1341
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 09, 2021, 05:33:07 PM
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Yeah, but there are some states that are firmly red and always will be.
In fact, I'm betting that the state I live in now will still be standing firm as a last bastion of low taxes and personal freedoms, when all other states around it have collapsed due to govt mismanagement, high taxes, defaults, and other over-reaching nannie state bullshit.
I won't divulge where I live tho, 'cause OpSec and all.
But, does your state respect both the first and second amendments? Can you carry a loaded firearm openly without needing to conceal it, without a license? (I understand some States have Concealed Carry Licenses too.) Yep, yep, and yep (with permit).
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1342
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 09, 2021, 04:26:54 PM
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If you live in the U.S., here's my advice to narrow things down (which I did):
1. States that favor private property rights and other freedoms (usually conservative) 2. States that have low or no income taxes 3. States that have low property taxes (this is huge!!) 4. States with moderate climates and a longer growing season 5. States that don't have to deal much, if at all, with natural disasters (i.e., tornadoes, tropical storms, hurricanes, earthquakes, mudslides, etc.) 6. States with low electricity costs 7. States that have lots of available, lost cost land within 10-20 miles of a major city 8. City near where you will live has a decent airport with international flights
If you cross reference all of this criteria, you'll find that it narrows it down to about a half dozen states at most.
The US is tricky right now. Some states are about to flip blue, especially given the electoral changes that the dems are trying to push through right now. And even if they don't, the federal government looks on a course to hugely expand its powers and oversight. I'd avoid making any big moves for the next couple of years and then try and pick carefully. Yeah, but there are some states that are firmly red and always will be. In fact, I'm betting that the state I live in now will still be standing firm as a last bastion of low taxes and personal freedoms, when all other states around it have collapsed due to govt mismanagement, unaffordably high taxes, defaults, and other over-reaching nannie state bullshit. I won't divulge where I live tho, 'cause OpSec and all.
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1343
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 09, 2021, 02:47:05 PM
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Sounds good...will be taken under consideration when building a custom "dream house". The only question right now is: where? Current thinking is to go bi-coastal (a combo of FL/WA-OR-CO; Caribbean/WA-OR or even FL/Canada (Vancouver?)...less likely is one house in US, one in Europe (London or something sunny, like Portugal). Portugal has something good going with a golden visa, but learning Portuguese might be difficult (or not).
This is something that many of us WOers will seriously need to consider. And by the looks of it, this will need to happen sooner than some may have imagined. Bob is building a ranch, Jimbo is buying a lake (man, that sounds so cool), Elwar is into seasteading (not without its troubles, but still, he's pursuing his dream). I'm also thinking of different possibilities. It's not easy to be rich. Sometimes not having a choice is much easier than having many choices and not being able to decide (although I'd take the second option anytime). If you live in the U.S., here's my advice to narrow things down (which I did): 1. States that favor private property rights and other freedoms (usually conservative) 2. States that have low or no income taxes 3. States that have low property taxes (this is huge!!) 4. States with moderate climates and a longer growing season 5. States that don't have to deal much, if at all, with natural disasters (i.e., tornadoes, tropical storms, hurricanes, earthquakes, mudslides, etc.) 6. States with low electricity costs 7. States that have lots of available, lost cost land within 10-20 miles of a major city 8. City near where you will live has a decent airport with international flights If you cross reference all of this criteria, you'll find that it narrows it down to about a half dozen states at most.
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1345
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 07, 2021, 04:53:09 PM
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Well it's quite simple, with every new bull run they need a new "scam-straction" to distract the pleebs away from Bitcoin. With this new NFT garbage, it's like the mother of all frauds: selling outrageously over-priced digital tulips on the biggest scam blockchain of them all, ETH. They will be *really* hard pressed to top that one in 2024.
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1352
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 02, 2021, 06:31:28 PM
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Buying this dip with orders all the way down to $45k... for now. Already got filled @ $47.5k
O’Leary had always been worried about regulators coming down hard on bitcoin. In December, he warned that “Grown men are going to weep when that happens. You will never see a loss of capital like that ever in your life. It will be brutal.” Another elitist loser who can go absolutely fuck himself. Sorry Kevin, but you don't get to go from "bitcoin is absolute garbage" and "will crash to zero", in the span of 2 months, to "bitcoin is great! I'm investing now!" without getting ripped a new one in the court of public opinion. He's just another asshole wealthy elite who got kickbacks for slamming Bitcoin for years, in order to sway Average Joe away from investing in it. FU, Kevin!
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1353
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 01, 2021, 11:12:58 PM
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I read/skimmed the whole paper. Section 5, the last section, that outlines "concerns moving forward" had a doozy right off the bat, very fucking telling about institutional investors: Capital Efficiency: One of the concerns that came up most frequently in the interviews we conducted with industry participants was frustration about the lack of capital efficiency in the way both Bitcoin and other cryptocurrencies are utilized. All of the trading and financing occurring with these cryptocurrencies is pre-funded and often over collateralized. For institutional investors, this means their capital would be effectively locked up. There is no unsecured financing available. Leverage in the system is limited and operates more like a Reg T margin account where participants can only lever their direct account holdings by 100% and no more. At best, a wallet with 10 Bitcoin valued at $40,000 each ($400,000) would only be able to have lending lines equivalent to $800,000 (200% gross) and they would need to leave the $400,000 of Bitcoin they actually own with the entity loaning them the $800,000 as collateral — further reducing their actual leverage. Many institutional investors seek much higher velocity of leverage on their money, often putting down as little as 10% in certain investments in order to have access to a much larger exposure.
No 'unsecured financing' available? Capital locked up? Not enough leverage? Oh the horror! Boo hoo! These fucking greedy, corrupt, sons of bitches... I swear.
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1357
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 01, 2021, 04:17:53 PM
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My calculations show that the correction from 58 400 to 43 000 is 26.3%. This doesn't even qualify for a significant 30%+ correction!
I can't speak for any of the hodlers outside the U.S., but this exactly is why we U.S.-based hodlers continue to just hodl. Here we have to pay 20% long term cap gains tax on btc we sell over a certain amount. So in order to gain any real benefit from trying to sell a top only to buy back lower, the price would have to move at least -30% or more to even see a +10% buyback gain in your btc amount. You'd have to call the top perfectly. And, you would have to time your sell at the very top (impossible) along with your buyback at the very bottom (again, impossible) perfectly. Good luck with that. Chances are, you are going to lose all your gains to the IRS trying to play that game. Easier to just buy and hodl for years and years, and only sell what amount you need, when you need it.
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1359
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: February 28, 2021, 03:52:20 PM
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I liked the almost 60k feeling, I felt rich, now not so much.
Edit: I even started buying soft 4 ply toilet paper, back to the cheap generic recycled stuff again.
I switched to faster internet plan in Dec 2017 because I felt rich, haha. I stopped grumbling about my bi-monthly grocery bill because I felt rich. Now I'm back to grumbling again.
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