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Question: Closing BTC Price June 17:
$0 - 4 (3%)
<$6,500 - 7 (5.3%)
$6,500-$6,750 - 1 (0.8%)
$6,751-$7,000 - 2 (1.5%)
$7,001-$7,250 - 3 (2.3%)
$7,251-$7,500 - 6 (4.5%)
$7,501-$7,750 - 4 (3%)
$7,751-$8,000 - 12 (9.1%)
$8,001-$8,250 - 13 (9.8%)
$8,251-$8,500 - 7 (5.3%)
$8,501-$8,750 - 6 (4.5%)
$8,751-$9,000 - 11 (8.3%)
$9,001,$9,250 - 13 (9.8%)
$9,251-$9,500 - 17 (12.9%)
>$9,500 - 17 (12.9%)
$20,000 - 9 (6.8%)
Total Voters: 132

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21229048 times)
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infofront
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May 22, 2019, 04:32:31 PM
Last edit: May 22, 2019, 04:58:35 PM by infofront

Satoshi knew that once he slipped that blocksize limit into the core client, it would be there forever, and become the de facto standard in all bitcoin software implementations. That's why Garzik and the others were opposed to it at the time. Satoshi said that it was temporary, but he knew enough about game theory to realize 1MB blocks would become a Schelling Point within the bitcoin network if it was left in the core client long enough.

That's simply not true. You're claiming to know the mind of Satoshi in direct opposition with his public statements.

https://bitcointalk.org/index.php?topic=1347.msg15139#msg15139

Quote
We can phase in a change later if we get closer to needing it.

https://bitcointalk.org/index.php?topic=1347.msg15366#msg15366

Quote
It can be phased in, like:

if (blocknumber > 115000)
    maxblocksize = largerlimit

It can start being in versions way ahead, so by the time it reaches that block number and goes into effect, the older versions that don't have it are already obsolete.

When we're near the cutoff block number, I can put an alert to old versions to make sure they know they have to upgrade.

I disagree. He was smart enough to know that by the time a larger blocksize would be perceived as being needed, it would be too late to change it.

Also, he's just pointing out that the blocksize "can" be adjusted.
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JSRAW
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May 22, 2019, 04:32:43 PM

What's the fuss about Theresa May resigning tonight?

No idea, I知 on my third glass of cheap Prosecco & watching a gameshow Cheesy

Enjoy your evening bhai! politics is shitty like game of throne these days anyways.





Lady Hitler? Cheesy
LFC_Bitcoin
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May 22, 2019, 04:35:45 PM

What's the fuss about Theresa May resigning tonight?

No idea, I知 on my third glass of cheap Prosecco & watching a gameshow Cheesy

Enjoy your evening bhai! politics is shitty like game of throne these days anyways.





Lady Hitler? Cheesy


I知 self employed, I pay as little tax as possible. It doesn稚 matter much to me who is in charge of the country. I am very much anti establishment.

Plus when bitcoin moons I値l get away with even more Smiley
Hueristic
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May 22, 2019, 04:37:30 PM

letエs quickly check how sustainable bSV is rewarding miners with fees to secure the network:

Quote
Today's earned fees across Bitcoin forks...

Bitcoin: $1.8M of fees earned by miners
Bitcoin Cash: $461 of fees earned by miners
Bitcoin SV: $16 of fees earned by miners
Bitcoin Gold: $2 of fees earned by miners

Yet the SV blockchain continues. Funny, that.

Looks like a ripe target to me.
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May 22, 2019, 04:37:41 PM

Repeated dishonesty from Samourai have barred them from ever receiving a payout from the bounty as far as I am concerned: I will not be signing a transaction paying them. Evaluating the privacy of systems is difficult even when the involved parties are honest and easy to work with, it is far too difficult when they are actively misleading.  Personally, I would urge my friends to not use that wallet.
snip~
ymmv

DYOR Dude!

I did it for him in the post above yours. Wink

thank you! more stuff for privacy DYOR:

https://grin-tech.org
https://github.com/mimblewimble/docs/wiki/Getting-Started-With-Grin%3A-Links-and-Resources
https://medium.com/@grincoin/where-to-buy-grin-coins-2ba6bbff2387
https://howtobuygrin.com

EDIT: of course only w/o "Mandatory KYC"!
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May 22, 2019, 04:38:26 PM
Merited by criptix (1)

Europol, Dutch and Luxembourg authorities clamp down on crypto mixing service Bestmixer.io

Quote
Today, the Dutch Fiscal Information and Investigation Service (FIOD), in close cooperation with Europol and the authorities in Luxembourg, put an end to cryptocurrency mixing service Bestmixer.io. The investigation resulted in the seizure of six servers in the Netherlands and Luxembourg.

The Dutch FIOD has gathered information on all the interactions on this platform in the past year. This includes IP-addresses, transaction details, bitcoin addresses and chat messages. This information will now be analysed by the FIOD in cooperation with Europol and intelligence packages will be shared with other countries.

https://financefeeds.com/europol-dutch-and-luxembourg-authorities-clamp-down-on-crypto-mixing-service-bestmixer-io/



Any source from dutch government or europol?

Cant find much infos on this seizure.

One more > https://www.fiod.nl/the-fiod-and-the-public-prosecution-service-take-money-laundering-machine-for-cryptocurrencies-offline/
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May 22, 2019, 04:43:58 PM

200 mm in turnover would make the monero blockchain the size of a planet
probably Jupiter

anyway, forgot myself there for a moment, shilling core-tard things, wtf
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May 22, 2019, 04:48:54 PM

letエs quickly check how sustainable bSV is rewarding miners with fees to secure the network:

Quote
Today's earned fees across Bitcoin forks...

Bitcoin: $1.8M of fees earned by miners
Bitcoin Cash: $461 of fees earned by miners
Bitcoin SV: $16 of fees earned by miners
Bitcoin Gold: $2 of fees earned by miners

Yet the SV blockchain continues. Funny, that.

Looks like a ripe target to me.
What happened to "Satoshi" mining Bcash or bsv to do a 51% attack?
Hueristic
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May 22, 2019, 04:49:46 PM
Merited by Toxic2040 (1)

200 mm in turnover would make the monero blockchain the size of a planet
probably Jupiter

anyway, forgot myself there for a moment, shilling core-tard things, wtf

I would respond to this with arguments about bulletproofs and pruning that have already happened but I agree this is not the place to shill. There are 2 coins as far as I am concerned that are not shitcoins and in a few years possibly one more. Crypto evolves, that is what it does, stagnation is death in crypto and anyone that doesn't know that shouldn't even be involved in the first place.

Feel free to vet that comment with any BTC Dev you want.
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May 22, 2019, 04:51:42 PM

letエs quickly check how sustainable bSV is rewarding miners with fees to secure the network:

Quote
Today's earned fees across Bitcoin forks...

Bitcoin: $1.8M of fees earned by miners
Bitcoin Cash: $461 of fees earned by miners
Bitcoin SV: $16 of fees earned by miners
Bitcoin Gold: $2 of fees earned by miners

Yet the SV blockchain continues. Funny, that.

Looks like a ripe target to me.
What happened to "Satoshi" mining Bcash or bsv to do a 51% attack?

Yeah, Lol the hash war. That was an amusing side show for a while. they do come up with all sorts of parlor tricks to keep their shitshows on the road. Smiley

OK, gotta get something accomplished today. l8r all Smiley
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May 22, 2019, 05:00:03 PM
Last edit: May 22, 2019, 05:12:03 PM by JayJuanGee


 Cool

LOL !! Cheesy

I think, I just triggered you guys by saying that name. You hate him more than me ! I guess we are on the same train here.

Well yeah... you just seem to have started off on the wrong foot, because some of the Craig Wright bullshit is just wearing on people to put up with more than 2 years of his drama seeking bullshit that allows him to get attention and likely influence dumb money.. and even to temporarily fool some smarter people..

So, you are right that we are not generally "dumb money" in this thread, but there continues to be a decent amount of trolling and shilling here that sometimes will cause members to go into an attack mode if a newbie member, such as yourself, presents in a seemingly troll/shill-ish way.
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May 22, 2019, 05:05:14 PM

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[...] and intelligence packages will be shared with other countries.
Based on the combination of Dutch government and computers, these intelligence packages can only mean 270KB  5 1/4 floppy disks.

ONE year to bitcoin supply halving. Every dip in the next 12 months could be the last chance!
JSRAW
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May 22, 2019, 05:08:07 PM

What's the fuss about Theresa May resigning tonight?

No idea, I知 on my third glass of cheap Prosecco & watching a gameshow Cheesy

Enjoy your evening bhai! politics is shitty like game of throne these days anyways.





Lady Hitler? Cheesy


I知 self employed, I pay as little tax as possible. It doesn稚 matter much to me who is in charge of the country. I am very much anti establishment.

Plus when bitcoin moons I値l get away with even more Smiley

Same but taxpayer " little tax theft here and there" middle-class mentality.

Cares about who is in charge of the country "for me Vote value more than Indian Rupee" recently voted in world biggest voting festival. results coming tomorrow.

Some time Anti-establishment, sometimes not "depends on the merit"
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May 22, 2019, 05:08:44 PM
Merited by JayJuanGee (1), Toxic2040 (1)

Even if you have a good plan and you largely follow your plan, there can still be a decent amount of trepidation during the process of the BTC price going UP like a bat out of hell...

-snip-

So build the shaving/skimming into the plan. That's all I'm saying.

This is Bitcoin. If your plan does not consider the possibility that the price overshoots by at least an order of magnitude more than you -- in your wildest dreams -- would dare to hope, then u r doing it rong.


Absolutely... while I would be highly surprised to see 6 digits anytime soon, my plan does allow for prices all the way up to 1MM.   (( past 1MM.. its just a snarky notation that says "hookers and blow"  Grin ))

I have absolutely zero trepidation following my plan..  

Let your logical self make the plan..  then when the price goes bonkers, your emotional self can trust that your logical self knew what he was doing and you can just sit back and enjoy the ride..  

worked for me just fine in 2017.

Does your plan say that you are going to run out of BTC at $1million?  Or will you have some left?

Sometimes I play around with my BTC price trajectories, and I recall that when the BTC price was in the triple digits, my trajectories only went a bit above $10k, but as the BTC price continued to go up, I expanded some of my trajectories to go to further prices, and some of that is merely cut and paste and others just update to go to BIGGER numbers once I change the base numbers in the fields (the where the BTC price is at numbers).  

I have no fucking idea about whether BTC prices will even come close to the upper ends of my current price trajectories, but still in 2017, BTC prices easily surpassed my earlier versions of my BTC price trajectories.  I just looked back and I see that my more bullish and forward looking trajectories only went to $5k when the BTC price was in three digits, and as the BTC price went up, my inputing of new numbers into the formula such as then current price and then current BTC holdings would cause the trajectory to adjust upwards, but still in 2017 the BTC price seemed to be wildly outpacing my BTC price trajectories  and I had to adjust the shown BTC prices therein to keep up with BTC's price movement, and also consider whether my trajectories were matching up with how things were actually playing out in terms of my cash flow..

One of my questions to myself during that time was whether what I was doing was in the ballpark of my BTC price trajectories, even though in earlier times the trajectories had seemed pie in the sky, theoretical and even crazy to some people, my question to myself was to match whether they were being played out in the ballpark of my plan(s).
 
Anyhow, when BTC prices went to nearly $20k it became justifiable that my BTC price projections should go at least to $100k, and there was one point, in recent times that I thought that it would not hurt to copy and paste my formula to see how the BTC price trajectory plays out in a further out upwards BTC price projection, just in case.. let's see how $500k looks..  

Sometimes the way that I talk about what I am doing is weird, too.  For example, I will say that my formula just continues to incrementally sell about 1% of my BTC stash for every 10% price rise, but at a certain point, even though the practice shows that I should continue to sell BTC and accumulate fiat, the ratio of fiat value to BTC value does not really come down very much, even while it is continuing to build fiat and to diminish my BTC holdings, and it seems that I kind of get stuck into the 90% BTC to 10% fiat ratio territory....  

but if I look back in the price trajectory at my BTC holdings today and compare them to my projected BTC holdings at various price points, I will see that if BTC prices were to make $500k, I would have sold a bit more than 30% of the quantity of my today's bitcoin holdings.  Even though I did not cut and paste further data, I am sure that the numbers are not much different in the event that BTC prices were to get up to $1million.

The sell off ratio continues to maintain about a 90% BTC to 10% fiat ratio, which seems to cause an ongoing generation of a lot of fiat, and during that process my BTC widdles away so slowly that it is maintaining the decently large base of about 90% - even if I look at it more closely over the whole stretch, and I will see from the earlier times, I had sold about 30% of my stash from the earlier days (kind of assuming that the price goes straight up rather than buying some BTC back upon price drops), so at some points, it looks like these kinds of projected rises in BTC prices causes me (and likely many other BTC hodlers) to become quite rich.. and maybe even too rich overall.

Anyhow, BTC prices going up causes "good problems to have" for HODLers, and I am thinking that I will have to figure out ways to spend so much excess money (again a good problem to have, if BTC prices play out in that upwards direction)...  

I think this thread has a saying "never go full fiat" .. I have taken that to heart.. Even at $1million, I'm not anywhere near full fiat.   I just haven't yet put any thought into how I'll modify the formulas past that point.  

From reading all of the above, it looks like we have _scarily_ similar thought processes on this concept as a whole.  

I've found the same phenomenon with the BTC to Fiat percentages, although, mine seems to stabilize around 80% BTC to 20% fiat...  "Fiat" in this case is shorthand for "diverse portfolio of stocks, bonds, property, cash equivilants, etc..."  

Amazingly, the stabalization point for me seems also to be around $500k.  I'd honestly be rather interested in finding out if any other WO posters are seeing the same with their long term plans...

And yes, I agree with your quandry of figuring out ways to spend excess money. I call this my "hookers and blow" stage.. not to be taken literally of course.

I figure if/when BTC ever hits about $250k, then I'll take the time to extend the planning out past a million. I just can't in good faith put serious thought to that at the moment, cuz I'm sure once the point arrives where I really don't have to worry about finances for the rest of my life, I won't be exactly the same person I am now...

Ugg. heavy thoughts..  
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May 22, 2019, 05:13:19 PM
Merited by infofront (1), VB1001 (1), hodl_2015 (1)



Holy shieeet

You are not anonymous bruh!

Wearing my hat back.

thats why i never bothered with mixers or even trying to hide my purchases made with btc at newegg or for PMs and reported those purchases on my taxes as they were taxable events. and i dont worry about KYC at the two exchanges i use as fiat on/off ramps. btc is not anonymous and i never treated it as such.

((they)) may not be able to trace some transactions and link them to people now, but i am certain they will be able to do so to a large extent in the future. they will be able to go back as far as they want as its all public anyway. and i would rather not have the IRS, or whoever, make my life miserable down the road.
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May 22, 2019, 05:31:18 PM

thats why i never bothered with mixers [...]
Tax in Netherlands is just 1.2% per year of the Jan 1st "value", nothing on actual gains. Never used a mixer but I assume they charge more than 1.2%. Looks like they spend a year collecting information about really dumb people.
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May 22, 2019, 05:35:23 PM



Holy shieeet

You are not anonymous bruh!

Wearing my hat back.

thats why i never bothered with mixers or even trying to hide my purchases made with btc at newegg or for PMs and reported those purchases on my taxes as they were taxable events. and i dont worry about KYC at the two exchanges i use as fiat on/off ramps. btc is not anonymous and i never treated it as such.

((they)) may not be able to trace some transactions and link them to people now, but i am certain they will be able to do so to a large extent in the future. they will be able to go back as far as they want as its all public anyway. and i would rather not have the IRS, or whoever, make my life miserable down the road.

Yep, tax office depending on jurisdiction has like 10 to 20 years time to jail you for dodging taxes.

Via chain analysis and kyc on exchanges .gov will know what you do, hard to escape this.
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May 22, 2019, 05:36:21 PM
Merited by VB1001 (1), MrFreeRoMan (1)

Good morning.




#dyor
1h

#stronghands
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what is this "brake pedal" you speak of?


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May 22, 2019, 05:40:20 PM

thats why i never bothered with mixers [...]
Tax in Netherlands is just 1.2% per year of the Jan 1st "value", nothing on actual gains. Never used a mixer but I assume they charge more than 1.2%. Looks like they spend a year collecting information about really dumb people.

in the USA we pay capitol gains on the difference in price when bought vs when sold. so i actually like having a very simple straight forward way to match my coins for tax purposes. there are a few different ways to do it, last in 1st out; 1st in 1st out etc. it can make a big difference in what you pay.
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May 22, 2019, 05:42:46 PM

Hehe finally first tournament starting here, but but few other playing scoops as well Roll Eyes
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