JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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September 03, 2019, 05:15:39 AM |
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One more BTC bull run and that's it. I'll be unemployed, living on passive income just like makrospex.
Merited, but bitcoin does not provide passive income, unless you are into rehypothecation games with blockfi, etc. BTC is a hard money, but you need to exchange it to soft money to live off of (for now). It's totally possible to replace a salary with interest payments on Bitcoin holdings without selling. If you have held for enough years. The only option I know is Celsius. yes, blockfi and Celsius, but such interest is not "native" to bitcoin blockchain and comes from a third party re-hypothecating your btc that you "lend" to them. Essentially, you have to assume that they don't go belly up somehow and would always return your btc. Do you feel lucky, hodler? That is true, you must investigate their reputation and trust them. I've held since 2013, i feel like I earned the reward. Superhuman patience is required that very few posses. Freebitco.in gives you %4.08/year with a daily compounding interest. I have some bitcoins there. A bit risky but I am biting the bullet here. I have been biting at the chomps about whether I should respond to this thread of conversation, and you surely have to weigh your risks when you put some of your BTC stash with some of those third party entities to "earn interest." I can surely understand the urge to earn more BTC, but there is really no free lunch, and personally, I think that many peeps are going to be way the fuck better off to just accumulate as much BTC as you can by just buying it or any other reasonable way that is available to you without putting your principle at unnecessary risks. Accordingly, if you are able to accumulate a sufficient amount of BTC, then you can live off of it's likely appreciation in value, which seems to be goddamned likely, especially if you have at least a 5 year timeline (3.5 years has been the historical bare minimum in BTC, but history does not guarantee future results). So, I am suggesting to accumulate enough that you can calculate a withdrawal rate that goes to a decent amount of years in your life that is likely to only affect maintenance levels of withdrawal of your BTC but then you can also go on a more aggressive withdrawal rate if you believe that your life is going to end at a certain period of time (which is likely difficult to measure with any kind of precision). In previous posts, I have gone into detail about what I would consider to be a reasonable maintenance withdrawal rate, which is 1% per quarter. Anyhow, you can apply BTC quantities to your own life style situation (or expectation of standard of living) to figure out how many BTC you would need in order to be able to sufficiently use BTC income to pay for all of your expenses or to supplement any other income that you might have in order to achieve a maintenance level of withdrawal versus a depletion of principle rate of withdrawal. Of course the depletion of principle rate of withdrawal is the more aggressive of the withdrawal systems. Check out Alex mashinsky's background, he's CEO founder of Celsius. I think putting 30% of holdings with him is a good risk level, if you have alot accumulated. My point is that I believe that it is not necessary. I believe that either BTC is going to continue to perform sufficiently well, and even if it does not, for me, even if I have to cash in at these prices I am good (as long as prices are above $5k). I have gotten to my current position because of BTC's past performance, and even if BTC does not perform as well as it has in the past, I am well able to cash out 1% per quarter without really putting my principle at risk. I believe that other people can reach a similar status as me. Overinvest into BTC and that way you have a cushion, even if BTC dips, you have sufficiently enough, and the extra earning of interest is NOT necessary... especially once you might have gotten past your accumulation stages, you are in either a maintenance or a liquidation stage and ultimately you have already built up equity... Currently my equity is about 12x, so I don't even mind cashing out at $5k which would be about 6x, but I believe that I am never going to have to worry about cashing at $5k or below because in the next 3-5 years, when I start cashing out significantly, I am not going to have to worry at all.. I have plenty of money without having to worry about that kind of third party risk and bitcoin will likely continue to appreciate... and other guys (and gal) will have decent chances to put themselves into a similar situation as long as they have invested in BTC for 5 years or more... now if guys (and gal) are not able to put as much capital into BTC as I had been able to do, then it might take them longer.. maybe 10 years, but still that does not necessarily justify counting on that kind of an interest system in order to make your BTC based passive income plan function quite well. I spend the interest as I get it, I'm retired. And prefer to sell Bitcoin when it's overvalued then spend it now. But if there's other ones out there, would like to investigate those as well. Blockfi has very low lending limits.
Sure, ultimately it is up to you if you believe putting a portion of you BTC into such a plan is helpful overall and worth the risk. |
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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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Negotiation
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September 03, 2019, 05:25:27 AM |
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"FTFY".
Fixed that for you Thanks, @JSRAW Bhai for fixed it. #Bitcoin historically appears to hover around each new zero before blasting to new ATH's. From $9 to $10, $90 to $100 and $900 to $1000. The last time it hovered on the zero was Jan to May 2017 before it shot up. The tension is building.  Source: https://twitter.com/Bitcoinlife2012/status/1168679933326921729 |
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Wilhelm
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Activity: 1652
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September 03, 2019, 05:25:54 AM |
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I really like the look of this projected chart, especially the next ‘crash’ which shows the price at still over the current ATH. I can definitely live with that. It's a bit bullish. Of course, it could happen like that, but having a correction that only takes bitcoin back down to $60k as its low seems god-damned optimistic. Compellingly so.   Looking at 2024 onwards makes me drool like a idiot....  $6M per BTC or higher ... Will be curious if BTC plays out anywhere nearly as bullish as that projection, especially if you are expecting a similar trajectory in 2024. I am not saying that it could not happen, but I just have a hard time imagining such a bullish scenario. I will have to be getting gold-platted elderly diapers. Won't know how to spend all of the money. might have to start buying alts (like some other filthy rich peeps) in order to throw a sufficient amount of my money away. I believe, but I am not sure, if I would want to live frugally like warren buffet in my old age. I imagine your life would feel like winning monopoly, owning the bank, and owning everything except one street and continuing to play .... watching other players struggling... |
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JayJuanGee
Legendary
Online
Activity: 3696
Merit: 10154
Self-Custody is a right. Say no to"Non-custodial"
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September 03, 2019, 05:27:13 AM |
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We are all dirty young men until we become dirty old men and its tough to tell exactly when that happened. I know precisely when it happened. I remember it well. I was at the local grocery picking up a few things. As I moved down the aisle toward another shopper I noticed her pull her child closer...the look on her face I had never seen before. I had to look at myself, tattered jeans, rotting army coat, and I realized that I was no longer that cute, harmless, punk rock kid, but a possibly homeless middle aged man. Didn't bitcoin raise you out of such appearances, yet? We are doing well currently. Well Rosewater Foundation, might be another story. |
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Negotiation
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September 03, 2019, 06:09:51 AM |
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Welcome. what is the name of species Corn? |
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BitcoinGirl.Club
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Farewell LEO: o_e_l_e_o
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September 03, 2019, 06:17:38 AM |
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Good morning WO!
Observing corn @10,420.
Good morning too. My observation is @ $10,400 Corn is getting beautiful!  No need to spend money on buying pearls for my lady anymore 🤪 |
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LUCKMCFLY
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Activity: 2394
Merit: 1848
Leading Crypto Sports Betting & Casino Platform
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September 03, 2019, 06:20:41 AM |
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A great analysis of the Crypto market .. • The total crypto market cap recovered nicely and broke the key $250.0B resistance area. • Bitcoin price is up more than 7% and it recently climbed above $10,400. • Binance coin (BNB) price is also gaining momentum and it recently broke the $22.50 resistance. • Litecoin (LTC) price is facing a few solid hurdles near the $68.00 and $70.00 levels. • BCH price is up more than 5% and it is about to break the $300 resistance area. • Tron (TRX) price is slowly moving towards the $0.0160 and $0.0162 resistance levels.  The crypto market cap and bitcoin (BTC) are currently surging above key resistances.Ethereum (ETH), litecoin, ripple, BCH, TRX, XLM, BNB and EOS are also correcting higher.  Source: https://www.newsbtc.com/2019/09/03/bitcoin-price-btc-signaling-bullish-reversal/And we could say that it is confirmed by breaking up:  Source: https://www.tradingview.com/chart/BTCUSD/GlU7dhnA-BITCOIN-UP-OR-DOWN-OF-THE-TRIANGLE/I think that if we take into account the new events that give a lot to talk about, such as the so-called "Cepo" of Argentina, it may have helped a little to raise the price if we apply the simple Offer-Demand Law. |
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Negotiation
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September 03, 2019, 06:22:56 AM |
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Good morning WO!
Observing corn @10,420.
Good morning too. My observation is @ $10,400 Corn is getting beautiful! No need to spend money on buying pearls for my lady anymore 🤪 Welcome waiting to see next people come back to say Observing girl -$10k BTC likely 4digit. |
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fillippone
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Fully fledged Merit Cycler - Golden Feather 22-23
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September 03, 2019, 06:25:53 AM |
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Welcome. what is the name of species Corn? Follow the twitter link, a long corn related informations! |
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JayJuanGee
Legendary
Online
Activity: 3696
Merit: 10154
Self-Custody is a right. Say no to"Non-custodial"
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September 03, 2019, 06:39:34 AM |
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I really like the look of this projected chart, especially the next ‘crash’ which shows the price at still over the current ATH. I can definitely live with that. It's a bit bullish. Of course, it could happen like that, but having a correction that only takes bitcoin back down to $60k as its low seems god-damned optimistic. Compellingly so. Looking at 2024 onwards makes me drool like a idiot.... $6M per BTC or higher ... Will be curious if BTC plays out anywhere nearly as bullish as that projection, especially if you are expecting a similar trajectory in 2024. I am not saying that it could not happen, but I just have a hard time imagining such a bullish scenario. I will have to be getting gold-platted elderly diapers. Won't know how to spend all of the money. might have to start buying alts (like some other filthy rich peeps) in order to throw a sufficient amount of my money away. I believe, but I am not sure, if I would want to live frugally like warren buffet in my old age. I imagine your life would feel like winning monopoly, owning the bank, and owning everything except one street and continuing to play .... watching other players struggling... It might be o.k. I have been relatively frugal all of my life, even while my standard of living did increase, so there might be some difficulties to adapt - as compared with either growing up rich or even becoming rich in your 20s, then you might be able to really adapt by the time you are in your 40s. In my case, I am older than that. I already had more than 30 years of investing and becoming more and more rich with a kind of exponential growth that came with bitcoin and seems to have decent chances of continuing in the coming 3-5 years or perhaps less, as we all kind of expect a bit of a boom and perhaps even another blow-off top to happen no later than the end of 2021, but likely sooner than that. |
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JayJuanGee
Legendary
Online
Activity: 3696
Merit: 10154
Self-Custody is a right. Say no to"Non-custodial"
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September 03, 2019, 06:51:10 AM |
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A great analysis of the Crypto market .. • The total crypto market cap recovered nicely and broke the key $250.0B resistance area. • Bitcoin price is up more than 7% and it recently climbed above $10,400. • Binance coin (BNB) price is also gaining momentum and it recently broke the $22.50 resistance. • Litecoin (LTC) price is facing a few solid hurdles near the $68.00 and $70.00 levels. • BCH price is up more than 5% and it is about to break the $300 resistance area. • Tron (TRX) price is slowly moving towards the $0.0160 and $0.0162 resistance levels. The crypto market cap and bitcoin (BTC) are currently surging above key resistances.Ethereum (ETH), litecoin, ripple, BCH, TRX, XLM, BNB and EOS are also correcting higher. Source: https://www.newsbtc.com/2019/09/03/bitcoin-price-btc-signaling-bullish-reversal/And we could say that it is confirmed by breaking up: Source: https://www.tradingview.com/chart/BTCUSD/GlU7dhnA-BITCOIN-UP-OR-DOWN-OF-THE-TRIANGLE/I think that if we take into account the new events that give a lot to talk about, such as the so-called "Cepo" of Argentina, it may have helped a little to raise the price if we apply the simple Offer-Demand Law. That's all fine and dandy. Yet, in this thread, we do not tend to care too much about making overall crypto market trends and assertions because those kinds of analysis tend to be too vague and are not really thread specific.. which we talk about king daddy bitcoin here. Another thing that seems to be taking place, on the longer trend is an ongoing purging of the froth in the altcoin (shitcoin) market, so yeah, maybe some of those shitcoins will start to perform, but I believe that a lot of members here, apart from the trolls and shills kind of have a preference to see shitcoins getting purged more and more and more, so perhaps the overall growth of the "crypto" market is an indicator that is important to consider, but I doubt that it is as important as figuring how king daddy is doing relative to the other crap.. Also, I have held a kind of tentative theory that alt coins are going to get another pump, along with bitcoin, but the performance of altcoins in the past year or so, and maybe even moreso in the past 4 months has been lending more credence to a possible outcome in which even fewer of them pump (or have any kind of season), so that might even be a better scenario in terms of bringing the importance of bitcoin more to the front - since a lot of the altcoins tend to believe their path to pumpening success is to mislead folks into believing that either there is something wrong with bitcoin or that they are serving some kind of comparable role to king daddy.... which over the years, several of us, here in these parts, have found to be negative general altcoin attributes... |
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serveria.com
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Privacy Servers. Since 2009.
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September 03, 2019, 07:00:29 AM |
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is it safe to invest in btc now?
My guess is we'll be taking off to $50k+ in a few months Shut up, your guess 2 days ago was $8k |
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serveria.com
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Privacy Servers. Since 2009.
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September 03, 2019, 07:05:50 AM |
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 Pointing in the right direction, let's go !!! BTCI was about to send you a smerit for this lovely pic; however, I was not sure about the symbolism of it? Does it mean top? or a double top? TLDR: looks simultaneously nice and scary I guess the nipples pointing UP?  |
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JayJuanGee
Legendary
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Activity: 3696
Merit: 10154
Self-Custody is a right. Say no to"Non-custodial"
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September 03, 2019, 07:12:20 AM |
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is it safe to invest in btc now?
My guess is we'll be taking off to $50k+ in a few months Shut up, your guess 2 days ago was $8k Hahahahaha podyx seems to blow with the wind. Pointing in the right direction, let's go !!! BTCI was about to send you a smerit for this lovely pic; however, I was not sure about the symbolism of it? Does it mean top? or a double top? TLDR: looks simultaneously nice and scary I guess the nipples pointing UP? Well, you must be a tad bit more brave of a fellow than myself. My mesmerization remains a bit scared, here. |
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podyx
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September 03, 2019, 07:27:40 AM |
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is it safe to invest in btc now?
My guess is we'll be taking off to $50k+ in a few months Shut up, your guess 2 days ago was $8k LMAO true. But I think IF we were to go down we wouldnt stay below $10k for more than a month |
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Majormax
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September 03, 2019, 08:23:17 AM Merited by JayJuanGee (1) |
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Also, I have held a kind of tentative theory that alt coins are going to get another pump, along with bitcoin....
That is a widely held belief amongst alt hodlers/traders. However, there is an older, and even more widely held view, that there is ultimately only room for a handful (or one dominant) long term globally adopted crypto. That means that all the losers are on a long road to oblivion. This alt bear market is one stage on that road. It is simply natural selection. A hope for another pump is all that is left. Interestingly, that chimes with investors' behaviour in stock investments. They invariably hold losers to zero, hoping for 'one chance' to get out. |
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El duderino_
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BTC + Crossfit, living life.
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September 03, 2019, 08:51:51 AM |
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Also, I have held a kind of tentative theory that alt coins are going to get another pump, along with bitcoin....
That is a widely held belief amongst alt hodlers/traders. However, there is an older, and even more widely held view, that there is ultimately only room for a handful (or one dominant) long term globally adopted crypto. That means that all the losers are on a long road to oblivion. This alt bear market is one stage on that road. It is simply natural selection. A hope for another pump is all that is left. Interestingly, that chimes with investors' behaviour in stock investments. They invariably hold losers to zero, hoping for 'one chance' to get out. I always had the belief to spread a bit of money over some ALT's just for worst case scenarios, though i'm happy I was a very convinced BTC-believer and kept around 90% of my entire crypto holdings in BTC itself... But as Doug Polk also mentioned a few times I do think there will be some ALT's that could have some use (still if its not i'm totally happy with it as well) |
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El duderino_
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Activity: 2492
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BTC + Crossfit, living life.
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September 03, 2019, 08:58:23 AM |
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is it safe to invest in btc now?
My guess is we'll be taking off to $50k+ in a few months Shut up, your guess 2 days ago was $8k LMAO true. But I think IF we were to go down we wouldnt stay below $10k for more than a month SU shut up & SU suit up   We got some 50K to catch |
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