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

[Hueristic]

There will always be some form (even if informal) of governments.

And I am sure there will be basically the same type of governments before I die. So nothing will change for ME (or you) for all practical purposes.

Nothing will change until the majority believes it can change, guess who's winning?

Then that majority will be the "new" government.

Well that can be debated but its not worth the time sink until the majority can envision governing themselves then at that point we will be evolved enough to give a new method a try.

Until then new forms of governance need to be developed, a trustless one would be a nice change don't you think?

[LUCKMCFLY]

An interesting walk through history.

Satoshi on Scaling

Lightning Network bears less similarity to Nakamoto HFT than many other designs, which Satoshi would likely approve over Segregated Witness and its new concept of size.

Source: https://thedailychain.com/satoshi-on-scaling/

[serveria.com]

Da fuck! What country are you in?!?? Never saw capital gains taxed so fucking high. That percentage is ridiculous even for regular salary income FFS!

50% income tax, give or take depending. 25% sales tax. Hidden taxes on everytyhing, not sure how much but not less than 50%. In total, 80-90% taxation.

Which is why there is no fucking way I will get off with ONLY 20% when they get around to bitcoin. States always want More.

Denmark, by the way.

From what I understand, most European countries have taxation based on country of residency. So, you should be able to get residency in 0% country, like Malaysia or Panama, stay there for a year, dump your bitcoins, then move back. All 100% legal and tax free.

Yeah, I'm actually looking into moving permanently somewhere else. It won't be an asian country, they are just too different. Either eastern europe, which I'm in the process of exploring, or failing that south america.

The real bitch of a problem in all this is to find a place where people speak proper english.

Estonia could be a nice choice for you. Not far away from Denmark, quite civilized and they also offer e-residency. I'm sure you'll feel like in tax haven there after living in Denmark  

Edit: If my memory serves me well we had a WO member from Estonia here? Perhaps you could contact him for more info.

[Searing]

Just got an email from Trezor with a link to their halving blog which mostly shits on PlanBTC stock to flow model.  I've always considered the S2F strong hopium for hodlers so nothing new but nice to get level-headed approach to alternative narratives.


TLDR, S2F model shows scarcity, not demand. Price and demand historically goes up with each supply halving, how much this time, still nobody knows.

Which is why I have always said the S2F will only be valid until it isn't, and that is probably coming soon.... maybe in one year, maybe two... It is just a matter of time it reaches a price mathematically impossible to achieve. But way sooner than reaching that point it will begin to fail.

Can Bitcoin reach $100K in the next couple of years? Yes, it is a *possibility*. I don't even give it a 50/50 chance... which is a lot anyways!

Can S2F model still be valid 10 years from now? No, it simply can't.

Nice hopium though.

my mantra any particular day. notice the 'worse case scenario' is no longer BTC to zero and beanie babies...anyway..my 'mental yoga' to stay in HODL mode

(that an feeling like a BTC revolutionary and not letting the monied interests/banks/elite ultra-rich co-opt blockchain privately for their own uses)

from worst case to best case.

(1) BTC will dump to 2/3 of the current price on whatever day you use this 'BTC mental yoga" method. BTC adoption having been reached, and BTC now
goes sideways in price, a bit better as a store of value than gold and now grows modestly at best as a traditional stock market valuation would from then on.

(2) BTC will stay at whatever current price on whatever day/hour/etc you use this 'BTC mental yoga' method. BTC adoption obviously having been made and
the price from this 'current price' you look at such, as a thought experiment, will at best go sideways and now due to adoption being met as a niche market
like gold, will now grow modestly like a traditional stock market asset from then on.

(3) BTC, at the current price on whatever time/date you are thinking about BTC, has not yet met its adoption threshold, or anywhere near such, like in the
top two visions above. Thus it will do with price and adoption what BTC as a 'black swan event' has done in the past and go up 3x/9x/18x etc in both price
and use and eventual (?) full adoption and acceptance. But we are nowhere near such yet. Thus, get what BTC 'dust' you can and HODL like hell.

So, this is what wanders through my mind (1) when BTC dumps big (2) when BTC goes sideways and is in 'Meh!" mode and (3) when halving is on the horizon

(pick any halving) and the price of BTC pumps.

Anyway, how I cope with the day to day using my 'supposed' BTC mental yoga tricks above. (lame though they may be to others!)

Brad

[Icygreen]

@Paashas
I'm not seeing anything about Wuhan internet being shut down. Any links out there?

[VB1001]

Happy stop loss hunting

https://twitter.com/100trillionUSD/status/1230255806551142400

#StrongHats > Hodl: Is your friend.

[mindrust]

As somebody said above, the only way to not pay taxes is becoming rich. Sadly that is also the only way to live.

The world isn't for normies and average Joe's anymore. You are either a slave (not rich enough) or master (rich). There is no middle ground.

When you are rich enough you can still live in those well developed high tax countries without paying shit.

Get Rich or Die tryin.

[Phil_S]

Don't let them scare you into reporting you "holdings"!

Tell them NOTHING!

[estenity]

very recent paper on covid19

https://ourfiniteworld.com/2020/02/18/easily-overlooked-issues-regarding-covid-19/

[OutOfMemory]

Don't let them scare you into reporting you "holdings"!

Tell them NOTHING!

You can try. Still there is KYC at the exchanges and brokers, Fiat accounts of cryptomarketplaces are known to banks.
Localbitoins and the likes are vulnerable to be declared illegal, like mixing, and governments are working on ultimately getting rid of cash.
Way out? Anybody?

[Phil_S]

That's a different thing.
Exchanges/brokers don't ask you to provide a full list of all your assets.

[El duderino_]

A friend calling me with questions about “decentralized finance” someone knows about it ?
Dharma.io is a thing in it ..... ?? 

[mindrust]

A friend calling me with questions about “decentralized finance” someone knows about it ?
Dharma.io is a thing in it ..... ??  

Bitcoin is the decentralized finance he is looking for.

The one on Eth is vaporware.

Show him this:
https://www.theblockcrypto.com/post/56207/bzx-attacked-again-645k-in-eth-estimated-to-be-lost

[fillippone]

Good Morning WO gang!
Observing corn @9647
Observing people around you going bonkers because of first COVID-19 contagion at 60km from where they (we) live.

A few of details of this story are actually scary:

• The infected person never travelled to China
• The invected person ate a pizza one month ago (forget 14 days incubation period then) with a colleague of his who was back from China
• That particular person has no symptoms and tested negative to every check.

[ataArt]

The more enthusiasts the more likely we are to wait for what we expect ...

All have a nice day guys

[HairyMaclairy]

Good Morning WO gang!
Observing corn @9647
Observing people around you going bonkers because of first COVID-19 contagion at 60km from where they (we) live.

A few of details of this story are actually scary:

• The infected person never travelled to China
• The invected person ate a pizza one month ago (forget 14 days incubation period then) with a colleague of his who was back from China
• That particular person has no symptoms and tested negative to every check.

Uhhhh or there is undetected community spread of the virus.  How does he know he has it if he has no symptoms?

[El duderino_]

Just got an email from Trezor with a link to their halving blog which mostly shits on PlanBTC stock to flow model.  I've always considered the S2F strong hopium for hodlers so nothing new but nice to get level-headed approach to alternative narratives.


TLDR, S2F model shows scarcity, not demand. Price and demand historically goes up with each supply halving, how much this time, still nobody knows.

Which is why I have always said the S2F will only be valid until it isn't, and that is probably coming soon.... maybe in one year, maybe two... It is just a matter of time it reaches a price mathematically impossible to achieve. But way sooner than reaching that point it will begin to fail.

Can Bitcoin reach $100K in the next couple of years? Yes, it is a *possibility*. I don't even give it a 50/50 chance... which is a lot anyways!

Can S2F model still be valid 10 years from now? No, it simply can't.

Nice hopium though.

Don't be to bearish bit'serveeee 

[HairyMaclairy]

I have updated my model to account for increased hash rate, which is pushing the halvening date forward.  I modestly predict $12,100 on the halvening date.

[Lambie Slayer]

Good morning, being above 10,000 looks good.



They say the same as us, but they go into more details.

ergo, JJG is female.

His salty cunt does qualify him for quasi-female status.

Aren't "we" (that is not "royal" we, by the way) in a bad mood today?    Yes Slayer, you will know I am no longer salty when I learn how to make my text walls much smaller and learn not to get angry and butt hurt about people speculating in a speculation thread. I promise Im working hard on this.

Good luck.  Lmk if you need any advice.

[El duderino_]

A friend calling me with questions about “decentralized finance” someone knows about it ?
Dharma.io is a thing in it ..... ??  

Bitcoin is the decentralized finance he is looking for.

The one on Eth is vaporware.

Show him this:
https://www.theblockcrypto.com/post/56207/bzx-attacked-again-645k-in-eth-estimated-to-be-lost

He always do like to listen to Ivon on Tech .... and they where talking about "decentralized finance"

He was a bit impressed and wondering what it exactly was and if its worth any time...