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

[Biodom]

Is there any impact on cryptocurrency such as Bitcoin if that "facebookcoin" will launch?
Like, it is possible the market cap of some cryptocurrency will decrease because of facebook?

Facebookcoin will be everything bitcoin is not. It'll be reversible, blockable, confiscatible, its value will be tied to the fiat currencies it's pegged to, and most importantly to many it won't make you any money.

Remittance is the one area I can see it eating cryptos theoretical lunch but then again they're partnering with Western Union which won't be a bargain.

I think Facebook will turn out to have bitten off more than they can chew. Compliance will be an utter nightmare.

If it's to have any effect it'll be to remind people how important the real deal is.

I fail to see the point of such facebookcoin. Why would someone need a monstrosity seemingly correlated with a basket of currencies?
That means that you can still lose value. A 'stable" currency that is not stable? If it is not stable, then you are still liable for the capital gains? Who needs it?
It's a lame attempt of outdoing Wechat, I suppose.

[btcsmlcmnr]

Since 7/2015, bitcoin brings the highest cumulative miner revenue for miners among Bitcoin, Litecoin, and Ethereum.

Since ETH's inception, BTC's total miner revenue is 2x ETH's and 11x LTC's.

[infofront]

Two kids accept bitcoins as a payment method in their small lemonade shop!
https://twitter.com/cryptomodel/status/1131300872170946560

Then, when the government finds out:

[Paashaas]

Relax and start planning to make your dreams come true. Financial freedom at the horizon is imo already a certain outcome.

Somehow, i have this nagging feeling that it might not happen.
Essentially, it would mean minting of millions of new millionares.
Too much deviation.
I actually tried to calculate what would be the price of btc be for total numbers of millionaires going up by less than 10% (from the current 33-36 mil millionaires).
I got about 0.86btc-1.28btc for $1 mil or 780K-1.16mil/btc (for total of about 2.75-3.5 mil accounts).
This is possible, but too much of a dream. How often dreams come to a realization?

I had the same vibe at 20K...feeling that it is somehow wrong. Maybe too early?

You should hold that one full coin for atleast 5-10 years. I know it is a long time but you will reap the benefits big time.

[xhomerx10]

 

[Biodom]

Relax and start planning to make your dreams come true. Financial freedom at the horizon is imo already a certain outcome.

Somehow, i have this nagging feeling that it might not happen.
Essentially, it would mean minting of millions of new millionares.
Too much deviation.
I actually tried to calculate what would be the price of btc be for total numbers of millionaires going up by less than 10% (from the current 33-36 mil millionaires).
I got about 0.86btc-1.28btc for $1 mil or 780K-1.16mil/btc (for total of about 2.75-3.5 mil accounts).
This is possible, but too much of a dream. How often dreams come to a realization?

I had the same vibe at 20K...feeling that it is somehow wrong. Maybe too early?

You should hold that one full coin for atleast 5-10 years. I know it is a long time but you will reap the benefits big time.

Ah, it's a number that I got in a calculation (for a projected scenario), not a coin that I may or may not have.

TL;DR: too high a price of bitcoin (in the multiple millions) will result in a drastic increase in global millionaire numbers (if hodlers do not sell en masse), which is unlikely, therefore the price in the multiple millions is unlikely.
My calculated upper bound price of btc that does not affect the total number of millionaires too much is about $1mil/btc.

[Phil_S]

That lemonade stand is well done. Looks a little bit too good, in fact. Makes me suspicious.

[Biodom]

Two kids accept bitcoins as a payment method in their small lemonade shop!
https://twitter.com/cryptomodel/status/1131300872170946560

The btc addr of that QR code ....is not a segwit address...
yet, new generation chooses btc!

[actmyname]

Two kids accept bitcoins as a payment method in their small lemonade shop!
https://twitter.com/cryptomodel/status/1131300872170946560

The btc addr of that QR code ....is not a segwit address...
yet, new generation chooses btc!

when lightning node?

[Toxic2040]

1h

[BTCMILLIONAIRE]

On a semi serious note..just talking about things can be helpful for some. Hope you feel better soon.

I already do feel like a bit of a load is off, and seeing Bob and LFC open up first helped. I just need a more positive outlook I think.

You can actually "reprogram" yourself in away you want. It takes forever and it sounds cliche and feels retarded, but it works.

Brain constantly creates random thoughts based on your past, it's up to you to choose which you focus on or if you want to add others. What you focus on becomes a feedback loop that eventually turns "real".

I think the basic mechanism is the brain not wanting to do anything new actively, since that's expensive. To combat that it'll try to tell you that you "can't do it", "it's stupid", "pointless", "cringe", whatever it can throw at you so it can just keep the same old program on repeat.

Possibly also why people sometimes have to hit rock bottom only to then miraculously change.

Or why people believe that hyperwaves apply to everything because they already worked in the past.


Also, I'm not sure if depression is actually bad. It might be a mechanism that is supposed to get us to stop doing what isn't working and seek out new solutions.


Just random SOMA that may or may not be accurate. If I had to bet on it I would say it is to some degree, but I'm no neuroperson so I don't really know either way.


Anyway, best wishes.

[BTCMILLIONAIRE]

The price is about $3k higher than it should be at this part of the cycle.   We are already higher than what the December 2019 peak should be. It’s all gravy.

Am I the only one kind of wishing their lives away until a point in the future, probably late 2021 or something?

Doubt it. I've been wanting a fast forward button for a while.

Although it's probably best that we don't have one, at least for as long as our life spans are limited.

Just imagine a bunch of people racing towards the end.

[VB1001]

Good morning WO,s

Reading the last pages, very interesting comments about the real life of the people, for this reason I always say that you have to read all the pages, you always learn something.

Thx.

[BTCMILLIONAIRE]

It is BEST that we can do it alone! After this, you will become a higher level than yourself, and you will find that with your problems, you will always have to remain alone (this is a fact), but you will already be ready for this!
I think so.

Personally I find human beings a pain up the arse in all circumstances and if I was feeling down in the dumps the last thing I'd want is one sat in front of me attempting to empathise. I'd kick their head down the toilet and go off somewhere to be on my own.

Most people do not feel that way and that's fine.

I'm between LFC and you on this one. When I was depressed I'd very much prefer being alone. But when people appeared around me they wouldn't be able to tell.

Although I'm not sure if the situation would change if I was forced to be around people constantly with no means of retreat.

[BTCMILLIONAIRE]

Ah, it's a number that I got in a calculation (for a projected scenario), not a coin that I may or may not have.

TL;DR: too high a price of bitcoin (in the multiple millions) will result in a drastic increase in global millionaire numbers (if hodlers do not sell en masse), which is unlikely, therefore the price in the multiple millions is unlikely.
My calculated upper bound price of btc that does not affect the total number of millionaires too much is about $1mil/btc.

You are missing a number of factors. There will be the first trillionaire not too long from now. The global population is steadily increasing. Global economy growing. Inflation isn't going to stop anytime soon. To name a few.

It's a given that the number of millionaires will grow by an order of magnitude within our lifetime. Heck, what even is a million these days? Unless you move to a shithole, or resign to a very modest life you won't really be getting anywhere.


How much of that money will land in Bitcoin is another story. But "too many millionaires" is not an argument against it. I don't see multi-million BTC as implausible in 2030-2050 and certainly not beyond.

  

Sneaky sneaky.

[JSRAW]

Hmmm.. looks up -nods-

From shithole

[mindrust]

$1m can still provide you a good life in any decent country.

I wouldn't underestimate the purchasing power of a $1million. It is still decent money by today's standards

You can buy a house/flat for $400k
A good car (not really necessary but let's buy it anyway) > $50-100k
And you can start a decent business with the remaining $500k.

I mean any business you'll be doing without getting bored. You can even make random trades in foreign currencies and still double your money even though you don't know what you are doing.

All you need to do is buy low, sell high. Eur/usd pair... or usd/gbp... (personally i would stay the fuck away from gbp)

Or just rent a shop and start one of those local crypto exchange services. And sell crypto physically. I would do that job and $500k is more than enough. You 'll have to interact with people. Might be a good thing or bad.  

If you don't want to work at all a bank would give you $1k-1.5k monthly interest payments for your $500k. Not really the smartest choice but still an option. You can use it as a temporary solution while you think on a good business idea.

Another option is trading btc, but since btc constantly shits on traders by going up, it is just better to hodl it and we are talking about the other possibilities outside of hodling bitcoin

***
As you see I don't have much big expectations at all. Just a house, a car, and a business which i love doing. Maybe that's my problem. (Thinking smaller than most WO readers)

[nutildah]

Good morning WO,s

Reading the last pages, very interesting comments about the real life of the people, for this reason I always say that you have to read all the pages, you always learn something.

That's true. The dialog in here (for the most part) is more stimulating and educational than most other places on the forum.

In addition to this thread, which could be a child board of its own, my other favorite hangouts are in bold.

Bitcoin Discussion - 80% over run by shitposters but occasionally some good discussion
  Press - some interesting discussion about news items, not well traversed
Development & Technical Discussion - never go there
Mining - there neither
Bitcoin Technical Support - never once
Project Development - never
Economics - only this thread
Marketplace - can't receive physical mail so I don't care
Trading Discussion - never
  Scam Accusations - my bread & butter
  Reputation - my favorite soap opera
Meta - good for interesting stats, making fun of the recently banned, when nothing new is happening in Reputation
Politics & Society - a reminder of why I hate politics, and society
Beginners & Help - some genuine altruism going on there but boring
Off-topic - absolute shit and madness, the lowest part of the forum's colon
Serious discussion - good but a bit too serious, hardly anyone posts there
Altcoin Discussion - 98% over run by shitposters, bounty hunters, other wretches
Announcements (Altcoins) - a stunning repository of scams, and home of some genuinely good projects. When I'm bored I got there to suss out malware-ridden clients/websites, plagiarized white papers and fake teams. Its fun, you should try it!

For my 5,000th post I have something special in mind, it will be posted in Scam Accusations. I feel I have more than enough evidence to proceed at this point. I surely will by then.

[BTCMILLIONAIRE]

I'm exaggerating a little of course. But $1m used to be "retire money". Now it's at best "you better watch out and don't become complacent" money in many places.


Of course one shouldn't forget the standards of living. Even in a "shithole" the food is worlds better than what kings used to dine on. I wouldn't want to live in any time preceding ours, regardless of money or status.

[kenzawak]

Good morning WO,s

Reading the last pages, very interesting comments about the real life of the people, for this reason I always say that you have to read all the pages, you always learn something.

Thx.

Yep, I love reading about colonoscopy while I'm having breakfast.

 Damn that seems familiar somehow...

I thought we agreed to never post that pic again !