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

[kurious]

John Mcafee is in hospital.

Choked on his own dick?

 Naw. It's just that he hasn't been in the limelight most of this summer so he had to do something to get another 15 minutes.  Probably something cosmetic.

He was hiding out in the north of Iceland until the last week in August, so I have been reliably informed...

[jojo69]

jeebus, this next boom is going to be...um...big

I'm feeling kind of giddy, but also just a tad sick, I might need one of those NASA logo barf bags.

[Dabs]

.. however, part of the problem is then attempting to figure out where I would like to put such extra cashing out value... There will be a bit of a dilemma for me, that it would be better for me to attempt to resolve ahead of time, rather than trying to figure out that channeling of funds issue during another exponential BTC price rise, if that were to come again.    

Help others ... give them both the advice of your more than 30 years experience as well as a little start ... your prodigy just might be the next Warren Buffet.

But that is exactly what JJG does. Be could blooded, not frozen, not boiling and thread lightely so no bull or whale or bear hears your steps... .   Some dislike JJG long discours, but mostly he is saying interesting things. And just as everyone of us he also sometimes has a grumpy day... .  

I meant something more substantial than just ... more than words ... There are people out there who are less fortunate than others, who don't have a roof over their heads, who don't know where to get their next meal, but could, one day pay it forward if only given the chance.

The younger generations are always the future.

He does say the right things particularly about traditional investing because those things do have 30 to 50 year histories. The stock market as we know it has been around for at least a hundred years, and before that ownership of corporations or large entities have existed for hundreds of years before that.

Trades were made on paper, on the "trade floor" ... eventually running on sophisticated software on mainframes and computers.

In all that time, or at least the most recent 50 years, the stock market of the entire world has been going up relentlessly, because all corporations exist to make profits, and those that remain on the major indexes, like the DOW JONES or the S&P500 ... they are "self-cleaning" ... Amazon and Microsoft were not in any of them 20 years ago. Today they are.

Just like, bitcoin did not exist 10 years ago. Now it's 200 billion total market capitalization with an absent founder, who hasn't touched any of the mined coins, coins mined because no one else would at the time, and that continues to evolve. It has a life of it's own, aided by the tens of thousands of full nodes and hundreds of countries around the world, and the millions of miners and 100 exahashes of computations per second, with a conglomerate of non-related and often competitive exchanges that provide the most liquid asset class across international borders, that now even world leaders pay attention this whole bitcoin thing.

Nothing else comes close.

The institutions are coming.
The bulls are coming.

Some of us won't be able to ride the wave (I am thinking I am one of them) because they've got nothing else and lost it all or are even negative.

[Hueristic]

Roger Waters?

Was my thought as well.

[Hueristic]

Hearing talk of putting mesh network antennas in phones next, as it's hardly against manufacturer's interests any more.
Which is nice.

Are you hip to David Rowe's work?

i started scrolling through that and drool started coming out.
I now feel like I have the IQ of a potato.

He did the mesh potato for village telco

The maths are beyond me, but fascinating work.

This link was easier.

[Hueristic]

.. however, part of the problem is then attempting to figure out where I would like to put such extra cashing out value... There will be a bit of a dilemma for me, that it would be better for me to attempt to resolve ahead of time, rather than trying to figure out that channeling of funds issue during another exponential BTC price rise, if that were to come again.   

Help others ... give them both the advice of your more than 30 years experience as well as a little start ... your prodigy just might be the next Warren Buffet.

But that is exactly what JJG does. Be could blooded, not frozen, not boiling and thread lightely so no bull or whale or bear hears your steps... .  Some dislike JJG long discours, but mostly he is saying interesting things. And just as everyone of us he also sometimes has a grumpy day... . 

I meant something more substantial than just ... more than words ... There are people out there who are less fortunate than others, who don't have a roof over their heads, who don't know where to get their next meal, but could, one day pay it forward if only given the chance.

The younger generations are always the future.

He does say the right things particularly about traditional investing because those things do have 30 to 50 year histories. The stock market as we know it has been around for at least a hundred years, and before that ownership of corporations or large entities have existed for hundreds of years before that.

Trades were made on paper, on the "trade floor" ... eventually running on sophisticated software on mainframes and computers.

In all that time, or at least the most recent 50 years, the stock market of the entire world has been going up relentlessly, because all corporations exist to make profits, and those that remain on the major indexes, like the DOW JONES or the S&P500 ... they are "self-cleaning" ... Amazon and Microsoft were not in any of them 20 years ago. Today they are.

Just like, bitcoin did not exist 10 years ago. Now it's 200 billion total market capitalization with an absent founder, who hasn't touched any of the mined coins, coins mined because no one else would at the time, and that continues to evolve. It has a life of it's own, aided by the tens of thousands of full nodes and hundreds of countries around the world, and the millions of miners and 100 exahashes of computations per second, with a conglomerate of non-related and often competitive exchanges that provide the most liquid asset class across international borders, that now even world leaders pay attention this whole bitcoin thing.

Nothing else comes close.

The institutions are coming.
The bulls are coming.

Some of us won't be able to ride the wave (I am thinking I am one of them) because they've got nothing else and lost it all or are even negative.

Is this your best JJG?

[jbreher]

I did not say the protocol could not be changed. I am pointing out Krubster's rather daft implication that the Satoshi-CSW question has anything whatsoever to do with the fact that SegWit is the alteration.

Sir,

I have always respected you. Not for your believes, but for being a gentleman and keeping a civilized tone despite all the (unfair?) bashing you receive.

Thank you for that. I respect you as well.

Your insinuation that the Craig-Satoshi conundrum has anything to do with SegWit being an alteration to the Bitcoin protocol, however, remains daft. Granted, it was likely a mere rhetorical talking point. But if so, why stoop to that level of inanity?

You're very intelligent, I give you that. I do however don't agree with you. For me, segwit is bitcoin, anything else is an altcoin.

Hmm. SegWit _is_ Bitcoin? Like, if one does not employ SegWit, then one is using something other than Bitcoin? That is certainly not the bill of goods we were sold at inception. Nor at the activation of SegWit.

Just because segwit wasn't mentioned in the whitepaper some 10 years ago, doesn't mean it can't be bitcoin.

Debatable. Though I can acknowledge that such a position has some shred of rationality to it.

Things evole. Technology improve. Just as bitcoin has improved. Segwit is a part of that improvement.

Again, 'improved' is debatable.

[jbreher]

How could evidence of personal identity have anything whatsoever to do with evidence of protocol change?

I'm not sure if you're trolling or trying to be serious.

Back at ya.

See any evidence of SegWit in the white paper? No?

Explicitly in front of your face. Willful dereliction of truthiness.

SegWit was indeed an alteration of the Bitcoin protocol. Undeniably. There is really no way to argue otherwise.

I am pretty confident the white paper doesn’t say anything about Turing completeness, legally enforceable smart contracts, token protocols,  large data storage capability and all the other shit in Bitcoin SV marketing

Yet interestingly, all fully supported in the 0.1 version of the Bitcoin protocol. You know, before the Cripple Rangers took control of the codebase. SegWit, on the other hand...

Funny, eh?

So what's the point you are trying to make?

[Biodom]

How could evidence of personal identity have anything whatsoever to do with evidence of protocol change?

I'm not sure if you're trolling or trying to be serious.

Back at ya.

See any evidence of SegWit in the white paper? No?

Explicitly in front of your face. Willful dereliction of truthiness.

SegWit was indeed an alteration of the Bitcoin protocol. Undeniably. There is really no way to argue otherwise.

I am pretty confident the white paper doesn’t say anything about Turing completeness, legally enforceable smart contracts, token protocols,  large data storage capability and all the other shit in Bitcoin SV marketing

Yet interestingly, all fully supported in the 0.1 version of the Bitcoin protocol.

By golly, sometimes you almost sound like you wrote it (or was involved at an early stage)...since everything afterwards was "crap".
If you did-much respect. Respect even if you did not and just being a bit cranky about later comers like PW re-writing/modifying a "perfect" code.
Does "perfect" code even exist?

[JayJuanGee]

I think, in the spirit of DCA when cashing out, the prudent thing is to stick to a fixed schedule.

If it's every quarter, pick a date and use that all the time.
If it's every month, pick a date and use that all the time.
If it's a particular weekday of the month, use that all the time. Like every third Tuesday of the month. (Some people do not like to withdraw on a Monday, in this case Tuesday works fine.)

Don't try to time the market. The sage old advice is time in the market.

*edit* Out for the night, going to try to watch a movie even as I'm struggling ... Always keep a smile on your face no matter how much you don't have.

I consider cashing out to be based on somewhat differing principles, as compared with the DCA that is employed for buying and accumulating BTC.

One of the strong rationales that DCA is such a sound procedure for investing long term into any asset, including BTC, is because it can redirect people away from second guessing and just investing.. to create a budget for themselves and then just to take from that budget to buy their asset, in this case BTC, rather than so many fucking people don't act at all, and DCA creates a tool enabling better abilities to direct attention and therefore to act rather than never having enough money because of x, y or z excuses.

The same obstacles are usually NOT present once a person has reached investment goals and has actually followed DCA principles for years and years and years, presumably.   Therefore, it is not necessarily profitable or even necessary to employ the same DCA principles for when the time or circumstances come for the investor to begin to cash out.. which can be a variety of circumstances that also might vary based on reason for getting out or how much profit has been made, including that it could be better to just get the fuck out, all at once. 

Surely if such reasons are because of old age, or if the desire is to diversify into a different asset, then those could be different motives, or to buy a plot of land in Oregon.

Accordingly, depending on the goal, then the cashing out method should be tailored towards best meeting the goal.   

A kind of DCA withdraw could be used in the event that a person is retiring and merely wanting to use the investment as a kind of passive income, yet I think that such structuring would NOT be so common and could be too rigid, even though it sounds good in theory, such method might NOT be practical if there is a target purchase.  Of course, I am not going to argue about a certain amount of incrementalism, but it seems to me that cashing out is way less of a problem than figuring out ways to get in, which is a principle reason for DCA upon getting a stake into an asset, such as bitcoin.

I think that a raking of profits based on price moves makes more sense, but surely, if you have a timeline to withdraw it all  then staggering the sells might work in those kinds of circumstances, and even a combination of approaches might be practical to tailor such sells and maybe even to attempt to make them somewhat more profitable, when possible by creating flexible selling price goals..

[JayJuanGee]

Are you long or short? What % of capital? What are your take profit and stop loss levels?

I'm long.

If you count the btc/fiat/stocks ratio I'm 99% btc, and have been so since 2016. If you take properties/land into the equation I'm still 80% btc.

I'm debt-free. I have my own house and my own land.

I sell a small portion every month to cover my bills and everyday expenses. The rest stays in btc -- always.

I quit my corporate job in 2016. Because fuck them.

For me there is no take profit level. When the time comes, I won't need fiat.

don't need disclosed personal balance or etc sure you can share personal experience trade type or your memorials history maybe when start so inspired others people.

What's up Negotiation,

I'm not sure what you are asking about, but I will do my best.

I first heard of bitcoin in 2011. I liked the idea and the concept, but I found no easy way to invest so I kind of forgot about the whole thing.

The next year, 2012, bitcoin got a bit of attention in the mainstream media thanks to Silk Road. That raised my attention again and I started to investigate more about it.

At first I found a local market that sold bitcoin. I sent about 500 usd worth of money to this site and made a market buy. However, this site was so illiquid that my market buy moved the market 40%.

After this I started to investigate further about bitcoin and found out about MtGox, the by far biggest market at that time.

I sent a few thousand bucks to MtGox and bought bitcoins for it. At this point I was holding close to 500 btc.

Shortly after this bitcoin began its rapid rise from $10 to $266. I have mentioned this earlier in my posts, but during that bubble I sold 100 btc worth for some physical gold and silver. I dumped another 100 In the Silk Road crash. I also lost/sold a bunch more.

Without going into much details, I've made so many stupid trades.

The first bubble you experience is always the worst.

I have learn from my mistakes. After my first bubble I've been holding like a champ. I did lose a substantional amount in the MtGox debacle though. After that I also learned that - not your keys, not your bitcoins.

In short, hodl.

Did you always hold some BTC and then have to reshuffle around after the MTGOX situation?

Of course in 2013, and thereafter, there became quite a few other ways to acquire BTC, but surely it can be frustrating to lose some BTC too, and I suppose the longer that any of us is in BTC the more likely we would have had made some various mistakes based on keeping on exchanges or other mistakes.

Surely, you have quite a few more balls than me to send money to Japan, and I have my doubts about whether I would have done that, even if I had heard about it in 2011 or 2012.

I have some real fucking difficulties remembering my thinking about bitcoin.  I know that in the period of about August 2013 to November 2013, I was researching into various investments, and I had bitcoin bookmarked in one of my tabs, to get to those tabs later.  I don't recall exactly what my feelings were.  I had heard the name and it was something that I bookmarked to look at later.  I recall that between about August and November, I had made several new investments into various index funds.. just traditional and safe investments, and I was kind of experimenting with adding those new index funds to my portfolio, and then in about mid-November 2013, an acquaintance on the interwebs, mentioned how he had been making so much money on BTC.  He said that he had been buying BTC in order to buy drugs on silk road, and he did not spend them right away, so they just appreciated like fuck, and he really did not  know what he was doing with his investment into BTC, but it had caused him to acquire a decent amount of wealth, and that story caused me to read the stupid ass bookmarked tabs that I had pending for a couple of months.  Weird.. and another weird was when I read the tabs I was like holy fuck, and it did not  take me very long to create a buying strategy, because I was already shopping for something and bitcoin seemed to be a great hedge against my then other traditional investments.

[JayJuanGee]

I did not say the protocol could not be changed. I am pointing out Krubster's rather daft implication that the Satoshi-CSW question has anything whatsoever to do with the fact that SegWit is the alteration.

Sir,

I have always respected you. Not for your believes, but for being a gentleman and keeping a civilized tone despite all the (unfair?) bashing you receive.

jbreher deserves every fucking bit of bashing that he receives, and maybe even more bashing than he gets.

You're very intelligent, I give you that. I do however don't agree with you. For me, segwit is bitcoin, anything else is an altcoin.

Whatever.  If jbreher uses his intelligence to deceive people or to to get caught in stupid-ass technical arguments, then that should take away from any point that he might be making.  I would think.

Just because segwit wasn't mentioned in the whitepaper some 10 years ago, doesn't mean it can't be bitcoin.

Things evole. Technology improve. Just as bitcoin has improved. Segwit is a part of that improvement.

Of course, segwit is a part of bitcoin. It was fucking passed by overwhelming consensus in August 2017 and thereafter locked in.  Of course, it is an improvement, too.  NO need to argue.   This ship of this argument sailed a long time ago...

[JayJuanGee]

You are here, so you are very lucky (as are we).

You just need to shift your mindset to a minimum of five years.

I am in that kind of mindset already but my strategy is to cashout 5% from the total profits for every quarter,seems like a weird strategy?

But until now I am doing good and also will invest more when have the money.

You’d be stupid to sell anything at all until 6-12 months after the halving which is still 8-9 months away.

https://www.bitcoinblockhalf.com/

Maybe you think that is stupidity but I call it as don't be too greedy.

Anyway I got your point might be need some strategical time regarding the halving period.

I generally agree with LFC, but I do wonder about the range of 6-12 months after the halvening.

A person would be less stupid if at least waiting until 6 months after the halvening, but even less than that if waiting until 12 months after the halvening?

I am thinking that LFC is saying that the larger of the exponential price periods of bitcoin's growth is likely to come somewhat after the halvening, because there tends to be a bit of a denial of the actual effect of the shrinking of the supply of the new bitcoins coming out of the printing presses of the miners.  Anyhow, that peak is not exactly known, but we are going to have better chances of experiencing such peak within the 6-12 month window period than anytime before that.

Even though I agree quite a bit with LFC's hypothesis, I do have some trouble with attempting to bank too much on any such  fractal comparisons, which is largely an attempt to compare what had happened in the last two post halvening exponential growth periods and to extrapolate what is likely to happen in this post halvening period.  Even though I believe that there is a quite a bit of actual physical and material pressures on BTC.. which is upwards pressures on price due to actual restriction of BTC supply, I still have some difficulties putting too many of my eggs in such a basket, so in that regard, I do get some sense that if there is kind of outrageous exponential price rise that comes before that 6-12 month post-halvening period, then that outrageous exponential price rise could (but not necessarily will) take away some of the fuel on the actual restriction of the supply period, because in that case, if BTC's price rise had been front run in such an outrageous way, then there would not likely be enough steam to fuel another exponential price rise that happens in the 6-12 month post-halvening period that comes from actual fundamentals regarding the actual lessening of the new BTC supply.

It likely more than 18 months ahead to make the highest reap compared to the current price but even after that prices going to dances and the cycle reaps that is why I am not very much confused about taking very small profits in short term interval.Which help me to collect the some of capital amount which I invested in few years so the remaining only will be the capital gains.

Well, you gotta do whatever seems to work best for you. One of the things that concerns me, sometimes, is if guys sell too much too soon because they expect the price to go down, and if the price does not go down, then they are stuck with a bunch of fiat that really is not going to do them any good.  So, as long as you are prepared for up and you have enough BTC, even if the BTC prices overshoot your expectations to the upside, you still have enough that you are able to sell a little bit at the higher prices to take some profits at those prices rather than these prices, which could be 10x or even 30x higher than currently.

[JayJuanGee]

.. however, part of the problem is then attempting to figure out where I would like to put such extra cashing out value... There will be a bit of a dilemma for me, that it would be better for me to attempt to resolve ahead of time, rather than trying to figure out that channeling of funds issue during another exponential BTC price rise, if that were to come again.    

Help others ... give them both the advice of your more than 30 years experience as well as a little start ... your prodigy just might be the next Warren Buffet.

I attempt to exercise reasonable discretion in sharing to do what I can and/or what I feel like doing, but not necessarily what others might want me to do.  

The balance is not always fair or even agreeable from the perspective of some others.

In other words, I have been called a lot of names over the years.

[edited out]

But that is exactly what JJG does. Be could blooded, not frozen, not boiling and thread lightely so no bull or whale or bear hears your steps... .  Some dislike JJG long discours, but mostly he is saying interesting things. And just as everyone of us he also sometimes has a grumpy day... . 

hahahahahaha

Ditto.

What Ludwig Von said.   

[JayJuanGee]

Interesting...and somewhat bewildering.
A ghost in WO machine?

I suspected something mysterious was up with you, Biodom, or do you have a preferred spiritual name?

[HairyMaclairy]

How could evidence of personal identity have anything whatsoever to do with evidence of protocol change?

I'm not sure if you're trolling or trying to be serious.

Back at ya.

See any evidence of SegWit in the white paper? No?

Explicitly in front of your face. Willful dereliction of truthiness.

SegWit was indeed an alteration of the Bitcoin protocol. Undeniably. There is really no way to argue otherwise.

I am pretty confident the white paper doesn’t say anything about Turing completeness, legally enforceable smart contracts, token protocols,  large data storage capability and all the other shit in Bitcoin SV marketing

Yet interestingly, all fully supported in the 0.1 version of the Bitcoin protocol. You know, before the Cripple Rangers took control of the codebase. SegWit, on the other hand...

Funny, eh?

So what's the point you are trying to make?

My mistake.  I couldn't see any evidence of them in the white paper.  Thank you for clarifying that it doesn't matter whether something is mentioned in the whitepaper.

[JayJuanGee]

Btc/Usd

For the short term i'm watching the yellow EMA line, which currently acts as a support on the 4h chart. The 4h candle closed above it. Currently the yellow line is around 10.270 Usd. If it stays above it will be bullish. If not we will find other support.

You sound undeniably correct.

BTC's price is going to go down until it stops going down, and if it does not stop going down where it should stop, then BTC's price is going to go down more.

I have learned a lot about bitcoin and about myself from such observations.      The chart helps to make that point, too.. Comes off as more professional.  

I don't know about you but i buy on the support bounce. So i bought some back. If it reaches my target between 10.800 and 11.000 i sold 3 times already there. Yes it goes up and down but i tell where is the support (buy) and where resistance (sell). If it goes bellow support it means sell. (well i trade only 20% of my holdings, i never sell all.) Trader has to be prepared for both ways.

I don't really classify myself as a trader, even though in about late 2015, I began to sell small amounts of BTC on the way up in order to help to prepare for any further price drops, if they were to occur, and to take advantage of seemingly inevitable BTC price volatility. Between late 2013 and late 2015, I had considered myself as ONLY a BTC accumulator, so during that whole time, I had a budget and various targets to buy BTC in a kind of aggressive way to reach my targets, which largely took me about a year to get to decent comfort levels in terms of reaching my targets, but I still continued to dollar cost average buy BTC in 2015 and if I ever spent any BTC during that period I would replace such sold BTC within a day or two.

I think that I had considered buying BTC when the price goes down and selling BTC when the price goes up to be a decently sound approach; however, I figured that I had needed to get to a high enough level of BTC accumulation before I felt comfortable enough structuring and starting any kind of selling plan... furthermore, BTC prices did not go up very much during that whole period of 2014 and 2015 while I was engaged in mostly accumulating, in order that I would feel comfortable at shaving off some profits if the price were to go up.. I also had not really structured what my sell plan would be because I thought that I needed to get my whole BTC portfolio into profits before I could start to sell any; however, I also tweaked my thinking regarding that and also came up with some selling plans.  

In essence, I tweaked and theorized my plans for how to sell in mid-2015.  I figured out what amounts that I was authorizing myself to sell and to increase such authorizations in the event that the BTC price went above my overall BTC costs, and then began to employ my plan and to tweak it ever since I started to employ it in late 2015.  I largely consider the carrying out of my plan to NOT require too much thinking, so in essence, I was and have been like a glorified bot, who sells in the area of 1% for every 10% that the BTC price goes up and then uses those proceeds to buy back or to structure my buy backs.  Sometimes, I will tweak my system a bit here and there because I will buy in intervals and incrementally that do not fall on any precise lines, but I consider that part of my goal has been to widen and widen my order intervals (both selling and buy back and the spread between the buy and sell in order to make it harder and harder to trigger my orders) in order to NOT have my orders triggered on smaller price movements and therefore I don't have to be setting my buy and sell orders as frequently.   When I started the plan the orders were set pretty damned tight, so they were being triggered all of the damned time.

Actually in the price run up to $19,666, I had sold quite a bit of BTC all the way up, and I believe that my fiat to BTC ratio had not gotten much if at all above 12% fiat to 88% BTC, and also I recall that I was already buying back BTC in the supra $19k area.. I recall that on some exchanges my BTC sell orders had gotten to a bit above $20k, so the proceeds from those sales were used to buy back BTC in the supra $19k range.  

Probably this time around, if we were to have a double top at $20k-ish, which would be highly unlikely in my thinking, I surely would not expect my BTC buy back intervals to be as tight as they were the first time around, yet I do not have the specific increments set or planned out too much beyond merely having some of the broader dynamics of my expected holdings to be outlined.  

Furthermore, there is a similar dynamic in my theoretical outline of a plan all the way up, including if the BTC price goes past $100k. My spreads get BIGGER and BIGGER, but I still do not plan to sell much beyond 1% for every 10% price rise, if we end up going there.  But, some of the devil of the details is to see the extent to which the theory will play out in practice, which was part of my learning from my experiences in the last price run up to $19,666... because in the last run up to $19,666, I purposefully changed what I thought was going to be my initial plan, which was I ended up selling less BTC than I had initially planned, and I did that on purpose.  In essence, I ended up just sticking with my system of selling 1% for every 10% rise, and I considered that to generate plenty of cash, rather than selling larger amounts of my BTC which had been part of my earlier renditions of projections.

This time, around, I don't really care, and I am fine with just continuing to follow my system that only sells small amounts on the way up and also buys back on the way down in intervals that are reasonable for me, and the tweaking this time around is to spread the intervals even more than they had been the first time around, but otherwise I am largely keeping with my system because I like it..

So, yeah a week or two ago, in our run up to a bit above $11k, I made several sales on the way up, and bought back at various points between about $10k and $9,400, and in this last run up to nearly $11k, I had a few BTC sell orders trigger, so the more that triggered, the higher my buy back points are.  I have sell orders on different exchanges so some of them triggered and some of them did not, but so far in this particular most recent correction, from today, NONE of my BTC buy back orders have triggered yet, and most of them are set for a little bit below $10k.  

In my earlier days, I would have had both my BTC buy orders and my BTC sell orders more tightly structured; however, these days I am more happy with larger intervals and my goal and recent practice has been to increase and increase and increase the integers in which such orders are triggered.

Another way of conceptualizing my strategy towards my BTC holdings has been to attempt to create my BTC buy/sell orders in such a way that I am largely NOT too much attached to price direction.. neither psychologically nor financially.  

Of course, I profit more from upwards BTC price movements, but it is also in my thinking that inevitably in the longer term BTC's price is much more likely to go up than it is to go down, but in the meantime, I am profiting from volatility in such a way that it causes me to become less and less concerned about BTC's price going down.  

Also, I have a plan that is projected into the future of starting to liquidate 1% of the value of my BTC stash per quarter, so long as the BTC price is not below $5k, and I am thinking that I will start to employ that particular plan in a few years, and I think that there are real decent chances that the BTC price is not going to go below $5k in the coming years or to interfere with my tentative liquidation plan, and if BTC's price does go below $5k, then I will just plan to hold off on cashing out my 1% during any such quarters that the BTC price does go below $5k, if such periods of low BTC price performance were to come, once I start my liquidation plan.

I think I'll need a TLDR here JJG.

Is it thursday yet?

O.k.  I am here to serve peeps like you, Hueristic, even though you have an irresistible tendency to be a bit of a smart ass.  

TLDR:  Set a target BTC accumulation level, then perhaps buy a bit more than your BTC allocated amount in order that you don't become too emotionally attached about selling a bit on the way up.  

Sell at higher prices than you bought, and preferably at a price that brings you adequate pleasure.  

Buy more BTC if the price drops, and never run out of fiat if the price drops nor bitcoin if the price goes up.  

Life is too short, so enjoy the hookers, lambos and blows along the way.  

[VB1001]

Miniscript: Streamlined Bitcoin Scripting

By Pieter Wuille & Andrew Poelstra

Bitcoin has always had a mechanism for making coins spendable by more complex policies than just a single key: the Script system. While Script is primarily used for single-key payments, it is also the basis for a variety of multisig wallets, atomic swap constructions, and the Lightning network.
That’s not all it can do, however. Script can be used to represent complex conditions required to release a transaction — e.g. (two of A, B, C) and (D or (E and F)), where A-F each represent a unique key — as well as hash preimage checks, timelocks, and a few more exotic constructions.

https://medium.com/blockstream/miniscript-bitcoin-scripting-3aeff3853620

Good morning WO,s

[JayJuanGee]

.. however, part of the problem is then attempting to figure out where I would like to put such extra cashing out value... There will be a bit of a dilemma for me, that it would be better for me to attempt to resolve ahead of time, rather than trying to figure out that channeling of funds issue during another exponential BTC price rise, if that were to come again.    

Help others ... give them both the advice of your more than 30 years experience as well as a little start ... your prodigy just might be the next Warren Buffet.

But that is exactly what JJG does. Be could blooded, not frozen, not boiling and thread lightely so no bull or whale or bear hears your steps... .   Some dislike JJG long discours, but mostly he is saying interesting things. And just as everyone of us he also sometimes has a grumpy day... .  

I meant something more substantial than just ... more than words ... There are people out there who are less fortunate than others, who don't have a roof over their heads, who don't know where to get their next meal, but could, one day pay it forward if only given the chance.

The younger generations are always the future.

He does say the right things particularly about traditional investing because those things do have 30 to 50 year histories. The stock market as we know it has been around for at least a hundred years, and before that ownership of corporations or large entities have existed for hundreds of years before that.

Trades were made on paper, on the "trade floor" ... eventually running on sophisticated software on mainframes and computers.

In all that time, or at least the most recent 50 years, the stock market of the entire world has been going up relentlessly, because all corporations exist to make profits, and those that remain on the major indexes, like the DOW JONES or the S&P500 ... they are "self-cleaning" ... Amazon and Microsoft were not in any of them 20 years ago. Today they are.

Just like, bitcoin did not exist 10 years ago. Now it's 200 billion total market capitalization with an absent founder, who hasn't touched any of the mined coins, coins mined because no one else would at the time, and that continues to evolve. It has a life of it's own, aided by the tens of thousands of full nodes and hundreds of countries around the world, and the millions of miners and 100 exahashes of computations per second, with a conglomerate of non-related and often competitive exchanges that provide the most liquid asset class across international borders, that now even world leaders pay attention this whole bitcoin thing.

Nothing else comes close.

The institutions are coming.
The bulls are coming.

Some of us won't be able to ride the wave (I am thinking I am one of them) because they've got nothing else and lost it all or are even negative.

Bitcoin is going to provide a lot of opportunities that were not available through traditional investing over the last 100 years like you mentioned because those investments were largely unavailable to regular peeps in terms of being able to invest in small quantities and not needing permission.

Therefore, anyone can get into bitcoin, and likely be able to profit from bitcoin, whether that is directly through their personal investments into bitcoin or indirectly because of the more responsible sound money incentives that bitcoin creates and likely will inspire traditional institutions and existing governments to be more responsible with their monetary policies.  

Of course, if you personally know about bitcoin, then you are in a much better place to be able to profit directly from where bitcoin is and where bitcoin is likely to go and currently, based on such knowledge should be inspired to attempt to get your financial matters in order to the best of your abilities, even if you can only afford $5 per week or some other modest investment amount.  

Thereafter, the more that any of us strives towards getting our financial houses in order by either saving more or spending less (or maybe even attempting to earn more or to pay off our debts), then the more we will be able to invest into bitcoin and to directly profit from seemingly likely upcoming BTC price appreciations that are likely to continue for the next 50 years or more and if matters play out more or less in a sound money direction.

From my own perspective, it seems that it still is not too late for peeps who know about bitcoin to work towards accumulating and holding whatever BTC that s/he can get his/her hands on without getting distracted by shitcoins, scams or other forms of desperation, gambling or over-leveraging to attempt to find a balanced financial and psychological approach to the bitcoin situation that we currently have in front of us.

[edited out]

Is this your best JJG?

Your observation seems quite correct, Hueristic.  My words remain materially inadequate and insufficient in the eyes of Dabs.   

[HairyMaclairy]

If you drop a small steel nut onto a polished concrete floor from a height of 8 feet how far can it go?