Wow, hidden in the news is a fact that facebook has an access to a "time machine" /s The bitcoin-inspired cryptocurrency, reportedly dubbed GlobalCoin, is set to be rolled out for testing by the end of 2018 |
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Ah, it's a number that I got in a calculation (for a projected scenario), not a coin that I may or may not have.
TL;DR: too high a price of bitcoin (in the multiple millions) will result in a drastic increase in global millionaire numbers (if hodlers do not sell en masse), which is unlikely, therefore the price in the multiple millions is unlikely.
My calculated upper bound price of btc that does not affect the total number of millionaires too much is about $1mil/btc.
I don't see multi-million BTC as implausible in 2030-2050 and certainly not beyond. Perhaps, but I was only talking (effectively) about the next 5-10 years, which is a time period where i have the most interest. |
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The btc addr of that QR code ....is not a segwit address...  yet, new generation chooses btc! |
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Relax and start planning to make your dreams come true. Financial freedom at the horizon is imo already a certain outcome.
Somehow, i have this nagging feeling that it might not happen. Essentially, it would mean minting of millions of new millionares. Too much deviation. I actually tried to calculate what would be the price of btc be for total numbers of millionaires going up by less than 10% (from the current 33-36 mil millionaires). I got about 0.86btc-1.28btc for $1 mil or 780K-1.16mil/btc (for total of about 2.75-3.5 mil accounts). This is possible, but too much of a dream. How often dreams come to a realization? I had the same vibe at 20K...feeling that it is somehow wrong. Maybe too early? You should hold that one full coin for atleast 5-10 years. I know it is a long time but you will reap the benefits big time. Ah, it's a number that I got in a calculation (for a projected scenario), not a coin that I may or may not have. TL;DR: too high a price of bitcoin (in the multiple millions) will result in a drastic increase in global millionaire numbers (if hodlers do not sell en masse), which is unlikely, therefore the price in the multiple millions is unlikely. My calculated upper bound price of btc that does not affect the total number of millionaires too much is about $1mil/btc. |
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Is there any impact on cryptocurrency such as Bitcoin if that "facebookcoin" will launch?
Like, it is possible the market cap of some cryptocurrency will decrease because of facebook?
Facebookcoin will be everything bitcoin is not. It'll be reversible, blockable, confiscatible, its value will be tied to the fiat currencies it's pegged to, and most importantly to many it won't make you any money. Remittance is the one area I can see it eating cryptos theoretical lunch but then again they're partnering with Western Union which won't be a bargain. I think Facebook will turn out to have bitten off more than they can chew. Compliance will be an utter nightmare. If it's to have any effect it'll be to remind people how important the real deal is. I fail to see the point of such facebookcoin. Why would someone need a monstrosity seemingly correlated with a basket of currencies? That means that you can still lose value. A 'stable" currency that is not stable? If it is not stable, then you are still liable for the capital gains? Who needs it? It's a lame attempt of outdoing Wechat, I suppose. |
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Relax and start planning to make your dreams come true. Financial freedom at the horizon is imo already a certain outcome.
Somehow, i have this nagging feeling that it might not happen. Essentially, it would mean minting of millions of new millionares. Too much deviation. I actually tried to calculate what would be the price of btc be for total numbers of millionaires going up by less than 10% (from the current 33-36 mil millionaires). I got about 0.86btc-1.28btc for $1 mil or 780K-1.16mil/btc (for total of about 2.75-3.5 mil accounts). This is possible, but too much of a dream. How often dreams come to a realization? I had the same vibe at 20K...feeling that it is somehow wrong. Maybe too early? |
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....these are the days that will form what you become.
err, no, too late for me, I am already fully grown  The price is about $3k higher than it should be at this part of the cycle. We are already higher than what the December 2019 peak should be. It’s all gravy.  Am I the only one kind of wishing their lives away until a point in the future, probably late 2021 or something? No, I've got kind of a low key depression going on. I should be enjoying every moment of life, but I feel like I'm just going through the motions every day and just trying to "survive" until I can retire within 2-3 years, hopefully. It makes me wish I was in a coma for three years. ATM, I'd probably be happier if I never heard of bitcoin. Weird situation  And I feel bad for feeling bad about this. We need a fucking therapist in this thread. This board is a good therapy, IMHO. maybe you should charge subscription (by the hour)...JK |
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^Very cute   An Avo cadro number? The cute cat-a new meme, perhaps? |
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to me avocado feels like eating butter, but I know that it is good for me, so I partake regardless of the bland taste  . It is quite buttery but I usually don't find it bland. Maybe if it's not quite ripe when you eat it? I probably just ate too much several times when I was in more active avocado consuming period. It's hard to get bad avocados in TX due to its proximity to Mexico  |
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I had my pizza with deep-fried avocado - delicious.
Deep fried avocado?? That sounds delicious. How do they fry it without it falling apart? I guess if you can deep fry ice cream you can deep fry anything. One of my favorite seasonal beverages is the avocado shake. You wouldn't think avocado would go well with vanilla ice cream, but it does. Its kind of amazing. to me avocado feels like eating butter, but I know that it is good for me, so I partake regardless of the bland taste . |
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I am curious where do you see ltc/btc ratio longterm?
This may seem like a "busy" chart to you: LTCUSD (top); BTCUSD (middle); LTCBTC (bottom): I have not done the math of BTCUSD and LTCUSD price projections to see what that would equate to for LTCBTC. But this is my estimate... Reversal to upward pressure COULD begin as soon as May 27th but may not see reversal until a couple of days into June. img snipped Bitcoin/USD - Bitstamp:  Something like your green line is my favorite scenario as well. |
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Bitcoin IRA is not a self directed LLC setup.
Cool. Their fees were high in the past and maybe they used the LLC setup before. Honestly, I still prefer XBT Provider's ETNs. The volume and market making on them is fantastic. Any USA broker that allows people to trade them in IRAs? CXBTF is the symbol. I bought them on Fidelity (in IRA, had to sign some additional online docs). The trade fee was expensive too. This ETN is weird as sometimes it is quoted and sometimes not, like today there is no chart in yahoo finance for some reason. At one point it was suspended for a few months. I think that SEC "hates" it. Or, maybe BS has these feelings, lol. |
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Let's assume that in the year 2023 BTC is 250K without hyperinflation in fiat (as per Draper's numbers since he nailed the 10K time spot precisely). Whatcha gonna do? Retire? Buy RE in trendy places (SF, NY, London)? Buy a ranch (not for me), maybe a house in the woods? Travel (or alternating between golfing, skiing and parasailing)? Anybody care to say? My choices (in the aforementioned scenario): 1. Retire (70-75% probability). 2. A small apartment, maybe NY or San Fran or even LA (got tired of all the heat in TX). Location is more important than size. Views are much better in San Fran, but the city loses it's culture mix, apparently. https://www.washingtonpost.com/lifestyle/style/how-san-francisco-broke-americas-heart/2019/05/21/ef9a0ac0-70ea-11e9-9eb4-0828f5389013_story.html3. A basic house in the woods-Oregon, maybe. 4. A few trips to Europe, maybe Japan. Will go to a few CL finals, hopefully! Oh, forgot to say that I would not do anything if we keep oscillating between 5k and 20K. Retire, move to Texas or Florida, spend my time studying computer science, parenting, being a beach bum, and growing tropical fruit. When the kid has summers off from school, take long foreign trips. I hear you, but are we moving (presumably) in opposite directions, lol? In TX already. Like the people, and no state tax, don't like the heat and HIGH RE taxes (they are more than three times higher than in CA and seven times higher than in Hawaii). |
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Let's assume that in the year 2023 BTC is 250K without hyperinflation in fiat (as per Draper's numbers since he nailed the 10K time spot precisely). Whatcha gonna do? Retire? Buy RE in trendy places (SF, NY, London)? Buy a ranch (not for me), maybe a house in the woods? Travel (or alternating between golfing, skiing and parasailing)? Anybody care to say? My choices (in the aforementioned scenario): 1. Retire (70-75% probability). 2. A small apartment, maybe NY or San Fran or even LA (got tired of all the heat in TX). Location is more important than size. Views are much better in San Fran, but the city loses it's culture mix, apparently. https://www.washingtonpost.com/lifestyle/style/how-san-francisco-broke-americas-heart/2019/05/21/ef9a0ac0-70ea-11e9-9eb4-0828f5389013_story.html3. A basic house in the woods-Oregon, maybe. 4. A few trips to Europe, maybe Japan. Will go to a few CL finals, hopefully! Oh, forgot to say that I would not do anything if we keep oscillating between 5k and 20K. |
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So, he is saying that volatility is "steadily" increasing during the last three years? Lol, it does feel this way, regardless. |
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Based on now almost forgotten BETI model, I always thought that prior bubble should have peaked at 28K or above. It was really hoodwinked out of existence by the CME futures. He is also surprised by that (the "bubble" peak was too low in 2017 by comparison) and suggests higher S/F next time (to "compensate"). That's an interesting idea, albeit I am not sure why S/F became such a rage all of a sudden? |
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sad episode: 1. Some full bodied students (females) were ogling ONE dollar is if it is something, one even said that she is hungry. IDK, spent all money on tuition, perhaps? I was less broke during my student years, for sure. 2. Interviewer found a guy who wanted bitcoin, but he did not give it to him (at least to the first guy) under some lame excuse that the guy did not have a wallet. |
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@JJG
Tbh buddy, I need to buy a diary (I like paper records) and write down a few price/sell scenarios. I need to be much better prepared for the next parabolic bull run.
The last one took me by surprise & I was a little bit like a deer in headlights.
We all need to have a fixed sell point for a % of our bitcoin’s in my opinion. I might go out tomorrow & buy a diary then scribble a few things down tomorrow night.
IMHO, all plans go astray when market hit you in the face as hard as the last time. I promised to someone to sell a certain amount at 10K, then market surged and I sold only 1/10 of what was agreed. Now, i am not certain whether i should still go ahead at 10-11K (if and when we get there) OR wait it out. From prior btc bull markets, they always tend to go to new ATHs; on the other hand-what if this is the first time it wouldn't happen (as unlikely as it is)? Another thought: I rather not plan selling at exact numbers, but maybe at a certain time vis-a-vis what I want to do with the proceeds. |
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They think that they look thoughtful, but in reality some prior comments were done by absolute nincompoops. Whatevs...it's not even funny. They pretend that GBTC does not exist. What is the difference? |
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It is interesting that this ETF thing is so important. This side of the pond I could have invested in crypto ETFs for years now... Nothing new...
AFAIK, Crypto ETFs are baskets of shares of selected crypto companies. I think a cryptocurrency ETF exists already, but it includes ETH and other shitcoins. The ETFs under SEC scrutiny would include btc only. What's more, some of them are designed for settlement in kind, not in cash (that is, bitcoin - not USD). The importance or usefulness of such a financial instrument is debatable, but it can't be dismissed as "nothing new". Where's the novelty? Everyone would be able to buy (paper) btc through their stock market broker, without having an account at an exchange. Besides, if the settlement is really in kind, the ETF issuer would have to hold/buy/sell matching amounts of the underlying asset (btc) or bear the risk when the ETF holder asks for payment. That is, if fuckery can be ruled out. Which is a big IF. The swedes have an ETN that tracks Bitcoin only. They call it an etf. As I understand it it is an ETN though. You can buy that ETN (called Bitcoin tracker or something similar) on Fidelity (even retirement accounts can buy). I bought a little just to see how it works. It does track btc mostly OK. Big gaps because of weekends, of course. Trades as CXBTF (in US). https://xbtprovider.com/products/bitcoin-tracker-one |
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