JSRAW, Btway, thanks to you, I came across this idea, ("a year ago, 4 cents could buy 606 satoshis, and it's a pity that we don't use "sats" as a standard, continue to say 0.01 bitcoin, etc") In case there are lightning network fans here, here's a quick LightningATM tutorial written by @21. Overall a very cool concept ... thanks, man! it is time for a well established Layer2 solution because on-chain fees are high and to expensive for txs < 100 USD. https://ycharts.com/indicators/bitcoin_average_transaction_feeOf course, if everyone just switched over to native segwit addresses they could save 50% on their fees. This would also have the added benefit of allowing more transactions per block too. Anyone out there who complains of fees and are still using legacy addresses deserve it. old cold stores with legacy addresses will exist nearly the whole time of the Bitcoin life-cycle. even with just the Segwit addresses a Layer2 solution is needed because sometime in the future the fees should replace the block reward nearly completely. (did you not understand the economical base concept of Bitcoin  ) either Bitcoin will be become super expensive or at least one reliable Layer2 solution will be established. BTW, it was Satoshi's intention too to get Bitcoin layer2 ready. Of course I understand that, it would just help in the meantime is all I mean. Layer 2 is coming and it is a good thing, but obviously still needs more time. How is accounting done off-chain ? Pay another blockchain doin such ? nah, only on-chain is the way to go - that's real bitcoin So we're in agreement then, you are a retard. |
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JSRAW, Btway, thanks to you, I came across this idea, ("a year ago, 4 cents could buy 606 satoshis, and it's a pity that we don't use "sats" as a standard, continue to say 0.01 bitcoin, etc") In case there are lightning network fans here, here's a quick LightningATM tutorial written by @21. Overall a very cool concept ... thanks, man! it is time for a well established Layer2 solution because on-chain fees are high and to expensive for txs < 100 USD. https://ycharts.com/indicators/bitcoin_average_transaction_feeOf course, if everyone just switched over to native segwit addresses they could save 50% on their fees. This would also have the added benefit of allowing more transactions per block too. Anyone out there who complains of fees and are still using legacy addresses deserve it. Segwit intentionally kills accountability - so check for what asking the big guys having audits Do you mind explaining your comment a bit clearer? dropping signatures - dropping the sign of a contract / payment - drops accounting And practically speaking why do you think that matters? |
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JSRAW, Btway, thanks to you, I came across this idea, ("a year ago, 4 cents could buy 606 satoshis, and it's a pity that we don't use "sats" as a standard, continue to say 0.01 bitcoin, etc") In case there are lightning network fans here, here's a quick LightningATM tutorial written by @21. Overall a very cool concept ... thanks, man! it is time for a well established Layer2 solution because on-chain fees are high and to expensive for txs < 100 USD. https://ycharts.com/indicators/bitcoin_average_transaction_feeOf course, if everyone just switched over to native segwit addresses they could save 50% on their fees. This would also have the added benefit of allowing more transactions per block too. Anyone out there who complains of fees and are still using legacy addresses deserve it. old cold stores with legacy addresses will exist nearly the whole time of the Bitcoin life-cycle. even with just the Segwit addresses a Layer2 solution is needed because sometime in the future the fees should replace the block reward nearly completely. (did you not understand the economical base concept of Bitcoin ) either Bitcoin will be become super expensive or at least one reliable Layer2 solution will be established. BTW, it was Satoshi's intention too to get Bitcoin layer2 ready. Of course I understand that, it would just help in the meantime is all I mean. Layer 2 is coming and it is a good thing, but obviously still needs more time. |
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JSRAW, Btway, thanks to you, I came across this idea, ("a year ago, 4 cents could buy 606 satoshis, and it's a pity that we don't use "sats" as a standard, continue to say 0.01 bitcoin, etc") In case there are lightning network fans here, here's a quick LightningATM tutorial written by @21. Overall a very cool concept ... thanks, man! it is time for a well established Layer2 solution because on-chain fees are high and to expensive for txs < 100 USD. https://ycharts.com/indicators/bitcoin_average_transaction_feeOf course, if everyone just switched over to native segwit addresses they could save 50% on their fees. This would also have the added benefit of allowing more transactions per block too. Anyone out there who complains of fees and are still using legacy addresses deserve it. Segwit intentionally kills accountability - so check for what asking the big guys having audits Do you mind explaining your comment a bit clearer? |
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JSRAW, Btway, thanks to you, I came across this idea, ("a year ago, 4 cents could buy 606 satoshis, and it's a pity that we don't use "sats" as a standard, continue to say 0.01 bitcoin, etc") In case there are lightning network fans here, here's a quick LightningATM tutorial written by @21. Overall a very cool concept ... thanks, man! it is time for a well established Layer2 solution because on-chain fees are high and to expensive for txs < 100 USD. https://ycharts.com/indicators/bitcoin_average_transaction_feeOf course, if everyone just switched over to native segwit addresses they could save 50% on their fees. This would also have the added benefit of allowing more transactions per block too. Anyone out there who complains of fees and are still using legacy addresses deserve it. |
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A lot of talk about tulips here I see. Of course what a lot of people don't know is that the Tulip story is not what they think it is. See the following paper (unfortuantly locked, scihub might have a free version). https://link.springer.com/article/10.1007/s11127-006-9074-4Abstract:
The famous tulipmania, which saw the reported prices of several breeds of tulip bulbs rise to above the value of a furnished luxury house in 17th century Amsterdam, was an artifact created by an implicit conversion of ordinary futures contracts into option contracts in an imperfectly successful attempt by Dutch futures buyers and public officials to bail themselves out of previously incurred speculative losses in the impressively price-efficient, fundamentally driven, market for Dutch tulip contracts. There was thus nothing maniacal about prices in this period. Despite outward appearances, the tulipmania was not a bubble because bubbles require the existence of mutually-agreed-upon prices that exceed fundamental values. The “tulipmania” was simply a period during which the prices in futures contracts had been legally, albeit temporarily, converted into options exercise prices. |
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It should be possible to get a rough idea of how many of the trades on the book "disappear" before getting bought/sold. I think that would be pretty informative. I don't know if there are places that calculate this already? I don't believe that most (bigger) walls are actually honest. Why would anybody trade that way?
On our local exchange here in AU, there is a constant wall on both sides that is almost identical, that is constantly moving. When i query them about it, they said it was someone who was marking the market... What does that even mean? Mark to market is an accounting treatment to revalue assets in accordance With their fair market value. It has nothing to do with order books. Must mean make a market. As in they are market makers, still bullshit probably. |
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This is very interesting. Someone (prolly El Dude?) posted here some news about some prominent hodler and bitcoin believer selling at $48-49k. What is happening now? Old boys losing faith? Of course we risk a lot. I haven't sold anything since 2011. In case the price goes down now, I am screwed: I'm sentenced to another 4 years (at least) without Lambos, hookers & blow.  Still I don't consider selling. Why? The cycle is not yet over. We barely touched all the previous blowoff tops and went down immediately which is not something we can witness at $50k mark. So we're probably waiting for a violent multi $10k pump followed by immediate heavy dump? I dunno but I have a gut feeling we (royal we of course) shouldn't sell now.  OK. I'm going to say it, and many may disagree with me. Despite all the fiat hate everyone here in WO may be vehemently expressing, I believe that many hardcore HoDLers are actually fiat supporters deep down. They won't openly say it, because they'll get a barrage of posts condemning them, but their actions show it clearly. Comments like "when to sell?", "I'll sell XX% of my stash", "I'm liquidating for my retirement". For some of them, Bitcoin has always been just a means to increase their fiat stash. They don't give a rat's ass about the tech, principles and ideology behind Bitcoin, as long as their wallets end up fat and full of fiat. That is their only goal. Now, I'm not saying that the above mentality is unjustifiable. There's a reason for it. We were all born into a fiat monetary system, and it is extremely difficult, if not impossible, to completely cleanse our minds from decades of indoctrination. We (still) live in a fiat world. Lambos (and now Teslas) may be Bitcoin-friendly, but not blow, and certainly not hookers, so there's a problem there... Personally, I see fiat as a transient state of wealth, where it is immediately spent to buy the things I want, such as a house, land, equipment, services, etc. I would not liquidate 20 BTC to get $1M just to keep in a bank or fund "for the future". I'd rather keep it in BTC and slowly use (convert into fiat only if such conversion is necessary, and only for the amount required), in order to immediately obtain what I need. I hope there will be a time when I can directly pay for all goods and services with Bitcoin. I'll close with my usual rainbow footers: Sell only when you must. Buy when you can. Always aim to HoDL. You may be right, but I think you are being a little rough on some folk here. I'm sure most here will do only what you allude to in your second paragraph. where it is immediately spent to buy the things I want, such as a house, land, equipment, services, etc. For myself, I don't have a house, I indend to buy one this year and while I would love to pay for it in BTC that just isn't possible right now so I will have to sell a small portion to cover this needed expense. Now, while I could technically just max out on a loan, I'm actually fairly risk averse and having a house without having to worry about my savings decreasing in value is a hell of a load off my shoulders. I imagine/hope most here who intend to sell some of there stash will be doing it for those reasons, and not to have a pot of quickly devaluing fiat just sitting there. I've said this before several times, the best use for your bitcoin is to generate an income from it (convert the income to dollars if need be). Use this income to retire on, the benefit is that you get to keep your bitcoin and not pay any capital gains tax. By keeping your bitcoin you can gain generational wealth, and the destruction of fiat will never be an issue to you. |
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His username is quite ironic. Mind "rust", rust meaning peace in Dutch, none of the Dutch/Belgian WO's ever noticed this? One could say his mind is far from peace On a side note: Hodling during a bearmarket is tough, hodling and not selling it all during a bull market is even tougher lol I don't know, I'm finding it very hard to sell even a little bit. When I first invested in 2013 I thought to myself I'll sell some at 40k to fund everything I need. Well, I ain't fucking selling. I'm thinking closer to 100k is when I'll sell now and that will only be a small percentage. I'll be generating an income off the rest, capital gains taxes can go to hell, income taxes on a yield from my BTC, I can handle that. |
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In some sense, some of us likely feel bad for him (referring to Mindrust).. because it is difficult to know how to get such thoughts to stop.. it is a kind of post hoc rationalizing after having had sold too many coins too soon (referring to bitcoin). If fuzzes up and fucks up the thinking of maybe even the smartest of peeps - kind of demonstrating that we don't want to end up going down that road, because it likely becomes almost impossible to come back.. including the thoughts that you always want to try to stay ahead of the game a bit - but continuing to be overinvested in BTC rather than underinvested, even if a large amount of suffering might have to take place during longer term BTC price corrections that do happen from time to time and we have no reason to believe that they are not going to happen in the future, even though some peeps talk about supercycles that are suggesting that such longer and deeper corrections might not happen from here on out (that is if we enter into a supercycle). I think mindrust's current behaviour comes from the natural protective reaction of the human mind. It protects the human from going insane, by creating (and amplifying) reasons to justify one's wrong decisions. I wouldn't be surprised to see mindrust behaving 10x like r0ach, shilling PMs and supporting 5G/alien/COVID-19 conspiracy theories. Yeah this is indeed a natural response, I'm seeing the same thing in an acquaintance of mine. Similar, to mindrust, he made a decision on something that he thought was a certainty and it went bad. Lost a lot of money, then turned to various conspiracy theories which supported his initial decision, and which also suggest that his loss will actually turn out to be an amazing win. It's depressing to see actually. Psychology is a very interesting, yet depressing topic.
Sometimes you just gotta admit to yourself you fucked up, that way you can move on. I don't think he's anywhere near that yet
I believe that's the secret to having a happy and successful life. Well, that and Bitcoin. |
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I've only partly found it though, I can't see in options tables with strike prices etc, does anyone know where they are?
Are you talking about the order book? Well, you won't find it like that on FTX. FTX Options don't work on orderbook model, instead they work on 'Request for Quote' (RFQ) model. So, you will see something like the following image on Options page:  You can click 'Request Quote' and place your order. You can manually customize your order - Put/Call, Strike Price, Expiry Date, Limit Price and Buy/Sell. Then, your request will go under 'My Request' section and within few seconds, you will start seeing quotes from the other users under 'Best Quote (per contract)' column. It's up to you if you want to accept those quotes or let them go. For example, If I place request for the Buy Call Option of 1 BTC at the strike price of $48K for tomorrow midnight, I will start receiving quotes after few seconds under 'My Request' section. Suppose, I get the quote of $400. I can accept that and have to pay $400 for the option upfront. Then, if bitcoin goes above $48,400 at the midnight tomorrow, I will end up in profit otherwise I will bear the loss (could be between $1-400). Alternatively, you can make quotes for the requests others have placed under 'All Requests' section if you see any. But note- you will play opposite party as to 'Option Type', consider that while making quote. Thanks webtricks, that is exactly the information I'm after. A very different system to anything I've seen before but I'll give it a shot and see how it goes. Thanks again. |
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Does anyone know if FTX has BTC options? some websites say they do but I can't see anything in their platform EDIT: I think I found it under what is the stupidist designed menu I have seen. That menu being the 4 squares next to the FTX log in the top left corner. That is some shitty UX design right there, a hamburger menu would have even been better, and they are kind of shit too. I've only partly found it though, I can't see in options tables with strike prices etc, does anyone know where they are? |
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I hope that you are not suffering too much, LFC... with that cold iron fist of yours.
There surely is some value with delayed gratification.. and yeah, there could be a bit of a dilemma for some HODLers regarding the extent to which a wee bit of shaving off could be prudent - and yeah, we don't really feel like a blow off top or anything like that, even though many of us had been thinking that $40k or $50k-ish would be good areas to sell decent amounts of stash.. but many of us are not feeling so inclined in these here days... for some reason.. not feeling like the cycle has run.. and it seems still early.. we are like in the early to mid - 2017s rather than the late 2017s.. so it seems.. and gosh, could we be in the early 2013s so deserving two blow off tops in this cycle with the second blow off top obviously playing out as a 5 to 10x BIGGER one.. ?
I am not going to say.. even though I have some theories that are floating in the decent odds categorizations... feelings... oh oh oh .. feelings...
I finally have a sell strategy, after all these years. I set up a spreadsheet with a sell ladder. I’m not going to go too deep into it but my sells start about $10,000 north from the current price & continue every $5,000 (roughly) until we hit $250,000. Nothing goes as you plan it perfectly but at least I have a starting point now. I’d like to continue HODLING at least 25% of my stash long term. Let’s see how this cycle plays out  I'm still not sure whether I'll start selling at $50k or should I move my sell orders to $75-80 area. So far I'm ready to sell at $50k but it won't last long. I guess I will wait until the end of the month or so. Institutions must try harder to get my coins, dammit! I also think I will keep some 25%-50% of my stash at least for one more cycle. I will NEVER sell my entire stash and become a nocoiner! selling BTC for what? Gold? OK (IMO) if you are a bit over invested in BTC. Silver? OK, for our U.S. friends because most of them think silver cannot be confiscated. FIAT? Not OK (IMO) just in case you really need some to buy other things. Why not selling for FIAT? Why do all the stocks, real estate, land, commodities etc. increase in price? It's not because their value is increasing all the time. But the value of FIAT is decreasing all the time therefore the price of the others in FIAT is increasing. think about it. Yep, whatever reason you sell make sure it is not to hold fiat. A home, diversification, income producing asset so you can quit your job, yes by all means. But, if you hold more than a year worth of expenses in fiat you are doing the increase in your generational wealth thingy completely wrong. |
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Possible ATH in the weekend.
Back to the trend.
I so hope you're right. I have a small voice in the back of my head reminding me of the 2018 crash disappointment. Truth is, yes, friends1980 is shittin' his pants atm and he won't be 100% assured before having seen that new ATH burnt on the charts.... Yes, in Jan, 2018 the bitcoin price try to reach all time high but failed and then it was start of the bear market. I hope we are able to cross ATH ($42,000) now. Told myself yesterday I'm going to buy more if 40K is passed. Time to open the wallet...
Wait for 42,000$ to be on the safe side. Seriously people, man the fuck up. This shit is not Jan 2018 its like early 2017. Yeah buy at 42k rather than 40k, are you insane. Why buy when its more expensive? maybe he should wait till 1 million just to be sure, because this is where the price is going this decade since the monetary system is fundamentally cactus and there is no will to fix it unless we have a revolution. |
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Just hit 40k again, time shut up about shitcoins and focus on the king.
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Yes plenty left to run in this one yet. |
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Fdroid, if you are doing that...
Thanks man, yeah been using that but alot of apps missing like Bravo. Aurora Store is what you are looking for. Download all the google play apps without a google account. I use LineageOS with microg. The microg part is important if you want a lot of those google play apps to actually work on your phone. I installed Aurora Store but it errors and is empty, I read somewhere that google is blocking it. Is there a work around? I didn't want to get into jail breaking and changing the OS if I can get away with not going that route. I truly hate these electronic tracking devices and only take one for emergencies. Watching microg videos right now. It's still working for me but sometimes it does have issues. These issues can usually be resolved by going into the hamburger menu>settings>Network>then toggle Enable custom tokenizer (either off or on). Another thing you can use is Racoon APK downloader https://raccoon.onyxbits.de/ With this program you cn sign into a google account then download the app apks to your computer. You can then move them to your phone and run them. This is very useful if you have a google acccount that you have used to buy apps with. See, Aurora can't install the paid apps, Racoon can, but Racoon can also install free apps. If your having trouble with the phone it might be worth starting from the beginning again. I have had basically zero issues with my install and it works wonderful as a daily driver. Battery is fantastic. FYI I did the following Used the official lineage Bootloader from https://lineageos.org/Used the ROM for my phone from this site https://lineage.microg.org/ (microg is the replacement for gapps) Installed f-driod (might actually come with the ROM though can't remember) Installed Aurora Store (didn't work for me initially so I had to enable the custom tokenizer. I have since had to unenable it to get it working again) |
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Fdroid, if you are doing that...
Thanks man, yeah been using that but alot of apps missing like Bravo. Aurora Store is what you are looking for. Download all the google play apps without a google account. I use LineageOS with microg. The microg part is important if you want a lot of those google play apps to actually work on your phone. |
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Very off topic: I'm wondering if anyone here reads Greek and if so can they translate the paragraph in the top left of this image for me. I can throw you some merits for your efforts. I'm pretty sure it's instructions for the BASIC game below. The title of the game is 'The Ship', I think.  I can read it but no clue what it means.  You might want to check this with efialtis. edit: seems indeed that "to ploion" is a ship. The program is a very old game, for an Epson HX-20 Cryptotourist has kindly translated for me. |
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