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Question: Next Bubble Top (resulting in a new ATH):
Will never reach a new ATH - 4 (6.1%)
$20,000-$49,999 - 12 (18.2%)
$50,000-$99,999 - 20 (30.3%)
$100,000-$149,999 - 11 (16.7%)
$150,000-$199,999 - 6 (9.1%)
$200,000-$249,999 - 3 (4.5%)
$250,000-$299,999 - 1 (1.5%)
$300,000-$350,000 - 1 (1.5%)
>$350,000 - 8 (12.1%)
Total Voters: 66

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21499339 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. (138 posts by 32 users deleted.)
JayJuanGee
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August 02, 2019, 09:41:19 PM

And yeah you want to enjoy the good things while you're young, not when you are a washed up hulk at 50. :-)

Yeah young and poor is ok.  Rich and old is ok. Old and poor, not so much.

50 is not "old."  Angry 50 is "middle aged." Also, being poor sucks at any age. I know from experience. (Although I am supposedly not poor but lower middle class. Sill sucks.)

When Bitcoin hits a new post halving ATH your new wealth will advance you to upper upper lower middle class.

You can't really say that. That really depends on his BTC numbers.

He may advance to high class as well.

$100-300k net worth is what I'd consider low mid class (that's probably where he is right now) Not poor, but not exactly rich neither. Can't spend his shit as he likes which is a tight situation.

A x10 increase in BTC may push him to "high class" if he is %100 btc right now. $200k > $2m.

>$1m  net worth is what I would call, "high class"

$500k-$1m, upper mid
$300k-500k, mid
$100k-$300k, lower mid
<$100k, pretty much poor

That's how I think it anyway.

You must be joking.

>$1m net worth is only upper lower lower middle class.

>$50m net worth is only upper class.

>$100m net worth is upper upper class.

>$1000m net worth is upper upper upper class.



I don't know where you live but in where I live you are pretty much rich with a million bucks.

Of course there are factions in high class too.

I didn't say $1m is the upper high, but that's the starting point, that's where the fun begins. Even though It doesn't mean anything to many people like you nowadays, the dictionary says you are a HNWI  if you have >= $1m.

Apprently investopedia agrees with me:
https://www.investopedia.com/terms/h/hnwi.asp

TLDR: If you have more than a million bucks, (depending on where you live) you don't have to work for the rest of your life. (that's how I define "rich", not having to work)

Pretty much true, that if you have a $million in assets, you can draw about $3,333 per month of passive income with those kinds of assets (the amount is $1million x 4% = $40k/ 12) , and $2million would be a bit better and would give you $6,666 per month and actually some additional cushion.  Surely it is not filthy rich, but being able to support yourself with pure passive income does mean that you pretty much do not have to work.

Some places, $3,333 per month is going to go a lot further than other places, and surely you should be attempting to live decently below your means in order that you would be able to have and maintain an emergency cushion.
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JayJuanGee
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August 02, 2019, 09:48:47 PM


You must be joking.

>$1m net worth is upper lower lower middle class.

>$10m net worth is upper upper lower middle class.

>$20m net worth is lower lower upper middle class.

>$50m net worth is lower lower upper class.

>$100m net worth is upper upper class.

>$1000m net worth is upper upper upper class.



Sorry to barge in, but it is not a valid classification, afaik.
Here is a much better one:

https://www.accountingweb.com/practice/clients/understanding-the-five-categories-of-wealth

Bitcoin OGs are "High Asset, Low Cash Flow" Wealth.
Many/some of them are probably "Under the Radar" category.

Upon btc reaching 100K OGs would probably seek to transition from "High Asset, Low Cash Flow" to "High Asset, High Cash Flow".
Maybe this is when staking coins would surge, or, maybe, this is when OGs would start buying apartments en masse.

Another classification: $1-3 mil affluent; $3-10mil wealthy; above $10mil-rich.
In US in a larger, but not most expensive city, you have to have $3mil minimally to maintain a middle class lifestyle while not working. i guess you can call such person as wealthy enough not to worry about earning a living. Not really rich, though. Ronaldo earns 800K with one instagram endorsement post. Shaq earns 60mil/year by doing commercials. That's a high cash flow, lol.

One good thing about bitcoin is that it is very liquid, as compared with some other kinds of assets.  One bad thing is that it is volatile.  Another bad thing is that it does not necessarily earn interests on its own, but if you feel sufficiently confident that you have enough BTC, you can start to cash out of it in order to maintain your passive income lifestyle.  So if you believe that $1million is the minimum amount to accomplish that passive income life style, then you have to make sure that you have at least that amount at any point that you are cashing out.. so for example if the BTC bottom is $5k, then you would need to have at least 200 coins to be able to cash out your 4% per year or your $3,333 per month.

Of course, if you have higher standards of living then you need more coins and/or for the bottom price to be higher.  Each person should be able to determine his/her own level of comfort, and like you guys are saying there are also going to be some objective societal standards too that will vary depending upon what kinds of social circles you are rubbing elbows.
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August 02, 2019, 09:49:02 PM
Last edit: August 02, 2019, 10:23:53 PM by HI-TEC99


In US in a larger, but not most expensive city, you have to have $3mil minimally to maintain a middle class lifestyle while not working.

I heard that in posh areas of San Fransisco you would be lucky to get this for $1m.

image clipped

Not in Sanfran, but those are (900K-1mil, small, but OK to live in):
https://www.zillow.com/san-francisco-ca/?searchQueryState=

But it's a picture of a brick toilet (shithouse). Who wants to live in a brick shithouse?

I dunno, Eric Cartman, perhaps.
Or, he will rent it out at $10K/mo as a 'cozy, but nice place for deep thinkers'.

Maybe he could rent it out at $10K/mo as a 'cozy', but nice place for incontinent deep thinkers in San Fransisco, because SF is sans public toilets..
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August 02, 2019, 10:03:45 PM


Any product that can move two tons of mass at 70mph for 200 miles is going to react poorly to being shot by a high power firearm. And mistakes happen all the time with regular cars, we have simply learned to accept and balance the risk.

As for autopilot, just like in a plane the pilot has final responsibility for the aircraft. The driver has final responsibility for the car. Power steering and power brakes make the job easier but if you can't stop the car without either you should not be driving. Same with autopilot.

That tesla driver's family should pay for the damage to the truck and the cost of mopping up the blood.
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August 02, 2019, 10:09:08 PM


Any product that can move two tons of mass at 70mph for 200 miles is going to react poorly to being shot by a high power firearm. And mistakes happen all the time with regular cars, we have simply learned to accept and balance the risk.

As for autopilot, just like in a plane the pilot has final responsibility for the aircraft. The driver has final responsibility for the car. Power steering and power brakes make the job easier but if you can't stop the car without either you should not be driving. Same with autopilot.

That tesla driver's family should pay for the damage to the truck and the cost of mopping up the blood.

In fact it's a driving assist. Many people don't get this and rather see it like autocruise on the ncc 1701 - uss enterprise.
mr. spock, u there?  Roll Eyes
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August 02, 2019, 10:21:26 PM


Any product that can move two tons of mass at 70mph for 200 miles is going to react poorly to being shot by a high power firearm. And mistakes happen all the time with regular cars, we have simply learned to accept and balance the risk.

As for autopilot, just like in a plane the pilot has final responsibility for the aircraft. The driver has final responsibility for the car. Power steering and power brakes make the job easier but if you can't stop the car without either you should not be driving. Same with autopilot.

That tesla driver's family should pay for the damage to the truck and the cost of mopping up the blood.

Tesla advertises their system as FSD (full self driving), which to me is BS.
They paid up for almost identical 2016 incident and will pay up for this one as well.
For me: I decided to stay away from Tesla. Too little car for too much moola. I was never interested in FSD.
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August 02, 2019, 10:37:58 PM

HODLsleep WO’s

Good “5” dig night bro’s
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August 02, 2019, 10:58:57 PM


Looks like they just need some public toilets.  Of course San Fran is poor like India so you can understand why they can t afford to.
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August 02, 2019, 11:01:35 PM


Tesla advertises their system as FSD (full self driving), which to me is BS.
They paid up for almost identical 2016 incident and will pay up for this one as well.
For me: I decided to stay away from Tesla. Too little car for too much moola. I was never interested in FSD.

It’s not full self driving - you have to keep your hands on the wheel

I am driving 1,200 miles over the next two days. I would like autopilot.  
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August 02, 2019, 11:28:43 PM
Last edit: August 02, 2019, 11:49:03 PM by Biodom


Tesla advertises their system as FSD (full self driving), which to me is BS.
They paid up for almost identical 2016 incident and will pay up for this one as well.
For me: I decided to stay away from Tesla. Too little car for too much moola. I was never interested in FSD.

It’s not full self driving - you have to keep your hands on the wheel

I am driving 1,200 miles over the next two days. I would like autopilot.  

Be safe...

FSD is their terminology, not mine:
https://www.tesla.com/model3/design#autopilot

Quote
Starting today, Tesla is splitting Autopilot into two packages: regular Autopilot, with automatic steering on highways and traffic-aware cruise control; and Full Self-Driving Capability, with Tesla’s recently unveiled “Navigate on Autopilot” feature that guides the car from “on-ramp to off-ramp” by suggesting and making lane changes, navigating highway interchanges, and proactively taking exits.

https://www.theverge.com/2019/2/28/18245370/tesla-autopilot-full-self-driving-musk-2019

it's just marketing lingo. Most people get it, but they should not have been able to use this language.
I would suggest that several times out of a 100 Tesla would go under a truck IF that truck has a picture of a 'sky with clouds' or a picture of a high bridge on the truck's side.

To add something related to btc:

If btc will rise another 20-100X, this article might show where bitcoiners will get their cash without necessarily selling:
https://www.latimes.com/business/story/2019-07-31/art-secured-loans

With bitcoin at $1 mil, it would probably be quite safe to borrow against it at, say, 30K/btc. Loan secured by btc (treating btc almost as a collectible).
That, and maybe lending part of OGs stash out will become standard. The second path is more risky, but more lucrative for the cash flow.
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August 03, 2019, 01:18:19 AM
Last edit: August 03, 2019, 08:06:23 AM by kingcolex


Looks like they just need some public toilets.  Of course San Fran is poor like India so you can understand why they can t afford to.
Is this user generated or is this a city, or some charity that is mapping this data? Do they log it with photos? So many questions!
Also why haven't the local government powers done anything to stop this, that city must have crazy tax dollars.
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August 03, 2019, 01:28:52 AM
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Be safe...

FSD is their terminology, not mine:
https://www.tesla.com/model3/design#autopilot

Quote
Starting today, Tesla is splitting Autopilot into two packages: regular Autopilot, with automatic steering on highways and traffic-aware cruise control; and Full Self-Driving Capability, with Tesla’s recently unveiled “Navigate on Autopilot” feature that guides the car from “on-ramp to off-ramp” by suggesting and making lane changes, navigating highway interchanges, and proactively taking exits.

https://www.theverge.com/2019/2/28/18245370/tesla-autopilot-full-self-driving-musk-2019

it's just marketing lingo. Most people get it, but they should not have been able to use this language.

I love Tesla and their technology, but that does not seem wise to be calling it that. When lives are on the line, you underpromise and overdeliver, not the other way around.
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August 03, 2019, 01:57:42 AM

Is this user generated or is this a city, or some charity that is mapping this data? Do they log it with photos? So many questions!

http://mochimachine.org/wasteland/

https://www.sfgate.com/bayarea/article/SnapCrap-app-San-Francisco-poop-feces-dirty-street-13281837.php

some perspective https://sf.curbed.com/2019/4/23/18511865/sf-poop-human-waste-map-forbes-dpw-dog
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August 03, 2019, 02:10:17 AM

Be safe...

FSD is their terminology, not mine:
https://www.tesla.com/model3/design#autopilot

Quote
Starting today, Tesla is splitting Autopilot into two packages: regular Autopilot, with automatic steering on highways and traffic-aware cruise control; and Full Self-Driving Capability, with Tesla’s recently unveiled “Navigate on Autopilot” feature that guides the car from “on-ramp to off-ramp” by suggesting and making lane changes, navigating highway interchanges, and proactively taking exits.

https://www.theverge.com/2019/2/28/18245370/tesla-autopilot-full-self-driving-musk-2019

it's just marketing lingo. Most people get it, but they should not have been able to use this language.

I love Tesla and their technology, but that does not seem wise to be calling it that. When lives are on the line, you underpromise and overdeliver, not the other way around.

Fair comments
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August 03, 2019, 02:32:23 AM
Last edit: August 03, 2019, 02:42:45 AM by JayJuanGee

Seems like some more shorts are getting rekt!!!!!  

Maybe some more purging of shitcoins, too?  relative to BTC.

Guys still betting on BTC "down before UP"?     Cheesy Cheesy Cheesy Cheesy


Seems to become a bit more and more challenging to experience "down before up" when the current BTC price keeps moving a further and further upwardly distance from its current correction (local) low of $9,049, no?    Currently observing $10,775 with flash pumpenings up to $10,798.




bigger and Bigger and BIGGER price











gap?  












AmiNOTrite?   Cheesy Cheesy








waaaaachyagonnaduuuuu?    Tongue
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August 03, 2019, 03:04:19 AM

bigger and Bigger and BIGGER price


De price is velly nice
JayJuanGee
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August 03, 2019, 03:10:05 AM

bigger and Bigger and BIGGER price


De price is velly nice

Yeah...

Anyone complaining besides jonoiv or roach?
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August 03, 2019, 03:11:52 AM

Fine.
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August 03, 2019, 03:36:14 AM

Fine.

Great.. I am glad to hear from you bitserve, regarding this particular assessment of "fine".....

even though many of us, including ur selfie, likely recognizes that corn gives approximately less than two shits about the from time to time assessment of any of us.

 Cheesy Cheesy Cheesy Cheesy

 Wink

bitserve
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August 03, 2019, 04:04:36 AM

Fine.

Great.. I am glad to hear from you bitserve, regarding this particular assessment of "fine".....

even though many of us, including ur selfie, likely recognizes that corn gives approximately less than two shits about the from time to time assessment of any of us.

 Cheesy Cheesy Cheesy Cheesy

 Wink



It's fine though Wink
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