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

[Biodom]

I know we touched on the new US tax question recently but I hadn't considered this point of view which I tend to agree.

Opinion: The IRS will cause significantly more adoption of bitcoin.

Going forward, all taxpayers will be required to answer the question below:

This question will force all taxpayers to contemplate the existence of cryptocurrency as an asset class.

This also forces accountants, attorneys, and financial advisors to educate themselves on the subject in order to represent and advise their clients.
The question will inevitably nudge some of the tens of millions who are exposed to it, and who are curious,  to explore this new asset class.

Once curiosity sets in, it is guaranteed that Bitcoin’s gravity will draw many of these newcomers down its rabbit hole.
This amounts to a guerrilla marketing  campaign by the IRS, and it can only lead to increased interest in and adoption of bitcoin, IMO.

I do not believe this is the intent of the question by any means, but I cannot see how the increased awareness will be a net negative.

https://twitter.com/sixpointonefive/status/1218348953197899776?s=20

gamers would be like...."Dude, are gps virtual currency or not?".

so much for the ZEC pump

Still 100% up from Dec 31, js
Crazy stuff.

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[nutildah]

You are a scammer

Being a scammer requires a victim. Who have I scammed, somac.? Name the aggrieved party or STFU.

The correct term is would-be scammer. 

No but in all seriousness, there was a decent analogy given in one of the many BSV ANN threads about how attempting to recreate Bitcoin 0.1 is like attempting to recreate an early Ford automobile.

imagine Henry Ford, coming back from the grave telling Ford company that cars don't need AC/heater because that is not part of the original design..what cars need are bigger windows, actually might as well remove the windshield to let more air in LOL

Craig is claiming his car is a Ford Model T when in actuality under the hood its closer to a Toyota Corolla. If he wanted to recreate the Model T, he would have just cloned the Model T instead of including all the modernizations introduced in generations (builds) afterward.

To complete the analogy, modern Bitcoin (0.19) is more like a Ford Fusion sedan. It makes use of the latest innovations in the industry to deliver an advanced version of the original product, one that couldn't have been fathomable during Henry Ford's time.

If you want to be religious about it and say the Model T is the only true car, well have fun, but don't expect other people to follow.

In short, adhering to BSV because one believes it more closely follows Satoshi's original protocol is much like a religion -- based on belief, and not much more. Its a religion every bit as much as Bitcoin (BTC) Maximalism is a religion.

Personally I find Prophet Craig to be a false prophet as his teachings are unpalatable -- pretty much devoid of any sort of morals or ethics. However, if someone else wants to accept him as a True Prophet, well, not much I can do about that.

[Searing]

I know we touched on the new US tax question recently but I hadn't considered this point of view which I tend to agree.

Opinion: The IRS will cause significantly more adoption of bitcoin.

Going forward, all taxpayers will be required to answer the question below:

This question will force all taxpayers to contemplate the existence of cryptocurrency as an asset class.

This also forces accountants, attorneys, and financial advisors to educate themselves on the subject in order to represent and advise their clients.
The question will inevitably nudge some of the tens of millions who are exposed to it, and who are curious,  to explore this new asset class.

Once curiosity sets in, it is guaranteed that Bitcoin’s gravity will draw many of these newcomers down its rabbit hole.
This amounts to a guerrilla marketing  campaign by the IRS, and it can only lead to increased interest in and adoption of bitcoin, IMO.

I do not believe this is the intent of the question by any means, but I cannot see how the increased awareness will be a net negative.

https://twitter.com/sixpointonefive/status/1218348953197899776?s=20

Or it will be a handy way for the US Government to do a 'blanket' or spot check even audit on those who check the box. I mean they did send letters to EVERYONE
more or less who was on Coinbase that moved I think it was more than 200 transactions. Not saying it is likely, just saying, the IRS did not like being forced
by congress to step up and enforce Bitcoin and Crypto with all the negative publicity. This would be an easy and handy way to slap back at those who, IMHO,
embarrassed the IRS into more enforcement with even more funding cuts.

Unlikely, but it gave me a good 'shudder' anyway (been legal since I started in 2013..but would be a real mess to explain crypto to a newbie IRS auditor of
what the hell mining was in 2014 and why I lost money on this or that)

[JayJuanGee]

who fucking cares if what happens to be said about some other topic, such as a shitcoin bsv rises to the level of lies.. It does not matter.  

So you openly admit to lies, and you pile on by stating that lying does not matter. Great. Paragon of virtue, our JJG.

I am NOT admitting anything.  I am saying that your assertion that lies are being made here does not give you a free pass to troll and shill your stupid-ass off-topic support for that shitcoin BSV or any other shitcoin or other off-topical matter that you proclaim to be correcting purported lies. 

[bitserve]

Confirmed: Craig Wright doesn’t have keys to $8 billion of Bitcoin
Craig Wright’s lawyer says he didn’t receive the private keys to $8 billion worth of Bitcoin and provides an update on the Dave Kleiman court case.

https://decrypt.co/16998/confirmed-craig-wright-doesnt-have-keys-to-8-billion-of-bitcoin

tl;dr: Craig is royally fucked in about 90 days.

But his lawyer said today that that was not the case.

“The file that he’s received did not include private keys,” Andres Rivero, partner at Rivero Mestre law firm, told Decrypt. However, Wright still expects that he will receive the keys at a later date. Rivero said the keys may come either whole or split into parts, but declined to discuss further the particulars around who has the keys and when they might arrive.

No way! This is a shock! BSVers are jumping off the bridges, markets are going crazy and no one knows how to react to this...oh wait, nope, no one with one brain cell and even jbreher expected Faketoshi to have the keys!

Show me where I ever made that claim.

Fuckin' liar you are, DaRude. Which puts you squarely in the class that you accuse CSW being a member of.

That you shilling BSV because it follows truest implementation of satoshi's code? Or that you claim that it doesn't matter if CSW is Satoshi? Cause it's in like your every other post

The following, you slimy bastahd: "even jbreher expected Faketoshi to have the keys!"

Sorry to interrupt. But I think he meant that NOT "even jbreher expected Faketoshi to have the keys". The sentence is a bit confusing though ("and" should have been a "nor").

[somac.]

You are a scammer

Being a scammer requires a victim. Who have I scammed, somac.? Name the aggrieved party or STFU.

Anybody you convince to invest in your scam coin by pretending that it is the real Bitcoin when it isn't. It must be nice for your sociopathic tendencies that you can sit behind a screen and pretend that your ramblings and lies aren't manipulating any "victims" just because the anonymity of this forum hides the noobs "victims" from you.

Anoyminity is great for a lack of empathy isn't it. I bet you feel real fantastic about yourself.

[VB1001]

I don't think jbreher is stupid or scammer at all, rather the opposite, I think he has an important stash of BTC along with all the shitty coins of the forks and is making his way with the three heavily loaded backpacks just in case it breaks loose A conflict will keep all valid options available until the last moment, this has its risk, but if it works well ... you will earn a lot of money.

I don't think jbreher is against the badger.

JJG knows it and is a teacher who puts his finger where it hurts most.

[VB1001]

Why are we paying so much attention to a clearly peripheral issue?
Everybody knows that @jbreher likes BSV. So what? He does not force anyone to buy it, just states his opinion (infrequently).
I think that he is mistaken, but it is just an opinion.
Some guys like pussy and some like something else, #nohomo.

All this lambasting a fellow WO member is for naught and kind of sad to see.
Reminds me of a conflict between bolsheviks and mensheviks or going even more "satirical/historical", Lilliputians and Blefuscudians.

All Lilliputians should break their eggs on the small end first.

Jbreher likes to talk about big blocks and small blocks, that's all.

[bitebits]

I was staring at my DCA chart as I always do everyday , I realized, since 2016, I doubled my BTC amount every year. 

I can only double one more time that's if I go all in. 

Don't get caught up on unrealistic pie in the sky goals.

Consider your prudence, and you don't need to double each year in order to be employing the correct tactics. 

In other words, if you start to prioritize meaningless goal posts, you will end up screwing up a system that you have built and figured out to work.

In other words, tweaks to your system should be based on incremental changes rather than throwing darts at walls when you might not be as good of a shooter as you believe yourself to be, then you end up getting fucked up the ass because you accidentally (or should we say recklessly?) poked ur lil selfie in the eye ball.   

I probably bought my last fucking dip a week ago.

From now on unless there happens to be a huge ass percentage drop, I'll just keep throwing potatoes (DCA'ing) till it hits my target price.

There is never a straight up, so maybe if you are employing "buy on dip," you are not getting as much BTC, but you still cannot really count on losing dip buying opportunities.

Yeah, I understand that many of us here in WO thread have a kind of bullish, never to return to low prices theory, yet historically, it seems that those kinds of opportunities do still tend to come...

Maybe we could analogize from 2016, and yeah after a certain point, it became really difficult to obtain sub $500 coins.. and surely similar dynamics might exist in 2020.. trying to get sub $10k coins... I understand the dilemma and the urge to front load, and I have no problem with the employment of some front loading based on those kinds of ideas.  I did it myself.  I front loaded a bit in the three digits, but I was still always worried about front loading too much and getting caught in some kind of pickle...

Yeah, of course, I left some money on the table in 2015 and 2016, but I don't have any regrets because I really feel that I had front loaded as much as I had felt comfortable at that time, and I cannot go around kicking myself and say that I should have bought more - because buying more was just NOT prudent when I had already sufficiently thought about the situation and sufficiently frontloaded my BTC investment.  There is only so much that you can do and there is only so much money that you can reasonably get a hold of without putting yourself too much at jeopardy if matters were to go sour.. and my lack of regret even goes to the fact that I could have pulled some money out of my 401k.... it was my money.. but I chose not to do it, and the 401k money performed way worse than BTC.. but I don't care because I had already considered both the UPs and DOWNs and I made my then choices about what was then prudent..  No regrets, here.

front loading is so 2014-2015ish.
It's difficult to imagine a serious frontloading at almost 9K (vs 200-500 back then).
It is closed to most, but the fiat 1% now, soon to be 0.1%.
That said, i believe that the next 5-6 mo is the last frontloading opportinity of the next few years.

Of course, if we have been in BTC for a decently long time, we are already done with our frontloading, because we largely already established our positions.

However, there are other kinds of people out there.  For example:

1) if you are you just learning about bitcoin, you might want to front load

2) if you have never really been able to reach your investment goals in terms of quantity invested into bitcoin and cash flow limitations, you might want to front load

I understand that each person has to consider his/her own situation, so it might be quite difficult to front load or even to feel that you have sufficiently front loaded because each person has to be able to food and shelter himself/herself and also prepare for emergencies that might come up.

I also understand that it is more difficult to feel that you are able to front load if you are chasing the price up, and maybe that is part of the reason to frontload, yet the main risk of front loading does not seem to be so much from chasing the price on the way up, but instead NOT having any money to buy on dips because you frontloaded and then the price goes flying down and you don't have jack shit dry powder to be able to buy and maybe even start to feel that you want to sell some BTC in order to buy lower, and that is where those people can get fucked if they frontloaded too much and the price goes down instead of up.

I guess, in sum, I think that there are always opportunities to frontload and there are always opportunities to DCA... and none of us really know, exactly where BTC prices are going, but still seems that if we are just getting in, then we should try to strive for a 4-6 year investment window, and even if we have been in bitcoin for a while, we should still be considering a 4-6 year investment window with any new BTC that we buy... so we should really not be cashing out BTC that is younger than 4-6 years in our holdings... even though we have the right and the discretion to do whatever we like with our investments, I am still trying to refer to best practices in terms of long term investing into BTC that will likely give the best bang for the buck.. even though each person has to decide for himself/herself.

Interesting discussion guys. I think indeed it takes discipline sticking to your strategy and don't frontload, even when bitcoin has a seemingly continuing upward momentum from its $3k bottom. Somehow over the years I lost being sensible when it comes to Bitcoin, while I am generally cautious buying individual stocks (VTI FTW). I admire being stubborn and sticking to the strategy.

Feeling regret in retrospective to not have frontloaded makes little sense: you have a strategy and need to stick to it, perhaps it helps in case you imagine for a moment the bitcoin price went into the other direction? Especially having little 'dry powder' while bitcoin, seemingly inevitably, comes down back to earth is terrible. Bitcoin is on fire sale and you can't buy any.

It might have turned out very well for some, but that does not prove frontloading / going all in is a wise decision.


(and thanks JJG for the honest previous response)

[VB1001]

https://twitter.com/lopp/status/1218244638710140929

I have never liked anything related to anime, I will be old for this.

[DaRude]

Confirmed: Craig Wright doesn’t have keys to $8 billion of Bitcoin
Craig Wright’s lawyer says he didn’t receive the private keys to $8 billion worth of Bitcoin and provides an update on the Dave Kleiman court case.

https://decrypt.co/16998/confirmed-craig-wright-doesnt-have-keys-to-8-billion-of-bitcoin

tl;dr: Craig is royally fucked in about 90 days.

But his lawyer said today that that was not the case.

“The file that he’s received did not include private keys,” Andres Rivero, partner at Rivero Mestre law firm, told Decrypt. However, Wright still expects that he will receive the keys at a later date. Rivero said the keys may come either whole or split into parts, but declined to discuss further the particulars around who has the keys and when they might arrive.

No way! This is a shock! BSVers are jumping off the bridges, markets are going crazy and no one knows how to react to this...oh wait, nope, no one with one brain cell and or even jbreher expected Faketoshi to have the keys!

jbreher logic:
1-Satoshi was a genius who created perfect code, thus we must follow truest implementation of satoshi code!
2-It doesn't matter whether Satoshi is an idiot who can't code, a serial liar and a perjurer who looses every trail he starts
3-

Show me where I ever made that claim.

Fuckin' liar you are, DaRude. Which puts you squarely in the class that you accuse CSW being a member of.

That you shilling BSV because it follows truest implementation of satoshi's code? Or that you claim that it doesn't matter if CSW is Satoshi? Cause it's in like your every other post

The following, you slimy bastahd: "even jbreher expected Faketoshi to have the keys!"

Was supposed to read as nobody with a brain cell (and jbreher) expected Faketoshi to have the keys. I can see how the wording can be confusing. My second bullet further makes the point by saying that you believe it's irrelevant if faketoshi is Satoshi (but BSvers for some reason still need to follow his truest implementation) 

[kurious]

Why are we paying so much attention to a clearly peripheral issue?
Everybody knows that @jbreher likes BSV. So what? He does not force anyone to buy it, just states his opinion (infrequently).
I think that he is mistaken, but it is just an opinion.
Some guys like pussy and some like something else, #nohomo.

All this lambasting a fellow WO member is for naught and kind of sad to see.
Reminds me of a conflict between bolsheviks and mensheviks or going even more "satirical/historical", Lilliputians and Blefuscudians.

All Lilliputians should break their eggs on the small end first.

Well put.  I don't have personal issues with jbreher and he patently is not stupid.

That said I do feel the two main forks are run by a rum bunch and I personally find CSW an utterly sleazy human being, who is in my eyes a proven liar.  But that doesn't make our fellow WO member a liar - and he has the right to be mistaken, as does anyone.  Jeez, I have my bag of alts, one I am very attached to (as I suspect do many here).  I don't tend to shill it, I will however defend it.

Each to their own.

 

[FullNode]

"Elon Musk’s Flagship Tesla Can Power a Full Bitcoin (BTC) Node"

An electric-powered Tesla is showing off its latest feat – operating as a Bitcoin node.

https://dailyhodl.com/2020/01/17/elon-musks-flagship-tesla-can-power-a-full-bitcoin-btc-node/amp/
 

[skysblu]

Apparently if bitcoin is to repeat the last pump to ath then it should reach around 400k. Besides, it seems like it's about time to start proper pumps up. We're in for a wild ride these two coming years.

[mindrust]

Jbear is a bored af boomer who has nothing better in his life other than trolling the fuck out of WO members.

He is an early adopter with so many bitcoins, he probably doesn't give a fck which one wins.

Jbear has already won  in every possibility. He is supporting BSV now because why not.

[El duderino_]

https://twitter.com/gojonewsnow/status/1218235541512228864?s=20

Like wtf.....

[El duderino_]

Confirmed: Craig Wright doesn’t have keys to $8 billion of Bitcoin
Craig Wright’s lawyer says he didn’t receive the private keys to $8 billion worth of Bitcoin and provides an update on the Dave Kleiman court case.

https://decrypt.co/16998/confirmed-craig-wright-doesnt-have-keys-to-8-billion-of-bitcoin

tl;dr: Craig is royally fucked in about 90 days.

BSV'ers are like CSW probably secretly has those keys and is again planning a master trick, they keep there HOPIUM intact 

[JSRAW]

https://twitter.com/gojonewsnow/status/1218235541512228864?s=20

Like wtf.....

[El duderino_]

BSV had a pump last few days, Jbreher told us "this is just the start" i'm just wondering the start of what ??

Can someone tell me please.... 

[skysblu]

Confirmed: Craig Wright doesn’t have keys to $8 billion of Bitcoin
Craig Wright’s lawyer says he didn’t receive the private keys to $8 billion worth of Bitcoin and provides an update on the Dave Kleiman court case.

https://decrypt.co/16998/confirmed-craig-wright-doesnt-have-keys-to-8-billion-of-bitcoin

tl;dr: Craig is royally fucked in about 90 days.

BSV'ers are like CSW probably secretly has those keys and is again planning a master trick, they keep there HOPIUM intact 

They think with something else than brain... BSV'ers: