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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26365815 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (174 posts by 3 users with 9 merit deleted.)
efialtis
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January 20, 2020, 03:50:05 PM

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 €€€  Cheesy
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January 20, 2020, 03:53:02 PM
Merited by cAPSLOCK (2), JayJuanGee (1), OROBTC (1), RejectedBanana (1)

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

Quote
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
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January 20, 2020, 03:53:51 PM
Merited by JayJuanGee (1)

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

Grats bitserve.

  Nice one Smiley

 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
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This is not OK.


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January 20, 2020, 03:59:34 PM

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

We ll don e, bits erve!
xhomerx10
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January 20, 2020, 04:03:56 PM

DA FUCK!  Shocked





 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
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January 20, 2020, 04:07:14 PM
Last edit: January 21, 2020, 01:13:09 AM by JimboToronto
Merited by xhomerx10 (1)

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
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January 20, 2020, 04:12:39 PM



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

Quote
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
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January 20, 2020, 04:16:52 PM


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

Quote
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
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January 20, 2020, 04:20:45 PM

The asics would burn. Cheesy
Perhaps there would be less volatility and the price increase would have been progressive from the beginning.
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January 20, 2020, 04:27:20 PM

Sad

Someday nature will charge us the bill.
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January 20, 2020, 04:33:46 PM

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 Smiley



LFC_Bitcoin
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January 20, 2020, 04:43:55 PM

@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
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January 20, 2020, 04:48:43 PM
Last edit: May 16, 2023, 06:45:16 AM by fillippone



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

Quote
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.

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January 20, 2020, 05:08:25 PM
Merited by fillippone (1)

Yes, the price could be located 1000 above or 1000 below, but the trend follows the graph and at this moment it coincides.
JayJuanGee
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January 20, 2020, 05:09:13 PM

@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.
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January 20, 2020, 05:20:08 PM

My advantage is that health is dirt cheap here. Doctors are literally working for free. I better get a 2nd passport but still keep my original in case I have a serious health problem.

I do also have a GREAT and almost FREE health care here. In Spain $1-$2 million would probably be the equivalent of that $5million for US. Again, depends on many factors.

And yes, one could go with a lower figure if he already has a home, retirement pension, additional income, less years to live, very frugal lifestyle, etc etc...

But the geographical factor is *EXTREMELY* important.

Fortunately I plan to always live here. Not just because of "cost of living" but QUALITY of living... and WEATHER! *Most* of the world (including many parts of my damn country!) is too fucking cold for my taste.

Now you mentioned Spain, I was actually considering of buying 2 x 500k€ flats in Barcelona and AirBnb the fuck out of them.  Grin

Work while having a vacation. Sound like a brilliant idea.

Not the best of the ideas. Touristic apartments are having a regulation tightening specially in Barcelona. Risky business I would say. You might be earning like a boss this year and the next one be out of the market because of some regulation that forbids you to rent it. In fact that is ALREADY happening.

Also Barcelona (and Madrid) and among the most expensive cities to live in Spain. Higher salaries yeah, but if you are not gonna work there you will just "enjoy" the higher cost of living. Still, WAY lower than US, of course.

About renting... currently the best investment are more "modest" 2-3 room apartments valued from 50 (reform usually needed) to 250K (more premium zones) € that you can rent for 5-10% that. Long term, so hassle free.
Or lousy apartments with many rooms near universities that you can rent to students.

It's a job in itself to take care of your "business" and properties but it's a reasonably safe investment with a good return if you know what you are doing.

Congrats for ranking up, @bitserve!
Can someone living in Barcelona or Madrid afford the season tickets?
That's the question, Wink
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January 20, 2020, 05:24:16 PM
Merited by JayJuanGee (1)

Adam Back on Satoshi Emails, Privacy Concerns and Bitcoin's Early Days

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Bitcoin software

“I didn't help to create Bitcoin, I didn't program anything nor participate in any programming task. Around the time the software came out, Satoshi sent it to me, but I didn't help him with that.

“Hal Finney could have reviewed the early Bitcoin code. I have never met Hal in person, but I really liked his inventiveness and enjoyed discussing topics on the cypherpunks list or in email with him. If ‘cypherpunks write code,’ Hal was a code writer, for sure.

“There has been some speculation about who may have helped Satoshi review the Bitcoin code prior to release because of the email that he sent to the list in November 2018. But it seems that Satoshi programmed Bitcoin first before writing the paper and probably he, himself, made several revisions to the code, and later others — like Hal, for example — may have helped review comments or bug reports or doing small bug fixes, just as when you write text and ask someone to review the grammar.”

https://cointelegraph.com/news/adam-back-on-satoshi-emails-privacy-concerns-and-bitcoins-early-days
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January 20, 2020, 05:26:14 PM

Good afternoon WO!
Observing @ $8,652
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January 20, 2020, 05:28:33 PM
Last edit: January 20, 2020, 05:47:14 PM by Biodom
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I am not exactly saying you need $5 Million to live in the US.

$5Million is my *UP TO* / most conservative reasonable figure for living with a NICE lifestyle in the US. It includes the following factors:


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.  We should be considering average USA locations rather than the extremes of NYC or SF... .. of course, the higher the cost of living of your preferred location, the more that you need.

By the way, we should also know that BTC does not need to be your exclusive source of income or assets in order to still serve as "fuck you" money and also to be calculated while considering the balancing of other assets and possible income that you might have from other sources that would not necessarily interfere with your ability to claim to have reached a kind of "fuck you" status

I agree with a notion that 2mil is still probably OK in most of US (not in NY, SF, San Diego, San Jose and several more), but $5 mil is solid as a "FU money" (updated to $5mil from $2.5 mil) described here:
https://www.youtube.com/watch?v=qGC9FY65HBo

haiku motif that I stole from you know who:

Yesterday, corn was
such an easy game to play..
oh oh...yesterday
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January 20, 2020, 05:32:19 PM
Merited by infofront (1)

I agree with a notion that 2mil is still probably OK in most of US (not in NY, SF, San Diego, San Jose and several more), but $5 mil is solid as a "FU money" (updated to $5mil from $2.5 mil) described here:
https://www.youtube.com/watch?v=qGC9FY65HBo

50 is fuck you money. If you have 3-4-5 decades left then 5 million will provide a reasonable amount above the average income plus a few toys and a decent house if you want it to last the rest of your days. No way could you be having sex with Lambos every night unless you want the classic lottery win outcome of winding up penniless less than 5 years down the line.

And if you do nothing about inflation you'll starve to death on 5 million too. What buys a holiday now might not buy lunch by the time you're ready to croak. Luckily there's this Bitcoin thing that might do OK as long you hang on to some.
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