Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[jojo69]

yo dawg, I heard you like tungsten

I put some tungsten in your tungsten

[1560795020]

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[Pamoldar]

Meanwhile in the animal planet

[JayJuanGee]

Remind yourself that less than 1% of the world has even touched bitcoin and crypto.

You took the risk.
You made that leap.
You are now an early adopter.
You reap the rewards.

This isn't about just next year, but for the next decade.

I daren’t even dream about what 1 bitcoin will be worth in 10 years

Then let me tell you.

Roughly around 10 000 000 USD in December.

EDIT: December 2029 that is.

1 million USD after next three halvings is a *conservative* target IMO.

Indeed, that's why I wrote 10 million.

Yeah.. great set of questions and presumptions that this dialogue raises.

At this time, $1million to $10million seems like pie in the sky, but by December 2029?  $1million does seem conservatively pie in the sky.. and really, if $1million were to happen, then a lot of folks, maybe even in this thread with current living style expectations would not need to have much more than 1 bitcoin to improve their lives a lot.   

Of course, we are going to continue to have dollar inflation, and frequently, I have asserted that a couple million of principle would be necessary for me to feel comfortable with the passive income would be generatable under that (or at least presuming a reasonable withdrawal rate of 4% per year - and $2 million in principle would generate about $6.67k per month in passive income - based on 4% withdrawal (that is $2 million x 4% = $80k / 12 months).  So even 1 or 2 bitcoins should be enough to generate between $3,333 per month and $6,667 per month of passive income by 2029 if the conservative estimate is actually "reasonably" probable.

Personally, my BTC accumulation and HODL strategy has always been to invest quite a bit more into BTC than I believe to be reasonably probable outcomes, just in case the "conservative estimate" does not end up playing out as expected, which does justify accumulating as much BTC as I am able to accumulate (to have a equity and piece of mind cushion), but also does generate a bit of comfort for anyone who can reasonably foresee a BTC target of 20 bitcoins or more (by 2029) because 20 bitcoins would be 10x the "conservative estimate" and 20 bitcoins would provide a decent cushion, especially if a person has a 10 year horizon (a 2029 time target) for attempting to cash out and to live passively on such BTC income (even if the BTC income is supplementing other projections of income).

Of course, how much some normal and regular person believes s/he needs to live comfortably off of bitcoin along with supplementing any other income that s/he is projected to have is going to vary.  I have continued to consider that $1million to $2million to be a decently reasonable entry point - even though results are going to vary in terms of what part of the world you live, what other income sources you expect to have, how much inflation you expect, how much of a cushion you feel that you need, how long you expect to live (after you start withdrawing from your BTC stash) and perhaps some other personal factors.

[VB1001]

Governments  > Corrupt
Banks            > Scammers
Money           > Devaluation

Buying Bitcoin is the only solution.

The article is by Martin Mühleisen 2018 (Director of the Strategy, Policy and Review Department (SPR) of the IMF), but the image is the reality of Bitcoin, past , present and future.

https://www.imf.org/external/pubs/ft/fandd/2018/06/index.htm

[JayJuanGee]

Today I made a hat, which I called "to the moon". I would be glad if someone would wear it. Due to the fact that my laptop is weak in performance, it’s not quite what I want to do.
 
Avatar:

Surely chipping away at the hat-making monopoly (cartel) that currently exists with very competitive products.  It's almost like Korea's car manufacturers become as good as the Japanese cars.. but it takes time.    hahahahahaha  

Although you lost bones as one of your customers... perhaps a bit of marketing to convince folks that animation is better than non-animation...   and dissuade them from their getting "dizzy" ideas.  I would likely convert to animated, if someone, anyone would custom tailor an animated version of my avatar... .. that is because I suffer from animation envy, and my actual avatar is full of earlier adopter beta version limitations.  

[Pamoldar]

Another dipshit looking to rebuy at $1500? Go suck Gembitz's dick! WEEEEEEEEEEEEEEEEEE!

Excuse me?

[Pamoldar]

Governments  > Corrupt
Banks            > Scammers
Money           > Devaluation

Buying Bitcoin is the only solution.

The article is by Martin Mühleisen 2018 (Director of the Strategy, Policy and Review Department (SPR) of the IMF), but the image is the reality of Bitcoin, past , present and future.

https://www.imf.org/external/pubs/ft/fandd/2018/06/index.htm

[JayJuanGee]

LTC is on the move..
you know who is next  

I wish I bought more ltc while it was around $30. People said LTC is dead it is just a copy of Bitcoin and that was in 2015 when ltc was $2-5. It went as high as $350. A fucking x100. (BTC did the same too... from 200 to 20k. Another x100)

Maybe it is a shitcoin, maybe it doesn't have any real development but I am damn sure It is not going down like peercoin or namecoin.

Anyway I didn't buy enough LTC but I still have the chance to buy more BTC, first thing in the morning throwing another $100  

Yes I see the move. Boring 😛

Yeah, for some reason, several LTC bag hodler posters want to attempt to proclaim some kind of connection between bitcoin's price performance and LTC (with this most recent stupid-ass theory that LTC is leading BTC's price performance    ) and therefore post about that largely irrelevant bullshit here.   

[bitserve]

Today I made a hat, which I called "to the moon". I would be glad if someone would wear it. Due to the fact that my laptop is weak in performance, it’s not quite what I want to do.



Avatar:

That's probably the nicest non xhomerx original I have seen. Congrats.

[bitserve]

LTC is on the move..
you know who is next  

I wish I bought more ltc while it was around $30. People said LTC is dead it is just a copy of Bitcoin and that was in 2015 when ltc was $2-5. It went as high as $350. A fucking x100. (BTC did the same too... from 200 to 20k. Another x100)

Maybe it is a shitcoin, maybe it doesn't have any real development but I am damn sure It is not going down like peercoin or namecoin.

Anyway I didn't buy enough LTC but I still have the chance to buy more BTC, first thing in the morning throwing another $100  

Yes I see the move. Boring 😛

Yeah, for some reason, several LTC bag hodler posters want to attempt to proclaim some kind of connection between bitcoin's price performance and LTC (with this most recent stupid-ass theory that LTC is leading BTC's price performance    ) and therefore post about that largely irrelevant bullshit here.  

If I wouldn't believe in that connection I wouldn't have bought my LTC stash when I did (pre-segwit). And no, it is not that BTC follows LTC, that's ridiculous... It's just that some movements seem to be more evident / earlier on LTC.

[Last of the V8s]

https://twitter.com/brian_trollz/status/1094673219968253955
thread oh about the next UASF
nb it's not just Lukejr advocating

[StartupAnalyst]

This is the first meme in the style of a Rocket.

Sorry for the quality but the forum does not show a file larger than 3Mb...  

[HairyMaclairy]

https://twitter.com/brian_trollz/status/1094673219968253955
thread oh about the next UASF
nb it's not just Lukejr advocating

Reluctant to give this too much airtime because it will just bring out the trolls.

They are hypothesizing about a collapse in hash rate due to reduction in miner awards at sone future unknown date. So they want to take radical action now to reduce the block size to 300kb. But the hash rate is near ATH.  

It’s hard not to interpret this as just a miner money grab.  Don’t fix what ain’t broke.  Focus on Schnorr and Lightning and other important shit.

I have zero enthusiasm for more block size wars.  If an urgent need develops in the future let’s look at it then.  We don’t need to take radical action to fix theoretical future problems now.

[Last of the V8s]

it's much more about the mesh network stuff, keeping the chain size down. the fee market problems are way off
i agree it's early even for that former though

[Toxic2040]

Good afternoon all.

Consolidation has dominated the market place as bitcoin continues to trade in a narrow range. The price has stalled in the $3.6k area after having a significant $300+ gain on Friday. I believe that the coming week will see increased volatility and price action as the Bulls try to capitalize on the growing feeling that the bottom has been sighted. Especially worth noting is the weekly chart, which is still showing continued room for significant upside recovery if resistance at $3.68k can be broken. #dyor

1h


D


W

#stronghands'19

[bitserve]

https://twitter.com/brian_trollz/status/1094673219968253955
thread oh about the next UASF
nb it's not just Lukejr advocating

Reluctant to give this too much airtime because it will just bring out the trolls.

They are hypothesizing about a collapse in hash rate due to reduction in miner awards at sone future unknown date. So they want to take radical action now to reduce the block size to 300kb. But the hash rate is near ATH.  

It’s hard not to interpret this as just a miner money grab.  Don’t fix what ain’t broke.  Focus on Schnorr and Lightning and other important shit.

I have zero enthusiasm for more block size wars.  If an urgent need develops in the future let’s look at it then.  We don’t need to fix theoretical non-existent problems now.

That's the problem with having nocoiner devs. They don't fucking understand nor care about economics.

* Which doesn't mean they are not great DEVS.

[HairyMaclairy]

it's much more about the mesh network stuff, keeping the chain size down. the fee market problems are way off
i agree it's early even for that former though

I have yet to see a convincing argument that the current system is broken.  It’s all pie in the sky stuff.  

Lighting will keep the chain size down.  Just give it a chance.

[Last of the V8s]

I'm not advocating, just pointing it out, but I don't see this push going away.

[machasm]

it's much more about the mesh network stuff, keeping the chain size down. the fee market problems are way off
i agree it's early even for that former though

I have yet to see a convincing argument that the current system is broken.  It’s all pie in the sky stuff.  

Lighting will keep the chain size down.  Just give it a chance.

I don’t think we need to worry too much about this at this point either.
I appreciate the forward thinking but believe that we need to allow BTC to mature before we look at doing anything with block sizes which might further jeopardise BTC’s adoption.
Give LN a chance to get further established and see where we are at a bit further down the road.
Who knows, someone might come up with a better idea than reducing block size to incentivise miners?

[P_Shep]

it's much more about the mesh network stuff, keeping the chain size down. the fee market problems are way off
i agree it's early even for that former though

I have yet to see a convincing argument that the current system is broken.  It’s all pie in the sky stuff.  

Lighting will keep the chain size down.  Just give it a chance.

I don’t think we need to worry too much about this at this point either.
I appreciate the forward thinking but believe that we need to allow BTC to mature before we look at doing anything with block sizes which might further jeopardise BTC’s adoption.
Give LN a chance to get further established and see where we are at a bit further down the road.
Who knows, someone might come up with a better idea than reducing block size to incentivise miners?

If miners go out of business due to block reward reduction, then that's down to their poor planning. It's not like the reductions and the timing of them hasn't been clearly laid out 10 years ago.