European Central Bank
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April 08, 2017, 01:24:49 PM |
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It was just a fake ETF pump&dump. It lasted for 2 minutes on that level. That ATH was just as fake as GOX. The real ATH was on 3-3-2017 if you ask me.
real money was paid and real coins were bought. of course it was dumb exuberance but it happened.
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JimboToronto
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April 08, 2017, 03:58:13 PM Last edit: April 08, 2017, 04:50:51 PM by JimboToronto |
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Good morning Bitcoinland. The battle for $1200 rages on... currently $1188USD (Bitcoinaverage). This is the second day of sideways consolidation in the $1180-$1200 range. It had crept over $1200 on some exchanges but that series of significant ask walls in the $1196-$1198 range at Stamp kept it from going up despite good chunks of those walls being eaten. Now those other exchanges are trading at less than $1200 as well. Now it's the weekend. More consolidation or do they pull the walls and let the price move another leg up? I think 1000 BTC wall could have been considered a wall three years ago. Today a thousand BTC wall is more like a wooden fence.
I think you have that backward. 3-4 years ago anything under a few thousand coins wasn't considered a wall at all. People still remembered when 10k coins only bought a couple of pizzas and 1k coin gifts were not uncommon. A mere 500 coin ask wasn't considered a wall, just a decent bump in the road, the price of a nice car. Now 500 coins represents over half a million dollars, and can have a significant effect on the market. Market cap isn't a big consideration in this. That 10k coin pizza represented a larger portion of Bitcoins total market cap than "Manbearwhale's" infamous 30k coin ask wall did in 2014. Now after 2 halvings and with most of the eventual total coins having already been mined, it's less and less of an issue.
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r0ach
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April 08, 2017, 06:58:44 PM |
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( yes bitcoin's blockchain has an asset layer, you didnt know? ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) ) ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FHn7WJS3.jpg&t=665&c=xQoM2P-b1v5G0w)
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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April 08, 2017, 06:59:56 PM |
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How many bitcoins must one currently hold, as a citizen of a first world country, to be exited about the bitcoin price (movements)?
Of course, there is no "must" when it comes to this kind of a thing, and even in the "first world" there is a considerable amount of variance in income and in how much someone might have available to invest. if you are feeling fairly bullish about bitcoin, then holding 10% of your quasi-liquid investments in bitcoin could be a good thing.. and maybe for some people that could be up to 10 bitcoins, but they might not get rich in the shorter term with 10 bitcoins, so maybe 100 would be a better target.. even though 100 might be too difficult to achieve for some people, especially if they are just entering into BTC and 10 might be more realistic. So 100 bitcoins it is. How many dollars must one currently hold, as a citizen of a first world country, to be considered rich? Well maybe 15 or 20 years ago, we may have considered a millionaire to be sufficiently rich.. or at least the beginning of rich - but these days, that does not seem to be nearly enough to even begin the richie process. Conservative estimates would usually allow quasi-liquid capital to work at 2% to 4% per year, which would mean that you could passively withdraw the earnings without depleting the principle, but with a million dollars, that would only get you about $2k to $4k per month of passive income to live on. So, I would suggest that these days, the beginning of rich would have to be starting around $3million, which should reasonably provide about $6k to $12k per month of passive income. Of course, there are different levels of rich, but $3million would give a start - and even if you decide to only live on your passive income, there still could be ways to continue to build your capital (by living well within your means and attempting to find investments that have greater returns), even with only $3million of richness.
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JayJuanGee
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April 08, 2017, 07:07:57 PM |
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How many bitcoins must one currently hold, as a citizen of a first world country, to be exited about the bitcoin price (movements)?
Of course, there is no "must" when it comes to this kind of a thing, and even in the "first world" there is a considerable amount of variance in income and in how much someone might have available to invest. if you are feeling fairly bullish about bitcoin, then holding 10% of your quasi-liquid investments in bitcoin could be a good thing.. and maybe for some people that could be up to 10 bitcoins, but they might not get rich in the shorter term with 10 bitcoins, so maybe 100 would be a better target.. even though 100 might be too difficult to achieve for some people, especially if they are just entering into BTC and 10 might be more realistic. So 100 bitcoins it is. How many dollars must one currently hold, as a citizen of a first world country, to be considered rich? >$10,000,000? I don't think 100BTC would class you as rich since, at todays prices, that would be ~$120,000 Yep.. We would need nearly a 90x increase in prices to achieve that $10 million level of richness, but as I stated in my earlier post, I believe that $3million could be sufficiently enough (in the first world) to begin to live in a kind of "richness," and that would ONLY be a 25x increase from todays prices - still seems a bit of a stretch - but a bit more reachable than a 90x increase.
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Torque
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April 08, 2017, 10:27:56 PM |
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So what's the deal with the Chinese exchanges? Have they allowed btc withdrawals yet?
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Biodom
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April 08, 2017, 10:31:17 PM |
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Yep.. We would need nearly a 90x increase in prices to achieve that $10 million level of richness, but as I stated in my earlier post, I believe that $3million could be sufficiently enough (in the first world) to begin to live in a kind of "richness," and that would ONLY be a 25x increase from todays prices - still seems a bit of a stretch - but a bit more reachable than a 90x increase.
I agree that in US, for example, $3 mil is minimal. 1% in net worth is $8.4 mil currently. 1% in income is $343K/year If bitcoin is at 500K by 2030 (as predicted by blockchain.info CEO), then 21 BTC would be enough (if inflation remains modest). Numbers would change according to $ inflation and btc value, of course. If each of US citizens (and nobody else just to simplify an example) would dedicate just 1% of their net worth to btc, they would need to buy 840 bil worth of it, which would be $50K/btc at the minimum (at the steady-state level).
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Genesis1337
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April 08, 2017, 11:08:49 PM |
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So what's the deal with the Chinese exchanges? Have they allowed btc withdrawals yet?
Yes
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Meuh6879
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April 08, 2017, 11:37:00 PM |
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Finally ? ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fimagizer.imageshack.us%2Fa%2Fimg910%2F2856%2FhRnCDt.gif&t=665&c=iGKG6j9oGzElUg)
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JimboToronto
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You're never too old to think young.
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April 08, 2017, 11:45:30 PM |
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So what's the deal with the Chinese exchanges? Have they allowed btc withdrawals yet?
Yes link? I thought they were still pending, waiting on the pboc.
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Gyrsur
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Bitcoin Legal Tender Countries: 2 of 206
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April 08, 2017, 11:51:01 PM |
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So what's the deal with the Chinese exchanges? Have they allowed btc withdrawals yet?
Yes link? I thought they were still pending, waiting on the pboc. I assume this too because China is almost dead.
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JohnUser
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April 09, 2017, 12:12:42 AM |
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So what's the deal with the Chinese exchanges? Have they allowed btc withdrawals yet?
Yes link? I thought they were still pending, waiting on the pboc. I assume this too because China is almost dead. Maybe one of the reason why japon will officially allow bitcoin...
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sirazimuth
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April 09, 2017, 02:13:39 AM |
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the next 3 years 2 months 17 days 6 hours 5 minutes and 20 seconds (+- a few hours) are somewhat, but not necessarily... critical....
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deepcolderwallet
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April 09, 2017, 02:26:51 AM |
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Time to fulfill Afrikoin's prophecy. I'm already sold out and waiting for $750.
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silverfuture
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April 09, 2017, 03:21:41 AM |
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Time to fulfill Afrikoin's prophecy. I'm already sold out and waiting for $750.
Not 100% on 750 but I'm in fiat unless it pops up convincingly through those walls. It's been a bit of a slow grind down so we'll see where it bottoms out. I hope Africoin is correct.
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JayJuanGee
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April 09, 2017, 03:42:57 AM |
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Time to fulfill Afrikoin's prophecy. I'm already sold out and waiting for $750.
Not 100% on 750 but I'm in fiat unless it pops up convincingly through those walls. It's been a bit of a slow grind down so we'll see where it bottoms out. I hope Africoin is correct. You playing your whole investment on down? Wow!!!! If so, you sound like an irrational gambler.
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Killerpotleaf
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April 09, 2017, 03:48:19 AM |
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i suspect new ath coming pretty soon.
if you find yourself selling because of all the (very real) FUD, you are doing it wrong!
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JohnUser
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April 09, 2017, 04:08:51 AM |
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i suspect new ath coming pretty soon.
if you find yourself selling because of all the (very real) FUD, you are doing it wrong!
I suspect a little down to 1120-1150 before
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Killerpotleaf
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April 09, 2017, 04:20:48 AM |
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i suspect new ath coming pretty soon.
if you find yourself selling because of all the (very real) FUD, you are doing it wrong!
I suspect a little down to 1120-1150 before wtf you talking about, if market was a cartoon character it would look somthing like this right now. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) this is ?horrible!? https://blockchain.info/charts/transaction-fees-usd![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fvignette2.wikia.nocookie.net%2Fsonicfanchara%2Fimages%2F1%2F17%2FMother-of-lol-meme-rage-face.jpg%2Frevision%2Flatest%3Fcb%3D20131027023600&t=665&c=qOLjWNgbaEg7Ww)
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Killerpotleaf
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April 09, 2017, 04:35:44 AM |
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