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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25438267 times)
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HairyMaclairy
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August 25, 2019, 07:24:38 AM
Merited by El duderino_ (3)

Oh wow.  I stand corrected.

Have never heard of a loss carry back.  

Thank you - you taught me something today.

I withdraw my prior comments.
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Lambie Slayer
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August 25, 2019, 07:30:44 AM

Oh wow.  I stand corrected.

Have never heard of a loss carry back.  

Thank you - you taught me something today.

I withdraw my prior comments.

Your welcome my very gracious friend.  Smiley I learned more than I wanted about the insanely complex tax code as an entrepreneur.
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August 25, 2019, 07:45:21 AM
Merited by fillippone (1)

...
The consolidation might take a bit longer ...

Interesting find, mindrust. But ATH before halving is impossible, isn't it? So I would extend everything on the time axis.

Wow in BTC that word...... Roll Eyes
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August 25, 2019, 07:59:40 AM

Get ready for the Sunday pump gentlemen  Cool
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August 25, 2019, 08:00:55 AM
Last edit: August 25, 2019, 08:24:56 AM by ivomm
Merited by JayJuanGee (1)

If you have 10BTC, you are a Sat billionaire.

How many do you need to be a multi-billionnaire?  What's the entry level to "multi-"?  My tentative guess is minimum would be 30 BTC.  Less than 30 BTC would not be enough, unless exaggeration is involved.

2 is multi JJG, I.e more than 1.

Added: must be a multiple of 1 I believe. I did a google to be sure and was surprised to find ambiguous answers abound.

Well, i kind of suspected that the concept of multi- was ambiguous, and that is why I was a bit more conservative in my own accepted definition, which requires three....  Tongue Tongue Tongue


Right now, with current BTC prices floating around $10k, you would be floating around BTC millionnaire status with 100 BTC.  However, I would argue that you need  300 BTC, at this particular price range to proclaim multi-milliionnaire status (in terms of your BTC holdings), without engaging in exaggeration.

I understand that guys are going to differ in this matter, and I personally give more credibility to more conservative assertions.
I've always thought that a multimillionaire is a person that has a net worth more than 2 million units of currency, i.e. $2.1 mil. There is a website dedicated to such questions: https://multimillionaire.askdefine.com/.
By BTC millionaire, JJG you mean actually a USD millionaire  Wink

Speaking of this price $10K, I think it is a bit unfortunate that average Joes see it as a high price and they don't want to buy beyond it. Even my father, who supports me in everything, says to me: Who will buy above 10K? It is too expensive. I tell him and everyone else that the unit is of no importance. What if the current Bitcoin was called a mini Bitcoin and 100 mini Bitcoins one Bitcoin? The price would be $1 mil! But the market cap would be the same. The current market cap is still very low for a world known asset. And it has the potential to reach and surpass gold's cap. It is a bit unfortunate that average Joes don't get the concept and see this price as too high. I guess this is one of the reasons the number of drops under 10K is so high in the last months. Of course with time the scarcity will push the trades beyond such psychological barriers (10K, 50K, 100K).  It would be very exciting to know what will be the price in 5 years, after 2 halvings!  If the first halving bull run doesn't get us above 50K, then the next surely will get us above 100K. The question is who will wait and suffer all the drama until then  Grin
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August 25, 2019, 08:09:06 AM



Good morning everyone!

Gold/Btc (Gold/XBT) Chart

Bitcoin is outperforming Gold.
 https://twitter.com/Bitcoin/status/1165380248591974400
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August 25, 2019, 09:34:41 AM
Merited by Ibian (2), JayJuanGee (1), ErisDiscordia (1)

Donald Trump on Twitter:





Returns during the Trump presidency




John Carvalho

















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August 25, 2019, 09:53:40 AM

You won't change Bitcoin. But Bitcoin will change you.
The same goes for altcoins, just not in a good way.

https://twitter.com/jimmysong/status/1165482967130693632?s=21
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August 25, 2019, 10:43:12 AM

UK court orders Coinbase to freeze 80BTC taken by spear phisher

https://www.cdr-news.com/categories/litigation/10003-high-court-tackles-bitcoin-property-first
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August 25, 2019, 11:02:26 AM

~ That is how it works and it is blatantly unfair in my judgement. The IRS calls it a "loss carryback".

Why is lc unfair?
Think seasonal business.
Only curious.

#haiku
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August 25, 2019, 11:27:28 AM

~ That is how it works and it is blatantly unfair in my judgement. The IRS calls it a "loss carryback".

Why is lc unfair?
Think seasonal business.
Only curious.

#haiku

I think you might misunderstand what Im saying is unfair.

I think being able to implement an income tax loss carryback for a business or personal return is great, but what imo is unfair is small investors/hodlers cant carryback capital losses in the same manner.

This rule is to make life easy for elites and big businesses imo. Small hodlers should have the same privilege.

I realize its hard to see what Im saying is unfair unless you look in the context of the entire conversation. Hope that clears it up.
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August 25, 2019, 11:44:32 AM
Merited by bones261 (2), SuperTA (1)

Today’s candle is tiny.

So normally that ends in a PAMP.  

Fingers crossed.  

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August 25, 2019, 12:12:54 PM

Today’s candle is tiny.

So normally that ends in a PAMP.  

Fingers crossed.  



Did you mispell pump, or are you referring to Pathogen-associated molecular pattern?
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August 25, 2019, 12:58:08 PM

Returns during the Trump presidency


So you are saying Trump is reason why Bitcoin gained 20 times in last 3.5 years?    Grin
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August 25, 2019, 01:03:50 PM

Nice lil Sunday pump. I bet this is the last time we've seen....  Grin Nope, I won't say it. I don't want to jinx it.  Wink
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August 25, 2019, 01:14:45 PM



This is the longterm weekly chart for altcoins/btc dominance.

I saw too many charts where they call bitcoin dominance to fall. So i made this chart which is more optimistic for bitcoin. Ok, sure, it doesn't mean that altcoin dominance will fall straight down to 20% but if it drops bellow this minor trendline then bitcoin can go to 80% dominance.
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August 25, 2019, 01:50:23 PM

Nice lil Sunday pump. I bet this is the last time we've seen....  Grin Nope, I won't say it. I don't want to jinx it.  Wink
I played this little wave like a fiddle man, I do expect us to go back to 10,000 a few more times but not in the 9800's like we have seen prior to that.
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August 25, 2019, 02:38:07 PM

Well, i kind of suspected that the concept of multi- was ambiguous, and that is why I was a bit more conservative in my own accepted definition, which requires three....  Tongue Tongue Tongue


Right now, with current BTC prices floating around $10k, you would be floating around BTC millionnaire status with 100 BTC.  However, I would argue that you need  300 BTC, at this particular price range to proclaim multi-milliionnaire status (in terms of your BTC holdings), without engaging in exaggeration.

I understand that guys are going to differ in this matter, and I personally give more credibility to more conservative assertions.

More like 400 with these tariffs. Cheesy

I'm thinking Multi must be in whole units as the general population when the term was coined were not fluent in fractions of whole numbers. Another thing I have noted is that any language that needs(critically) a term with a definition of or similar to "ambiguous" is a very poor form of communication. Intentional obfuscation is a twisted form of security and one lawyers need a even more obscure language to inflict upon us. Wink
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August 25, 2019, 02:40:26 PM

Nice lil Sunday pump. I bet this is the last time we've seen....  Grin Nope, I won't say it. I don't want to jinx it.  Wink

Currently Bitcoin is like an air mattress.
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August 25, 2019, 02:41:11 PM

If you have 10BTC, you are a Sat billionaire.

How many do you need to be a multi-billionnaire?  What's the entry level to "multi-"?  My tentative guess is minimum would be 30 BTC.  Less than 30 BTC would not be enough, unless exaggeration is involved.

2 is multi JJG, I.e more than 1.

Added: must be a multiple of 1 I believe. I did a google to be sure and was surprised to find ambiguous answers abound.

Well, i kind of suspected that the concept of multi- was ambiguous, and that is why I was a bit more conservative in my own accepted definition, which requires three....  Tongue Tongue Tongue


Right now, with current BTC prices floating around $10k, you would be floating around BTC millionnaire status with 100 BTC.  However, I would argue that you need  300 BTC, at this particular price range to proclaim multi-milliionnaire status (in terms of your BTC holdings), without engaging in exaggeration.

I understand that guys are going to differ in this matter, and I personally give more credibility to more conservative assertions.
I've always thought that a multimillionaire is a person that has a net worth more than 2 million units of currency, i.e. $2.1 mil. There is a website dedicated to such questions: https://multimillionaire.askdefine.com/.
By BTC millionaire, JJG you mean actually a USD millionaire  Wink

We are likely way too early in any kind of transition into bitcoin as a unit of account, even though many of us might be attempting to measure aspects of our profits in bitcoin, such as making sure that we are building our bitcoin stash.  For me, if the BTC price bounces around in a steady range, such as our recent bouncing around largely between $9k and $12k, , then unless I have some major expenses that i need to cash out for, I should be increasing my BTC stash with such bouncing around.   A reference point, will still be the value of such BTC in dollars, even while I am building up the number of BTC.

At some point, sure, the dollar could die, but I have a hard time seeing that for at least 20-30 years, but hey, you never know.  There is slow decline over time and continuing slow decline over time, then all at once, there is great decline.  Good to be decently in bitcoin if there were a great decline... probably would be understood as a black swan event, even though such collapse has been anticipated for a hell of a long time by dollar naysayers, but still the dollar is getting stronger and the current USD president is engaging in largely overt tactics to attempt to make it weaker, rather than making it stronger, which seems to be its current unfettered trend.



Fair enough regarding a possible definition of multi- being greater than 2, rather than being greater than 3; however, I am likely still going to have some problems with myself to consider anything greater than 2 as multi-such as 2.0000001 (is multi).. I kind of like the cushion of greater clarity coming from 3+...  but maybe I might be able to just attempt to bow out of such discussions if the range is between 2+ and 3... which, in bitcoin, should be a passing through status anyhow so long as BTC investors are smart enough to largely HODL their bitcoin and to attempt to gain wealth in bitcoin as the likely to be higher appreciating asset - relative to dollars.. and even relative to other assets in which wealth could be held.



Speaking of this price $10K, I think it is a bit unfortunate that average Joes see it as a high price and they don't want to buy beyond it. Even my father, who supports me in everything, says to me: Who will buy above 10K? It is too expensive. I tell him and everyone else that the unit is of no importance. What if the current Bitcoin was called a mini Bitcoin and 100 mini Bitcoins one Bitcoin? The price would be $1 mil! But the market cap would be the same. The current market cap is still very low for a world known asset. And it has the potential to reach and surpass gold's cap. It is a bit unfortunate that average Joes don't get the concept and see this price as too high. I guess this is one of the reasons the number of drops under 10K is so high in the last months. Of course with time the scarcity will push the trades beyond such psychological barriers (10K, 50K, 100K).  It would be very exciting to know what will be the price in 5 years, after 2 halvings!  If the first halving bull run doesn't get us above 50K, then the next surely will get us above 100K. The question is who will wait and suffer all the drama until then  Grin


People seem so god dammed dumb when it comes to unit bias, and it seems to show that they just have a disinclination to really attempt to learn beyond superficialities.  Anyone with any kind of brain who actually attempts to seriously look into Bitcoin for more than a few weeks should begin to grasp that bitcoin is divisible and the unit of measurement is not as important as the soundness of the supply policy, but for some of the in-betweeners, this late campaign to stack sats should be helpful in alleviating some of the unit bias.

Hairy began this line of discussion asserting that a person with 10BTC would have 1billion sats, and in that regard, maybe we should begin to use sats more frequently as our unit of reference in this thread, too? 

It could be a good practice to increase our references to sats in order that guys (and gal) get used to it.  So, if the price of BTC is floating around $10k, then does't that mean that $1 buys you 10,000 sats or 1 penny buys you 100 sats?   Or alternatively, 1 sat costs .01 cent (that is 1/100th of a cent)?  Could take some time to continue to work with sats on a regular basis.
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