LN proves to be shitty we'll have a real big problem on our hands.

 

[ChartBuddy]

 

[ChartBuddy]

 

[ChartBuddy]

 

[JayJuanGee]

ya it was a little extreme... but it wasn't a rash decision, after carefully considering the possible outcomes to scaling, i felt there a good chance it would not go well...

Core might block any attempts at rising the block limit, and LN might be impractical, and throw in Altcoin ready and willing to "Go Big" rise limits make the hard choices. I am no longer confident bitcoin will always be #1.

We are each entitled to our opinion and our viewpoint regarding what bitcoin is or should be, and really, I am getting the sense that your presumption seems a bit off base, here.


There’s nothing even close to bitcoin,,, even in spite of some of the touted features of a variety of other coins… A lot of them brag about this or that or another thing that they were able to design into their protocol that will never be possible in bitcoin (for varying reasons), yet in the end, security is one of the most central factors of bitcoin, and bitcoin’s hashing power remains leagues above any other competitor – and in that sense, any coin that wants to have any sense of longevity or security has to somehow tie into bitcoin’s computing power…. Yeah, people say that can switch any time; however, the fact that bitcoin seems to be surviving this most recent attempt at an attack, signifies that bitcoin is not going to be easily changed (and that’s a feature rather than a bug)… we’ll see how it plays out in the coming months, but seg wit seems likely to be a good contribution, and whether an actual hard increase will be needed will be determined in the future….


It seems unrealistic to expect bitcoin to compete in any meaningful way with credit cards and other large scale millions of transactions a day systems within the next few years… even though there may be side systems such as lightning network that seem intended to accomplish such.

I didnt... i saw like 1% profit but I passed... its not like my FUD has gone away, I'll need something more attractive then 1% profit to consider relocating.

Well, that goes to show that your earlier decision to short was not spontaneous… because you had an opportunity to decrease some of your short exposure without taking any loss, and you chose to stick with your earlier bet.


Shorting in the $4(teens) seems to be a bit better than BJA shorting in the $370s… .. at least for now, it seems that you have some potential to recover and/or profit from such short. And, yeah, we know that nothing is really guaranteed in bitcoin and we tend to place our multiple bets on our view of probabilities.


Let me verify my current allocation… ….


O.k. In my bitcoin investment portfolio, currently, I’m at about 96% bitcoin and 4 % fiat….


And I don’t know. I suppose that I feel a little bit better at 95/5, yet there is frequently a kind of tension, and my allocation is going to be different depending on the extent to which my coins are in the red or profitable and also depending on whether the market had recently moved and whether I had been able to sufficiently reallocate.


I think, for example, if I had been more trading experientially prepared for the move from $250 to $502, I would have been more comfortable to dump more of my BTC, even up to 20% or even 30%... but instead, I recall that I dumped only a couple of percentage extra… I just wasn’t prepared because previously I had not been in the practice of selling any of my coins…


NOW, if we can a realistically comparable sort of move… possibly from $420 to mid $600s, I have a better plan in place… that I will hopefully be able to pull the trigger when the time comes, this time (but I still don’t plan on selling more than 10% of my coins, if such a sudden price rise were to occur in the near future, and some people would suggest that is dumb)……


But, yeah, in the end, currently, having only 4% of my BTC trading holdings in fiat, does not give me much buying opportunity if downward price movement were to occur in the near future… then have to ride it out, again (an extension of the situation of the nearly past 2.5 years).

we'll need LN and much more to reach 3200$

... but if LN proves to be shitty we'll have a real big problem on our hands.

I have no way of pretending to know what we would need in order to achieve $3,200, but my investment in bitcoin never really depended on expectation of a get rich quick type scenario. I don’t invest in bitcoin with such expectation, but I would consider such an occurrence to be a sort of icing on the cake.


I really believe that it is not in the best interest of bitcoin to build to increase the block limit (like proposed in XT and classic).. that seems to be unnecessary and really asking for trouble.. especially if there are additional attempts at changing governance, too.


There is a possibility, like you said, that seg wit will not play out as well as expected, and in that regard, I expect that there are going to be a quite a few fairly loud mouths denigrating seg wit and suggesting that it is not all that it was meant to be.. and at this point, I am kind of expecting that you may be one of those voices who is going to assert over and over and over that seg wit is not living up to your expectations… Whether you will be talking your book or not, will be difficult to determine.


Anyhow, those kinds of continued outcries could provide sufficient FUCD in order to keep prices down, and or to bring prices down… maybe partly depending on whether upward momentum is achieved in the interim.


I may tweak my own portfolio a little bit based on some of the spreading of FUCD.. but likely no more than 10% or so.. depending on how the situation plays out… and if a price drop becomes obvious.

 

[8up]

@JayJuanGee please come to the point in your posts. Most of the time I see them, I feel like facing a wall of text. I'd like to read up on your opinion and value the time you put into those posts. However I also value my time and started to skip your posts. Just wanted to let you know.

 

[ChartBuddy]

 

[Ivanhoe]

Not long anymore until we'll see some action.

 

[ChartBuddy]

 

[adamstgbit]

we'll we have recovered from the fall quite nicely
if we see >425 in the next 24 hours...
HOLD ONTO YOUR BUTTS!

 

[ChartBuddy]

 

[JimboToronto]

Good morning Bitcoinland. Still waiting for the train.

Patience is a virtue.

 

[67 speedqueen]

Red lens hasta be on the left eye

Lookin' sharp!
[doublepost=1460388160][/doublepost]

Good morning Bitcoinland. Still waiting for the train.

Patience is a virtue.

 

[JayJuanGee]

@JayJuanGee please come to the point in your posts. Most of the time I see them, I feel like facing a wall of text. I'd like to read up on your opinion and value the time you put into those posts. However I also value my time and started to skip your posts. Just wanted to let you know.

Yes. Skip me if you like. I'm not sure why it should matter to me? You seem to suggest that I should have some kind of goal to increase my post readership, and in reality why the fuck should I care?

Each of us engage in personal decisions and I make my written points / posts solely to the extent that I personally deem words necessary within my own time constraints and judgement.

 

[ChartBuddy]

 

[8up]

This is pure MAGIC. Look at this beauty. The 6 month and 30 month flag perfectly aligning... And a nice safety net in case of withdrawal of affection. I don't mind which way this babe breaks out. You just have to love her.

 

[ChartBuddy]