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

[JayJuanGee]

Yeah, that's exactly the problem. The grace period makes it difficult to really know if I a post has been edited right after being posted.

It seems no one really knows how to detect it.

as soon as the person posts here have archive.org capture it? and use the archive shot as proof of unaltered
post?

EDIT: meh could just send several i guess, and link the one they want.

Require the stamping on a blockchain...

BSV anyone?  hahahahaha along with the weather and earthquake data


P.s... never mind me, I don't even know what is a blockchain... I just heard of it happening, out there.

[1714018826]

1714018826

[LUCKMCFLY]

Nice..

Bitcoin Energy value just hit an all time high.

The network is stronger, and more valuable, than ever before.

Source: https://twitter.com/caprioleio/status/1219196321892052992

[Biodom]

Nice..

Bitcoin Energy value just hit an all time high.

The network is stronger, and more valuable, than ever before.

Source: https://twitter.com/caprioleio/status/1219196321892052992

Network is stronger because of peeps like vapourminer, Searing, etc perhaps still buying and running those incredibly loud machines.
Personally, I feel that people might think of contributing by running a regular node, mining and/or running a LN node.
I love speculation, don't take me wrong, but we need to fight (still) for decentralization.

[rdbase]

@servebit, so you are a Leo fan.... that’s makes two of us ....  

Not so much... to be brutally honest. I have always thought he was a bit too much baby-faced (specially in the past, ie Titanic) and skinny to be a man, as if he had been an ill born child or something.

But I had to chose between that... or this:





... and I think I choose wisely.

Better to be a pissed off crazy cowboy than a somali pirate.

Congrats to your next step into the WO legendary sphere!

[jbreher]

the new BSv directive is to pivot and try to separate BSv from CSW, shills are out in force trying to push this.

Where do you get this tripe?

[JayJuanGee]

If $5million is your goal, then you need
BTC price                                           BTC quantity

$5k - (anticipated lowest, currently) = 1,000 BTC
$8,600 - (today's price, while typing) =  581.4 BTC
$10k - (reasonable extreme bottom price in 2 years) = 500 BTC
$25k - (reasonable extreme bottom price in 5 years) =200 BTC
$100k - (reasonable extreme top price within 2 years) = 50 BTC
$250k - (reasonable extreme top price in 5 years) = 20 BTC

I personally believe that $2million is decently enough because that gives you $6,666 / mo of passive income.

Always good to see numbers like this. $5 mil is a good goal to have, and the passive income from that would put you in the wealthy status in the USA.

But of course as people age these goals need to be updated, I know a lot of folks here are younger but if you hit a medical emergency or some other such family emergency that requires you to dip into your capital you can be wiped out.

So personally I think JJG's $2 mil figure is good but I'd want a lot of padding to cover those possible (inevitable) times, therefore I'd also peg $5 mil as a decent benchmark for this. Though everyone would be different here I guess.

Personally, I think that there tends to be a lot of posting of high and falutin numbers that just seem way too pie in the sky that might cause failure and refusal to pull the trigger by letting the perfect be the enemy of the good.

Of course we have to adequately account for changes in cost of living and things like that, but really by the time someone actually pulls the fuck you trigger, s/he should already have a decent idea regarding his/her previous lifestyle and to be able to continue to live within that lifestyle. 

There can be several factors that cause someone to require less in retirement/"fuck you" status than while being in some kind of "job."  1) Some of the expenses of the "job" as mentioned in my above post, but also, 2) just the fact that you might not necessarily feel that you need to continue to stack value and put that value into your retirement/"fuck you" fund because you have already reached the aspired passive income level towards which you had been aiming.

Regarding the second point.  I recall so many years of taking at least 10% or more of my income and putting it towards various investments, and after a while that fund starts to be able to sustain itself in some kinds of ways.  By the time, you get to retirement/"fuck you" status, you should have already been weaning yourself from having to input additional value into that fund.  Of course, you could have a passive income that is 10% or higher than the amount that you need in order that you would just continue to be putting value into the fund at about a rate of 10% which would hypothetically be consistent with your past investments habits/practices.

Of course, in the end, the factors will need to be weighed including known expenses and a bit of the known unknowns and the unknown unknowns, and sure there are going to be unknown unknowns that go way the fuck beyond your preparations, but if you have seriously put thought into the matter and adequately prepared, the outrageous unknown unknowns would have been such unlikely events anyhow, and we should not be planning our lives around events that are so damned unlikely.. like Armageddon or whatever.. yeah, Armageddon has about a 1% chance of happening, so don't fuck up your whole life and your ability to retire because you put way the fuck disproportionate preparation into that... like 20% or even 50% like some people seem to be inclined in those kinds of ways to prepare for holy shit not going to happen events - and I am NOT sure if that is just a means to talk themselves out of actually pulling the fuck you lever when they really should (but yeah, ultimately their discretion, and the above remain just factors to consider rather than trying to tell anyone what to do with their ultimate conclusions regarding what is important to them).

[jbreher]

This would be hilarious if it weren't so sad.

https://cointelegraph.com/news/binance-ceo-suggests-crypto-exchanges-are-safer-than-keeping-ones-keys

“Many hardcore crypto [organizations] advocate storing your own keys. But the truth is, today most people are not able to secure a key even from themselves (losing it). A trusted centralized exchange is #SAFUer for most people. The numbers speak for themselves. Need to work on wallets.”

Hmm. CZ sez put your money in his trust. Cui Bono?

[bkbirge]

yeah, Armageddon has about a 1% chance of happening, so don't fuck up your whole life and your ability to retire because you put way the fuck disproportionate preparation into that... like 20% or even 50% like some people seem to be inclined in those kinds of ways to prepare for holy shit not going to happen events - and I am NOT sure if that is just a means to talk themselves out of actually pulling the fuck you lever when they really should (but yeah, ultimately their discretion, and the above remain just factors to consider rather than trying to tell anyone what to do with their ultimate conclusions regarding what is important to them).

I don't really disagree with any of what you said, including the unquoted parts. But having seen the medical issues destroy people's finances more than once, in my personal list of things it's on my list of "it's comin' down the pike" rather than "small chance Armageddon scenario", so as you point out each person has that different list of factors they consider at various priorities.

I totally get that some might see the large numbers and say "fuck it" instead of saving now, hopefully few to none on here, but I just consider it a journey. If I end up there great, if not, well I tried and will continually evaluate my options with regard to whatever curve balls life is throwing at me or likely to throw at me at the time.

[bkbirge]

This would be hilarious if it weren't so sad.

https://cointelegraph.com/news/binance-ceo-suggests-crypto-exchanges-are-safer-than-keeping-ones-keys

“Many hardcore crypto [organizations] advocate storing your own keys. But the truth is, today most people are not able to secure a key even from themselves (losing it). A trusted centralized exchange is #SAFUer for most people. The numbers speak for themselves. Need to work on wallets.”

Hmm. CZ sez put your money in his trust. Cui Bono?

Yep, sure reads sort of self serving on his part.

[efialtis]

Good evening guys,

enjoying some greek wine and observing $8660... You guys with me?!

[JayJuanGee]

I am not exactly saying you need $5 Million to live in the US.

$5Million is my *UP TO* / most conservative reasonable figure for living with a NICE lifestyle in the US. It includes the following factors:

If $5million is your goal, then you need

BTC price                                           BTC quantity

$5k - (anticipated lowest, currently) = 1,000 BTC

$8,600 - (today's price, while typing) =  581.4 BTC

$10k - (reasonable extreme bottom price in 2 years) = 500 BTC

$25k - (reasonable extreme bottom price in 5 years) =200 BTC

$100k - (reasonable extreme top price within 2 years) = 50 BTC

$250k - (reasonable extreme top price in 5 years) = 20 BTC

I personally believe that $2million is decently enough because that gives you $6,666 / mo of passive income.  We should be considering average USA locations rather than the extremes of NYC or SF... .. of course, the higher the cost of living of your preferred location, the more that you need.

By the way, we should also know that BTC does not need to be your exclusive source of income or assets in order to still serve as "fuck you" money and also to be calculated while considering the balancing of other assets and possible income that you might have from other sources that would not necessarily interfere with your ability to claim to have reached a kind of "fuck you" status

I agree with a notion that 2mil is still probably OK in most of US (not in NY, SF, San Diego, San Jose and several more), but $5 mil is solid as a "FU money" (updated to $5mil from $2.5 mil) described here:
https://www.youtube.com/watch?v=qGC9FY65HBo

haiku motif that I stole from you know who:

Yesterday, corn was
such an easy game to play..
oh oh...yesterday

I had not previously seen that movie (the gambler), but that clip makes it look like a very interesting movie, and also yeah, very a propros of our discussion of adequate and sufficient aspiration levels.

I did watch the longer contextual part, too, and I like the lil part with the snotty waitress who refused to accept his ability to choose which beer... She surely would not be long in the waitressing business with that kind of attitude... but some of them do get like that.   

[LFC_Bitcoin]

Good evening guys,

enjoying some greek wine and observing $8660... You guys with me?!

Drinking Prosecco!
On to our second bottle, not a big drinker myself, I prefer substance abuse

[efialtis]

Good evening guys,

enjoying some greek wine and observing $8660... You guys with me?!

Drinking Prosecco!
On to our second bottle, not a big drinker myself, I prefer substance abuse

Lol man, told ya just recently, we are somehow connected obviously (no homo of course, haha) - even when you are not a big drinker, unlike me, lol. Gotta love wine! Greek wine is of course underrated, bad marketing (general problem with Greece actually ^^) - anyone needs suggestions, just hit me up

[Globb0]

[JayJuanGee]

yeah, Armageddon has about a 1% chance of happening, so don't fuck up your whole life and your ability to retire because you put way the fuck disproportionate preparation into that... like 20% or even 50% like some people seem to be inclined in those kinds of ways to prepare for holy shit not going to happen events - and I am NOT sure if that is just a means to talk themselves out of actually pulling the fuck you lever when they really should (but yeah, ultimately their discretion, and the above remain just factors to consider rather than trying to tell anyone what to do with their ultimate conclusions regarding what is important to them).

I don't really disagree with any of what you said, including the unquoted parts. But having seen the medical issues destroy people's finances more than once, in my personal list of things it's on my list of "it's comin' down the pike" rather than "small chance Armageddon scenario", so as you point out each person has that different list of factors they consider at various priorities.

I totally get that some might see the large numbers and say "fuck it" instead of saving now, hopefully few to none on here, but I just consider it a journey. If I end up there great, if not, well I tried and will continually evaluate my options with regard to whatever curve balls life is throwing at me or likely to throw at me at the time.

I doubt that we are really saying anything different from one another, except maybe delving into the weeds a bit with a kind of particular scenario.  There is a lot fucked up in the USA regarding health care... that is for sure.  There are also likely way too many people in the USA who get wiped out financially by various medical issues that come up, so yeah, something like that might have higher odds of happening or becoming an issue than people credit (take into their accounts/contemplations), and of course, for you particularly, you might have to over-prepare in order to be feel that you are sufficiently comfortable, but you also might end up shooting yourself in the foot because you ended up over-preparing. 

I surely don't know the solution because you are referring to a real world issue that has a whole hell of a lot of significance in the USA, and more dire circumstances for some people rather than others in terms of how much insurance needs to be within the budget or if there is already a pre-existing condition and also whether they might be ready, willing or able to travel for treatment (which traveling surely might not be very practical for some people to have to consider traveling for medical treatment).

[OROBTC]

Breaking News:U.S. Congress proposes that Crypto transactions below $200 shall be free from taxes!.

139 G.Gain from disposition of virtual currency

(a)In general
Gross income of an individual shall not include gain, by reason of changes in exchange rates, from the disposition of virtual currency in a personal transaction (as such term is defined in section 988(e)). The preceding sentence shall not apply if the gain which would otherwise be recognized on the transaction exceeds $200.

(b)Virtual currency
For purposes of this section, the term virtual currency means a digital representation of value that is used as a medium of exchange and is not otherwise currency under section 988.

pdf

That would be great if that goes through.  I have made a few small purchases that have been annoying to keep track of (esp. cost basis for coins, I use FIFO accounting).  The larger purchases (gold) I kept careful track of because they were larger transactions.

Tiny purchases with BTC should be tax-free, the man-hours of doing the accounting are maddening.

[LFC_Bitcoin]

Zhao in response to Peter Schiff’s negative comments about bitcoin & forgetting his wallet passphrase.




@cz_binance
1. This is probably 0.01 btc someone gave him as a gift.

2. The thread is entertaining due to the hopelessly illogical-ness.

3/5. It is amazing someone so illogical can attract that many followers. I guess there are multiple reasons one can become famous.
https://twitter.com/cz_binance/status/1219300617794940932?s=21

@cz_binance
4. Finally understood why he likes gold over bitcoin. Gold doesn’t have a password.

5. Unless, of course, if he uses a vault with a password to store the gold...
https://twitter.com/cz_binance/status/1219300619699146752?s=21

[cAPSLOCK]

Breaking News:U.S. Congress proposes that Crypto transactions below $200 shall be free from taxes!.

139 G.Gain from disposition of virtual currency

(a)In general
Gross income of an individual shall not include gain, by reason of changes in exchange rates, from the disposition of virtual currency in a personal transaction (as such term is defined in section 988(e)). The preceding sentence shall not apply if the gain which would otherwise be recognized on the transaction exceeds $200.

(b)Virtual currency
For purposes of this section, the term virtual currency means a digital representation of value that is used as a medium of exchange and is not otherwise currency under section 988.

pdf

This is super huge if it passes.  We will all become spenders as we rotate our hoards to a much higher cost basis.

[jojo69]

wait

so we get to launder it in $200 at a time?

transaction fees could eat that up pretty quick

[LFC_Bitcoin]

I’d like to see something similar passed in the UK.

I don’t think it’s fair I’ll have to pay up to 20% capital gains tax on an investment that I mostly bought in 2014-15.

In Germany there is 0% capital gains tax on assets that you have HODLED for over 12 months.

I’ll figure a way around it, I’ve been playing the system in business for years.