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

[bkbirge]

This would be hilarious if it weren't so sad.

https://cointelegraph.com/news/binance-ceo-suggests-crypto-exchanges-are-safer-than-keeping-ones-keys

“Many hardcore crypto [organizations] advocate storing your own keys. But the truth is, today most people are not able to secure a key even from themselves (losing it). A trusted centralized exchange is #SAFUer for most people. The numbers speak for themselves. Need to work on wallets.”

[bkbirge]

If $5million is your goal, then you need
BTC price                                           BTC quantity

$5k - (anticipated lowest, currently) = 1,000 BTC
$8,600 - (today's price, while typing) =  581.4 BTC
$10k - (reasonable extreme bottom price in 2 years) = 500 BTC
$25k - (reasonable extreme bottom price in 5 years) =200 BTC
$100k - (reasonable extreme top price within 2 years) = 50 BTC
$250k - (reasonable extreme top price in 5 years) = 20 BTC

I personally believe that $2million is decently enough because that gives you $6,666 / mo of passive income.

Always good to see numbers like this. $5 mil is a good goal to have, and the passive income from that would put you in the wealthy status in the USA.

But of course as people age these goals need to be updated, I know a lot of folks here are younger but if you hit a medical emergency or some other such family emergency that requires you to dip into your capital you can be wiped out.

So personally I think JJG's $2 mil figure is good but I'd want a lot of padding to cover those possible (inevitable) times, therefore I'd also peg $5 mil as a decent benchmark for this. Though everyone would be different here I guess.

[VB1001]

I'm glad bitserve, although you were already Legendary without the change of rank.

[JimboToronto]

What kind of game are you guys playing with my nick? 

Cong Rats Bi-tserve

[LFC_Bitcoin]

Week commencing Monday 20th January 2020 - WO BTC millionaire tracker.

115.741 BTC to have $1,000,000 USD right now.

[efialtis]

Week commencing Monday 20th January 2020 - WO BTC millionaire tracker.

115.741 BTC to have $1,000,000 USD right now.

Dont remind me man - I didnt listen to the guys running sportsbet/bitcasino when they wanted to pay me for freelance stuff in BTC back in 2013/2014 and insisted on getting paid in €€€ 

[Paashaas]

Breaking News:U.S. Congress proposes that Crypto transactions below $200 shall be free from taxes!.

139 G.Gain from disposition of virtual currency

(a)In general
Gross income of an individual shall not include gain, by reason of changes in exchange rates, from the disposition of virtual currency in a personal transaction (as such term is defined in section 988(e)). The preceding sentence shall not apply if the gain which would otherwise be recognized on the transaction exceeds $200.

(b)Virtual currency
For purposes of this section, the term virtual currency means a digital representation of value that is used as a medium of exchange and is not otherwise currency under section 988.

pdf

[xhomerx10]

Wall observer thread...
Where many merits are sprayed,
And legends be made.

Grats bitserve.

  Nice one

 Just yesterday, my daughter asked me what happened to Haiku Sundays.  She has yet to reach her teens and already she's accusing us WO members of having a short attention spans.  I told her were just extremely focused on Bitcoin; she rolled her eyes.

[P_Shep]

What kind of game are you guys playing with my nick? 

We ll don e, bits erve!

[xhomerx10]

DA FUCK! 

 Congratulations Bitserve!

 By the way, if you think Spain is cold, you should avoid Canada at all costs.
 https://www.youtube.com/watch?v=K1N5JRcSXOM

[JimboToronto]

Just yesterday, my daughter asked me what happened to Haiku Sundays.  She has yet to reach her teens and already she's accusing us WO members of having a short attention spans.  I told her were just extremely focused on Bitcoin; she rolled her eyes.

I still usually post haikus on Sundays.

I've just missed the last few Sundays due to travel or spotty internet in the jungle.

A Monday haiku
Will have to suffice this week.
It's just a day late.

Nice to see your daughter reading WO. Does she have a BTC stash?

[VB1001]

Bitcoin Price Matches Stock-to-Flow Forecast as $100K Halving Nears

Bitcoin (BTC) now almost perfectly aligns with the historically accurate price chart, which has charted its growth from pennies to digital gold.

According to data from Digitalik, a resource that monitors Bitcoin's position relative to the Stock-to-Flow model, as of Jan. 20, BTC/USD is exactly where it should be.

$8.6K Bitcoin sticks rigidly to forecasts

https://cointelegraph.com/news/bitcoin-price-matches-stock-to-flow-forecast-as-100k-halving-nears

[P_Shep]

Bitcoin Price Matches Stock-to-Flow Forecast as $100K Halving Nears

Bitcoin (BTC) now almost perfectly aligns with the historically accurate price chart, which has charted its growth from pennies to digital gold.

According to data from Digitalik, a resource that monitors Bitcoin's position relative to the Stock-to-Flow model, as of Jan. 20, BTC/USD is exactly where it should be.

$8.6K Bitcoin sticks rigidly to forecasts

https://cointelegraph.com/news/bitcoin-price-matches-stock-to-flow-forecast-as-100k-halving-nears

I wonder what would happen if, instead of halving every 4 years, the reward incrementally dropped every block so you didn't get these abrupt changes.

[VB1001]

The asics would burn.
Perhaps there would be less volatility and the price increase would have been progressive from the beginning.

[VB1001]

Meanwhile, in Sudan:



https://twitter.com/AleZ2016/status/1218869472464965633

Someday nature will charge us the bill.

[xhomerx10]

Just yesterday, my daughter asked me what happened to Haiku Sundays.  She has yet to reach her teens and already she's accusing us WO members of having a short attention spans.  I told her were just extremely focused on Bitcoin; she rolled her eyes.

~snip

Nice to see your daughter reading WO. Does she have a BTC stash?

 After seeing the amount of time I spend on Bitcoin-related matters, she's developed an bit of an aversion to it.  She'll come around

[LFC_Bitcoin]

@APompilano
The stock market is closed today.

The banks are closed today.

But Bitcoin never takes days off.

https://twitter.com/apompliano/status/1219267772670267396?s=21

[fillippone]

Bitcoin Price Matches Stock-to-Flow Forecast as $100K Halving Nears

Bitcoin (BTC) now almost perfectly aligns with the historically accurate price chart, which has charted its growth from pennies to digital gold.

According to data from Digitalik, a resource that monitors Bitcoin's position relative to the Stock-to-Flow model, as of Jan. 20, BTC/USD is exactly where it should be.

$8.6K Bitcoin sticks rigidly to forecasts

https://cointelegraph.com/news/bitcoin-price-matches-stock-to-flow-forecast-as-100k-halving-nears

This is pure coincidence.
Stock to flow model has never been meant to be used like this.

So, good to write a nice 200 word article, but not for trading.

[VB1001]

Yes, the price could be located 1000 above or 1000 below, but the trend follows the graph and at this moment it coincides.

[JayJuanGee]

@mindrust @bitserve

Its always very difficult how much a person should net worth need to be living whit out worries....  Like parts of the world, metropolitan cities, cheap countries or what ever

Here on how would it be for a poker player, interesting discussion on how much would a poker player need for net income a year to be living and playing the game as a profession....

https://www.youtube.com/watch?v=EO4ZNsTOpRE&t=1765s

On who's side would you chose?? Staples or Polk?

They also talk many points you both have said ....  

The whole video is about 1 hour 20 minutes, and a bit more than the first half seems to be batting around ideas regarding how much you need to make in order to be sustainable in a poker profession, and also to be considered a poker professional.

I agree that some of the discussion points are similar, but I think that generally, you do not need as much money to retire (or to say "fuck you") in the event that you are also NOT involved in having an activity (such as poker playing).  So if your income requires you to continue to engage in some kind of activity, you are going to have additional considerations regarding sustaining that activity and your overhead costs in respects to both money and/or time necessary to spend on that activity.

With an income that comes from building up to a certain level of assets (in this case referring to the number of bitcoins accumulated to be sustainable), the ONLY real activity that should be required is figuring out how to manage your asset in terms of storing, transporting, converting and accounting... which might also involve some decision-making regarding timing of cashing out, in the event that you do not figure out some kind of blind reverse dollar cost averaging approach - which could also work in some circumstances - presuming that you are using the money/bitcoins on a periodic basis to pay for some expenses and/or to convert into dollars in order to pay for various expenses that cannot be easily paid through bitcoin.

I think that each of them make very good points in terms of attempting to account for expenses in which might come about, even though  some of their back and forth might have devolved into a kind of a definitional concern about what constitutes a professional poker player, which I tended towards agreeing more with Polk regarding that in order to call yourself a "professional" anything, you should be attempting to sustain yourself through the income of that thing that you are proclaiming "professional" status.