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1082
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 16, 2021, 12:11:36 AM
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What's the value of Pi?
Mathematician - 3.141592653589793238462643383279502884197169399375105820974944592307816406286 208998628034825342117067982148086513282306647093844609550582231725359408128481
Physicist - 3.14159265358979323846264338327950288419716
Engineer - about 3 something
Engineers use a minimum of 3 significant digits as a rule. Dude, you just ruined a mathematician's joke  I smell an engineer  |
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1083
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 15, 2021, 05:03:36 AM
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How do you determine that the Bitcoin price is not overvalued?
The board periodically discloses the assets in btc coffer (Usd, Eur, UK Pound, Yen). The CEO signs the document, so it becomes official. At this point, anyone can check the value of btc against its coffer - although it's not a simple calculation: it requires lots of math and science. |
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1085
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 14, 2021, 07:02:13 PM
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I like Saylor's talk about borrowing against your bitcoins so you never have to sell. I'm going to work on that over the next couple of years to be ready for any big purchase I may want in the future. Unfortunately I'll be paying the capital gains for this year's sale. I really hate paying taxes, I've been able to avoid it by only selling under the zero tax rate per year but I think borrowing will be a good way to do it from now on.
Please let me know if you figure out a good, cheap, and quite safe way of going about this.. +1 from the other Eddie. We need to figure out ways to use our present or forthcoming wealth. Being rich doesn't come easy, and it staying rich isn't a piece of cake, either. Biodom listed some resources a few pages back. -multisnips-Biodom, it's not the first time you use the word 'bearish' to define JJG's ladder system. Why would you characterize it so?
I just do not want to criticize too much, to each their own. you would be able to borrow against btc stack, which M. Saylor keeps bringing up, but not many on WO are listening. Such loans are typically used by high net worth individuals (HNWI) against VTI, VOO, SPY, and other whole or broad market ETFs. Thank you. You got me thinking, especially about the loan thingy. I'd be glad to know more about that. Any pointers will be welcome. Fidelity: https://www.investopedia.com/fidelity-will-accept-bitcoin-collateral-for-cash-loans-5091879Basic rate is high, 4.5%, but i am sure this will go down. I would be shocked if Coinbase would not do the same soon after the IPO. Personally, i would never go above 20% LTV, maybe just 10% (in case of our typical 80% drawdown). The advantage-NO cap gains tax. In fact, maybe deductible interest (or not, hard to say) Borrowing Against securities (better rates right now): https://www.schwab.com/pledged-asset-lineLibor is 0.11%, so the best rate is 1.86%. Say, you've got, hypothetically, $10 mil of VOO. You borrow $ 3mil. Your interest (to pay) is 3000000X0.0186=$55800 yearly However, $10mil in VOO generates $152000 yearly in dividends. End result-you borrowed $3 mil to do whatever, it effectively cost you nothing (well, a decreased divvy). Yes, you would have to pay the principal at some point, but you can use divvy remainder to do that plus VOO goes up roughly 10% a year, so the loan basically pays for itself (if stock market performs). That's why rich can have a cake and eat it too, lol More: https://www.wellsfargoadvisors.com/why-wells-fargo/products-services/lending/securities-based.htmYes, best rates are for those with lots of assets. Ret accounts are NOT eligible, though. Mind you, I have done nothing of the sorts so far, but I am studying the question (after Saylor's remarks). Yes Elwar, I duly noted your previous post - and appreciated it silently while bookmarking it for future study. I'm always on the lookout for alternatives though, because not all systems are equally accessible depending on individual cases. Thanks for your informative reply!  |
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1086
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 14, 2021, 06:38:16 PM
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I like Saylor's talk about borrowing against your bitcoins so you never have to sell. I'm going to work on that over the next couple of years to be ready for any big purchase I may want in the future. Unfortunately I'll be paying the capital gains for this year's sale. I really hate paying taxes, I've been able to avoid it by only selling under the zero tax rate per year but I think borrowing will be a good way to do it from now on.
Please let me know if you figure out a good, cheap, and quite safe way of going about this.. +1 from the other Eddie. We need to figure out ways to use our present or forthcoming wealth. Being rich doesn't come easy, and staying rich isn't a piece of cake, either. |
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1089
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Economy / Speculation / Re: [WO] nullius offers to sell his bitcoins!
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on: March 14, 2021, 02:01:46 PM
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Sold a tiny piece just to say I sold some over 60k  acquired a tiny piece just to say I bought some over $61k Am I the only one after Microstrategy? Did I disrupt the price?0.005219 @ $61307.90I am bookmarking this post. In the future, there will be a market correction. Bitcoin will crash hard, all the way down to $100k. The media will scream that Bitcoin is dead. The mindrusts will be shaken out. Then, Bitcoin will continue up to $1m. Amidst the fracas, n00bs will quote you with their wishes that they had a time machine to buy dirt-cheap at only $61k.
Open offer to readers of the Wall Observer: I hereby offer to sell my Bitcoin. All of it.The price that I offer is 1000 sats per USDT.This offer is time-limited and non-negotiable. Escrow will be required, unless the buyer is theymos or a well-known Core developer or [well, there is no replacement for Lauda]. Serious inquiries only! PM or e-mail me. Preferably, use PGP. Of course, it would be stupid to take this offer while you can still get >1600 sats at market. And of course, I would immediately swap the Tethers back to Bitcoin! (And then offer you the Bitcoin—until either you run out of Tethers, or this perpetual motion arbitrage feedback loop moves the whole market.)I make this offer by way of demonstrating a point: Someday, people will want a time machine so that they can take me up on this. Nonetheless, the offer is serious: I always keep my word! The number will go down. I think that I will soon revise it to 833 sats per USDT, or maybe 750 sats per USDT, so act fast! Your new hobby is writing OTM calls with whimsically variable strike date/price, but no premium? |
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1090
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 14, 2021, 04:00:06 AM
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-multisnips-Biodom, it's not the first time you use the word 'bearish' to define JJG's ladder system. Why would you characterize it so?
I just do not want to criticize too much, to each their own. you would be able to borrow against btc stack, which M. Saylor keeps bringing up, but not many on WO are listening. Such loans are typically used by high net worth individuals (HNWI) against VTI, VOO, SPY, and other whole or broad market ETFs. Thank you. You got me thinking, especially about the loan thingy. I'd be glad to know more about that. Any pointers will be welcome. |
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1091
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 14, 2021, 01:03:36 AM
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Gurl, YOU are the one who is bearish-always selling when btc goes up and accumulating useless fiat,
That's bearish? Biodom, it's not the first time you use the word 'bearish' to define JJG's ladder system. Why would you characterize it so? It seems to me that such a system only works if the underlying asset goes up. It could even be argued that mere use of this ladder implies fundamentally bullish beliefs (number go up). Otherwise, there would be no need for "suicidal buys" on the way down to zero. Care to explain? while I mentioned that i would not sell bitcoin (probably ever).
I think I see what you mean here. There are other, possibly more sophisticated ways to put the corn to work - for example, arbitrages or option plays - which however often imply ultimate movements that are essentially sales, or very akin to sales - but I digress. How, if even, does this imply that the more intuitive system is "less bullish" or even "bearish"? |
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1095
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 13, 2021, 03:09:32 PM
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I think there are subtle but meaningful sociocultural differences. How many Americans vs. Europeans live hand-to-mouth? How many Americans vs. Europeans find it exceedingly easy to get into debt and never get out of it? How many Americans vs. Europeans can face an emergency expense in the ~10-50 mbtc range? (Fiat agnostic amount.) More could be asked, but the final summation is: How many Americans vs. Europeans can afford to hodl tight to their corn once they have some - bought out of "clear" (not encumbered) money that they can "afford to lose" or "spend only when it's grown enough"? TL;DR: American fiat is the greatest fuel source for bitcoin, but I suspect Euro laggards provide stability. |
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1096
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 13, 2021, 02:00:20 PM
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I see some twitter reports that the $1400 stimulus checks deposits will be cleared on 17th March.  $400bil will be sent to the Americans from the total $1.9tril stimulus to the economy. If 10%, i.e. $40bil makes its way into bitcoins, that would mean 701K bitcoins at the current price. For reference, the total amount on all exchanges including derivate is BTC2.35mil. So the fun will start from the 17th. Especially for the shorters! There goes my last - for the informative post category (and bullish too, which never hurts). +1 WOsMerit (note to self) |
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1098
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 13, 2021, 12:20:19 AM
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"The value of Bitcoin fell" Then came back within like 10 minutes. Congratulations CFTC, you made a blip. The crash is continuing. 2021 is not going to be a good year for bitcoin. Can I get a "confirm"? Confirmed. We are on the cusp of a powerful inverse SUPER bearish spike. The dreaded reverse bear double-flip! Also called Mill-Kill, because it makes a lot of new millionaires before plunging deep into the abyss. The new once millionaires for a day (or decade) typically kill themselves soon after the millions are gone, or just die natural deaths while the money is mostly still there. Sad. |
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1099
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 12, 2021, 11:38:52 PM
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"The value of Bitcoin fell" Then came back within like 10 minutes. Congratulations CFTC, you made a blip. The crash is continuing. 2021 is not going to be a good year for bitcoin. Can I get a "confirm"? Calling a friend of mine, big expert in science, bitcoin, maths - and incidentally camelidae! His name is Muhammad and his favorite member of the camelidae family is called Honey - though everyone else knows her as Molly. But I digress. He said "Confirm!".
He also added "Wait, Honey, sorry, I'll turn the phone off, promise! Come on don't be like that... bye Eddie, I've got an important errand.", but I digress again. |
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1100
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 12, 2021, 11:18:43 PM
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jaaaeeezus...that didn't take long.
Stimmy shitcoin airdrop just landed in my bank account. Thanx Joe . (Yeah, yeah, I know... money printer go brrrrrr...)
Well then, just like back in 2017, when I converted all my free airdropped shitcoin to BTC.....
...need I say more?....
Good to hear. This dip fit in just nicely didnt it. |
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