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

[Last of the V8s]

I follow the upcoming Bcash hard fork but it's turning into a major shitshow...suprise suprise  

So one of the Bcash devs are using his algorithm instead of going with consensus while they realease spec without coding and all done behind close-doors

I'm not a coder but i'm sure you need to code first, spec and comments after...

All of this within a 2 week time line lol.

HUH?

I find this discussion confusing.  Are you really talking about Bcash, or are you referring to segwit2x, especially since you are mentioning a "2 week timeline"?

bcash is hard forking again at the same time as the s2x fork. simple

[aesma]

Finding it difficult to concentrate at work

Same problem. Well today is a holy day so no problem, but since this summer, and it has worsened recently, I care less and less about my job.

During the summer I had decided that I needed my BTC stash to be worth a certain amount of euros, then, considering how I'm able to grow that stash, I could quit my job and live off the earned BTC. I thought this could happen in the middle of next year at the earliest, but today it has happened.

It would not be reasonable to quit my job right away, but I can't see myself continuing for years, that's for sure.

Does your plan account for any possible scenario that bitcoin could lose 50% of its value? 

I am not saying that bitcoin is going to lose 50% of its value from the current price but it is not an unrealistic scenario or assumption.

Furthermore, for example, if we experience another 2x or 3x in a very short period of time (let's say 2weeks or even 2 months, but the 2 month price explosion, if it were to happen, could be higher than 3x), then after any such quick additional exponential growth such as in the framework that I mention, we could thereafter be subject to a 70% or even possible 90% peaks price correction scenario - although the 90% seems less likely but if we went to $30k, for example, then peaks of a 90% could be quasi-reasonably within the cards)

Yes and no. I know it can happen, have lived through it already, but I don't really believe it can happen.

If I were to quit my job, I could always find another one if worse came to worse, especially in the current environment. I would probably go for temp work. I would also keep enough fiat in hand to weather a year of low prices, maybe more to actually buy such a dip.

[aesma]

I follow the upcoming Bcash hard fork but it's turning into a major shitshow...suprise suprise 

So one of the Bcash devs are using his algorithm instead of going with consensus while they realease spec without coding and all done behind close-doors

I'm not a coder but i'm sure you need to code first, spec and comments after...

All of this within a 2 week time line lol.

HUH?

I find this discussion confusing.  Are you really talking about Bcash, or are you referring to segwit2x, especially since you are mentioning a "2 week timeline"?

bcash is hard forking again at the same time as the s2x fork. simple

Too much fork action, I've missed that. When is the fork happening ? I must get my coins out of exchanges I guess.

[bitserve]

Finding it difficult to concentrate at work

Same problem. Well today is a holy day so no problem, but since this summer, and it has worsened recently, I care less and less about my job.

During the summer I had decided that I needed my BTC stash to be worth a certain amount of euros, then, considering how I'm able to grow that stash, I could quit my job and live off the earned BTC. I thought this could happen in the middle of next year at the earliest, but today it has happened.

It would not be reasonable to quit my job right away, but I can't see myself continuing for years, that's for sure.

Does your plan account for any possible scenario that bitcoin could lose 50% of its value?  

I am not saying that bitcoin is going to lose 50% of its value from the current price but it is not an unrealistic scenario or assumption.

Furthermore, for example, if we experience another 2x or 3x in a very short period of time (let's say 2weeks or even 2 months, but the 2 month price explosion, if it were to happen, could be higher than 3x), then after any such quick additional exponential growth such as in the framework that I mention, we could thereafter be subject to a 70% or even possible 90% peaks price correction scenario - although the 90% seems less likely but if we went to $30k, for example, then peaks of a 90% could be quasi-reasonably within the cards)

Yes and no. I know it can happen, have lived through it already, but I don't really believe it can happen.

If I were to quit my job, I could always find another one if worse came to worse, especially in the current environment. I would probably go for temp work. I would also keep enough fiat in hand to weather a year of low prices, maybe more to actually buy such a dip.

How old are you aesma? If I can ask...

I seem to remember you had around 20 BTC which, even if it is a good cushion, it is nowhere enough to think about retiring or living out of it. I mean, just not yet. Maybe I remember wrong.

OTOH, it is a good enough cushion to risk changing jobs and trying to "upgrade" while you can see how your stash evolves in the future. Just don't quit before you have the better job on hand.

[JayJuanGee]

My eleven year old daughter says hi to you all. She is very satisfied with the gains her bitcoin made today.

Say hi back. Hope she gets rich!

An 11 year old should not have full title to bitcoin that was "given" to her.

You gotta build character in her first...

 

Otherwise, she become SPOILT BRATT    , if she already NOT one.   

[JimboToronto]

oh god i can't stand the curiosity any more

Jimbo who was at the door?

Luckily someone who owed me money, and just in time too. I may be paper rich now but I'm still pocket poor.

I'm still recovering from buying the dips in September and a couple of weeks ago.

Life is good. Go Bitcoin go.

What other activities do you do? I mean other than sleeping.
I envy you.  

I'm basically retired, so my main activities are sex and herbs and rock and roll. I do a lot of partying, still play regularly with several bands and attend baseball games during season. I spend a lot of time at the bar. I also like spending time in the forest or at the lake. I'm thinking of "buying" a few acres of jungle in the Yucatan on Mayan land. I can do it with Bitcoin, no fiat involved.

I collect a couple of pensions and make a little extra here and there from various businesses, hustles and scams. I jump on bargains and sell them for a profit. By far my main source of income is Bitcoin but all my profits stay in Bitcoin (for now). I used to mine.

I've bounced between poverty and semi-wealth all my life. Now I've achieved a certain level of stability thanks to Bitcoin. I'm proud to say I haven't had a "real" job since 1976. Getting paid for a hobby doesn't count. I've learned to resist unnecessary spending and live cheaply.

As I said, life is good.

[JayJuanGee]

I follow the upcoming Bcash hard fork but it's turning into a major shitshow...suprise suprise  

So one of the Bcash devs are using his algorithm instead of going with consensus while they realease spec without coding and all done behind close-doors

I'm not a coder but i'm sure you need to code first, spec and comments after...

All of this within a 2 week time line lol.

HUH?

I find this discussion confusing.  Are you really talking about Bcash, or are you referring to segwit2x, especially since you are mentioning a "2 week timeline"?

bcash is hard forking again at the same time as the s2x fork. simple

Oh yeah.  Thanks.  I forgot about that one, and yeah, the projected Bcash hardfork is approximately a couple of days before the projected segwit2x hardfork  - o... k...   Now I get the reference..   Makes more sense.   

[Wekkel]

Everything that goes on, sooner or later comes back down.

I guess the Internet went down as well, not to speak of the combustion engine. But in all fairness, bubble peaks will also bring bear throughs. But I see no bubble yet. First we need to hit $25k, and soon.

[JayJuanGee]

Finding it difficult to concentrate at work

Same problem. Well today is a holy day so no problem, but since this summer, and it has worsened recently, I care less and less about my job.

During the summer I had decided that I needed my BTC stash to be worth a certain amount of euros, then, considering how I'm able to grow that stash, I could quit my job and live off the earned BTC. I thought this could happen in the middle of next year at the earliest, but today it has happened.

It would not be reasonable to quit my job right away, but I can't see myself continuing for years, that's for sure.

Does your plan account for any possible scenario that bitcoin could lose 50% of its value?  

I am not saying that bitcoin is going to lose 50% of its value from the current price but it is not an unrealistic scenario or assumption.

Furthermore, for example, if we experience another 2x or 3x in a very short period of time (let's say 2weeks or even 2 months, but the 2 month price explosion, if it were to happen, could be higher than 3x), then after any such quick additional exponential growth such as in the framework that I mention, we could thereafter be subject to a 70% or even possible 90% peaks price correction scenario - although the 90% seems less likely but if we went to $30k, for example, then peaks of a 90% could be quasi-reasonably within the cards)

Yes and no. I know it can happen, have lived through it already, but I don't really believe it can happen.

If I were to quit my job, I could always find another one if worse came to worse, especially in the current environment. I would probably go for temp work. I would also keep enough fiat in hand to weather a year of low prices, maybe more to actually buy such a dip.

Don't mean to be critical, but your plan seems fairly inadequate and without a proper cushionings...  

Maybe it is my own conservative approach to these kinds of financial matters .. but cushions are frequently needed, including decent preparations for worse case scenarios.

[edited out]

How old are you aesma? If I can ask...

I seem to remember you had around 20 BTC which, even if it is a good cushion, it is nowhere enough to think about retiring or living out of it. I mean, just not yet. Maybe I remember wrong.

OTOH, it is a good enough cushion to risk changing jobs and trying to "upgrade" while you can see how your stash evolves in the future.

Exactamente Bitserve!!!  You beat me to making this point, better than me.   

[Last of the V8s]

https://bashco.github.io/2x_Countdown/
Thursday, November 16, 2017, 9:38 AM
Greenwich Mean Time
This is a rough estimate based on the current block height, proposed block height
to attempt a hard fork, and an average block time of ten minutes per block.
current block: 492686
fork block: 494784
blocks remaining: 2098


https://www.bitcoinabc.org/november
Bitcoin ABC has published version 0.16.0 which contains an updated Difficulty Adjustment Algorithm (DAA).  

This is a change to the Bitcoin Cash consensus rules, but the change does not activate until November 13th.  This is a hard fork, so exchanges, wallets, and other software need to upgrade before November 13th.

[pfrtlpfmpf]

oh god i can't stand the curiosity any more

Jimbo who was at the door?

Luckily someone who owed me money, and just in time too. I may be paper rich now but I'm still pocket poor.

I'm still recovering from buying the dips in September and a couple of weeks ago.

Life is good. Go Bitcoin go.

What other activities do you do? I mean other than sleeping.
I envy you.  

I'm basically retired, so my main activities are sex and herbs and rock and roll. I do a lot of partying, still play regularly with several bands and attend baseball games during season. I spend a lot of time at the bar. I also like spending time in the forest or at the lake. I'm thinking of "buying" a few acres of jungle in the Yucatan on Mayan land. I can do it with Bitcoin, no fiat involved.

I collect a couple of pensions and make a little extra here and there from various businesses, hustles and scams. I jump on bargains and sell them for a profit. By far my main source of income is Bitcoin but all my profits stay in Bitcoin (for now). I used to mine.

I've bounced between poverty and semi-wealth all my life. Now I've achieved a certain level of stability thanks to Bitcoin. I'm proud to say I haven't had a "real" job since 1976. Getting paid for a hobby doesn't count. I've learned to resist unnecessary spending and live cheaply.

As I said, life is good.

Thanks, for clearing that up. Sounds like a life.

[JimboToronto]

My eleven year old daughter says hi to you all. She is very satisfied with the gains her bitcoin made today.

Say hi back. Hope she gets rich!

Last December I started a little nest egg for my grandnephew on his second birthday with $100 worth of Bitcoin. On his mother's birthday in April, I added another $100 worth. It's already worth over $1200 including the AltCash.

I gave his parents the private key and told them they should stash it in their safe deposit box or some other secure place, show it to no one and not touch it until he's enrolled in a college or university or turns 30, whichever comes first.

I told them it's a golden goose. I can monitor it through blockckain.io and as long as it's untouched, I'll keep adding to it. Break it and it's done.

[jbreher]

The entire Bitcoin marketcap, in comparison, is just the money needed to absorb just a few months of the global gold mining production.

Aye. Well, if you consider eight to be 'a few'. And three years ago, Bitcoin's market cap would have absorbed 'just a few weeks of the global gold mining production.' The trend is my friend.

OTOH, the trend hates you.

It's still "weeks", if you don't bother counting up to 39

39? Remedial math much? Bitcoin has done a ten-bagger from the time I reference (i.e., three years ago - @ ~$10B). The weeks are a few from your own figures

Every year... 146.25bn USD.

Lessee... 146.25/52 ~= 2.8B $/wk, $10B/2.8B $/wk ~= 3.5weeks. Considerably closer than eight.

Again,  The trend is my friend.

OTOH, the trend hates you.



And I'm a not-yet-rehabilitated goldbug.

[jbreher]

Are you really talking about Bcash, or are you referring to segwit2x, especially since you are mentioning a "2 week timeline"?

Newsflash: Bitcoin Cash will undergo an upgrade on 2017 Nov 13 in order to 'fix' the EDA (for which it has been so widely derided).

Do try to keep up.

[Syke]

I'm basically retired, so my main activities are sex and herbs and rock and roll. I do a lot of partying, still play regularly with several bands and attend baseball games during season. I spend a lot of time at the bar. I also like spending time in the forest or at the lake. I'm thinking of "buying" a few acres of jungle in the Yucatan on Mayan land. I can do it with Bitcoin, no fiat involved.

If this exponential trend continues much longer, I may join you.

[Imbatman]

I follow the upcoming Bcash hard fork but it's turning into a major shitshow...suprise suprise  

So one of the Bcash devs are using his algorithm instead of going with consensus while they realease spec without coding and all done behind close-doors

I'm not a coder but i'm sure you need to code first, spec and comments after...

All of this within a 2 week time line lol.

HUH?

I find this discussion confusing.  Are you really talking about Bcash, or are you referring to segwit2x, especially since you are mentioning a "2 week timeline"?

bcash is hard forking again at the same time as the s2x fork. simple

Am I going to get another coin for each BCH I hold??  What is this one going to be called?  Is this why the price increase of BCH lately?

[Meuh6879]

Bitcoin ABC has published ...

and it's not the segwit2x client ...

[bitserve]

And I'm a not-yet-rehabilitated goldbug.

That's pretty interesting. How many BTC have you traded over the years into Gold? (percentual over your current stash I mean, not real/exact figures).

Also you just said in other post that you are already on your path to retirement soon. Have you already extracted/diversified enough from Bitcoin to other more traditional investments or are you just counting on doing it later?

Maybe a bit intromissive questions, but I find really interesting the personal experiences of current successful Bitcoiners. And maybe it will be useful to me when (if ever) I reach an equivalent situation.

[jbreher]

An 11 year old should not have full title to bitcoin that was "given" to her.

You gotta build character in her first...

Otherwise, she become SPOILT BRATT, if she already NOT one. 

Jaysus, JJG - tend to your own garden, willya?

I know eight nine year olds with responsible full discretion over their Bitcoin. Hell, my granddaughters already have liquid assets larger than the average adult. Thanks to Bitcoin

https://www.wsws.org/en/articles/2014/02/04/cfed-f04.html

[JayJuanGee]

Are you really talking about Bcash, or are you referring to segwit2x, especially since you are mentioning a "2 week timeline"?

Newsflash: Bitcoin Cash will undergo an upgrade on 2017 Nov 13 in order to 'fix' the EDA (for which it has been so widely derided).

Do try to keep up.

hahahahahaha...

I figured that out a few posts back...    but, jbreher, your kind words and "help" are "always" (loosely interpreted) welcomed and appreciated.