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

[El duderino_]

Bitcoin, last month:

- Hashrate reaches ATH
- SegWit usage hits ATH
- US President tweets about it
- Congress tries to stop Libra
- Fed compares it to gold
- Bakkt user testing
- Congressman calls it "unstoppable"
- Iran legalises mining
- Bank of China posts bitcoin article

https://twitter.com/Rhythmtrader/status/1156993714247622658?s=20

Gogogo BTC

[HairyMaclairy]

And yeah you want to enjoy the good things while you're young, not when you are a washed up hulk at 50. :-)

Yeah young and poor is ok.  Rich and old is ok. Old and poor, not so much.

[bones261]

And yeah you want to enjoy the good things while you're young, not when you are a washed up hulk at 50. :-)

Yeah young and poor is ok.  Rich and old is ok. Old and poor, not so much.

50 is not "old."  50 is "middle aged." Also, being poor sucks at any age. I know from experience. (Although I am supposedly not poor but lower middle class. Sill sucks.)

[HI-TEC99]

And yeah you want to enjoy the good things while you're young, not when you are a washed up hulk at 50. :-)

Yeah young and poor is ok.  Rich and old is ok. Old and poor, not so much.

50 is not "old."   50 is "middle aged." Also, being poor sucks at any age. I know from experience. (Although I am supposedly not poor but lower middle class. Sill sucks.)

When Bitcoin hits a new post halving ATH your new wealth will advance you to upper upper lower middle class.

[mindrust]

And yeah you want to enjoy the good things while you're young, not when you are a washed up hulk at 50. :-)

Yeah young and poor is ok.  Rich and old is ok. Old and poor, not so much.

50 is not "old."   50 is "middle aged." Also, being poor sucks at any age. I know from experience. (Although I am supposedly not poor but lower middle class. Sill sucks.)

When Bitcoin hits a new post halving ATH your new wealth will advance you to upper upper lower middle class.

You can't really say that. That really depends on his BTC numbers.

He may advance to high class as well.

$100-300k net worth is what I'd consider low mid class (that's probably where he is right now) Not poor, but not exactly rich neither. Can't spend his shit as he likes which is a tight situation.

A x10 increase in BTC may push him to "high class" if he is %100 btc right now. $200k > $2m.

>$1m  net worth is what I would call, "high class"

$500k-$1m, upper mid
$300k-500k, mid
$100k-$300k, lower mid
<$100k, pretty much poor

That's how I think it anyway.

[El duderino_]

Bitcoin, halvening and Plan B appear on the Sun!

https://www.thesun.co.uk/tech/9634852/bitcoin-price-rise-85-all-coins-mined/

Funny picture caption thou:



They put hard disk mining bitcoin? Really?

WO CONTEST: Best dialogue between the two blokes in front of the "hard disk" wall wins 2 merits!

Ok I start the contest.

"What the hell, we have thousand of Hard disk and still didn't find a single Bitcoin"
"Told you not to trust those chinese stuff".

Not very funny, I bet you can do better!

(funny HaiKu dialogue gests 4 merits)

Hard disks to mine "Corn"
GTFO, watching homeland season 7....
20 K Corn ransom asked!

First lame attempt

[mindrust]

hey rich kids, did you ever shoot up an AR 15 into a TSLA battery? oh my god... I get it why it's not on abrams... .

you have no idea what I am talking about... be safe with a stone rebound under your EV...

it's just madness... how corrupt they are... and you most of you, will be glad to pimp your hoe in your EV until you fry like turkey ....

ev with LIPO = Fucking unsafe... watch the vid, it's mind blowing...

the energy major win this round... at least with lipo...

you read it here first, but it was on AJZH

Talking about this?
https://www.zerohedge.com/news/2019-08-02/these-products-are-defective-yet-another-family-sues-tesla-over-yet-another-fatal-0

Nobody can make me buy that shit.
https://bitcointalk.org/index.php?topic=178336.msg51986569#msg51986569

[HairyMaclairy]

Hairy Bitcoin Price Forecast for the month of August 2019

Boring, dull, slow, and for the most part, a cliche and lifeless adventure. Brief periods of terror.

Rated PG-13: Parents Strongly Cautioned – Some material may be inappropriate for children under 13.

[El duderino_]

Hairy Bitcoin Price Forecast for the month of August 2019

Boring, dull, slow, and for the most part, a cliche and lifeless adventure.  Brief periods of terror.

Rated PG-13: Parents Strongly Cautioned – Some material may be inappropriate for children under 13.

F*** my awesome evening a serie watching is getting a crack, FML

[HI-TEC99]

And yeah you want to enjoy the good things while you're young, not when you are a washed up hulk at 50. :-)

Yeah young and poor is ok.  Rich and old is ok. Old and poor, not so much.

50 is not "old."   50 is "middle aged." Also, being poor sucks at any age. I know from experience. (Although I am supposedly not poor but lower middle class. Sill sucks.)

When Bitcoin hits a new post halving ATH your new wealth will advance you to upper upper lower middle class.

You can't really say that. That really depends on his BTC numbers.

He may advance to high class as well.

$100-300k net worth is what I'd consider low mid class (that's probably where he is right now) Not poor, but not exactly rich neither. Can't spend his shit as he likes which is a tight situation.

A x10 increase in BTC may push him to "high class" if he is %100 btc right now. $200k > $2m.

>$1m  net worth is what I would call, "high class"

$500k-$1m, upper mid
$300k-500k, mid
$100k-$300k, lower mid
<$100k, pretty much poor

That's how I think it anyway.

You must be joking.

>$1m net worth is upper lower lower middle class.

>$10m net worth is upper upper lower middle class.

>$20m net worth is lower lower upper middle class.

>$50m net worth is lower lower upper class.

>$100m net worth is upper upper class.

>$1000m net worth is upper upper upper class.

[mindrust]

And yeah you want to enjoy the good things while you're young, not when you are a washed up hulk at 50. :-)

Yeah young and poor is ok.  Rich and old is ok. Old and poor, not so much.

50 is not "old."   50 is "middle aged." Also, being poor sucks at any age. I know from experience. (Although I am supposedly not poor but lower middle class. Sill sucks.)

When Bitcoin hits a new post halving ATH your new wealth will advance you to upper upper lower middle class.

You can't really say that. That really depends on his BTC numbers.

He may advance to high class as well.

$100-300k net worth is what I'd consider low mid class (that's probably where he is right now) Not poor, but not exactly rich neither. Can't spend his shit as he likes which is a tight situation.

A x10 increase in BTC may push him to "high class" if he is %100 btc right now. $200k > $2m.

>$1m  net worth is what I would call, "high class"

$500k-$1m, upper mid
$300k-500k, mid
$100k-$300k, lower mid
<$100k, pretty much poor

That's how I think it anyway.

You must be joking.

>$1m net worth is only upper lower lower middle class.

>$50m net worth is only upper class.

>$100m net worth is upper upper class.

>$1000m net worth is upper upper upper class.

I don't know where you live but in where I live you are pretty much rich with a million bucks.

Of course there are factions in high class too.

I didn't say $1m is the upper high, but that's the starting point, that's where the fun begins. Even though It doesn't mean anything to many people like you nowadays, the dictionary says you are a HNWI  if you have >= $1m.

Apparently investopedia agrees with me:
https://www.investopedia.com/terms/h/hnwi.asp

TLDR: If you have more than a million bucks, (depending on where you live) you don't have to work for the rest of your life. (that's how I define "rich", not having to work)

[HI-TEC99]

You must be joking.

>$1m net worth is only upper lower lower middle class.

>$50m net worth is only upper class.

>$100m net worth is upper upper class.

>$1000m net worth is upper upper upper class.

I don't know where you live but in where I live you are pretty much rich with a million bucks.

Of course there are factions in high class too.

I didn't say $1m is upper high, but that's the starting point. Even though It doesn't mean anything to many people like you nowadays, the dictionary says you are a HNWI  if you have >= $1m.

Apprently investopedia agrees with me:
https://www.investopedia.com/terms/h/hnwi.asp

A $1m is shit nowadays. You need at least $3m to live a modest lifestyle for the rest of your life.

Maybe it could be argued that >$1m net worth is upper upper upper lower middle class, but that's pushing it.

[Biodom]

You must be joking.

>$1m net worth is upper lower lower middle class.

>$10m net worth is upper upper lower middle class.

>$20m net worth is lower lower upper middle class.

>$50m net worth is lower lower upper class.

>$100m net worth is upper upper class.

>$1000m net worth is upper upper upper class.

Sorry to barge in, but it is not a valid classification, afaik.
Here is a much better one:

https://www.accountingweb.com/practice/clients/understanding-the-five-categories-of-wealth

Bitcoin OGs are "High Asset, Low Cash Flow" Wealth.
Many/some of them are probably "Under the Radar" category.

Upon btc reaching 100K OGs would probably seek to transition from "High Asset, Low Cash Flow" to "High Asset, High Cash Flow".
Maybe this is when staking coins would surge, or, maybe, this is when OGs would start buying apartments en masse.

Another classification: $1-3 mil affluent; $3-10mil wealthy; above $10mil-rich.
In US in a larger, but not most expensive city, you have to have $3mil minimally to maintain a middle class lifestyle while not working. i guess you can call such person as wealthy enough not to worry about earning a living. Not really rich, though. Ronaldo earns 800K with one instagram endorsement post. Shaq earns 60mil/year by doing commercials. That's a high cash flow, lol.

[JayJuanGee]

And yeah you want to enjoy the good things while you're young, not when you are a washed up hulk at 50. :-)

Yeah young and poor is ok.  Rich and old is ok. Old and poor, not so much.

50 is not "old."   50 is "middle aged." Also, being poor sucks at any age. I know from experience. (Although I am supposedly not poor but lower middle class. Sill sucks.)

Hopefully you have been dollar cost averaging into bitcoin, bones.  I recall a few years ago you were claiming that you could not really accumulate bitcoin, and you even suggested that your total stash was less than a bitcoin.  Hopefully you have taken meaningful efforts at remedying that situation to increase your BTC holdings to such a level that it is at least more than 1 BTC... but we have other relatively OG members who are also struggling to get to 10 BTC... each of us has to just do what we can do under our own circumstances, so even if we are only able to accumulate .1BTC or some smaller amount, at least we have attempted to take some kind of meaningful position in bitcoin and also to continue to DCA to our ability and to accumulate, too.

[edited out]

When Bitcoin hits a new post halving ATH your new wealth will advance you to upper upper lower middle class.

You can't really say that. That really depends on his BTC numbers.

He may advance to high class as well.

$100-300k net worth is what I'd consider low mid class (that's probably where he is right now) Not poor, but not exactly rich neither. Can't spend his shit as he likes which is a tight situation.

A x10 increase in BTC may push him to "high class" if he is %100 btc right now. $200k > $2m.

>$1m  net worth is what I would call, "high class"

$500k-$1m, upper mid
$300k-500k, mid
$100k-$300k, lower mid
<$100k, pretty much poor

That's how I think it anyway.

Mindrust:  I believe that your starting point, regarding wealth, is starting out a bit too high.

There are people who live paycheck to paycheck and have not accumulated much if any wealth, beyond some mere personal possessions, and there are also a decent number of people who have a negative networth, so in that regard, their debts are greater than their assets, even a decent number of older people are in such a negative networth situation.

Hey, I started investing since I was in highschool, and I had accumulated some lower levels of networth for my first 10 years or so out of highschool, and when I went back to college, I continued to attempt to invest money from interest free student loans and things like that, but I was also investing in myself and my skill sets.  I look back and I was negative networth for several years, even though I was more than 10 years out of highschool and living on my own during that time.  I think that i must have gotten some lucky breaks, because I never really pursued money making avenues, but I did end up landing some decent jobs, too, which magnified my ability to invest and to transition my networth into the positive. 

I know a lot of people who do not even come close to me in terms of their abilities to live within their means and to be frugal and to concentrate on investing ever since I was fresh out of highschool.  Overall, my investments had mediocre returns of in the average of 5.5%, but surely those investments were still there. 

Surely bitcoin provides a great opportunity that was not even close to being present in my youth.  Really figuring out a kind of decent and prudent self-managed investing asset would have really likely caused me to invest in something like bitcoin, but there was nothing really like it.

We know the saying that "you gotta be in it to win it," and surely such a concept is true with bitcoin, and there also has to be some self-control too, to be able to manage the asset, if it becomes a real high portion of you wealth by going up in price 10x or more.

[HI-TEC99]

In US in a larger, but not most expensive city, you have to have $3mil minimally to maintain a middle class lifestyle while not working.

I heard that in posh areas of San Fransisco you would be lucky to get this for $1m.

[mindrust]

In US in a larger, but not most expensive city, you have to have $3mil minimally to maintain a middle class lifestyle while not working.

I heard that in posh areas of San Fransisco you would be lucky to get this for £1m.

Why would anyone live in that (overpriced) poo city?


https://www.zerohedge.com/news/2019-04-16/behold-shit-map-mapping-san-franciscos-132562-cases-human-feces

I'd rather live in Spain, good beaches, exotic girls, hot and sunny too... most importantly not overpriced.

[HI-TEC99]

You must be joking.

>$1m net worth is upper lower lower middle class.

>$10m net worth is upper upper lower middle class.

>$20m net worth is lower lower upper middle class.

>$50m net worth is lower lower upper class.

>$100m net worth is upper upper class.

>$1000m net worth is upper upper upper class.

Sorry to barge in, but it is not a valid classification, afaik.
Here is a much better one:

https://www.accountingweb.com/practice/clients/understanding-the-five-categories-of-wealth

That's not valid. Here's a much better classification based on Homer Simpson's description of his family as "upper lower middle class" and Lisa's description of her family as "upper lower lower middle class".

https://www.vox.com/2016/9/6/12752476/the-simpsons-homer-middle-class

[Biodom]

In US in a larger, but not most expensive city, you have to have $3mil minimally to maintain a middle class lifestyle while not working.

I heard that in posh areas of San Fransisco you would be lucky to get this for £1m.

image clipped

Not in Sanfran, but those are (900K-1mil, small, but OK to live in):
https://www.zillow.com/san-francisco-ca/?searchQueryState={%22pagination%22:{},%22mapBounds%22:{%22west%22:-122.5751212973633,%22east%22:-122.29153670263673,%22south%22:37.63662788292032,%22north%22:37.9136954367416},%22usersSearchTerm%22:%22san%20francisco%22,%22regionSelection%22:[{%22regionId%22:20330,%22regionType%22:6}],%22isMapVisible%22:true,%22mapZoom%22:12,%22filterState%22:{%22price%22:{%22min%22:900000,%22max%22:1000000},%22monthlyPayment%22:{%22min%22:3308,%22max%22:3675}},%22isListVisible%22:true}

[HI-TEC99]

In US in a larger, but not most expensive city, you have to have $3mil minimally to maintain a middle class lifestyle while not working.

I heard that in posh areas of San Fransisco you would be lucky to get this for $1m.

image clipped

Not in Sanfran, but those are (900K-1mil, small, but OK to live in):
https://www.zillow.com/san-francisco-ca/?searchQueryState=

But it's a picture of a brick toilet (shithouse). Who wants to live in a brick shithouse?

[Biodom]

You must be joking.

>$1m net worth is upper lower lower middle class.

>$10m net worth is upper upper lower middle class.

>$20m net worth is lower lower upper middle class.

>$50m net worth is lower lower upper class.

>$100m net worth is upper upper class.

>$1000m net worth is upper upper upper class.

Sorry to barge in, but it is not a valid classification, afaik.
Here is a much better one:

https://www.accountingweb.com/practice/clients/understanding-the-five-categories-of-wealth

That's not valid. Here's a much better classification based on Homer Simpson's description of his family as "upper lower middle class" and Lisa's description of her family as "upper lower lower middle class".

https://www.vox.com/2016/9/6/12752476/the-simpsons-homer-middle-class

Ah, got it. Solid.