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

[JayJuanGee]

There are billionaires who own BTC, but are there billionaires thanks to BTC ? I don't mean owning enough BTC to be a billionaire, because that is being a 100thousander in BTC, I mean having sold/traded/invested enough BTC into $ priced assets and companies to be a billionaire, starting with nothing but BTC ?

It seems to me that a more salient point would be that a lot of folks got rich as fuck from BTC (and admittedly from the various pump and dump shitcoins, too).. but anyhow, let's stick with bitcoin for this discussion.. especially since we are in a bitcoin-focused thread.

We do not need to ONLY look at billionnaires because if we were to focus in that kind of way, we would be limiting our pool BTC investors who got fucking rich as fuck and largely from bitcoin.

I am NOT proclaiming to know exactly where "rich as fuck" status begins, and I think that in this thread we referred to it as "filthy rich" status on several occasions...

Nonetheless, let me attempt to make some kind of distinction between 1) fuck you status, 2) filthy rich status and 3) billionnaire status in order to attempt to cause any discussion of billionnaires (to the extent we give any fucks about them) to become more of a meaningful measuring guideline in terms of how BTC might have either got them to such status, assisted them in getting to such status or put them on a road in which they are likely to get to such status in the "near future" (aka soon ^tm).

I personally believe that three status above are on also on a spectrum of subjectivity, so fuck you status is much more subjective than billionaire status, yet in any event, I am going to try to put price ranges and a bit of a descriptive on each of these statuses.

1) fuck you status = that would be having a starting point networth of anywhere between $100k and $10million, and of course, is a kind of status that gives options, so if a guy is able to live within his means with a networth of $100k and does not have to answer to anyone or worry about how to spend his time and feels that he is getting sufficient passive income and insurance from his $100k networth, then he has reached fuck you status... Personally, I am thinking that around $2million networth more objectively brings any guy to fuck you status because it allows for a passive income of about $6,666 per month, which I believe objectively brings a guy sufficient flexibility anywhere in the world to proclaim fuck you status, even though I do understand how guys might argue higher and lower thresholds for the reaching of such status.

2) filthy rich status = that would be having a starting point networth of anywhere above $40million, and surely lots of this assessment  of degree of filthy rich is relative, and of course, the more networth that a guy/gal has, the more filthy rich s/he is.

3) billionnaire status = that would be having a starting point networth of anywhere above $1 billion.  Sure there are various levels here, too, but surely is a decently small pool of people, and likely there are some people who are very close to reaching billionnaire status, that could live a lifestyle very similar to a billionnaire, even if technically they have not yet reached such officially billionnaire status.  

Anyhow, part of my point in attempting to make these distinctions is that I believe that we lose sight of the POWER of either the wealth creation of bitcoin or the wealth redistribution aspects of bitcoin if we merely focus on billionnaires and whether they are actually at billionnaire status or if they had achieved their billionnaire status from bitcoin including how much of their wealth is in bitcoin as compared to being allocated in some other assets.

I don't necessarily feel that I need to attempt to beat this horse to death or to analyze these proposed categories in any further detail in order to highlight that there are all kinds of variations in terms of what wealth status that any individual, institution or even government might have, including being in one of the above categories and including interesting aspects and variations regarding how much of their wealth is getting allocated to bitcoin, going to be allocated into bitcoin or had already been allocated into bitcoin.. including current or future ramifications of such BTC allocation choices.

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[strawbs]

... around $2million networth more objectively brings any guy to fuck you status because it allows for a passive income of about $6,666 per month...

That's assuming a return of 4% p.a. That's reasonable but I'm interested to learn through which means you would look to achieve that? Typical fiat account interest? Loaning btc? Something else?

[Toxic2040]

Merit dumped upon your head.

[cAPSLOCK]

Good morning Bitcoinland.

Another wee leg up I see... currently $11610USD/$15570CAD (Bitcoinaverage).

Gotta love the slow steady steps up with little consolidations in between.

Go Bitcoin go.

It's also too bad that hundreds of thousands of George Floyd protesters around the globe spent about 1-1/2 to 2 months running around literally in each others faces *without* masks on, potentially (likely) infecting the rest of the population... and hardly anyone in the media said shit about it. The media down-played it and made excuses for it.

Because, ya'know, political agendas and all.  

Shall we go ahead with incarcerating the hundreds of thousands protesters worldwide, or do they all get a pass?

Why bring anti-brutality protesters into a discussion about masks?

From what I saw, the percentage of protesters wearing masks was no lower than that of the general population.

Politics has nothing to do with it, or at least it shouldn't. Mask wearing is a medical issue, not a political one. Why do some people try to turn everything into some right-wing versus left-wing partisan political debate?

But it is being turned into that.  At least in my country.  White vs black, male vs female north vs south, left vs right, faith vs science and on and on.  It's more political than it ever has been.  The supreme court is hearing cases about whether church's activities should be curtailed.  All this in direct opposition to the 1st amendment.

Most of these polarities pitted against each other are false dichotomies.  It's quite disheartening to me.

[jojo69]

[Phil_S]

Reminds me of when I 1st heard Deep Purple's  "Smoke on the Water" and thought the refrain was "Slooooow running Hoooooorses!....."
yeah I know, I'm still deaf to this day....

I'm deaf since I heard them live, in a small(-ish) place. Damn, they were loud as hell.

[Biodom]

... around $2million networth more objectively brings any guy to fuck you status because it allows for a passive income of about $6,666 per month...

That's assuming a return of 4% p.a. That's reasonable but I'm interested to learn through which means you would look to achieve that? Typical fiat account interest? Loaning btc? Something else?

That or with a return of zero, you run out of money in 25 years.
A much more realistic scenario IMHO considering that we are at peak valuation in stonks and bonds already.
Still, 25 years is a good run.

[Cryptotourist]

Meanwhile I can't get this straight, small weddings are allowed but facials are still banned. What sort of wedding night do these monsters propose?

Canada is promoting glory holes, so there are still workarounds for facials in some places.

Canadian Health Agency Suggests Glory Holes for Safe Sex Amid Pandemic

Great, when full body latte?

[cAPSLOCK]

....snip ...WTF?

Good lord,
that must be some mighty fine ganja you are smoking there dude...

I blame it on Google Translate.

No doubt GPT-3 can write something that makes much more sense.

[Phil_S]

The world seems to be in such a poor shape... we can't really have ANY expectations regarding long-term passive income. The big reset in coming.

[Biodom]

The world seems to be in such a poor shape... we can't really have ANY expectations regarding long-term passive income. The big reset in coming.

yes, but what will be the "form of destructor" as per "Ghostbusters"?
We are choosing it right now, I believe, all of us.
My bet is on MMT. It will be inflation, finally.

[strawbs]

The world seems to be in such a poor shape... we can't really have ANY expectations regarding long-term passive income. The big reset in coming.

You could buy property and generate a residual rental income - but only if your tenants continue to pay you.

You could buy land and become self sufficient in energy and food - but only until someone comes along with more guns than you and takes it from you.

But then you enter into  territory for which there is no preparation, I suppose.  Makes me think of that movie "The Road".

Which begs the question: which is better for the average pleb - a world run by bankers or a Mad Max world?    (accepting that some parts of the world are already suffering both).

[OutOfMemory]

Just a short note:
Bitcoin price didn't dump just before CME futures contract expiration date and i'm very happy about that.
This is, only for myself, the confirmation that we're at the start of the next bull cycle.
@JJG: Maybe you should cancel your cancellation of hookers, blow and lambos now    

[JayJuanGee]

Quick wick down to fill that gap around 9600 then right back up and we'll really be off to the races.

Down before up?  Where have I heard that one before?

Could be necessary to get down before up, but I am not sure.  

Seems that I have heard those kinds of, "down before up" proclamations on a number of occasions, and they don't necessarily end up happening, even though they are purportedly "necessary," and they may even cause some people to wait before buying BTC, to sell some of their BTC or even more risky, to short with an expectation of buying MOAR BTC, and any one of those courses of action might not play out very well in terms of preparing for the likely more important aspect of bitcoin, which is the "UP aspect," which seems to be an actual thingie-ma-jiggie in bitcoin investing strategies.

[Cryptotourist]

BTC right now:

https://www.youtube.com/watch?v=kgvRlx65BOA

[600watt]

....snip ...WTF?

Good lord,
that must be some mighty fine ganja you are smoking there dude...

No, you can‘t blame weed for that.

[JayJuanGee]

Since the air conditioning in the building is now on (it was off before to save money), the air is distributed to all rooms anyway. 

I thought that a lot of businesses, governments and even individuals were spending a lot more time considering the filtering systems of their air circulation systems, whether we are talking about buildings, enclosed recreation, or enclosed transportation systems. 

Of course, some smaller buildings or less trafficked places might not have air circulating systems, but I bet that the consultation and even the production of filters and filterting systems for buildings, enclosed recreation, and enclosed transportation systems has been becoming a booming kind of business, even if it might NOT exactly be a bit clear regarding how much of a difference (based on evidence and logic) that such filtering systems might make to spreadability of viruses or possibly other health benefits as compared with costs of such possible filtering systems.

[El duderino_]

Finally BTC going up again, meaning the dude at resto again 

[LFC_Bitcoin]

Finally BTC going up again, meaning the dude at resto again 

When pics of courses return?

[600watt]

The world seems to be in such a poor shape... we can't really have ANY expectations regarding long-term passive income. The big reset in coming.

You could buy property and generate a residual rental income - but only if your tenants continue to pay you.

You could buy land and become self sufficient in energy and food - but only until someone comes along with more guns than you and takes it from you.

But then you enter into  territory for which there is no preparation, I suppose.  Makes me think of that movie "The Road".

Which begs the question: which is better for the average pleb - a world run by bankers or a Mad Max world?    (accepting that some parts of the world are already suffering both).

The work of bankers in one part of the world is directly connected to the Mad Max in other parts.

BUT
before we all shed our cultural pessimism crocodile tears - overall it is not all going down the drain. The opposite is true: all parameters that measure poverty and violence indicate that humankind is making progress. Don’t get overwhelmed by media attention focusing on only catastrophic news.  More folks have escaped poverty and experience less violence than ever before in history. Corona is a major setback. The fiat collapse will be another.  But there is no zombie apocalypse waiting around the corner.