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Why btc is going vertical?
Two possibilities:
1. We don't know something important.
2. We are being played.
I worry about the second, hoping for the first.
This is not something usual.
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Ahem...we pierced 61.8 Fib retracement, next stop 78.6%.
Not sure if to calculate from just the top ($19780) or from the prior move (1160 to 19780=18620 points).
If the latter, then it is $15795; if the former, then $15547.
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My rough calculations show BETI at -1 when btc would be around $16522.
If we get there, prior graphs show that we accelerate toward BETI=0, which would be at $44K (current number).
Possible? Maybe.
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Mainstream news paper today (page 2)  I know for a fact that some misspelling of blockchain.info causes a "rogue" page that tries to seize your browser. Related? Check the stuff that you type (for bitcoin-associated sites) or use bookmarks. |
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Holy fuck those Central Bankers sure know how to buy  well, they always have more, lol. |
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With this run, one should be on the lookout for a "crazy Ivan" (for those who haven't seen the "Red October"-try to see it).
We already had one from 8400 to 6100.
Running up a bit too fast now (not that I don't enjoy it).
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Here is some info about selling to fiat in US:
On the exchange side:
OTC-don't know, probably no limit, then wire. Gemini auction, Circle OTC? Circle 250K minimum.
Coinbase-at least up to 50K daily transfer is feasible. More-don't know.
Gemini-ACH up to 100K daily, Wire?
Kraken-up to 25K/day (Intermediate), 125K/day with POSOF (proof of source of funds-have to prove that you are an accredited investor); Pro (10 MM)-this is probably mostly for companies and family offices.
For some reason Kraken excludes TX from high value transfers (100K). Every other state is apparently OK (for 100K daily).
On the bank side:
Only anecdotal info. Not clear at what $$ one needs to talk to a banker prior to transfer (if ever). OTC probably does it for you.
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Went to get a coffee - $11,444 Fuck! @mic - Yessss Amsterdam party  $15k soon possibly. Bro, I’m enjoying this a lot more than the bear market we endured So much fun to check the price every day & mostly green. Really enjoy the camaraderie in this thread. It’s good to have you lot to talk to about it, I don’t like to talk to my brother, family & friends about it because it feels like showing off. You guys are all on the train though so great to discuss And we always have this friend or close relative who will give you a look that you will feel yourself an Alien from another planet and get pissed LOL IRL, except my wife I do not talk about it to anyone at all. That's the problem sometimes: nobody (except here and/or wife) to talk to. People are periodically annoyed , then feeling pity for you, etc. So, i sublimate into stock market discussions. I know stock market from way back when, so it is not a problem. No-coiners always have these little "schemes" of how to make a gigantic score on the stock market (like 10%). Oh, well. |
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Well, I figure by the time society/Gov't is after me and it is that far gone, it won't matter. I also figured that IF a meteorite takes out my bank, well the crypto gods hate me! I 'suppose' I should make a copy to another bank in another state, in case of the 'Zombie Apocalypse' What you state above, does not really matter in my case, in that when BTC was evil in 2013 my bank manager informed the SEC I was an 'evil crypto trader' in that in 2013 all BTC was for drugs/hookers/etc. Thus at least for 2 weeks going into the bank before the SEC guy phoned and had a meeting about this. I was a 'true' desperado with all the side looks and side talk when I went to the bank to do my business. I cleared it all up with my mining CPA signed Tax Return of 2014, made the bank manager look like an Idiot. Thus have been 'legal as hell' from that point on. So I'm afraid the powers that be already have my number, in that I had to tag my bitcoin addresses etc to my taxes (at least in my own files). Thus, doomed. I will, however, let everyone else know when the above as you state happens so others can flee. Alas. My fate is likely sealed. Brad I am not talking about taxes, but an interesting story. I never used safety deposit box because i have no idea how safe it actually is (judging by the movies). A somewhat unrelated "rant": I think people under appreciate the difficulty (or maybe lack thereof?) of selling substantial $$ value of btc to fiat. I intend to fully pay taxes (same Q) on whatever gains I would made when I sell, but transferring $$ from coinbase to a bank would probably require some talking to a banker first, I assume. Bob opined before that there were no problem in his case (Gemini?), but I would approach it cautiously if and when the time comes (if ever). |
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OK, made by own "2017 vs 2019" overlay:  It is totally possible. I started speculate that we will have two bull runs in this cycle same as it was in 2013. April and November runs. So we reach ATH of this run at end of this or beginning of next year and then crash. I doubt there will be a 80% crash. And a year latter we have the final bull run of this 2020 halving Bitcoin cycle. I am of the same persuasion (two peaks as in 2013): https://bitcointalk.org/index.php?topic=178336.msg51518490#msg51518490The gist of it: up to 65K (in 2019, early 2020), down to $16.7K (before halving), up again to $300K. Perhaps, this would emerge as WO "prediction" consensus. |
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OK, made by own "2017 vs 2019" overlay: About 80K 2019 local top...I can live with that I am already seriously jealous of some countries (Germany), citizens of which do not pay any capital gains if they held corn for more than a year. |
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2017 version of my better half: "Why you did not sell [some number] at 10K, you promised, you promised." 2019 version of the dialogue: "Should I, hon?" "Oh, no, keep it, don't you dare." Got myself a "keeper"  .
it's possible that he sold some calls...I distinctly remember him selling some puts before (not sure if it worked out or not).
You referring to Trace Mayer, Biodom? Are you suggesting that he is talking his book? or his analysis is off in some kind of way? Personally, I would suggest that Trace Mayer's analysis is off because it seems to suggest a kind of gradualism in the coming months and even years. I know that he is showing how fair value progresses, but bitcoin does not tend to progress in any kind of short-term gradualism. Perhaps, the former, but maybe also the latter as you discussed. |
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it's possible that he sold some calls...I distinctly remember him selling some puts before (not sure if it worked out or not). |
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Good afternoon all
Hope everyone got out and blew the stink off yourselves. I sure did, the upper Methow is stunning right now even if still wet and cold.
Lucky dog (re location). It's hard to do when it is 93F around here. Maybe will visit WA or OR toward the end of the summer, though. Never been there, it looks very nice. https://www.vrbo.com/722563 |
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Don't forget: the drones are coming.
You have been warned.
huh? amazon drones? |
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Back to 11 000! This week will be very interesting! Ah, Bitcoin is like the very HOT bi-polar Girlfriend. When it is bad, it is very, very bad. But when it is good, she is very, very bad...(er, distracted myself) ..I mean all is great! aka "Shameless"... Cheers, B. |
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my 2c about bitcoin and [helping] children.
IMHO, parents should help children achieve what they want to achieve and that's it.
Practically: get them into the best pre-school and school that you can manage/afford, guide their learning and sports activities (in balance), never deny them what they ask as far as education goes (museums, trips, etc.).
I also think that parents should pay as close to 100% of educational expenses (including college) as possible.
After this, the only way I see myself helping is a house downpayment (in expensive cities).
They have to be able to be independent, not rely on trust funds, even if your btc winnings would allow for this in a few years.
Later on, they will get their inheritance, but, hopefully, they would be ready for it then.
I agree and I also believe teaching them to save with their own earnings (regardless of any debts owing) is crucial at a young age. I started a savings account with my son in BTC when he turned 19 with the understanding that it will be a deposit only account until he's 40 or decided to buy a home. A very small amount goes in each month. My hope is that it'll represent/reinforce the notion of personal financial security while the value increases until a time where it actually does offer such security. Good one. I told my son that I would either open a Roth IRA for him (at 19) and deposit his first year earnings there OR btc...the brat chose btc. Oh, well, it can't be helped. So far, maybe 60% ROI, we shall see. |
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Interesting points from both.
Some people actually like being frugal, aka driving much less of a car than they can afford. WB is of course an example. Maybe they get off on power, etc.
Sometimes it also could be a work place. If you suddenly show up with a Lambo or McLaren GT in a middle income workplace, there might be too many questions.
On the other hand, what's the point if you can't spend a bit.
The rich stay rich by acting poor. The poor stay poor by acting rich. The blingiest people I've come across never had a pot to piss in. I have an in law who's the richest person I know. He makes a couple of million quid a year. The last time he stayed at a fancy hotel the staff asked him to hide his 2003 Skoda out the back. Well said. He did stay in the fancy hotel, so THAT is his weak spot, lol. Everyone probably has at least one. |
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