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

[JayJuanGee]

Let's say you come up with $1million as nice round number. Again, this could as low as $500K in some countries and just for a very modest lifestyle up to $5 million for US, with many years to live, and with a nice lifestyle.

Daym you need $5m to live in the US?

Even becoming a hnwi is not enough? Fuuck.

Should have gone all in   (aimed for the head)

You can figure about $3,333 per month of passive income for every one $1 million in value (that is assuming a 4% per annum withdrawal rate), so personally, I believe that $2 million would be decently comfortable enough for a passive income of $6,666 per month.

Of course, individual standards, lifestyle choices and even past standards (which affect expectations) are going to vary, and more dollars can be better in terms of being able to enjoy more comfortable aspects of life and having more flexibility.....and even cushion.  I personally would NOT consider $1million to be a starting point, unless you were to believe that $1million were the likely bottom of a cycle.. so maybe right now, we could consider $3,000 per BTC would be the bottom of this cycle, so in that regard, we would need to have a minimum of 333.33BTC ($1million/$3,000) portfolio to sustain a $1million value and to be able to passively (and sustainably) cash out at $3,333 per month.

We could end up speculating wrong about the bottom of wherever we are, so lets say that someone wanting to retire speculates that $10k is going to be the bottom in the future, and s/he speculates that s/he needs $2.5 million sustainable to be comfortable pulling the retirement (fuck you) lever.  that is 250 coins, and yeah if we go up to $100k and the person diversifies out of bitcoin, then that is another story too, but it does seem good to be realistic in terms of thinking about the bottoms of markets rather than the tops, even though there could be some decent diversification practices that are employed at the tops in order to feel better prepared for the extremes of the potential bottoms.

[Mihaylovic]

BBC News - Bitcoin virtual currency reaches all-time high price
http://www.bbc.co.uk/news/technology-21601608



remember this?

It is already 2020 now.... and they have never stopped saying "virtual currency" or "digital currency". Dumbs...
When they learn to say "crypto currency", bitcoin price will be something that they can not even dream about  

[xhomerx10]

BBC News - Bitcoin virtual currency reaches all-time high price
http://www.bbc.co.uk/news/technology-21601608



remember this?

That was like 8 months before I started. On Oct 18th, 2013..sometime during the day, BTC was $150 when I looked.

I miss my Newbie BTC Youth! The thrill of being absolutely 'clueless' on wtf you were doing and still making out like a bandit!

KNC Jupiter Miner arrived 0ct 18th, 2013. I got it sopping wet full of water and parts floating inside. Dried it out. It was $5,131.80 USD.

Tried to turn it on, IT CAME WITH NO FRIGGING SWITCH, I was utterly befuddled.

Emailed them got a prompt reply to use a 'paper clip' and short out the PSU leads to the

computer cable for power to a computer motherboard.

Sat there 'stunned!'

I mean really, I paid the amount above for this beastie and it does not even have a 'frigging' switch!

 Closed my eyes, turned my head away for expected flash/explosion and of the certain 'bricking' of the device.

Worked fine, Ran like a top for a couple of years, till difficulty got to high on BTC vs electric. (considering BTC price now should have run it another 1/2 year!)

Best Miner I ever had par none for output and stability. Sometime during that day, I looked up the price of BTC it was $150 USD per BTC!

I think I made 1 BTC a day.

I 'long' for a return to those glory 'newbie' home mining days, but alas,they are gone forever.

Those were the days.
I had a pretty tidy return from this:

I bought 6 in all.


And then this:

 Man.  I waited nearly 7 months to get my BFL miners.  When I did, the taxes my government charged were more than the value of the Bitcoin I could mine with them even if I didn't include the cost of electricity.  To add insult to injury, my wife called me at work the first night I was running them to tell me of a strange smell coming from the room.  I told her to unplug them and in the morning when I got home, I saw that one of the power supplies had melted - those were SHIT (the power supplies)!  I connected some better PSUs and ran them for a while to heat my feet under my computer desk.
 I've always wished I had simply spent that money on coins rather than miners - it would have bought ~ 30 Bitcoins.  

[jupiter9]

I noticed that i'm very happy when i can help someone and they give me that smile and look in their  eyes. That's the most wonderful thing. It makes me happy too and that happines lasts. It can last very  long time unlike those instant happines when you buy a car...that doesn't last very long. Or when you have a sex it's a very short time of pleasure and you have to have sex again soon too get a satisfaction. And again and again. You  can't never have enough. The more you have sex the more you want it. My bigest desire is to have no desire. Because you don't need anything to be happy.

That's some serious bullshit all cramped up in one paragraph mate!
You seem to know quite a bit about sex for a virgin. That would be a jerk-off virgin as well?

How about tantric sex? You can extend your happiness forever - or at least Stifler's mom thinks so.

An old soul has experienced sex billions of times in the past lifes! Experience is the only thing we can bring with us.

[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. 

Again with the dissembling admission.

It reflects poorly upon you, JJG.

Must be a compliment coming from you.  thanks jbreher, you affectionate beast.   



#nohomo

[P_Shep]

 Man.  I waited nearly 7 months to get my BFL miners.  When I did, the taxes my government charged were more than the value of the Bitcoin I could mine with them even if I didn't include the cost of electricity.  To add insult to injury, my wife called me at work the first night I was running them to tell me of a strange smell coming from the room.  I told her to unplug them and in the morning when I got home, I saw that one of the power supplies had melted - those were SHIT (the power supplies)!  I connected some better PSUs and ran them for a while to heat my feet under my computer desk.
 I've always wished I had simply spent that money on coins rather than miners - it would have bought ~ 30 Bitcoins.  

Yeah, one or two of the supplied PSU's blew up on me on the short time I used them, but I always planned on wiring up a high efficiency PC PSU.
Think I sold them on ebay!

The FPGA ones (first set) were a bit late. The ASIC ones were VERY late, but still made good profit on them.

[JayJuanGee]

Let's say you come up with $1million as nice round number. Again, this could as low as $500K in some countries and just for a very modest lifestyle up to $5 million for US, with many years to live, and with a nice lifestyle.

Daym you need $5m to live in the US?

Wellllll...

The traditional financial advisor .. um ... advice is to plan on withdrawing 4% annually.

So 4% of $5M is $200K. Is that enough? Before taxes? It's an individual target.

Note that the 4% assumes normal retirement age and life expectancy. If retiring early or planning on living to 268 years of age, you might wanna reduce the percentage for calculation purposes.

I might have different assumptions about the traditional 4%, which I thought was meant to be a perpetually sustainable withdrawal rate because it is presumed that you are going to be able to average at least 4% per year returns (some years higher and some years lower).  So, 4% should even work for someone who lives to  268 years old.

Some tricky parts are 1) withdrawing beyond 4% per year (and dipping into principle, and then if you end up living longer after you have depleted the principle).. 2)  NOT being able to sustain at least 4% on average returns on your investments, and if you believe that is actually happening to your investment, then you need to reduce your withdrawal rate.. most investment advisors believe 4% to be safe because they believe that they can achieve at least that level of returns in a sustainable way or 3) you have miscalculated how large of a principle that you need.. and the 4% returns is not enough (that is in the $5million $200k per annum is not enough)...

Part of the reason that you would want to error in the high side of obtaining a higher principle before your retire (or pull the fuck you lever) is to attempt to be able to account for the various unknowns, including cost of living increases that might happen or prolonged downturn in the economy that would end up reducing your returns and things like that... Of course, if you expect that you are going to die earlier than you can dip in to your principle and even completely liquidate your principle, but then yeah, you could become kind of fucked if you continue to live.. 

[dragonvslinux]

We are still inside of the ascending triangle. If bitcoin price can stay inside of this triangle, we can expect a good kump after 9600 USD. Lets wait and see if this bottom wall is going to work or not.

Thanks for sharing, I've been looking at the new bullish channel developing that could result in a bull flag with a relatively high target, but hadn't seen the bearish rising wedge pattern on the same chart   A breakdown from current levels could be more bearish than I had initially considered, especially now we are forming a bear flag on the 1hr with a target of aound $8200.

[JayJuanGee]

BTC is not measurably better than bitcoin protocol 1.0 in any discernible dimension.

Hmm, off course you don't really believe that do you. Because you have large holdings in both Bitcoin and BCH.

You refuse to put your money where your mouth is.

Why should he not diversify or hedge, whatever he believes.

This argument, dump everything else to prove anything is silly.

Of course, BSV is so goddamned stupid, you gotta hedge if you believe or invest in that.  Similar with a lot of the other pie in the sky shitcoins. When you believe some or part of the shitcoin talking-point nonsense about being better than BTC and being BTC 2.0 and so much of the phoney baloney, then yeah, you better be diversifying into bitcoin because you are surely banking on dumb, if you are investing into shitcoins.

Like my signature says, if you invest into bitcoin, you really do not need to diversify into all of that crap (diversifying your overall portfolio outside of bitcoin/crypto into other industries/sectors is a different subject than merely referring to diversifying within crypto), but the same lack of diversification philosophy would be dumb to follow if you were to invest into any of the shitcoins, whether BSV or any of the others.. you better be diversifying otherwise you are likely to get totally reckt.. just a matter of when, not whether.

[mindrust]

LoL what value does bsv exactly offer any different than the other shitcoins? Hedging into BSV makes no sense. Craig is a lunatic and a scammer and BSV is a shitcoin just like bcash.

In the short term they will have their ups and downs and a billionare like Ayre can keep it up for many years but it will never, ever replace bitcoin. Not even if it somehow able to get a higher market cap than btc. (same applies to bcash as well)

[fillippone]

Lol of the day:

Ridiculous: Peter Schiff Lost Access To His Bitcoin Holdings

The popular economist and well-known nocoiner, Peter Schiff, has said that he’s lost all of his bitcoins because of a forgotten software. He took his rant to Twitter, outlining that the lost bitcoin has no market value, on top of having no intrinsic value as well.

From Twitter:

I just lost all the #Bitcoin I have ever owned. My wallet got corrupted somehow and my password is no longer valid. So now not only is my Bitcoin intrinsically worthless; it has no market value either. I knew owning Bitcoin was a bad idea, I just never realized it was this bad!

https://twitter.com/peterschiff/status/1218911797626847234?s=21

I had a boating accident, someone else had a kebab incident... he had a software accident!

[JayJuanGee]

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) 

It is irrelevant whether or not CSW is Satoshi precisely because the changes BSV is undergoing are bringing it closer to Satoshi's original protocol. We don't need Craig to dictate the direction because the whitepaper exists and because bitcoind 0.1 exists. We can read.

There is only one reason why the changes BSV is undergoing are bringing it closer to Satoshi's "original protocol". CSW will pay Kleiman Estate in BSV claiming these are kind of bitcoins he and Dave Kleiman mined using Satoshi's original protocol.

I agree that is likely the plan of CSW, and it would be quite lovely to see him locked up for that level of fraud (attempted fraud...).;.maybe his lawyers will get disbarred too, if they were to attempt to play such nonsense on the court system?  We will see if he does it, but I do agree that it is a very probable planned way forward for him.

[LFC_Bitcoin]

Lol of the day:

Ridiculous: Peter Schiff Lost Access To His Bitcoin Holdings

The popular economist and well-known nocoiner, Peter Schiff, has said that he’s lost all of his bitcoins because of a forgotten software. He took his rant to Twitter, outlining that the lost bitcoin has no market value, on top of having no intrinsic value as well.

From Twitter:

I just lost all the #Bitcoin I have ever owned. My wallet got corrupted somehow and my password is no longer valid. So now not only is my Bitcoin intrinsically worthless; it has no market value either. I knew owning Bitcoin was a bad idea, I just never realized it was this bad!

https://twitter.com/peterschiff/status/1218911797626847234?s=21

I had a boating accident, someone else had a kebab incident... he had a software accident!

Dat guy Peter Schiff planning in advance for paying no taxes in 2021/22 when he sells

[eddie13]

Lol of the day:

Ridiculous: Peter Schiff Lost Access To His Bitcoin Holdings

Serves that douchebag fiat paper shill right..

[Raja_MBZ]

Meanwhile, in Sudan:



https://twitter.com/AleZ2016/status/1218869472464965633

[LUCKMCFLY]

Bitcoin at $10k would not be bad at all.

As long as $8400 holds there is nothing to worry about.

$10K still in play.

$BTC

Via Twitter: https://twitter.com/galaxyBTC/status/1218854975968772096

This rally marked a significant extension of the upwards momentum that the cryptocurrency incurred earlier this month when it began rallying from lows of $6,800.

Source: https://cryptonewmedia.press/2020/01/19/bitcoin-highly-bullish-despite-selloff-heres-what-could-propel-it-to-10000/?utm_source=dlvr.it&utm_medium=twitter

[Biodom]

Lol of the day:

Ridiculous: Peter Schiff Lost Access To His Bitcoin Holdings

Serves that douchebag fiat paper shill right..

I agree with description, but wallet management is tough, especially if you did not use the wallet for a few years.
We think that we remember/record everything right, but sometimes we make mistakes (especially if trying to memorize something).
Memory plays games from time to time.

[JayJuanGee]

Nice. Already 25% increase from the 15th-20th December. The next target 18th January. Maybe a day more or less. Will consider to take some profits.

Told ya! Target 18th January! It worked like a magic! JuanGee, do you believe now in this theory? Or still sceptical?

You are a fucking diptwat.

I will say that.. reason: because you mentioned my name  along with your stupid-ass numerology, phoney baloney. 

You are just waiting to get fucked up the ass.

Bob has not been feeling too good recently, so if he does not want to sacrifice one for the team, we might have to find another willing one.. .   

[El duderino_]

Meanwhile, in Sudan:



https://twitter.com/AleZ2016/status/1218869472464965633

This is complete pain, horror, madness for my eyes.... evening ruined  

[ssmc2]

Lol of the day:

Ridiculous: Peter Schiff Lost Access To His Bitcoin Holdings

Serves that douchebag fiat paper shill right..

I agree with description, but wallet management is tough, especially if you did not use the wallet for a few years.
We think that we remember/record everything right, but sometimes we make mistakes (especially if trying to memorize something).
Memory plays games from time to time.

Anyone who is interested in getting into BTC should get a hardware wallet and follow the instructions. Schiff wouldn't have had to tweet that if he had.