The forum is the bitcoin forum and the Bitcoin Wall Observer thread is unique on the forum. It's the place to visit for bitcoin enthusiasts. - Signature is disabled in Wall Observer thread and posters can not get their post quota in WO. No advertisement in WO.
- People can complain about how merit is distributed in WO but please remember that even if you earn thousand of merit in WO but you simply earn it from shitposts and you are a shitposter, you will not get acceptances from managers of good campaigns. It makes sense to stop complaining about merit in WO.
Next, please read to know the history of Wall Observer thread: In the last link you posted, the poll option "Transfer ownership of the current thread to someone active, and trust them to enforce on-topicness." Won the most amount of votes, and well clearly the on topicness is not very high, so i dont get what kind of arguement you are trying to make here, if anything you just supported me You are not too good researching a subject, are you? Ok, will spoonfeed you: Keep reading the links provided. Maybe even a couple post beyond the OP... including the Theymos posts/clarifications. |
|
|
|
It was a conditional statement.
There's no need for any change. It's harmless.
id say the majority of merit being holed up and distributed within a single thread is pretty harmful  Most threads last a day or two at most. That thread has been going on for years, so your categorical statement does not make sense. the difference is that in WO if you are a member of the upper echelon you can get merited for posting a meme that has absolutely nothing to do with bitcoin! far from bitcoin price discussion dont you think This (yours not WO) thread would be completely worthless except for that "upper echelon" meme worthy statement. We had Wealthy Elite before, now we have Upper Echelon too. Thanks whinyboy. |
|
|
|
1. Make some of your biggest dreams come true. 2. Otherwise continue to live your life "normal"* *maybe to new living standards, though. I'd get some land, a stable and some horses, a small skatepark and independent energy source(s) for my home, maybe a foreign place for holiday and run/hide purposes. No supercar(s), no castles, no seasteads, no bling, no hos, no blow. Wait... a garden of weeden, maybe. yeah, i guess  I think one thing that sinks lottery winners is that it the total cost of ownership of any item far exceeds the mere purchase price. Big houses cost a lot of money over time for upkeep/maintenance, as do Lambos. Rich people budget for this, flash rich people buy big houses for their family members then start getting hit up for repairs, maintenance, etc. Or they buy a "business" that needs a lot of capital that you shovel in because.... well you bought it. Something to think about. All true. They are not used to manage money and many are easy prey for unscrupulous financial advisors, personal bankers, etc. Also, many decide to be excessively generous with other family members etc... or, as you say, decide to start/buy business without having the slightlest idea of how to manage one and, what is even worse, employing family members thus creating a totally unprofitable sink hole that they are afraid to stop on time. That way, and even without ever going into a lambos, hookers and coke spending spree, maybe even before substantially changing their life they find themselves bankrupt (sometimes without being aware of it until years after the fact). Preserving/increasing wealth is a job in itself that requires some skills and dedication, otherwise easy comes easy goes. That being said, I don't think the average OG Hodler would easily fall into above mistakes... |
|
|
|
but at the end of the day this is bitcoin and they can't ruin bitcoin because it is decentralized and nobody has power over bitcoin.
While they can't touch the core of it, they certainly can screw with the price and acceptance. Fractional reserve/ paper Bitcoin is the one everyone's waiting for. They've never not done it in any other market so I can't see any reason why they'd make this a special case. The difference between Bitcoin and everything else is that it's instantly verifiable and deliverable and anyone can store and trade it themselves. However it's pretty clear many people don't give a shit about that and Wall St will run with it. The problem with rehypothecation: Fidelity or another central counterparty can transparently keep 1M coins in a cold storage address, then pledge and re-pledge that collateral 2 or 3 times over. Nobody will be the wiser, but it will drastically inflate the number of "BTC" on the institutional market, suppressing spot prices through arbitrage. As long as very few traders are taking physical delivery at settlement (as is the case in most Wall Street commodity markets) this is a pretty handy way to keep a lid on prices. At the same time, everyone will point to that 1M coin cold storage address and think it's totally legitimate (in terms of volume and market liquidity) that Wall Street is leading the spot market. That is until one player decides to take advantage of the blockchain features and regularly publish a pseudoanonymous audit that serves to pinpoint exactly which of those cold wallet coins are yours. Something that it is technically very easy to implement. Yet no exchange has decided to do it... so maybe we are already having that rehypotecation/fractional reserve issue? |
|
|
|
@Toxic2040 Congrats on your more than deserved Legendary status. Keep those charts coming!  |
|
|
|
Getting back to one of the recent mindrust proclamations (i.e. "no way to spend wealth these days"), travel can be a lot of fun, and some ways to both spend wealth and to have some good times with it, and of course some of the travel options have been hampered in recent times, and maybe we are wishing that travel hamperings are merely temporary?... because it would not be right and proper if the only way that some of us could really travel is to have our own private planes... and even having private planes kind of travel (and that level of wealth) could get hampered too if some of the regular joes are not able to come out of our current economic baloney with a bit of meaning in life (not saying that hookers, lambos and blow cannot bring some meaning to some of us)... but there continue to be public infrastructure matters that seem to be necessary for any kind of real comfort in enjoying some of the luxuries of any wealth system...
Oh shit.. does that mean some of us might have to share some of our wealth or even invest? Fuck.
No way to spend wealth these days"? Even if that were somewhat true, because of coronathinggy I assume, one could always buy a fuck you all property to have all the freedom you want inside your OWN place and land and with your own rules. Bleh, there will always be ways to spend wealth. Maybe MORE so in difficult times. We are all worse off if an actual Armageddon situation were to strike, though. So there are certain infrastructure failures, supply chain failures and lumpen proletariate scenarios that would not be preferred... not that I am necessarily agreeing with mindrust - but there are potential outlier scenarios in which some of us might not be able to enjoy our accumulated wealth including when previous concepts of private property that had been accumulated prior to "awokening" of the masses are overthown. Make some sense.. except in ANY kind of situation, even if we are worse than before, we will always be better having some wealth than not having it... all other factors remaining equal. It is not that in an armageddon wealth (which can be in many kind of assets, including those more necessary for survival) is unimportant. Of course you can probably have better lifestyle in ideal conditions even if not wealthy than in shitty circumstances even if wealthy (I have always said that Kings of the past probably had worse food available than any regular person nowadays)... but being wealthy will always be better than not. I don't think theres much to argue about that simple point. If Mindrust really wrote that statement, it is wrong. |
|
|
|
Getting back to one of the recent mindrust proclamations (i.e. "no way to spend wealth these days"), travel can be a lot of fun, and some ways to both spend wealth and to have some good times with it, and of course some of the travel options have been hampered in recent times, and maybe we are wishing that travel hamperings are merely temporary?... because it would not be right and proper if the only way that some of us could really travel is to have our own private planes... and even having private planes kind of travel (and that level of wealth) could get hampered too if some of the regular joes are not able to come out of our current economic baloney with a bit of meaning in life (not saying that hookers, lambos and blow cannot bring some meaning to some of us)... but there continue to be public infrastructure matters that seem to be necessary for any kind of real comfort in enjoying some of the luxuries of any wealth system...
Oh shit.. does that mean some of us might have to share some of our wealth or even invest? Fuck.
No way to spend wealth these days"? Even if that were somewhat true, because of coronathinggy I assume, one could always buy a fuck you all property to have all the freedom you want inside your OWN place and land and with your own rules. Bleh, there will always be ways to spend wealth. Maybe MORE so in difficult times. |
|
|
|
Jeez... This thread keeps growing faster that I can cope with... I almost feel like I am slacking in my duties. Anyways: Congrats to both @JSRAW and @d_eddie @Vapourminer Sorry for you loss  |
|
|
|
That does not make any fucking sense from any logical point of view.
War on terror?It was the main argument to invade another country. As if just crashing a plane onto each tower and killing thousands was not enough excuse already? No, they really had to demolish the towers (on record timing, in the worst possible conditions and without no one knowing) for full effect. Yeah. Try harder when you search for a LOGICAL explanation. Evidence matters too. |
|
|
|
|
WTC towers did collapse because of the plane crashes, no matter if the direct cause was because of the structural damage/shock, the fire, any subsequent explosions or a combination of it all. It was NOT demolished by the government. That does not make any fucking sense from any logical point of view.
The Mandalay Bay mass shooting was also not a conspiracy of any sort.
That being said: Epstein did NOT kill himself.. or at least not without outside "help". But that doesn't mean EVERYTHING is a conspiracy.
Let's move on. Bitcoin is doing fine.
|
|
|
|
Yeah, except I seem to recall that's what all those shorters were saying last year when it reached $350, "it's way overvalued!" so I took their advice and sold all mine....look how that worked out.
A few rekt Tesla shorters out there now, no doubt.
The good thing about heavily shorted stocks is that if the shorters fail miserably they become the food for a ridiliculous huge pump. Bitcoin is also used to that. |
|
|
|
And nowadays you'd have to declare everything, and pay nothing if no gains have been made.
Yup, blockchain says the coins transferred from address A to address B at a certain time. Then it shows coins transferring from address B to an exchange deposit address in the same day (or same hour). No gains, no losses. And I had a boating accident, dropped my gold over the sea. Funny thing is that you are suppossed to declare any "boating accident" in which an economical loss have been incurred and you need to do it in the tax year it happened... at least in some countries, probably most. |
|
|
|
Exactly. Knowing the 12 words but not the order implies only ~29 bits of entropy between an attacker and your key.
How would an attacker ever gain access to the words but not the order? Some people write down their seed altering the order in a known way (by them) so that they can recover the seed easily but, in case someone gets access to the list, they would not be able... at least so easily. Even some people here (not gonna give names) mentioned doing so or a variant of it. It is now clear it is probably not the best of ideas anymore... |
|
|
|
A crash is possible if USA Russia and China all agree to out law it.
Russia is totally irrelevant. China have already sidelined themselves. The US outlawing it would be one of the weirdest moves of modern times. Agreed. The time for outright banning Bitcoin is long gone. Now that enough people and institutions are dealing with it a decision like that would need too much "justifications" to even consider it. |
|
|
|
Trigger Warning: Businesswire https://www.businesswire.com/news/home/20200811005331/en/MicroStrategy-Adopts-Bitcoin-Primary-Treasury-Reserve-AssetTYSONS CORNER, Va.--(BUSINESS WIRE)--MicroStrategy® Incorporated (Nasdaq: MSTR), the largest independent publicly-traded business intelligence company, today announced that it has purchased 21,454 bitcoins at an aggregate purchase price of $250 million, inclusive of fees and expenses. The purchase of Bitcoin cryptocurrency was made pursuant to the two-pronged capital allocation strategy previously announced by the company when it released its second quarter 2020 financial results on July 28, 2020.
The company addressed the first prong, which called for returning a portion of its excess cash to shareholders, when it announced today that it had launched a cash tender offer for up to $250 million of MicroStrategy’s class A common stock via a modified Dutch Auction offer. By acquiring 21,454 bitcoins, MicroStrategy addressed the other prong of its capital allocation strategy, which called for investing up to $250 million in one or more alternative investments or assets.
“Our investment in Bitcoin is part of our new capital allocation strategy, which seeks to maximize long-term value for our shareholders,” said Michael J. Saylor, CEO, MicroStrategy Incorporated. “This investment reflects our belief that Bitcoin, as the world’s most widely-adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash. Since its inception over a decade ago, Bitcoin has emerged as a significant addition to the global financial system, with characteristics that are useful to both individuals and institutions. MicroStrategy has recognized Bitcoin as a legitimate investment asset that can be superior to cash and accordingly has made Bitcoin the principal holding in its treasury reserve strategy.”Wow. A publicly traded company (of Business Intelligence for more wow factor) that decided to almost join it's destiny to that of Bitcoin. This could perfectly be the first of a long list doing the same... well, maybe not going full retard into Bitcoin like this one, but at least getting significantly exposed to it. Just imagine if the big ones (Apple, Google, Amazon, etc) started doing the same even if just with 1% of their net worth. This is fine. |
|
|
|
|
Feels good to check back price after an exhausting weekend and find it at $12K again. Maybe some not so distant day it won't be just "good" but euphoric while checking the price. I member that feeling. We all do.
|
|
|
|
It's surprising how many peeps whom I have considered to be quite intelligent (not only on this forum but also IRL) have fallen for conspiracy theories (COVID-19, 5G, Bill Gates mind control chips etc) With all the conspiracy theorist propaganda out there, it's easy for the weak-minded to be brainwashed. That said, don't be a conspiracy denier either. Of course the examples you listed are laughable but that doesn't mean that what Edward Snowden pointed out is also bullshit. Plandemic and chemtrail mind control may be imaginary but covid and PRISM are very real. Be neither conspiracy theorist nor conspiracy denier... i.e. use your brain. I remember this one time when a sixty-four year old white man just out of the blue decided he wanted to shoot up a bunch of randoms in Las Vegas. So he drove something like 100 miles from his house and went to a hotel that literally has spy cameras in every lobby, hallway, stairway, corridor, street, and back lot. Taking 5-6 separate trips up the elevators, he managed to drag 22+ heavy rifles of different makes and various calibers and a shitload of heavy ammo up to his penthouse suite completely without suspicion or being remembered by any of the hotel staff. Because it's more exciting to evade arousing suspicion and being caught the more round trips you can make, and you can never have too many rifles with you if you are a sharpshooter assassin (/s). Of course there is zero recorded camera footage of all these separate trips. Note also that none of the 22 rifles were configured or even appropriate for long range shooting. Then he proceeded to open fire on the crowd of randoms with only 2 of the rifles (that could barely hit the broad side of a barn at 500 yards), and ignoring the 20 other rifles he brought with him because, hey, you can never have too many rifles with you if you are a sharpshooter assassin (/s). I mean, why bring only one AR-15 when you can bring 14? And everyone knows that bump stocks are really accurate, right? (/s) No camera footage exists of all his rounds trips with all the guns and ammo. (My understanding is there are also hidden cameras inside the high-end hotel suites like the one he was in). He had been checked into the hotel for a week, and still zero footage. No burn marks on the carpet from the hundreds of spent ammo rounds. No day job or career history, no phone or txt msg records, no public ID record, no background, no gun purchase or registration records, no criminal history, no online internet history at all of the shooter for the 64 years of his life. No motive at all for the shooter. To this day, the police have zero motive or leads/evidence as to any sort of planning or motive. Absolutely nothing about the official story adds up. It's fucking absurd. But hey, the public turned off their common sense and dismissed any questioning of all this as a "conspiracy theory". Just believe exactly what the MSM tells you... and they did.
"Not all conspiracy theories are true, but that doesn't mean none of them are." i.e. use your brain. Maybe trying too much to read into the mind of a sick/deviated person and try to rationalise his acts? I like conspiracy theories but mostly from a technical point, so lets just get throw the facts... 1- Are you sure no camera footage exists of his round trips? In fact I think some of him in the elevator was even made public. Also, I don't think they have published all the findings. If they have, can you point me to the full forensic and policial reports on the case? 2- No, there are no hidden cameras inside high-end hotel suites. There are some in the hallways, outside the room. And not everywhere. Where did you get this "understanding" from? 3- The carpets of Las Vegas hotels are usually extremely heat/fire resistant even to cigarette burns. 4- His "day job" was to tend his rented properties. I don't know what you mean about the rest of records... are you just complaining that it hasn't been published in full? 5- What motive do you expect for your regular mass shooter? Also it is not true that the police had zero leads about the motives and there were indeed evidences suggesting he had been planning it and even the Las Vegas concert was not his initial target. I would say that the official story is way more solid than the conspiracy theories in this case. Anyway, anyone is free to decide by themselves based on whatever information they can get. |
|
|
|
It looks like this next bull run has well and truly started.
I have been HODLing pretty much most of my corn over the last 6 years apart from a small sell off back in early 2018.
I am now thinking about my next steps to ensure my retirement and to increase my BTC stash to leave as a legacy for my children.
My plan is to cash a small amount out somewhere between 40 to 100K to retire on.
I was thinking that I would continue to HODL 25% of my corn and begin to sell about 75% into a stablecoin backed by gold or some other fairly stable asset (PAXG perhaps?)
Then spread the PAXG over several lending platforms and earn interest while the price of bitcoin takes its natural course back through the next bear cycle (late 2022??).
Once we bottom out and begin the next upward trend after the next halving the plan is to buy back in with PAXG or whatever stablecoin would work.
The reason for using a stablecoin is twofold
1) Receive high interest yield on lending platforms
2) Avoid paying large Capital Gains taxes.
I was interested in my WO bretheren's thoughts on this.
So what do you guys think?
First, I will assume you mean 40K to 100K yearly? Anyway, I am not sure it is a good idea to retire early (another assumption) just having secured expense for only one or two years (another assumption) and taking for granted that they will keep coming or even that BTC couldn't crash dramatically. Second, stablecoins.. yeah, it is a possible diversification but I wouldn't put all (or most) my eggs onto that. Diversify is key here: FIAT, Stablecoins, real estate, gold, maybe even some stocks (lol).... a mix. Third, lending platforms? eeeeeeccccckkk Again not where I would put a substantial amount at risk... In the end it is you who know in detail your finances and what percentages to assign to each asset but, overall, I don't think your plan is solid (IMHO). Sorry about that. P.S.: Also, you don't avoid paying CGT by going into stablecoins. It is just the same as if you went into FIAT. Again, sorry about that. Ah wasn't aware that you still pay CGT when going in to stable coins. That definitely puts a spanner in the works. I didn't explain myself very well regarding cashing out a small portion. I meant I will be selling enough to be able to retire early when the BTC price reaches the region between 40 and 100k. I wasn't specifying the amount I was going to cash out. That makes more sense then. So I assume you have already calculated the amount you will need in order to retire and the approximate price where you would do it. That part of the plan seems solid then. Just also take enough additional to pay for the corresponding CGT and try to diversify: FIAT, stablecoins, real estate, gold... |
|
|
|
It looks like this next bull run has well and truly started.
I have been HODLing pretty much most of my corn over the last 6 years apart from a small sell off back in early 2018.
I am now thinking about my next steps to ensure my retirement and to increase my BTC stash to leave as a legacy for my children.
My plan is to cash a small amount out somewhere between 40 to 100K to retire on.
I was thinking that I would continue to HODL 25% of my corn and begin to sell about 75% into a stablecoin backed by gold or some other fairly stable asset (PAXG perhaps?)
Then spread the PAXG over several lending platforms and earn interest while the price of bitcoin takes its natural course back through the next bear cycle (late 2022??).
Once we bottom out and begin the next upward trend after the next halving the plan is to buy back in with PAXG or whatever stablecoin would work.
The reason for using a stablecoin is twofold
1) Receive high interest yield on lending platforms
2) Avoid paying large Capital Gains taxes.
I was interested in my WO bretheren's thoughts on this.
So what do you guys think?
First, I will assume you mean 40K to 100K yearly? Anyway, I am not sure it is a good idea to retire early (another assumption) just having secured expense for only one or two years (another assumption) and taking for granted that they will keep coming or even that BTC couldn't crash dramatically. Second, stablecoins.. yeah, it is a possible diversification but I wouldn't put all (or most) my eggs onto that. Diversify is key here: FIAT, Stablecoins, real estate, gold, maybe even some stocks (lol).... a mix. Third, lending platforms? eeeeeeccccckkk Again not where I would put a substantial amount at risk... In the end it is you who know in detail your finances and what percentages to assign to each asset but, overall, I don't think your plan is solid (IMHO). Sorry about that. P.S.: Also, you don't avoid paying CGT by going into stablecoins. It is just the same as if you went into FIAT. Again, sorry about that. |
|
|
|
|
It seems that Dooglus hasn't been active in the forum since 14 July. Let's see how many new top 100 days we had when he comes back.
|
|
|
|
|
Show Posts
